This actively managed exchange-traded fund (ETF), the Engine No. 1 Transform Climate ETF, aims to invest in companies that are creating value through their efforts to adapt to and address the demands of climate change, both within their own operations and by facilitating the transformation of others. Initially, the fund's advisor plans to focus its investments primarily on U.S.-listed equities and American Depositary Receipts (ADRs) of companies pertinent to this climate-focused theme. Over time, as market conditions and investment opportunities shift, the portfolio may expand to include non-U.S. listed securities. The fund's holdings can encompass a wide range of company sizes, from micro- and small-capitalization firms to medium- and large-capitalization enterprises. It operates on a non-diversified basis.