The AI revolution is supposed to make physical assets obsolete. I think it's doing the opposite. 

I've watched Wall Street miss the real trade more times than I can count. And in my experience, some of the most significant opportunities have appeared when most people were still looking the other way. 

I think we're at one of those moments right now. 

For three decades, the winning formula was simple: own software, avoid hard assets. 

It worked brilliantly — until January 2026, when Amazon bypassed the open commodities market entirely and signed a direct, multi-decade copper deal with mining giant Rio Tinto. One of the largest capital allocators on earth stopped buying software. Amazon was buying atoms. 

Amazon wasn't alone. Across all four major hyperscalers, the numbers tell the same story. 

*Source: Company filings and analyst estimates as of early 2026. Projections are estimates and not guaranteed.

The physical supply chain cannot scale at software speed. And the companies providing the energy, materials, and infrastructure that AI runs on have, in many cases, not been repriced the way AI-focused stocks have. 

I built an ETF around that idea. 

It's called HALX — the Tuttle Capital Heavy Asset Low Obsolescence ETF, and it launched today. I'll be walking through the full thesis live at my webinar on May 19 — but if you want to see what we’ve built before then, it's right here.

— Click here to see HALX —

- Matt

IMPORTANT DISCLOSURES

Investors should consider the investment objectives, risks, charges, and expenses carefully before investing. For a prospectus with this and other information about the fund, please call (833) 759-6110. Please read the prospectus carefully before investing.

Distributor: Foreside Fund Services

Investment in the Fund is subject to investment risks, including the possible loss of some or the entire principal amount invested. There can be no assurance that the Fund will be successful in meeting its investment objective. Investment in the Fund is also subject to the following risks:

Limited History of Operations Risk: As of the date of this prospectus, the Fund has no operating history and currently has fewer assets than larger funds. Like other new funds, large inflows and outflows may impact the Fund’s market exposure for limited periods of time. This impact may be positive or negative, depending on the direction of market movement during the period affected.

Index Tracking Risk: Returns may not match its reference Index due to costs, timing differences, or operational constraints. The Fund will hold reference index securities regardless of outlook, which may lead to underperformance versus active strategies.

Non-Diversification Risk. The Fund is considered to be non-diversified, which means that it may invest more of its assets in the securities of a single issuer or a smaller number of issuers than if it were a diversified fund. To the extent the Fund invests a significant percentage of its assets in a limited number of issuers, the Fund is subject to the risks of investing in those few issuers and may be more susceptible to a single adverse economic or regulatory occurrence. As a result, changes in the market value of a single security could cause greater fluctuations in the value of Fund shares than would occur in a diversified fund.