STMicroelectronics NV ADRhedged

Key Statistics

Historical Performance

Total return including reinvested distributions, from adjusted closing prices.

Top Holdings

Top 3 holdings as of Mar 31, 2026 · source: SEC N-PORT. Full holdings & prospectus →

About STHH

TheSeries, under normal circumstances, invests at least 95% of its net assets in American Depositary Receipts (“ADRs”)of the STMicroelectronics NV (the “Company”). The Series will not invest directly in the Company. ADRs are receipts,issued by an American bank or trust issuer, which evidence ownership of underlying securities issued by a non-U.S. issuer. Generally,ADRs, issued in registered form, are designed for use in the U.S. securities markets. TheSeries invests in the ADRs of the Company (the “Portfolio Securities”) and a currency swap (the “Currency HedgeContract”) designed to hedge against fluctuations in the exchange rate between the U.S. dollar and the Euro (“LocalCurrency”). The Currency Hedge Contract is with a counterparty acting as principal. The notional valueof the Currency Hedge Contract is adjusted daily based on the current value of the Portfolio Securities. AlthoughADRs are U.S. dollar denominated and traded on U.S. exchanges, they are still subject to currency risk because changes in foreigncurrency exchange rates affect their value. The Currency Hedge Contract is designed to minimize the impact of fluctuations inthe exchange rate between the U.S. dollar and the Local Currency. TheCurrency Hedge Contract will be marked to market and settled daily based on the notional value of the Currency Hedge Contractas of the settlement time on a particular day and the change in the value of the Local Currency in relation to the U.S. dollar(“Exchange Rate”) from the settlement time on the prior business day to the settlement time on the current businessday. Changesin rates of the Local Currency compared to the U.S. dollar may negatively affect the value of the Currency Hedge Contract. Ifas a result of a change in the value of the Local Currency relative to the U.S. dollar, the Currency Hedge Contract increasesin value, the counterparty will pay the Series an amount in U.S. dollars equal to the increase in the value of the Currency HedgeContract. If the Currency Hedge Contract decreases in value, the Series will pay the counterparty an amount in U.S. dollars equalto the decrease in the value of the Currency Hedge Contract. In order to obtain any necessary amount of cash, the Manager maysell Portfolio Securities. The Series will maintain amounts not invested in ADRs in cash or cash equivalents, including moneymarket funds. The Currency Hedge Contract is subject to counterparty risk in that if the counterparty fails to make any payments,the Series could incur a loss. Asa result of mark to market payments or otherwise, the ratio of Portfolio Securities to Shares will vary over time. For example,upon formation, a Series Share might be equal to one Share of the ADR. If the mark to market payments for the Currency Hedge Contractwould require the Series to sell ADRs in order to make a payment to the counterparty, each Series Share would equal less thanone Share of the ADR. As a result of the sales of an ADR, the net asset value of the Series and, correspondingly, the fractionalamount of ADRs represented by each Share will decrease over the life of the Series. TheSeries does not seek to replicate the performance of a specified index. TheSeries is non-diversified and therefore may invest a greater percentage of its assets in a particular issuer than a diversifiedSeries. STMicroelectronicsNV  STMicroelectronicsNV is a global semiconductor company headquartered in Geneva, Switzerland, which engages in the business of designing, developing,manufacturing, and marketing products used in a wide variety of applications for automotive, industrial, personal electronicsand communications equipment, computers, and peripherals. STMicroelectronics NV is listed on the Euronext Paris Exchange underthe ticker symbol “STMPA”. STMicroelectronicsNV is registered under the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Information providedto or filed with the SEC by STMicroelectronics NV pursuant to the Exchange Act can be located by reference to the SEC file number001-13546. The SEC maintains an internet site that contains reports, proxy, and information statements and other information regardingthe issuer at www.sec.gov. In addition, information regarding STMicroelectronics NV may be obtained from other sources including,but not limited to, press releases, newspaper articles and other publicly disseminated documents. Neither the Series nor the Managerare responsible for the content in such other sources. 

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