0001145549-23-066827.txt : 20231114 0001145549-23-066827.hdr.sgml : 20231114 20231113175856 ACCESSION NUMBER: 0001145549-23-066827 CONFORMED SUBMISSION TYPE: N-CEN PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20230831 FILED AS OF DATE: 20231114 DATE AS OF CHANGE: 20231113 EFFECTIVENESS DATE: 20231114 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Strategic Trust CENTRAL INDEX KEY: 0001873280 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FILING VALUES: FORM TYPE: N-CEN SEC ACT: 1940 Act SEC FILE NUMBER: 811-23723 FILM NUMBER: 231400466 BUSINESS ADDRESS: STREET 1: 7887 EAST BELLEVIEW AVE.,SUITE 1100 CITY: DENVER STATE: CO ZIP: 80111 BUSINESS PHONE: 212-951-0499 MAIL ADDRESS: STREET 1: 7887 EAST BELLEVIEW AVE.,SUITE 1100 CITY: DENVER STATE: CO ZIP: 80111 FORMER COMPANY: FORMER CONFORMED NAME: Kelly Strategic ETF Trust DATE OF NAME CHANGE: 20210719 0001873280 S000073958 Kelly Hotel & Lodging Sector ETF C000231234 Kelly Hotel & Lodging Sector ETF HOTL 0001873280 S000073959 Kelly Residential & Apartment Real Estate ETF C000231235 Kelly Residential & Apartment Real Estate ETF RESI 0001873280 S000073961 Kelly CRISPR & Gene Editing Technology ETF C000231237 Kelly CRISPR & Gene Editing Technology ETF XDNA 0001873280 S000080468 RUNNING OAK EFFICIENT GROWTH ETF C000242877 RUNNING OAK EFFICIENT GROWTH ETF RUNN N-CEN 1 primary_doc.xml X0404 N-CEN LIVE 0001873280 XXXXXXXX false false false N-1A S000073958 true S000073959 true S000073961 true S000080468 true Strategic Trust 811-23723 0001873280 549300DBTMGXJIJI8N21 7887 East Belleview Avenue Suite 1100 Denver 80111 US-CO US 8006581070 US Bancorp Fund Services LLC 615 E Michigan Street Third Floor Milwaukee 53202 8336121912 Records related to transfer agent/administrator/fund accountant. US Bank NA 1555 N River Center Drive Suite 302 Milwaukee 53212 8336121912 Records related to custodian. Running Oak Capital, LLC 4519 West 56th St. Edina 55424 9196563712 Records related to investment adviser. Foreside Financial Services LLC Three Canal Plaza Suite 100 Portland 04101 8662516920 Records related to distributor. N N N N-1A 4 Y Ethan Powell N/A N Matthew Patterson N/A N Kevin Kelly N/A Y Cory Gossard 002717444 501 S Cherry Street Suite 610 Denver 80246 XXXXXX N N N N N N Foreside Fund Services LLC 8-32480 000031334 N/A N Y Cohen and Company Ltd 00925 N/A N N N N N N N Running Oak Efficient Growth ETF S000080468 5493000EQYIDAXKGFH18 Y 1 1 0 Exchange-Traded Managed Fund Y N Y N N/A N/A N/A Rule 32a-4 (17 CFR 270.32a-4) Rule 6c-11 (17 CFR 270.6c-11) Rule 18f-4 (17 CFR 270.18f-4) Rule 18f-4(c)(4) (17CFR 270.18f-4(c)(4)) N N N N Running Oak Capital LLC 801-110116 000286656 N/A 2023-06-07 US Bancorp Fund Services LLC 85-11357 N1GZ7BBF3NP8GI976H15 N N Y Intercontinental Exchange Inc. 5493000F4ZO33MV32P92 N Bloomberg L.P. 549300B56MD0ZC402L06 N Y US Bank NA 6BYL5QZYBDK8S7L73M02 N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) Y N US Bancorp Fund Services LLC N1GZ7BBF3NP8GI976H15 N N Y Citadel Securities LLC 8-53574 000116797 12UUJYTN7D3SW8KCSG25 315.000000000000 315.000000000000 0.000000000000 N 23812032.000000000000 N N N N Kelly Hotel & Lodging Sector ETF S000073958 549300W7LRVTFGL01Y90 N 1 1 0 Exchange-Traded Fund Y Y -0.088177106097 -0.957570092097 0.354683632026 0.355233277959 Y N Y N N/A N/A N/A Rule 32a-4 (17 CFR 270.32a-4) Rule 6c-11 (17 CFR 270.6c-11) Rule 18f-4 (17 CFR 270.18f-4) Rule 18f-4(c)(4) (17CFR 270.18f-4(c)(4)) N N N N Kelly Strategic Management LLC 801-121745 000315259 N/A N Penserra Capital Management LLC 801-80466 000159042 N/A N US Bancorp Fund Services LLC 85-11357 N1GZ7BBF3NP8GI976H15 N N N Intercontinental Exchange Inc. 5493000F4ZO33MV32P92 N Bloomberg L.P. 549300B56MD0ZC402L06 N N US Bank NA 6BYL5QZYBDK8S7L73M02 N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) N N US Bancorp Fund Services LLC N1GZ7BBF3NP8GI976H15 N N N BTIG LLC 8-65473 000122225 549300GTG9PL6WO3EC51 23.000000000000 Credit Suisse Securities LLC 8-422 000000816 1V8Y6QCX6YMJ2OELII46 43.000000000000 66.000000000000 BTIG LLC 8-65473 000122225 549300GTG9PL6WO3EC51 9.000000000000 Credit Suisse Securities LLC 8-422 000000816 1V8Y6QCX6YMJ2OELII46 1690.000000000000 1699.000000000000 N 717729.000000000000 N N N N Kelly Residential & Apartment Real Estate ETF S000073959 54930031JBHBZ30UJB88 N 1 1 0 Exchange-Traded Fund Y Y 0.248730505914 0.031937929914 0.407050767950 0.408473637958 Y N Y N N/A N/A N/A Rule 32a-4 (17 CFR 270.32a-4) Rule 6c-11 (17 CFR 270.6c-11) Rule 18f-4 (17 CFR 270.18f-4) Rule 18f-4(c)(4) (17CFR 270.18f-4(c)(4)) Y Y N N Kelly Strategic Management LLC 801-121745 000315259 N/A N Penserra Capital Management LLC 801-80466 000159042 N/A N US Bancorp Fund Services LLC 85-11357 N1GZ7BBF3NP8GI976H15 N N N Intercontinental Exchange Inc. 5493000F4ZO33MV32P92 N Bloomberg L.P. 549300B56MD0ZC402L06 N N US Bank NA 6BYL5QZYBDK8S7L73M02 N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) N N US Bancorp Fund Services LLC N1GZ7BBF3NP8GI976H15 N N N BTIG LLC 8-65473 000122225 549300GTG9PL6WO3EC51 12.000000000000 Credit Suisse Securities LLC 8-422 000000816 1V8Y6QCX6YMJ2OELII46 31.000000000000 43.000000000000 0.000000000000 N 453010.000000000000 N N N N Kelly CRISPR & Gene Editing Technology ETF S000073961 54930008LLNT6JJ4MO84 N 1 1 0 Exchange-Traded Fund Y Y -0.130780852354 -0.656937652354 0.559223829693 0.559473603607 Y N Y N N/A N/A N/A Rule 32a-4 (17 CFR 270.32a-4) Rule 6c-11 (17 CFR 270.6c-11) Rule 18f-4 (17 CFR 270.18f-4) Rule 18f-4(c)(4) (17CFR 270.18f-4(c)(4)) N N N N Kelly Strategic Management LLC 801-121745 000315259 N/A N Penserra Capital Management LLC 801-80466 000159042 N/A N US Bancorp Fund Services LLC 85-11357 N1GZ7BBF3NP8GI976H15 N N N Intercontinental Exchange Inc. 5493000F4ZO33MV32P92 N Bloomberg L.P. 549300B56MD0ZC402L06 N N US Bank NA 6BYL5QZYBDK8S7L73M02 N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) N N US Bancorp Fund Services LLC N1GZ7BBF3NP8GI976H15 N N N BTIG LLC 8-65473 000122225 549300GTG9PL6WO3EC51 1130.000000000000 Credit Suisse Securities LLC 8-422 000000816 1V8Y6QCX6YMJ2OELII46 2826.000000000000 3956.000000000000 0.000000000000 N 3272248.000000000000 N N N N Running Oak Efficient Growth ETF S000080468 Y 25000.000000000000 3.000000000000 1.000000000000 97.000000000000 1.000000000000 14.000000000000 0.000000000000 86.000000000000 0.000000000000 N/A 300.000000000000 N/A N/A 300.000000000000 N/A N/A 300.000000000000 N/A N/A 300.000000000000 N/A Y Kelly Hotel & Lodging Sector ETF S000073958 Y 25000.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 100.000000000000 0.000000000000 N/A 0.000000000000 N/A N/A 0.000000000000 N/A N/A 500.000000000000 N/A N/A 500.000000000000 N/A Y Kelly Residential & Apartment Real Estate ETF S000073959 Y 25000.000000000000 1.000000000000 0.000000000000 100.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 N/A 300.000000000000 N/A N/A 300.000000000000 N/A N/A 0.000000000000 N/A N/A 0.000000000000 N/A Y Kelly CRISPR & Gene Editing Technology ETF S000073961 Y 25000.000000000000 0.000000000000 0.000000000000 100.000000000000 0.000000000000 0.000000000000 0.000000000000 100.000000000000 0.000000000000 N/A 300.000000000000 N/A N/A 300.000000000000 N/A N/A 300.000000000000 N/A N/A 300.000000000000 N/A Y true INTERNAL CONTROL RPT 2 strategic_ncen.htm REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

  

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM 

  

To the Shareholders and Board of Trustees of 

Strategic Trust 

  

In planning and performing our audit of the financial statements of Strategic Trust comprising Kelly Hotel & Lodging Sector ETF, Kelly Residential & Apartment Real Estate ETF, Kelly CRISPR & Gene Editing Technology ETF, and Running Oak Efficient Growth ETF (the “Funds”) as of and for the year or period ended August 31, 2023, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), we considered the Funds’ internal control over financial reporting, including controls over safeguarding securities, as a basis for designing our auditing procedures for the purpose of expressing our opinion on the financial statements and to comply with the requirements of Form N-CEN, but not for the purpose of expressing an opinion on the effectiveness of the Funds’ internal control over financial reporting.  Accordingly, we express no such opinion. 

  

The management of the Funds is responsible for establishing and maintaining effective internal control over financial reporting.  In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of controls.  A fund’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles (GAAP).  A fund’s internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the fund; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with GAAP, and that receipts and expenditures of the fund are being made only in accordance with authorizations of management and trustees of the fund; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of a fund’s assets that could have a material effect on the financial statements.  

  

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements.  Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate. 

  

A deficiency in internal control over financial reporting exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis.  A material weakness is a deficiency, or combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the Funds’ annual or interim financial statements will not be prevented or detected on a timely basis. 

  

Our consideration of the Funds’ internal control over financial reporting was for the limited purpose described in the first paragraph and would not necessarily disclose all deficiencies in internal control that might be material weaknesses under standards established by the PCAOB.  However, we noted no deficiencies in the Funds’ internal control over financial reporting and its operation, including controls over safeguarding securities, that we consider to be a material weakness as defined above as of August 31, 2023.  

  

This report is intended solely for the information and use of management and the Board of Trustees of the Funds and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties. 

  

/s/ COHEN & COMPANY, LTD. 

  

COHEN & COMPANY, LTD. 

Cleveland, Ohio  

October 30, 2023