OMAH: Combining the Power of Berkshire with High Monthly Income

At VistaShares, our mission is to deliver innovative, research-driven ETFs that help investors navigate evolving markets while achieving their financial goals.

That’s why we’re proud to launch VistaShares Target 15™ Berkshire Select Income ETF (OMAH)—a unique solution that brings together the time-tested investing philosophy of Warren Buffett’s Berkshire Hathaway with a forward-thinking, options-based income strategy.

OMAH represents a first-of-its-kind approach, designed to provide investors with core equity exposure, high monthly income, and a strategy built to adapt across market cycles.

The ETF’s ticker, OMAH, a nod to Buffett’s nickname, the “Oracle of Omaha,” reflects the ETF’s roots in his proven investment philosophy.

As Adam Patti, CEO of VistaShares, noted in a recent Benzinga interview, “OMAH offers a very different core equity exposure that has clearly resonated with investors for decades, paired with a robust monthly income stream.”

What is OMAH?

OMAH is an actively managed ETF that seeks to generate attractive monthly income while offering investors exposure to a portfolio inspired by Berkshire Hathaway.

Specifically, OMAH:

• Invests in Berkshire Hathaway Inc. (BRK.B) and a selection of Berkshire’s top 20 publicly disclosed equity holdings
• Utilizes a proprietary, data-driven options strategy designed to generate a targeted annual income of 15%, distributed at approximately 1.25% per month
• Is actively managed by VistaShares’ experienced investment committee, leveraging deep research and rigorous risk management

In short, OMAH combines Buffett-style investing with a modern twist—providing investors with the potential for both income generation and long-term capital appreciation.

OMAH Top 10 Holdings:

Source: VistaShares, based on the composition as of 4/2/2025.
Holdings are subject to change. https://www.vistashares.com/etf/omah/#holdings
Portfolio Holdings Disclosures: The ETF Rule requires the ETFs to disclose prominently on their website, publicly available and free of charge, the portfolio holdings that will form the basis for each calculation of NAV per share. Tidal Investments monitors the VistaShares Artificial Intelligence Supercycle ETF and VistaShares Electrification Supercycle ETF website to ensure compliance with the disclosure requirements of the ETF Rule.

The Power Behind OMAH’s Approach

OMAH was designed to address two common challenges faced by today’s investors:

• The Search for Meaningful Income: Many equity income strategies have struggled in a low-yield world. OMAH seeks to address this by targeting a 15% annual income, distributed monthly, using a carefully managed options overlay on a Berkshire-inspired portfolio.
• Core Equity Exposure: OMAH’s portfolio closely reflects Berkshire Hathaway’s largest and most durable holdings—companies that have stood the test of time. By combining this with direct BRK.B exposure, OMAH can serve as part of a portfolio’s core equity allocation.

OMAH effectively creates what some may view as a “synthetic dividend” for Berkshire investors, delivering monthly income from assets that have traditionally not paid dividends — all while retaining exposure to Buffett-style investing.

How Does OMAH Work?

OMAH’s investment strategy has two components:

• Equity Portfolio: The core of the fund consists of BRK.B shares and the top 20 holdings within Berkshire Hathaway’s investment portfolio, as identified by the Solactive VistaShares Berkshire Select Index. This portfolio aims to mirror Berkshire’s disciplined, value-oriented investment approach.
• Options-Based Income Strategy: Overlaying this equity portfolio is a data-driven options strategy managed by the VistaShares team. This approach seeks to generate high monthly income while actively adjusting to changing market conditions. The options portfolio is carefully designed to support the fund’s 15% annual income target without compromising the quality of the underlying equity exposure.

Why Investors and Advisors Should Consider OMAH

OMAH is built for investors who are looking to:

• Generate high monthly income from an equity portfolio
• Maintain exposure to large- and mid-cap companies handpicked by one of the world’s most respected investors
• Add a professionally managed, options-enhanced strategy to complement traditional equity or income allocations
• Potentially diversify with a solution that can function as part of a core equity allocation while also delivering a steady cash flow

Potential Use Cases

From a portfolio construction standpoint, here are some ways OMAH could potentially be plugged into a portfolio:

• Income-focused investors looking to complement core equity exposure
• BRK.B investors seeking to enhance their exposures with an income component
• Investors seeking differentiated strategies to help clients balance income generation and capital appreciation

OMAH Is Already Delivering Results

We are pleased to share that OMAH recently paid its first monthly distribution — delivering a distribution consistent with the 1.25% monthly target. This marks an important first step in the fund’s objective of providing investors with reliable, high- income potential.

Designed for All Market Conditions

OMAH is actively managed by VistaShares in partnership with Tidal Financial Group, a leading ETF investment technology platform. Our combined investment team continuously monitors the fund’s positioning to pursue its income target while adapting to evolving market dynamics.
Importantly, while OMAH’s options overlay is designed to enhance income, it is not specifically a downside protection strategy, and investors should consider this within the context of their broader portfolio.

A First-of-Its-Kind ETF for Income and Berkshire Investors

Whether you are an advisor building diversified client portfolios or an individual investor searching for an income solution aligned with a time-tested equity philosophy, OMAH provides a differentiated approach that is rare in today’s market. By combining Berkshire-style investing with a targeted 15% annual income objective, OMAH aims to stand out as a core solution for income generation and equity exposure.

Explore the full details of OMAH:

Visit the OMAH Fund Page
Download the OMAH Fact Sheet

Learn more about VistaShares ETFs at www.VistaShares.com.

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Definitions

The Solactive VistaShares Berkshire Select Index represents the 20 highest valuation equity securities from the portfolio of the Holding Company.
Distribution Rate: The annual rate an investor would receive if the most recent fund distribution remained the same going forward. The Distribution Rate represents a single distribution from the Fund and is not a representation of the Fund’s total return. The Distribution Rate is calculated by multiplying the most recent distribution by 12 in order
to annualize it, and then dividing by the Fund’s NAV.
12-Month Trailing Distribution Rate: Represents the Distribution Rate an investor would have received if they had held the fund over the last twelve months, assuming the most recent Ex-date NAV. To calculate the 12-Month Distribution Rate, the previous 12 distributions are summed (including income, capital gains, and return of capital during the period), and divided by the most recent Ex-date NAV.
30-Day SEC Yield: 30-Day SEC Yield is based on a formula mandated by the Securities and Exchange Commission (SEC) that calculates a fund’s hypothetical annualized income, as a percentage of its assets. A security’s income, for the purposes of this calculation, is based on the current market yield to maturity (in the case of bonds) or projected dividend yield (for stocks) of the fund’s holdings over a trailing 30-day
period. This hypothetical income will differ (at times, significantly) from the fund’s actual experience; as a result, income distributions from the fund may be higher or lower than implied by the SEC yield.

Investors should consider the investment objectives, risks, charges and
expenses carefully before investing. For a prospectus or summary prospectus with this and other information about the Fund, please call (844) 875-2288 or visit www.vistashares.com.

Read the prospectus or summary prospectus carefully
before investing. Investing involves risk, including possible loss of principal.

Important Information:
Index / Strategy Risks. The Index’s holdings are derived from publicly available data, which may be delayed relative to the then current portfolio of Berkshire Hathaway. Consequently, the Fund’s holdings, which are based on the Index, may not accurately reflect Berkshire Hathaway’s most recent publicly disclosed investment positions and
may deviate substantially from its actual current portfolio. The equity securities represented in the Index are subject to a range of risks, including, but not limited to, fluctuations in market conditions, increased competition, and evolving regulatory environments, all of which could adversely affect their performance. Focused Portfolio Risk. The Fund will hold a relatively focused portfolio that may contain exposure to the securities of fewer issuers than the portfolios of other ETFs. Holding a relatively concentrated portfolio may increase the risk that the value of the Fund could go down because of the poor performance of one or a few investments. Derivatives Risk. Derivatives are financial instruments that derive value from the underlying reference asset or assets, such as stocks, bonds, or funds (including ETFs), interest rates or indexes.
Options Contracts. The use of options contracts involves investment strategies and risks different from those associated with ordinary portfolio securities transactions. The prices of options are volatile and are influenced, among other things, by the current market price, actual and anticipated changes in the value of the underlying instrument,
including the anticipated volatility, which are affected by fiscal and monetary policies and by national and international political, changes in the actual or implied volatility or the reference asset, the time remaining until the expiration of the option contract and economic events.
Equity Market Risk. Common stocks are generally exposed to greater risk than other types of securities, such as preferred stock and debt obligations, because common stockholders generally have inferior rights to receive payment from specific issuers. The equity securities held in the Fund’s portfolio may experience sudden, unpredictable drops in value or long periods of decline in value. U.S. Government and U.S. Agency Obligations Risk. The Fund may invest in securities issued by the U.S. government or its agencies or instrumentalities. U.S. Government obligations include securities issued or guaranteed as to principal and interest by the U.S. Government, its agencies or instrumentalities, such as the U.S. Treasury. New Fund Risk. The Fund is a recently organized management investment company with no operating history. As a result, prospective investors do not have a track record or history on which to base their investment decisions. Newer Sub-Adviser Risk. VistaShares is a recently formed entity and has limited experience with managing an exchange-traded fund, which may limit the Sub-Adviser’s effectiveness.

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