ASTT seeks to deliver 200% of the daily performance of AST SpaceMobile, Inc. (TICKER: ASTS), through derivatives such as swap agreements and exchange-traded equity futures to create leveraged exposure. AST SpaceMobile engages in building a broadband cellular network in space to operate directly with standard, unmodified mobile devices based on an extensive IP and patent portfolio. The portfolio is rebalanced at the end of each trading day to maintain its targeted leverage level, meaning returns over periods longer than a single day can differ significantly from two times the cumulative return of ASTS due to compounding effects. Collateral supporting these derivative positions may be invested in money market instruments, repurchase agreements, or short-term US government securities.