Since 1970 We Have Built An Enviable Track Record

Sequoia ETF is a concentrated, value-oriented actively-managed ETF that invests in mid- and large-capitalization companies in the United States and to a lesser extent other developed markets. We evaluate investments with the mindset of a long-term owner of a business rather than a short-term holder of a stock, focusing exclusively on things we believe we can understand, like the quality of a business franchise, the  competence of a management team, or the structure of an industry, rather than factors we  consider inherently unpredictable, like the direction of the economy or the sentiment of the  stock market. While we research and own a wide range of businesses, we prefer high-quality  companies run by outstanding management teams that can grow their earnings rapidly over long periods of time. In all of our investments, we aim to create a margin of safety by  purchasing our interest in a business for a discount to our estimate of its intrinsic value, and  we aim to capitalize on the depth of our research by concentrating our capital in a small and  carefully selected group of companies.

Fund Facts

FundSequoia ETF
Fund InceptionJuly 15, 1970
Listing ExchangeNYSE Arca
ETF Listing DateOct 16, 2026
TickerSEQ
CUSIP664925757
CustodianBrown Brothers Harriman
Gross Expense Ratio0.99%

Important Disclosures and Definitions:

Please consider the investment objectives, risks, charges and expenses of the Fund carefully before investing. The Fund’s prospectus and summary prospectus contain this and other information about the Fund. You may obtain a copy by visiting the Fund Documents section above or by calling 1-844-737-3230. Please read the prospectus and summary prospectus carefully before investing.

Shares of the Fund are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Market price returns are based on the midpoint of the bid/ask spread at 4:00 p.m. ET and do not represent the returns you would receive if you traded shares at other times. Brokerage commissions will reduce returns.

The Fund is non-diversified, meaning that it invests its assets in a smaller number of companies than many other funds. As a result, an investment in the Fund has the risk that changes in the value of a single security may have a significant effect, either negative or positive, on the Fund’s net asset value per share. Investing involves risk, including possible loss of principal.

12 month Distribution Yield measures the annualized cash distributions paid by a fund relative to its NAV. This rate does not represent the total return of a fund. Distribution Yield is calculated by annualizing the fund’s most recent distribution and dividing it by the fund’s NAV as of the date of the distribution. Because the calculation is based on the most recent distribution, it may not be indicative of future distributions or the fund’s long-term yield.

30-Day SEC Yield represents net investment income earned by a fund over a 30-day period, expressed as an annual percentage rate based on the fund’s share price at the end of the 30-day period.

NAV Return represents the closing price of underlying securities.

Market Return is calculated using the price at which investors buy and sell ETF shares in the market.

S&P 500 Index is an unmanaged, capitalization-weighted index of the common stocks of 500 major US companies.

On October 16, 2026, the Fund acquired the assets and assumed the liabilities of the Sequoia Fund, Inc. (the “Predecessor Fund”), in a reorganization (the “Reorganization”). As a result of the Reorganization, the Fund adopted the performance and financial history of the Predecessor Fund. The performance information provided above is that of the Predecessor Fund for periods prior to October 16, 2026. The Fund has the same investment objective, investment strategies, fundamental investment policies and management team as the Predecessor Fund.

Shares of the Fund are distributed by Northern Lights Distributors, LLC (Member FINRA). Ruane Cunniff L.P. is independent of and not affiliated with Northern Lights Distributors, LLC. An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Shares may be offered only to persons in the United States and by way of a prospectus.

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