As of October 16, 2026 Sequoia Fund has reorganized from a mutual fund into an actively-managed exchange-traded fund, or Active ETF, which trades on the New York Stock Exchange under the ticker “SEQ”.
For shareholders that as of October 15, 2026 held their Sequoia Fund mutual fund shares within a brokerage account such as Schwab, Fidelity, Vanguard, or another bank, your mutual fund shares have participated in the ETF reorganization and will be available to trade during the week of Oct 19, 2026. Please note, it may take a day or two before you see the ETF shares in your account.
If you previously requested a transfer and do not see your Sequoia investment in your brokerage account at this point, it means your transfer was not processed in time, and you still held mutual fund shares directly with the mutual fund’s transfer agent as of October 15, 2026. Please see below.
For shareholders that as of October 15, 2026 still held their Sequoia Fund shares directly with the mutual fund’s transfer agent, SS&C, your shares have been transferred to a “hold-only” account at the ETF’s new administrator, Ultimus Fund Solutions. They HAVE NOT been liquidated.
Hold-only account owners are able to transfer their shares to a brokerage account starting Oct 20. Please call your broker to initiate the transfer. They should submit a NON-ACAT ASSET TRANSFER REQUEST using your Sequoia Fund account number. That request should be sent to Ultimus Fund Solutions:
BY FAX:
1-877-513-0756
BY MAIL:
225 Pictoria Drive
Suite 450
Cincinnati, OH 45246
A few things to keep in mind:
- The receiving account must be registered in the same name and the same account registration type (e.g., taxable to taxable, Roth to Roth) as your Sequoia account. For help with change of ownership requests, please contact Ultimus at 833-707-5707.
- Your broker will need your Sequoia Fund account number, which carries over to your Sequoia ETF investment.
- Nearly all brokerage accounts are able to take delivery of ETF shares, but some do have restrictions, so please check with your broker.
Note that Ruane Cunniff cannot advise on the status of your transfer request. Please direct status inquiries to your broker or Ultimus at 833-707-5707.
It is important to understand that the hold-only account is not a long-term solution. With the exception of a full liquidation, which is likely to have tax implications, all trading activity has been halted in hold-only accounts until your shares settle in your brokerage account. Additionally, any future distributions for hold-only accounts will be made in cash, and any automatic withdrawals such as Required Minimum Distributions for retirement accounts have been halted.
Finally, if you do not yet have a brokerage account and would like to open one, or for any other inquiries, please send an email to ir@ruanecunniff.com or call 1-800-737-3230 and our team will get back to you as soon as possible.