top of page

QUALITY GROWTH
HGRO US Equity

Sam_headshot_circular.png

SAM RAHMAN, Portfolio Manager

FUND DETAILS

Ticker

Primary Exchange

CUSIP

ISIN

Net Assets

Shares Outstanding

Gross Expense Ratio

Inception Date

Distribution Frequency

​

HGRO US Equity

NYSE

26923Q739

US26923Q7390

Data as of 9/25/2026

0.70%

6/10/2025

Annual

$117,127,939

3,840,000

HGRO OVERVIEW

The Hedgeye Quality Growth ETF (NYSE: HGRO) is an actively managed strategy that seeks long-term capital appreciation, primarily investing in large-cap equity securities with a three-year investment horizon. Managed by Hedgeye Asset Management (HAM) under veteran portfolio manager Sam Rahman, whose 30+ years of global investment experience most recently included a 15-year tenure at Crosby Advisors (the Fidelity family office), the Fund integrates bottom-up stock research, macro/thematic analysis, and disciplined portfolio construction. HGRO’s strategy targets companies across three categories: deep moat compounders, innovators/Disruptors/S-curve beneficiaries, and idiosyncratic special situations. The Fund utilizes the S&P 500 as a benchmark, allowing for a “go anywhere” approach to finding growth and rate-of-change in growth. Portfolio construction seeks to maximize risk-adjusted returns, with 40–50 holdings sized by conviction and diversified across sectors. HGRO offers investors a concentrated, research-driven strategy that seeks to capture quality growth in dynamic markets.

RELATED CONTENT

AdobeStock_492933432_edited_edited.jpg

Daily Net Asset Value (NAV) and Closing Price

NAV:

NAV Change:

NAV Premium Discount:

Price:

Price Change:

30 Day Median Bid/Ask Spread:

0.33%

The ETF's 30 Day Median Bid-Ask Spread is calculated by identifiying the ETF's national best bid and national best offer ("NBBO") as of the end of each 10 second interval during each trading day of the last 30 calendar days and dividing the difference between each such bid and offer by the midpoint of the NBBO. The median of those values is identified and that value is expressed as a percentage rounded to the nearest hundredth.

$30.50

PREMIUM DISCOUNT GRAPH

Premium/Discount History
2025
Q1-26
Q2-26
Q3-26
Q4-26
Days traded at discount
33
20
17
N/A
N/A
Days traded at NAV
1
0
0
N/A
N/A
Days traded at premium
108
41
45
N/A
N/A

The frequency distribution chart presents information about the difference between the daily market price for shares of the Fund and the Fund's reported Net Asset Value. The amount that the Fund's market price is above the reported NAV is called the premium. The amount that the Fund's market price is below the reported NAV is called the discount. The market price is determined using the midpoint between the highest bid and the lowest offer on the listing exchange, as of the time that the Fund's NAV is calculated (usually 4:00 p.m. EST). The vertical axis of the chart shows the premium or discount of the daily market price as a percentage of the NAV. The horizontal axis shows each trading day in the time period, and each data point in the chart represents the Premium/Discount on that day.

PERFORMANCE HISTORY

Cumulative %

Data as of: 6/30/2026

Fund NAV

Closing Price

1 Month

0.31%

3 Month

12.57%

6 Month

10.71%

YTD

10.71%

Since Inception

25.67%

0.09%

12.37%

10.45%

10.45%

25.50%

Avg Annualized %

Data as of: 6/30/2026

Fund NAV

Closing Price

1 Year

20.25%

Since Inception

24.18%

19.88%

24.03%

The performance data quoted represents past performance. Past performance does not guarantee future results. Investment return and principal value will fluctuate, so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the quoted performance.  For month-end fund performance, please call +1 (888) 711-8292.

DISTRIBUTION HISTORY

2025 Distributions

DATE
TICKER
PER SHARE
12/30/2025
HGRO
$0.022699

ETF PORTFOLIO HOLDINGS

Data as of 9/26/2026

Ticker

Cusip

Name

Shares

Price

Market Value

Weight

AAPL

37833100

Apple Inc

28,120

$341.07

$9,590,888.40

8.19%

MSFT

594918104

Microsoft Corp

17,006

$516.17

$8,777,987.02

7.49%

NVDA

67066G104

NVIDIA Corp

35,913

$225.07

$8,082,938.91

6.90%

FGXXX

31846V336

First American Government Obligations Fund 12/01/2031

7,150,353.93

$100.00

$7,150,353.93

6.10%

GOOGL

02079K305

Alphabet Inc

13,975

$343.92

$4,806,282.00

4.10%

AMZN

23135106

Amazon.com Inc

16,993

$249.67

$4,242,642.31

3.62%

META

30303M102

Meta Platforms Inc

5,618

$751.66

$4,222,825.88

3.61%

XOM

30233Q108

ExxonMobil Holdings Corp

23,778

$160.59

$3,818,509.02

3.26%

V

92826C839

Visa Inc

9,511

$367.38

$3,494,151.18

2.98%

AMD

7903107

Advanced Micro Devices Inc

5,265

$630.63

$3,320,266.95

2.83%

JNJ

478160104

Johnson & Johnson

11,600

$271.22

$3,146,152.00

2.69%

JPM

46625H100

JPMORGAN CHASE & CO.

8,387

$343.06

$2,877,244.22

2.46%

TMO

883556102

Thermo Fisher Scientific Inc

4,160

$675.00

$2,808,000.00

2.40%

KO

191216100

Coca-Cola Co/The

30,737

$87.81

$2,699,015.97

2.30%

MRK

58933Y105

Merck & Co Inc

16,102

$148.78

$2,395,655.56

2.05%

PLTR

69608A108

Palantir Technologies Inc

11,991

$189.67

$2,274,332.97

1.94%

VLO

91913Y100

Valero Energy Corp

5,608

$387.18

$2,171,305.44

1.85%

PM

718172109

Philip Morris International Inc

11,196

$190.48

$2,132,614.08

1.82%

NOW

81762P102

ServiceNow Inc

13,333

$135.62

$1,808,221.46

1.54%

CRWD

22788C105

Crowdstrike Holdings Inc

7,022

$252.13

$1,770,456.86

1.51%

QCOM

747525103

QUALCOMM Inc

8,547

$201.97

$1,726,237.59

1.47%

MRVL

573874104

MARVELL TECHNOLOGY INC

6,320

$261.94

$1,655,429.20

1.41%

ELF

26856L103

elf Beauty Inc

15,975

$99.51

$1,589,672.25

1.36%

ANET

40413205

Arista Networks Inc

7,554

$206.55

$1,560,278.70

1.33%

BIIB

09062X103

Biogen Inc

6,852

$227.60

$1,559,515.20

1.33%

SNDK

80004C200

Sandisk Corp

866

$1,777.80

$1,539,574.80

1.31%

VRTX

92532F100

Vertex Pharmaceuticals Inc

2,926

$526.19

$1,539,631.94

1.31%

DELL

24703L202

Dell Technologies Inc

2,708

$562.89

$1,524,306.12

1.30%

DT

268150109

Dynatrace Inc

26,319

$57.95

$1,525,186.05

1.30%

SNOW

833445109

Snowflake Inc

4,327

$335.94

$1,453,612.38

1.24%

DHR

235851102

Danaher Corp

6,331

$224.49

$1,421,246.19

1.21%

DIS

254687106

Walt Disney Co/The

12,888

$106.15

$1,368,061.20

1.17%

LNG

16411R208

Cheniere Energy Inc

5,040

$268.54

$1,353,441.60

1.16%

NTRA

632307104

Natera Inc

3,235

$412.56

$1,334,631.60

1.14%

TXG

88025U109

10X Genomics Inc

14,580

$85.71

$1,249,651.80

1.07%

TWLO

90138F102

Twilio Inc

4,404

$275.80

$1,214,623.20

1.04%

OKTA

679295105

Okta Inc

6,113

$195.19

$1,193,196.47

1.02%

NET

18915M107

Cloudflare Inc

3,343

$349.02

$1,166,773.86

1.00%

HOOD

770700102

Robinhood Markets Inc

9,616

$119.40

$1,148,150.40

0.98%

NEM

651639106

Newmont Corp

9,419

$121.43

$1,143,749.17

0.98%

TSLA

88160R101

Tesla Inc

3,021

$372.11

$1,124,144.31

0.96%

ETN

G29183103

Eaton Corp PLC

2,402

$439.98

$1,056,831.96

0.90%

BBY

86516101

Best Buy Co Inc

10,374

$90.51

$938,950.74

0.80%

EBAY

278642103

eBay Inc

8,552

$107.90

$922,760.80

0.79%

WCC

95082P105

WESCO International Inc

2,228

$367.44

$818,656.32

0.70%

LITE

55024U109

Lumentum Holdings Inc

768

$941.65

$723,187.20

0.62%

BE

93712107

Bloom Energy Corp

2,453

$288.70

$708,181.10

0.60%

COIN

19260Q107

Coinbase Global Inc

2,991

$195.11

$583,574.01

0.50%

TRLV

9223372036854776000

Trulieve Cannabis Corp

45,961

$12.21

$561,183.81

0.48%

PBR

71654V408

Petroleo Brasileiro SA - Petrobras

27,093

$20.37

$551,884.41

0.47%

Cash&Other

Cash&Other

Cash & Other

-720,433.11

$1.00

$-720,433.11

-0.62%

Fund holdings are subject to change at any time and should not be considered a recommendation to buy or sell any security

 

Index Definitions

 

S&P 500 Index (Ticker: SPX Index): The S&P 500 is a stock market index that tracks the stock performance of 500 of the largest companies listed on stock exchanges in the United States.

 

Definitions

 

S Curves: S Curves illustrate the non-linear progression of growth, where the trajectory of change or adoption follows a characteristic S-shaped pattern. This concept is used to convey how a particular sector, innovation, or investment theme may experience gradual early adoption, rapid acceleration, and ultimately maturity or saturation.

​

Margin-Expanding Compounder: A company that is growing earnings and free cash flow over time (“compounder”), while also expanding its profit margins (e.g., gross margin, operating margin, or EBITDA margin).

 

Free Cash Flow: Free Cash Flow is the cash a company generates from its operations after accounting for capital expenditures.

 

Sharpe Ratio: A risk-adjusted performance measure that shows how much excess return an investment has delivered for each unit of total risk taken.​

 

Important Information

 

Before investing in the fund, the investment objective, risks, charges and expenses must be considered carefully before investing. The statutory and summary prospectus contain this and other important information about the fund. Copies of the fund’s prospectus may be obtained by visiting www.hedgeyeam.com/HGRO or calling +1 (888) 711-8292. Read it carefully before investing.

 

Investing involves risks including the risk of principal loss. The Adviser is newly formed and has not previously managed an ETF. Accordingly, investors in the Fund bear the risk that the Adviser's inexperience may limit its effectiveness.  

 

The Fund is non-diversified, which means that it may invest a large percentage of its assets in a particular issuer and increases the risk that the value of the Fund could decrease due to poor performance of a single investment or limited number of investments.

 

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. 

 

As an actively managed investment portfolio, the Fund is subject to the Adviser's investment decisions about individual securities impact on the Fund's ability to achieve its investment objective. there is no guarantee that the Adviser's investment strategy will meet it's investment objective or produce the desired results. Large cap companies may be less able than mid and small capitalization companies to adapt to changing market conditions. Investments in stocks of mid-capitalization companies may be subject to more abrupt or erratic market movements 

 

The Fund's investment strategies may employ quantitative algorithms and models that rely heavily on the use of proprietary and non-proprietary data, Models may also have hidden biases or exposure to broad structural or sentiment shifts. There can be no assurance that use of a quantitative model will enable the Fund to achieve positive returns or outperform the market. 

 

When the Fund uses derivatives, there may be imperfect correlation between the value of the underlying instrument and the derivative, which may prevent the Fund from achieving its investment objective. 

 

The Hedgeye Quality Growth ETF may invest in foreign securities. Investments in the securities of non-U.S. issuers involve risks beyond those associated with investments in U.S. securities. These additional risks include greater market volatility, the availability of less reliable financial information, higher transactional and custody costs, taxation by foreign governments, decreased market liquidity and political instability.

 

ETFs are subject to additional risks that do not apply to conventional mutual funds, including the risks that the market price of an ETF's shares may trade at a premium or discount to its net asset value, an active secondary trading market may not develop or be maintained, or trading may be halted by the exchange in which they trade, which may impact an ETF's ability to sell its shares. Shares of any ETF are bought and sold at market price (not NAV) and are not individually redeemed from the ETF. Brokerage commissions will reduce returns.

 

The Distributor is Foreside Fund Services, LLC.

bottom of page