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 9/3/2026

0.70%

6/10/2025

Annual

$127,240,735

4,170,000

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:

0.39%

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.

$30.51

PREMIUM DISCOUNT GRAPH

Premium/Discount History
2025
Q1-26
Q2-26
Q3-26
Q4-26

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 9/5/2026

Ticker

Cusip

Name

Shares

Price

Market Value

Weight

NVDA

67066G104

NVIDIA Corp

44,662

$230.36

$10,288,338.32

8.39%

AAPL

37833100

Apple Inc

31,676

$319.97

$10,135,369.72

8.27%

MSFT

594918104

Microsoft Corp

19,705

$499.70

$9,846,588.50

8.03%

AMZN

23135106

Amazon.com Inc

25,341

$258.51

$6,550,901.91

5.34%

JPM

46625H100

JPMORGAN CHASE & CO.

10,161

$358.64

$3,644,141.04

2.97%

JNJ

478160104

Johnson & Johnson

13,154

$275.23

$3,620,375.42

2.95%

V

92826C839

Visa Inc

9,075

$375.07

$3,403,760.25

2.78%

FGXXX

31846V336

First American Government Obligations Fund 12/01/2031

3,368,378.51

$100.00

$3,368,378.51

2.75%

VLO

91913Y100

Valero Energy Corp

8,170

$370.72

$3,028,782.40

2.47%

KO

191216100

Coca-Cola Co/The

32,497

$88.07

$2,862,010.79

2.33%

TMO

883556102

Thermo Fisher Scientific Inc

4,380

$613.78

$2,688,356.40

2.19%

Cash&Other

Cash&Other

Cash & Other

2,609,742.38

$1.00

$2,609,742.38

2.13%

META

30303M102

Meta Platforms Inc

4,136

$616.77

$2,550,960.72

2.08%

MRK

58933Y105

Merck & Co Inc

17,004

$150.33

$2,556,211.32

2.08%

NFLX

64110L106

Netflix Inc

32,483

$78.25

$2,541,794.75

2.07%

WFC

949746101

Wells Fargo & Co

27,928

$89.97

$2,512,682.16

2.05%

ATI

01741R102

ATI Inc

11,087

$210.65

$2,335,476.55

1.90%

ELF

26856L103

elf Beauty Inc

20,390

$109.67

$2,236,171.30

1.82%

ABNB

9066101

Airbnb Inc

12,004

$181.94

$2,184,007.76

1.78%

BNY

64058100

Bank of New York Mellon Corp/The

13,253

$164.84

$2,184,624.52

1.78%

VRTX

92532F100

Vertex Pharmaceuticals Inc

3,781

$546.12

$2,064,879.72

1.68%

CRWD

22788C105

Crowdstrike Holdings Inc

9,457

$213.10

$2,015,286.70

1.64%

NEM

651639106

Newmont Corp

15,722

$128.09

$2,013,830.98

1.64%

SHOP

82509L107

Shopify Inc

13,566

$145.09

$1,968,290.94

1.61%

FCX

35671D857

Freeport-McMoRan Inc

26,720

$72.73

$1,943,345.60

1.58%

COF

14040H105

Capital One Financial Corp

8,534

$219.60

$1,874,066.40

1.53%

DT

268150109

Dynatrace Inc

35,023

$51.90

$1,817,693.70

1.48%

LLY

532457108

Eli Lilly & Co

1,567

$1,149.36

$1,801,047.12

1.47%

TWLO

90138F102

Twilio Inc

7,257

$232.98

$1,690,735.86

1.38%

DGX

74834L100

Quest Diagnostics Inc

6,910

$237.14

$1,638,637.40

1.34%

APH

32095101

Amphenol Corp

19,308

$82.78

$1,598,316.24

1.30%

SBUX

855244109

Starbucks Corp

14,326

$104.47

$1,496,637.22

1.22%

SPGI

78409V104

S&P Global Inc

3,362

$443.51

$1,491,080.62

1.22%

TXG

88025U109

10X Genomics Inc

21,712

$62.65

$1,360,256.80

1.11%

LITE

55024U109

Lumentum Holdings Inc

1,508

$881.26

$1,328,932.54

1.08%

NTRA

632307104

Natera Inc

4,003

$328.18

$1,313,704.54

1.07%

NET

18915M107

Cloudflare Inc

4,661

$278.92

$1,300,046.12

1.06%

SNOW

833445109

Snowflake Inc

3,852

$337.18

$1,298,817.36

1.06%

PH

701094104

Parker-Hannifin Corp

1,307

$962.59

$1,258,105.13

1.03%

CZR

12769G100

Caesars Entertainment Inc

42,077

$29.68

$1,248,845.36

1.02%

EQT

26884L109

EQT Corp

22,597

$55.17

$1,246,676.49

1.02%

BIIB

09062X103

Biogen Inc

5,569

$220.83

$1,229,802.27

1.00%

WCC

95082P105

WESCO International Inc

3,503

$351.46

$1,231,164.38

1.00%

FWONK

531229755

Liberty Media Corp-Liberty Formula One

12,187

$95.50

$1,163,858.50

0.95%

FRPT

358039105

Freshpet Inc

12,348

$70.24

$867,323.52

0.71%

SLB

806857108

SLB Ltd

15,060

$57.51

$866,100.60

0.71%

OKTA

679295105

Okta Inc

4,983

$170.60

$850,099.80

0.69%

LNG

16411R208

Cheniere Energy Inc

2,595

$292.00

$757,740.00

0.62%

BE

93712107

Bloom Energy Corp

2,982

$252.87

$754,058.34

0.61%

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