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QUALITY GROWTH
HGRO US Equity

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 8/8/2025

0.70%

6/10/2025

Annual

$24,864,633

940,000

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.

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Daily Net Asset Value (NAV) and Closing Price

NAV:

NAV Change:

NAV Premium Discount:

Price:

Price Change:

30 Day Median Bid/Ask Spread:

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.

Fund Documents

0.66%

0.14%

$26.49

0.65%

0.15%

$26.45

PREMIUM DISCOUNT GRAPH

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: 7/31/2025

Fund NAV

1 Month

N/A%

3 Month

N/A%

6 Month

N/A%

YTD

N/A%

Since Inception

6.24%

Closing Price

N/A%

N/A%

N/A%

N/A%

6.48%

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.

ETF PORTFOLIO HOLDINGS

Data as of 8/9/2025

Ticker

Cusip

Name

Shares

Price

Market Value

Weight

NVDA

67066G104

NVIDIA Corp

12,740

$182.70

$2,327,598.00

9.26%

MSFT

594918104

Microsoft Corp

4,214

$522.04

$2,199,876.56

8.75%

AAPL

37833100

Apple Inc

7,389

$229.09

$1,692,746.01

6.74%

AMZN

23135106

Amazon.com Inc

6,690

$222.69

$1,489,796.10

5.93%

GOOGL

02079K305

Alphabet Inc

6,525

$201.42

$1,314,265.50

5.23%

AVGO

11135F101

Broadcom Inc

2,928

$304.97

$892,952.16

3.55%

JPM

46625H100

JPMORGAN CHASE & CO.

2,385

$288.76

$688,692.60

2.74%

META

30303M102

Meta Platforms Inc

879

$769.30

$676,214.70

2.69%

CSCO

17275R102

Cisco Systems Inc

8,172

$71.79

$586,667.88

2.33%

CAT

149123101

Caterpillar Inc

1,330

$416.52

$553,971.60

2.20%

GE

369604301

GE AEROSPACE

2,005

$275.01

$551,395.05

2.19%

GS

38141G104

Goldman Sachs Group Inc/The

760

$721.27

$548,165.20

2.18%

NFLX

64110L106

Netflix Inc

442

$1,211.64

$535,544.88

2.13%

JNJ

478160104

Johnson & Johnson

2,983

$173.33

$517,043.39

2.06%

MCO

615369105

Moody's Corp

950

$515.29

$489,525.50

1.95%

PH

701094104

Parker-Hannifin Corp

665

$727.74

$483,947.10

1.93%

MA

57636Q104

Mastercard Inc

838

$574.32

$481,280.16

1.92%

TMO

883556102

Thermo Fisher Scientific Inc

1,023

$460.72

$471,316.56

1.88%

LLY

532457108

Eli Lilly & Co

708

$625.65

$442,960.20

1.76%

ORCL

68389X105

Oracle Corp

1,713

$250.05

$428,335.65

1.70%

GEV

36828A101

GE Vernova Inc

620

$649.09

$402,435.80

1.60%

LVS

517834107

Las Vegas Sands Corp

7,634

$52.63

$401,777.42

1.60%

PM

718172109

Philip Morris International Inc

2,345

$170.18

$399,072.10

1.59%

WFC

949746101

Wells Fargo & Co

4,847

$77.85

$377,338.95

1.50%

CME

12572Q105

CME Group Inc

1,330

$282.21

$375,339.30

1.49%

NKE

654106103

NIKE Inc

5,047

$74.19

$374,436.93

1.49%

CCEP

G25839104

Coca-Cola Europacific Partners PLC

3,800

$94.76

$360,088.00

1.43%

ROK

773903109

Rockwell Automation Inc

1,045

$333.23

$348,225.35

1.39%

RACE

N3167Y103

FERRARI NV

760

$443.84

$337,318.40

1.34%

FGXXX

31846V336

First American Government Obligations Fund 12/01/2031

327,581.1

$100.00

$327,581.10

1.30%

COF

14040H105

Capital One Financial Corp

1,555

$208.23

$323,797.65

1.29%

COP

20825C104

ConocoPhillips

3,238

$93.91

$304,080.58

1.21%

WMB

969457100

Williams Cos Inc/The

4,854

$57.89

$280,998.06

1.12%

VST

92840M102

Vistra Corp

1,330

$202.12

$268,819.60

1.07%

FWONK

531229755

Liberty Media Corp-Liberty Formula One

2,756

$96.00

$264,576.00

1.05%

DGX

74834L100

Quest Diagnostics Inc

1,471

$176.96

$260,308.16

1.04%

LNG

16411R208

Cheniere Energy Inc

1,091

$230.83

$251,835.53

1.00%

SNOW

833445109

Snowflake Inc

1,309

$191.73

$250,974.57

1.00%

ULTA

90384S303

ULTA BEAUTY INC

493

$498.21

$245,617.53

0.98%

AMT

03027X100

AMERICAN TOWER CORP

1,183

$206.51

$244,301.33

0.97%

Cash&Other

Cash&Other

Cash & Other

223,462.55

$1.00

$223,462.55

0.89%

ANET

40413205

Arista Networks Inc

1,450

$139.18

$201,811.00

0.80%

NSC

655844108

Norfolk Southern Corp

633

$280.03

$177,258.99

0.71%

AMD

7903107

Advanced Micro Devices Inc

925

$172.76

$159,803.00

0.64%

DG

256677105

Dollar General Corp

1,087

$116.32

$126,439.84

0.50%

VMC

929160109

Vulcan Materials Co

437

$286.52

$125,209.24

0.50%

ABBV

00287Y109

AbbVie Inc

625

$198.05

$123,781.25

0.49%

DKNG

26142V105

DraftKings Inc

2,809

$42.88

$120,449.92

0.48%

CRCL

172573107

Circle Internet Group Inc

614

$159.03

$97,644.42

0.39%

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.

 

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.

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