Sequoia ETF

After careful deliberation, we are evolving our Sequoia strategy into an active exchange traded fund (“ETF”). The Sequoia ETF has been established to receive the portfolio assets of Sequoia Fund Inc., our registered mutual fund, and of any taxable clients with separately managed accounts (SMAs) following the Sequoia strategy and choosing to participate.

Participation in the ETF conversion will be required for investors in our mutual fund (assuming a successful shareholder vote), but optional for SMA clients of our Sequoia strategy. Sequoia ETF (NYSE: SEQ) is due to go live in late 2026.

For account-specific questions and to confirm your account eligibility, please contact your Ruane Cunniff account administrator.