Ruane Cunniff Launches $6.6 Billion Sequoia ETF Through Fund Conversion

Ruane Cunniff has launched the actively managed Sequoia ETF (SEQ) on the NYSE, combining its 56-year-old Sequoia Fund mutual fund and the majority of its taxable separately managed accounts into a single $6.6 billion ETF. The firm believes the transaction ranks among the largest active ETF launches to date. Completed on October 16, the conversion preserves Sequoia’s longstanding strategy of investing in a concentrated portfolio of high-quality businesses purchased at reasonable valuations. The ETF currently holds 22 companies and is managed by the investment committee led by Arman Gokgol-Kline, John Harris and Trevor Magyar. The ETF structure offers potential tax efficiency, intraday trading and daily holdings transparency. Since its inception in July 1970 through September 2026, the predecessor Sequoia Fund delivered a 13.3% annualized net return, compared with 11.6% for the S&P 500.