Harrison Street Real Assets Fund LLC 4

What Happened

• Harrison Street Real Assets Fund LLC, reported as a 10% owner of 2023 ETF Series Trust (ticker: NFRX), acquired 399,520 shares on 2026-02-02. The purchase price was $25.03 per share for a total transaction value of $9,999,986. This was a purchase (transaction code P), which signals an institutional buy rather than a sale.

Key Details

• Transaction date and price: 2026-02-02 — 399,520 shares at $25.03 each.
• Total value: $9,999,986 (approximately $10.0M).
• Transaction type: P = purchase (open market or private purchase as reported).
• Shares owned after transaction: Not disclosed in the Form 4 filing.
• Filing timeliness: Report filed 2026-02-03 for a 2026-02-02 transaction (filed the next day; not indicated as late).
• Notes: This is an institutional 10% owner purchase, not an executive/insider individual trade.

Context

• Institutional purchases by 10% owners can reflect portfolio rebalancing or a strategic stake; they are not the same as insider trades by company officers. The filing is factual and does not state motives. For retail investors, a near-$10M institutional buy is noteworthy but should be considered alongside other ownership disclosures and broader research.