Harrison Street Real Assets Fund LLC 4

What Happened

• Harrison Street Real Assets Fund LLC, listed as a 10% owner of 2023 ETF Series Trust (NFRX), made a purchase (transaction code P) of 390,320 shares on February 5, 2026. The reported price was $25.62 per share, for a total transaction value of $9,999,998.
• This was an acquisition (purchase), which is generally viewed as a direct investment rather than a liquidation.

Key Details

• Transaction date and price: 2026-02-05 at $25.62 per share.
• Shares purchased: 390,320; Total value: $9,999,998.
• Transaction type: P = Purchase (open market or private purchase as reported).
• Shares owned after transaction: Not disclosed in the filing.
• Filing timeliness: Report filed on 2026-02-06 for a 2026-02-05 transaction (appears timely).
• Notable footnotes: None disclosed in the summary provided.

Context

• The buyer is an institutional 10% owner, not an individual executive; institutional purchases can reflect portfolio allocation or fund activity rather than insider sentiment.
• Purchases tend to be more informative than sales when assessing insider activity, but the filing itself does not state the buyer’s motivation.