2023 ETF Series Trust (NFRX) 10% Owner Buys 383,729 Shares

What Happened
Harrison Street Real Assets Fund LLC, reported as a 10% owner of 2023 ETF Series Trust (ticker: NFRX), purchased 383,729 shares on 2026-02-09. The reported purchase price was $26.06 per share for a total reported value of $9,999,978. This transaction is coded as a purchase (P), representing an institutional acquisition rather than an executive sale.

Key Details

• Transaction date: 2026-02-09; Filing date (Form 4): 2026-02-10 (filed one day after the trade).
• Price and size: 383,729 shares at $26.06 per share; total value $9,999,978.
• Transaction type: Open market or private purchase (P) — filing lists "open market or private purchase," so execution venue is not explicitly broken out.
• Shares owned after transaction: Not specified in the provided filing extract.
• Insider status: 10% owner (institutional investor), not an officer/director.
• No indication in the provided data of a 10b5-1 plan, gift, option exercise, tax withholding, or late filing.

Context: Purchases by a 10% institutional holder reflect that the fund increased its stake or established a position, which can be interesting to investors but differs from insider trades by company executives. Institutional buys may reflect portfolio allocation or fund strategy rather than a direct signal about company management or near-term corporate developments.