A SEC filing reveals Ruane, Cunniff & Goldfarb plans to launch an ETF in an active non-transparent wrapper, according to an article in CityWireUSA. The ETF appears similar to the venerable Sequoia fund, which RCG runs.

The $5.1 billion Sequoia fund turned 51 in July, and its four managers will also form the portfolio management line-up for the ETF. The legendary fund traces its roots to the friendship between RCG co-founder Bill Ruane and Warren Buffett, who recommended that his clients invest with Ruane when he closed his investment partnership in 1969. Ruane then founded RCG with Richard Cunniff in 1970.

As quoted in the article, Morningstar’s chief ratings officer Jeffrey Ptak tweeted about the filing: “I compared forthcoming ETF’s ‘principal investment strategies’ language to that of existing open-end fund and they’re more/less the same. (Main diffs relate to ETF wrapper, semi-transparent holdings disclosure, etc.) So looks like it will be an ETF version of the existing fund.”