LionShares U.S. Equity Total Return ETF
TOT
New York Stock Exchange Arca- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- CEO
- Todd Alberico
- Sector
- Financial Services
- Industry
- Asset Management
- Address
- United States of America
- IPO Date
- Sep 3, 2025
- CIK
- 0000879764
- Website
- lionsharesetf.com
- Similar Companies
- Business
- LionShares LLC (LionShares) is a New York-based exchange-traded fund (ETF) issuer that offers innovative, actively managed investment products focused on providing tax-efficient exposure to U.S. equities. Founded in 2025 by former Jane Street quantitative trader Sofia Massie, the firm is headquartered in New York, NY, and operates primarily in the United States, targeting long-term investors seeking to minimize tax drag and maximize compounding returns through optimized fund structures. Its debut product, the LionShares U.S. Equity Total Return ETF (NYSE Arca: TOT; CUSIP: 00777X470), launched on September 3, 2025, seeks long-term capital growth by investing primarily in ETFs that track the broad U.S. equity market, such as the Vanguard Total Stock Market ETF (VTI), with supplemental flexibility to employ futures or options for operational efficiency; the fund actively manages its portfolio to minimize or eliminate dividend distributions, thereby reducing taxable events and enabling continuous investment without reinvestment drag. TOT features a gross expense ratio of 0.25% and a net expense ratio of 0.07% pursuant to a contractual fee waiver by the advisor through at least September 1, 2026; it trades on NYSE Arca with assets under management of approximately $6.4 million as of late 2025 and maintains a diversified portfolio allocation across U.S. sectors including technology (33%), financial services (13%), healthcare (10%), and consumer cyclical (10%). The ETF is distributed by Quasar Distributors, LLC, and caters to cost-conscious investors desiring large-blend exposure to U.S. stocks without the performance erosion from traditional dividend payouts. In a major recent development, LionShares launched TOT on September 3, 2025, as its inaugural ETF, marking the firm's entry into the ETF marketplace with a novel strategy designed to address structural inefficiencies in conventional equity funds by prioritizing after-tax total return. No additional acquisitions, partnerships, funding rounds, or product launches beyond TOT's debut have been reported through December 2025.