Wednesday’s after-hours session marked the start of the 13F filing season, giving everyday investors an opportunity to see what stocks and ETFs were bought and sold by some of Wall Street’s biggest names during the second quarter.
In what is probably no more than a coincidence, Global X announced its Global X Top Guru Holdings Index ETF (NYSEArca: GURU), an ETF designed to give investors exposure to stocks that regularly pop up in 13F filings, has crossed the $100 million in assets under management mark. As of Tuesday, GURU had $115.6 million in AUM. [ETF Spotlight: Hedgefund Clone]
GURU tracks the Top Guru Holdings Index, which is comprised of the top U.S. listed equity positions taken from hedge fund quarterly Form 13F reports and equal weights the component holdings. It took GURU, which charges 0.75% per year, 14 months to surpass $100 million in assets.
“We’ve been extremely pleased that investors are responding so strongly to the fund and that we are able to deliver such strong returns,” saidJustin Young, Head of Capital Markets at Global X, according to ETF Daily News.
GURU has returned 46.1% since its debut and over 23% this year. GURU’s index only considers those hedge funds with concentrated top holdings, though the fund’s holdings are not heavily concentrated. No individual holding receives a weight of more than 2.52%. Top holdings include Diamondback Energy (NasdaqGM: FANG), GameStop (NYSE: GME), Pandora (NYSE: P) and Lockheed Martin (NYSE: LMT). [Global X Launches Hedge Fund Replication ETF]