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]
“Academic and industry research shows that there is significant information value in 13F disclosures – what some of investing’s best minds are buying and selling,” said Global X CEOBruno del Ama, according to ETF Daily News. “GURU is the culmination of extensive research to optimize the value derived from the information of what these investment gurus are buying.”
GURU has also been ranked the second best-performing out of 938 large cap core mutual funds and ETFs by fund ratings firm Lipper. The fund’s primary rival is the AlphaClone Alternative Alpha ETF (NYSEArca: ALFA), which is up 18.5% this year.
Global X Top Guru Holdings Index ETF
ETF Trends editorial team contributed to this post.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.