Investors who want to target U.S. companies that allocate more toward capital expenditures may also take a look at the Elkhorn S&P 500 Capital Expenditures Portfolio (NasdaqGM: CAPX), which focuses on those companies that are diligently reinvesting in their businesses to increase market share and competitive moat.
Specifically, CAPX takes the top 100 S&P 500 companies based on efficient capital expenditure as a way to track U.S. firms that have reinvested their money toward meaningful growth and innovation, including top components like Mallinckrodt (NYSE: MNK) 1.25%, Biogen (NasdaqGS: BIIB) 1.25%, Chesapeake Energy (NYSE: CHK) 1.22%, The Williams Companies (NYSE: WMB) 1.19% and United Rentals (NYSE: URI) 1.11%.
The fund includes a larger 22.0% tilt toward the financial sector, along with 18.0% tech, 17.5% health care, 14.7% consumer discretionary 9.3% energy, 8.0% industrials, 5.7% consumer staples, 3.0% materials 1.0% telecom and 0.9% utilities.
CAPX has gained 8.8% year-to-date.
For more information on the markets, visit our current affairs category.