Latest news with #VistaSharesPershingSquareSelectETF
Yahoo
4 days ago
- Business
- Yahoo
Ackman, Druckenmiller-Tracking ETFs Are Latest Industry Gambit
(Bloomberg) -- In a crowded ETF market obsessed with attention-grabbing pitches, one idea keeps coming back: Track the trades of star investors and sell them to the masses. NYC Congestion Toll Brings In $216 Million in First Four Months Now With Colorful Blocks, Tirana's Pyramid Represents a Changing Albania The Economic Benefits of Paying Workers to Move Billionaire Steve Cohen Wants NY to Expand Taxpayer-Backed Ferry NY Wins Order Against US Funding Freeze in Congestion Fight The latest entrant comes from VistaShares, which filed this week for a suite of ETFs designed to replicate the holdings of famed money managers like Bill Ackman, Stanley Druckenmiller and Michael Burry. By combing through regulatory disclosures, the firm aims to build funds that echo the moves of these high-profile investors — a fresh spin on the long-running effort to bottle hedge-fund mystique for retail buyers. VistaShares plans to launch funds tracking the portfolios of Ackman's Pershing Square and Burry's Scion Asset Management, among others, by scouring their 13F filings or quarterly reports submitted to the Securities and Exchange Commission. The VistaShares Pershing Square Select ETF, for instance, would be composed of up to 20 stocks reflecting the publicly disclosed holdings of Ackman's firm, either directly or via derivatives including options or swaps, according to the filing. The other funds — seven in total, including two based on Druckenmiller's Duquesne family office and a Berkshire one — would employ similar strategies. But the offering from VistaShares comes with another caveat: 13F filings have an embedded lag as the money managers submit the regulatory paperwork at the end of each quarter, meaning that their strategies had already been implemented, possibly weeks prior to the public being privy to it. And whatever trend or quirk the money managers might have been looking to take advantage of may even have come to pass by that point. 'Hyper-focusing on a few select managers' holdings is interesting, but I have to question the utility of a product when there's an inherent lag to the holdings,' said Todd Sohn, senior ETF analyst at Strategas Securities. 'Managers can change their mind whenever they want, and the ETF would not necessarily reflect real-time decisions.' Still, the strategy fits into a broader push to democratize institutional-style investing in a low-cost wrapper — and standing out in a saturated field. VistaShares already runs the VistaShares Target 15 Berkshire Select Income ETF (ticker OMAH), which targets names owned by Berkshire Hathaway. Its assets have grown to above $200 million, so the issuer may be looking to replicate the success it's seen with that vehicle, said Sohn. It also is looking to soon launch the VistaShares Animal Spirits Daily 2X Strategy ETF under the ticker WILD, which would take the most popular companies — as measured by flows and assets — among amped-up single-stock ETFs and offer double-leveraged exposure on them. VistaShares runs three ETFs altogether, including OMAH, according to its website. Its co-founder, Jon McNeill, previously served as president at Tesla, and also held a stint at Lyft, the website says. The company did not respond to a request for comment. ETFs built around hedge-fund tracking have had mixed success. The Goldman Sachs Hedge Industry VIP ETF (GVIP) is one standout, with its performance handily beating the S&P 500 so far this year and its assets growing to above $325 million. On the other hand, the Intelligent Livermore ETF (LIVR), which uses AI to harness the brainpower of the investment world's most illustrious minds, holds just $17 million after having launched in September. Meanwhile, the Global X Guru Index ETF (GURU) tracks the top equity holdings of certain hedge funds — via a process also based on regulatory submissions — and the fund holds just $47 million, though it's been around since 2012. 'Investors have always been drawn to tracking 13F filings because they offer a rare glimpse into the portfolios of top fund managers,' said Bloomberg Intelligence's Athanasios Psarofagis. 'Traditionally, this hedge-fund category has been tough to crack in the ETF wrapper. ETFs in the past have tried this and it showed that investors were more interested in what these managers were doing than they are in buying the ETFs.' --With assistance from Isabelle Lee. YouTube Is Swallowing TV Whole, and It's Coming for the Sitcom Mark Zuckerberg Loves MAGA Now. Will MAGA Ever Love Him Back? Millions of Americans Are Obsessed With This Japanese Barbecue Sauce How Coach Handbags Became a Gen Z Status Symbol Will Small Business Owners Knock Down Trump's Mighty Tariffs? ©2025 Bloomberg L.P.
Yahoo
5 days ago
- Business
- Yahoo
New ETFs Offer Exposure to Top Picks of Elite Investors
On Wednesday, Tidal Trust filed with the Securities and Exchange Commission to offer seven exchange-traded funds that may look familiar if you invest in funds from successful investors. The preliminary prospectus shows that VistaShares plans to launch the following new ETFs: VistaShares Pershing Square Select ETF VistaShares Target 15 Pershing Square Select Income ETF VistaShares Scion Asset Management Select ETF VistaShares Target 15 Scion Asset Management Select Income ETF VistaShares Duquesne Select ETF VistaShares Target 15 Duquesne Select Income ETF VistaShares Berkshire Select ETF The funds are based on other firms' 13F filings. Tidal Investments LLC is listed as the investment adviser of the funds while VistaShares Advisors LLC is listed as the subadviser. The management fees and tickers were not included in the filing, and the effective date would be August 11, 2025. The various funds would offer investors access to investment picks of some of the most famous and successful investors, such as Michael Burry of Scion Asset Management—best known for his part in predicting the 2008 stock market crash that went on to be portrayed in the film "The Big Short"—and hedge fund manager Bill Ackman, who runs Pershing Square Holdings. The VistaShares Pershing Square Select ETF, for example, invests in a portfolio of stocks based on the BITA VistaShares Pershing Square Capital Management Portfolio Top Picks Index, which includes up to 20 equities selected by Pershing Square. The other firms whose picks VistaShares includes in the new offerings are the Duquesne Family Office, run by Stanley Druckenmiller, and Warren Buffett's Berkshire Hathaway. This isn't a new move for VistaShares. In March, the firm launched the VistaShares Target 15 Berkshire Select Income ETF (OMAH), which provides investors with exposure to some of Berkshire Hathaway's most representative equity holdings. Smaller ETF issuers are looking for ways to offer innovative solutions for the "alternatives" sleeve of investor portfolios because there are already many low-cost, core ETFs available from large ETF issuers like Blackrock and Vanguard, who have the scale to sustain very low fees, Aniket Ullal, senior vice president and head of ETF research and analytics with CFRA, told 'Targeting more niche strategies allows issuers to stay profitable by charging higher fees for more specialized solutions,' Ullal | © Copyright 2025 All rights reserved Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
