Point Bridge Capital

Last updated
Point Bridge Capital
Company type Private company
Industry Financial services
Founded2013;11 years ago (2013)
FounderHal Lambert
Headquarters,
Key people
Hal Lambert (Founder and CEO)
ProductsMAGA ETF, investment management advice
Website www.pointbridgecapital.com

Point Bridge Capital is an American investment management company based in Texas that was founded by Hal Lambert in 2013. It is best known for its "MAGA ETF", an exchange-traded fund that invests in companies that are especially supportive of the United States Republican political party. The name is a nod to Make America Great Again, the 2016 presidential campaign slogan of Donald Trump. In addition Point Bridge provides investment management advice to high-net-worth individual.

Contents

The MAGA ETF fund is traded on the BATS Global Markets exchange. Its selection criteria uses Federal Election Commission data to select the top 150 US public companies that meet the political target. The fund is administered by Point Bridge and distributed by Foreside Fund Services. [1]

History

Point Bridge Capital was established by Hal Lambert in 2013.

Point Bridge capital launched the MAGA ETF on September 6, 2017 in reaction to Target Corp's inclusive bathroom policy in 2016 and Donald Trump's nomination. [2] It has a higher expense ratio of 0.72% than simple trackers and funds, which run from 0.04% to 0.08%. [3] [4]

In 2018 the holdings ($39 million) were about 21% industrials, 20% finance, 17% oil and gas, and only 0.6% in tech, with top holdings in Freeport-McMoRan, Apache Corporation, Marathon Oil, TechnipFMC, and Williams Companies. [2]

By February 29, 2020, the top holdings were L Brands, Apache Corp, Rollins, Inc., NextEra Energy, and Old Dominion Freight Line. [3]

Hal Lambert was previously a director at Credit Suisse and manager at JP Morgan. Politically, Lambert is a Republican donor and finance chair, and was on the 2017 Trump inaugural committee. [2] Lambert is a frequent guest on Fox Business and has promoted the MAGA ETF at FreedomFest 2018, [5] and on CNBC, [2] Hugh Hewitt, Mike Gallagher, Fox News, Fox Business, One America News Network, i24 News, and Yahoo! Finance. [6]

Related Research Articles

Passive management is an investing strategy that tracks a market-weighted index or portfolio. Passive management is most common on the equity market, where index funds track a stock market index, but it is becoming more common in other investment types, including bonds, commodities and hedge funds.

An index fund is a mutual fund or exchange-traded fund (ETF) designed to follow certain preset rules so that it can replicate the performance ("track") of a specified basket of underlying investments. While index providers often emphasize that they are for-profit organizations, index providers have the ability to act as "reluctant regulators" when determining which companies are suitable for an index. Those rules may include tracking prominent indices like the S&P 500 or the Dow Jones Industrial Average or implementation rules, such as tax-management, tracking error minimization, large block trading or patient/flexible trading strategies that allow for greater tracking error but lower market impact costs. Index funds may also have rules that screen for social and sustainable criteria.

<span class="mw-page-title-main">SoftBank Group</span> Japanese investment holding company

SoftBank Group Corp. is a Japanese multinational investment holding company headquartered in Minato, Tokyo, Japan which focuses on investment management. The group primarily invests in companies operating in technology that offer goods and services to customers in a multitude of markets and industries ranging from the internet to automation. With over $100 billion in capital at its onset, SoftBank's Vision Fund is the world's largest technology-focused venture capital fund. Fund investors included sovereign wealth funds from countries in the Middle East.

<span class="mw-page-title-main">Fidelity Investments</span> American multinational financial services corporation

Fidelity Investments, formerly known as Fidelity Management & Research (FMR), is an American multinational financial services corporation based in Boston, Massachusetts. Established in 1946, the company is one of the largest asset managers in the world, with $5.4 trillion in assets under management, and $14.1 trillion in assets under administration, as of June 2024, Fidelity Investments operates a brokerage firm, manages a large family of mutual funds, provides fund distribution and investment advice, retirement services, index funds, wealth management, securities execution and clearance, asset custody, and life insurance.

An exchange-traded fund (ETF) is a type of investment fund that is also an exchange-traded product, i.e., it is traded on stock exchanges. ETFs own financial assets such as stocks, bonds, currencies, debts, futures contracts, and/or commodities such as gold bars. Many ETFs provide some level of diversification compared to owning an individual stock.

<span class="mw-page-title-main">Jim Cramer</span> American stockbroker, television personality, entertainer, author

James Joseph Cramer is an American television personality, author, entertainer, and former hedge fund manager. He is the host of Mad Money on CNBC, and an anchor on Squawk on the Street. After graduating from Harvard College and Harvard Law School, he worked for Goldman Sachs and then became a hedge fund manager, founder, and senior partner of Cramer Berkowitz. He co-founded TheStreet, which he wrote for from 1996 to 2021. Cramer hosted Kudlow & Cramer from 2002 to 2005. Mad Money with Jim Cramer first aired on CNBC in 2005. Cramer has written several books, including Confessions of a Street Addict (2002), Jim Cramer's Real Money: Sane Investing in an Insane World (2005), Jim Cramer's Mad Money: Watch TV, Get Rich (2006), and Jim Cramer's Get Rich Carefully (2013).

DigitalBridge Group, Inc. is a global digital infrastructure investment firm. The company owns, invests in and operates businesses such as cell towers, data centers, fiber, small cells, and edge infrastructure. Headquartered in Boca Raton, DigitalBridge has key offices in Los Angeles, New York, London, and Singapore.

A "fund of funds" (FOF) is an investment strategy of holding a portfolio of other investment funds rather than investing directly in stocks, bonds or other securities. This type of investing is often referred to as multi-manager investment. A fund of funds may be "fettered", meaning that it invests only in funds managed by the same investment company, or "unfettered", meaning that it can invest in external funds run by other managers.

<span class="mw-page-title-main">BlackRock</span> American investment company

BlackRock, Inc. is an American multinational investment company. Founded in 1988, initially as an enterprise risk management and fixed income institutional asset manager, BlackRock is the world's largest asset manager, with US$11.5 trillion in assets under management as of December 31, 2023. Headquartered in New York City, BlackRock has 70 offices in 30 countries, and clients in 100 countries.

State Street Global Advisors (SSGA) is the investment management division of State Street Corporation founded in 1978 and the world's fourth largest asset manager, with nearly US$4.1 trillion in assets under management as of December 31, 2023. SSGA operates through State Street Global Advisors Trust Company, which is a subsidiary of State Street Bank and Trust Company.

<span class="mw-page-title-main">Gary Gensler</span> American banker (born 1957)

Gary S. Gensler is an American government official and former investment banker serving as the chair of the U.S. Securities and Exchange Commission (SEC). Gensler previously worked for Goldman Sachs and has led the Biden–Harris transition's Federal Reserve, Banking, and Securities Regulators agency review team. Prior to his appointment, he was professor of Practice of Global Economics and Management at the MIT Sloan School of Management.

<span class="mw-page-title-main">Apollo Global Management</span> American private equity company

Apollo Global Management, Inc. is an American asset management firm that primarily invests in alternative assets. As of 2022, the company had $548 billion of assets under management, including $392 billion invested in credit, including mezzanine capital, hedge funds, non-performing loans, and collateralized loan obligations, $99 billion invested in private equity, and $46.2 billion invested in real assets, which includes real estate and infrastructure. The company invests money on behalf of pension funds, financial endowments, and sovereign wealth funds, as well as other institutional and individual investors.

A Business Development Company ("BDC") is a form of unregistered closed-end investment company in the United States that invests in small and mid-sized businesses. This form of company was created by the US Congress in 1980 in the amendments to the Investment Company Act of 1940. Publicly filing firms may elect regulation as BDCs if they meet certain requirements of the Investment Company Act.

Tricadia Capital Management, LLC was a New York based asset management company. As of July 17, 2020, its primary website is offline.

<span class="mw-page-title-main">WisdomTree Investments</span> U.S. ETF and ETP asset manager company

WisdomTree, Inc. is a global exchange-traded fund (ETF) and exchange-traded product (ETP) sponsor and asset manager with headquarters in New York. WisdomTree launched its first ETFs in June 2006, and became one of the major ETF providers in the United States. WisdomTree sponsors different ETFs that span asset classes and countries worldwide. Categories include: U.S. and International Equity, Currency, Fixed Income and Alternatives.

<span class="mw-page-title-main">Digital Currency Group</span> American venture capital company

Digital Currency Group (DCG) is a venture capital company focusing on the digital currency market. It is located in Stamford, Connecticut. The company has the subsidiaries Foundry, Genesis, Grayscale Investments, and Luno. It also formerly owned CoinDesk.

<span class="mw-page-title-main">CI Financial</span> Largest investment management firm by assets under management in Canada

CI Financial is a Canadian investment management company based in Toronto, Ontario. It offers investment management and wealth management services targeted to high net worth retail investors, as well as brokerage and trading services to portfolio managers and institutional investors.

<span class="mw-page-title-main">Cathie Wood</span> American investor and businesswoman

Catherine Duddy Wood is an American investor and founder, chief executive officer (CEO), and chief investment officer (CIO) of Ark Invest, an investment management firm.

<span class="mw-page-title-main">Ark Invest</span> American asset management firm

ARK Investment Management LLC is an American investment management firm based in St. Petersburg, Florida, that manages several actively managed exchange-traded funds (ETFs). It was founded by Cathie Wood in 2014. At the height of February 2021, the company had US$50 billion in assets under management. As of October 2023, assets had dropped to $6.71 billion, after a period of poor performance.

Grayscale Investments is an American digital currency asset management company and subsidiary of Digital Currency Group founded in 2013 and based in Stamford, Connecticut.

References

  1. "Why MAGA ETF? | Point Bridge Capital". Point Bridge Capital. Retrieved 8 March 2020. Point Bridge Capital, LLC serves as the investment advisor, and Vident Investment Advisory, LLC serves as the sub-advisor to the fund. The fund is distributed by Foreside Fund Services, LLC, which is not affiliated with Point Bridge Capital, LLC or Vident Investment Advisory, LLC.
  2. 1 2 3 4 Lovelace, Berkeley Jr.; Belvedere, Matthew J. (8 January 2018). "'Make America Great Again' ETF, pegged to Trump's agenda, outperforms the stock market". CNBC. Retrieved 8 March 2020.
  3. 1 2 "Point Bridge Stock Tracker as of 2/29/2020" (PDF). investpolitically.com. Retrieved 8 March 2020.
  4. Rachel Evans (17 May 2018). "The MAGA ETF Has Only One Strategy". Bloomberg.com. Archived from the original on 22 May 2018. Retrieved 8 March 2020.
  5. "Hal Lambert's schedule for FreedomFest 2018". freedomfest2018.sched.com. Retrieved 8 March 2020.
  6. "Media Appearances - Invest Politically". Invest Politically. Retrieved 8 March 2020.