Point Bridge Capital

Last updated

Point Bridge Capital is an investment company founded by Hal Lambert in 2013.

Point Bridge is known for "MAGA ETF", an exchange-traded fund on the BATS Global Markets exchange that invests in companies that are especially active in Republican circles. The fund's selection criteris uses Federal Election Commission data to select the top 150 companies. The name is a nod to Make America Great Again, the 2016 presidential campaign slogan of Donald Trump. The fund is administered by Point Bridge and distributed by Foreside Fund Services. [1] The fund launched 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 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

Fidelity Investments, commonly referred to as Fidelity, earlier as Fidelity Management & Research or FMR, is an American multinational financial services corporation based in Boston, Massachusetts. The company was established in 1946 and is one of the largest asset managers in the world with $4.5 trillion in assets under management, now as of December 2021 their assets under administration amounts to $11.8 trillion. 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 and exchange-traded product, i.e. they are traded on stock exchanges. ETFs are similar in many ways to mutual funds, except that ETFs are bought and sold from other owners throughout the day on stock exchanges whereas mutual funds are bought and sold from the issuer based on their price at day's end. An ETF holds assets such as stocks, bonds, currencies, futures contracts, and/or commodities such as gold bars, and generally operates with an arbitrage mechanism designed to keep it trading close to its net asset value, although deviations can occasionally occur. Most ETFs are index funds: that is, they hold the same securities in the same proportions as a certain stock market index or bond market index. The most popular ETFs in the U.S. replicate the S&P 500, the total market index, the NASDAQ-100 index, the price of gold, the "growth" stocks in the Russell 1000 Index, or the index of the largest technology companies. With the exception of non-transparent actively managed ETFs, in most cases, the list of stocks that each ETF owns, as well as their weightings, is posted daily on the website of the issuer. The largest ETFs have annual fees of 0.03% of the amount invested, or even lower, although specialty ETFs can have annual fees well in excess of 1% of the amount invested. These fees are paid to the ETF issuer out of dividends received from the underlying holdings or from selling assets.

Sequoia Capital is an American venture capital firm. The firm is headquartered in Menlo Park, California and specializes in seed stage, early stage, and growth stage investments in private companies across technology sectors. As of 2022, Sequoia's total assets under management were approximately US$85 billion.

Janus Capital Group, Inc. was an American publicly owned investment firm headquartered in Denver, Colorado.

<span class="mw-page-title-main">Stock Exchange of Thailand</span>

The Stock Exchange of Thailand, or SET, is the only stock exchange in Thailand. Founded on 30 April 1975, it is ASEAN’s 2nd largest and the world's 23rd by market capitalization at US$564 billion as of 9 May 2022. From 2015 to June 2020 it was the biggest IPO market in Southeast Asia in terms of accumulated raised fund at USD 17.8 billion. It is also the region’s most active bourse for 10 consecutive years with daily trading turnover normally exceeding USD 2 billion.

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 multinational investment management corporation

BlackRock, Inc. is an American multi-national investment company based in New York City. Founded in 1988, initially as a risk management and fixed income institutional asset manager, BlackRock is the world's largest asset manager, with US$10 trillion in assets under management as of January 2022. BlackRock operates globally with 70 offices in 30 countries and clients in 100 countries.

State Street Global Advisors (SSGA) is the investment management division of State Street Corporation and the world's fourth largest asset manager, with nearly $4.14 trillion (USD) in assets under management as of 31 December 2021.

Dimensional Fund Advisors, L.P. is a private investment firm headquartered in Austin, Texas. Dimensional was founded in Chicago in 1981 by David Booth, Rex Sinquefield and Larry Klotz. The company has affiliates within 13 offices in the U.S., Canada, U.K., Germany, Netherlands, Australia, Singapore, and Japan. Dimensional maintains U.S. offices in Charlotte, North Carolina and Santa Monica, California and has affiliate offices globally. The company is owned by its employees, board members and outside 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 Congress in 1980 as 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.

Peter S. Kaufman is an American investment banker and private equity investor. He is the President and Head of Restructuring and Distressed M&A at Gordian Group LLC, an investment banking firm. He is also a Managing Partner of Bacchus Capital Management, a winery investment concern.

Betterment is an American financial advisory company which provides digital investment and cash management services.

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

WisdomTree Investments, Inc. is a New York-based exchange-traded fund (ETF) and exchange-traded product (ETP) sponsor and asset manager. 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 five subsidiaries which are CoinDesk, Foundry, Genesis, Grayscale Investments, and Luno.

Wealthsimple Inc. is a Canadian online investment management service. The firm was founded in September 2014 by Michael Katchen and is based in Toronto. As of November 2021, the firm holds over C$15 billion in assets under management. It is primarily owned by Power Corporation indirectly at 70.1% through investments made through their holdings in Power Financial, IGM Financial and Portag3.

Wahed (company)

Wahed is an American financial technology and services company based in New York City, New York. In July 2019, the company launched the first exchange-traded fund in the United States that was compliant with Sharia law. Wahed operates in 130 countries and has offices in Washington D.C, New York, London and Dubai. According to CNBC, it has a valuation of $100 million.

Catherine Duddy Wood is an American investor and the founder, CEO and 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. As of February 2021, the company had $50 billion in assets under management. By May 2022, assets had dropped to $15.9 billion, after a period of poor performance.

Trump Media & Technology Group (TMTG), also known as T Media Tech LLC, is an American media and technology company founded in January 2021 by former U.S. president Donald Trump. On January 1, 2022, Republican U.S. representative Devin Nunes resigned his House seat to become the organization's CEO. In February 2022, TMTG launched a social network called Truth Social.

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 Jr., Berkeley Lovelace; Belvedere, Matthew J. "'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.