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Global X Guru Activist Index ETF (ACTX)

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Last Post: 3/19/2021 11:05:36 PM - Followers: 1 - Board type: Free - Posts Today: 0


Activist conquests will soon be tracked by the new Global X Guru Activist Index ETF (ACTX), which aims to ride the coattails of 50 of the largest and most successful activist investors. launches on April 29.
Activist investors typically try to buy a big chunk of shares in a company so they can get enough voting power to swing company proxy votes and get seats on the board. If activists can get board seats for candidates, they often push for such things as instituting a dividend, doing share buybacks, or pursuing mergers and acquisitions and spinoffs. That can unlock value for all shareholders—and spark criticism from the likes of Warren Buffett for encouraging a short-term focus driven by investors who aren't in the stock for the long haul.
So how does an ETF track the Icahns of the investing world?
ACTX first comes up with a list of the 50 top activist investors in the U.S., based on criteria that include their size, success rate, and the frequency of their 13D filings. 13D filings are forms that must be filed with the Securities and Exchange Commission within 10 days of an investor coming to own more than 5 percent of a company.
Then the ETF pores over activist quarterly 13F filings, which list the stock holdings of money managers with more than $100 million in equity positions, as well as 13D filings. After aggregating the equity holdings into one big list, it ranks the list by the dollar amount invested by activists. The 50 largest positions go into the ETF. It repeats this every quarter.
Global X doesn’t publicly disclose the identities of the 50 investors. Judging from the holdings, Icahn and Ackman are included. Six of Icahn Enterprises’ top 10 positions are included, such as Apple and EBay. As for Bill Ackman’s Pershing Square Capital Management, more than half its holdings are in there, including Zoetis and Canadian Pacific Railway.
An important note about ACTX: Rather than weighting stocks by market capitalization, which is how 80 per cent of equity ETF assets are invested, it equal-weights a portfolio that includes some mid- and small-cap stocks. By giving an equal voice to smaller names, the ETF will have a little more zip on the way up and a bit more zip on the way down. Sometimes that will make it look as though the theme is working when—at least partially—the tilt toward smaller-cap stocks underlies the outperformance.
Finally, in a thematic ETF such as ACTX, you definitely see overlap with other popular mainstream ETFs and funds. For example, ACTX holds such widely held companies as Apple, Microsoft, and McDonalds. Apple alone is held by more than 250 ETFs and 1,800 mutual funds, including most of the biggest ones.
ACTX is the first activist ETF, but an existing mutual fund called the 13D Activist Fund (DDDAX) has had a return of 17 percent in the past year. On the downside, it's almost as expensive as an actual hedge fund, with an annual fee of 1.75 percent and an initial load of 5.75 percent. If that's not enough, the fund also charges shareholders 1 percent if they sell after a year—and 2 percent if they sell within a year. ACTX charges a flat 0.75 percent on assets annually.
In the end, ACTX is for those who like following activist investors but aren't rich enough to afford a hedge fund, are too busy to do it themselves, and are too smart to use an expensive mutual fund.
Eric Balchunas is an exchange-traded-fund analyst at Bloomberg.


Global X GuruTM Activist Index ETF ACTX Fund Inception Ticker CUSIP Stock Exchange Total Expenses Bloomberg IOPV Ticker ACTX.IV Distribution Frequency Annual Top Constituents* Industry Breakdown Index Characteristics Number of Holdings 50 Bloomberg Ticker ACTX Index *Constituents subject to change.
GLOBAL X FUNDS Innovative ETFs Fund Details Fund Description April 28, 2015 Innovative ETFs ACTX 37950Y608 NASDAQ 0.75% GLOBAL X FUNDS Index Description The Global X Guru™ Activist Index ETF seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Solactive Guru Activist Index.
The Solactive Guru Activist Index is comprised of U.S. listed equity positions reported on Form 13F and Schedule 13D by a select group of entities characterized as premier activist investors, as defined by Solactive AG, the index provider. Activist investors are selected from a universe of investors that aim to buy securities to put public pressure on management to increase shareholder value.
Once the pool of activist investors has been determined, the Index Provider utilizes Form 13F filings and Schedule 13D filings to compile the top 50 aggregate stock holdings held by the pool of activist investors, after screening for certain liquidity and market capitalization requirements.
The stocks are equal weighted and rebalanced quarterly following the Form 13F filing timeline. On a monthly basis, securities may be added to or removed from the Underlying Index as a result of Schedule 13D filings. IOPV, or Indicative Optimized Portfolio Value, is a calculation disseminated by the stock exchange that approximates the Fund's NAV every fifteen seconds throughout the trading day.
Walgreen Boots Alliance Inc., 2.2%
CBRE Group Inc., 2.2%
Anadarko Petroleum Corp., 2.2%
Halliburton Co., 2.2%
Moodys Corp., 2.2%
Platform Specialty Products Corp., 2.2%
Baker Hughes Inc., 2.2%
Williams Cos Inc., 2.2%
Bank of New York Mellon Corp., 2.1%
Valent Pharmaceuticals Inte, 2.1%
Other, 78.2% Financials, 18.2% Energy, 16.3% Information Technology, 15.1% Consumer Discretionary, 12.0% Health Care, 10.4% Materials, 10.1% Industrials, 9.8% Consumer Staples, 6.2% Telecommunication Services, 2.0%
 
Name Number of shares
ACTAVIS PLC 0.016957
ADOBE SYSTEMS INC 0.063496
AGRIUM INC 0.046309
AIR PRODUCTS & CHEMICALS INC 0.031938
AMGEN INC 0.031303
ANADARKO PETROLEUM CORP 0.058179
APPLE INC 0.037286
BAKER HUGHES INC 0.07903
BANK OF NEW YORK MELLON CORP 0.126955
CANADIAN PACIFIC RAILWAY LTD 0.026384
CBRE GROUP INC 0.142134
CHESAPEAKE ENERGY CORP 0.253083
CONSOL ENERGY INC 0.148741
CVR ENERGY INC 0.119608
DIRECTV-CLASS A 0.056902
DOW CHEMICAL 0.101109
DU PONT (E.I.) DE NEMOURS 0.064021
EBAY INC 0.085398
EMC CORP/MASS 0.17328
FAMILY DOLLAR STORES 0.06335
FEDEX CORP 0.027845
FIDELITY NATIONAL FINL-A 0.132502
FRANKLIN RESOURCES INC 0.092204
HALLIBURTON CO 0.115223
HERTZ GLOBAL HOLDINGS INC 0.215049
HESS CORP 0.065599
HOLOGIC INC 0.156338
INGERSOLL-RAND PLC 0.072565
INTERCONTINENTAL EXCHANGE INC 0.021214
JUNIPER NETWORKS INC 0.20637
LEGG MASON INC 0.084807
LEVEL 3 COMMS 0.092073
LOEWS CORP 0.117997
MCDONALDS CORP 0.053039
MCGRAW-HILL FINANCIAL INC 0.047624
MICRON TECHNOLOGY INC 0.157931
MICROSOFT CORP 0.112323
MONDELEZ INTERNATIONAL INC 0.134622
MOODYS CORP 0.051246
MOTOROLA SOLUTIONS INC 0.072636
PEPSICO INC 0.050199
PHILIPS ELECTRONICS-NY SHR 0.167535
PLATFORM SPECIALTY PRODUCTS CORP 0.199479
SCRIPPS NETWORKS INTERACTIVE 0.06696
TIME WARNER CABLE 0.033598
TWENTY-FIRST CENTURY FOX INC 0.144805
VALEANT PHARMACEUTICALS INTE 0.024951
WALGREEN BOOTS ALLIANCE INC 0.0631
WILLIAMS COS INC 0.102138
ZOETIS INC 0.108994

 
Data as of 04/29/2015
 
Ticker ACTX
Primary Exchange NASDAQ
CUSIP 37954Y608
ISIN US37954Y6086
Net Assets $1,507,936.40
Management Fee 0.75 %
Total Annual Fund Operating Expense 0.75 %
Inception Date 04/28/2015
Shares Outstanding 100,000
Distribution Frequency Annually
30-Day SEC
Yield
(as of most recent month end) 
N/A

 
ACTX
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Volume:
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PostSubject
#12   When I post ACTX Advanced Container Technology WHISKYLADY 03/19/21 11:05:36 PM
#11   How much later? Down 50% since then. 2k Theoblade 03/18/21 03:21:30 AM
#10   false press release this is going under penny and WHISKYLADY 03/05/21 06:14:16 PM
#9   Medtainer... What a joke they were. 100 to Theoblade 03/05/21 03:41:33 PM
#8   you can watch where it is heading!!?...perhaps can Pennyes 03/04/21 03:32:08 PM
#7   It won't, this is a reshuffle of an Theoblade 02/11/21 01:32:07 AM
#6   needs volume!?... when buying kick in, the upside Pennyes 02/01/21 12:18:29 PM
#4   Is this thing ever going to move? Jmarkutah 12/30/20 12:19:30 PM
#3   if you build it they will come ......????:) SLJB 08/09/15 05:28:55 PM
#2   What is Mr. Bill up to? trunkmonk 05/18/15 06:12:53 PM
#1   ACTX- Opened at 15.08, closed 15.11 first day. trunkmonk 04/29/15 08:57:08 PM
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