Two asset managers plan to launch investment funds tied to the new “MANGOS” basket of AI-focused companies after SpaceX’s (NASDAQ:SPCX) historic IPO and the excitement surrounding artificial intelligence.
AI Investing Trend Reaches ETF Market
Yorkville America Investment Trust, which sponsors the Truth Social ETFs, and Corgi ETF Trust 1 separately filed with the Securities and Exchange Commission on Monday to launch funds built around the MANGOS theme, which includes Meta Platforms Inc (NASDAQ:META), NVIDIA Corp (NASDAQ:NVDA), Google’s parent Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL), OpenAI, Anthropic and SpaceX.
The acronym is positioned as a successor to the Magnificent Seven, grouping companies that investors view as the leading beneficiaries of the AI boom.
Different Approaches To The AI Trade
According to the filing, the Yorkville America MANGO Plus ETF will invest at least 80% of its net assets in securities linked to companies within the MANGOS universe and a broader group of AI beneficiaries that it calls the “Parabolic 7.”
The fund may also invest in companies such as Advanced Micro Devices Inc (NASDAQ:AMD), Broadcom Inc (NASDAQ:AVGO), Micron Technology Inc (NASDAQ:MU), Intel Corp (NASDAQ:INTC), Dell Technologies (NYSE:DELL), Super Micro Computer (NASDAQ:SMCI) and SanDisk Corp (NASDAQ:SNDK), which Yorkville believes stand to benefit from the continued adoption of artificial intelligence.
Yorkville also filed for a MANGO Plus Premium Equity Income ETF, which would employ an options strategy designed to generate income while maintaining exposure to the underlying AI-focused portfolio.
The Corgi MANGOS ETF will invest at least 80% of its assets in six specific MANGOS companies, rather than the broader AI beneficiaries.
Proposed Funds Could Launch This Summer
The trend comes as OpenAI and Anthropic have both taken steps toward public listings, raising expectations that investors could soon gain broader access to some of the most sought-after names in AI.
If approved, the proposed funds could begin trading as early as August under SEC timelines, giving investors another way to bet on what Wall Street believes is the next generation of AI market leaders.
Price Action: SpaceX closed 4.83% higher on Tuesday at $201.80, and gained a further 2.06% in extended trading.
Benzinga Edge Stock Rankings show SPCX stock has a positive price trend across the short, medium and long-term.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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