An ETF that counts Dave Portnoy as an investor in the underlying index announced its April rebalance on Thursday.
What Happened: On the third Thursday of each month, the VanEck Vectors Social Sentiment ETF BUZZ rebalances its index of 75 stocks.
The ETF, which launched on March 4, holds 75 large-cap U.S. stocks which show the most positive investor sentiment using artificial intelligence to track social buzz.
Portnoy promoted the new ETF in March saying the new fund is something “that I am part of, that I am putting my face behind, my reputation behind.”
Related Link: How The Dave Portnoy-Backed Social Sentiment ETF Actually Works
The New Names: The April rebalance saw 21 new stocks and 21 stocks out, which includes several notable names.
“Ryan Cohen was vocal about transforming GME’s business model from a brick-and-mortar approach to a digital one. With its ‘meme stock’ status and epic short squeeze history behind it, online conversation now routinely reviews the fundamental prospects and the future of the company,” BUZZ Holdings Founder Jamie Wise said of the new addition GameStop Corp GME. “The April rebalance is one of the most active in recent months.”
GameStop recently hit the $5 billion market cap required to be included in the ETF.
The 21 stocks added to the BUZZ ETF are:
- GameStop Corp
- Palantir Technologies PLTR
- ViacomCBS VIAC
- Rocket Cos RKT
- Lockheed Martin Corp LMT
- United States Steel Corp X
- Intel Corp INTC
- Chewy Inc CHWY
- Unity Software U
- Crowdstrike Holdings CRWD
- Discovery Inc DISCA
- Snowflake Inc SNOW
- Visa Inc V
- Citigroup Inc C
- Macy’s Inc M
- Applied Materials Inc AMAT
- FedEx Corp FDX
- Altria Group MO
- Starbucks Corp SBUX
- RH RH
Top Holdings: The BUZZ Index counts the following as its top holdings as of Thursday morning:
Apple Inc AAPL: 3.3%
- Amazon.com Inc AMZN: 3.2%
- Square Inc SQ: 3.2%
- Tesla Inc TSLA: 3.2%
- NVIDIA Corp NVDA: 3.1%
- Boeing Co BA: 3.0%
- Advanced Micro Devices AMD: 2.9%
- Novovax Inc NVAX: 2.9%
- Walt Disney Corp DIS: 2.9%
- Facebook Inc FB: 2.6%
- ETF Performance: The VanEck Vectors Social Sentiment ETF is up 15% year-to-date. The ETF has over $350 million in assets according to ETFDB.com.
The algorithm behind the ETF beat the S&P 500 by 42% in 2020, Portnoy said. The BUZZ Index has outperformed the S&P 500 since the index launched in 2015.
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