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.
Read Also: Cathie Wood Keeps Selling AMD: This Time Ark Dumps Another $12 Millions In Shares 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.
