Texas investment firm Point Bridge Capital will be launching a pro-GOP / Pro-Trump ETF under the symbol $MAGA, available for purchase September 7. Per the Daily Caller, the fund will “invest in stocks that are highly supportive of federal Republican candidates including President Donald Trump.”
Founder Hal Lambert, CFA is a former Director at Credit Suisse, and was a Portfolio Manager at J.P. Morgan before that. He’s currently managing over $1 billion at Point Bridge.
During the 2016 election, he was a huge fundraiser for the Republican Party, throwing his support behind Ted Cruz as his finance co-chair – though he was reluctant to get behind Trump, who he hated, until later in the campaign.
So, he may have appropriated “MAGA” despite his former(?) status as a Never-Trumper, but Hal wants to make YOU money!
Via Daily Caller:
The ETF strategy starts with stocks in the S&P 500 and analyzes the political contributions of the employees and the company PACs. The top 150 Republican stocks based on their contribution data are then included in the ETF. Lambert, a major Texas Republican fundraiser, refers to the approach as “politically responsible investing.”
Lambert told TheDC the top five Republican contributors in the past two election cycles were: AT&T, Marathon Petroleum, Home Depot, Exxon Mobil, and Altria. “All of those stocks will be in the ETF,” Lambert said.
The top five Democrat contributors were: Alphabet (Google), Time Warner, Walt Disney, Apple, and Dish Network.Comments »