Key facts
- Two asset managers have filed for new ETFs linked to the 'MANGOS' AI stock acronym.
- The 'MANGOS' group includes Meta Platforms, Nvidia, Alphabet, SpaceX, Anthropic, and OpenAI.
- SpaceX recently completed a record $75 billion IPO.
- OpenAI and Anthropic are private companies expected to IPO later this year.
- Yorkville America's proposed 'Mango Plus ETF' will also include companies from its 'Parabolic 7' grouping.
- Corgi Securities plans an ETF focused exclusively on the six core 'MANGOS' stocks.
Wall Street is seeing new investment vehicles emerge that focus on artificial intelligence beyond the 'Magnificent 7' group. Two asset managers, Yorkville America and Corgi Securities, have filed with the U.S. Securities and Exchange Commission to launch exchange-traded funds (ETFs) tied to the 'MANGOS' acronym. This new grouping, which gained traction on social media ahead of SpaceX's recent record-breaking IPO, includes Meta Platforms, Nvidia, Alphabet, SpaceX, Anthropic, and OpenAI.
Analysts note the rapid product development in the ETF industry, with these new funds potentially being even more concentrated than the 'Magnificent 7' and heavily exposed to upcoming IPOs. Yorkville's proposed 'Mango Plus ETF' would invest in the core 'MANGOS' stocks as well as seven other companies it believes will benefit from AI adoption, which it calls the 'Parabolic 7.' Corgi Securities plans an ETF that will invest solely in the six core 'MANGOS' companies.
These new ETFs could debut by the end of August. The emergence of 'MANGOS' and other groupings like the 'FAB 10' (Frontier AI & Big Tech 10) reflects a broadening investor interest in AI leaders, including private companies like OpenAI and Anthropic which are expected to pursue IPOs with significant valuations.