Point Bridge Capital
| Company type | Private company |
|---|---|
| Industry | Financial services |
| Founded | 2013 |
| Founder | Hal Lambert |
| Headquarters | , |
Key people | Hal Lambert (Founder and CEO) |
| Products | MAGA ETF, investment management advice |
| Website | www |
Point Bridge Capital is an American investment management company based in Texas that was founded by Hal Lambert in 2013. It is best known for its "MAGA ETF", an exchange-traded fund that invests in companies that are especially supportive of the United States Republican political party. The name is a nod to Make America Great Again, the 2016 presidential campaign slogan of Donald Trump. In addition Point Bridge provides investment management advice to high-net-worth individual.
The MAGA ETF fund is traded on the BATS Global Markets exchange. Its selection criteria uses Federal Election Commission data to select the top 150 US public companies that meet the political target. The fund is administered by Point Bridge and distributed by Foreside Fund Services.[1]
History
[edit]Point Bridge Capital was established by Hal Lambert in 2013.
Point Bridge capital launched the MAGA ETF on September 6, 2017 in reaction to Target Corp's inclusive bathroom policy in 2016 and Donald Trump's nomination.[2] It has a higher expense ratio of 0.72% than simple trackers and funds, which run from 0.04% to 0.08%.[3][4]
In 2018 the holdings ($39 million) were about 21% industrials, 20% finance, 17% oil and gas, and only 0.6% in tech, with top holdings in Freeport-McMoRan, Apache Corporation, Marathon Oil, TechnipFMC, and Williams Companies.[2]
By February 29, 2020, the top holdings were L Brands, Apache Corp, Rollins, Inc., NextEra Energy, and Old Dominion Freight Line.[3]
Hal Lambert was previously a director at Credit Suisse and manager at JP Morgan. Politically, Lambert is a Republican donor and finance chair, and was on the 2017 Trump inaugural committee.[2] Lambert is a frequent guest on Fox Business and has promoted the MAGA ETF at FreedomFest 2018,[5] and on CNBC,[2] Hugh Hewitt, Mike Gallagher, Fox News, Fox Business, One America News Network, i24 News, and Yahoo! Finance.[6]
References
[edit]- ^ "Why MAGA ETF? | Point Bridge Capital". Point Bridge Capital. Retrieved 8 March 2020.
Point Bridge Capital, LLC serves as the investment advisor, and Vident Investment Advisory, LLC serves as the sub-advisor to the fund. The fund is distributed by Foreside Fund Services, LLC, which is not affiliated with Point Bridge Capital, LLC or Vident Investment Advisory, LLC.
- ^ a b c d Lovelace, Berkeley Jr.; Belvedere, Matthew J. (8 January 2018). "'Make America Great Again' ETF, pegged to Trump's agenda, outperforms the stock market". CNBC. Retrieved 8 March 2020.
- ^ a b "Point Bridge Stock Tracker as of 2/29/2020" (PDF). investpolitically.com. Retrieved 8 March 2020.
- ^ Rachel Evans (17 May 2018). "The MAGA ETF Has Only One Strategy". Bloomberg.com. Archived from the original on 22 May 2018. Retrieved 8 March 2020.
- ^ "Hal Lambert's schedule for FreedomFest 2018". freedomfest2018.sched.com. Retrieved 8 March 2020.
- ^ "Media Appearances - Invest Politically". Invest Politically. Retrieved 8 March 2020.