Why Cathie Wood’s Space ETF Has Some Unexpected Holdings_老虎社区_美港股上老虎

Why Cathie Wood’s Space ETF Has Some Unexpected Holdings

Barron's2021-03-31

The ARK Space Exploration & Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some...

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JJQ
·2021-04-01
For like and comment!
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buckethead
·2021-04-01
PizzaHut for pizza delivery 🍕 to aliens 👽
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1
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jeff123
·2021-03-31
Advance futuristic planning
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2
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Ironteam
·2021-03-31
I find it odd too, but I guess they are good to hedge against the more volatile stocks that has huge growth potential.
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JLYJ
·2021-03-31
It's a creative ETF
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Humble_Teoh
·2021-03-31
Great... but i have no spare bullet to follow
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2
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- buckethead:
  you're not alone
  2021-03-31
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Millionairek
·2021-03-31
Netflix
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NicNic
·2021-03-31
[开心]
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2
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- NicNic:
  [微笑]
  2021-03-31
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pakthedude
·2021-03-31
Just like other ETF, there's some innovative stocks including some FANG (Amazon, Netflix and Google) and good EPS stocks to bring up the projection forward. Stocks related to Spacecraft, exploration, surveillance, research and defense R&D may take some time to pick up. New start up company needs to be mature enough and could be shuffled in a later time. ARK Invest have great foresight. Trust in ARK Invest!
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- JustStonks:
  Agree. Investors that buy ETF or in this case, Ark Space ETF, are investing for the long term. 20years down the road, this could literally bring us to the MOON! Stocks price + me in the rocket.
  2021-03-31
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- TraderJac:
  Agreed
  2021-03-31
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DesmondChin
·2021-03-31
Another way to gain fees....
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2
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MFME
·2021-03-31
ARK buy EHANG...
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3
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- JustStonks:
  Havent buy right? I think is speculation. But hopefully they buy EH!
  2021-03-31
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Yuyu37
·2021-03-31
Like
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4
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HyperCat
·2021-03-31
What is going on? Space ETF?
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Mkoh
·2021-03-31
Another way for her to collect 75 basis point of fees
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Jewoo
·2021-03-31
To infinity and beyond
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一心只想投资赚点生活费
·2021-03-31
That explained! @Ahwooo
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- Ahwooo:
  lets rocket on bro @Williamchooi [财迷] [财迷] [财迷] [财迷]
  2021-03-31
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- Ahwooo:
  $ARK Space Exploration & Innovation ETF(ARKX)$ [看涨] [看涨]
  2021-03-31
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HENG
·2021-03-31
Why ah unrelated... hmmm
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HENG
·2021-03-31
Ya why ah unrelated... hmmm
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mcwood
·2021-03-31
[得意]
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DevilBee
·2021-03-31
For like and comment
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1
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- Yuyu37:
  Okk
  2021-03-31
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- DevilBee:
  comment n lkt
  2021-03-31
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- 88huat:
  Pls comment on mine too :)
  2021-03-31
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But investors found some...</p>\n\n<a href=\"https://www.barrons.com/articles/the-ark-space-etf-has-some-unexpected-holdings-51617150050?mod=hp_LEAD_1\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":null,"symbol_name":null,"start_time":0,"source_url":"https://www.barrons.com/articles/the-ark-space-etf-has-some-unexpected-holdings-51617150050?mod=hp_LEAD_1","article_id":"1126047060","we_media_id":null,"thumbnails":["https://static.tigerbbs.com/55e4b11e868aab2bd1399f8a1e0cd685"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1126047060","pubTimestamp":1617185695,"columns":[],"sourceInfo":{"source_id":"lsy1610680873436","name":"Barron's"},"weMediaInfo":null,"summary":"The ARK Space Exploration & Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some surprises in the fund’s portfolio: Some popular firms in space-exploration related fields were not included, while other seemingly unrelated names–including half a dozen internet tech giants–make up a significant weight.That is because ARK’s space fund  isn’t limited to companies directly involved ","collect":0,"end_time":0,"defaultTopTitle":"barrons.com","property":[],"viewcount":null,"language":"en","relate_stocks":{},"translate_title":"Cathie Wood的太空ETF为什么会有一些出人意料的持有量","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{},"content_text":"The ARK Space Exploration & Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some surprises in the fund’s portfolio: Some popular firms in space-exploration related fields were not included, while other seemingly unrelated names–including half a dozen internet tech giants–make up a significant weight.That is because ARK’s space fund (ticker: ARKX) isn’t limited to companies directly involved in the space business, but also other innovations that have indirectly enabled the space boom. The ETF owns Google parent Alphabet (ticker: GOOG), for example, because it’s a leader in artificial intelligence. NVIDIA (NVDA), another holding, manufactures computer chips that allow rockets to operate efficiently.The fund’s second-largest position is another ARK product, the $548 million ARK 3D Printing ETF (PRNT). That’s because many rocket parts are 3D printed for reasons related to cost, weight, and durability, says Ren Leggi, client portfolio manager at ARK. To be sure, the 0.66% management fee of the ARK 3D Printing ETF is fully rebated back to ARKX investors. “We are not double dipping,” says Leggi, “You are not paying double-layer fees.”The fund also holds companies that are well-positioned to benefit from the development in aerospace-related tech. E-commerce giants like Amazon.com (AMZN) and Alibaba (BABA) are included because they can save delivery costs and generate revenue from drones if that market matures and scales. Netflix (NFLX), another holding, could potentially unlock millions of new users as satellite broadband connects more people to the internet. “There are three billion people who do not have access to internet,” says Leggi. “Satellite connectivity opens up the market. It really is about anything above ground.”Still, there is one glaring omission in the fund: It doesn’t hold any of the new pure-play space companies set to go public via mergers with special purpose acquisition companies, or SPACs.Those options would include Rocket Lab USA and Astra, two launch service companies that are currently sending commercial payloads into low Earth orbit. The pair is merging with Vector Acquisition (VACQ) and Holicity (HOL), respectively. BlackSky and Spire Global, two earth imaging businesses, are merging with Osprey Technology Acquisition (SFWT) and NavSight (NSH), respectively.Others include AST & Science, which is merging with New Providence Acquisition (NPA). That company is putting up hundreds of satellites to provide mobile phone infrastructure. Momentus, along with Redwire, offer the infrastructure services supporting new commercial space players. Those two are merging with Stable Road Acquisition (SRAC) and Genesis Park Acquisition (GNPK), respectively.The market capitalization of those seven companies is roughly $16 billion based on the number of shares outstanding for each after their SPAC mergers close. But none of those names are included in the ARK Space fund’s portfolio—at least not yet.ARK is open to investing in SPACs if the merger target has already been identified, says Leggi, but they need to review more financial data than is typically provided in SPAC merger presentations.High valuations have also caused ARK to wait on some names. “They fit our theme but from a valuation point, they don’t meet our hurdle rate for the next five years,” says Leggi, noting that the fund looks for companies that can provide investors with 15% annualized returns. “We will be patient and continue to track them. If we get an opportunity, we will leg into it. A lot of them are very interesting,” he adds.ARK isn’t the only one hesitant to jump into space SPACs. The space fund’s rival, the $129 million Procure Space ETF (UFO), also doesn’t own any SPACs. Unlike the actively managed ARK ETF, the Procure fund tracks an underlying index with predetermined rules that prohibit investments in SPACs before the merger is complete.“There is a tremendous risk to any SPAC,” Andrew Chanin, CEO of Procure ETFs, tells Barron’s. “That a target is announced and the deal doesn’t go through for a multitude of reasons. Then you are looking at a company that doesn’t have any space exposure other than a proposed target.”The Procure ETF has added newly public stocks to its holdings shortly after the SPAC merger was completed, such as space tourism pioneer Virgin Galactic (SPCE).The Procure ETF claims to be a “purer” play. More than 80% of its portfolio–per index mandate–has to be invested in companies whose majority revenues are derived from space-related businesses and activities. The remaining 20% are in diversified aerospace defense names such as Boeing (BA) and Lockheed Martin (LMT), which also generate a significant amount of revenue–albeit not the majority–from their space-related units.“Anyone can argue that almost every publicly traded company has some exposure to space, or space plays a role in that company’s ability to succeed,” says Chanin. “For us, it’s not about making nuanced arguments about how maybe a company could potentially benefit from space.”Differing ExposuresPercentage of portfolio in selected industries.Despite their differences, both funds share the same top holding, Trimble (TRMB), with an 8.6% weight in the ARK fund and a 5.2% weight in the Procure fund. The company is tapping into multiple space-related areas, offering software, data, and sensors for drones, as well as fleet management services for space construction and logistics.Procure’s space fund was launched in April 2019. It dipped 2% in 2020, while the S&P 500 returned 18.4%. Year to date, the Procure fund has gained 11.1%, beating the broader index by five percentage points.The ARK space fund finished its first trading day on Tuesday down 1%. The S&P 500 fell less than 1%.And although neither funds have exposure to space SPACs, investors can still own a piece of them by buying shares of their SPACs. Barron’s recently wrote positively about Rocket Labs, believing it’s the best option for growth investors looking for new space exposure. The company is already carrying payloads into space and has the ability to build and manage satellites.","kind":"news","is_publish_news":false,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":357301382,"gmtCreate":1617236154546,"gmtModify":1634521921623,"author":{"id":"3571627110799155","authorId":"3571627110799155","name":"JJQ","avatar":"https://static.tigerbbs.com/a1583dfc728890d33cf4ad0811d5ce30","vip":1,"crmLevel":8,"crmLevelSwitch":0,"idStr":"3571627110799155","authorIdStr":"3571627110799155"},"htmlText":"For like and comment!&nbsp;","listText":"For like and comment!&nbsp;","text":"For like and comment!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/357301382","repostId":1126047060,"repostType":4,"repost":{"id":"1126047060","kind":"news","pubTimestamp":1617185695,"share":"https://www.laohu8.com/m/news/1126047060?lang=&edition=full","pubTime":"2021-03-31 18:14","market":"us","language":"en","title":"Why Cathie Wood’s Space ETF Has Some Unexpected Holdings","url":"https://stock-news.laohu8.com/highlight/detail?id=1126047060","media":"Barron's","summary":"The ARK Space Exploration & Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some surprises in the fund’s portfolio: Some popular firms in space-exploration related fields were not included, while other seemingly unrelated names–including half a dozen internet tech giants–make up a significant weight.That is because ARK’s space fund  isn’t limited to companies directly involved ","content":"<p>The ARK Space Exploration &amp; Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some surprises in the fund’s portfolio: Some popular firms in space-exploration related fields were not included, while other seemingly unrelated names–including half a dozen internet tech giants–make up a significant weight.</p><p>That is because ARK’s space fund (ticker: ARKX) isn’t limited to companies directly involved in the space business, but also other innovations that have indirectly enabled the space boom. The ETF owns Google parent Alphabet (ticker: GOOG), for example, because it’s a leader in artificial intelligence. NVIDIA (NVDA), another holding, manufactures computer chips that allow rockets to operate efficiently.</p><p>The fund’s second-largest position is another ARK product, the $548 million ARK 3D Printing ETF (PRNT). That’s because many rocket parts are 3D printed for reasons related to cost, weight, and durability, says Ren Leggi, client portfolio manager at ARK. To be sure, the 0.66% management fee of the ARK 3D Printing ETF is fully rebated back to ARKX investors. “We are not double dipping,” says Leggi, “You are not paying double-layer fees.”</p><p>The fund also holds companies that are well-positioned to benefit from the development in aerospace-related tech. E-commerce giants like Amazon.com (AMZN) and Alibaba (BABA) are included because they can save delivery costs and generate revenue from drones if that market matures and scales. Netflix (NFLX), another holding, could potentially unlock millions of new users as satellite broadband connects more people to the internet. “There are three billion people who do not have access to internet,” says Leggi. “Satellite connectivity opens up the market. It really is about anything above ground.”</p><p>Still, there is one glaring omission in the fund: It doesn’t hold any of the new pure-play space companies set to go public via mergers with special purpose acquisition companies, or SPACs.</p><p>Those options would include Rocket Lab USA and Astra, two launch service companies that are currently sending commercial payloads into low Earth orbit. The pair is merging with Vector Acquisition (VACQ) and Holicity (HOL), respectively. BlackSky and Spire Global, two earth imaging businesses, are merging with Osprey Technology Acquisition (SFWT) and NavSight (NSH), respectively.</p><p>Others include AST &amp; Science, which is merging with New Providence Acquisition (NPA). That company is putting up hundreds of satellites to provide mobile phone infrastructure. Momentus, along with Redwire, offer the infrastructure services supporting new commercial space players. Those two are merging with Stable Road Acquisition (SRAC) and Genesis Park Acquisition (GNPK), respectively.</p><p>The market capitalization of those seven companies is roughly $16 billion based on the number of shares outstanding for each after their SPAC mergers close. But none of those names are included in the ARK Space fund’s portfolio—at least not yet.</p><p>ARK is open to investing in SPACs if the merger target has already been identified, says Leggi, but they need to review more financial data than is typically provided in SPAC merger presentations.</p><p>High valuations have also caused ARK to wait on some names. “They fit our theme but from a valuation point, they don’t meet our hurdle rate for the next five years,” says Leggi, noting that the fund looks for companies that can provide investors with 15% annualized returns. “We will be patient and continue to track them. If we get an opportunity, we will leg into it. A lot of them are very interesting,” he adds.</p><p>ARK isn’t the only one hesitant to jump into space SPACs. The space fund’s rival, the $129 million Procure Space ETF (UFO), also doesn’t own any SPACs. Unlike the actively managed ARK ETF, the Procure fund tracks an underlying index with predetermined rules that prohibit investments in SPACs before the merger is complete.</p><p>“There is a tremendous risk to any SPAC,” Andrew Chanin, CEO of Procure ETFs, tells Barron’s. “That a target is announced and the deal doesn’t go through for a multitude of reasons. Then you are looking at a company that doesn’t have any space exposure other than a proposed target.”</p><p>The Procure ETF has added newly public stocks to its holdings shortly after the SPAC merger was completed, such as space tourism pioneer Virgin Galactic (SPCE).</p><p>The Procure ETF claims to be a “purer” play. More than 80% of its portfolio–per index mandate–has to be invested in companies whose majority revenues are derived from space-related businesses and activities. The remaining 20% are in diversified aerospace defense names such as Boeing (BA) and Lockheed Martin (LMT), which also generate a significant amount of revenue–albeit not the majority–from their space-related units.</p><p>“Anyone can argue that almost every publicly traded company has some exposure to space, or space plays a role in that company’s ability to succeed,” says Chanin. “For us, it’s not about making nuanced arguments about how maybe a company could potentially benefit from space.”</p><p><b>Differing Exposures</b></p><p>Percentage of portfolio in selected industries.</p><p><img src=\"https://static.tigerbbs.com/7610169c4e1c63baad57b034b647f2ef\" tg-width=\"1242\" tg-height=\"975\" referrerpolicy=\"no-referrer\">Despite their differences, both funds share the same top holding, Trimble (TRMB), with an 8.6% weight in the ARK fund and a 5.2% weight in the Procure fund. The company is tapping into multiple space-related areas, offering software, data, and sensors for drones, as well as fleet management services for space construction and logistics.</p><p>Procure’s space fund was launched in April 2019. It dipped 2% in 2020, while the S&amp;P 500 returned 18.4%. Year to date, the Procure fund has gained 11.1%, beating the broader index by five percentage points.</p><p>The ARK space fund finished its first trading day on Tuesday down 1%. The S&amp;P 500 fell less than 1%.</p><p>And although neither funds have exposure to space SPACs, investors can still own a piece of them by buying shares of their SPACs. Barron’s recently wrote positively about Rocket Labs, believing it’s the best option for growth investors looking for new space exposure. The company is already carrying payloads into space and has the ability to build and manage satellites.</p>","source":"lsy1610680873436","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Cathie Wood’s Space ETF Has Some Unexpected Holdings</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Cathie Wood’s Space ETF Has Some Unexpected Holdings\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-31 18:14 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/the-ark-space-etf-has-some-unexpected-holdings-51617150050?mod=hp_LEAD_1><strong>Barron's</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The ARK Space Exploration & Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some...</p>\n\n<a href=\"https://www.barrons.com/articles/the-ark-space-etf-has-some-unexpected-holdings-51617150050?mod=hp_LEAD_1\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/55e4b11e868aab2bd1399f8a1e0cd685","relate_stocks":{},"source_url":"https://www.barrons.com/articles/the-ark-space-etf-has-some-unexpected-holdings-51617150050?mod=hp_LEAD_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1126047060","content_text":"The ARK Space Exploration & Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some surprises in the fund’s portfolio: Some popular firms in space-exploration related fields were not included, while other seemingly unrelated names–including half a dozen internet tech giants–make up a significant weight.That is because ARK’s space fund (ticker: ARKX) isn’t limited to companies directly involved in the space business, but also other innovations that have indirectly enabled the space boom. The ETF owns Google parent Alphabet (ticker: GOOG), for example, because it’s a leader in artificial intelligence. NVIDIA (NVDA), another holding, manufactures computer chips that allow rockets to operate efficiently.The fund’s second-largest position is another ARK product, the $548 million ARK 3D Printing ETF (PRNT). That’s because many rocket parts are 3D printed for reasons related to cost, weight, and durability, says Ren Leggi, client portfolio manager at ARK. To be sure, the 0.66% management fee of the ARK 3D Printing ETF is fully rebated back to ARKX investors. “We are not double dipping,” says Leggi, “You are not paying double-layer fees.”The fund also holds companies that are well-positioned to benefit from the development in aerospace-related tech. E-commerce giants like Amazon.com (AMZN) and Alibaba (BABA) are included because they can save delivery costs and generate revenue from drones if that market matures and scales. Netflix (NFLX), another holding, could potentially unlock millions of new users as satellite broadband connects more people to the internet. “There are three billion people who do not have access to internet,” says Leggi. “Satellite connectivity opens up the market. It really is about anything above ground.”Still, there is one glaring omission in the fund: It doesn’t hold any of the new pure-play space companies set to go public via mergers with special purpose acquisition companies, or SPACs.Those options would include Rocket Lab USA and Astra, two launch service companies that are currently sending commercial payloads into low Earth orbit. The pair is merging with Vector Acquisition (VACQ) and Holicity (HOL), respectively. BlackSky and Spire Global, two earth imaging businesses, are merging with Osprey Technology Acquisition (SFWT) and NavSight (NSH), respectively.Others include AST & Science, which is merging with New Providence Acquisition (NPA). That company is putting up hundreds of satellites to provide mobile phone infrastructure. Momentus, along with Redwire, offer the infrastructure services supporting new commercial space players. Those two are merging with Stable Road Acquisition (SRAC) and Genesis Park Acquisition (GNPK), respectively.The market capitalization of those seven companies is roughly $16 billion based on the number of shares outstanding for each after their SPAC mergers close. But none of those names are included in the ARK Space fund’s portfolio—at least not yet.ARK is open to investing in SPACs if the merger target has already been identified, says Leggi, but they need to review more financial data than is typically provided in SPAC merger presentations.High valuations have also caused ARK to wait on some names. “They fit our theme but from a valuation point, they don’t meet our hurdle rate for the next five years,” says Leggi, noting that the fund looks for companies that can provide investors with 15% annualized returns. “We will be patient and continue to track them. If we get an opportunity, we will leg into it. A lot of them are very interesting,” he adds.ARK isn’t the only one hesitant to jump into space SPACs. The space fund’s rival, the $129 million Procure Space ETF (UFO), also doesn’t own any SPACs. Unlike the actively managed ARK ETF, the Procure fund tracks an underlying index with predetermined rules that prohibit investments in SPACs before the merger is complete.“There is a tremendous risk to any SPAC,” Andrew Chanin, CEO of Procure ETFs, tells Barron’s. “That a target is announced and the deal doesn’t go through for a multitude of reasons. Then you are looking at a company that doesn’t have any space exposure other than a proposed target.”The Procure ETF has added newly public stocks to its holdings shortly after the SPAC merger was completed, such as space tourism pioneer Virgin Galactic (SPCE).The Procure ETF claims to be a “purer” play. More than 80% of its portfolio–per index mandate–has to be invested in companies whose majority revenues are derived from space-related businesses and activities. The remaining 20% are in diversified aerospace defense names such as Boeing (BA) and Lockheed Martin (LMT), which also generate a significant amount of revenue–albeit not the majority–from their space-related units.“Anyone can argue that almost every publicly traded company has some exposure to space, or space plays a role in that company’s ability to succeed,” says Chanin. “For us, it’s not about making nuanced arguments about how maybe a company could potentially benefit from space.”Differing ExposuresPercentage of portfolio in selected industries.Despite their differences, both funds share the same top holding, Trimble (TRMB), with an 8.6% weight in the ARK fund and a 5.2% weight in the Procure fund. The company is tapping into multiple space-related areas, offering software, data, and sensors for drones, as well as fleet management services for space construction and logistics.Procure’s space fund was launched in April 2019. It dipped 2% in 2020, while the S&P 500 returned 18.4%. Year to date, the Procure fund has gained 11.1%, beating the broader index by five percentage points.The ARK space fund finished its first trading day on Tuesday down 1%. The S&P 500 fell less than 1%.And although neither funds have exposure to space SPACs, investors can still own a piece of them by buying shares of their SPACs. Barron’s recently wrote positively about Rocket Labs, believing it’s the best option for growth investors looking for new space exposure. The company is already carrying payloads into space and has the ability to build and manage satellites.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":357999119,"gmtCreate":1617228005131,"gmtModify":1634521994128,"author":{"id":"3573341177962944","authorId":"3573341177962944","name":"buckethead","avatar":"https://static.tigerbbs.com/fb0baba9e10b75fa4dc0ff143e54bbea","vip":1,"crmLevel":7,"crmLevelSwitch":0,"idStr":"3573341177962944","authorIdStr":"3573341177962944"},"htmlText":"PizzaHut for pizza&nbsp;delivery 🍕 to aliens&nbsp; 👽&nbsp;&nbsp;&nbsp;","listText":"PizzaHut for pizza&nbsp;delivery 🍕 to aliens&nbsp; 👽&nbsp;&nbsp;&nbsp;","text":"PizzaHut for pizza delivery 🍕 to aliens 👽","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/357999119","repostId":1126047060,"repostType":4,"repost":{"id":"1126047060","kind":"news","pubTimestamp":1617185695,"share":"https://www.laohu8.com/m/news/1126047060?lang=&edition=full","pubTime":"2021-03-31 18:14","market":"us","language":"en","title":"Why Cathie Wood’s Space ETF Has Some Unexpected Holdings","url":"https://stock-news.laohu8.com/highlight/detail?id=1126047060","media":"Barron's","summary":"The ARK Space Exploration & Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some surprises in the fund’s portfolio: Some popular firms in space-exploration related fields were not included, while other seemingly unrelated names–including half a dozen internet tech giants–make up a significant weight.That is because ARK’s space fund  isn’t limited to companies directly involved ","content":"<p>The ARK Space Exploration &amp; Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some surprises in the fund’s portfolio: Some popular firms in space-exploration related fields were not included, while other seemingly unrelated names–including half a dozen internet tech giants–make up a significant weight.</p><p>That is because ARK’s space fund (ticker: ARKX) isn’t limited to companies directly involved in the space business, but also other innovations that have indirectly enabled the space boom. The ETF owns Google parent Alphabet (ticker: GOOG), for example, because it’s a leader in artificial intelligence. NVIDIA (NVDA), another holding, manufactures computer chips that allow rockets to operate efficiently.</p><p>The fund’s second-largest position is another ARK product, the $548 million ARK 3D Printing ETF (PRNT). That’s because many rocket parts are 3D printed for reasons related to cost, weight, and durability, says Ren Leggi, client portfolio manager at ARK. To be sure, the 0.66% management fee of the ARK 3D Printing ETF is fully rebated back to ARKX investors. “We are not double dipping,” says Leggi, “You are not paying double-layer fees.”</p><p>The fund also holds companies that are well-positioned to benefit from the development in aerospace-related tech. E-commerce giants like Amazon.com (AMZN) and Alibaba (BABA) are included because they can save delivery costs and generate revenue from drones if that market matures and scales. Netflix (NFLX), another holding, could potentially unlock millions of new users as satellite broadband connects more people to the internet. “There are three billion people who do not have access to internet,” says Leggi. “Satellite connectivity opens up the market. It really is about anything above ground.”</p><p>Still, there is one glaring omission in the fund: It doesn’t hold any of the new pure-play space companies set to go public via mergers with special purpose acquisition companies, or SPACs.</p><p>Those options would include Rocket Lab USA and Astra, two launch service companies that are currently sending commercial payloads into low Earth orbit. The pair is merging with Vector Acquisition (VACQ) and Holicity (HOL), respectively. BlackSky and Spire Global, two earth imaging businesses, are merging with Osprey Technology Acquisition (SFWT) and NavSight (NSH), respectively.</p><p>Others include AST &amp; Science, which is merging with New Providence Acquisition (NPA). That company is putting up hundreds of satellites to provide mobile phone infrastructure. Momentus, along with Redwire, offer the infrastructure services supporting new commercial space players. Those two are merging with Stable Road Acquisition (SRAC) and Genesis Park Acquisition (GNPK), respectively.</p><p>The market capitalization of those seven companies is roughly $16 billion based on the number of shares outstanding for each after their SPAC mergers close. But none of those names are included in the ARK Space fund’s portfolio—at least not yet.</p><p>ARK is open to investing in SPACs if the merger target has already been identified, says Leggi, but they need to review more financial data than is typically provided in SPAC merger presentations.</p><p>High valuations have also caused ARK to wait on some names. “They fit our theme but from a valuation point, they don’t meet our hurdle rate for the next five years,” says Leggi, noting that the fund looks for companies that can provide investors with 15% annualized returns. “We will be patient and continue to track them. If we get an opportunity, we will leg into it. A lot of them are very interesting,” he adds.</p><p>ARK isn’t the only one hesitant to jump into space SPACs. The space fund’s rival, the $129 million Procure Space ETF (UFO), also doesn’t own any SPACs. Unlike the actively managed ARK ETF, the Procure fund tracks an underlying index with predetermined rules that prohibit investments in SPACs before the merger is complete.</p><p>“There is a tremendous risk to any SPAC,” Andrew Chanin, CEO of Procure ETFs, tells Barron’s. “That a target is announced and the deal doesn’t go through for a multitude of reasons. Then you are looking at a company that doesn’t have any space exposure other than a proposed target.”</p><p>The Procure ETF has added newly public stocks to its holdings shortly after the SPAC merger was completed, such as space tourism pioneer Virgin Galactic (SPCE).</p><p>The Procure ETF claims to be a “purer” play. More than 80% of its portfolio–per index mandate–has to be invested in companies whose majority revenues are derived from space-related businesses and activities. The remaining 20% are in diversified aerospace defense names such as Boeing (BA) and Lockheed Martin (LMT), which also generate a significant amount of revenue–albeit not the majority–from their space-related units.</p><p>“Anyone can argue that almost every publicly traded company has some exposure to space, or space plays a role in that company’s ability to succeed,” says Chanin. “For us, it’s not about making nuanced arguments about how maybe a company could potentially benefit from space.”</p><p><b>Differing Exposures</b></p><p>Percentage of portfolio in selected industries.</p><p><img src=\"https://static.tigerbbs.com/7610169c4e1c63baad57b034b647f2ef\" tg-width=\"1242\" tg-height=\"975\" referrerpolicy=\"no-referrer\">Despite their differences, both funds share the same top holding, Trimble (TRMB), with an 8.6% weight in the ARK fund and a 5.2% weight in the Procure fund. The company is tapping into multiple space-related areas, offering software, data, and sensors for drones, as well as fleet management services for space construction and logistics.</p><p>Procure’s space fund was launched in April 2019. It dipped 2% in 2020, while the S&amp;P 500 returned 18.4%. Year to date, the Procure fund has gained 11.1%, beating the broader index by five percentage points.</p><p>The ARK space fund finished its first trading day on Tuesday down 1%. The S&amp;P 500 fell less than 1%.</p><p>And although neither funds have exposure to space SPACs, investors can still own a piece of them by buying shares of their SPACs. Barron’s recently wrote positively about Rocket Labs, believing it’s the best option for growth investors looking for new space exposure. The company is already carrying payloads into space and has the ability to build and manage satellites.</p>","source":"lsy1610680873436","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Cathie Wood’s Space ETF Has Some Unexpected Holdings</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Cathie Wood’s Space ETF Has Some Unexpected Holdings\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-31 18:14 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/the-ark-space-etf-has-some-unexpected-holdings-51617150050?mod=hp_LEAD_1><strong>Barron's</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The ARK Space Exploration & Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some...</p>\n\n<a href=\"https://www.barrons.com/articles/the-ark-space-etf-has-some-unexpected-holdings-51617150050?mod=hp_LEAD_1\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/55e4b11e868aab2bd1399f8a1e0cd685","relate_stocks":{},"source_url":"https://www.barrons.com/articles/the-ark-space-etf-has-some-unexpected-holdings-51617150050?mod=hp_LEAD_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1126047060","content_text":"The ARK Space Exploration & Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some surprises in the fund’s portfolio: Some popular firms in space-exploration related fields were not included, while other seemingly unrelated names–including half a dozen internet tech giants–make up a significant weight.That is because ARK’s space fund (ticker: ARKX) isn’t limited to companies directly involved in the space business, but also other innovations that have indirectly enabled the space boom. The ETF owns Google parent Alphabet (ticker: GOOG), for example, because it’s a leader in artificial intelligence. NVIDIA (NVDA), another holding, manufactures computer chips that allow rockets to operate efficiently.The fund’s second-largest position is another ARK product, the $548 million ARK 3D Printing ETF (PRNT). That’s because many rocket parts are 3D printed for reasons related to cost, weight, and durability, says Ren Leggi, client portfolio manager at ARK. To be sure, the 0.66% management fee of the ARK 3D Printing ETF is fully rebated back to ARKX investors. “We are not double dipping,” says Leggi, “You are not paying double-layer fees.”The fund also holds companies that are well-positioned to benefit from the development in aerospace-related tech. E-commerce giants like Amazon.com (AMZN) and Alibaba (BABA) are included because they can save delivery costs and generate revenue from drones if that market matures and scales. Netflix (NFLX), another holding, could potentially unlock millions of new users as satellite broadband connects more people to the internet. “There are three billion people who do not have access to internet,” says Leggi. “Satellite connectivity opens up the market. It really is about anything above ground.”Still, there is one glaring omission in the fund: It doesn’t hold any of the new pure-play space companies set to go public via mergers with special purpose acquisition companies, or SPACs.Those options would include Rocket Lab USA and Astra, two launch service companies that are currently sending commercial payloads into low Earth orbit. The pair is merging with Vector Acquisition (VACQ) and Holicity (HOL), respectively. BlackSky and Spire Global, two earth imaging businesses, are merging with Osprey Technology Acquisition (SFWT) and NavSight (NSH), respectively.Others include AST & Science, which is merging with New Providence Acquisition (NPA). That company is putting up hundreds of satellites to provide mobile phone infrastructure. Momentus, along with Redwire, offer the infrastructure services supporting new commercial space players. Those two are merging with Stable Road Acquisition (SRAC) and Genesis Park Acquisition (GNPK), respectively.The market capitalization of those seven companies is roughly $16 billion based on the number of shares outstanding for each after their SPAC mergers close. But none of those names are included in the ARK Space fund’s portfolio—at least not yet.ARK is open to investing in SPACs if the merger target has already been identified, says Leggi, but they need to review more financial data than is typically provided in SPAC merger presentations.High valuations have also caused ARK to wait on some names. “They fit our theme but from a valuation point, they don’t meet our hurdle rate for the next five years,” says Leggi, noting that the fund looks for companies that can provide investors with 15% annualized returns. “We will be patient and continue to track them. If we get an opportunity, we will leg into it. A lot of them are very interesting,” he adds.ARK isn’t the only one hesitant to jump into space SPACs. The space fund’s rival, the $129 million Procure Space ETF (UFO), also doesn’t own any SPACs. Unlike the actively managed ARK ETF, the Procure fund tracks an underlying index with predetermined rules that prohibit investments in SPACs before the merger is complete.“There is a tremendous risk to any SPAC,” Andrew Chanin, CEO of Procure ETFs, tells Barron’s. “That a target is announced and the deal doesn’t go through for a multitude of reasons. Then you are looking at a company that doesn’t have any space exposure other than a proposed target.”The Procure ETF has added newly public stocks to its holdings shortly after the SPAC merger was completed, such as space tourism pioneer Virgin Galactic (SPCE).The Procure ETF claims to be a “purer” play. More than 80% of its portfolio–per index mandate–has to be invested in companies whose majority revenues are derived from space-related businesses and activities. The remaining 20% are in diversified aerospace defense names such as Boeing (BA) and Lockheed Martin (LMT), which also generate a significant amount of revenue–albeit not the majority–from their space-related units.“Anyone can argue that almost every publicly traded company has some exposure to space, or space plays a role in that company’s ability to succeed,” says Chanin. “For us, it’s not about making nuanced arguments about how maybe a company could potentially benefit from space.”Differing ExposuresPercentage of portfolio in selected industries.Despite their differences, both funds share the same top holding, Trimble (TRMB), with an 8.6% weight in the ARK fund and a 5.2% weight in the Procure fund. The company is tapping into multiple space-related areas, offering software, data, and sensors for drones, as well as fleet management services for space construction and logistics.Procure’s space fund was launched in April 2019. It dipped 2% in 2020, while the S&P 500 returned 18.4%. Year to date, the Procure fund has gained 11.1%, beating the broader index by five percentage points.The ARK space fund finished its first trading day on Tuesday down 1%. The S&P 500 fell less than 1%.And although neither funds have exposure to space SPACs, investors can still own a piece of them by buying shares of their SPACs. Barron’s recently wrote positively about Rocket Labs, believing it’s the best option for growth investors looking for new space exposure. The company is already carrying payloads into space and has the ability to build and manage satellites.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":354470981,"gmtCreate":1617199005543,"gmtModify":1634522113383,"author":{"id":"3578111079453218","authorId":"3578111079453218","name":"jeff123","avatar":"https://static.tigerbbs.com/d2c71145c4a9a4565a59fc5476086738","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"3578111079453218","authorIdStr":"3578111079453218"},"htmlText":"Advance futuristic planning","listText":"Advance futuristic planning","text":"Advance futuristic planning","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/354470981","repostId":1126047060,"repostType":4,"repost":{"id":"1126047060","kind":"news","pubTimestamp":1617185695,"share":"https://www.laohu8.com/m/news/1126047060?lang=&edition=full","pubTime":"2021-03-31 18:14","market":"us","language":"en","title":"Why Cathie Wood’s Space ETF Has Some Unexpected Holdings","url":"https://stock-news.laohu8.com/highlight/detail?id=1126047060","media":"Barron's","summary":"The ARK Space Exploration & Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some surprises in the fund’s portfolio: Some popular firms in space-exploration related fields were not included, while other seemingly unrelated names–including half a dozen internet tech giants–make up a significant weight.That is because ARK’s space fund  isn’t limited to companies directly involved ","content":"<p>The ARK Space Exploration &amp; Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some surprises in the fund’s portfolio: Some popular firms in space-exploration related fields were not included, while other seemingly unrelated names–including half a dozen internet tech giants–make up a significant weight.</p><p>That is because ARK’s space fund (ticker: ARKX) isn’t limited to companies directly involved in the space business, but also other innovations that have indirectly enabled the space boom. The ETF owns Google parent Alphabet (ticker: GOOG), for example, because it’s a leader in artificial intelligence. NVIDIA (NVDA), another holding, manufactures computer chips that allow rockets to operate efficiently.</p><p>The fund’s second-largest position is another ARK product, the $548 million ARK 3D Printing ETF (PRNT). That’s because many rocket parts are 3D printed for reasons related to cost, weight, and durability, says Ren Leggi, client portfolio manager at ARK. To be sure, the 0.66% management fee of the ARK 3D Printing ETF is fully rebated back to ARKX investors. “We are not double dipping,” says Leggi, “You are not paying double-layer fees.”</p><p>The fund also holds companies that are well-positioned to benefit from the development in aerospace-related tech. E-commerce giants like Amazon.com (AMZN) and Alibaba (BABA) are included because they can save delivery costs and generate revenue from drones if that market matures and scales. Netflix (NFLX), another holding, could potentially unlock millions of new users as satellite broadband connects more people to the internet. “There are three billion people who do not have access to internet,” says Leggi. “Satellite connectivity opens up the market. It really is about anything above ground.”</p><p>Still, there is one glaring omission in the fund: It doesn’t hold any of the new pure-play space companies set to go public via mergers with special purpose acquisition companies, or SPACs.</p><p>Those options would include Rocket Lab USA and Astra, two launch service companies that are currently sending commercial payloads into low Earth orbit. The pair is merging with Vector Acquisition (VACQ) and Holicity (HOL), respectively. BlackSky and Spire Global, two earth imaging businesses, are merging with Osprey Technology Acquisition (SFWT) and NavSight (NSH), respectively.</p><p>Others include AST &amp; Science, which is merging with New Providence Acquisition (NPA). That company is putting up hundreds of satellites to provide mobile phone infrastructure. Momentus, along with Redwire, offer the infrastructure services supporting new commercial space players. Those two are merging with Stable Road Acquisition (SRAC) and Genesis Park Acquisition (GNPK), respectively.</p><p>The market capitalization of those seven companies is roughly $16 billion based on the number of shares outstanding for each after their SPAC mergers close. But none of those names are included in the ARK Space fund’s portfolio—at least not yet.</p><p>ARK is open to investing in SPACs if the merger target has already been identified, says Leggi, but they need to review more financial data than is typically provided in SPAC merger presentations.</p><p>High valuations have also caused ARK to wait on some names. “They fit our theme but from a valuation point, they don’t meet our hurdle rate for the next five years,” says Leggi, noting that the fund looks for companies that can provide investors with 15% annualized returns. “We will be patient and continue to track them. If we get an opportunity, we will leg into it. A lot of them are very interesting,” he adds.</p><p>ARK isn’t the only one hesitant to jump into space SPACs. The space fund’s rival, the $129 million Procure Space ETF (UFO), also doesn’t own any SPACs. Unlike the actively managed ARK ETF, the Procure fund tracks an underlying index with predetermined rules that prohibit investments in SPACs before the merger is complete.</p><p>“There is a tremendous risk to any SPAC,” Andrew Chanin, CEO of Procure ETFs, tells Barron’s. “That a target is announced and the deal doesn’t go through for a multitude of reasons. Then you are looking at a company that doesn’t have any space exposure other than a proposed target.”</p><p>The Procure ETF has added newly public stocks to its holdings shortly after the SPAC merger was completed, such as space tourism pioneer Virgin Galactic (SPCE).</p><p>The Procure ETF claims to be a “purer” play. More than 80% of its portfolio–per index mandate–has to be invested in companies whose majority revenues are derived from space-related businesses and activities. The remaining 20% are in diversified aerospace defense names such as Boeing (BA) and Lockheed Martin (LMT), which also generate a significant amount of revenue–albeit not the majority–from their space-related units.</p><p>“Anyone can argue that almost every publicly traded company has some exposure to space, or space plays a role in that company’s ability to succeed,” says Chanin. “For us, it’s not about making nuanced arguments about how maybe a company could potentially benefit from space.”</p><p><b>Differing Exposures</b></p><p>Percentage of portfolio in selected industries.</p><p><img src=\"https://static.tigerbbs.com/7610169c4e1c63baad57b034b647f2ef\" tg-width=\"1242\" tg-height=\"975\" referrerpolicy=\"no-referrer\">Despite their differences, both funds share the same top holding, Trimble (TRMB), with an 8.6% weight in the ARK fund and a 5.2% weight in the Procure fund. The company is tapping into multiple space-related areas, offering software, data, and sensors for drones, as well as fleet management services for space construction and logistics.</p><p>Procure’s space fund was launched in April 2019. It dipped 2% in 2020, while the S&amp;P 500 returned 18.4%. Year to date, the Procure fund has gained 11.1%, beating the broader index by five percentage points.</p><p>The ARK space fund finished its first trading day on Tuesday down 1%. The S&amp;P 500 fell less than 1%.</p><p>And although neither funds have exposure to space SPACs, investors can still own a piece of them by buying shares of their SPACs. Barron’s recently wrote positively about Rocket Labs, believing it’s the best option for growth investors looking for new space exposure. The company is already carrying payloads into space and has the ability to build and manage satellites.</p>","source":"lsy1610680873436","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Cathie Wood’s Space ETF Has Some Unexpected Holdings</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Cathie Wood’s Space ETF Has Some Unexpected Holdings\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-31 18:14 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/the-ark-space-etf-has-some-unexpected-holdings-51617150050?mod=hp_LEAD_1><strong>Barron's</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The ARK Space Exploration & Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some...</p>\n\n<a href=\"https://www.barrons.com/articles/the-ark-space-etf-has-some-unexpected-holdings-51617150050?mod=hp_LEAD_1\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/55e4b11e868aab2bd1399f8a1e0cd685","relate_stocks":{},"source_url":"https://www.barrons.com/articles/the-ark-space-etf-has-some-unexpected-holdings-51617150050?mod=hp_LEAD_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1126047060","content_text":"The ARK Space Exploration & Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some surprises in the fund’s portfolio: Some popular firms in space-exploration related fields were not included, while other seemingly unrelated names–including half a dozen internet tech giants–make up a significant weight.That is because ARK’s space fund (ticker: ARKX) isn’t limited to companies directly involved in the space business, but also other innovations that have indirectly enabled the space boom. The ETF owns Google parent Alphabet (ticker: GOOG), for example, because it’s a leader in artificial intelligence. NVIDIA (NVDA), another holding, manufactures computer chips that allow rockets to operate efficiently.The fund’s second-largest position is another ARK product, the $548 million ARK 3D Printing ETF (PRNT). That’s because many rocket parts are 3D printed for reasons related to cost, weight, and durability, says Ren Leggi, client portfolio manager at ARK. To be sure, the 0.66% management fee of the ARK 3D Printing ETF is fully rebated back to ARKX investors. “We are not double dipping,” says Leggi, “You are not paying double-layer fees.”The fund also holds companies that are well-positioned to benefit from the development in aerospace-related tech. E-commerce giants like Amazon.com (AMZN) and Alibaba (BABA) are included because they can save delivery costs and generate revenue from drones if that market matures and scales. Netflix (NFLX), another holding, could potentially unlock millions of new users as satellite broadband connects more people to the internet. “There are three billion people who do not have access to internet,” says Leggi. “Satellite connectivity opens up the market. It really is about anything above ground.”Still, there is one glaring omission in the fund: It doesn’t hold any of the new pure-play space companies set to go public via mergers with special purpose acquisition companies, or SPACs.Those options would include Rocket Lab USA and Astra, two launch service companies that are currently sending commercial payloads into low Earth orbit. The pair is merging with Vector Acquisition (VACQ) and Holicity (HOL), respectively. BlackSky and Spire Global, two earth imaging businesses, are merging with Osprey Technology Acquisition (SFWT) and NavSight (NSH), respectively.Others include AST & Science, which is merging with New Providence Acquisition (NPA). That company is putting up hundreds of satellites to provide mobile phone infrastructure. Momentus, along with Redwire, offer the infrastructure services supporting new commercial space players. Those two are merging with Stable Road Acquisition (SRAC) and Genesis Park Acquisition (GNPK), respectively.The market capitalization of those seven companies is roughly $16 billion based on the number of shares outstanding for each after their SPAC mergers close. But none of those names are included in the ARK Space fund’s portfolio—at least not yet.ARK is open to investing in SPACs if the merger target has already been identified, says Leggi, but they need to review more financial data than is typically provided in SPAC merger presentations.High valuations have also caused ARK to wait on some names. “They fit our theme but from a valuation point, they don’t meet our hurdle rate for the next five years,” says Leggi, noting that the fund looks for companies that can provide investors with 15% annualized returns. “We will be patient and continue to track them. If we get an opportunity, we will leg into it. A lot of them are very interesting,” he adds.ARK isn’t the only one hesitant to jump into space SPACs. The space fund’s rival, the $129 million Procure Space ETF (UFO), also doesn’t own any SPACs. Unlike the actively managed ARK ETF, the Procure fund tracks an underlying index with predetermined rules that prohibit investments in SPACs before the merger is complete.“There is a tremendous risk to any SPAC,” Andrew Chanin, CEO of Procure ETFs, tells Barron’s. “That a target is announced and the deal doesn’t go through for a multitude of reasons. Then you are looking at a company that doesn’t have any space exposure other than a proposed target.”The Procure ETF has added newly public stocks to its holdings shortly after the SPAC merger was completed, such as space tourism pioneer Virgin Galactic (SPCE).The Procure ETF claims to be a “purer” play. More than 80% of its portfolio–per index mandate–has to be invested in companies whose majority revenues are derived from space-related businesses and activities. The remaining 20% are in diversified aerospace defense names such as Boeing (BA) and Lockheed Martin (LMT), which also generate a significant amount of revenue–albeit not the majority–from their space-related units.“Anyone can argue that almost every publicly traded company has some exposure to space, or space plays a role in that company’s ability to succeed,” says Chanin. “For us, it’s not about making nuanced arguments about how maybe a company could potentially benefit from space.”Differing ExposuresPercentage of portfolio in selected industries.Despite their differences, both funds share the same top holding, Trimble (TRMB), with an 8.6% weight in the ARK fund and a 5.2% weight in the Procure fund. The company is tapping into multiple space-related areas, offering software, data, and sensors for drones, as well as fleet management services for space construction and logistics.Procure’s space fund was launched in April 2019. It dipped 2% in 2020, while the S&P 500 returned 18.4%. Year to date, the Procure fund has gained 11.1%, beating the broader index by five percentage points.The ARK space fund finished its first trading day on Tuesday down 1%. The S&P 500 fell less than 1%.And although neither funds have exposure to space SPACs, investors can still own a piece of them by buying shares of their SPACs. Barron’s recently wrote positively about Rocket Labs, believing it’s the best option for growth investors looking for new space exposure. The company is already carrying payloads into space and has the ability to build and manage satellites.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":354457467,"gmtCreate":1617198609859,"gmtModify":1634522118938,"author":{"id":"3561582804451218","authorId":"3561582804451218","name":"Ironteam","avatar":"https://static.tigerbbs.com/820ff4e88bef87bdd250ce62ad08f334","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3561582804451218","authorIdStr":"3561582804451218"},"htmlText":"I find it odd too, but I guess they are good to&nbsp;hedge against the more volatile stocks that has huge growth potential.&nbsp;","listText":"I find it odd too, but I guess they are good to&nbsp;hedge against the more volatile stocks that has huge growth potential.&nbsp;","text":"I find it odd too, but I guess they are good to hedge against the more volatile stocks that has huge growth potential.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/354457467","repostId":1126047060,"repostType":2,"repost":{"id":"1126047060","kind":"news","pubTimestamp":1617185695,"share":"https://www.laohu8.com/m/news/1126047060?lang=&edition=full","pubTime":"2021-03-31 18:14","market":"us","language":"en","title":"Why Cathie Wood’s Space ETF Has Some Unexpected Holdings","url":"https://stock-news.laohu8.com/highlight/detail?id=1126047060","media":"Barron's","summary":"The ARK Space Exploration & Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some surprises in the fund’s portfolio: Some popular firms in space-exploration related fields were not included, while other seemingly unrelated names–including half a dozen internet tech giants–make up a significant weight.That is because ARK’s space fund  isn’t limited to companies directly involved ","content":"<p>The ARK Space Exploration &amp; Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some surprises in the fund’s portfolio: Some popular firms in space-exploration related fields were not included, while other seemingly unrelated names–including half a dozen internet tech giants–make up a significant weight.</p><p>That is because ARK’s space fund (ticker: ARKX) isn’t limited to companies directly involved in the space business, but also other innovations that have indirectly enabled the space boom. The ETF owns Google parent Alphabet (ticker: GOOG), for example, because it’s a leader in artificial intelligence. NVIDIA (NVDA), another holding, manufactures computer chips that allow rockets to operate efficiently.</p><p>The fund’s second-largest position is another ARK product, the $548 million ARK 3D Printing ETF (PRNT). That’s because many rocket parts are 3D printed for reasons related to cost, weight, and durability, says Ren Leggi, client portfolio manager at ARK. To be sure, the 0.66% management fee of the ARK 3D Printing ETF is fully rebated back to ARKX investors. “We are not double dipping,” says Leggi, “You are not paying double-layer fees.”</p><p>The fund also holds companies that are well-positioned to benefit from the development in aerospace-related tech. E-commerce giants like Amazon.com (AMZN) and Alibaba (BABA) are included because they can save delivery costs and generate revenue from drones if that market matures and scales. Netflix (NFLX), another holding, could potentially unlock millions of new users as satellite broadband connects more people to the internet. “There are three billion people who do not have access to internet,” says Leggi. “Satellite connectivity opens up the market. It really is about anything above ground.”</p><p>Still, there is one glaring omission in the fund: It doesn’t hold any of the new pure-play space companies set to go public via mergers with special purpose acquisition companies, or SPACs.</p><p>Those options would include Rocket Lab USA and Astra, two launch service companies that are currently sending commercial payloads into low Earth orbit. The pair is merging with Vector Acquisition (VACQ) and Holicity (HOL), respectively. BlackSky and Spire Global, two earth imaging businesses, are merging with Osprey Technology Acquisition (SFWT) and NavSight (NSH), respectively.</p><p>Others include AST &amp; Science, which is merging with New Providence Acquisition (NPA). That company is putting up hundreds of satellites to provide mobile phone infrastructure. Momentus, along with Redwire, offer the infrastructure services supporting new commercial space players. Those two are merging with Stable Road Acquisition (SRAC) and Genesis Park Acquisition (GNPK), respectively.</p><p>The market capitalization of those seven companies is roughly $16 billion based on the number of shares outstanding for each after their SPAC mergers close. But none of those names are included in the ARK Space fund’s portfolio—at least not yet.</p><p>ARK is open to investing in SPACs if the merger target has already been identified, says Leggi, but they need to review more financial data than is typically provided in SPAC merger presentations.</p><p>High valuations have also caused ARK to wait on some names. “They fit our theme but from a valuation point, they don’t meet our hurdle rate for the next five years,” says Leggi, noting that the fund looks for companies that can provide investors with 15% annualized returns. “We will be patient and continue to track them. If we get an opportunity, we will leg into it. A lot of them are very interesting,” he adds.</p><p>ARK isn’t the only one hesitant to jump into space SPACs. The space fund’s rival, the $129 million Procure Space ETF (UFO), also doesn’t own any SPACs. Unlike the actively managed ARK ETF, the Procure fund tracks an underlying index with predetermined rules that prohibit investments in SPACs before the merger is complete.</p><p>“There is a tremendous risk to any SPAC,” Andrew Chanin, CEO of Procure ETFs, tells Barron’s. “That a target is announced and the deal doesn’t go through for a multitude of reasons. Then you are looking at a company that doesn’t have any space exposure other than a proposed target.”</p><p>The Procure ETF has added newly public stocks to its holdings shortly after the SPAC merger was completed, such as space tourism pioneer Virgin Galactic (SPCE).</p><p>The Procure ETF claims to be a “purer” play. More than 80% of its portfolio–per index mandate–has to be invested in companies whose majority revenues are derived from space-related businesses and activities. The remaining 20% are in diversified aerospace defense names such as Boeing (BA) and Lockheed Martin (LMT), which also generate a significant amount of revenue–albeit not the majority–from their space-related units.</p><p>“Anyone can argue that almost every publicly traded company has some exposure to space, or space plays a role in that company’s ability to succeed,” says Chanin. “For us, it’s not about making nuanced arguments about how maybe a company could potentially benefit from space.”</p><p><b>Differing Exposures</b></p><p>Percentage of portfolio in selected industries.</p><p><img src=\"https://static.tigerbbs.com/7610169c4e1c63baad57b034b647f2ef\" tg-width=\"1242\" tg-height=\"975\" referrerpolicy=\"no-referrer\">Despite their differences, both funds share the same top holding, Trimble (TRMB), with an 8.6% weight in the ARK fund and a 5.2% weight in the Procure fund. The company is tapping into multiple space-related areas, offering software, data, and sensors for drones, as well as fleet management services for space construction and logistics.</p><p>Procure’s space fund was launched in April 2019. It dipped 2% in 2020, while the S&amp;P 500 returned 18.4%. Year to date, the Procure fund has gained 11.1%, beating the broader index by five percentage points.</p><p>The ARK space fund finished its first trading day on Tuesday down 1%. The S&amp;P 500 fell less than 1%.</p><p>And although neither funds have exposure to space SPACs, investors can still own a piece of them by buying shares of their SPACs. Barron’s recently wrote positively about Rocket Labs, believing it’s the best option for growth investors looking for new space exposure. The company is already carrying payloads into space and has the ability to build and manage satellites.</p>","source":"lsy1610680873436","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Cathie Wood’s Space ETF Has Some Unexpected Holdings</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Cathie Wood’s Space ETF Has Some Unexpected Holdings\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-31 18:14 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/the-ark-space-etf-has-some-unexpected-holdings-51617150050?mod=hp_LEAD_1><strong>Barron's</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The ARK Space Exploration & Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some...</p>\n\n<a href=\"https://www.barrons.com/articles/the-ark-space-etf-has-some-unexpected-holdings-51617150050?mod=hp_LEAD_1\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/55e4b11e868aab2bd1399f8a1e0cd685","relate_stocks":{},"source_url":"https://www.barrons.com/articles/the-ark-space-etf-has-some-unexpected-holdings-51617150050?mod=hp_LEAD_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1126047060","content_text":"The ARK Space Exploration & Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some surprises in the fund’s portfolio: Some popular firms in space-exploration related fields were not included, while other seemingly unrelated names–including half a dozen internet tech giants–make up a significant weight.That is because ARK’s space fund (ticker: ARKX) isn’t limited to companies directly involved in the space business, but also other innovations that have indirectly enabled the space boom. The ETF owns Google parent Alphabet (ticker: GOOG), for example, because it’s a leader in artificial intelligence. NVIDIA (NVDA), another holding, manufactures computer chips that allow rockets to operate efficiently.The fund’s second-largest position is another ARK product, the $548 million ARK 3D Printing ETF (PRNT). That’s because many rocket parts are 3D printed for reasons related to cost, weight, and durability, says Ren Leggi, client portfolio manager at ARK. To be sure, the 0.66% management fee of the ARK 3D Printing ETF is fully rebated back to ARKX investors. “We are not double dipping,” says Leggi, “You are not paying double-layer fees.”The fund also holds companies that are well-positioned to benefit from the development in aerospace-related tech. E-commerce giants like Amazon.com (AMZN) and Alibaba (BABA) are included because they can save delivery costs and generate revenue from drones if that market matures and scales. Netflix (NFLX), another holding, could potentially unlock millions of new users as satellite broadband connects more people to the internet. “There are three billion people who do not have access to internet,” says Leggi. “Satellite connectivity opens up the market. It really is about anything above ground.”Still, there is one glaring omission in the fund: It doesn’t hold any of the new pure-play space companies set to go public via mergers with special purpose acquisition companies, or SPACs.Those options would include Rocket Lab USA and Astra, two launch service companies that are currently sending commercial payloads into low Earth orbit. The pair is merging with Vector Acquisition (VACQ) and Holicity (HOL), respectively. BlackSky and Spire Global, two earth imaging businesses, are merging with Osprey Technology Acquisition (SFWT) and NavSight (NSH), respectively.Others include AST & Science, which is merging with New Providence Acquisition (NPA). That company is putting up hundreds of satellites to provide mobile phone infrastructure. Momentus, along with Redwire, offer the infrastructure services supporting new commercial space players. Those two are merging with Stable Road Acquisition (SRAC) and Genesis Park Acquisition (GNPK), respectively.The market capitalization of those seven companies is roughly $16 billion based on the number of shares outstanding for each after their SPAC mergers close. But none of those names are included in the ARK Space fund’s portfolio—at least not yet.ARK is open to investing in SPACs if the merger target has already been identified, says Leggi, but they need to review more financial data than is typically provided in SPAC merger presentations.High valuations have also caused ARK to wait on some names. “They fit our theme but from a valuation point, they don’t meet our hurdle rate for the next five years,” says Leggi, noting that the fund looks for companies that can provide investors with 15% annualized returns. “We will be patient and continue to track them. If we get an opportunity, we will leg into it. A lot of them are very interesting,” he adds.ARK isn’t the only one hesitant to jump into space SPACs. The space fund’s rival, the $129 million Procure Space ETF (UFO), also doesn’t own any SPACs. Unlike the actively managed ARK ETF, the Procure fund tracks an underlying index with predetermined rules that prohibit investments in SPACs before the merger is complete.“There is a tremendous risk to any SPAC,” Andrew Chanin, CEO of Procure ETFs, tells Barron’s. “That a target is announced and the deal doesn’t go through for a multitude of reasons. Then you are looking at a company that doesn’t have any space exposure other than a proposed target.”The Procure ETF has added newly public stocks to its holdings shortly after the SPAC merger was completed, such as space tourism pioneer Virgin Galactic (SPCE).The Procure ETF claims to be a “purer” play. More than 80% of its portfolio–per index mandate–has to be invested in companies whose majority revenues are derived from space-related businesses and activities. The remaining 20% are in diversified aerospace defense names such as Boeing (BA) and Lockheed Martin (LMT), which also generate a significant amount of revenue–albeit not the majority–from their space-related units.“Anyone can argue that almost every publicly traded company has some exposure to space, or space plays a role in that company’s ability to succeed,” says Chanin. “For us, it’s not about making nuanced arguments about how maybe a company could potentially benefit from space.”Differing ExposuresPercentage of portfolio in selected industries.Despite their differences, both funds share the same top holding, Trimble (TRMB), with an 8.6% weight in the ARK fund and a 5.2% weight in the Procure fund. The company is tapping into multiple space-related areas, offering software, data, and sensors for drones, as well as fleet management services for space construction and logistics.Procure’s space fund was launched in April 2019. It dipped 2% in 2020, while the S&P 500 returned 18.4%. Year to date, the Procure fund has gained 11.1%, beating the broader index by five percentage points.The ARK space fund finished its first trading day on Tuesday down 1%. The S&P 500 fell less than 1%.And although neither funds have exposure to space SPACs, investors can still own a piece of them by buying shares of their SPACs. Barron’s recently wrote positively about Rocket Labs, believing it’s the best option for growth investors looking for new space exposure. The company is already carrying payloads into space and has the ability to build and manage satellites.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":354486387,"gmtCreate":1617196907949,"gmtModify":1631891822555,"author":{"id":"3572685978072370","authorId":"3572685978072370","name":"JLYJ","avatar":"https://static.tigerbbs.com/de57572f1fa11e3decd397d6be51e2e6","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3572685978072370","authorIdStr":"3572685978072370"},"htmlText":"It's a creative ETF","listText":"It's a creative ETF","text":"It's a creative ETF","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/354486387","repostId":1126047060,"repostType":4,"repost":{"id":"1126047060","kind":"news","pubTimestamp":1617185695,"share":"https://www.laohu8.com/m/news/1126047060?lang=&edition=full","pubTime":"2021-03-31 18:14","market":"us","language":"en","title":"Why Cathie Wood’s Space ETF Has Some Unexpected Holdings","url":"https://stock-news.laohu8.com/highlight/detail?id=1126047060","media":"Barron's","summary":"The ARK Space Exploration & Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some surprises in the fund’s portfolio: Some popular firms in space-exploration related fields were not included, while other seemingly unrelated names–including half a dozen internet tech giants–make up a significant weight.That is because ARK’s space fund  isn’t limited to companies directly involved ","content":"<p>The ARK Space Exploration &amp; Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some surprises in the fund’s portfolio: Some popular firms in space-exploration related fields were not included, while other seemingly unrelated names–including half a dozen internet tech giants–make up a significant weight.</p><p>That is because ARK’s space fund (ticker: ARKX) isn’t limited to companies directly involved in the space business, but also other innovations that have indirectly enabled the space boom. The ETF owns Google parent Alphabet (ticker: GOOG), for example, because it’s a leader in artificial intelligence. NVIDIA (NVDA), another holding, manufactures computer chips that allow rockets to operate efficiently.</p><p>The fund’s second-largest position is another ARK product, the $548 million ARK 3D Printing ETF (PRNT). That’s because many rocket parts are 3D printed for reasons related to cost, weight, and durability, says Ren Leggi, client portfolio manager at ARK. To be sure, the 0.66% management fee of the ARK 3D Printing ETF is fully rebated back to ARKX investors. “We are not double dipping,” says Leggi, “You are not paying double-layer fees.”</p><p>The fund also holds companies that are well-positioned to benefit from the development in aerospace-related tech. E-commerce giants like Amazon.com (AMZN) and Alibaba (BABA) are included because they can save delivery costs and generate revenue from drones if that market matures and scales. Netflix (NFLX), another holding, could potentially unlock millions of new users as satellite broadband connects more people to the internet. “There are three billion people who do not have access to internet,” says Leggi. “Satellite connectivity opens up the market. It really is about anything above ground.”</p><p>Still, there is one glaring omission in the fund: It doesn’t hold any of the new pure-play space companies set to go public via mergers with special purpose acquisition companies, or SPACs.</p><p>Those options would include Rocket Lab USA and Astra, two launch service companies that are currently sending commercial payloads into low Earth orbit. The pair is merging with Vector Acquisition (VACQ) and Holicity (HOL), respectively. BlackSky and Spire Global, two earth imaging businesses, are merging with Osprey Technology Acquisition (SFWT) and NavSight (NSH), respectively.</p><p>Others include AST &amp; Science, which is merging with New Providence Acquisition (NPA). That company is putting up hundreds of satellites to provide mobile phone infrastructure. Momentus, along with Redwire, offer the infrastructure services supporting new commercial space players. Those two are merging with Stable Road Acquisition (SRAC) and Genesis Park Acquisition (GNPK), respectively.</p><p>The market capitalization of those seven companies is roughly $16 billion based on the number of shares outstanding for each after their SPAC mergers close. But none of those names are included in the ARK Space fund’s portfolio—at least not yet.</p><p>ARK is open to investing in SPACs if the merger target has already been identified, says Leggi, but they need to review more financial data than is typically provided in SPAC merger presentations.</p><p>High valuations have also caused ARK to wait on some names. “They fit our theme but from a valuation point, they don’t meet our hurdle rate for the next five years,” says Leggi, noting that the fund looks for companies that can provide investors with 15% annualized returns. “We will be patient and continue to track them. If we get an opportunity, we will leg into it. A lot of them are very interesting,” he adds.</p><p>ARK isn’t the only one hesitant to jump into space SPACs. The space fund’s rival, the $129 million Procure Space ETF (UFO), also doesn’t own any SPACs. Unlike the actively managed ARK ETF, the Procure fund tracks an underlying index with predetermined rules that prohibit investments in SPACs before the merger is complete.</p><p>“There is a tremendous risk to any SPAC,” Andrew Chanin, CEO of Procure ETFs, tells Barron’s. “That a target is announced and the deal doesn’t go through for a multitude of reasons. Then you are looking at a company that doesn’t have any space exposure other than a proposed target.”</p><p>The Procure ETF has added newly public stocks to its holdings shortly after the SPAC merger was completed, such as space tourism pioneer Virgin Galactic (SPCE).</p><p>The Procure ETF claims to be a “purer” play. More than 80% of its portfolio–per index mandate–has to be invested in companies whose majority revenues are derived from space-related businesses and activities. The remaining 20% are in diversified aerospace defense names such as Boeing (BA) and Lockheed Martin (LMT), which also generate a significant amount of revenue–albeit not the majority–from their space-related units.</p><p>“Anyone can argue that almost every publicly traded company has some exposure to space, or space plays a role in that company’s ability to succeed,” says Chanin. “For us, it’s not about making nuanced arguments about how maybe a company could potentially benefit from space.”</p><p><b>Differing Exposures</b></p><p>Percentage of portfolio in selected industries.</p><p><img src=\"https://static.tigerbbs.com/7610169c4e1c63baad57b034b647f2ef\" tg-width=\"1242\" tg-height=\"975\" referrerpolicy=\"no-referrer\">Despite their differences, both funds share the same top holding, Trimble (TRMB), with an 8.6% weight in the ARK fund and a 5.2% weight in the Procure fund. The company is tapping into multiple space-related areas, offering software, data, and sensors for drones, as well as fleet management services for space construction and logistics.</p><p>Procure’s space fund was launched in April 2019. It dipped 2% in 2020, while the S&amp;P 500 returned 18.4%. Year to date, the Procure fund has gained 11.1%, beating the broader index by five percentage points.</p><p>The ARK space fund finished its first trading day on Tuesday down 1%. The S&amp;P 500 fell less than 1%.</p><p>And although neither funds have exposure to space SPACs, investors can still own a piece of them by buying shares of their SPACs. Barron’s recently wrote positively about Rocket Labs, believing it’s the best option for growth investors looking for new space exposure. The company is already carrying payloads into space and has the ability to build and manage satellites.</p>","source":"lsy1610680873436","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Cathie Wood’s Space ETF Has Some Unexpected Holdings</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Cathie Wood’s Space ETF Has Some Unexpected Holdings\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-31 18:14 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/the-ark-space-etf-has-some-unexpected-holdings-51617150050?mod=hp_LEAD_1><strong>Barron's</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The ARK Space Exploration & Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some...</p>\n\n<a href=\"https://www.barrons.com/articles/the-ark-space-etf-has-some-unexpected-holdings-51617150050?mod=hp_LEAD_1\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/55e4b11e868aab2bd1399f8a1e0cd685","relate_stocks":{},"source_url":"https://www.barrons.com/articles/the-ark-space-etf-has-some-unexpected-holdings-51617150050?mod=hp_LEAD_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1126047060","content_text":"The ARK Space Exploration & Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some surprises in the fund’s portfolio: Some popular firms in space-exploration related fields were not included, while other seemingly unrelated names–including half a dozen internet tech giants–make up a significant weight.That is because ARK’s space fund (ticker: ARKX) isn’t limited to companies directly involved in the space business, but also other innovations that have indirectly enabled the space boom. The ETF owns Google parent Alphabet (ticker: GOOG), for example, because it’s a leader in artificial intelligence. NVIDIA (NVDA), another holding, manufactures computer chips that allow rockets to operate efficiently.The fund’s second-largest position is another ARK product, the $548 million ARK 3D Printing ETF (PRNT). That’s because many rocket parts are 3D printed for reasons related to cost, weight, and durability, says Ren Leggi, client portfolio manager at ARK. To be sure, the 0.66% management fee of the ARK 3D Printing ETF is fully rebated back to ARKX investors. “We are not double dipping,” says Leggi, “You are not paying double-layer fees.”The fund also holds companies that are well-positioned to benefit from the development in aerospace-related tech. E-commerce giants like Amazon.com (AMZN) and Alibaba (BABA) are included because they can save delivery costs and generate revenue from drones if that market matures and scales. Netflix (NFLX), another holding, could potentially unlock millions of new users as satellite broadband connects more people to the internet. “There are three billion people who do not have access to internet,” says Leggi. “Satellite connectivity opens up the market. It really is about anything above ground.”Still, there is one glaring omission in the fund: It doesn’t hold any of the new pure-play space companies set to go public via mergers with special purpose acquisition companies, or SPACs.Those options would include Rocket Lab USA and Astra, two launch service companies that are currently sending commercial payloads into low Earth orbit. The pair is merging with Vector Acquisition (VACQ) and Holicity (HOL), respectively. BlackSky and Spire Global, two earth imaging businesses, are merging with Osprey Technology Acquisition (SFWT) and NavSight (NSH), respectively.Others include AST & Science, which is merging with New Providence Acquisition (NPA). That company is putting up hundreds of satellites to provide mobile phone infrastructure. Momentus, along with Redwire, offer the infrastructure services supporting new commercial space players. Those two are merging with Stable Road Acquisition (SRAC) and Genesis Park Acquisition (GNPK), respectively.The market capitalization of those seven companies is roughly $16 billion based on the number of shares outstanding for each after their SPAC mergers close. But none of those names are included in the ARK Space fund’s portfolio—at least not yet.ARK is open to investing in SPACs if the merger target has already been identified, says Leggi, but they need to review more financial data than is typically provided in SPAC merger presentations.High valuations have also caused ARK to wait on some names. “They fit our theme but from a valuation point, they don’t meet our hurdle rate for the next five years,” says Leggi, noting that the fund looks for companies that can provide investors with 15% annualized returns. “We will be patient and continue to track them. If we get an opportunity, we will leg into it. A lot of them are very interesting,” he adds.ARK isn’t the only one hesitant to jump into space SPACs. The space fund’s rival, the $129 million Procure Space ETF (UFO), also doesn’t own any SPACs. Unlike the actively managed ARK ETF, the Procure fund tracks an underlying index with predetermined rules that prohibit investments in SPACs before the merger is complete.“There is a tremendous risk to any SPAC,” Andrew Chanin, CEO of Procure ETFs, tells Barron’s. “That a target is announced and the deal doesn’t go through for a multitude of reasons. Then you are looking at a company that doesn’t have any space exposure other than a proposed target.”The Procure ETF has added newly public stocks to its holdings shortly after the SPAC merger was completed, such as space tourism pioneer Virgin Galactic (SPCE).The Procure ETF claims to be a “purer” play. More than 80% of its portfolio–per index mandate–has to be invested in companies whose majority revenues are derived from space-related businesses and activities. The remaining 20% are in diversified aerospace defense names such as Boeing (BA) and Lockheed Martin (LMT), which also generate a significant amount of revenue–albeit not the majority–from their space-related units.“Anyone can argue that almost every publicly traded company has some exposure to space, or space plays a role in that company’s ability to succeed,” says Chanin. “For us, it’s not about making nuanced arguments about how maybe a company could potentially benefit from space.”Differing ExposuresPercentage of portfolio in selected industries.Despite their differences, both funds share the same top holding, Trimble (TRMB), with an 8.6% weight in the ARK fund and a 5.2% weight in the Procure fund. The company is tapping into multiple space-related areas, offering software, data, and sensors for drones, as well as fleet management services for space construction and logistics.Procure’s space fund was launched in April 2019. It dipped 2% in 2020, while the S&P 500 returned 18.4%. Year to date, the Procure fund has gained 11.1%, beating the broader index by five percentage points.The ARK space fund finished its first trading day on Tuesday down 1%. The S&P 500 fell less than 1%.And although neither funds have exposure to space SPACs, investors can still own a piece of them by buying shares of their SPACs. Barron’s recently wrote positively about Rocket Labs, believing it’s the best option for growth investors looking for new space exposure. The company is already carrying payloads into space and has the ability to build and manage satellites.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":354490325,"gmtCreate":1617193932767,"gmtModify":1634522162186,"author":{"id":"3572139599881104","authorId":"3572139599881104","name":"Humble_Teoh","avatar":"https://static.tigerbbs.com/5fd84204122d47f9ce31185f7bf7276f","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3572139599881104","authorIdStr":"3572139599881104"},"htmlText":"Great... but i have no spare bullet to follow","listText":"Great... but i have no spare bullet to follow","text":"Great... but i have no spare bullet to follow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/354490325","repostId":1126047060,"repostType":4,"repost":{"id":"1126047060","kind":"news","pubTimestamp":1617185695,"share":"https://www.laohu8.com/m/news/1126047060?lang=&edition=full","pubTime":"2021-03-31 18:14","market":"us","language":"en","title":"Why Cathie Wood’s Space ETF Has Some Unexpected Holdings","url":"https://stock-news.laohu8.com/highlight/detail?id=1126047060","media":"Barron's","summary":"The ARK Space Exploration & Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some surprises in the fund’s portfolio: Some popular firms in space-exploration related fields were not included, while other seemingly unrelated names–including half a dozen internet tech giants–make up a significant weight.That is because ARK’s space fund  isn’t limited to companies directly involved ","content":"<p>The ARK Space Exploration &amp; Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some surprises in the fund’s portfolio: Some popular firms in space-exploration related fields were not included, while other seemingly unrelated names–including half a dozen internet tech giants–make up a significant weight.</p><p>That is because ARK’s space fund (ticker: ARKX) isn’t limited to companies directly involved in the space business, but also other innovations that have indirectly enabled the space boom. The ETF owns Google parent Alphabet (ticker: GOOG), for example, because it’s a leader in artificial intelligence. NVIDIA (NVDA), another holding, manufactures computer chips that allow rockets to operate efficiently.</p><p>The fund’s second-largest position is another ARK product, the $548 million ARK 3D Printing ETF (PRNT). That’s because many rocket parts are 3D printed for reasons related to cost, weight, and durability, says Ren Leggi, client portfolio manager at ARK. To be sure, the 0.66% management fee of the ARK 3D Printing ETF is fully rebated back to ARKX investors. “We are not double dipping,” says Leggi, “You are not paying double-layer fees.”</p><p>The fund also holds companies that are well-positioned to benefit from the development in aerospace-related tech. E-commerce giants like Amazon.com (AMZN) and Alibaba (BABA) are included because they can save delivery costs and generate revenue from drones if that market matures and scales. Netflix (NFLX), another holding, could potentially unlock millions of new users as satellite broadband connects more people to the internet. “There are three billion people who do not have access to internet,” says Leggi. “Satellite connectivity opens up the market. It really is about anything above ground.”</p><p>Still, there is one glaring omission in the fund: It doesn’t hold any of the new pure-play space companies set to go public via mergers with special purpose acquisition companies, or SPACs.</p><p>Those options would include Rocket Lab USA and Astra, two launch service companies that are currently sending commercial payloads into low Earth orbit. The pair is merging with Vector Acquisition (VACQ) and Holicity (HOL), respectively. BlackSky and Spire Global, two earth imaging businesses, are merging with Osprey Technology Acquisition (SFWT) and NavSight (NSH), respectively.</p><p>Others include AST &amp; Science, which is merging with New Providence Acquisition (NPA). That company is putting up hundreds of satellites to provide mobile phone infrastructure. Momentus, along with Redwire, offer the infrastructure services supporting new commercial space players. Those two are merging with Stable Road Acquisition (SRAC) and Genesis Park Acquisition (GNPK), respectively.</p><p>The market capitalization of those seven companies is roughly $16 billion based on the number of shares outstanding for each after their SPAC mergers close. But none of those names are included in the ARK Space fund’s portfolio—at least not yet.</p><p>ARK is open to investing in SPACs if the merger target has already been identified, says Leggi, but they need to review more financial data than is typically provided in SPAC merger presentations.</p><p>High valuations have also caused ARK to wait on some names. “They fit our theme but from a valuation point, they don’t meet our hurdle rate for the next five years,” says Leggi, noting that the fund looks for companies that can provide investors with 15% annualized returns. “We will be patient and continue to track them. If we get an opportunity, we will leg into it. A lot of them are very interesting,” he adds.</p><p>ARK isn’t the only one hesitant to jump into space SPACs. The space fund’s rival, the $129 million Procure Space ETF (UFO), also doesn’t own any SPACs. Unlike the actively managed ARK ETF, the Procure fund tracks an underlying index with predetermined rules that prohibit investments in SPACs before the merger is complete.</p><p>“There is a tremendous risk to any SPAC,” Andrew Chanin, CEO of Procure ETFs, tells Barron’s. “That a target is announced and the deal doesn’t go through for a multitude of reasons. Then you are looking at a company that doesn’t have any space exposure other than a proposed target.”</p><p>The Procure ETF has added newly public stocks to its holdings shortly after the SPAC merger was completed, such as space tourism pioneer Virgin Galactic (SPCE).</p><p>The Procure ETF claims to be a “purer” play. More than 80% of its portfolio–per index mandate–has to be invested in companies whose majority revenues are derived from space-related businesses and activities. The remaining 20% are in diversified aerospace defense names such as Boeing (BA) and Lockheed Martin (LMT), which also generate a significant amount of revenue–albeit not the majority–from their space-related units.</p><p>“Anyone can argue that almost every publicly traded company has some exposure to space, or space plays a role in that company’s ability to succeed,” says Chanin. “For us, it’s not about making nuanced arguments about how maybe a company could potentially benefit from space.”</p><p><b>Differing Exposures</b></p><p>Percentage of portfolio in selected industries.</p><p><img src=\"https://static.tigerbbs.com/7610169c4e1c63baad57b034b647f2ef\" tg-width=\"1242\" tg-height=\"975\" referrerpolicy=\"no-referrer\">Despite their differences, both funds share the same top holding, Trimble (TRMB), with an 8.6% weight in the ARK fund and a 5.2% weight in the Procure fund. The company is tapping into multiple space-related areas, offering software, data, and sensors for drones, as well as fleet management services for space construction and logistics.</p><p>Procure’s space fund was launched in April 2019. It dipped 2% in 2020, while the S&amp;P 500 returned 18.4%. Year to date, the Procure fund has gained 11.1%, beating the broader index by five percentage points.</p><p>The ARK space fund finished its first trading day on Tuesday down 1%. The S&amp;P 500 fell less than 1%.</p><p>And although neither funds have exposure to space SPACs, investors can still own a piece of them by buying shares of their SPACs. Barron’s recently wrote positively about Rocket Labs, believing it’s the best option for growth investors looking for new space exposure. The company is already carrying payloads into space and has the ability to build and manage satellites.</p>","source":"lsy1610680873436","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Cathie Wood’s Space ETF Has Some Unexpected Holdings</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Cathie Wood’s Space ETF Has Some Unexpected Holdings\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-31 18:14 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/the-ark-space-etf-has-some-unexpected-holdings-51617150050?mod=hp_LEAD_1><strong>Barron's</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The ARK Space Exploration & Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some...</p>\n\n<a href=\"https://www.barrons.com/articles/the-ark-space-etf-has-some-unexpected-holdings-51617150050?mod=hp_LEAD_1\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/55e4b11e868aab2bd1399f8a1e0cd685","relate_stocks":{},"source_url":"https://www.barrons.com/articles/the-ark-space-etf-has-some-unexpected-holdings-51617150050?mod=hp_LEAD_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1126047060","content_text":"The ARK Space Exploration & Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some surprises in the fund’s portfolio: Some popular firms in space-exploration related fields were not included, while other seemingly unrelated names–including half a dozen internet tech giants–make up a significant weight.That is because ARK’s space fund (ticker: ARKX) isn’t limited to companies directly involved in the space business, but also other innovations that have indirectly enabled the space boom. The ETF owns Google parent Alphabet (ticker: GOOG), for example, because it’s a leader in artificial intelligence. NVIDIA (NVDA), another holding, manufactures computer chips that allow rockets to operate efficiently.The fund’s second-largest position is another ARK product, the $548 million ARK 3D Printing ETF (PRNT). That’s because many rocket parts are 3D printed for reasons related to cost, weight, and durability, says Ren Leggi, client portfolio manager at ARK. To be sure, the 0.66% management fee of the ARK 3D Printing ETF is fully rebated back to ARKX investors. “We are not double dipping,” says Leggi, “You are not paying double-layer fees.”The fund also holds companies that are well-positioned to benefit from the development in aerospace-related tech. E-commerce giants like Amazon.com (AMZN) and Alibaba (BABA) are included because they can save delivery costs and generate revenue from drones if that market matures and scales. Netflix (NFLX), another holding, could potentially unlock millions of new users as satellite broadband connects more people to the internet. “There are three billion people who do not have access to internet,” says Leggi. “Satellite connectivity opens up the market. It really is about anything above ground.”Still, there is one glaring omission in the fund: It doesn’t hold any of the new pure-play space companies set to go public via mergers with special purpose acquisition companies, or SPACs.Those options would include Rocket Lab USA and Astra, two launch service companies that are currently sending commercial payloads into low Earth orbit. The pair is merging with Vector Acquisition (VACQ) and Holicity (HOL), respectively. BlackSky and Spire Global, two earth imaging businesses, are merging with Osprey Technology Acquisition (SFWT) and NavSight (NSH), respectively.Others include AST & Science, which is merging with New Providence Acquisition (NPA). That company is putting up hundreds of satellites to provide mobile phone infrastructure. Momentus, along with Redwire, offer the infrastructure services supporting new commercial space players. Those two are merging with Stable Road Acquisition (SRAC) and Genesis Park Acquisition (GNPK), respectively.The market capitalization of those seven companies is roughly $16 billion based on the number of shares outstanding for each after their SPAC mergers close. But none of those names are included in the ARK Space fund’s portfolio—at least not yet.ARK is open to investing in SPACs if the merger target has already been identified, says Leggi, but they need to review more financial data than is typically provided in SPAC merger presentations.High valuations have also caused ARK to wait on some names. “They fit our theme but from a valuation point, they don’t meet our hurdle rate for the next five years,” says Leggi, noting that the fund looks for companies that can provide investors with 15% annualized returns. “We will be patient and continue to track them. If we get an opportunity, we will leg into it. A lot of them are very interesting,” he adds.ARK isn’t the only one hesitant to jump into space SPACs. The space fund’s rival, the $129 million Procure Space ETF (UFO), also doesn’t own any SPACs. Unlike the actively managed ARK ETF, the Procure fund tracks an underlying index with predetermined rules that prohibit investments in SPACs before the merger is complete.“There is a tremendous risk to any SPAC,” Andrew Chanin, CEO of Procure ETFs, tells Barron’s. “That a target is announced and the deal doesn’t go through for a multitude of reasons. Then you are looking at a company that doesn’t have any space exposure other than a proposed target.”The Procure ETF has added newly public stocks to its holdings shortly after the SPAC merger was completed, such as space tourism pioneer Virgin Galactic (SPCE).The Procure ETF claims to be a “purer” play. More than 80% of its portfolio–per index mandate–has to be invested in companies whose majority revenues are derived from space-related businesses and activities. The remaining 20% are in diversified aerospace defense names such as Boeing (BA) and Lockheed Martin (LMT), which also generate a significant amount of revenue–albeit not the majority–from their space-related units.“Anyone can argue that almost every publicly traded company has some exposure to space, or space plays a role in that company’s ability to succeed,” says Chanin. “For us, it’s not about making nuanced arguments about how maybe a company could potentially benefit from space.”Differing ExposuresPercentage of portfolio in selected industries.Despite their differences, both funds share the same top holding, Trimble (TRMB), with an 8.6% weight in the ARK fund and a 5.2% weight in the Procure fund. The company is tapping into multiple space-related areas, offering software, data, and sensors for drones, as well as fleet management services for space construction and logistics.Procure’s space fund was launched in April 2019. It dipped 2% in 2020, while the S&P 500 returned 18.4%. Year to date, the Procure fund has gained 11.1%, beating the broader index by five percentage points.The ARK space fund finished its first trading day on Tuesday down 1%. The S&P 500 fell less than 1%.And although neither funds have exposure to space SPACs, investors can still own a piece of them by buying shares of their SPACs. Barron’s recently wrote positively about Rocket Labs, believing it’s the best option for growth investors looking for new space exposure. The company is already carrying payloads into space and has the ability to build and manage satellites.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3930851,"gmtCreate":1617195970758,"gmtModify":1635745987537,"authorId":3573341177962944,"author":{"id":3573341177962944,"idStr":"3573341177962944","authorId":3573341177962944,"name":"buckethead","avatar":"https://static.tigerbbs.com/fb0baba9e10b75fa4dc0ff143e54bbea","vip":1,"crmLevel":7,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":354490325,"type":1,"supId":0,"prevId":0,"content":"you're not alone","text":"you're not alone","html":"you're not alone"}],"langContent":"EN"},{"id":354406132,"gmtCreate":1617193634826,"gmtModify":1634522165750,"author":{"id":"3578292453388898","authorId":"3578292453388898","name":"Millionairek","avatar":"https://static.tigerbbs.com/b2a64a7c13de15ad56a0c627fc2e0dd9","vip":1,"crmLevel":6,"crmLevelSwitch":0,"idStr":"3578292453388898","authorIdStr":"3578292453388898"},"htmlText":"Netflix&nbsp;","listText":"Netflix&nbsp;","text":"Netflix","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/354406132","repostId":1126047060,"repostType":4,"repost":{"id":"1126047060","kind":"news","pubTimestamp":1617185695,"share":"https://www.laohu8.com/m/news/1126047060?lang=&edition=full","pubTime":"2021-03-31 18:14","market":"us","language":"en","title":"Why Cathie Wood’s Space ETF Has Some Unexpected Holdings","url":"https://stock-news.laohu8.com/highlight/detail?id=1126047060","media":"Barron's","summary":"The ARK Space Exploration & Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some surprises in the fund’s portfolio: Some popular firms in space-exploration related fields were not included, while other seemingly unrelated names–including half a dozen internet tech giants–make up a significant weight.That is because ARK’s space fund  isn’t limited to companies directly involved ","content":"<p>The ARK Space Exploration &amp; Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some surprises in the fund’s portfolio: Some popular firms in space-exploration related fields were not included, while other seemingly unrelated names–including half a dozen internet tech giants–make up a significant weight.</p><p>That is because ARK’s space fund (ticker: ARKX) isn’t limited to companies directly involved in the space business, but also other innovations that have indirectly enabled the space boom. The ETF owns Google parent Alphabet (ticker: GOOG), for example, because it’s a leader in artificial intelligence. NVIDIA (NVDA), another holding, manufactures computer chips that allow rockets to operate efficiently.</p><p>The fund’s second-largest position is another ARK product, the $548 million ARK 3D Printing ETF (PRNT). That’s because many rocket parts are 3D printed for reasons related to cost, weight, and durability, says Ren Leggi, client portfolio manager at ARK. To be sure, the 0.66% management fee of the ARK 3D Printing ETF is fully rebated back to ARKX investors. “We are not double dipping,” says Leggi, “You are not paying double-layer fees.”</p><p>The fund also holds companies that are well-positioned to benefit from the development in aerospace-related tech. E-commerce giants like Amazon.com (AMZN) and Alibaba (BABA) are included because they can save delivery costs and generate revenue from drones if that market matures and scales. Netflix (NFLX), another holding, could potentially unlock millions of new users as satellite broadband connects more people to the internet. “There are three billion people who do not have access to internet,” says Leggi. “Satellite connectivity opens up the market. It really is about anything above ground.”</p><p>Still, there is one glaring omission in the fund: It doesn’t hold any of the new pure-play space companies set to go public via mergers with special purpose acquisition companies, or SPACs.</p><p>Those options would include Rocket Lab USA and Astra, two launch service companies that are currently sending commercial payloads into low Earth orbit. The pair is merging with Vector Acquisition (VACQ) and Holicity (HOL), respectively. BlackSky and Spire Global, two earth imaging businesses, are merging with Osprey Technology Acquisition (SFWT) and NavSight (NSH), respectively.</p><p>Others include AST &amp; Science, which is merging with New Providence Acquisition (NPA). That company is putting up hundreds of satellites to provide mobile phone infrastructure. Momentus, along with Redwire, offer the infrastructure services supporting new commercial space players. Those two are merging with Stable Road Acquisition (SRAC) and Genesis Park Acquisition (GNPK), respectively.</p><p>The market capitalization of those seven companies is roughly $16 billion based on the number of shares outstanding for each after their SPAC mergers close. But none of those names are included in the ARK Space fund’s portfolio—at least not yet.</p><p>ARK is open to investing in SPACs if the merger target has already been identified, says Leggi, but they need to review more financial data than is typically provided in SPAC merger presentations.</p><p>High valuations have also caused ARK to wait on some names. “They fit our theme but from a valuation point, they don’t meet our hurdle rate for the next five years,” says Leggi, noting that the fund looks for companies that can provide investors with 15% annualized returns. “We will be patient and continue to track them. If we get an opportunity, we will leg into it. A lot of them are very interesting,” he adds.</p><p>ARK isn’t the only one hesitant to jump into space SPACs. The space fund’s rival, the $129 million Procure Space ETF (UFO), also doesn’t own any SPACs. Unlike the actively managed ARK ETF, the Procure fund tracks an underlying index with predetermined rules that prohibit investments in SPACs before the merger is complete.</p><p>“There is a tremendous risk to any SPAC,” Andrew Chanin, CEO of Procure ETFs, tells Barron’s. “That a target is announced and the deal doesn’t go through for a multitude of reasons. Then you are looking at a company that doesn’t have any space exposure other than a proposed target.”</p><p>The Procure ETF has added newly public stocks to its holdings shortly after the SPAC merger was completed, such as space tourism pioneer Virgin Galactic (SPCE).</p><p>The Procure ETF claims to be a “purer” play. More than 80% of its portfolio–per index mandate–has to be invested in companies whose majority revenues are derived from space-related businesses and activities. The remaining 20% are in diversified aerospace defense names such as Boeing (BA) and Lockheed Martin (LMT), which also generate a significant amount of revenue–albeit not the majority–from their space-related units.</p><p>“Anyone can argue that almost every publicly traded company has some exposure to space, or space plays a role in that company’s ability to succeed,” says Chanin. “For us, it’s not about making nuanced arguments about how maybe a company could potentially benefit from space.”</p><p><b>Differing Exposures</b></p><p>Percentage of portfolio in selected industries.</p><p><img src=\"https://static.tigerbbs.com/7610169c4e1c63baad57b034b647f2ef\" tg-width=\"1242\" tg-height=\"975\" referrerpolicy=\"no-referrer\">Despite their differences, both funds share the same top holding, Trimble (TRMB), with an 8.6% weight in the ARK fund and a 5.2% weight in the Procure fund. The company is tapping into multiple space-related areas, offering software, data, and sensors for drones, as well as fleet management services for space construction and logistics.</p><p>Procure’s space fund was launched in April 2019. It dipped 2% in 2020, while the S&amp;P 500 returned 18.4%. Year to date, the Procure fund has gained 11.1%, beating the broader index by five percentage points.</p><p>The ARK space fund finished its first trading day on Tuesday down 1%. The S&amp;P 500 fell less than 1%.</p><p>And although neither funds have exposure to space SPACs, investors can still own a piece of them by buying shares of their SPACs. Barron’s recently wrote positively about Rocket Labs, believing it’s the best option for growth investors looking for new space exposure. The company is already carrying payloads into space and has the ability to build and manage satellites.</p>","source":"lsy1610680873436","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Cathie Wood’s Space ETF Has Some Unexpected Holdings</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Cathie Wood’s Space ETF Has Some Unexpected Holdings\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-31 18:14 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/the-ark-space-etf-has-some-unexpected-holdings-51617150050?mod=hp_LEAD_1><strong>Barron's</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The ARK Space Exploration & Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some...</p>\n\n<a href=\"https://www.barrons.com/articles/the-ark-space-etf-has-some-unexpected-holdings-51617150050?mod=hp_LEAD_1\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/55e4b11e868aab2bd1399f8a1e0cd685","relate_stocks":{},"source_url":"https://www.barrons.com/articles/the-ark-space-etf-has-some-unexpected-holdings-51617150050?mod=hp_LEAD_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1126047060","content_text":"The ARK Space Exploration & Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some surprises in the fund’s portfolio: Some popular firms in space-exploration related fields were not included, while other seemingly unrelated names–including half a dozen internet tech giants–make up a significant weight.That is because ARK’s space fund (ticker: ARKX) isn’t limited to companies directly involved in the space business, but also other innovations that have indirectly enabled the space boom. The ETF owns Google parent Alphabet (ticker: GOOG), for example, because it’s a leader in artificial intelligence. NVIDIA (NVDA), another holding, manufactures computer chips that allow rockets to operate efficiently.The fund’s second-largest position is another ARK product, the $548 million ARK 3D Printing ETF (PRNT). That’s because many rocket parts are 3D printed for reasons related to cost, weight, and durability, says Ren Leggi, client portfolio manager at ARK. To be sure, the 0.66% management fee of the ARK 3D Printing ETF is fully rebated back to ARKX investors. “We are not double dipping,” says Leggi, “You are not paying double-layer fees.”The fund also holds companies that are well-positioned to benefit from the development in aerospace-related tech. E-commerce giants like Amazon.com (AMZN) and Alibaba (BABA) are included because they can save delivery costs and generate revenue from drones if that market matures and scales. Netflix (NFLX), another holding, could potentially unlock millions of new users as satellite broadband connects more people to the internet. “There are three billion people who do not have access to internet,” says Leggi. “Satellite connectivity opens up the market. It really is about anything above ground.”Still, there is one glaring omission in the fund: It doesn’t hold any of the new pure-play space companies set to go public via mergers with special purpose acquisition companies, or SPACs.Those options would include Rocket Lab USA and Astra, two launch service companies that are currently sending commercial payloads into low Earth orbit. The pair is merging with Vector Acquisition (VACQ) and Holicity (HOL), respectively. BlackSky and Spire Global, two earth imaging businesses, are merging with Osprey Technology Acquisition (SFWT) and NavSight (NSH), respectively.Others include AST & Science, which is merging with New Providence Acquisition (NPA). That company is putting up hundreds of satellites to provide mobile phone infrastructure. Momentus, along with Redwire, offer the infrastructure services supporting new commercial space players. Those two are merging with Stable Road Acquisition (SRAC) and Genesis Park Acquisition (GNPK), respectively.The market capitalization of those seven companies is roughly $16 billion based on the number of shares outstanding for each after their SPAC mergers close. But none of those names are included in the ARK Space fund’s portfolio—at least not yet.ARK is open to investing in SPACs if the merger target has already been identified, says Leggi, but they need to review more financial data than is typically provided in SPAC merger presentations.High valuations have also caused ARK to wait on some names. “They fit our theme but from a valuation point, they don’t meet our hurdle rate for the next five years,” says Leggi, noting that the fund looks for companies that can provide investors with 15% annualized returns. “We will be patient and continue to track them. If we get an opportunity, we will leg into it. A lot of them are very interesting,” he adds.ARK isn’t the only one hesitant to jump into space SPACs. The space fund’s rival, the $129 million Procure Space ETF (UFO), also doesn’t own any SPACs. Unlike the actively managed ARK ETF, the Procure fund tracks an underlying index with predetermined rules that prohibit investments in SPACs before the merger is complete.“There is a tremendous risk to any SPAC,” Andrew Chanin, CEO of Procure ETFs, tells Barron’s. “That a target is announced and the deal doesn’t go through for a multitude of reasons. Then you are looking at a company that doesn’t have any space exposure other than a proposed target.”The Procure ETF has added newly public stocks to its holdings shortly after the SPAC merger was completed, such as space tourism pioneer Virgin Galactic (SPCE).The Procure ETF claims to be a “purer” play. More than 80% of its portfolio–per index mandate–has to be invested in companies whose majority revenues are derived from space-related businesses and activities. The remaining 20% are in diversified aerospace defense names such as Boeing (BA) and Lockheed Martin (LMT), which also generate a significant amount of revenue–albeit not the majority–from their space-related units.“Anyone can argue that almost every publicly traded company has some exposure to space, or space plays a role in that company’s ability to succeed,” says Chanin. “For us, it’s not about making nuanced arguments about how maybe a company could potentially benefit from space.”Differing ExposuresPercentage of portfolio in selected industries.Despite their differences, both funds share the same top holding, Trimble (TRMB), with an 8.6% weight in the ARK fund and a 5.2% weight in the Procure fund. The company is tapping into multiple space-related areas, offering software, data, and sensors for drones, as well as fleet management services for space construction and logistics.Procure’s space fund was launched in April 2019. It dipped 2% in 2020, while the S&P 500 returned 18.4%. Year to date, the Procure fund has gained 11.1%, beating the broader index by five percentage points.The ARK space fund finished its first trading day on Tuesday down 1%. The S&P 500 fell less than 1%.And although neither funds have exposure to space SPACs, investors can still own a piece of them by buying shares of their SPACs. Barron’s recently wrote positively about Rocket Labs, believing it’s the best option for growth investors looking for new space exposure. The company is already carrying payloads into space and has the ability to build and manage satellites.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":354408713,"gmtCreate":1617193594332,"gmtModify":1634522166235,"author":{"id":"3573302017483188","authorId":"3573302017483188","name":"NicNic","avatar":"https://static.tigerbbs.com/8fbd8060ca43d86e45bac28030ead59e","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3573302017483188","authorIdStr":"3573302017483188"},"htmlText":"[开心]&nbsp;","listText":"[开心]&nbsp;","text":"[开心]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/354408713","repostId":1126047060,"repostType":4,"repost":{"id":"1126047060","kind":"news","pubTimestamp":1617185695,"share":"https://www.laohu8.com/m/news/1126047060?lang=&edition=full","pubTime":"2021-03-31 18:14","market":"us","language":"en","title":"Why Cathie Wood’s Space ETF Has Some Unexpected Holdings","url":"https://stock-news.laohu8.com/highlight/detail?id=1126047060","media":"Barron's","summary":"The ARK Space Exploration & Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some surprises in the fund’s portfolio: Some popular firms in space-exploration related fields were not included, while other seemingly unrelated names–including half a dozen internet tech giants–make up a significant weight.That is because ARK’s space fund  isn’t limited to companies directly involved ","content":"<p>The ARK Space Exploration &amp; Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some surprises in the fund’s portfolio: Some popular firms in space-exploration related fields were not included, while other seemingly unrelated names–including half a dozen internet tech giants–make up a significant weight.</p><p>That is because ARK’s space fund (ticker: ARKX) isn’t limited to companies directly involved in the space business, but also other innovations that have indirectly enabled the space boom. The ETF owns Google parent Alphabet (ticker: GOOG), for example, because it’s a leader in artificial intelligence. NVIDIA (NVDA), another holding, manufactures computer chips that allow rockets to operate efficiently.</p><p>The fund’s second-largest position is another ARK product, the $548 million ARK 3D Printing ETF (PRNT). That’s because many rocket parts are 3D printed for reasons related to cost, weight, and durability, says Ren Leggi, client portfolio manager at ARK. To be sure, the 0.66% management fee of the ARK 3D Printing ETF is fully rebated back to ARKX investors. “We are not double dipping,” says Leggi, “You are not paying double-layer fees.”</p><p>The fund also holds companies that are well-positioned to benefit from the development in aerospace-related tech. E-commerce giants like Amazon.com (AMZN) and Alibaba (BABA) are included because they can save delivery costs and generate revenue from drones if that market matures and scales. Netflix (NFLX), another holding, could potentially unlock millions of new users as satellite broadband connects more people to the internet. “There are three billion people who do not have access to internet,” says Leggi. “Satellite connectivity opens up the market. It really is about anything above ground.”</p><p>Still, there is one glaring omission in the fund: It doesn’t hold any of the new pure-play space companies set to go public via mergers with special purpose acquisition companies, or SPACs.</p><p>Those options would include Rocket Lab USA and Astra, two launch service companies that are currently sending commercial payloads into low Earth orbit. The pair is merging with Vector Acquisition (VACQ) and Holicity (HOL), respectively. BlackSky and Spire Global, two earth imaging businesses, are merging with Osprey Technology Acquisition (SFWT) and NavSight (NSH), respectively.</p><p>Others include AST &amp; Science, which is merging with New Providence Acquisition (NPA). That company is putting up hundreds of satellites to provide mobile phone infrastructure. Momentus, along with Redwire, offer the infrastructure services supporting new commercial space players. Those two are merging with Stable Road Acquisition (SRAC) and Genesis Park Acquisition (GNPK), respectively.</p><p>The market capitalization of those seven companies is roughly $16 billion based on the number of shares outstanding for each after their SPAC mergers close. But none of those names are included in the ARK Space fund’s portfolio—at least not yet.</p><p>ARK is open to investing in SPACs if the merger target has already been identified, says Leggi, but they need to review more financial data than is typically provided in SPAC merger presentations.</p><p>High valuations have also caused ARK to wait on some names. “They fit our theme but from a valuation point, they don’t meet our hurdle rate for the next five years,” says Leggi, noting that the fund looks for companies that can provide investors with 15% annualized returns. “We will be patient and continue to track them. If we get an opportunity, we will leg into it. A lot of them are very interesting,” he adds.</p><p>ARK isn’t the only one hesitant to jump into space SPACs. The space fund’s rival, the $129 million Procure Space ETF (UFO), also doesn’t own any SPACs. Unlike the actively managed ARK ETF, the Procure fund tracks an underlying index with predetermined rules that prohibit investments in SPACs before the merger is complete.</p><p>“There is a tremendous risk to any SPAC,” Andrew Chanin, CEO of Procure ETFs, tells Barron’s. “That a target is announced and the deal doesn’t go through for a multitude of reasons. Then you are looking at a company that doesn’t have any space exposure other than a proposed target.”</p><p>The Procure ETF has added newly public stocks to its holdings shortly after the SPAC merger was completed, such as space tourism pioneer Virgin Galactic (SPCE).</p><p>The Procure ETF claims to be a “purer” play. More than 80% of its portfolio–per index mandate–has to be invested in companies whose majority revenues are derived from space-related businesses and activities. The remaining 20% are in diversified aerospace defense names such as Boeing (BA) and Lockheed Martin (LMT), which also generate a significant amount of revenue–albeit not the majority–from their space-related units.</p><p>“Anyone can argue that almost every publicly traded company has some exposure to space, or space plays a role in that company’s ability to succeed,” says Chanin. “For us, it’s not about making nuanced arguments about how maybe a company could potentially benefit from space.”</p><p><b>Differing Exposures</b></p><p>Percentage of portfolio in selected industries.</p><p><img src=\"https://static.tigerbbs.com/7610169c4e1c63baad57b034b647f2ef\" tg-width=\"1242\" tg-height=\"975\" referrerpolicy=\"no-referrer\">Despite their differences, both funds share the same top holding, Trimble (TRMB), with an 8.6% weight in the ARK fund and a 5.2% weight in the Procure fund. The company is tapping into multiple space-related areas, offering software, data, and sensors for drones, as well as fleet management services for space construction and logistics.</p><p>Procure’s space fund was launched in April 2019. It dipped 2% in 2020, while the S&amp;P 500 returned 18.4%. Year to date, the Procure fund has gained 11.1%, beating the broader index by five percentage points.</p><p>The ARK space fund finished its first trading day on Tuesday down 1%. The S&amp;P 500 fell less than 1%.</p><p>And although neither funds have exposure to space SPACs, investors can still own a piece of them by buying shares of their SPACs. Barron’s recently wrote positively about Rocket Labs, believing it’s the best option for growth investors looking for new space exposure. The company is already carrying payloads into space and has the ability to build and manage satellites.</p>","source":"lsy1610680873436","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Cathie Wood’s Space ETF Has Some Unexpected Holdings</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Cathie Wood’s Space ETF Has Some Unexpected Holdings\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-31 18:14 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/the-ark-space-etf-has-some-unexpected-holdings-51617150050?mod=hp_LEAD_1><strong>Barron's</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The ARK Space Exploration & Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some...</p>\n\n<a href=\"https://www.barrons.com/articles/the-ark-space-etf-has-some-unexpected-holdings-51617150050?mod=hp_LEAD_1\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/55e4b11e868aab2bd1399f8a1e0cd685","relate_stocks":{},"source_url":"https://www.barrons.com/articles/the-ark-space-etf-has-some-unexpected-holdings-51617150050?mod=hp_LEAD_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1126047060","content_text":"The ARK Space Exploration & Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some surprises in the fund’s portfolio: Some popular firms in space-exploration related fields were not included, while other seemingly unrelated names–including half a dozen internet tech giants–make up a significant weight.That is because ARK’s space fund (ticker: ARKX) isn’t limited to companies directly involved in the space business, but also other innovations that have indirectly enabled the space boom. The ETF owns Google parent Alphabet (ticker: GOOG), for example, because it’s a leader in artificial intelligence. NVIDIA (NVDA), another holding, manufactures computer chips that allow rockets to operate efficiently.The fund’s second-largest position is another ARK product, the $548 million ARK 3D Printing ETF (PRNT). That’s because many rocket parts are 3D printed for reasons related to cost, weight, and durability, says Ren Leggi, client portfolio manager at ARK. To be sure, the 0.66% management fee of the ARK 3D Printing ETF is fully rebated back to ARKX investors. “We are not double dipping,” says Leggi, “You are not paying double-layer fees.”The fund also holds companies that are well-positioned to benefit from the development in aerospace-related tech. E-commerce giants like Amazon.com (AMZN) and Alibaba (BABA) are included because they can save delivery costs and generate revenue from drones if that market matures and scales. Netflix (NFLX), another holding, could potentially unlock millions of new users as satellite broadband connects more people to the internet. “There are three billion people who do not have access to internet,” says Leggi. “Satellite connectivity opens up the market. It really is about anything above ground.”Still, there is one glaring omission in the fund: It doesn’t hold any of the new pure-play space companies set to go public via mergers with special purpose acquisition companies, or SPACs.Those options would include Rocket Lab USA and Astra, two launch service companies that are currently sending commercial payloads into low Earth orbit. The pair is merging with Vector Acquisition (VACQ) and Holicity (HOL), respectively. BlackSky and Spire Global, two earth imaging businesses, are merging with Osprey Technology Acquisition (SFWT) and NavSight (NSH), respectively.Others include AST & Science, which is merging with New Providence Acquisition (NPA). That company is putting up hundreds of satellites to provide mobile phone infrastructure. Momentus, along with Redwire, offer the infrastructure services supporting new commercial space players. Those two are merging with Stable Road Acquisition (SRAC) and Genesis Park Acquisition (GNPK), respectively.The market capitalization of those seven companies is roughly $16 billion based on the number of shares outstanding for each after their SPAC mergers close. But none of those names are included in the ARK Space fund’s portfolio—at least not yet.ARK is open to investing in SPACs if the merger target has already been identified, says Leggi, but they need to review more financial data than is typically provided in SPAC merger presentations.High valuations have also caused ARK to wait on some names. “They fit our theme but from a valuation point, they don’t meet our hurdle rate for the next five years,” says Leggi, noting that the fund looks for companies that can provide investors with 15% annualized returns. “We will be patient and continue to track them. If we get an opportunity, we will leg into it. A lot of them are very interesting,” he adds.ARK isn’t the only one hesitant to jump into space SPACs. The space fund’s rival, the $129 million Procure Space ETF (UFO), also doesn’t own any SPACs. Unlike the actively managed ARK ETF, the Procure fund tracks an underlying index with predetermined rules that prohibit investments in SPACs before the merger is complete.“There is a tremendous risk to any SPAC,” Andrew Chanin, CEO of Procure ETFs, tells Barron’s. “That a target is announced and the deal doesn’t go through for a multitude of reasons. Then you are looking at a company that doesn’t have any space exposure other than a proposed target.”The Procure ETF has added newly public stocks to its holdings shortly after the SPAC merger was completed, such as space tourism pioneer Virgin Galactic (SPCE).The Procure ETF claims to be a “purer” play. More than 80% of its portfolio–per index mandate–has to be invested in companies whose majority revenues are derived from space-related businesses and activities. The remaining 20% are in diversified aerospace defense names such as Boeing (BA) and Lockheed Martin (LMT), which also generate a significant amount of revenue–albeit not the majority–from their space-related units.“Anyone can argue that almost every publicly traded company has some exposure to space, or space plays a role in that company’s ability to succeed,” says Chanin. “For us, it’s not about making nuanced arguments about how maybe a company could potentially benefit from space.”Differing ExposuresPercentage of portfolio in selected industries.Despite their differences, both funds share the same top holding, Trimble (TRMB), with an 8.6% weight in the ARK fund and a 5.2% weight in the Procure fund. The company is tapping into multiple space-related areas, offering software, data, and sensors for drones, as well as fleet management services for space construction and logistics.Procure’s space fund was launched in April 2019. It dipped 2% in 2020, while the S&P 500 returned 18.4%. Year to date, the Procure fund has gained 11.1%, beating the broader index by five percentage points.The ARK space fund finished its first trading day on Tuesday down 1%. The S&P 500 fell less than 1%.And although neither funds have exposure to space SPACs, investors can still own a piece of them by buying shares of their SPACs. Barron’s recently wrote positively about Rocket Labs, believing it’s the best option for growth investors looking for new space exposure. The company is already carrying payloads into space and has the ability to build and manage satellites.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3930600,"gmtCreate":1617193979457,"gmtModify":1635746003206,"authorId":3573302017483188,"author":{"id":3573302017483188,"idStr":"3573302017483188","authorId":3573302017483188,"name":"NicNic","avatar":"https://static.tigerbbs.com/8fbd8060ca43d86e45bac28030ead59e","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":354408713,"type":1,"supId":0,"prevId":0,"content":"[微笑]","text":"[微笑]","html":"[微笑]"}],"langContent":"CN"},{"id":354541093,"gmtCreate":1617191800012,"gmtModify":1617191933549,"author":{"id":"3568024136331742","authorId":"3568024136331742","name":"pakthedude","avatar":"https://static.tigerbbs.com/44a39c1d2d81353756d935bfebfebf9e","vip":1,"crmLevel":7,"crmLevelSwitch":0,"idStr":"3568024136331742","authorIdStr":"3568024136331742"},"htmlText":"Just like other ETF, there's some innovative stocks including some FANG (Amazon, Netflix and Google) and good EPS stocks to bring up the projection forward. Stocks related to&nbsp;Spacecraft, exploration, surveillance, research and defense R&amp;D may take some time to pick up. New start up company needs to be&nbsp;mature enough and could be&nbsp;shuffled in a later time. ARK Invest have great foresight. Trust in ARK Invest!","listText":"Just like other ETF, there's some innovative stocks including some FANG (Amazon, Netflix and Google) and good EPS stocks to bring up the projection forward. Stocks related to&nbsp;Spacecraft, exploration, surveillance, research and defense R&amp;D may take some time to pick up. New start up company needs to be&nbsp;mature enough and could be&nbsp;shuffled in a later time. ARK Invest have great foresight. Trust in ARK Invest!","text":"Just like other ETF, there's some innovative stocks including some FANG (Amazon, Netflix and Google) and good EPS stocks to bring up the projection forward. Stocks related to Spacecraft, exploration, surveillance, research and defense R&D may take some time to pick up. New start up company needs to be mature enough and could be shuffled in a later time. ARK Invest have great foresight. Trust in ARK Invest!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/354541093","repostId":1126047060,"repostType":4,"repost":{"id":"1126047060","kind":"news","pubTimestamp":1617185695,"share":"https://www.laohu8.com/m/news/1126047060?lang=&edition=full","pubTime":"2021-03-31 18:14","market":"us","language":"en","title":"Why Cathie Wood’s Space ETF Has Some Unexpected Holdings","url":"https://stock-news.laohu8.com/highlight/detail?id=1126047060","media":"Barron's","summary":"The ARK Space Exploration & Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some surprises in the fund’s portfolio: Some popular firms in space-exploration related fields were not included, while other seemingly unrelated names–including half a dozen internet tech giants–make up a significant weight.That is because ARK’s space fund  isn’t limited to companies directly involved ","content":"<p>The ARK Space Exploration &amp; Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some surprises in the fund’s portfolio: Some popular firms in space-exploration related fields were not included, while other seemingly unrelated names–including half a dozen internet tech giants–make up a significant weight.</p><p>That is because ARK’s space fund (ticker: ARKX) isn’t limited to companies directly involved in the space business, but also other innovations that have indirectly enabled the space boom. The ETF owns Google parent Alphabet (ticker: GOOG), for example, because it’s a leader in artificial intelligence. NVIDIA (NVDA), another holding, manufactures computer chips that allow rockets to operate efficiently.</p><p>The fund’s second-largest position is another ARK product, the $548 million ARK 3D Printing ETF (PRNT). That’s because many rocket parts are 3D printed for reasons related to cost, weight, and durability, says Ren Leggi, client portfolio manager at ARK. To be sure, the 0.66% management fee of the ARK 3D Printing ETF is fully rebated back to ARKX investors. “We are not double dipping,” says Leggi, “You are not paying double-layer fees.”</p><p>The fund also holds companies that are well-positioned to benefit from the development in aerospace-related tech. E-commerce giants like Amazon.com (AMZN) and Alibaba (BABA) are included because they can save delivery costs and generate revenue from drones if that market matures and scales. Netflix (NFLX), another holding, could potentially unlock millions of new users as satellite broadband connects more people to the internet. “There are three billion people who do not have access to internet,” says Leggi. “Satellite connectivity opens up the market. It really is about anything above ground.”</p><p>Still, there is one glaring omission in the fund: It doesn’t hold any of the new pure-play space companies set to go public via mergers with special purpose acquisition companies, or SPACs.</p><p>Those options would include Rocket Lab USA and Astra, two launch service companies that are currently sending commercial payloads into low Earth orbit. The pair is merging with Vector Acquisition (VACQ) and Holicity (HOL), respectively. BlackSky and Spire Global, two earth imaging businesses, are merging with Osprey Technology Acquisition (SFWT) and NavSight (NSH), respectively.</p><p>Others include AST &amp; Science, which is merging with New Providence Acquisition (NPA). That company is putting up hundreds of satellites to provide mobile phone infrastructure. Momentus, along with Redwire, offer the infrastructure services supporting new commercial space players. Those two are merging with Stable Road Acquisition (SRAC) and Genesis Park Acquisition (GNPK), respectively.</p><p>The market capitalization of those seven companies is roughly $16 billion based on the number of shares outstanding for each after their SPAC mergers close. But none of those names are included in the ARK Space fund’s portfolio—at least not yet.</p><p>ARK is open to investing in SPACs if the merger target has already been identified, says Leggi, but they need to review more financial data than is typically provided in SPAC merger presentations.</p><p>High valuations have also caused ARK to wait on some names. “They fit our theme but from a valuation point, they don’t meet our hurdle rate for the next five years,” says Leggi, noting that the fund looks for companies that can provide investors with 15% annualized returns. “We will be patient and continue to track them. If we get an opportunity, we will leg into it. A lot of them are very interesting,” he adds.</p><p>ARK isn’t the only one hesitant to jump into space SPACs. The space fund’s rival, the $129 million Procure Space ETF (UFO), also doesn’t own any SPACs. Unlike the actively managed ARK ETF, the Procure fund tracks an underlying index with predetermined rules that prohibit investments in SPACs before the merger is complete.</p><p>“There is a tremendous risk to any SPAC,” Andrew Chanin, CEO of Procure ETFs, tells Barron’s. “That a target is announced and the deal doesn’t go through for a multitude of reasons. Then you are looking at a company that doesn’t have any space exposure other than a proposed target.”</p><p>The Procure ETF has added newly public stocks to its holdings shortly after the SPAC merger was completed, such as space tourism pioneer Virgin Galactic (SPCE).</p><p>The Procure ETF claims to be a “purer” play. More than 80% of its portfolio–per index mandate–has to be invested in companies whose majority revenues are derived from space-related businesses and activities. The remaining 20% are in diversified aerospace defense names such as Boeing (BA) and Lockheed Martin (LMT), which also generate a significant amount of revenue–albeit not the majority–from their space-related units.</p><p>“Anyone can argue that almost every publicly traded company has some exposure to space, or space plays a role in that company’s ability to succeed,” says Chanin. “For us, it’s not about making nuanced arguments about how maybe a company could potentially benefit from space.”</p><p><b>Differing Exposures</b></p><p>Percentage of portfolio in selected industries.</p><p><img src=\"https://static.tigerbbs.com/7610169c4e1c63baad57b034b647f2ef\" tg-width=\"1242\" tg-height=\"975\" referrerpolicy=\"no-referrer\">Despite their differences, both funds share the same top holding, Trimble (TRMB), with an 8.6% weight in the ARK fund and a 5.2% weight in the Procure fund. The company is tapping into multiple space-related areas, offering software, data, and sensors for drones, as well as fleet management services for space construction and logistics.</p><p>Procure’s space fund was launched in April 2019. It dipped 2% in 2020, while the S&amp;P 500 returned 18.4%. Year to date, the Procure fund has gained 11.1%, beating the broader index by five percentage points.</p><p>The ARK space fund finished its first trading day on Tuesday down 1%. The S&amp;P 500 fell less than 1%.</p><p>And although neither funds have exposure to space SPACs, investors can still own a piece of them by buying shares of their SPACs. Barron’s recently wrote positively about Rocket Labs, believing it’s the best option for growth investors looking for new space exposure. The company is already carrying payloads into space and has the ability to build and manage satellites.</p>","source":"lsy1610680873436","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Cathie Wood’s Space ETF Has Some Unexpected Holdings</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Cathie Wood’s Space ETF Has Some Unexpected Holdings\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-31 18:14 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/the-ark-space-etf-has-some-unexpected-holdings-51617150050?mod=hp_LEAD_1><strong>Barron's</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The ARK Space Exploration & Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some...</p>\n\n<a href=\"https://www.barrons.com/articles/the-ark-space-etf-has-some-unexpected-holdings-51617150050?mod=hp_LEAD_1\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/55e4b11e868aab2bd1399f8a1e0cd685","relate_stocks":{},"source_url":"https://www.barrons.com/articles/the-ark-space-etf-has-some-unexpected-holdings-51617150050?mod=hp_LEAD_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1126047060","content_text":"The ARK Space Exploration & Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some surprises in the fund’s portfolio: Some popular firms in space-exploration related fields were not included, while other seemingly unrelated names–including half a dozen internet tech giants–make up a significant weight.That is because ARK’s space fund (ticker: ARKX) isn’t limited to companies directly involved in the space business, but also other innovations that have indirectly enabled the space boom. The ETF owns Google parent Alphabet (ticker: GOOG), for example, because it’s a leader in artificial intelligence. NVIDIA (NVDA), another holding, manufactures computer chips that allow rockets to operate efficiently.The fund’s second-largest position is another ARK product, the $548 million ARK 3D Printing ETF (PRNT). That’s because many rocket parts are 3D printed for reasons related to cost, weight, and durability, says Ren Leggi, client portfolio manager at ARK. To be sure, the 0.66% management fee of the ARK 3D Printing ETF is fully rebated back to ARKX investors. “We are not double dipping,” says Leggi, “You are not paying double-layer fees.”The fund also holds companies that are well-positioned to benefit from the development in aerospace-related tech. E-commerce giants like Amazon.com (AMZN) and Alibaba (BABA) are included because they can save delivery costs and generate revenue from drones if that market matures and scales. Netflix (NFLX), another holding, could potentially unlock millions of new users as satellite broadband connects more people to the internet. “There are three billion people who do not have access to internet,” says Leggi. “Satellite connectivity opens up the market. It really is about anything above ground.”Still, there is one glaring omission in the fund: It doesn’t hold any of the new pure-play space companies set to go public via mergers with special purpose acquisition companies, or SPACs.Those options would include Rocket Lab USA and Astra, two launch service companies that are currently sending commercial payloads into low Earth orbit. The pair is merging with Vector Acquisition (VACQ) and Holicity (HOL), respectively. BlackSky and Spire Global, two earth imaging businesses, are merging with Osprey Technology Acquisition (SFWT) and NavSight (NSH), respectively.Others include AST & Science, which is merging with New Providence Acquisition (NPA). That company is putting up hundreds of satellites to provide mobile phone infrastructure. Momentus, along with Redwire, offer the infrastructure services supporting new commercial space players. Those two are merging with Stable Road Acquisition (SRAC) and Genesis Park Acquisition (GNPK), respectively.The market capitalization of those seven companies is roughly $16 billion based on the number of shares outstanding for each after their SPAC mergers close. But none of those names are included in the ARK Space fund’s portfolio—at least not yet.ARK is open to investing in SPACs if the merger target has already been identified, says Leggi, but they need to review more financial data than is typically provided in SPAC merger presentations.High valuations have also caused ARK to wait on some names. “They fit our theme but from a valuation point, they don’t meet our hurdle rate for the next five years,” says Leggi, noting that the fund looks for companies that can provide investors with 15% annualized returns. “We will be patient and continue to track them. If we get an opportunity, we will leg into it. A lot of them are very interesting,” he adds.ARK isn’t the only one hesitant to jump into space SPACs. The space fund’s rival, the $129 million Procure Space ETF (UFO), also doesn’t own any SPACs. Unlike the actively managed ARK ETF, the Procure fund tracks an underlying index with predetermined rules that prohibit investments in SPACs before the merger is complete.“There is a tremendous risk to any SPAC,” Andrew Chanin, CEO of Procure ETFs, tells Barron’s. “That a target is announced and the deal doesn’t go through for a multitude of reasons. Then you are looking at a company that doesn’t have any space exposure other than a proposed target.”The Procure ETF has added newly public stocks to its holdings shortly after the SPAC merger was completed, such as space tourism pioneer Virgin Galactic (SPCE).The Procure ETF claims to be a “purer” play. More than 80% of its portfolio–per index mandate–has to be invested in companies whose majority revenues are derived from space-related businesses and activities. The remaining 20% are in diversified aerospace defense names such as Boeing (BA) and Lockheed Martin (LMT), which also generate a significant amount of revenue–albeit not the majority–from their space-related units.“Anyone can argue that almost every publicly traded company has some exposure to space, or space plays a role in that company’s ability to succeed,” says Chanin. “For us, it’s not about making nuanced arguments about how maybe a company could potentially benefit from space.”Differing ExposuresPercentage of portfolio in selected industries.Despite their differences, both funds share the same top holding, Trimble (TRMB), with an 8.6% weight in the ARK fund and a 5.2% weight in the Procure fund. The company is tapping into multiple space-related areas, offering software, data, and sensors for drones, as well as fleet management services for space construction and logistics.Procure’s space fund was launched in April 2019. It dipped 2% in 2020, while the S&P 500 returned 18.4%. Year to date, the Procure fund has gained 11.1%, beating the broader index by five percentage points.The ARK space fund finished its first trading day on Tuesday down 1%. The S&P 500 fell less than 1%.And although neither funds have exposure to space SPACs, investors can still own a piece of them by buying shares of their SPACs. Barron’s recently wrote positively about Rocket Labs, believing it’s the best option for growth investors looking for new space exposure. The company is already carrying payloads into space and has the ability to build and manage satellites.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3930434,"gmtCreate":1617192488213,"gmtModify":1635746013065,"authorId":3575277705944076,"author":{"id":3575277705944076,"idStr":"3575277705944076","authorId":3575277705944076,"name":"JustStonks","avatar":"https://static.tigerbbs.com/8a85f9246d3c1c5337dd21fec2ec401d","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":354541093,"type":1,"supId":0,"prevId":0,"content":"Agree. Investors that buy ETF or in this case, Ark Space ETF, are investing for the long term. 20years down the road, this could literally bring us to the MOON! Stocks price + me in the rocket.","text":"Agree. Investors that buy ETF or in this case, Ark Space ETF, are investing for the long term. 20years down the road, this could literally bring us to the MOON! Stocks price + me in the rocket.","html":"Agree. Investors that buy ETF or in this case, Ark Space ETF, are investing for the long term. 20years down the road, this could literally bring us to the MOON! Stocks price + me in the rocket."},{"id":3930516,"gmtCreate":1617193431406,"gmtModify":1635746007645,"authorId":3577012660758299,"author":{"id":3577012660758299,"idStr":"3577012660758299","authorId":3577012660758299,"name":"TraderJac","avatar":"https://static.tigerbbs.com/291c7ff3ca7266bca11f700fed643d49","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":354541093,"type":1,"supId":0,"prevId":0,"content":"Agreed","text":"Agreed","html":"Agreed"}],"langContent":"EN"},{"id":354540224,"gmtCreate":1617191562968,"gmtModify":1634522179509,"author":{"id":"3578983795474363","authorId":"3578983795474363","name":"DesmondChin","avatar":"https://static.tigerbbs.com/b90cb6b6a6c328ac8d02a829e5e7c835","vip":1,"hat":"https://static.tigerbbs.com/46b6808e1ba3716fb9c53339adffa3c5","crmLevel":3,"crmLevelSwitch":0,"idStr":"3578983795474363","authorIdStr":"3578983795474363"},"htmlText":"Another way to gain fees....","listText":"Another way to gain fees....","text":"Another way to gain fees....","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/354540224","repostId":1126047060,"repostType":4,"repost":{"id":"1126047060","kind":"news","pubTimestamp":1617185695,"share":"https://www.laohu8.com/m/news/1126047060?lang=&edition=full","pubTime":"2021-03-31 18:14","market":"us","language":"en","title":"Why Cathie Wood’s Space ETF Has Some Unexpected Holdings","url":"https://stock-news.laohu8.com/highlight/detail?id=1126047060","media":"Barron's","summary":"The ARK Space Exploration & Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some surprises in the fund’s portfolio: Some popular firms in space-exploration related fields were not included, while other seemingly unrelated names–including half a dozen internet tech giants–make up a significant weight.That is because ARK’s space fund  isn’t limited to companies directly involved ","content":"<p>The ARK Space Exploration &amp; Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some surprises in the fund’s portfolio: Some popular firms in space-exploration related fields were not included, while other seemingly unrelated names–including half a dozen internet tech giants–make up a significant weight.</p><p>That is because ARK’s space fund (ticker: ARKX) isn’t limited to companies directly involved in the space business, but also other innovations that have indirectly enabled the space boom. The ETF owns Google parent Alphabet (ticker: GOOG), for example, because it’s a leader in artificial intelligence. NVIDIA (NVDA), another holding, manufactures computer chips that allow rockets to operate efficiently.</p><p>The fund’s second-largest position is another ARK product, the $548 million ARK 3D Printing ETF (PRNT). That’s because many rocket parts are 3D printed for reasons related to cost, weight, and durability, says Ren Leggi, client portfolio manager at ARK. To be sure, the 0.66% management fee of the ARK 3D Printing ETF is fully rebated back to ARKX investors. “We are not double dipping,” says Leggi, “You are not paying double-layer fees.”</p><p>The fund also holds companies that are well-positioned to benefit from the development in aerospace-related tech. E-commerce giants like Amazon.com (AMZN) and Alibaba (BABA) are included because they can save delivery costs and generate revenue from drones if that market matures and scales. Netflix (NFLX), another holding, could potentially unlock millions of new users as satellite broadband connects more people to the internet. “There are three billion people who do not have access to internet,” says Leggi. “Satellite connectivity opens up the market. It really is about anything above ground.”</p><p>Still, there is one glaring omission in the fund: It doesn’t hold any of the new pure-play space companies set to go public via mergers with special purpose acquisition companies, or SPACs.</p><p>Those options would include Rocket Lab USA and Astra, two launch service companies that are currently sending commercial payloads into low Earth orbit. The pair is merging with Vector Acquisition (VACQ) and Holicity (HOL), respectively. BlackSky and Spire Global, two earth imaging businesses, are merging with Osprey Technology Acquisition (SFWT) and NavSight (NSH), respectively.</p><p>Others include AST &amp; Science, which is merging with New Providence Acquisition (NPA). That company is putting up hundreds of satellites to provide mobile phone infrastructure. Momentus, along with Redwire, offer the infrastructure services supporting new commercial space players. Those two are merging with Stable Road Acquisition (SRAC) and Genesis Park Acquisition (GNPK), respectively.</p><p>The market capitalization of those seven companies is roughly $16 billion based on the number of shares outstanding for each after their SPAC mergers close. But none of those names are included in the ARK Space fund’s portfolio—at least not yet.</p><p>ARK is open to investing in SPACs if the merger target has already been identified, says Leggi, but they need to review more financial data than is typically provided in SPAC merger presentations.</p><p>High valuations have also caused ARK to wait on some names. “They fit our theme but from a valuation point, they don’t meet our hurdle rate for the next five years,” says Leggi, noting that the fund looks for companies that can provide investors with 15% annualized returns. “We will be patient and continue to track them. If we get an opportunity, we will leg into it. A lot of them are very interesting,” he adds.</p><p>ARK isn’t the only one hesitant to jump into space SPACs. The space fund’s rival, the $129 million Procure Space ETF (UFO), also doesn’t own any SPACs. Unlike the actively managed ARK ETF, the Procure fund tracks an underlying index with predetermined rules that prohibit investments in SPACs before the merger is complete.</p><p>“There is a tremendous risk to any SPAC,” Andrew Chanin, CEO of Procure ETFs, tells Barron’s. “That a target is announced and the deal doesn’t go through for a multitude of reasons. Then you are looking at a company that doesn’t have any space exposure other than a proposed target.”</p><p>The Procure ETF has added newly public stocks to its holdings shortly after the SPAC merger was completed, such as space tourism pioneer Virgin Galactic (SPCE).</p><p>The Procure ETF claims to be a “purer” play. More than 80% of its portfolio–per index mandate–has to be invested in companies whose majority revenues are derived from space-related businesses and activities. The remaining 20% are in diversified aerospace defense names such as Boeing (BA) and Lockheed Martin (LMT), which also generate a significant amount of revenue–albeit not the majority–from their space-related units.</p><p>“Anyone can argue that almost every publicly traded company has some exposure to space, or space plays a role in that company’s ability to succeed,” says Chanin. “For us, it’s not about making nuanced arguments about how maybe a company could potentially benefit from space.”</p><p><b>Differing Exposures</b></p><p>Percentage of portfolio in selected industries.</p><p><img src=\"https://static.tigerbbs.com/7610169c4e1c63baad57b034b647f2ef\" tg-width=\"1242\" tg-height=\"975\" referrerpolicy=\"no-referrer\">Despite their differences, both funds share the same top holding, Trimble (TRMB), with an 8.6% weight in the ARK fund and a 5.2% weight in the Procure fund. The company is tapping into multiple space-related areas, offering software, data, and sensors for drones, as well as fleet management services for space construction and logistics.</p><p>Procure’s space fund was launched in April 2019. It dipped 2% in 2020, while the S&amp;P 500 returned 18.4%. Year to date, the Procure fund has gained 11.1%, beating the broader index by five percentage points.</p><p>The ARK space fund finished its first trading day on Tuesday down 1%. The S&amp;P 500 fell less than 1%.</p><p>And although neither funds have exposure to space SPACs, investors can still own a piece of them by buying shares of their SPACs. Barron’s recently wrote positively about Rocket Labs, believing it’s the best option for growth investors looking for new space exposure. The company is already carrying payloads into space and has the ability to build and manage satellites.</p>","source":"lsy1610680873436","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Cathie Wood’s Space ETF Has Some Unexpected Holdings</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Cathie Wood’s Space ETF Has Some Unexpected Holdings\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-31 18:14 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/the-ark-space-etf-has-some-unexpected-holdings-51617150050?mod=hp_LEAD_1><strong>Barron's</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The ARK Space Exploration & Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some...</p>\n\n<a href=\"https://www.barrons.com/articles/the-ark-space-etf-has-some-unexpected-holdings-51617150050?mod=hp_LEAD_1\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/55e4b11e868aab2bd1399f8a1e0cd685","relate_stocks":{},"source_url":"https://www.barrons.com/articles/the-ark-space-etf-has-some-unexpected-holdings-51617150050?mod=hp_LEAD_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1126047060","content_text":"The ARK Space Exploration & Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some surprises in the fund’s portfolio: Some popular firms in space-exploration related fields were not included, while other seemingly unrelated names–including half a dozen internet tech giants–make up a significant weight.That is because ARK’s space fund (ticker: ARKX) isn’t limited to companies directly involved in the space business, but also other innovations that have indirectly enabled the space boom. The ETF owns Google parent Alphabet (ticker: GOOG), for example, because it’s a leader in artificial intelligence. NVIDIA (NVDA), another holding, manufactures computer chips that allow rockets to operate efficiently.The fund’s second-largest position is another ARK product, the $548 million ARK 3D Printing ETF (PRNT). That’s because many rocket parts are 3D printed for reasons related to cost, weight, and durability, says Ren Leggi, client portfolio manager at ARK. To be sure, the 0.66% management fee of the ARK 3D Printing ETF is fully rebated back to ARKX investors. “We are not double dipping,” says Leggi, “You are not paying double-layer fees.”The fund also holds companies that are well-positioned to benefit from the development in aerospace-related tech. E-commerce giants like Amazon.com (AMZN) and Alibaba (BABA) are included because they can save delivery costs and generate revenue from drones if that market matures and scales. Netflix (NFLX), another holding, could potentially unlock millions of new users as satellite broadband connects more people to the internet. “There are three billion people who do not have access to internet,” says Leggi. “Satellite connectivity opens up the market. It really is about anything above ground.”Still, there is one glaring omission in the fund: It doesn’t hold any of the new pure-play space companies set to go public via mergers with special purpose acquisition companies, or SPACs.Those options would include Rocket Lab USA and Astra, two launch service companies that are currently sending commercial payloads into low Earth orbit. The pair is merging with Vector Acquisition (VACQ) and Holicity (HOL), respectively. BlackSky and Spire Global, two earth imaging businesses, are merging with Osprey Technology Acquisition (SFWT) and NavSight (NSH), respectively.Others include AST & Science, which is merging with New Providence Acquisition (NPA). That company is putting up hundreds of satellites to provide mobile phone infrastructure. Momentus, along with Redwire, offer the infrastructure services supporting new commercial space players. Those two are merging with Stable Road Acquisition (SRAC) and Genesis Park Acquisition (GNPK), respectively.The market capitalization of those seven companies is roughly $16 billion based on the number of shares outstanding for each after their SPAC mergers close. But none of those names are included in the ARK Space fund’s portfolio—at least not yet.ARK is open to investing in SPACs if the merger target has already been identified, says Leggi, but they need to review more financial data than is typically provided in SPAC merger presentations.High valuations have also caused ARK to wait on some names. “They fit our theme but from a valuation point, they don’t meet our hurdle rate for the next five years,” says Leggi, noting that the fund looks for companies that can provide investors with 15% annualized returns. “We will be patient and continue to track them. If we get an opportunity, we will leg into it. A lot of them are very interesting,” he adds.ARK isn’t the only one hesitant to jump into space SPACs. The space fund’s rival, the $129 million Procure Space ETF (UFO), also doesn’t own any SPACs. Unlike the actively managed ARK ETF, the Procure fund tracks an underlying index with predetermined rules that prohibit investments in SPACs before the merger is complete.“There is a tremendous risk to any SPAC,” Andrew Chanin, CEO of Procure ETFs, tells Barron’s. “That a target is announced and the deal doesn’t go through for a multitude of reasons. Then you are looking at a company that doesn’t have any space exposure other than a proposed target.”The Procure ETF has added newly public stocks to its holdings shortly after the SPAC merger was completed, such as space tourism pioneer Virgin Galactic (SPCE).The Procure ETF claims to be a “purer” play. More than 80% of its portfolio–per index mandate–has to be invested in companies whose majority revenues are derived from space-related businesses and activities. The remaining 20% are in diversified aerospace defense names such as Boeing (BA) and Lockheed Martin (LMT), which also generate a significant amount of revenue–albeit not the majority–from their space-related units.“Anyone can argue that almost every publicly traded company has some exposure to space, or space plays a role in that company’s ability to succeed,” says Chanin. “For us, it’s not about making nuanced arguments about how maybe a company could potentially benefit from space.”Differing ExposuresPercentage of portfolio in selected industries.Despite their differences, both funds share the same top holding, Trimble (TRMB), with an 8.6% weight in the ARK fund and a 5.2% weight in the Procure fund. The company is tapping into multiple space-related areas, offering software, data, and sensors for drones, as well as fleet management services for space construction and logistics.Procure’s space fund was launched in April 2019. It dipped 2% in 2020, while the S&P 500 returned 18.4%. Year to date, the Procure fund has gained 11.1%, beating the broader index by five percentage points.The ARK space fund finished its first trading day on Tuesday down 1%. The S&P 500 fell less than 1%.And although neither funds have exposure to space SPACs, investors can still own a piece of them by buying shares of their SPACs. Barron’s recently wrote positively about Rocket Labs, believing it’s the best option for growth investors looking for new space exposure. The company is already carrying payloads into space and has the ability to build and manage satellites.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":354556444,"gmtCreate":1617191173388,"gmtModify":1634522181487,"author":{"id":"3574399983193226","authorId":"3574399983193226","name":"MFME","avatar":"https://static.tigerbbs.com/9c7d2325aa9eb91869c4c7144270a75a","vip":1,"crmLevel":7,"crmLevelSwitch":0,"idStr":"3574399983193226","authorIdStr":"3574399983193226"},"htmlText":"ARK buy EHANG...","listText":"ARK buy EHANG...","text":"ARK buy EHANG...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/354556444","repostId":1126047060,"repostType":4,"repost":{"id":"1126047060","kind":"news","pubTimestamp":1617185695,"share":"https://www.laohu8.com/m/news/1126047060?lang=&edition=full","pubTime":"2021-03-31 18:14","market":"us","language":"en","title":"Why Cathie Wood’s Space ETF Has Some Unexpected Holdings","url":"https://stock-news.laohu8.com/highlight/detail?id=1126047060","media":"Barron's","summary":"The ARK Space Exploration & Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some surprises in the fund’s portfolio: Some popular firms in space-exploration related fields were not included, while other seemingly unrelated names–including half a dozen internet tech giants–make up a significant weight.That is because ARK’s space fund  isn’t limited to companies directly involved ","content":"<p>The ARK Space Exploration &amp; Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some surprises in the fund’s portfolio: Some popular firms in space-exploration related fields were not included, while other seemingly unrelated names–including half a dozen internet tech giants–make up a significant weight.</p><p>That is because ARK’s space fund (ticker: ARKX) isn’t limited to companies directly involved in the space business, but also other innovations that have indirectly enabled the space boom. The ETF owns Google parent Alphabet (ticker: GOOG), for example, because it’s a leader in artificial intelligence. NVIDIA (NVDA), another holding, manufactures computer chips that allow rockets to operate efficiently.</p><p>The fund’s second-largest position is another ARK product, the $548 million ARK 3D Printing ETF (PRNT). That’s because many rocket parts are 3D printed for reasons related to cost, weight, and durability, says Ren Leggi, client portfolio manager at ARK. To be sure, the 0.66% management fee of the ARK 3D Printing ETF is fully rebated back to ARKX investors. “We are not double dipping,” says Leggi, “You are not paying double-layer fees.”</p><p>The fund also holds companies that are well-positioned to benefit from the development in aerospace-related tech. E-commerce giants like Amazon.com (AMZN) and Alibaba (BABA) are included because they can save delivery costs and generate revenue from drones if that market matures and scales. Netflix (NFLX), another holding, could potentially unlock millions of new users as satellite broadband connects more people to the internet. “There are three billion people who do not have access to internet,” says Leggi. “Satellite connectivity opens up the market. It really is about anything above ground.”</p><p>Still, there is one glaring omission in the fund: It doesn’t hold any of the new pure-play space companies set to go public via mergers with special purpose acquisition companies, or SPACs.</p><p>Those options would include Rocket Lab USA and Astra, two launch service companies that are currently sending commercial payloads into low Earth orbit. The pair is merging with Vector Acquisition (VACQ) and Holicity (HOL), respectively. BlackSky and Spire Global, two earth imaging businesses, are merging with Osprey Technology Acquisition (SFWT) and NavSight (NSH), respectively.</p><p>Others include AST &amp; Science, which is merging with New Providence Acquisition (NPA). That company is putting up hundreds of satellites to provide mobile phone infrastructure. Momentus, along with Redwire, offer the infrastructure services supporting new commercial space players. Those two are merging with Stable Road Acquisition (SRAC) and Genesis Park Acquisition (GNPK), respectively.</p><p>The market capitalization of those seven companies is roughly $16 billion based on the number of shares outstanding for each after their SPAC mergers close. But none of those names are included in the ARK Space fund’s portfolio—at least not yet.</p><p>ARK is open to investing in SPACs if the merger target has already been identified, says Leggi, but they need to review more financial data than is typically provided in SPAC merger presentations.</p><p>High valuations have also caused ARK to wait on some names. “They fit our theme but from a valuation point, they don’t meet our hurdle rate for the next five years,” says Leggi, noting that the fund looks for companies that can provide investors with 15% annualized returns. “We will be patient and continue to track them. If we get an opportunity, we will leg into it. A lot of them are very interesting,” he adds.</p><p>ARK isn’t the only one hesitant to jump into space SPACs. The space fund’s rival, the $129 million Procure Space ETF (UFO), also doesn’t own any SPACs. Unlike the actively managed ARK ETF, the Procure fund tracks an underlying index with predetermined rules that prohibit investments in SPACs before the merger is complete.</p><p>“There is a tremendous risk to any SPAC,” Andrew Chanin, CEO of Procure ETFs, tells Barron’s. “That a target is announced and the deal doesn’t go through for a multitude of reasons. Then you are looking at a company that doesn’t have any space exposure other than a proposed target.”</p><p>The Procure ETF has added newly public stocks to its holdings shortly after the SPAC merger was completed, such as space tourism pioneer Virgin Galactic (SPCE).</p><p>The Procure ETF claims to be a “purer” play. More than 80% of its portfolio–per index mandate–has to be invested in companies whose majority revenues are derived from space-related businesses and activities. The remaining 20% are in diversified aerospace defense names such as Boeing (BA) and Lockheed Martin (LMT), which also generate a significant amount of revenue–albeit not the majority–from their space-related units.</p><p>“Anyone can argue that almost every publicly traded company has some exposure to space, or space plays a role in that company’s ability to succeed,” says Chanin. “For us, it’s not about making nuanced arguments about how maybe a company could potentially benefit from space.”</p><p><b>Differing Exposures</b></p><p>Percentage of portfolio in selected industries.</p><p><img src=\"https://static.tigerbbs.com/7610169c4e1c63baad57b034b647f2ef\" tg-width=\"1242\" tg-height=\"975\" referrerpolicy=\"no-referrer\">Despite their differences, both funds share the same top holding, Trimble (TRMB), with an 8.6% weight in the ARK fund and a 5.2% weight in the Procure fund. The company is tapping into multiple space-related areas, offering software, data, and sensors for drones, as well as fleet management services for space construction and logistics.</p><p>Procure’s space fund was launched in April 2019. It dipped 2% in 2020, while the S&amp;P 500 returned 18.4%. Year to date, the Procure fund has gained 11.1%, beating the broader index by five percentage points.</p><p>The ARK space fund finished its first trading day on Tuesday down 1%. The S&amp;P 500 fell less than 1%.</p><p>And although neither funds have exposure to space SPACs, investors can still own a piece of them by buying shares of their SPACs. Barron’s recently wrote positively about Rocket Labs, believing it’s the best option for growth investors looking for new space exposure. The company is already carrying payloads into space and has the ability to build and manage satellites.</p>","source":"lsy1610680873436","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Cathie Wood’s Space ETF Has Some Unexpected Holdings</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Cathie Wood’s Space ETF Has Some Unexpected Holdings\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-31 18:14 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/the-ark-space-etf-has-some-unexpected-holdings-51617150050?mod=hp_LEAD_1><strong>Barron's</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The ARK Space Exploration & Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some...</p>\n\n<a href=\"https://www.barrons.com/articles/the-ark-space-etf-has-some-unexpected-holdings-51617150050?mod=hp_LEAD_1\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/55e4b11e868aab2bd1399f8a1e0cd685","relate_stocks":{},"source_url":"https://www.barrons.com/articles/the-ark-space-etf-has-some-unexpected-holdings-51617150050?mod=hp_LEAD_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1126047060","content_text":"The ARK Space Exploration & Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some surprises in the fund’s portfolio: Some popular firms in space-exploration related fields were not included, while other seemingly unrelated names–including half a dozen internet tech giants–make up a significant weight.That is because ARK’s space fund (ticker: ARKX) isn’t limited to companies directly involved in the space business, but also other innovations that have indirectly enabled the space boom. The ETF owns Google parent Alphabet (ticker: GOOG), for example, because it’s a leader in artificial intelligence. NVIDIA (NVDA), another holding, manufactures computer chips that allow rockets to operate efficiently.The fund’s second-largest position is another ARK product, the $548 million ARK 3D Printing ETF (PRNT). That’s because many rocket parts are 3D printed for reasons related to cost, weight, and durability, says Ren Leggi, client portfolio manager at ARK. To be sure, the 0.66% management fee of the ARK 3D Printing ETF is fully rebated back to ARKX investors. “We are not double dipping,” says Leggi, “You are not paying double-layer fees.”The fund also holds companies that are well-positioned to benefit from the development in aerospace-related tech. E-commerce giants like Amazon.com (AMZN) and Alibaba (BABA) are included because they can save delivery costs and generate revenue from drones if that market matures and scales. Netflix (NFLX), another holding, could potentially unlock millions of new users as satellite broadband connects more people to the internet. “There are three billion people who do not have access to internet,” says Leggi. “Satellite connectivity opens up the market. It really is about anything above ground.”Still, there is one glaring omission in the fund: It doesn’t hold any of the new pure-play space companies set to go public via mergers with special purpose acquisition companies, or SPACs.Those options would include Rocket Lab USA and Astra, two launch service companies that are currently sending commercial payloads into low Earth orbit. The pair is merging with Vector Acquisition (VACQ) and Holicity (HOL), respectively. BlackSky and Spire Global, two earth imaging businesses, are merging with Osprey Technology Acquisition (SFWT) and NavSight (NSH), respectively.Others include AST & Science, which is merging with New Providence Acquisition (NPA). That company is putting up hundreds of satellites to provide mobile phone infrastructure. Momentus, along with Redwire, offer the infrastructure services supporting new commercial space players. Those two are merging with Stable Road Acquisition (SRAC) and Genesis Park Acquisition (GNPK), respectively.The market capitalization of those seven companies is roughly $16 billion based on the number of shares outstanding for each after their SPAC mergers close. But none of those names are included in the ARK Space fund’s portfolio—at least not yet.ARK is open to investing in SPACs if the merger target has already been identified, says Leggi, but they need to review more financial data than is typically provided in SPAC merger presentations.High valuations have also caused ARK to wait on some names. “They fit our theme but from a valuation point, they don’t meet our hurdle rate for the next five years,” says Leggi, noting that the fund looks for companies that can provide investors with 15% annualized returns. “We will be patient and continue to track them. If we get an opportunity, we will leg into it. A lot of them are very interesting,” he adds.ARK isn’t the only one hesitant to jump into space SPACs. The space fund’s rival, the $129 million Procure Space ETF (UFO), also doesn’t own any SPACs. Unlike the actively managed ARK ETF, the Procure fund tracks an underlying index with predetermined rules that prohibit investments in SPACs before the merger is complete.“There is a tremendous risk to any SPAC,” Andrew Chanin, CEO of Procure ETFs, tells Barron’s. “That a target is announced and the deal doesn’t go through for a multitude of reasons. Then you are looking at a company that doesn’t have any space exposure other than a proposed target.”The Procure ETF has added newly public stocks to its holdings shortly after the SPAC merger was completed, such as space tourism pioneer Virgin Galactic (SPCE).The Procure ETF claims to be a “purer” play. More than 80% of its portfolio–per index mandate–has to be invested in companies whose majority revenues are derived from space-related businesses and activities. The remaining 20% are in diversified aerospace defense names such as Boeing (BA) and Lockheed Martin (LMT), which also generate a significant amount of revenue–albeit not the majority–from their space-related units.“Anyone can argue that almost every publicly traded company has some exposure to space, or space plays a role in that company’s ability to succeed,” says Chanin. “For us, it’s not about making nuanced arguments about how maybe a company could potentially benefit from space.”Differing ExposuresPercentage of portfolio in selected industries.Despite their differences, both funds share the same top holding, Trimble (TRMB), with an 8.6% weight in the ARK fund and a 5.2% weight in the Procure fund. The company is tapping into multiple space-related areas, offering software, data, and sensors for drones, as well as fleet management services for space construction and logistics.Procure’s space fund was launched in April 2019. It dipped 2% in 2020, while the S&P 500 returned 18.4%. Year to date, the Procure fund has gained 11.1%, beating the broader index by five percentage points.The ARK space fund finished its first trading day on Tuesday down 1%. The S&P 500 fell less than 1%.And although neither funds have exposure to space SPACs, investors can still own a piece of them by buying shares of their SPACs. Barron’s recently wrote positively about Rocket Labs, believing it’s the best option for growth investors looking for new space exposure. The company is already carrying payloads into space and has the ability to build and manage satellites.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3930369,"gmtCreate":1617191934640,"gmtModify":1635746017404,"authorId":3575277705944076,"author":{"id":3575277705944076,"idStr":"3575277705944076","authorId":3575277705944076,"name":"JustStonks","avatar":"https://static.tigerbbs.com/8a85f9246d3c1c5337dd21fec2ec401d","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":354556444,"type":1,"supId":0,"prevId":0,"content":"Havent buy right? I think is speculation. But hopefully they buy EH! ","text":"Havent buy right? I think is speculation. But hopefully they buy EH! ","html":"Havent buy right? I think is speculation. But hopefully they buy EH! "}],"langContent":"EN"},{"id":354529378,"gmtCreate":1617190281194,"gmtModify":1634522185535,"author":{"id":"3561968672800218","authorId":"3561968672800218","name":"Yuyu37","avatar":"https://static.tigerbbs.com/ec5f43710340fa5d467d1e7a6647dbcf","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"3561968672800218","authorIdStr":"3561968672800218"},"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/354529378","repostId":1126047060,"repostType":4,"repost":{"id":"1126047060","kind":"news","pubTimestamp":1617185695,"share":"https://www.laohu8.com/m/news/1126047060?lang=&edition=full","pubTime":"2021-03-31 18:14","market":"us","language":"en","title":"Why Cathie Wood’s Space ETF Has Some Unexpected Holdings","url":"https://stock-news.laohu8.com/highlight/detail?id=1126047060","media":"Barron's","summary":"The ARK Space Exploration & Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some surprises in the fund’s portfolio: Some popular firms in space-exploration related fields were not included, while other seemingly unrelated names–including half a dozen internet tech giants–make up a significant weight.That is because ARK’s space fund  isn’t limited to companies directly involved ","content":"<p>The ARK Space Exploration &amp; Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some surprises in the fund’s portfolio: Some popular firms in space-exploration related fields were not included, while other seemingly unrelated names–including half a dozen internet tech giants–make up a significant weight.</p><p>That is because ARK’s space fund (ticker: ARKX) isn’t limited to companies directly involved in the space business, but also other innovations that have indirectly enabled the space boom. The ETF owns Google parent Alphabet (ticker: GOOG), for example, because it’s a leader in artificial intelligence. NVIDIA (NVDA), another holding, manufactures computer chips that allow rockets to operate efficiently.</p><p>The fund’s second-largest position is another ARK product, the $548 million ARK 3D Printing ETF (PRNT). That’s because many rocket parts are 3D printed for reasons related to cost, weight, and durability, says Ren Leggi, client portfolio manager at ARK. To be sure, the 0.66% management fee of the ARK 3D Printing ETF is fully rebated back to ARKX investors. “We are not double dipping,” says Leggi, “You are not paying double-layer fees.”</p><p>The fund also holds companies that are well-positioned to benefit from the development in aerospace-related tech. E-commerce giants like Amazon.com (AMZN) and Alibaba (BABA) are included because they can save delivery costs and generate revenue from drones if that market matures and scales. Netflix (NFLX), another holding, could potentially unlock millions of new users as satellite broadband connects more people to the internet. “There are three billion people who do not have access to internet,” says Leggi. “Satellite connectivity opens up the market. It really is about anything above ground.”</p><p>Still, there is one glaring omission in the fund: It doesn’t hold any of the new pure-play space companies set to go public via mergers with special purpose acquisition companies, or SPACs.</p><p>Those options would include Rocket Lab USA and Astra, two launch service companies that are currently sending commercial payloads into low Earth orbit. The pair is merging with Vector Acquisition (VACQ) and Holicity (HOL), respectively. BlackSky and Spire Global, two earth imaging businesses, are merging with Osprey Technology Acquisition (SFWT) and NavSight (NSH), respectively.</p><p>Others include AST &amp; Science, which is merging with New Providence Acquisition (NPA). That company is putting up hundreds of satellites to provide mobile phone infrastructure. Momentus, along with Redwire, offer the infrastructure services supporting new commercial space players. Those two are merging with Stable Road Acquisition (SRAC) and Genesis Park Acquisition (GNPK), respectively.</p><p>The market capitalization of those seven companies is roughly $16 billion based on the number of shares outstanding for each after their SPAC mergers close. But none of those names are included in the ARK Space fund’s portfolio—at least not yet.</p><p>ARK is open to investing in SPACs if the merger target has already been identified, says Leggi, but they need to review more financial data than is typically provided in SPAC merger presentations.</p><p>High valuations have also caused ARK to wait on some names. “They fit our theme but from a valuation point, they don’t meet our hurdle rate for the next five years,” says Leggi, noting that the fund looks for companies that can provide investors with 15% annualized returns. “We will be patient and continue to track them. If we get an opportunity, we will leg into it. A lot of them are very interesting,” he adds.</p><p>ARK isn’t the only one hesitant to jump into space SPACs. The space fund’s rival, the $129 million Procure Space ETF (UFO), also doesn’t own any SPACs. Unlike the actively managed ARK ETF, the Procure fund tracks an underlying index with predetermined rules that prohibit investments in SPACs before the merger is complete.</p><p>“There is a tremendous risk to any SPAC,” Andrew Chanin, CEO of Procure ETFs, tells Barron’s. “That a target is announced and the deal doesn’t go through for a multitude of reasons. Then you are looking at a company that doesn’t have any space exposure other than a proposed target.”</p><p>The Procure ETF has added newly public stocks to its holdings shortly after the SPAC merger was completed, such as space tourism pioneer Virgin Galactic (SPCE).</p><p>The Procure ETF claims to be a “purer” play. More than 80% of its portfolio–per index mandate–has to be invested in companies whose majority revenues are derived from space-related businesses and activities. The remaining 20% are in diversified aerospace defense names such as Boeing (BA) and Lockheed Martin (LMT), which also generate a significant amount of revenue–albeit not the majority–from their space-related units.</p><p>“Anyone can argue that almost every publicly traded company has some exposure to space, or space plays a role in that company’s ability to succeed,” says Chanin. “For us, it’s not about making nuanced arguments about how maybe a company could potentially benefit from space.”</p><p><b>Differing Exposures</b></p><p>Percentage of portfolio in selected industries.</p><p><img src=\"https://static.tigerbbs.com/7610169c4e1c63baad57b034b647f2ef\" tg-width=\"1242\" tg-height=\"975\" referrerpolicy=\"no-referrer\">Despite their differences, both funds share the same top holding, Trimble (TRMB), with an 8.6% weight in the ARK fund and a 5.2% weight in the Procure fund. The company is tapping into multiple space-related areas, offering software, data, and sensors for drones, as well as fleet management services for space construction and logistics.</p><p>Procure’s space fund was launched in April 2019. It dipped 2% in 2020, while the S&amp;P 500 returned 18.4%. Year to date, the Procure fund has gained 11.1%, beating the broader index by five percentage points.</p><p>The ARK space fund finished its first trading day on Tuesday down 1%. The S&amp;P 500 fell less than 1%.</p><p>And although neither funds have exposure to space SPACs, investors can still own a piece of them by buying shares of their SPACs. Barron’s recently wrote positively about Rocket Labs, believing it’s the best option for growth investors looking for new space exposure. The company is already carrying payloads into space and has the ability to build and manage satellites.</p>","source":"lsy1610680873436","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Cathie Wood’s Space ETF Has Some Unexpected Holdings</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Cathie Wood’s Space ETF Has Some Unexpected Holdings\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-31 18:14 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/the-ark-space-etf-has-some-unexpected-holdings-51617150050?mod=hp_LEAD_1><strong>Barron's</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The ARK Space Exploration & Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some...</p>\n\n<a href=\"https://www.barrons.com/articles/the-ark-space-etf-has-some-unexpected-holdings-51617150050?mod=hp_LEAD_1\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/55e4b11e868aab2bd1399f8a1e0cd685","relate_stocks":{},"source_url":"https://www.barrons.com/articles/the-ark-space-etf-has-some-unexpected-holdings-51617150050?mod=hp_LEAD_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1126047060","content_text":"The ARK Space Exploration & Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some surprises in the fund’s portfolio: Some popular firms in space-exploration related fields were not included, while other seemingly unrelated names–including half a dozen internet tech giants–make up a significant weight.That is because ARK’s space fund (ticker: ARKX) isn’t limited to companies directly involved in the space business, but also other innovations that have indirectly enabled the space boom. The ETF owns Google parent Alphabet (ticker: GOOG), for example, because it’s a leader in artificial intelligence. NVIDIA (NVDA), another holding, manufactures computer chips that allow rockets to operate efficiently.The fund’s second-largest position is another ARK product, the $548 million ARK 3D Printing ETF (PRNT). That’s because many rocket parts are 3D printed for reasons related to cost, weight, and durability, says Ren Leggi, client portfolio manager at ARK. To be sure, the 0.66% management fee of the ARK 3D Printing ETF is fully rebated back to ARKX investors. “We are not double dipping,” says Leggi, “You are not paying double-layer fees.”The fund also holds companies that are well-positioned to benefit from the development in aerospace-related tech. E-commerce giants like Amazon.com (AMZN) and Alibaba (BABA) are included because they can save delivery costs and generate revenue from drones if that market matures and scales. Netflix (NFLX), another holding, could potentially unlock millions of new users as satellite broadband connects more people to the internet. “There are three billion people who do not have access to internet,” says Leggi. “Satellite connectivity opens up the market. It really is about anything above ground.”Still, there is one glaring omission in the fund: It doesn’t hold any of the new pure-play space companies set to go public via mergers with special purpose acquisition companies, or SPACs.Those options would include Rocket Lab USA and Astra, two launch service companies that are currently sending commercial payloads into low Earth orbit. The pair is merging with Vector Acquisition (VACQ) and Holicity (HOL), respectively. BlackSky and Spire Global, two earth imaging businesses, are merging with Osprey Technology Acquisition (SFWT) and NavSight (NSH), respectively.Others include AST & Science, which is merging with New Providence Acquisition (NPA). That company is putting up hundreds of satellites to provide mobile phone infrastructure. Momentus, along with Redwire, offer the infrastructure services supporting new commercial space players. Those two are merging with Stable Road Acquisition (SRAC) and Genesis Park Acquisition (GNPK), respectively.The market capitalization of those seven companies is roughly $16 billion based on the number of shares outstanding for each after their SPAC mergers close. But none of those names are included in the ARK Space fund’s portfolio—at least not yet.ARK is open to investing in SPACs if the merger target has already been identified, says Leggi, but they need to review more financial data than is typically provided in SPAC merger presentations.High valuations have also caused ARK to wait on some names. “They fit our theme but from a valuation point, they don’t meet our hurdle rate for the next five years,” says Leggi, noting that the fund looks for companies that can provide investors with 15% annualized returns. “We will be patient and continue to track them. If we get an opportunity, we will leg into it. A lot of them are very interesting,” he adds.ARK isn’t the only one hesitant to jump into space SPACs. The space fund’s rival, the $129 million Procure Space ETF (UFO), also doesn’t own any SPACs. Unlike the actively managed ARK ETF, the Procure fund tracks an underlying index with predetermined rules that prohibit investments in SPACs before the merger is complete.“There is a tremendous risk to any SPAC,” Andrew Chanin, CEO of Procure ETFs, tells Barron’s. “That a target is announced and the deal doesn’t go through for a multitude of reasons. Then you are looking at a company that doesn’t have any space exposure other than a proposed target.”The Procure ETF has added newly public stocks to its holdings shortly after the SPAC merger was completed, such as space tourism pioneer Virgin Galactic (SPCE).The Procure ETF claims to be a “purer” play. More than 80% of its portfolio–per index mandate–has to be invested in companies whose majority revenues are derived from space-related businesses and activities. The remaining 20% are in diversified aerospace defense names such as Boeing (BA) and Lockheed Martin (LMT), which also generate a significant amount of revenue–albeit not the majority–from their space-related units.“Anyone can argue that almost every publicly traded company has some exposure to space, or space plays a role in that company’s ability to succeed,” says Chanin. “For us, it’s not about making nuanced arguments about how maybe a company could potentially benefit from space.”Differing ExposuresPercentage of portfolio in selected industries.Despite their differences, both funds share the same top holding, Trimble (TRMB), with an 8.6% weight in the ARK fund and a 5.2% weight in the Procure fund. The company is tapping into multiple space-related areas, offering software, data, and sensors for drones, as well as fleet management services for space construction and logistics.Procure’s space fund was launched in April 2019. It dipped 2% in 2020, while the S&P 500 returned 18.4%. Year to date, the Procure fund has gained 11.1%, beating the broader index by five percentage points.The ARK space fund finished its first trading day on Tuesday down 1%. The S&P 500 fell less than 1%.And although neither funds have exposure to space SPACs, investors can still own a piece of them by buying shares of their SPACs. Barron’s recently wrote positively about Rocket Labs, believing it’s the best option for growth investors looking for new space exposure. The company is already carrying payloads into space and has the ability to build and manage satellites.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":354563831,"gmtCreate":1617189260423,"gmtModify":1634522190280,"author":{"id":"3570750402462573","authorId":"3570750402462573","name":"HyperCat","avatar":"https://static.tigerbbs.com/46d306d099586785cb11da80598e0c9e","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3570750402462573","authorIdStr":"3570750402462573"},"htmlText":"What is going on? Space ETF?","listText":"What is going on? Space ETF?","text":"What is going on? Space ETF?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/354563831","repostId":1126047060,"repostType":4,"repost":{"id":"1126047060","kind":"news","pubTimestamp":1617185695,"share":"https://www.laohu8.com/m/news/1126047060?lang=&edition=full","pubTime":"2021-03-31 18:14","market":"us","language":"en","title":"Why Cathie Wood’s Space ETF Has Some Unexpected Holdings","url":"https://stock-news.laohu8.com/highlight/detail?id=1126047060","media":"Barron's","summary":"The ARK Space Exploration & Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some surprises in the fund’s portfolio: Some popular firms in space-exploration related fields were not included, while other seemingly unrelated names–including half a dozen internet tech giants–make up a significant weight.That is because ARK’s space fund  isn’t limited to companies directly involved ","content":"<p>The ARK Space Exploration &amp; Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some surprises in the fund’s portfolio: Some popular firms in space-exploration related fields were not included, while other seemingly unrelated names–including half a dozen internet tech giants–make up a significant weight.</p><p>That is because ARK’s space fund (ticker: ARKX) isn’t limited to companies directly involved in the space business, but also other innovations that have indirectly enabled the space boom. The ETF owns Google parent Alphabet (ticker: GOOG), for example, because it’s a leader in artificial intelligence. NVIDIA (NVDA), another holding, manufactures computer chips that allow rockets to operate efficiently.</p><p>The fund’s second-largest position is another ARK product, the $548 million ARK 3D Printing ETF (PRNT). That’s because many rocket parts are 3D printed for reasons related to cost, weight, and durability, says Ren Leggi, client portfolio manager at ARK. To be sure, the 0.66% management fee of the ARK 3D Printing ETF is fully rebated back to ARKX investors. “We are not double dipping,” says Leggi, “You are not paying double-layer fees.”</p><p>The fund also holds companies that are well-positioned to benefit from the development in aerospace-related tech. E-commerce giants like Amazon.com (AMZN) and Alibaba (BABA) are included because they can save delivery costs and generate revenue from drones if that market matures and scales. Netflix (NFLX), another holding, could potentially unlock millions of new users as satellite broadband connects more people to the internet. “There are three billion people who do not have access to internet,” says Leggi. “Satellite connectivity opens up the market. It really is about anything above ground.”</p><p>Still, there is one glaring omission in the fund: It doesn’t hold any of the new pure-play space companies set to go public via mergers with special purpose acquisition companies, or SPACs.</p><p>Those options would include Rocket Lab USA and Astra, two launch service companies that are currently sending commercial payloads into low Earth orbit. The pair is merging with Vector Acquisition (VACQ) and Holicity (HOL), respectively. BlackSky and Spire Global, two earth imaging businesses, are merging with Osprey Technology Acquisition (SFWT) and NavSight (NSH), respectively.</p><p>Others include AST &amp; Science, which is merging with New Providence Acquisition (NPA). That company is putting up hundreds of satellites to provide mobile phone infrastructure. Momentus, along with Redwire, offer the infrastructure services supporting new commercial space players. Those two are merging with Stable Road Acquisition (SRAC) and Genesis Park Acquisition (GNPK), respectively.</p><p>The market capitalization of those seven companies is roughly $16 billion based on the number of shares outstanding for each after their SPAC mergers close. But none of those names are included in the ARK Space fund’s portfolio—at least not yet.</p><p>ARK is open to investing in SPACs if the merger target has already been identified, says Leggi, but they need to review more financial data than is typically provided in SPAC merger presentations.</p><p>High valuations have also caused ARK to wait on some names. “They fit our theme but from a valuation point, they don’t meet our hurdle rate for the next five years,” says Leggi, noting that the fund looks for companies that can provide investors with 15% annualized returns. “We will be patient and continue to track them. If we get an opportunity, we will leg into it. A lot of them are very interesting,” he adds.</p><p>ARK isn’t the only one hesitant to jump into space SPACs. The space fund’s rival, the $129 million Procure Space ETF (UFO), also doesn’t own any SPACs. Unlike the actively managed ARK ETF, the Procure fund tracks an underlying index with predetermined rules that prohibit investments in SPACs before the merger is complete.</p><p>“There is a tremendous risk to any SPAC,” Andrew Chanin, CEO of Procure ETFs, tells Barron’s. “That a target is announced and the deal doesn’t go through for a multitude of reasons. Then you are looking at a company that doesn’t have any space exposure other than a proposed target.”</p><p>The Procure ETF has added newly public stocks to its holdings shortly after the SPAC merger was completed, such as space tourism pioneer Virgin Galactic (SPCE).</p><p>The Procure ETF claims to be a “purer” play. More than 80% of its portfolio–per index mandate–has to be invested in companies whose majority revenues are derived from space-related businesses and activities. The remaining 20% are in diversified aerospace defense names such as Boeing (BA) and Lockheed Martin (LMT), which also generate a significant amount of revenue–albeit not the majority–from their space-related units.</p><p>“Anyone can argue that almost every publicly traded company has some exposure to space, or space plays a role in that company’s ability to succeed,” says Chanin. “For us, it’s not about making nuanced arguments about how maybe a company could potentially benefit from space.”</p><p><b>Differing Exposures</b></p><p>Percentage of portfolio in selected industries.</p><p><img src=\"https://static.tigerbbs.com/7610169c4e1c63baad57b034b647f2ef\" tg-width=\"1242\" tg-height=\"975\" referrerpolicy=\"no-referrer\">Despite their differences, both funds share the same top holding, Trimble (TRMB), with an 8.6% weight in the ARK fund and a 5.2% weight in the Procure fund. The company is tapping into multiple space-related areas, offering software, data, and sensors for drones, as well as fleet management services for space construction and logistics.</p><p>Procure’s space fund was launched in April 2019. It dipped 2% in 2020, while the S&amp;P 500 returned 18.4%. Year to date, the Procure fund has gained 11.1%, beating the broader index by five percentage points.</p><p>The ARK space fund finished its first trading day on Tuesday down 1%. The S&amp;P 500 fell less than 1%.</p><p>And although neither funds have exposure to space SPACs, investors can still own a piece of them by buying shares of their SPACs. Barron’s recently wrote positively about Rocket Labs, believing it’s the best option for growth investors looking for new space exposure. The company is already carrying payloads into space and has the ability to build and manage satellites.</p>","source":"lsy1610680873436","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Cathie Wood’s Space ETF Has Some Unexpected Holdings</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Cathie Wood’s Space ETF Has Some Unexpected Holdings\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-31 18:14 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/the-ark-space-etf-has-some-unexpected-holdings-51617150050?mod=hp_LEAD_1><strong>Barron's</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The ARK Space Exploration & Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some...</p>\n\n<a href=\"https://www.barrons.com/articles/the-ark-space-etf-has-some-unexpected-holdings-51617150050?mod=hp_LEAD_1\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/55e4b11e868aab2bd1399f8a1e0cd685","relate_stocks":{},"source_url":"https://www.barrons.com/articles/the-ark-space-etf-has-some-unexpected-holdings-51617150050?mod=hp_LEAD_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1126047060","content_text":"The ARK Space Exploration & Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some surprises in the fund’s portfolio: Some popular firms in space-exploration related fields were not included, while other seemingly unrelated names–including half a dozen internet tech giants–make up a significant weight.That is because ARK’s space fund (ticker: ARKX) isn’t limited to companies directly involved in the space business, but also other innovations that have indirectly enabled the space boom. The ETF owns Google parent Alphabet (ticker: GOOG), for example, because it’s a leader in artificial intelligence. NVIDIA (NVDA), another holding, manufactures computer chips that allow rockets to operate efficiently.The fund’s second-largest position is another ARK product, the $548 million ARK 3D Printing ETF (PRNT). That’s because many rocket parts are 3D printed for reasons related to cost, weight, and durability, says Ren Leggi, client portfolio manager at ARK. To be sure, the 0.66% management fee of the ARK 3D Printing ETF is fully rebated back to ARKX investors. “We are not double dipping,” says Leggi, “You are not paying double-layer fees.”The fund also holds companies that are well-positioned to benefit from the development in aerospace-related tech. E-commerce giants like Amazon.com (AMZN) and Alibaba (BABA) are included because they can save delivery costs and generate revenue from drones if that market matures and scales. Netflix (NFLX), another holding, could potentially unlock millions of new users as satellite broadband connects more people to the internet. “There are three billion people who do not have access to internet,” says Leggi. “Satellite connectivity opens up the market. It really is about anything above ground.”Still, there is one glaring omission in the fund: It doesn’t hold any of the new pure-play space companies set to go public via mergers with special purpose acquisition companies, or SPACs.Those options would include Rocket Lab USA and Astra, two launch service companies that are currently sending commercial payloads into low Earth orbit. The pair is merging with Vector Acquisition (VACQ) and Holicity (HOL), respectively. BlackSky and Spire Global, two earth imaging businesses, are merging with Osprey Technology Acquisition (SFWT) and NavSight (NSH), respectively.Others include AST & Science, which is merging with New Providence Acquisition (NPA). That company is putting up hundreds of satellites to provide mobile phone infrastructure. Momentus, along with Redwire, offer the infrastructure services supporting new commercial space players. Those two are merging with Stable Road Acquisition (SRAC) and Genesis Park Acquisition (GNPK), respectively.The market capitalization of those seven companies is roughly $16 billion based on the number of shares outstanding for each after their SPAC mergers close. But none of those names are included in the ARK Space fund’s portfolio—at least not yet.ARK is open to investing in SPACs if the merger target has already been identified, says Leggi, but they need to review more financial data than is typically provided in SPAC merger presentations.High valuations have also caused ARK to wait on some names. “They fit our theme but from a valuation point, they don’t meet our hurdle rate for the next five years,” says Leggi, noting that the fund looks for companies that can provide investors with 15% annualized returns. “We will be patient and continue to track them. If we get an opportunity, we will leg into it. A lot of them are very interesting,” he adds.ARK isn’t the only one hesitant to jump into space SPACs. The space fund’s rival, the $129 million Procure Space ETF (UFO), also doesn’t own any SPACs. Unlike the actively managed ARK ETF, the Procure fund tracks an underlying index with predetermined rules that prohibit investments in SPACs before the merger is complete.“There is a tremendous risk to any SPAC,” Andrew Chanin, CEO of Procure ETFs, tells Barron’s. “That a target is announced and the deal doesn’t go through for a multitude of reasons. Then you are looking at a company that doesn’t have any space exposure other than a proposed target.”The Procure ETF has added newly public stocks to its holdings shortly after the SPAC merger was completed, such as space tourism pioneer Virgin Galactic (SPCE).The Procure ETF claims to be a “purer” play. More than 80% of its portfolio–per index mandate–has to be invested in companies whose majority revenues are derived from space-related businesses and activities. The remaining 20% are in diversified aerospace defense names such as Boeing (BA) and Lockheed Martin (LMT), which also generate a significant amount of revenue–albeit not the majority–from their space-related units.“Anyone can argue that almost every publicly traded company has some exposure to space, or space plays a role in that company’s ability to succeed,” says Chanin. “For us, it’s not about making nuanced arguments about how maybe a company could potentially benefit from space.”Differing ExposuresPercentage of portfolio in selected industries.Despite their differences, both funds share the same top holding, Trimble (TRMB), with an 8.6% weight in the ARK fund and a 5.2% weight in the Procure fund. The company is tapping into multiple space-related areas, offering software, data, and sensors for drones, as well as fleet management services for space construction and logistics.Procure’s space fund was launched in April 2019. It dipped 2% in 2020, while the S&P 500 returned 18.4%. Year to date, the Procure fund has gained 11.1%, beating the broader index by five percentage points.The ARK space fund finished its first trading day on Tuesday down 1%. The S&P 500 fell less than 1%.And although neither funds have exposure to space SPACs, investors can still own a piece of them by buying shares of their SPACs. Barron’s recently wrote positively about Rocket Labs, believing it’s the best option for growth investors looking for new space exposure. The company is already carrying payloads into space and has the ability to build and manage satellites.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":354587465,"gmtCreate":1617188962957,"gmtModify":1634522192678,"author":{"id":"3548734971517314","authorId":"3548734971517314","name":"Mkoh","avatar":"https://static.tigerbbs.com/c6226aeb6486c19c00455145eb533f98","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3548734971517314","authorIdStr":"3548734971517314"},"htmlText":"Another way for her to collect 75 basis point of fees","listText":"Another way for her to collect 75 basis point of fees","text":"Another way for her to collect 75 basis point of fees","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/354587465","repostId":1126047060,"repostType":4,"repost":{"id":"1126047060","kind":"news","pubTimestamp":1617185695,"share":"https://www.laohu8.com/m/news/1126047060?lang=&edition=full","pubTime":"2021-03-31 18:14","market":"us","language":"en","title":"Why Cathie Wood’s Space ETF Has Some Unexpected Holdings","url":"https://stock-news.laohu8.com/highlight/detail?id=1126047060","media":"Barron's","summary":"The ARK Space Exploration & Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some surprises in the fund’s portfolio: Some popular firms in space-exploration related fields were not included, while other seemingly unrelated names–including half a dozen internet tech giants–make up a significant weight.That is because ARK’s space fund  isn’t limited to companies directly involved ","content":"<p>The ARK Space Exploration &amp; Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some surprises in the fund’s portfolio: Some popular firms in space-exploration related fields were not included, while other seemingly unrelated names–including half a dozen internet tech giants–make up a significant weight.</p><p>That is because ARK’s space fund (ticker: ARKX) isn’t limited to companies directly involved in the space business, but also other innovations that have indirectly enabled the space boom. The ETF owns Google parent Alphabet (ticker: GOOG), for example, because it’s a leader in artificial intelligence. NVIDIA (NVDA), another holding, manufactures computer chips that allow rockets to operate efficiently.</p><p>The fund’s second-largest position is another ARK product, the $548 million ARK 3D Printing ETF (PRNT). That’s because many rocket parts are 3D printed for reasons related to cost, weight, and durability, says Ren Leggi, client portfolio manager at ARK. To be sure, the 0.66% management fee of the ARK 3D Printing ETF is fully rebated back to ARKX investors. “We are not double dipping,” says Leggi, “You are not paying double-layer fees.”</p><p>The fund also holds companies that are well-positioned to benefit from the development in aerospace-related tech. E-commerce giants like Amazon.com (AMZN) and Alibaba (BABA) are included because they can save delivery costs and generate revenue from drones if that market matures and scales. Netflix (NFLX), another holding, could potentially unlock millions of new users as satellite broadband connects more people to the internet. “There are three billion people who do not have access to internet,” says Leggi. “Satellite connectivity opens up the market. It really is about anything above ground.”</p><p>Still, there is one glaring omission in the fund: It doesn’t hold any of the new pure-play space companies set to go public via mergers with special purpose acquisition companies, or SPACs.</p><p>Those options would include Rocket Lab USA and Astra, two launch service companies that are currently sending commercial payloads into low Earth orbit. The pair is merging with Vector Acquisition (VACQ) and Holicity (HOL), respectively. BlackSky and Spire Global, two earth imaging businesses, are merging with Osprey Technology Acquisition (SFWT) and NavSight (NSH), respectively.</p><p>Others include AST &amp; Science, which is merging with New Providence Acquisition (NPA). That company is putting up hundreds of satellites to provide mobile phone infrastructure. Momentus, along with Redwire, offer the infrastructure services supporting new commercial space players. Those two are merging with Stable Road Acquisition (SRAC) and Genesis Park Acquisition (GNPK), respectively.</p><p>The market capitalization of those seven companies is roughly $16 billion based on the number of shares outstanding for each after their SPAC mergers close. But none of those names are included in the ARK Space fund’s portfolio—at least not yet.</p><p>ARK is open to investing in SPACs if the merger target has already been identified, says Leggi, but they need to review more financial data than is typically provided in SPAC merger presentations.</p><p>High valuations have also caused ARK to wait on some names. “They fit our theme but from a valuation point, they don’t meet our hurdle rate for the next five years,” says Leggi, noting that the fund looks for companies that can provide investors with 15% annualized returns. “We will be patient and continue to track them. If we get an opportunity, we will leg into it. A lot of them are very interesting,” he adds.</p><p>ARK isn’t the only one hesitant to jump into space SPACs. The space fund’s rival, the $129 million Procure Space ETF (UFO), also doesn’t own any SPACs. Unlike the actively managed ARK ETF, the Procure fund tracks an underlying index with predetermined rules that prohibit investments in SPACs before the merger is complete.</p><p>“There is a tremendous risk to any SPAC,” Andrew Chanin, CEO of Procure ETFs, tells Barron’s. “That a target is announced and the deal doesn’t go through for a multitude of reasons. Then you are looking at a company that doesn’t have any space exposure other than a proposed target.”</p><p>The Procure ETF has added newly public stocks to its holdings shortly after the SPAC merger was completed, such as space tourism pioneer Virgin Galactic (SPCE).</p><p>The Procure ETF claims to be a “purer” play. More than 80% of its portfolio–per index mandate–has to be invested in companies whose majority revenues are derived from space-related businesses and activities. The remaining 20% are in diversified aerospace defense names such as Boeing (BA) and Lockheed Martin (LMT), which also generate a significant amount of revenue–albeit not the majority–from their space-related units.</p><p>“Anyone can argue that almost every publicly traded company has some exposure to space, or space plays a role in that company’s ability to succeed,” says Chanin. “For us, it’s not about making nuanced arguments about how maybe a company could potentially benefit from space.”</p><p><b>Differing Exposures</b></p><p>Percentage of portfolio in selected industries.</p><p><img src=\"https://static.tigerbbs.com/7610169c4e1c63baad57b034b647f2ef\" tg-width=\"1242\" tg-height=\"975\" referrerpolicy=\"no-referrer\">Despite their differences, both funds share the same top holding, Trimble (TRMB), with an 8.6% weight in the ARK fund and a 5.2% weight in the Procure fund. The company is tapping into multiple space-related areas, offering software, data, and sensors for drones, as well as fleet management services for space construction and logistics.</p><p>Procure’s space fund was launched in April 2019. It dipped 2% in 2020, while the S&amp;P 500 returned 18.4%. Year to date, the Procure fund has gained 11.1%, beating the broader index by five percentage points.</p><p>The ARK space fund finished its first trading day on Tuesday down 1%. The S&amp;P 500 fell less than 1%.</p><p>And although neither funds have exposure to space SPACs, investors can still own a piece of them by buying shares of their SPACs. Barron’s recently wrote positively about Rocket Labs, believing it’s the best option for growth investors looking for new space exposure. The company is already carrying payloads into space and has the ability to build and manage satellites.</p>","source":"lsy1610680873436","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Cathie Wood’s Space ETF Has Some Unexpected Holdings</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Cathie Wood’s Space ETF Has Some Unexpected Holdings\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-31 18:14 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/the-ark-space-etf-has-some-unexpected-holdings-51617150050?mod=hp_LEAD_1><strong>Barron's</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The ARK Space Exploration & Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some...</p>\n\n<a href=\"https://www.barrons.com/articles/the-ark-space-etf-has-some-unexpected-holdings-51617150050?mod=hp_LEAD_1\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/55e4b11e868aab2bd1399f8a1e0cd685","relate_stocks":{},"source_url":"https://www.barrons.com/articles/the-ark-space-etf-has-some-unexpected-holdings-51617150050?mod=hp_LEAD_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1126047060","content_text":"The ARK Space Exploration & Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some surprises in the fund’s portfolio: Some popular firms in space-exploration related fields were not included, while other seemingly unrelated names–including half a dozen internet tech giants–make up a significant weight.That is because ARK’s space fund (ticker: ARKX) isn’t limited to companies directly involved in the space business, but also other innovations that have indirectly enabled the space boom. The ETF owns Google parent Alphabet (ticker: GOOG), for example, because it’s a leader in artificial intelligence. NVIDIA (NVDA), another holding, manufactures computer chips that allow rockets to operate efficiently.The fund’s second-largest position is another ARK product, the $548 million ARK 3D Printing ETF (PRNT). That’s because many rocket parts are 3D printed for reasons related to cost, weight, and durability, says Ren Leggi, client portfolio manager at ARK. To be sure, the 0.66% management fee of the ARK 3D Printing ETF is fully rebated back to ARKX investors. “We are not double dipping,” says Leggi, “You are not paying double-layer fees.”The fund also holds companies that are well-positioned to benefit from the development in aerospace-related tech. E-commerce giants like Amazon.com (AMZN) and Alibaba (BABA) are included because they can save delivery costs and generate revenue from drones if that market matures and scales. Netflix (NFLX), another holding, could potentially unlock millions of new users as satellite broadband connects more people to the internet. “There are three billion people who do not have access to internet,” says Leggi. “Satellite connectivity opens up the market. It really is about anything above ground.”Still, there is one glaring omission in the fund: It doesn’t hold any of the new pure-play space companies set to go public via mergers with special purpose acquisition companies, or SPACs.Those options would include Rocket Lab USA and Astra, two launch service companies that are currently sending commercial payloads into low Earth orbit. The pair is merging with Vector Acquisition (VACQ) and Holicity (HOL), respectively. BlackSky and Spire Global, two earth imaging businesses, are merging with Osprey Technology Acquisition (SFWT) and NavSight (NSH), respectively.Others include AST & Science, which is merging with New Providence Acquisition (NPA). That company is putting up hundreds of satellites to provide mobile phone infrastructure. Momentus, along with Redwire, offer the infrastructure services supporting new commercial space players. Those two are merging with Stable Road Acquisition (SRAC) and Genesis Park Acquisition (GNPK), respectively.The market capitalization of those seven companies is roughly $16 billion based on the number of shares outstanding for each after their SPAC mergers close. But none of those names are included in the ARK Space fund’s portfolio—at least not yet.ARK is open to investing in SPACs if the merger target has already been identified, says Leggi, but they need to review more financial data than is typically provided in SPAC merger presentations.High valuations have also caused ARK to wait on some names. “They fit our theme but from a valuation point, they don’t meet our hurdle rate for the next five years,” says Leggi, noting that the fund looks for companies that can provide investors with 15% annualized returns. “We will be patient and continue to track them. If we get an opportunity, we will leg into it. A lot of them are very interesting,” he adds.ARK isn’t the only one hesitant to jump into space SPACs. The space fund’s rival, the $129 million Procure Space ETF (UFO), also doesn’t own any SPACs. Unlike the actively managed ARK ETF, the Procure fund tracks an underlying index with predetermined rules that prohibit investments in SPACs before the merger is complete.“There is a tremendous risk to any SPAC,” Andrew Chanin, CEO of Procure ETFs, tells Barron’s. “That a target is announced and the deal doesn’t go through for a multitude of reasons. Then you are looking at a company that doesn’t have any space exposure other than a proposed target.”The Procure ETF has added newly public stocks to its holdings shortly after the SPAC merger was completed, such as space tourism pioneer Virgin Galactic (SPCE).The Procure ETF claims to be a “purer” play. More than 80% of its portfolio–per index mandate–has to be invested in companies whose majority revenues are derived from space-related businesses and activities. The remaining 20% are in diversified aerospace defense names such as Boeing (BA) and Lockheed Martin (LMT), which also generate a significant amount of revenue–albeit not the majority–from their space-related units.“Anyone can argue that almost every publicly traded company has some exposure to space, or space plays a role in that company’s ability to succeed,” says Chanin. “For us, it’s not about making nuanced arguments about how maybe a company could potentially benefit from space.”Differing ExposuresPercentage of portfolio in selected industries.Despite their differences, both funds share the same top holding, Trimble (TRMB), with an 8.6% weight in the ARK fund and a 5.2% weight in the Procure fund. The company is tapping into multiple space-related areas, offering software, data, and sensors for drones, as well as fleet management services for space construction and logistics.Procure’s space fund was launched in April 2019. It dipped 2% in 2020, while the S&P 500 returned 18.4%. Year to date, the Procure fund has gained 11.1%, beating the broader index by five percentage points.The ARK space fund finished its first trading day on Tuesday down 1%. The S&P 500 fell less than 1%.And although neither funds have exposure to space SPACs, investors can still own a piece of them by buying shares of their SPACs. Barron’s recently wrote positively about Rocket Labs, believing it’s the best option for growth investors looking for new space exposure. The company is already carrying payloads into space and has the ability to build and manage satellites.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":354584445,"gmtCreate":1617188841287,"gmtModify":1634522193280,"author":{"id":"3578211149235322","authorId":"3578211149235322","name":"Jewoo","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3578211149235322","authorIdStr":"3578211149235322"},"htmlText":"To infinity and beyond","listText":"To infinity and beyond","text":"To infinity and beyond","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/354584445","repostId":1126047060,"repostType":4,"repost":{"id":"1126047060","kind":"news","pubTimestamp":1617185695,"share":"https://www.laohu8.com/m/news/1126047060?lang=&edition=full","pubTime":"2021-03-31 18:14","market":"us","language":"en","title":"Why Cathie Wood’s Space ETF Has Some Unexpected Holdings","url":"https://stock-news.laohu8.com/highlight/detail?id=1126047060","media":"Barron's","summary":"The ARK Space Exploration & Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some surprises in the fund’s portfolio: Some popular firms in space-exploration related fields were not included, while other seemingly unrelated names–including half a dozen internet tech giants–make up a significant weight.That is because ARK’s space fund  isn’t limited to companies directly involved ","content":"<p>The ARK Space Exploration &amp; Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some surprises in the fund’s portfolio: Some popular firms in space-exploration related fields were not included, while other seemingly unrelated names–including half a dozen internet tech giants–make up a significant weight.</p><p>That is because ARK’s space fund (ticker: ARKX) isn’t limited to companies directly involved in the space business, but also other innovations that have indirectly enabled the space boom. The ETF owns Google parent Alphabet (ticker: GOOG), for example, because it’s a leader in artificial intelligence. NVIDIA (NVDA), another holding, manufactures computer chips that allow rockets to operate efficiently.</p><p>The fund’s second-largest position is another ARK product, the $548 million ARK 3D Printing ETF (PRNT). That’s because many rocket parts are 3D printed for reasons related to cost, weight, and durability, says Ren Leggi, client portfolio manager at ARK. To be sure, the 0.66% management fee of the ARK 3D Printing ETF is fully rebated back to ARKX investors. “We are not double dipping,” says Leggi, “You are not paying double-layer fees.”</p><p>The fund also holds companies that are well-positioned to benefit from the development in aerospace-related tech. E-commerce giants like Amazon.com (AMZN) and Alibaba (BABA) are included because they can save delivery costs and generate revenue from drones if that market matures and scales. Netflix (NFLX), another holding, could potentially unlock millions of new users as satellite broadband connects more people to the internet. “There are three billion people who do not have access to internet,” says Leggi. “Satellite connectivity opens up the market. It really is about anything above ground.”</p><p>Still, there is one glaring omission in the fund: It doesn’t hold any of the new pure-play space companies set to go public via mergers with special purpose acquisition companies, or SPACs.</p><p>Those options would include Rocket Lab USA and Astra, two launch service companies that are currently sending commercial payloads into low Earth orbit. The pair is merging with Vector Acquisition (VACQ) and Holicity (HOL), respectively. BlackSky and Spire Global, two earth imaging businesses, are merging with Osprey Technology Acquisition (SFWT) and NavSight (NSH), respectively.</p><p>Others include AST &amp; Science, which is merging with New Providence Acquisition (NPA). That company is putting up hundreds of satellites to provide mobile phone infrastructure. Momentus, along with Redwire, offer the infrastructure services supporting new commercial space players. Those two are merging with Stable Road Acquisition (SRAC) and Genesis Park Acquisition (GNPK), respectively.</p><p>The market capitalization of those seven companies is roughly $16 billion based on the number of shares outstanding for each after their SPAC mergers close. But none of those names are included in the ARK Space fund’s portfolio—at least not yet.</p><p>ARK is open to investing in SPACs if the merger target has already been identified, says Leggi, but they need to review more financial data than is typically provided in SPAC merger presentations.</p><p>High valuations have also caused ARK to wait on some names. “They fit our theme but from a valuation point, they don’t meet our hurdle rate for the next five years,” says Leggi, noting that the fund looks for companies that can provide investors with 15% annualized returns. “We will be patient and continue to track them. If we get an opportunity, we will leg into it. A lot of them are very interesting,” he adds.</p><p>ARK isn’t the only one hesitant to jump into space SPACs. The space fund’s rival, the $129 million Procure Space ETF (UFO), also doesn’t own any SPACs. Unlike the actively managed ARK ETF, the Procure fund tracks an underlying index with predetermined rules that prohibit investments in SPACs before the merger is complete.</p><p>“There is a tremendous risk to any SPAC,” Andrew Chanin, CEO of Procure ETFs, tells Barron’s. “That a target is announced and the deal doesn’t go through for a multitude of reasons. Then you are looking at a company that doesn’t have any space exposure other than a proposed target.”</p><p>The Procure ETF has added newly public stocks to its holdings shortly after the SPAC merger was completed, such as space tourism pioneer Virgin Galactic (SPCE).</p><p>The Procure ETF claims to be a “purer” play. More than 80% of its portfolio–per index mandate–has to be invested in companies whose majority revenues are derived from space-related businesses and activities. The remaining 20% are in diversified aerospace defense names such as Boeing (BA) and Lockheed Martin (LMT), which also generate a significant amount of revenue–albeit not the majority–from their space-related units.</p><p>“Anyone can argue that almost every publicly traded company has some exposure to space, or space plays a role in that company’s ability to succeed,” says Chanin. “For us, it’s not about making nuanced arguments about how maybe a company could potentially benefit from space.”</p><p><b>Differing Exposures</b></p><p>Percentage of portfolio in selected industries.</p><p><img src=\"https://static.tigerbbs.com/7610169c4e1c63baad57b034b647f2ef\" tg-width=\"1242\" tg-height=\"975\" referrerpolicy=\"no-referrer\">Despite their differences, both funds share the same top holding, Trimble (TRMB), with an 8.6% weight in the ARK fund and a 5.2% weight in the Procure fund. The company is tapping into multiple space-related areas, offering software, data, and sensors for drones, as well as fleet management services for space construction and logistics.</p><p>Procure’s space fund was launched in April 2019. It dipped 2% in 2020, while the S&amp;P 500 returned 18.4%. Year to date, the Procure fund has gained 11.1%, beating the broader index by five percentage points.</p><p>The ARK space fund finished its first trading day on Tuesday down 1%. The S&amp;P 500 fell less than 1%.</p><p>And although neither funds have exposure to space SPACs, investors can still own a piece of them by buying shares of their SPACs. Barron’s recently wrote positively about Rocket Labs, believing it’s the best option for growth investors looking for new space exposure. The company is already carrying payloads into space and has the ability to build and manage satellites.</p>","source":"lsy1610680873436","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Cathie Wood’s Space ETF Has Some Unexpected Holdings</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Cathie Wood’s Space ETF Has Some Unexpected Holdings\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-31 18:14 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/the-ark-space-etf-has-some-unexpected-holdings-51617150050?mod=hp_LEAD_1><strong>Barron's</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The ARK Space Exploration & Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some...</p>\n\n<a href=\"https://www.barrons.com/articles/the-ark-space-etf-has-some-unexpected-holdings-51617150050?mod=hp_LEAD_1\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/55e4b11e868aab2bd1399f8a1e0cd685","relate_stocks":{},"source_url":"https://www.barrons.com/articles/the-ark-space-etf-has-some-unexpected-holdings-51617150050?mod=hp_LEAD_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1126047060","content_text":"The ARK Space Exploration & Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some surprises in the fund’s portfolio: Some popular firms in space-exploration related fields were not included, while other seemingly unrelated names–including half a dozen internet tech giants–make up a significant weight.That is because ARK’s space fund (ticker: ARKX) isn’t limited to companies directly involved in the space business, but also other innovations that have indirectly enabled the space boom. The ETF owns Google parent Alphabet (ticker: GOOG), for example, because it’s a leader in artificial intelligence. NVIDIA (NVDA), another holding, manufactures computer chips that allow rockets to operate efficiently.The fund’s second-largest position is another ARK product, the $548 million ARK 3D Printing ETF (PRNT). That’s because many rocket parts are 3D printed for reasons related to cost, weight, and durability, says Ren Leggi, client portfolio manager at ARK. To be sure, the 0.66% management fee of the ARK 3D Printing ETF is fully rebated back to ARKX investors. “We are not double dipping,” says Leggi, “You are not paying double-layer fees.”The fund also holds companies that are well-positioned to benefit from the development in aerospace-related tech. E-commerce giants like Amazon.com (AMZN) and Alibaba (BABA) are included because they can save delivery costs and generate revenue from drones if that market matures and scales. Netflix (NFLX), another holding, could potentially unlock millions of new users as satellite broadband connects more people to the internet. “There are three billion people who do not have access to internet,” says Leggi. “Satellite connectivity opens up the market. It really is about anything above ground.”Still, there is one glaring omission in the fund: It doesn’t hold any of the new pure-play space companies set to go public via mergers with special purpose acquisition companies, or SPACs.Those options would include Rocket Lab USA and Astra, two launch service companies that are currently sending commercial payloads into low Earth orbit. The pair is merging with Vector Acquisition (VACQ) and Holicity (HOL), respectively. BlackSky and Spire Global, two earth imaging businesses, are merging with Osprey Technology Acquisition (SFWT) and NavSight (NSH), respectively.Others include AST & Science, which is merging with New Providence Acquisition (NPA). That company is putting up hundreds of satellites to provide mobile phone infrastructure. Momentus, along with Redwire, offer the infrastructure services supporting new commercial space players. Those two are merging with Stable Road Acquisition (SRAC) and Genesis Park Acquisition (GNPK), respectively.The market capitalization of those seven companies is roughly $16 billion based on the number of shares outstanding for each after their SPAC mergers close. But none of those names are included in the ARK Space fund’s portfolio—at least not yet.ARK is open to investing in SPACs if the merger target has already been identified, says Leggi, but they need to review more financial data than is typically provided in SPAC merger presentations.High valuations have also caused ARK to wait on some names. “They fit our theme but from a valuation point, they don’t meet our hurdle rate for the next five years,” says Leggi, noting that the fund looks for companies that can provide investors with 15% annualized returns. “We will be patient and continue to track them. If we get an opportunity, we will leg into it. A lot of them are very interesting,” he adds.ARK isn’t the only one hesitant to jump into space SPACs. The space fund’s rival, the $129 million Procure Space ETF (UFO), also doesn’t own any SPACs. Unlike the actively managed ARK ETF, the Procure fund tracks an underlying index with predetermined rules that prohibit investments in SPACs before the merger is complete.“There is a tremendous risk to any SPAC,” Andrew Chanin, CEO of Procure ETFs, tells Barron’s. “That a target is announced and the deal doesn’t go through for a multitude of reasons. Then you are looking at a company that doesn’t have any space exposure other than a proposed target.”The Procure ETF has added newly public stocks to its holdings shortly after the SPAC merger was completed, such as space tourism pioneer Virgin Galactic (SPCE).The Procure ETF claims to be a “purer” play. More than 80% of its portfolio–per index mandate–has to be invested in companies whose majority revenues are derived from space-related businesses and activities. The remaining 20% are in diversified aerospace defense names such as Boeing (BA) and Lockheed Martin (LMT), which also generate a significant amount of revenue–albeit not the majority–from their space-related units.“Anyone can argue that almost every publicly traded company has some exposure to space, or space plays a role in that company’s ability to succeed,” says Chanin. “For us, it’s not about making nuanced arguments about how maybe a company could potentially benefit from space.”Differing ExposuresPercentage of portfolio in selected industries.Despite their differences, both funds share the same top holding, Trimble (TRMB), with an 8.6% weight in the ARK fund and a 5.2% weight in the Procure fund. The company is tapping into multiple space-related areas, offering software, data, and sensors for drones, as well as fleet management services for space construction and logistics.Procure’s space fund was launched in April 2019. It dipped 2% in 2020, while the S&P 500 returned 18.4%. Year to date, the Procure fund has gained 11.1%, beating the broader index by five percentage points.The ARK space fund finished its first trading day on Tuesday down 1%. The S&P 500 fell less than 1%.And although neither funds have exposure to space SPACs, investors can still own a piece of them by buying shares of their SPACs. Barron’s recently wrote positively about Rocket Labs, believing it’s the best option for growth investors looking for new space exposure. The company is already carrying payloads into space and has the ability to build and manage satellites.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":354584219,"gmtCreate":1617188832831,"gmtModify":1634522193520,"author":{"id":"3572494811830247","authorId":"3572494811830247","name":"一心只想投资赚点生活费","avatar":"https://static.tigerbbs.com/5437c27ca4df78484ade1d95f574d7ba","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3572494811830247","authorIdStr":"3572494811830247"},"htmlText":"That explained! <a href=\"https://laohu8.com/U/3556347883039676\">@Ahwooo</a>","listText":"That explained! <a href=\"https://laohu8.com/U/3556347883039676\">@Ahwooo</a>","text":"That explained! @Ahwooo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/354584219","repostId":1126047060,"repostType":4,"repost":{"id":"1126047060","kind":"news","pubTimestamp":1617185695,"share":"https://www.laohu8.com/m/news/1126047060?lang=&edition=full","pubTime":"2021-03-31 18:14","market":"us","language":"en","title":"Why Cathie Wood’s Space ETF Has Some Unexpected Holdings","url":"https://stock-news.laohu8.com/highlight/detail?id=1126047060","media":"Barron's","summary":"The ARK Space Exploration & Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some surprises in the fund’s portfolio: Some popular firms in space-exploration related fields were not included, while other seemingly unrelated names–including half a dozen internet tech giants–make up a significant weight.That is because ARK’s space fund  isn’t limited to companies directly involved ","content":"<p>The ARK Space Exploration &amp; Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some surprises in the fund’s portfolio: Some popular firms in space-exploration related fields were not included, while other seemingly unrelated names–including half a dozen internet tech giants–make up a significant weight.</p><p>That is because ARK’s space fund (ticker: ARKX) isn’t limited to companies directly involved in the space business, but also other innovations that have indirectly enabled the space boom. The ETF owns Google parent Alphabet (ticker: GOOG), for example, because it’s a leader in artificial intelligence. NVIDIA (NVDA), another holding, manufactures computer chips that allow rockets to operate efficiently.</p><p>The fund’s second-largest position is another ARK product, the $548 million ARK 3D Printing ETF (PRNT). That’s because many rocket parts are 3D printed for reasons related to cost, weight, and durability, says Ren Leggi, client portfolio manager at ARK. To be sure, the 0.66% management fee of the ARK 3D Printing ETF is fully rebated back to ARKX investors. “We are not double dipping,” says Leggi, “You are not paying double-layer fees.”</p><p>The fund also holds companies that are well-positioned to benefit from the development in aerospace-related tech. E-commerce giants like Amazon.com (AMZN) and Alibaba (BABA) are included because they can save delivery costs and generate revenue from drones if that market matures and scales. Netflix (NFLX), another holding, could potentially unlock millions of new users as satellite broadband connects more people to the internet. “There are three billion people who do not have access to internet,” says Leggi. “Satellite connectivity opens up the market. It really is about anything above ground.”</p><p>Still, there is one glaring omission in the fund: It doesn’t hold any of the new pure-play space companies set to go public via mergers with special purpose acquisition companies, or SPACs.</p><p>Those options would include Rocket Lab USA and Astra, two launch service companies that are currently sending commercial payloads into low Earth orbit. The pair is merging with Vector Acquisition (VACQ) and Holicity (HOL), respectively. BlackSky and Spire Global, two earth imaging businesses, are merging with Osprey Technology Acquisition (SFWT) and NavSight (NSH), respectively.</p><p>Others include AST &amp; Science, which is merging with New Providence Acquisition (NPA). That company is putting up hundreds of satellites to provide mobile phone infrastructure. Momentus, along with Redwire, offer the infrastructure services supporting new commercial space players. Those two are merging with Stable Road Acquisition (SRAC) and Genesis Park Acquisition (GNPK), respectively.</p><p>The market capitalization of those seven companies is roughly $16 billion based on the number of shares outstanding for each after their SPAC mergers close. But none of those names are included in the ARK Space fund’s portfolio—at least not yet.</p><p>ARK is open to investing in SPACs if the merger target has already been identified, says Leggi, but they need to review more financial data than is typically provided in SPAC merger presentations.</p><p>High valuations have also caused ARK to wait on some names. “They fit our theme but from a valuation point, they don’t meet our hurdle rate for the next five years,” says Leggi, noting that the fund looks for companies that can provide investors with 15% annualized returns. “We will be patient and continue to track them. If we get an opportunity, we will leg into it. A lot of them are very interesting,” he adds.</p><p>ARK isn’t the only one hesitant to jump into space SPACs. The space fund’s rival, the $129 million Procure Space ETF (UFO), also doesn’t own any SPACs. Unlike the actively managed ARK ETF, the Procure fund tracks an underlying index with predetermined rules that prohibit investments in SPACs before the merger is complete.</p><p>“There is a tremendous risk to any SPAC,” Andrew Chanin, CEO of Procure ETFs, tells Barron’s. “That a target is announced and the deal doesn’t go through for a multitude of reasons. Then you are looking at a company that doesn’t have any space exposure other than a proposed target.”</p><p>The Procure ETF has added newly public stocks to its holdings shortly after the SPAC merger was completed, such as space tourism pioneer Virgin Galactic (SPCE).</p><p>The Procure ETF claims to be a “purer” play. More than 80% of its portfolio–per index mandate–has to be invested in companies whose majority revenues are derived from space-related businesses and activities. The remaining 20% are in diversified aerospace defense names such as Boeing (BA) and Lockheed Martin (LMT), which also generate a significant amount of revenue–albeit not the majority–from their space-related units.</p><p>“Anyone can argue that almost every publicly traded company has some exposure to space, or space plays a role in that company’s ability to succeed,” says Chanin. “For us, it’s not about making nuanced arguments about how maybe a company could potentially benefit from space.”</p><p><b>Differing Exposures</b></p><p>Percentage of portfolio in selected industries.</p><p><img src=\"https://static.tigerbbs.com/7610169c4e1c63baad57b034b647f2ef\" tg-width=\"1242\" tg-height=\"975\" referrerpolicy=\"no-referrer\">Despite their differences, both funds share the same top holding, Trimble (TRMB), with an 8.6% weight in the ARK fund and a 5.2% weight in the Procure fund. The company is tapping into multiple space-related areas, offering software, data, and sensors for drones, as well as fleet management services for space construction and logistics.</p><p>Procure’s space fund was launched in April 2019. It dipped 2% in 2020, while the S&amp;P 500 returned 18.4%. Year to date, the Procure fund has gained 11.1%, beating the broader index by five percentage points.</p><p>The ARK space fund finished its first trading day on Tuesday down 1%. The S&amp;P 500 fell less than 1%.</p><p>And although neither funds have exposure to space SPACs, investors can still own a piece of them by buying shares of their SPACs. Barron’s recently wrote positively about Rocket Labs, believing it’s the best option for growth investors looking for new space exposure. The company is already carrying payloads into space and has the ability to build and manage satellites.</p>","source":"lsy1610680873436","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Cathie Wood’s Space ETF Has Some Unexpected Holdings</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Cathie Wood’s Space ETF Has Some Unexpected Holdings\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-31 18:14 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/the-ark-space-etf-has-some-unexpected-holdings-51617150050?mod=hp_LEAD_1><strong>Barron's</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The ARK Space Exploration & Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some...</p>\n\n<a href=\"https://www.barrons.com/articles/the-ark-space-etf-has-some-unexpected-holdings-51617150050?mod=hp_LEAD_1\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/55e4b11e868aab2bd1399f8a1e0cd685","relate_stocks":{},"source_url":"https://www.barrons.com/articles/the-ark-space-etf-has-some-unexpected-holdings-51617150050?mod=hp_LEAD_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1126047060","content_text":"The ARK Space Exploration & Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some surprises in the fund’s portfolio: Some popular firms in space-exploration related fields were not included, while other seemingly unrelated names–including half a dozen internet tech giants–make up a significant weight.That is because ARK’s space fund (ticker: ARKX) isn’t limited to companies directly involved in the space business, but also other innovations that have indirectly enabled the space boom. The ETF owns Google parent Alphabet (ticker: GOOG), for example, because it’s a leader in artificial intelligence. NVIDIA (NVDA), another holding, manufactures computer chips that allow rockets to operate efficiently.The fund’s second-largest position is another ARK product, the $548 million ARK 3D Printing ETF (PRNT). That’s because many rocket parts are 3D printed for reasons related to cost, weight, and durability, says Ren Leggi, client portfolio manager at ARK. To be sure, the 0.66% management fee of the ARK 3D Printing ETF is fully rebated back to ARKX investors. “We are not double dipping,” says Leggi, “You are not paying double-layer fees.”The fund also holds companies that are well-positioned to benefit from the development in aerospace-related tech. E-commerce giants like Amazon.com (AMZN) and Alibaba (BABA) are included because they can save delivery costs and generate revenue from drones if that market matures and scales. Netflix (NFLX), another holding, could potentially unlock millions of new users as satellite broadband connects more people to the internet. “There are three billion people who do not have access to internet,” says Leggi. “Satellite connectivity opens up the market. It really is about anything above ground.”Still, there is one glaring omission in the fund: It doesn’t hold any of the new pure-play space companies set to go public via mergers with special purpose acquisition companies, or SPACs.Those options would include Rocket Lab USA and Astra, two launch service companies that are currently sending commercial payloads into low Earth orbit. The pair is merging with Vector Acquisition (VACQ) and Holicity (HOL), respectively. BlackSky and Spire Global, two earth imaging businesses, are merging with Osprey Technology Acquisition (SFWT) and NavSight (NSH), respectively.Others include AST & Science, which is merging with New Providence Acquisition (NPA). That company is putting up hundreds of satellites to provide mobile phone infrastructure. Momentus, along with Redwire, offer the infrastructure services supporting new commercial space players. Those two are merging with Stable Road Acquisition (SRAC) and Genesis Park Acquisition (GNPK), respectively.The market capitalization of those seven companies is roughly $16 billion based on the number of shares outstanding for each after their SPAC mergers close. But none of those names are included in the ARK Space fund’s portfolio—at least not yet.ARK is open to investing in SPACs if the merger target has already been identified, says Leggi, but they need to review more financial data than is typically provided in SPAC merger presentations.High valuations have also caused ARK to wait on some names. “They fit our theme but from a valuation point, they don’t meet our hurdle rate for the next five years,” says Leggi, noting that the fund looks for companies that can provide investors with 15% annualized returns. “We will be patient and continue to track them. If we get an opportunity, we will leg into it. A lot of them are very interesting,” he adds.ARK isn’t the only one hesitant to jump into space SPACs. The space fund’s rival, the $129 million Procure Space ETF (UFO), also doesn’t own any SPACs. Unlike the actively managed ARK ETF, the Procure fund tracks an underlying index with predetermined rules that prohibit investments in SPACs before the merger is complete.“There is a tremendous risk to any SPAC,” Andrew Chanin, CEO of Procure ETFs, tells Barron’s. “That a target is announced and the deal doesn’t go through for a multitude of reasons. Then you are looking at a company that doesn’t have any space exposure other than a proposed target.”The Procure ETF has added newly public stocks to its holdings shortly after the SPAC merger was completed, such as space tourism pioneer Virgin Galactic (SPCE).The Procure ETF claims to be a “purer” play. More than 80% of its portfolio–per index mandate–has to be invested in companies whose majority revenues are derived from space-related businesses and activities. The remaining 20% are in diversified aerospace defense names such as Boeing (BA) and Lockheed Martin (LMT), which also generate a significant amount of revenue–albeit not the majority–from their space-related units.“Anyone can argue that almost every publicly traded company has some exposure to space, or space plays a role in that company’s ability to succeed,” says Chanin. “For us, it’s not about making nuanced arguments about how maybe a company could potentially benefit from space.”Differing ExposuresPercentage of portfolio in selected industries.Despite their differences, both funds share the same top holding, Trimble (TRMB), with an 8.6% weight in the ARK fund and a 5.2% weight in the Procure fund. The company is tapping into multiple space-related areas, offering software, data, and sensors for drones, as well as fleet management services for space construction and logistics.Procure’s space fund was launched in April 2019. It dipped 2% in 2020, while the S&P 500 returned 18.4%. Year to date, the Procure fund has gained 11.1%, beating the broader index by five percentage points.The ARK space fund finished its first trading day on Tuesday down 1%. The S&P 500 fell less than 1%.And although neither funds have exposure to space SPACs, investors can still own a piece of them by buying shares of their SPACs. Barron’s recently wrote positively about Rocket Labs, believing it’s the best option for growth investors looking for new space exposure. The company is already carrying payloads into space and has the ability to build and manage satellites.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3930178,"gmtCreate":1617190201891,"gmtModify":1635746029142,"authorId":3556347883039676,"author":{"id":3556347883039676,"idStr":"3556347883039676","authorId":3556347883039676,"name":"Ahwooo","avatar":"https://static.tigerbbs.com/1f3c616b4c32a5da0a450f4252bdff92","vip":1,"crmLevel":6,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":354584219,"type":1,"supId":0,"prevId":0,"content":"lets rocket on bro<a href=\"https://laohu8.com/U/3572494811830247\"> @Williamchooi </a> [财迷] [财迷] [财迷] [财迷]","text":"lets rocket on bro<a href=\"https://laohu8.com/U/3572494811830247\"> @Williamchooi </a> [财迷] [财迷] [财迷] [财迷]","html":"lets rocket on bro<a href=\"https://laohu8.com/U/3572494811830247\"> @Williamchooi </a> [财迷] [财迷] [财迷] [财迷]"},{"id":3930182,"gmtCreate":1617190227726,"gmtModify":1635746028925,"authorId":3556347883039676,"author":{"id":3556347883039676,"idStr":"3556347883039676","authorId":3556347883039676,"name":"Ahwooo","avatar":"https://static.tigerbbs.com/1f3c616b4c32a5da0a450f4252bdff92","vip":1,"crmLevel":6,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":354584219,"type":1,"supId":3930178,"prevId":0,"content":"<a href=\"https://laohu8.com/S/ARKX\"> $ARK Space Exploration &amp; Innovation ETF(ARKX)$ </a>  [看涨] [看涨]","text":"<a href=\"https://laohu8.com/S/ARKX\"> $ARK Space Exploration &amp; Innovation ETF(ARKX)$ </a>  [看涨] [看涨]","html":"<a href=\"https://laohu8.com/S/ARKX\"> $ARK Space Exploration &amp; Innovation ETF(ARKX)$ </a>  [看涨] [看涨]"}],"langContent":"EN"},{"id":354582082,"gmtCreate":1617188476046,"gmtModify":1634522195204,"author":{"id":"3554888465013982","authorId":"3554888465013982","name":"HENG","avatar":"https://static.tigerbbs.com/0867d63e5741b16124579ed8b448843d","vip":1,"crmLevel":6,"crmLevelSwitch":0,"idStr":"3554888465013982","authorIdStr":"3554888465013982"},"htmlText":"Why ah unrelated... hmmm","listText":"Why ah unrelated... hmmm","text":"Why ah unrelated... hmmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/354582082","repostId":1126047060,"repostType":4,"repost":{"id":"1126047060","kind":"news","pubTimestamp":1617185695,"share":"https://www.laohu8.com/m/news/1126047060?lang=&edition=full","pubTime":"2021-03-31 18:14","market":"us","language":"en","title":"Why Cathie Wood’s Space ETF Has Some Unexpected Holdings","url":"https://stock-news.laohu8.com/highlight/detail?id=1126047060","media":"Barron's","summary":"The ARK Space Exploration & Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some surprises in the fund’s portfolio: Some popular firms in space-exploration related fields were not included, while other seemingly unrelated names–including half a dozen internet tech giants–make up a significant weight.That is because ARK’s space fund  isn’t limited to companies directly involved ","content":"<p>The ARK Space Exploration &amp; Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some surprises in the fund’s portfolio: Some popular firms in space-exploration related fields were not included, while other seemingly unrelated names–including half a dozen internet tech giants–make up a significant weight.</p><p>That is because ARK’s space fund (ticker: ARKX) isn’t limited to companies directly involved in the space business, but also other innovations that have indirectly enabled the space boom. The ETF owns Google parent Alphabet (ticker: GOOG), for example, because it’s a leader in artificial intelligence. NVIDIA (NVDA), another holding, manufactures computer chips that allow rockets to operate efficiently.</p><p>The fund’s second-largest position is another ARK product, the $548 million ARK 3D Printing ETF (PRNT). That’s because many rocket parts are 3D printed for reasons related to cost, weight, and durability, says Ren Leggi, client portfolio manager at ARK. To be sure, the 0.66% management fee of the ARK 3D Printing ETF is fully rebated back to ARKX investors. “We are not double dipping,” says Leggi, “You are not paying double-layer fees.”</p><p>The fund also holds companies that are well-positioned to benefit from the development in aerospace-related tech. E-commerce giants like Amazon.com (AMZN) and Alibaba (BABA) are included because they can save delivery costs and generate revenue from drones if that market matures and scales. Netflix (NFLX), another holding, could potentially unlock millions of new users as satellite broadband connects more people to the internet. “There are three billion people who do not have access to internet,” says Leggi. “Satellite connectivity opens up the market. It really is about anything above ground.”</p><p>Still, there is one glaring omission in the fund: It doesn’t hold any of the new pure-play space companies set to go public via mergers with special purpose acquisition companies, or SPACs.</p><p>Those options would include Rocket Lab USA and Astra, two launch service companies that are currently sending commercial payloads into low Earth orbit. The pair is merging with Vector Acquisition (VACQ) and Holicity (HOL), respectively. BlackSky and Spire Global, two earth imaging businesses, are merging with Osprey Technology Acquisition (SFWT) and NavSight (NSH), respectively.</p><p>Others include AST &amp; Science, which is merging with New Providence Acquisition (NPA). That company is putting up hundreds of satellites to provide mobile phone infrastructure. Momentus, along with Redwire, offer the infrastructure services supporting new commercial space players. Those two are merging with Stable Road Acquisition (SRAC) and Genesis Park Acquisition (GNPK), respectively.</p><p>The market capitalization of those seven companies is roughly $16 billion based on the number of shares outstanding for each after their SPAC mergers close. But none of those names are included in the ARK Space fund’s portfolio—at least not yet.</p><p>ARK is open to investing in SPACs if the merger target has already been identified, says Leggi, but they need to review more financial data than is typically provided in SPAC merger presentations.</p><p>High valuations have also caused ARK to wait on some names. “They fit our theme but from a valuation point, they don’t meet our hurdle rate for the next five years,” says Leggi, noting that the fund looks for companies that can provide investors with 15% annualized returns. “We will be patient and continue to track them. If we get an opportunity, we will leg into it. A lot of them are very interesting,” he adds.</p><p>ARK isn’t the only one hesitant to jump into space SPACs. The space fund’s rival, the $129 million Procure Space ETF (UFO), also doesn’t own any SPACs. Unlike the actively managed ARK ETF, the Procure fund tracks an underlying index with predetermined rules that prohibit investments in SPACs before the merger is complete.</p><p>“There is a tremendous risk to any SPAC,” Andrew Chanin, CEO of Procure ETFs, tells Barron’s. “That a target is announced and the deal doesn’t go through for a multitude of reasons. Then you are looking at a company that doesn’t have any space exposure other than a proposed target.”</p><p>The Procure ETF has added newly public stocks to its holdings shortly after the SPAC merger was completed, such as space tourism pioneer Virgin Galactic (SPCE).</p><p>The Procure ETF claims to be a “purer” play. More than 80% of its portfolio–per index mandate–has to be invested in companies whose majority revenues are derived from space-related businesses and activities. The remaining 20% are in diversified aerospace defense names such as Boeing (BA) and Lockheed Martin (LMT), which also generate a significant amount of revenue–albeit not the majority–from their space-related units.</p><p>“Anyone can argue that almost every publicly traded company has some exposure to space, or space plays a role in that company’s ability to succeed,” says Chanin. “For us, it’s not about making nuanced arguments about how maybe a company could potentially benefit from space.”</p><p><b>Differing Exposures</b></p><p>Percentage of portfolio in selected industries.</p><p><img src=\"https://static.tigerbbs.com/7610169c4e1c63baad57b034b647f2ef\" tg-width=\"1242\" tg-height=\"975\" referrerpolicy=\"no-referrer\">Despite their differences, both funds share the same top holding, Trimble (TRMB), with an 8.6% weight in the ARK fund and a 5.2% weight in the Procure fund. The company is tapping into multiple space-related areas, offering software, data, and sensors for drones, as well as fleet management services for space construction and logistics.</p><p>Procure’s space fund was launched in April 2019. It dipped 2% in 2020, while the S&amp;P 500 returned 18.4%. Year to date, the Procure fund has gained 11.1%, beating the broader index by five percentage points.</p><p>The ARK space fund finished its first trading day on Tuesday down 1%. The S&amp;P 500 fell less than 1%.</p><p>And although neither funds have exposure to space SPACs, investors can still own a piece of them by buying shares of their SPACs. Barron’s recently wrote positively about Rocket Labs, believing it’s the best option for growth investors looking for new space exposure. The company is already carrying payloads into space and has the ability to build and manage satellites.</p>","source":"lsy1610680873436","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Cathie Wood’s Space ETF Has Some Unexpected Holdings</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Cathie Wood’s Space ETF Has Some Unexpected Holdings\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-31 18:14 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/the-ark-space-etf-has-some-unexpected-holdings-51617150050?mod=hp_LEAD_1><strong>Barron's</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The ARK Space Exploration & Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some...</p>\n\n<a href=\"https://www.barrons.com/articles/the-ark-space-etf-has-some-unexpected-holdings-51617150050?mod=hp_LEAD_1\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/55e4b11e868aab2bd1399f8a1e0cd685","relate_stocks":{},"source_url":"https://www.barrons.com/articles/the-ark-space-etf-has-some-unexpected-holdings-51617150050?mod=hp_LEAD_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1126047060","content_text":"The ARK Space Exploration & Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some surprises in the fund’s portfolio: Some popular firms in space-exploration related fields were not included, while other seemingly unrelated names–including half a dozen internet tech giants–make up a significant weight.That is because ARK’s space fund (ticker: ARKX) isn’t limited to companies directly involved in the space business, but also other innovations that have indirectly enabled the space boom. The ETF owns Google parent Alphabet (ticker: GOOG), for example, because it’s a leader in artificial intelligence. NVIDIA (NVDA), another holding, manufactures computer chips that allow rockets to operate efficiently.The fund’s second-largest position is another ARK product, the $548 million ARK 3D Printing ETF (PRNT). That’s because many rocket parts are 3D printed for reasons related to cost, weight, and durability, says Ren Leggi, client portfolio manager at ARK. To be sure, the 0.66% management fee of the ARK 3D Printing ETF is fully rebated back to ARKX investors. “We are not double dipping,” says Leggi, “You are not paying double-layer fees.”The fund also holds companies that are well-positioned to benefit from the development in aerospace-related tech. E-commerce giants like Amazon.com (AMZN) and Alibaba (BABA) are included because they can save delivery costs and generate revenue from drones if that market matures and scales. Netflix (NFLX), another holding, could potentially unlock millions of new users as satellite broadband connects more people to the internet. “There are three billion people who do not have access to internet,” says Leggi. “Satellite connectivity opens up the market. It really is about anything above ground.”Still, there is one glaring omission in the fund: It doesn’t hold any of the new pure-play space companies set to go public via mergers with special purpose acquisition companies, or SPACs.Those options would include Rocket Lab USA and Astra, two launch service companies that are currently sending commercial payloads into low Earth orbit. The pair is merging with Vector Acquisition (VACQ) and Holicity (HOL), respectively. BlackSky and Spire Global, two earth imaging businesses, are merging with Osprey Technology Acquisition (SFWT) and NavSight (NSH), respectively.Others include AST & Science, which is merging with New Providence Acquisition (NPA). That company is putting up hundreds of satellites to provide mobile phone infrastructure. Momentus, along with Redwire, offer the infrastructure services supporting new commercial space players. Those two are merging with Stable Road Acquisition (SRAC) and Genesis Park Acquisition (GNPK), respectively.The market capitalization of those seven companies is roughly $16 billion based on the number of shares outstanding for each after their SPAC mergers close. But none of those names are included in the ARK Space fund’s portfolio—at least not yet.ARK is open to investing in SPACs if the merger target has already been identified, says Leggi, but they need to review more financial data than is typically provided in SPAC merger presentations.High valuations have also caused ARK to wait on some names. “They fit our theme but from a valuation point, they don’t meet our hurdle rate for the next five years,” says Leggi, noting that the fund looks for companies that can provide investors with 15% annualized returns. “We will be patient and continue to track them. If we get an opportunity, we will leg into it. A lot of them are very interesting,” he adds.ARK isn’t the only one hesitant to jump into space SPACs. The space fund’s rival, the $129 million Procure Space ETF (UFO), also doesn’t own any SPACs. Unlike the actively managed ARK ETF, the Procure fund tracks an underlying index with predetermined rules that prohibit investments in SPACs before the merger is complete.“There is a tremendous risk to any SPAC,” Andrew Chanin, CEO of Procure ETFs, tells Barron’s. “That a target is announced and the deal doesn’t go through for a multitude of reasons. Then you are looking at a company that doesn’t have any space exposure other than a proposed target.”The Procure ETF has added newly public stocks to its holdings shortly after the SPAC merger was completed, such as space tourism pioneer Virgin Galactic (SPCE).The Procure ETF claims to be a “purer” play. More than 80% of its portfolio–per index mandate–has to be invested in companies whose majority revenues are derived from space-related businesses and activities. The remaining 20% are in diversified aerospace defense names such as Boeing (BA) and Lockheed Martin (LMT), which also generate a significant amount of revenue–albeit not the majority–from their space-related units.“Anyone can argue that almost every publicly traded company has some exposure to space, or space plays a role in that company’s ability to succeed,” says Chanin. “For us, it’s not about making nuanced arguments about how maybe a company could potentially benefit from space.”Differing ExposuresPercentage of portfolio in selected industries.Despite their differences, both funds share the same top holding, Trimble (TRMB), with an 8.6% weight in the ARK fund and a 5.2% weight in the Procure fund. The company is tapping into multiple space-related areas, offering software, data, and sensors for drones, as well as fleet management services for space construction and logistics.Procure’s space fund was launched in April 2019. It dipped 2% in 2020, while the S&P 500 returned 18.4%. Year to date, the Procure fund has gained 11.1%, beating the broader index by five percentage points.The ARK space fund finished its first trading day on Tuesday down 1%. The S&P 500 fell less than 1%.And although neither funds have exposure to space SPACs, investors can still own a piece of them by buying shares of their SPACs. Barron’s recently wrote positively about Rocket Labs, believing it’s the best option for growth investors looking for new space exposure. The company is already carrying payloads into space and has the ability to build and manage satellites.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":354586587,"gmtCreate":1617188449449,"gmtModify":1634522195565,"author":{"id":"3554888465013982","authorId":"3554888465013982","name":"HENG","avatar":"https://static.tigerbbs.com/0867d63e5741b16124579ed8b448843d","vip":1,"crmLevel":6,"crmLevelSwitch":0,"idStr":"3554888465013982","authorIdStr":"3554888465013982"},"htmlText":"Ya why ah unrelated... hmmm","listText":"Ya why ah unrelated... hmmm","text":"Ya why ah unrelated... hmmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/354586587","repostId":1126047060,"repostType":4,"repost":{"id":"1126047060","kind":"news","pubTimestamp":1617185695,"share":"https://www.laohu8.com/m/news/1126047060?lang=&edition=full","pubTime":"2021-03-31 18:14","market":"us","language":"en","title":"Why Cathie Wood’s Space ETF Has Some Unexpected Holdings","url":"https://stock-news.laohu8.com/highlight/detail?id=1126047060","media":"Barron's","summary":"The ARK Space Exploration & Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some surprises in the fund’s portfolio: Some popular firms in space-exploration related fields were not included, while other seemingly unrelated names–including half a dozen internet tech giants–make up a significant weight.That is because ARK’s space fund  isn’t limited to companies directly involved ","content":"<p>The ARK Space Exploration &amp; Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some surprises in the fund’s portfolio: Some popular firms in space-exploration related fields were not included, while other seemingly unrelated names–including half a dozen internet tech giants–make up a significant weight.</p><p>That is because ARK’s space fund (ticker: ARKX) isn’t limited to companies directly involved in the space business, but also other innovations that have indirectly enabled the space boom. The ETF owns Google parent Alphabet (ticker: GOOG), for example, because it’s a leader in artificial intelligence. NVIDIA (NVDA), another holding, manufactures computer chips that allow rockets to operate efficiently.</p><p>The fund’s second-largest position is another ARK product, the $548 million ARK 3D Printing ETF (PRNT). That’s because many rocket parts are 3D printed for reasons related to cost, weight, and durability, says Ren Leggi, client portfolio manager at ARK. To be sure, the 0.66% management fee of the ARK 3D Printing ETF is fully rebated back to ARKX investors. “We are not double dipping,” says Leggi, “You are not paying double-layer fees.”</p><p>The fund also holds companies that are well-positioned to benefit from the development in aerospace-related tech. E-commerce giants like Amazon.com (AMZN) and Alibaba (BABA) are included because they can save delivery costs and generate revenue from drones if that market matures and scales. Netflix (NFLX), another holding, could potentially unlock millions of new users as satellite broadband connects more people to the internet. “There are three billion people who do not have access to internet,” says Leggi. “Satellite connectivity opens up the market. It really is about anything above ground.”</p><p>Still, there is one glaring omission in the fund: It doesn’t hold any of the new pure-play space companies set to go public via mergers with special purpose acquisition companies, or SPACs.</p><p>Those options would include Rocket Lab USA and Astra, two launch service companies that are currently sending commercial payloads into low Earth orbit. The pair is merging with Vector Acquisition (VACQ) and Holicity (HOL), respectively. BlackSky and Spire Global, two earth imaging businesses, are merging with Osprey Technology Acquisition (SFWT) and NavSight (NSH), respectively.</p><p>Others include AST &amp; Science, which is merging with New Providence Acquisition (NPA). That company is putting up hundreds of satellites to provide mobile phone infrastructure. Momentus, along with Redwire, offer the infrastructure services supporting new commercial space players. Those two are merging with Stable Road Acquisition (SRAC) and Genesis Park Acquisition (GNPK), respectively.</p><p>The market capitalization of those seven companies is roughly $16 billion based on the number of shares outstanding for each after their SPAC mergers close. But none of those names are included in the ARK Space fund’s portfolio—at least not yet.</p><p>ARK is open to investing in SPACs if the merger target has already been identified, says Leggi, but they need to review more financial data than is typically provided in SPAC merger presentations.</p><p>High valuations have also caused ARK to wait on some names. “They fit our theme but from a valuation point, they don’t meet our hurdle rate for the next five years,” says Leggi, noting that the fund looks for companies that can provide investors with 15% annualized returns. “We will be patient and continue to track them. If we get an opportunity, we will leg into it. A lot of them are very interesting,” he adds.</p><p>ARK isn’t the only one hesitant to jump into space SPACs. The space fund’s rival, the $129 million Procure Space ETF (UFO), also doesn’t own any SPACs. Unlike the actively managed ARK ETF, the Procure fund tracks an underlying index with predetermined rules that prohibit investments in SPACs before the merger is complete.</p><p>“There is a tremendous risk to any SPAC,” Andrew Chanin, CEO of Procure ETFs, tells Barron’s. “That a target is announced and the deal doesn’t go through for a multitude of reasons. Then you are looking at a company that doesn’t have any space exposure other than a proposed target.”</p><p>The Procure ETF has added newly public stocks to its holdings shortly after the SPAC merger was completed, such as space tourism pioneer Virgin Galactic (SPCE).</p><p>The Procure ETF claims to be a “purer” play. More than 80% of its portfolio–per index mandate–has to be invested in companies whose majority revenues are derived from space-related businesses and activities. The remaining 20% are in diversified aerospace defense names such as Boeing (BA) and Lockheed Martin (LMT), which also generate a significant amount of revenue–albeit not the majority–from their space-related units.</p><p>“Anyone can argue that almost every publicly traded company has some exposure to space, or space plays a role in that company’s ability to succeed,” says Chanin. “For us, it’s not about making nuanced arguments about how maybe a company could potentially benefit from space.”</p><p><b>Differing Exposures</b></p><p>Percentage of portfolio in selected industries.</p><p><img src=\"https://static.tigerbbs.com/7610169c4e1c63baad57b034b647f2ef\" tg-width=\"1242\" tg-height=\"975\" referrerpolicy=\"no-referrer\">Despite their differences, both funds share the same top holding, Trimble (TRMB), with an 8.6% weight in the ARK fund and a 5.2% weight in the Procure fund. The company is tapping into multiple space-related areas, offering software, data, and sensors for drones, as well as fleet management services for space construction and logistics.</p><p>Procure’s space fund was launched in April 2019. It dipped 2% in 2020, while the S&amp;P 500 returned 18.4%. Year to date, the Procure fund has gained 11.1%, beating the broader index by five percentage points.</p><p>The ARK space fund finished its first trading day on Tuesday down 1%. The S&amp;P 500 fell less than 1%.</p><p>And although neither funds have exposure to space SPACs, investors can still own a piece of them by buying shares of their SPACs. Barron’s recently wrote positively about Rocket Labs, believing it’s the best option for growth investors looking for new space exposure. The company is already carrying payloads into space and has the ability to build and manage satellites.</p>","source":"lsy1610680873436","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Cathie Wood’s Space ETF Has Some Unexpected Holdings</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Cathie Wood’s Space ETF Has Some Unexpected Holdings\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-31 18:14 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/the-ark-space-etf-has-some-unexpected-holdings-51617150050?mod=hp_LEAD_1><strong>Barron's</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The ARK Space Exploration & Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some...</p>\n\n<a href=\"https://www.barrons.com/articles/the-ark-space-etf-has-some-unexpected-holdings-51617150050?mod=hp_LEAD_1\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/55e4b11e868aab2bd1399f8a1e0cd685","relate_stocks":{},"source_url":"https://www.barrons.com/articles/the-ark-space-etf-has-some-unexpected-holdings-51617150050?mod=hp_LEAD_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1126047060","content_text":"The ARK Space Exploration & Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some surprises in the fund’s portfolio: Some popular firms in space-exploration related fields were not included, while other seemingly unrelated names–including half a dozen internet tech giants–make up a significant weight.That is because ARK’s space fund (ticker: ARKX) isn’t limited to companies directly involved in the space business, but also other innovations that have indirectly enabled the space boom. The ETF owns Google parent Alphabet (ticker: GOOG), for example, because it’s a leader in artificial intelligence. NVIDIA (NVDA), another holding, manufactures computer chips that allow rockets to operate efficiently.The fund’s second-largest position is another ARK product, the $548 million ARK 3D Printing ETF (PRNT). That’s because many rocket parts are 3D printed for reasons related to cost, weight, and durability, says Ren Leggi, client portfolio manager at ARK. To be sure, the 0.66% management fee of the ARK 3D Printing ETF is fully rebated back to ARKX investors. “We are not double dipping,” says Leggi, “You are not paying double-layer fees.”The fund also holds companies that are well-positioned to benefit from the development in aerospace-related tech. E-commerce giants like Amazon.com (AMZN) and Alibaba (BABA) are included because they can save delivery costs and generate revenue from drones if that market matures and scales. Netflix (NFLX), another holding, could potentially unlock millions of new users as satellite broadband connects more people to the internet. “There are three billion people who do not have access to internet,” says Leggi. “Satellite connectivity opens up the market. It really is about anything above ground.”Still, there is one glaring omission in the fund: It doesn’t hold any of the new pure-play space companies set to go public via mergers with special purpose acquisition companies, or SPACs.Those options would include Rocket Lab USA and Astra, two launch service companies that are currently sending commercial payloads into low Earth orbit. The pair is merging with Vector Acquisition (VACQ) and Holicity (HOL), respectively. BlackSky and Spire Global, two earth imaging businesses, are merging with Osprey Technology Acquisition (SFWT) and NavSight (NSH), respectively.Others include AST & Science, which is merging with New Providence Acquisition (NPA). That company is putting up hundreds of satellites to provide mobile phone infrastructure. Momentus, along with Redwire, offer the infrastructure services supporting new commercial space players. Those two are merging with Stable Road Acquisition (SRAC) and Genesis Park Acquisition (GNPK), respectively.The market capitalization of those seven companies is roughly $16 billion based on the number of shares outstanding for each after their SPAC mergers close. But none of those names are included in the ARK Space fund’s portfolio—at least not yet.ARK is open to investing in SPACs if the merger target has already been identified, says Leggi, but they need to review more financial data than is typically provided in SPAC merger presentations.High valuations have also caused ARK to wait on some names. “They fit our theme but from a valuation point, they don’t meet our hurdle rate for the next five years,” says Leggi, noting that the fund looks for companies that can provide investors with 15% annualized returns. “We will be patient and continue to track them. If we get an opportunity, we will leg into it. A lot of them are very interesting,” he adds.ARK isn’t the only one hesitant to jump into space SPACs. The space fund’s rival, the $129 million Procure Space ETF (UFO), also doesn’t own any SPACs. Unlike the actively managed ARK ETF, the Procure fund tracks an underlying index with predetermined rules that prohibit investments in SPACs before the merger is complete.“There is a tremendous risk to any SPAC,” Andrew Chanin, CEO of Procure ETFs, tells Barron’s. “That a target is announced and the deal doesn’t go through for a multitude of reasons. Then you are looking at a company that doesn’t have any space exposure other than a proposed target.”The Procure ETF has added newly public stocks to its holdings shortly after the SPAC merger was completed, such as space tourism pioneer Virgin Galactic (SPCE).The Procure ETF claims to be a “purer” play. More than 80% of its portfolio–per index mandate–has to be invested in companies whose majority revenues are derived from space-related businesses and activities. The remaining 20% are in diversified aerospace defense names such as Boeing (BA) and Lockheed Martin (LMT), which also generate a significant amount of revenue–albeit not the majority–from their space-related units.“Anyone can argue that almost every publicly traded company has some exposure to space, or space plays a role in that company’s ability to succeed,” says Chanin. “For us, it’s not about making nuanced arguments about how maybe a company could potentially benefit from space.”Differing ExposuresPercentage of portfolio in selected industries.Despite their differences, both funds share the same top holding, Trimble (TRMB), with an 8.6% weight in the ARK fund and a 5.2% weight in the Procure fund. The company is tapping into multiple space-related areas, offering software, data, and sensors for drones, as well as fleet management services for space construction and logistics.Procure’s space fund was launched in April 2019. It dipped 2% in 2020, while the S&P 500 returned 18.4%. Year to date, the Procure fund has gained 11.1%, beating the broader index by five percentage points.The ARK space fund finished its first trading day on Tuesday down 1%. The S&P 500 fell less than 1%.And although neither funds have exposure to space SPACs, investors can still own a piece of them by buying shares of their SPACs. Barron’s recently wrote positively about Rocket Labs, believing it’s the best option for growth investors looking for new space exposure. The company is already carrying payloads into space and has the ability to build and manage satellites.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":354586116,"gmtCreate":1617188428235,"gmtModify":1634522195925,"author":{"id":"3569805243820041","authorId":"3569805243820041","name":"mcwood","avatar":"https://static.tigerbbs.com/899c12565f32e74966bd8f5ceac09f7c","vip":1,"crmLevel":7,"crmLevelSwitch":0,"idStr":"3569805243820041","authorIdStr":"3569805243820041"},"htmlText":"[得意]&nbsp;","listText":"[得意]&nbsp;","text":"[得意]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/354586116","repostId":1126047060,"repostType":4,"repost":{"id":"1126047060","kind":"news","pubTimestamp":1617185695,"share":"https://www.laohu8.com/m/news/1126047060?lang=&edition=full","pubTime":"2021-03-31 18:14","market":"us","language":"en","title":"Why Cathie Wood’s Space ETF Has Some Unexpected Holdings","url":"https://stock-news.laohu8.com/highlight/detail?id=1126047060","media":"Barron's","summary":"The ARK Space Exploration & Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some surprises in the fund’s portfolio: Some popular firms in space-exploration related fields were not included, while other seemingly unrelated names–including half a dozen internet tech giants–make up a significant weight.That is because ARK’s space fund  isn’t limited to companies directly involved ","content":"<p>The ARK Space Exploration &amp; Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some surprises in the fund’s portfolio: Some popular firms in space-exploration related fields were not included, while other seemingly unrelated names–including half a dozen internet tech giants–make up a significant weight.</p><p>That is because ARK’s space fund (ticker: ARKX) isn’t limited to companies directly involved in the space business, but also other innovations that have indirectly enabled the space boom. The ETF owns Google parent Alphabet (ticker: GOOG), for example, because it’s a leader in artificial intelligence. NVIDIA (NVDA), another holding, manufactures computer chips that allow rockets to operate efficiently.</p><p>The fund’s second-largest position is another ARK product, the $548 million ARK 3D Printing ETF (PRNT). That’s because many rocket parts are 3D printed for reasons related to cost, weight, and durability, says Ren Leggi, client portfolio manager at ARK. To be sure, the 0.66% management fee of the ARK 3D Printing ETF is fully rebated back to ARKX investors. “We are not double dipping,” says Leggi, “You are not paying double-layer fees.”</p><p>The fund also holds companies that are well-positioned to benefit from the development in aerospace-related tech. E-commerce giants like Amazon.com (AMZN) and Alibaba (BABA) are included because they can save delivery costs and generate revenue from drones if that market matures and scales. Netflix (NFLX), another holding, could potentially unlock millions of new users as satellite broadband connects more people to the internet. “There are three billion people who do not have access to internet,” says Leggi. “Satellite connectivity opens up the market. It really is about anything above ground.”</p><p>Still, there is one glaring omission in the fund: It doesn’t hold any of the new pure-play space companies set to go public via mergers with special purpose acquisition companies, or SPACs.</p><p>Those options would include Rocket Lab USA and Astra, two launch service companies that are currently sending commercial payloads into low Earth orbit. The pair is merging with Vector Acquisition (VACQ) and Holicity (HOL), respectively. BlackSky and Spire Global, two earth imaging businesses, are merging with Osprey Technology Acquisition (SFWT) and NavSight (NSH), respectively.</p><p>Others include AST &amp; Science, which is merging with New Providence Acquisition (NPA). That company is putting up hundreds of satellites to provide mobile phone infrastructure. Momentus, along with Redwire, offer the infrastructure services supporting new commercial space players. Those two are merging with Stable Road Acquisition (SRAC) and Genesis Park Acquisition (GNPK), respectively.</p><p>The market capitalization of those seven companies is roughly $16 billion based on the number of shares outstanding for each after their SPAC mergers close. But none of those names are included in the ARK Space fund’s portfolio—at least not yet.</p><p>ARK is open to investing in SPACs if the merger target has already been identified, says Leggi, but they need to review more financial data than is typically provided in SPAC merger presentations.</p><p>High valuations have also caused ARK to wait on some names. “They fit our theme but from a valuation point, they don’t meet our hurdle rate for the next five years,” says Leggi, noting that the fund looks for companies that can provide investors with 15% annualized returns. “We will be patient and continue to track them. If we get an opportunity, we will leg into it. A lot of them are very interesting,” he adds.</p><p>ARK isn’t the only one hesitant to jump into space SPACs. The space fund’s rival, the $129 million Procure Space ETF (UFO), also doesn’t own any SPACs. Unlike the actively managed ARK ETF, the Procure fund tracks an underlying index with predetermined rules that prohibit investments in SPACs before the merger is complete.</p><p>“There is a tremendous risk to any SPAC,” Andrew Chanin, CEO of Procure ETFs, tells Barron’s. “That a target is announced and the deal doesn’t go through for a multitude of reasons. Then you are looking at a company that doesn’t have any space exposure other than a proposed target.”</p><p>The Procure ETF has added newly public stocks to its holdings shortly after the SPAC merger was completed, such as space tourism pioneer Virgin Galactic (SPCE).</p><p>The Procure ETF claims to be a “purer” play. More than 80% of its portfolio–per index mandate–has to be invested in companies whose majority revenues are derived from space-related businesses and activities. The remaining 20% are in diversified aerospace defense names such as Boeing (BA) and Lockheed Martin (LMT), which also generate a significant amount of revenue–albeit not the majority–from their space-related units.</p><p>“Anyone can argue that almost every publicly traded company has some exposure to space, or space plays a role in that company’s ability to succeed,” says Chanin. “For us, it’s not about making nuanced arguments about how maybe a company could potentially benefit from space.”</p><p><b>Differing Exposures</b></p><p>Percentage of portfolio in selected industries.</p><p><img src=\"https://static.tigerbbs.com/7610169c4e1c63baad57b034b647f2ef\" tg-width=\"1242\" tg-height=\"975\" referrerpolicy=\"no-referrer\">Despite their differences, both funds share the same top holding, Trimble (TRMB), with an 8.6% weight in the ARK fund and a 5.2% weight in the Procure fund. The company is tapping into multiple space-related areas, offering software, data, and sensors for drones, as well as fleet management services for space construction and logistics.</p><p>Procure’s space fund was launched in April 2019. It dipped 2% in 2020, while the S&amp;P 500 returned 18.4%. Year to date, the Procure fund has gained 11.1%, beating the broader index by five percentage points.</p><p>The ARK space fund finished its first trading day on Tuesday down 1%. The S&amp;P 500 fell less than 1%.</p><p>And although neither funds have exposure to space SPACs, investors can still own a piece of them by buying shares of their SPACs. Barron’s recently wrote positively about Rocket Labs, believing it’s the best option for growth investors looking for new space exposure. The company is already carrying payloads into space and has the ability to build and manage satellites.</p>","source":"lsy1610680873436","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Cathie Wood’s Space ETF Has Some Unexpected Holdings</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Cathie Wood’s Space ETF Has Some Unexpected Holdings\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-31 18:14 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/the-ark-space-etf-has-some-unexpected-holdings-51617150050?mod=hp_LEAD_1><strong>Barron's</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The ARK Space Exploration & Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some...</p>\n\n<a href=\"https://www.barrons.com/articles/the-ark-space-etf-has-some-unexpected-holdings-51617150050?mod=hp_LEAD_1\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/55e4b11e868aab2bd1399f8a1e0cd685","relate_stocks":{},"source_url":"https://www.barrons.com/articles/the-ark-space-etf-has-some-unexpected-holdings-51617150050?mod=hp_LEAD_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1126047060","content_text":"The ARK Space Exploration & Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some surprises in the fund’s portfolio: Some popular firms in space-exploration related fields were not included, while other seemingly unrelated names–including half a dozen internet tech giants–make up a significant weight.That is because ARK’s space fund (ticker: ARKX) isn’t limited to companies directly involved in the space business, but also other innovations that have indirectly enabled the space boom. The ETF owns Google parent Alphabet (ticker: GOOG), for example, because it’s a leader in artificial intelligence. NVIDIA (NVDA), another holding, manufactures computer chips that allow rockets to operate efficiently.The fund’s second-largest position is another ARK product, the $548 million ARK 3D Printing ETF (PRNT). That’s because many rocket parts are 3D printed for reasons related to cost, weight, and durability, says Ren Leggi, client portfolio manager at ARK. To be sure, the 0.66% management fee of the ARK 3D Printing ETF is fully rebated back to ARKX investors. “We are not double dipping,” says Leggi, “You are not paying double-layer fees.”The fund also holds companies that are well-positioned to benefit from the development in aerospace-related tech. E-commerce giants like Amazon.com (AMZN) and Alibaba (BABA) are included because they can save delivery costs and generate revenue from drones if that market matures and scales. Netflix (NFLX), another holding, could potentially unlock millions of new users as satellite broadband connects more people to the internet. “There are three billion people who do not have access to internet,” says Leggi. “Satellite connectivity opens up the market. It really is about anything above ground.”Still, there is one glaring omission in the fund: It doesn’t hold any of the new pure-play space companies set to go public via mergers with special purpose acquisition companies, or SPACs.Those options would include Rocket Lab USA and Astra, two launch service companies that are currently sending commercial payloads into low Earth orbit. The pair is merging with Vector Acquisition (VACQ) and Holicity (HOL), respectively. BlackSky and Spire Global, two earth imaging businesses, are merging with Osprey Technology Acquisition (SFWT) and NavSight (NSH), respectively.Others include AST & Science, which is merging with New Providence Acquisition (NPA). That company is putting up hundreds of satellites to provide mobile phone infrastructure. Momentus, along with Redwire, offer the infrastructure services supporting new commercial space players. Those two are merging with Stable Road Acquisition (SRAC) and Genesis Park Acquisition (GNPK), respectively.The market capitalization of those seven companies is roughly $16 billion based on the number of shares outstanding for each after their SPAC mergers close. But none of those names are included in the ARK Space fund’s portfolio—at least not yet.ARK is open to investing in SPACs if the merger target has already been identified, says Leggi, but they need to review more financial data than is typically provided in SPAC merger presentations.High valuations have also caused ARK to wait on some names. “They fit our theme but from a valuation point, they don’t meet our hurdle rate for the next five years,” says Leggi, noting that the fund looks for companies that can provide investors with 15% annualized returns. “We will be patient and continue to track them. If we get an opportunity, we will leg into it. A lot of them are very interesting,” he adds.ARK isn’t the only one hesitant to jump into space SPACs. The space fund’s rival, the $129 million Procure Space ETF (UFO), also doesn’t own any SPACs. Unlike the actively managed ARK ETF, the Procure fund tracks an underlying index with predetermined rules that prohibit investments in SPACs before the merger is complete.“There is a tremendous risk to any SPAC,” Andrew Chanin, CEO of Procure ETFs, tells Barron’s. “That a target is announced and the deal doesn’t go through for a multitude of reasons. Then you are looking at a company that doesn’t have any space exposure other than a proposed target.”The Procure ETF has added newly public stocks to its holdings shortly after the SPAC merger was completed, such as space tourism pioneer Virgin Galactic (SPCE).The Procure ETF claims to be a “purer” play. More than 80% of its portfolio–per index mandate–has to be invested in companies whose majority revenues are derived from space-related businesses and activities. The remaining 20% are in diversified aerospace defense names such as Boeing (BA) and Lockheed Martin (LMT), which also generate a significant amount of revenue–albeit not the majority–from their space-related units.“Anyone can argue that almost every publicly traded company has some exposure to space, or space plays a role in that company’s ability to succeed,” says Chanin. “For us, it’s not about making nuanced arguments about how maybe a company could potentially benefit from space.”Differing ExposuresPercentage of portfolio in selected industries.Despite their differences, both funds share the same top holding, Trimble (TRMB), with an 8.6% weight in the ARK fund and a 5.2% weight in the Procure fund. The company is tapping into multiple space-related areas, offering software, data, and sensors for drones, as well as fleet management services for space construction and logistics.Procure’s space fund was launched in April 2019. It dipped 2% in 2020, while the S&P 500 returned 18.4%. Year to date, the Procure fund has gained 11.1%, beating the broader index by five percentage points.The ARK space fund finished its first trading day on Tuesday down 1%. The S&P 500 fell less than 1%.And although neither funds have exposure to space SPACs, investors can still own a piece of them by buying shares of their SPACs. Barron’s recently wrote positively about Rocket Labs, believing it’s the best option for growth investors looking for new space exposure. The company is already carrying payloads into space and has the ability to build and manage satellites.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":354586370,"gmtCreate":1617188425290,"gmtModify":1634522196045,"author":{"id":"3580167745953673","authorId":"3580167745953673","name":"DevilBee","avatar":"https://static.tigerbbs.com/cf9de4c199749db378322d4aa57b1a05","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3580167745953673","authorIdStr":"3580167745953673"},"htmlText":"For like and comment","listText":"For like and comment","text":"For like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/354586370","repostId":1126047060,"repostType":4,"repost":{"id":"1126047060","kind":"news","pubTimestamp":1617185695,"share":"https://www.laohu8.com/m/news/1126047060?lang=&edition=full","pubTime":"2021-03-31 18:14","market":"us","language":"en","title":"Why Cathie Wood’s Space ETF Has Some Unexpected Holdings","url":"https://stock-news.laohu8.com/highlight/detail?id=1126047060","media":"Barron's","summary":"The ARK Space Exploration & Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some surprises in the fund’s portfolio: Some popular firms in space-exploration related fields were not included, while other seemingly unrelated names–including half a dozen internet tech giants–make up a significant weight.That is because ARK’s space fund  isn’t limited to companies directly involved ","content":"<p>The ARK Space Exploration &amp; Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some surprises in the fund’s portfolio: Some popular firms in space-exploration related fields were not included, while other seemingly unrelated names–including half a dozen internet tech giants–make up a significant weight.</p><p>That is because ARK’s space fund (ticker: ARKX) isn’t limited to companies directly involved in the space business, but also other innovations that have indirectly enabled the space boom. The ETF owns Google parent Alphabet (ticker: GOOG), for example, because it’s a leader in artificial intelligence. NVIDIA (NVDA), another holding, manufactures computer chips that allow rockets to operate efficiently.</p><p>The fund’s second-largest position is another ARK product, the $548 million ARK 3D Printing ETF (PRNT). That’s because many rocket parts are 3D printed for reasons related to cost, weight, and durability, says Ren Leggi, client portfolio manager at ARK. To be sure, the 0.66% management fee of the ARK 3D Printing ETF is fully rebated back to ARKX investors. “We are not double dipping,” says Leggi, “You are not paying double-layer fees.”</p><p>The fund also holds companies that are well-positioned to benefit from the development in aerospace-related tech. E-commerce giants like Amazon.com (AMZN) and Alibaba (BABA) are included because they can save delivery costs and generate revenue from drones if that market matures and scales. Netflix (NFLX), another holding, could potentially unlock millions of new users as satellite broadband connects more people to the internet. “There are three billion people who do not have access to internet,” says Leggi. “Satellite connectivity opens up the market. It really is about anything above ground.”</p><p>Still, there is one glaring omission in the fund: It doesn’t hold any of the new pure-play space companies set to go public via mergers with special purpose acquisition companies, or SPACs.</p><p>Those options would include Rocket Lab USA and Astra, two launch service companies that are currently sending commercial payloads into low Earth orbit. The pair is merging with Vector Acquisition (VACQ) and Holicity (HOL), respectively. BlackSky and Spire Global, two earth imaging businesses, are merging with Osprey Technology Acquisition (SFWT) and NavSight (NSH), respectively.</p><p>Others include AST &amp; Science, which is merging with New Providence Acquisition (NPA). That company is putting up hundreds of satellites to provide mobile phone infrastructure. Momentus, along with Redwire, offer the infrastructure services supporting new commercial space players. Those two are merging with Stable Road Acquisition (SRAC) and Genesis Park Acquisition (GNPK), respectively.</p><p>The market capitalization of those seven companies is roughly $16 billion based on the number of shares outstanding for each after their SPAC mergers close. But none of those names are included in the ARK Space fund’s portfolio—at least not yet.</p><p>ARK is open to investing in SPACs if the merger target has already been identified, says Leggi, but they need to review more financial data than is typically provided in SPAC merger presentations.</p><p>High valuations have also caused ARK to wait on some names. “They fit our theme but from a valuation point, they don’t meet our hurdle rate for the next five years,” says Leggi, noting that the fund looks for companies that can provide investors with 15% annualized returns. “We will be patient and continue to track them. If we get an opportunity, we will leg into it. A lot of them are very interesting,” he adds.</p><p>ARK isn’t the only one hesitant to jump into space SPACs. The space fund’s rival, the $129 million Procure Space ETF (UFO), also doesn’t own any SPACs. Unlike the actively managed ARK ETF, the Procure fund tracks an underlying index with predetermined rules that prohibit investments in SPACs before the merger is complete.</p><p>“There is a tremendous risk to any SPAC,” Andrew Chanin, CEO of Procure ETFs, tells Barron’s. “That a target is announced and the deal doesn’t go through for a multitude of reasons. Then you are looking at a company that doesn’t have any space exposure other than a proposed target.”</p><p>The Procure ETF has added newly public stocks to its holdings shortly after the SPAC merger was completed, such as space tourism pioneer Virgin Galactic (SPCE).</p><p>The Procure ETF claims to be a “purer” play. More than 80% of its portfolio–per index mandate–has to be invested in companies whose majority revenues are derived from space-related businesses and activities. The remaining 20% are in diversified aerospace defense names such as Boeing (BA) and Lockheed Martin (LMT), which also generate a significant amount of revenue–albeit not the majority–from their space-related units.</p><p>“Anyone can argue that almost every publicly traded company has some exposure to space, or space plays a role in that company’s ability to succeed,” says Chanin. “For us, it’s not about making nuanced arguments about how maybe a company could potentially benefit from space.”</p><p><b>Differing Exposures</b></p><p>Percentage of portfolio in selected industries.</p><p><img src=\"https://static.tigerbbs.com/7610169c4e1c63baad57b034b647f2ef\" tg-width=\"1242\" tg-height=\"975\" referrerpolicy=\"no-referrer\">Despite their differences, both funds share the same top holding, Trimble (TRMB), with an 8.6% weight in the ARK fund and a 5.2% weight in the Procure fund. The company is tapping into multiple space-related areas, offering software, data, and sensors for drones, as well as fleet management services for space construction and logistics.</p><p>Procure’s space fund was launched in April 2019. It dipped 2% in 2020, while the S&amp;P 500 returned 18.4%. Year to date, the Procure fund has gained 11.1%, beating the broader index by five percentage points.</p><p>The ARK space fund finished its first trading day on Tuesday down 1%. The S&amp;P 500 fell less than 1%.</p><p>And although neither funds have exposure to space SPACs, investors can still own a piece of them by buying shares of their SPACs. Barron’s recently wrote positively about Rocket Labs, believing it’s the best option for growth investors looking for new space exposure. The company is already carrying payloads into space and has the ability to build and manage satellites.</p>","source":"lsy1610680873436","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Cathie Wood’s Space ETF Has Some Unexpected Holdings</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Cathie Wood’s Space ETF Has Some Unexpected Holdings\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-31 18:14 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/the-ark-space-etf-has-some-unexpected-holdings-51617150050?mod=hp_LEAD_1><strong>Barron's</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The ARK Space Exploration & Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some...</p>\n\n<a href=\"https://www.barrons.com/articles/the-ark-space-etf-has-some-unexpected-holdings-51617150050?mod=hp_LEAD_1\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/55e4b11e868aab2bd1399f8a1e0cd685","relate_stocks":{},"source_url":"https://www.barrons.com/articles/the-ark-space-etf-has-some-unexpected-holdings-51617150050?mod=hp_LEAD_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1126047060","content_text":"The ARK Space Exploration & Innovation exchange-traded fund –the eighth fund from Cathie Wood’s ARK Investment Management–attracted a lot of eyeballs at its launch on Tuesday. But investors found some surprises in the fund’s portfolio: Some popular firms in space-exploration related fields were not included, while other seemingly unrelated names–including half a dozen internet tech giants–make up a significant weight.That is because ARK’s space fund (ticker: ARKX) isn’t limited to companies directly involved in the space business, but also other innovations that have indirectly enabled the space boom. The ETF owns Google parent Alphabet (ticker: GOOG), for example, because it’s a leader in artificial intelligence. NVIDIA (NVDA), another holding, manufactures computer chips that allow rockets to operate efficiently.The fund’s second-largest position is another ARK product, the $548 million ARK 3D Printing ETF (PRNT). That’s because many rocket parts are 3D printed for reasons related to cost, weight, and durability, says Ren Leggi, client portfolio manager at ARK. To be sure, the 0.66% management fee of the ARK 3D Printing ETF is fully rebated back to ARKX investors. “We are not double dipping,” says Leggi, “You are not paying double-layer fees.”The fund also holds companies that are well-positioned to benefit from the development in aerospace-related tech. E-commerce giants like Amazon.com (AMZN) and Alibaba (BABA) are included because they can save delivery costs and generate revenue from drones if that market matures and scales. Netflix (NFLX), another holding, could potentially unlock millions of new users as satellite broadband connects more people to the internet. “There are three billion people who do not have access to internet,” says Leggi. “Satellite connectivity opens up the market. It really is about anything above ground.”Still, there is one glaring omission in the fund: It doesn’t hold any of the new pure-play space companies set to go public via mergers with special purpose acquisition companies, or SPACs.Those options would include Rocket Lab USA and Astra, two launch service companies that are currently sending commercial payloads into low Earth orbit. The pair is merging with Vector Acquisition (VACQ) and Holicity (HOL), respectively. BlackSky and Spire Global, two earth imaging businesses, are merging with Osprey Technology Acquisition (SFWT) and NavSight (NSH), respectively.Others include AST & Science, which is merging with New Providence Acquisition (NPA). That company is putting up hundreds of satellites to provide mobile phone infrastructure. Momentus, along with Redwire, offer the infrastructure services supporting new commercial space players. Those two are merging with Stable Road Acquisition (SRAC) and Genesis Park Acquisition (GNPK), respectively.The market capitalization of those seven companies is roughly $16 billion based on the number of shares outstanding for each after their SPAC mergers close. But none of those names are included in the ARK Space fund’s portfolio—at least not yet.ARK is open to investing in SPACs if the merger target has already been identified, says Leggi, but they need to review more financial data than is typically provided in SPAC merger presentations.High valuations have also caused ARK to wait on some names. “They fit our theme but from a valuation point, they don’t meet our hurdle rate for the next five years,” says Leggi, noting that the fund looks for companies that can provide investors with 15% annualized returns. “We will be patient and continue to track them. If we get an opportunity, we will leg into it. A lot of them are very interesting,” he adds.ARK isn’t the only one hesitant to jump into space SPACs. The space fund’s rival, the $129 million Procure Space ETF (UFO), also doesn’t own any SPACs. Unlike the actively managed ARK ETF, the Procure fund tracks an underlying index with predetermined rules that prohibit investments in SPACs before the merger is complete.“There is a tremendous risk to any SPAC,” Andrew Chanin, CEO of Procure ETFs, tells Barron’s. “That a target is announced and the deal doesn’t go through for a multitude of reasons. Then you are looking at a company that doesn’t have any space exposure other than a proposed target.”The Procure ETF has added newly public stocks to its holdings shortly after the SPAC merger was completed, such as space tourism pioneer Virgin Galactic (SPCE).The Procure ETF claims to be a “purer” play. More than 80% of its portfolio–per index mandate–has to be invested in companies whose majority revenues are derived from space-related businesses and activities. The remaining 20% are in diversified aerospace defense names such as Boeing (BA) and Lockheed Martin (LMT), which also generate a significant amount of revenue–albeit not the majority–from their space-related units.“Anyone can argue that almost every publicly traded company has some exposure to space, or space plays a role in that company’s ability to succeed,” says Chanin. “For us, it’s not about making nuanced arguments about how maybe a company could potentially benefit from space.”Differing ExposuresPercentage of portfolio in selected industries.Despite their differences, both funds share the same top holding, Trimble (TRMB), with an 8.6% weight in the ARK fund and a 5.2% weight in the Procure fund. The company is tapping into multiple space-related areas, offering software, data, and sensors for drones, as well as fleet management services for space construction and logistics.Procure’s space fund was launched in April 2019. It dipped 2% in 2020, while the S&P 500 returned 18.4%. Year to date, the Procure fund has gained 11.1%, beating the broader index by five percentage points.The ARK space fund finished its first trading day on Tuesday down 1%. The S&P 500 fell less than 1%.And although neither funds have exposure to space SPACs, investors can still own a piece of them by buying shares of their SPACs. Barron’s recently wrote positively about Rocket Labs, believing it’s the best option for growth investors looking for new space exposure. The company is already carrying payloads into space and has the ability to build and manage satellites.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3930192,"gmtCreate":1617190360715,"gmtModify":1631894488156,"authorId":3561968672800218,"author":{"id":3561968672800218,"idStr":"3561968672800218","authorId":3561968672800218,"name":"Yuyu37","avatar":"https://static.tigerbbs.com/ec5f43710340fa5d467d1e7a6647dbcf","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":354586370,"type":1,"supId":0,"prevId":0,"content":"Okk","text":"Okk","html":"Okk"},{"id":3930191,"gmtCreate":1617190355091,"gmtModify":1631894488147,"authorId":3580167745953673,"author":{"id":3580167745953673,"idStr":"3580167745953673","authorId":3580167745953673,"name":"DevilBee","avatar":"https://static.tigerbbs.com/cf9de4c199749db378322d4aa57b1a05","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":354586370,"type":1,"supId":0,"prevId":0,"content":"comment n <u>lkt</u>","text":"comment n <u>lkt</u>","html":"comment n <u>lkt</u>"},{"id":3930033,"gmtCreate":1617188531810,"gmtModify":1631894488138,"authorId":3577523199494654,"author":{"id":3577523199494654,"idStr":"3577523199494654","authorId":3577523199494654,"name":"88huat","avatar":"https://static.tigerbbs.com/25dd805cbb44e8ac7c9eb01650c81b9f","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":354586370,"type":1,"supId":0,"prevId":0,"content":"Pls comment on mine too :)","text":"Pls comment on mine too :)","html":"Pls comment on mine too :)"}],"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":84,"commentSize":22,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}