Fresh off the excitement surrounding SpaceX’s record-setting $75 billion initial public offering, two investment firms are racing to be first to market with exchange-traded funds built around a new AI-themed stock grouping that has taken Wall Street by storm.
Yorkville America — the company behind the Truth Social ETF franchise — and industry newcomer Corgi Securities each submitted separate filings late Monday with the U.S. Securities and Exchange Commission seeking approval for funds tied to the so-called “MANGOS” acronym. The term has been spreading rapidly across X and other social media platforms in the lead-up to the SpaceX IPO.
“MANGOS” is being positioned as a potential successor to the “Magnificent 7” as a shorthand way for investors to track the biggest names in artificial intelligence. The acronym covers four publicly traded companies — Meta Platforms, Nvidia, Alphabet’s Google, and SpaceX — along with two privately held firms, Anthropic and OpenAI, all of which have deep ties to AI technology.
Dan Sotiroff, an analyst at Morningstar, said the swift filings reflect just how fast the ETF industry is moving. “This tells you just how rapidly the product development cycle is moving in the ETF industry right now,” he said. “This is going to be even more concentrated than the Magnificent 7, and just as important, it’s going to be heavily exposed to the big IPOs of the year.”
Yorkville did not respond to requests for comment. Its filing outlines plans for a fund called the Mango Plus ETF, along with an income-generating variation. The portfolio would draw from the core MANGOS stocks as well as seven additional companies — including Micron and SanDisk — that Yorkville believes stand to benefit from the growth of AI. The firm has labeled that secondary group the “Parabolic 7.”
Corgi Securities, by contrast, plans to limit its fund to only the six core MANGOS stocks. Ed Rumell, who heads ETF distribution for the firm, declined to discuss specifics, citing SEC rules that restrict public comment while a filing is pending.
Under current SEC guidelines, both funds could potentially launch before the end of August.
