Yorkville America, the asset manager behind Truth Social-branded exchange-traded funds, said on Monday it is nearing completion of its first major acquisition and will launch a new AI-focused ETF this week, marking a strategic pivot beyond its flagship political themes.
The company expects to finalize the purchase of an institutional asset management firm in September, according to CEO Steve Neamtz. He declined to name the target, citing ongoing negotiations, but described it as a firm primarily engaged in separately managed accounts for individual investors. The acquisition is intended to broaden Yorkville’s product range, which has been centered on "America First" ETFs under the Truth Social label.
On the same day, Yorkville launched the MANGOS Plus Index ETF, listed on both the New York Stock Exchange and the exchange’s new Texas division, NYSE Texas. The fund is the first Yorkville product not associated with the Truth Social brand and is positioned in the firm’s digital and crypto category, Neamtz said. The ETF tracks a basket of AI-linked stocks, including Meta, Anthropic, Nvidia, Alphabet, OpenAI, and SpaceX, alongside other AI-themed holdings such as Micron and SanDisk.
To gain exposure to pre-IPO companies Anthropic and OpenAI, the fund will use perpetual futures contracts—derivatives that track an asset’s price without an expiration date. Neamtz described the MANGOS Plus Index ETF as the first launch in Yorkville’s digital and crypto product line, signaling a shift toward broader thematic strategies.
Yorkville has also filed to launch a dozen additional ETFs in the coming weeks and months, covering digital economy and macro strategies. The moves follow the firm’s November 2023 launch of the Tech Titans strategy, which reflects a broader industry trend toward AI and technology-focused thematic funds.
The developments come as Yorkville seeks to expand beyond its political ETF niche, which has included funds tied to former President Donald Trump’s Truth Social platform. The acquisition and new product launches underscore the firm’s ambition to diversify its offerings while maintaining a focus on high-growth sectors such as artificial intelligence and digital innovation.
