저자: DividendBlasters진행자 · 외국인
요약 보기
빌 애크먼(Pershing Square) 투자 철학과 Vista Shares의 커버드콜 ETF 'AKY'(Target 15 시리즈)를 소개. 빌 애크먼 상장 펀드 PSH는 연초 대비 약 27%, S&P500 약 10.75%로 언급. AKY는 펀드 보유 종목 복제 및 옵션 오버레이 전략으로 월분배 목표 연 15%(월 약 1.25%)를 제시. 분배금 지급 방식의 안정성과 NAV 잠식 여부를 강조. 영상 내 투자 권유 아님을 고지하며 시청자 자체 리서치를 권장. 스폰서(Seeking Alpha) 구독 할인 광고 포함.
다듬은 글
Hello, greetings. Welcome to Dividend Blasters. This is our 101st video and our topic today is invest like a legend, Bill Aman. And while you're doing it, get a quality monthly distribution with Aki. Aki is a new covered call ETF just launched today by Vista Shares. This shares I would say is a a fairly innovative asset management firm, an investment firm and uh uh they're doing some really interesting things over there.
So let's press on. First, what is the objective? Let's talk a little bit about this exciting new target 15 covered call ETF from Vista Shares. Target 15 is a family of ETFs with option overlays uh managed by Vista Shares. There are now three of them uh and I'll talk a little bit more about those but basically they are replicating very prominent investment managers um with the same holdings but they're offering a distribution through uh a covered call strategy or an option overlay strategy.
We're going to get into that. First a little disclaimer. What I tell you is not financial advice. This video is for information and education. reflects my own personal opinions, research, and experience as an independent investor for more than 30 years. So, do your own research, your own due diligence, and consult a financial adviser prior to making any major financial investment decision.
So, who is Bill Aman? Bill Aman is the CEO of Persing Square Capital Management. Persing Square Capital Management is a big investment firm. They're a hedge fund headquartered in New York City. Uh they are privately held. They have about $21 billion almost in assets under management. Bill Aman has a personal net worth of almost $9.5 billion.
Bill Aman is not an old man. He is not even 60 years old. Uh but he is a worldrenowned investor. He's as close to Warren Buffett as you can get. He's really quite amazing. Wait, let's keep pressing on. So, you know, if you want to get a little bit of insight into Persian Square Capital Management and and what they do, you need to perhaps take a look at one of the subsidiaries that account for about 18.5 billion of their assets under management.
And it's Persing Square Holdings, uh, which is actively traded not, uh, on the New York Stock Exchange or NASDAQ, but on the London Stock Exchange. here. It's traded over the counter. Um, and I, as I mentioned, uh, they account for about 18 and a half billion dollars, uh, of the assets under management.
Very well-known, very wellrespected, uh, company. Um, and I'm going to talk to you a little bit about how they've been doing. If you wanted to compare them to the S&P 500, take a look at how they do year-to- date. um basically uh almost three times the total return of this S&P 500. So year to date a little more than 27% S&P 500 is about 10 and 3/4%.
You want to stretch that out about three years about 90% total return. Persing Square Holdings S&P 500 about 60%. So that's all I'm going to, you know, I'm not going to get too much into them because I want to talk a little bit more about Bill Aman and what his philosophy is. And I'm going to talk a little bit about Aki.
Let's talk a little bit more about Bill Aman. Bill Aman is known as an activist investor. And sometimes when we hear the the term activist, oh wow, he's a political activist, you know, he's looking to overthrow. No, that's not it. He's really more of a business activist. Uh, and his mission I would describe as someone who targets underperforming companies uh buy significant shares uh or stake in a company uh to gain some measure of control uh and to influence behavior to unlock shareholder value.
That's really what he's about. And if you think about that, if you are an investor in any of these companies that he does this, he's actually doing you a public service. Um, it's it's really quite amazing and I admire the guy. I really do. And you know he does it by you know buying shares maybe getting an ownership or some kind of plurality uh ownership uh if it's not majority ownership in the company securing board seats advocate advocating for change uh and and compelling change uh to improve uh performance and it's really at all a benefit uh to the shareholders and he's done this a number of times and it's not for him it's not about gaining control of a company and taking it over.
It's more about getting a company to perform better and drive uh increased shareholder value, which I think is fantastic. Uh you know, he's done this a few times with uh a few companies, MBIA, Target, JC Penney, Connecticut, Canadian Pacific Railway, Herbal Life, and this is just a handful of them. Uh so something to think about.
So, let's talk about Aggie, the new covered call ETF by Vista Shares. And as I mentioned, uh, you know, uh, these guys are going to replicate, uh, the holdings of Persian Square. Now, they aren't affiliated with them, uh, but they're replicating the holdings and through an option overlay strategy, they're going to deliver a monthly distribution.
And they're doing this on two other cover call ETFs and they're doing successfully. Uh and just full disclosure, I own uh both of them. Uh and I'm I'm I'm very pleased with those investments. Uh the other two are OMA, which is the Vista Shares Target 15, Berkshire Select Income ETF. It replicates Berkshire Hathaway, Warren Buffett's company.
Uh and then there's another one, QSUSA, Vista Shares Target 15, USA Quality Income ETF. These basically are uh investing in uh quality US-based companies uh that are very safe uh and have very predictable uh dividends and not not a lot of volatility uh and so they're delivering um you know predictable uh distributions monthly uh through Qusa is the new one.
The other two um these are not uh covered call ETFs. These are ETFs that have more of a growth focus. Uh I've actually done a video on wild uh that is really more about momentum investing and investing in really the top five uh publicly traded companies by trading volume and and rotating uh them monthly by volume.
Um and and that to me has done a very good job. And then there is uh a super cycle uh growth ETF around artificial intelligence or AIS. Uh and I'm very pleased with that. It's really a pure play on uh general artificial intelligence holdings. But anyway, let's talk a little bit more about the target 15 option income ETF.
So basically I I mentioned quality value, low volatility, a little bit of momentum targeting famous managers. I mentioned Warren Buffett, mentioning Bill Aman and and really the nice thing about is in addition to the replication of the top holdings of Berkshire Hathway or Persing Square, they are delivering delivering through an option overlay strategy uh a monthly distribution with a target of 15% annually.
Uh, and it's approximating one and a quarter% monthly. Now, is it going to be one and a quarter percent exactly every month? No. I mean, some months it may be a little bit more, some months it may be a little bit less. They're going to do what makes sense. Uh, and I like that because it's really all about stability and predictability.
And if you listen to my videos, you know I'm all about stability with a covered call ETF. I want a stable uh net asset value or NAV. uh and I don't see any evidence that of the other two uh covered call ETFs uh that they manage that there is any indication of NV erosion or decay very stable uh they're doing this by selling strategically out of the money calls uh and I think that is smart uh and that's what I do when I sell uh covered call options uh on stock and uh I I look for covered call ETFs that do just that.
So, Aki, as I mentioned, launched today. It uh opened at a little over $19.90 a share. Um and it closed at $20.17. So, not bad. Not bad at all. Um ticker symbol AC Ky. So, here's a little bit more information. uh and it's not yet available on Seeking Alpha, but no surprise, the net asset value is around $20.
Uh there's a monthly distribution. The expense ratio, very much like the other two uh covered call ETFs, is 95 basis points. Now, you know, with covered call ETFs, these tend to be a little bit pricier, but remember, when you have this option overlay strategy, uh you're going to get a little bit of extra uh in your return.
You need to pay for that. And these guys are working hard because they're selling covered call options. 36 holdings alto together. I'm going to share with you in just a bit what the top 10 are. But before I do, let's just read what their description is. And this comes right from Vista Shares website.
provide core equity exposure through a systematic selection process that mirrors Persing Square Capital's publicly disclosed holdings while seeking to generate high monthly income through an options-based investment strategy. And as I mentioned, targeting 15% annual income uh distributed monthly. They're not affiliated with Persing Square Capital or or Bill Aman.
Uh but they're replicating his strategy. And you know what? If you're going to replicate somebody, replicate the very best. Uh, these are their top 10 holdings here, but actually, let's go to the next page. I blown it out a little bit. It's a little easier to read. Uh, the top 10. Uber Holdings, 20%.
Brookfield Corporation, 18 and a3%. Restaurant Brands International, Howard Hughes Holdings, Amazon. You can't get much better than these. Uh, Alphabet Class C, uh, Chipotle, uh, Alphabet Class A. Both of the Googles, Hilton and Hertz. Those are the top 10. I tell you, I like what I see. Uh, the management team.
Um, you know, I I I know these uh I know their names. These guys are very u well respected in the industry. Adam Patty is the CEO. He's been in the investment industry for I want to say uh three decades. He's been around uh has had a very successful career. Uh John McNeel, he actually he's been in business for a long time.
He's a former president of Tesla, so he's been around as well. Um you know, these guys are very respectable uh investment professionals. I feel very comfortable with them. And let's just talk a little bit about and Q USA and how they've been doing. Just to give you a little background like uh Aki, as I mentioned, they have the same expense ratio.
OMA has done very well. If you look at their assets under management, it's almost $500 million. Q USA is a little bit smaller. It's about $18 million almost. And what I like is, and I think that this is really important, if you look at the dividend yield trending 12 months, and based on when these two funds started, and they both started this year, they're both on track to meet that 15% annual target.
Uh, and you can see what the uh the dollarized amount is per month. um 2012 months actually uh annually um $1.45 and $11 uh for each of those and both distribute monthly. They're both in their first year but you know so far they're doing a pretty decent job. Uh I'm not going to read all this but you can read this but Q USA basically is investing in um quality companies and you can see the top 10.
Oracle, General Dynamics, Fast and All Illinois Toolworks, Mastercard, Visa. These are all very very respected dividend payers. Proctor and Gamble, Costco and ADP. I own shares in every single one of these I think except General Dynamics and Fast and All. Um and you know what I like about this? These guys are very transparent and I'm going to expect to see this with a but here they're very transparent about publishing their nav and you can see that the nav performance is actually outpacing the price performance uh since inception.
So, and and they basically they calculate the NAV daily as they should as a lot of cover call ETFs are required to do and you can see what it is for the one month, the three-month, the year-to- date time frame. And they are just very transparent and they're doing a very good job. And when I see a positive nav, that's telling me that these guys are responsible.
They are pulling in enough premiums uh to cover the distributions. they're not overdistributing. Um, and so there's no draining of the underlying assets in the fund. So that it basically saying there's really not that significant of a risk of NAV erosion. This is very responsible. That's Q USA. Here is MA.
Uh, same thing. Uh, very transparent with the NAV performance. And I like the top 10 holdings. These are replicating uh, Berkshire Hathaway's top 10. Uh obviously the first one they invest directly in Berkshire Hathway uh and then they follow Bergkshire Hathway's holdings, Apple, American Express, Bank of America, very sign, Chub Insurance, Coca-Cola, Visa, Chevron and Oxy Petroleum.
And folks that is it. I hope you found this to be informative and useful. I thank you for sticking with me. if you would consider giving us a like, uh, subscribing to the channel, and sharing the video with a friend, and hit that notification bell so you're notified of our next video. And before we close, just a reminder as uh an affiliate partner of Seeking Alpha, I can offer you a discount on the premium subscription, the Alpha Pick subscription, as well as the bundle.
For premium, you're going to get a 7-day free trial and you'll get $30 off. Alpha Pix, you'll get 50 off bundle. You'll get 159 off. You can see the link. You can also see the QR code. It'll take you right to the offer. You can join. And I got to tell you, I'm a longtime subscriber to both premium and Alpha Pick.
And I absolutely love that insightful uh analysis and up-to-date quotes on stocks and ETFs with premium. I also love getting the two stock picks every month uh from their team on Alpha Pix that are absolutely crushing the S&P 500. And if you want a little of both, get the bundle. If you're interested, check us out on other platforms.
We're on X, we're on Instagram, and on Facebook. Check us out, Dividend Blasters. Until our next video, have a wonderful day and God bless.
Comments 0