When Ivana Derevska launched her fund in August 2021, she felt that artificial intelligence was going to be huge. A hedge fund veteran who previously worked at Citadel, Millennium and Tiger Management, Derevska specializes in the industrial sector and communicates with more than 100 companies. She realized that understanding where companies are investing their money will lead to an AI boom. “We were able to spot trends before anyone else…because we talked to industrial companies that were investing in her GPUs for AI,” Delevska said in an interview. mentioned about the processing of her unit. Derevska's Spear Alpha ETF (SPRX) has $70 million in assets and holds about 26 stocks, and she expects nearly all of her portfolio to benefit in some way from AI. has been done. “AI is clearly the biggest theme, there's no question. AI is basically impacting 95% of our portfolio,” she said. “Almost everything we invested in [in] Now they will benefit from AI in some way. SPRX 1Y Mountain Spear Alpha ETF Almost 11% Actively Managed ETF in Nvidia is up over 60% in the past 12 months, outperforming the well-known Ark Innovation ETF. By contrast, Cathie Wood's ARKK rose more than 21% over the same period. One of the big factors behind Spear's outperformance is Nvidia's overweight. First purchased in 2023, this beloved chip has become SPRX's largest holding with a weight of around 11%. “As we were going into 2023, Nvidia was completely unpopular, so it was just like a vehicle for attack,” Derevska said. “It was a high-risk investment, but it was also a high-reward investment.” Now that Nvidia has soared more than 220% in the past year, Derevska believes the stock plays a more defensive role in her portfolio. , we see potential returns of 30% to 40% over the next few years. Apart from AI, Spear Alpha ETF also invests in other themes such as corporate digitization, space exploration, and decarbonization. But Spear doesn't take a thematic approach, Derevska said. “We derive themes from the companies we cover,” she says. “This is very similar to how you run a long book in a fund like Citadel, for example. It's all like picking individual stocks, so you derive alpha from that,” according to FactSet. , the Spear Alpha ETF has received $54 million in inflows through 2024. Wood's performance was poor, investors were disappointed with its performance, and $1.36 billion was drained from ARKK in 2024.
