Prominent Wedbush analyst Dan Ives has updated the holdings of his “AI Revolution 30” list, the basis for his new ETF, by adding four new companies and removing three.
Dan Ives Announces Changes To IVES ETF
In a post on X Monday, Ives announced the inclusion of cybersecurity leader CrowdStrike Holdings Inc. (NASDAQ:CRWD), gaming platform Roblox Corp. (NYSE:RBLX), energy giant GE Vernova Inc. (NYSE:GEV), and cloud provider Nebius Group NV (NASDAQ:NBIS).
To make way for the new additions, software maker Adobe Inc. (NASDAQ:ADBE), along with cybersecurity firms Cyberark Software Ltd. (NASDAQ:CYBR) and Elastic NV (NYSE:ESTC), have been removed from the Dan IVES Wedbush AI Revolution ETF (NYSE:IVES).
‘Future Of The AI Theme Over The Coming Years’
The changes underscore the active management of the ETF and reflect Ives’s evolving view on which companies will “define the future of the AI theme.”
The additions broaden the fund’s exposure across key sectors: CrowdStrike deepens its position in AI-driven cybersecurity, Roblox represents a significant play on AI in consumer and metaverse applications, GE Vernova signals a bet on AI’s integration into the industrial sector, and Nebius strengthens its exposure to foundational cloud infrastructure.
This strategic shuffle aligns with Ives’s core investment philosophy of looking beyond simple metrics to identify future leaders.
He believes Wall Street is too focused on near-term valuations, a view he has summarized by stating, “If you focus just on valuation, you miss every transformational tech stock of the last 20 years.”
This approach justifies including companies like Roblox and GE Vernova, which may not be viewed as pure-play AI stocks today but hold immense potential for AI-driven transformation.
About IVES ETF
The IVES ETF, which began trading on June 4, is designed to capture growth in the AI sector by investing in a diverse basket of 30 companies.
It has gained 11.35% since its listing on June 4.
While the fund includes AI titans like Microsoft Corp. (NASDAQ:MSFT) and Nvidia Corp. (NASDAQ:NVDA), its main thesis is to find growth in less obvious names across industries.
Ives has called the current environment a “golden age” for AI, and these latest portfolio changes signal his conviction in a broad, multi-year technology revolution.
Price Action
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and Nasdaq 100 index, respectively, fell in premarket on Monday. The SPY was down 0.12% at $642.67, while the QQQ declined 0.21% to $576.11, according to Benzinga Pro data.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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