ETFs & Mutual Funds
Element Capital Held $2 Billion in S&P 500 ETFs Before Election
- Jeff Talpins’ firm bought ETF stakes during past two quarters
- S&P benchmark gained 3.5% in week after Trump was re-elected
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Jeff Talpins’ Element Capital Management built a stake in exchange-traded funds tracking the S&P 500 that was worth about $2 billion at the end of September — trades that paid off when Donald Trump recaptured the White House.
The macro hedge fund acquired a $954 million stake in the Vanguard S&P 500 ETF during the third quarter, according to a regulatory filing, and boosted its holding in the iShares Core S&P 500 ETF to about $1 billion. The S&P benchmark jumped 3.5% in the week that followed the Nov. 5 election.