Tom Lee's Fundstrat Capital Announces May 2026 Rebalance for Granny Shots US Small- & Mid-Cap ETF
Fundstrat Granny Shots US Small- & Mid-Cap ETF (NYSE Arca: GRNJ) completed its May 2026 quarterly rebalance, adding 10 stocks (CRDO, DKS, FSLR, MOD, NBIX, NTRA, RMBS, TTMI, ZETA, ZM) and removing 8 (ARRY, AWI, CARR, DCI, H, IBP, ITT, UHS).
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Rhea-AI Summary
Fundstrat Granny Shots US Small- & Mid-Cap ETF (NYSE Arca: GRNJ) completed its May 2026 quarterly rebalance, adding 10 stocks (CRDO, DKS, FSLR, MOD, NBIX, NTRA, RMBS, TTMI, ZETA, ZM) and removing 8 (ARRY, AWI, CARR, DCI, H, IBP, ITT, UHS).
GRNJ applies Fundstrat Capital’s Granny Shots framework to small- and mid-cap U.S. equities, is equally weighted, and rebalances quarterly. As of June 5, 2026, GRNJ holds over $476 million AUM within the Granny Shots ETF suite’s approximately $4.8 billion in total assets.
Details
News Market Reaction – GRNI
On Jun 9, the day this news came out, GRNI closed 0.91% below the previous close.
Data tracked by StockTitan Argus for the Jun 9 session.
Key Figures
- GRNJ AUM
- $476 million
- Assets under management as of June 5, 2026
- Fundstrat total AUM
- $4.8 billion
- Across Granny Shots ETF suite as of June 5, 2026
- GRNY AUM
- $4.28 billion
- Flagship large-cap ETF AUM cited in suite description
- GRNI AUM
- $49 million
- Large Cap & Income ETF AUM in suite overview
- GRNJ inception date
- November 17, 2025
- Stated fund inception date
- Rebalance additions
- 10 securities
- May 2026 GRNJ quarterly rebalance additions
- Rebalance deletions
- 8 securities
- May 2026 GRNJ quarterly rebalance deletions
- Granny Shots themes
- 7 themes
- Number of fundamental investment themes in framework
Historical Context
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Completed May 2026 rebalance for GRNY with updated holdings and AUM data.
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Declared May 2026 monthly distribution of $0.17700 per GRNI share.
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Launched GRNY UCITS ETF in Europe, mirroring Granny Shots strategy with large AUM.
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Announced GRNI monthly distribution of $0.15958 per share with March dates.
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Completed Feb 2026 GRNJ rebalance with $384M AUM and significant turnover.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
exchange-traded fund (ETF) financial
options overlay financial
purchasing managers' index (PMI) technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
Fundstrat Granny Shots US Small- & Mid-Cap ETF (NYSE Arca: GRNJ) applies the Granny Shots framework to small- and mid-capitalization
Fundstrat Granny Shots US Small- & Mid-Cap ETF (NYSE Arca: GRNJ) extends the same thematic, multi-tailwind methodology behind flagship GRNY to the small- and mid-cap segment of the
"Every quarter, we revisit our key macro themes and tactical style allocations and identify the strongest stocks to reflect these real-time updated views. We are executing this rebalance to dynamically adapt Granny Shots to the fast-changing world and market conditions," said Thomas "Tom" Lee, Chief Investment Officer of Fundstrat Capital. "For this particular rebalance, our macro, quantitative, and fundamental analysis resulted in 10 additions and 8 deletions. Our evidence-based research points to a challenging but ultimately constructive 2026 for equities and we keep this timing in mind when we rebalance."
May 2026 Rebalance Summary
Additions: CRDO, DKS, FSLR, MOD, NBIX, NTRA, RMBS, TTMI, ZETA, ZM
Deletions: ARRY, AWI, CARR, DCI, H, IBP, ITT, UHS
The rebalance reflects updated positioning across Fundstrat Capital's proprietary Granny Shots investment framework, which identifies small- and mid-cap equities positioned to benefit from multiple structural themes spanning macroeconomic trends, monetary policy, demographics, behavioral shifts, and technology adoption.
Fundstrat Capital is the asset management affiliate of Tom Lee's research platform, Fundstrat Global Advisors, the institutional research firm Lee co-founded. Fundstrat Capital issues and manages the Granny Shots ETF suite, which includes GRNY, GRNI, and GRNJ. Each fund is listed on NYSE Arca.
The Granny Shots strategy combines Fundstrat's top-down macroeconomic research with bottom-up quantitative screening. To qualify for the portfolio, a security must appear in at least two of Fundstrat's seven fundamental investment themes, a dual-signal methodology that targets positions supported by multiple potential tailwinds. The portfolio is equally weighted and rebalanced quarterly.
1Source: Morningstar and FactSet as of May 19, 2026; data includes actively managed
The Seven Granny Shots Themes
The May 2026 portfolio is constructed from securities appearing in at least two of the following seven themes.
Shorter-term themes
Style Tilt — Positioning aligned with leading style factors (e.g., value vs. growth) in the current regime.
Seasonality — Calendar-based positioning informed by historical monthly and quarterly return patterns.
PMI Recovery — Positioning for a rebound in the Purchasing Managers' Index (PMI), favoring cyclical exposure tied to manufacturing and services activity.
Longer-term themes
Millennials — Companies positioned to benefit from the consumer, housing, and investing behaviors of the largest
Global Labor Supply — Companies positioned for persistent labor scarcity, including beneficiaries of automation, robotics, and productivity-enhancing technology.
Energy & Cybersecurity — The physical energy infrastructure powering the modern economy and the cybersecurity layer that protects it.
Easing Financial Conditions — Transition in monetary policy, rate adjustments, and more accommodative credit conditions.
The Granny Shots ETF Suite
Fundstrat Granny Shots US Large Cap ETF (NYSE Arca: GRNY) — Flagship thematic large-cap
Fundstrat Granny Shots US Large Cap & Income ETF (NYSE Arca: GRNI) — Holds the same core equity positions as GRNY and adds an actively managed options overlay designed to generate monthly income distributions. AUM:
Fundstrat Granny Shots US Small- & Mid-Cap ETF (NYSE Arca: GRNJ) — Applies the Granny Shots framework to small- and mid-cap
Why Investors Are Allocating to Granny Shots
Since its inception date on November 17, 2025, GRNJ has reached more than
The Granny Shots ETF suite, which includes GRNY, GRNI, and GRNJ, gives investors a research-driven toolkit spanning market capitalizations and income preferences. To learn more, visit grannyshots.com.
Frequently Asked Questions
What is the Granny Shots Small- & Mid-Cap ETF (GRNJ)?
GRNJ (NYSE Arca: GRNJ) is an actively managed exchange-traded fund (ETF) that uses Fundstrat Capital's proprietary thematic investment framework to identify small- and mid-cap
Where does GRNJ trade?
GRNJ trades on NYSE Arca under the ticker symbol GRNJ. GRNY and GRNI also trade on NYSE Arca.
Who manages the Granny Shots ETFs?
The Granny Shots ETF suite is issued by Fundstrat Capital, led by Chief Investment Officer Thomas "Tom" Lee. The funds are series of Tidal Trust III and distributed by Foreside Fund Services, LLC.
How does the Granny Shots strategy select stocks?
A security must appear in at least two of Fundstrat's seven investment themes to qualify for the portfolio. This dual-signal methodology combines top-down macro research with bottom-up quantitative screening. The portfolio is equally weighted and rebalanced quarterly.
What are the seven Granny Shots themes?
Style Tilt, Seasonality, PMI Recovery, Millennials, Global Labor Supply, Energy & Cybersecurity, and Easing Financial Conditions.
How often does GRNJ rebalance?
GRNJ rebalances quarterly. The most recent rebalance is the May 2026 rebalance announced in this release.
What is GRNJ's inception date?
November 17, 2025.
What is the difference between GRNY and GRNI?
GRNY provides pure thematic equity exposure to the Granny Shots strategy. GRNI holds the same core equity positions as GRNY and adds an actively managed options overlay designed to generate monthly income distributions.
What is the total AUM of Fundstrat Capital?
As of June 5th, 2026, Fundstrat Capital manages approximately
About Fundstrat Capital
Fundstrat Capital is a New York–based investment management firm (registered investment adviser) led by Chief Investment Officer Thomas "Tom" Lee, specializing in thematic, research-driven equity strategies. The firm applies in-depth macroeconomic, industry, and market trend analysis to develop actively managed investment solutions for a broad range of investors. Tom Lee is widely recognized for his market research, macro commentary, and pioneering work in thematic investing across equities and digital assets.
Headquarters: New York, NY
Chief Investment Officer: Thomas "Tom" Lee
ETF Suite: GRNY, GRNI, GRNJ (NYSE Arca)
Total AUM:
Distributor: Foreside Fund Services, LLC
To learn more, visit fundstratcapital.com.
GRNY holdings and performance: grannyshots.com/grny
GRNJ holdings and performance: grannyshots.com/grnj
GRNI holdings and performance: grannyshots.com/grni
Follow Fundstrat Capital
X: @FundstratCap
X: @fundstrat
LinkedIn: Fundstrat Capital
YouTube: @FundstratCapital
Subscribe for Updates
To receive weekly market updates and commentary from Thomas "Tom" Lee and Fundstrat Capital, visit grannyshots.com/sign-up.
Media Inquiries
Email: inquiry@fundstratcapital.com
Disclosures
BEFORE INVESTING, YOU SHOULD CAREFULLY CONSIDER THE FUND'S INVESTMENT OBJECTIVES, RISKS, CHARGES, AND EXPENSES. THIS AND OTHER INFORMATION IS CONTAINED IN THE PROSPECTUS, WHICH CAN BE ACCESSED AT GRANNYSHOTS.COM/FUND-DOCUMENTS/ OR BY CALLING (212) 293-7132. PLEASE READ THE PROSPECTUS CAREFULLY BEFORE INVESTING.
Investing involves risk. Principal loss is possible.
The principal risks of investing in the Fund are summarized below. As with any investment, there is a risk that you could lose all or a portion of your investment in the Fund. Some or all of these risks may adversely affect the Fund's net asset value per share ("NAV"), trading price, yield, total return, and/or ability to meet its investment objective. For more information about the risks of investing in the Fund, see the section in the Fund's Prospectus titled "Additional Information About the Fund — Principal Risks of Investing in the Fund."
Equity Market Risk. Common stocks are generally exposed to greater risk than other types of securities, such as preferred stock and debt obligations, because common stockholders generally have inferior rights to receive payment from specific issuers.
Small- and Mid-Capitalization Companies Risk. The securities of small- and mid-capitalization companies may be more volatile and less liquid than the securities of large-capitalization companies. Small- and mid-capitalization companies may have limited product lines, markets, or financial resources, may depend on a smaller management team, and may be more vulnerable to adverse general market or economic developments than larger, more established companies.
Models and Data Risk. The composition of the Fund's portfolio is heavily dependent on investment models developed by the Sub-Adviser as well as information and data supplied by third parties ("Models and Data"). When Models and Data prove to be incorrect or incomplete, any decisions made in reliance thereon may lead to the inclusion or exclusion of securities from the Fund's portfolio that would have been excluded or included had the Models and Data been correct and complete.
Operational Risk. The Fund is subject to risks arising from various operational factors, including, but not limited to, human error, processing and communication errors of the Fund's service providers, counterparties or other third parties, failed or inadequate processes and technology or systems failures. The Fund relies on third parties for a range of services, including custody.
New Fund Risk. The Fund is a recently organized management investment company with no operating history. As a result, prospective investors do not have a track record or history on which to base their investment decisions.
Distributed by Foreside Fund Services, LLC. Foreside is not related to Tidal or Fundstrat.
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SOURCE Fundstrat Capital
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