Tom Lee's Fundstrat Capital Announces May 2026 Rebalance for Granny Shots Large Cap ETFs
Rhea-AI Summary
Fundstrat Capital completed the May 2026 quarterly rebalance for the Granny Shots US Large Cap ETF (NYSE Arca: GRNY), adding CF, LLY, NOW, ORCL, PM, UNH and deleting AMGN, CVX, PPG.
GRNY AUM reached $4.4B; the Granny Shots ETF suite, including GRNI (NYSE Arca: GRNI) and GRNJ, totals about $5.02B in assets.
Positive
- GRNY AUM reached about $4.4 billion as of June 1, 2026
- Granny Shots ETF suite totals approximately $5.02 billion in AUM
- May 2026 rebalance added 6 stocks and removed 3 stocks
- GRNI applies an options overlay to GRNY holdings to target monthly income
Negative
- None.
News Market Reaction – GRNI
In the Jun 3 session, GRNI declined 0.70%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| May 27 | Monthly distribution | Positive | +0.1% | Announced May 2026 monthly income distribution of $0.17700 per share. |
| May 22 | UCITS launch | Positive | +1.0% | Launched GRNY UCITS ETF for European investors, expanding strategy reach. |
| Mar 27 | Monthly distribution | Positive | -1.8% | Declared March 2026 monthly distribution of $0.15958 per share for GRNI. |
| Feb 25 | GRNJ rebalance | Positive | +0.9% | Completed sizable quarterly rebalance for GRNJ with updated AUM and holdings. |
| Feb 23 | Large-cap rebalance | Positive | -1.4% | Announced February 2026 large-cap rebalance with sector tilts and AUM update. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
News around distributions and strategy expansion has usually coincided with modest positive moves, while some rebalance announcements have seen short-term pullbacks.
Over the past six months, Fundstrat’s Granny Shots complex has emphasized distributions, AUM growth, and systematic rebalances. GRNI’s monthly income announcements on Mar 27 and May 27 detailed per-share payouts fully classified as income. Strategy-focused updates included a European UCITS launch on May 22 and large- and small/mid-cap rebalances on Feb 23 and Feb 25. Today’s May 2026 large-cap rebalance fits this pattern of regularly scheduled, rules-based portfolio updates within the Granny Shots framework.
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 Large Cap ETF (NYSE Arca: GRNY) ranks among the fastest-growing actively managed large-cap equity ETF launches with more than
Fundstrat Granny Shots US Large Cap & Income ETF (NYSE Arca: GRNI) pairs the thematic equity holdings of flagship GRNY with an actively managed options overlay designed to generate monthly income.
"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 6 additions and 3 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: CF, LLY, NOW, ORCL, PM, UNH
Deletions: AMGN, CVX, PPG
The rebalance reflects updated positioning across Fundstrat Capital's proprietary Granny Shots investment framework, which identifies large-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.
The Seven Granny Shots Themes
The Granny Shots 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
U.S . generation. - 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 November 7, 2024 inception, GRNY 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 ETF (GRNY)?
GRNY (NYSE Arca: GRNY) is an actively managed exchange-traded fund (ETF) that uses Fundstrat Capital's proprietary thematic investment framework to identify large-cap
Where does GRNY trade?
GRNY trades on NYSE Arca under the ticker symbol GRNY. GRNI and GRNJ 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 a series of Tidal Trust III and are 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 GRNY rebalance?
GRNY rebalances quarterly. The most recent rebalance is the May 2026 rebalance announced in this release.
What is GRNY's inception date?
November 7, 2024.
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 1, 2026, Fundstrat Capital manages approximately
¹ Source: Morningstar and FactSet as of May 19, 2026; data includes actively managed
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:
$5.02 billion as of June 1, 2026 - 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
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Disclosures
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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."
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Large-Capitalization Investing. The securities of large-capitalization companies may be relatively mature compared to smaller companies and therefore subject to slower growth during times of economic expansion. Large-capitalization companies may also be unable to respond quickly to new competitive challenges, such as changes in technology and consumer tastes.
Derivatives Risk. Derivatives are financial instruments that derive value from the underlying reference asset or assets, such as stocks, bonds, or funds (including ETFs), interest rates or indexes. The Fund's investments in derivatives may pose risks in addition to, and greater than, those associated with directly investing in securities or other ordinary investments, including risk related to the market, imperfect correlation with underlying investments or the Fund's other portfolio holdings, higher price volatility, lack of availability, counterparty risk, liquidity, valuation and legal restrictions.
Distributed by Foreside Fund Services, LLC. Foreside is not related to Tidal or Fundstrat.
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SOURCE Fundstrat Capital