Fundstrat Capital has completed the May 2026 quarterly rebalance of its Fundstrat Granny Shots US Small- & Mid-Cap ETF (NYSE:GRNJ), adding 10 stocks and removing eight as the firm positions the portfolio for what Chief Investment Officer Tom Lee describes as a "challenging but ultimate ly constructive" environment for U.S. equities.

Since launching on November, 2025, the ETF rapidly attracted investor assets by extending Fundstrat's thematic research-driven approach beyond large-cap equities.

According to Lee, the quarterly rebalance reflects updated macroeconomic, quantitative and fundamental analysis. The strategy seeks companies benefiting from multiple structural tailwinds, combining top-down macro research with bottom-up quantitative screening. To qualify for inclusion, a stock must appear in at least two of Fundstrat's seven investment themes. The portfolio is equally weighted and rebalanced every quarter.

The latest rebalance introduced several well-known names across technology, renewable energy, retail and healthcare while removing positions that no longer met the firm’s thematic criteria.

Key Changes, May 2026 Rebalance

–Added: Credo Technology Group Holding Ltd (NASDAQ:CRDO), Dick’s Sporting Goods Inc (NYSE:DKS), First Solar Inc (NYSE:FSLR), Modine Manufacturing Co (NYSE:MOD), Neurocrine Biosciences, Inc (NASDAQ:NBIX), Natera Inc (NASDAQ:NTRA), Rambus Inc (NASDAQ:RMBS), TTM Technologies Inc (NASDAQ:TTMI), Zeta Global Holdings Corp (NYSE:ZETA) and Zoom Communications Inc (NASDAQ: ZM).

–Removed: Array Technologies Inc (NASDAQ:ARRY), Armstrong World Industries Inc (NYSE:AWI), Carrier Global Corp (NYSE:CARR), Donaldson Company Inc (NYSE:DCI), Hyatt Hotels Corporation (NYSE:H), Installed Building Products, Inc (NYSE:IBP), ITT Inc. (NYSE:ITT) and Universal Health Services Inc (NYSE:UHS).

  • AUM: More than $476 million as of June 5.
  • Strategy: Stocks must qualify under at least two of seven proprietary investment themes.
  • Short-term themes: Style Tilt, Seasonality and PMI Recovery.
  • Long-term themes: Millennials, Global Labor Supply, Energy & Cybersecurity and Easing Financial Conditions.
  • Portfolio construction: Equal-weighted and rebalanced quarterly.

GRNJ is part of Fundstrat Capital's Granny Shots ETF suite, which also includes the Fundstrat Granny Shots US Large Cap ETF (NYSE:GRNY) and income-oriented Fundstrat Granny Shots US Large Cap & Income ETF (NYSE:GRNI). As of June 5, Fundstrat Capital managed approximately $4.8 billion across the three ETFs, with flagship GRNY accounting for $4.28 billion and GRNI managing roughly $49 million.

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