Twitter Enters IPO ETF as a Top-10 Holding

ETF Trends

Twitter (TWTR), the newly public social media darling, has joined the Renaissance IPO ETF (IPO) , itself a new offering, as a top-10 holding.

To be precise, IPO added shares of Twitter after the close of U.S. markets Wednesday at a weight of 2.44%, making the stock the ETF’s tenth-largest holding. Twitter resides ahead of Retail Properties of America (RPAI) and behind Spirit Realty in IPO’s lineup, according to Renaissance data.

Along with Global X, the firm behind the Global X Social Media Index ETF (SOCL) , IPO’s issuer confirmed last week it would add Twitter to its roster after the stock’s fifth trading day, which was Wednesday. [ETFs Confirm Addition of Twitter]

With a market cap of $23.2 billion, Twitter is larger on that basis than Workday (WDAY) and Realogy Holdings (RLGY) combined. Those stocks combine for nearly 9% of IPO’s weight. However, the ETF does not add stocks based on market cap alone.

Twitter’s weight in IPO was determined by its offering size of 70 million shares multiplied by Wednesday’s closing price. [Twitter ETF Update]

Prior to Twitter, IPO’s most recent addition was real estate investment trust Brixmor Property Group (BRX), said Renaissance Capital’s Kathleen Smith in an interview with ETF Trends. Smith also confirmed that Michael Kors (KORS), currently IPO’s largest holding with a weight of almost 10.4%, will be depart the ETF when the fund rebalances next month.

IPO will add Extended Stay America (STAY) to its fold at the close on Nov. 19, according to a statement issued Wednesday. IPO had almost $28.6 million in assets at Wednesday’s close.

IPO’s Top-10 Holdings

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Chart Courtesy: Renaissance Capital


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