MutualFundWire.com: Invest Like Ackman, With an Income ETF Twist, And ...

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Monday, September 15, 2025

Invest Like Ackman, With an Income ETF Twist, And ...

The folks at VistaShares are teaming up with a familiar ally to build a second fund that draws on another famous investor's stock picks. And they're prepping half a dozen more such funds, too.

Adam Scott Patti
VistaShares
President, CEO

Last Tuesday (September 9), Adam Patti, CEO of VistaShares, unveiled the launch of the VistaShares Target 15 ACKtivist Distribution ETF (ACKY on the NYSE Arca). The VistaShares team also filed to launch six other ETFs:

the VistaShares ACKtivist Select ETF (ACKM);

the VistaShares Berkshire Select ETF (BERK);

the VistaShares BigShort Select ETF (BURS);

the VistaShares DRUKMacro Select ETF;

the VistaShares Target 15 BigShort Distribution ETF (SAMY); and

the VistaShares Target 15 DRUKMacro Distribution ETF (DRKY).

Milwaukee, Wisconsin-based Tidal Investments LLC will serve as investment advisor to the new and planned ETFs, while Dover, Delaware-based VistaShare Advisors LLC will serve as subadvisor and sponsor.

ACKY and the two planned Target 15 ETFs, DRKY and SAMY, will have expense ratios of 95 basis points. The four planned Select ETFs — DRUK, BURS, BERK, and ACKM — will have expense ratios of 75bps.

ACKY's inception date was last Tuesday. The new ETF now has about $9.561 million in AUM*.

ACKM, ACKY, BERK, BURS, DRKY, DRUK, and SAMY will be powered by the same five-person PM team. That team includes:

Qiao Duan, portfolio manager at Tidal;

Christopher Mullen, PM at Tidal;

Charles Ragauss, PM at Tidal;

Scott Snyder, senior vice president of trading at Tidal; and

Patti himself.

ACKY and ACKM are both designed to track the BITA VistaShares ACKtivist Select Index, which includes the top 20 U.S.-listed equity holdings of William Ackman's Pershing Square Capital Management. (The VistaShares team notes that the ETFs are unaffiliated with Pershing Square and Ackman.) ACKY is also designed to generate income of 15 percent via an options portfolio.

BERK will be designed to track the Solactive VistaShares Berkshire Select Index, which includes the top 20 U.S.-listed equity holdings of Warren Buffett's Berkshire Hathway. And VistaShares and Tidal already power the VistaShares Target 15 Berkshire Select Income ETF (OMAH), which launched on March 5 and now has about $504.711 million in AUM*. OMAH also tracks the same index as BERK, while also aiming to generate 15 percent income via options.

SAMY and BURS will be designed to track the BITA VistaShares BigShort Select Index, which includes the top 20 U.S.-listed equity holdings of Michael Burry's Scion Asset Management. SAMY will also be designed to generate income of 15 percent via an options portfolio.

DRKY and DRUK will be designed to track the BITA VistaShares DRUKMacro Select Index, which includes the top 20 U.S.-listed equity holdings of Stanley Druckenmiller's Duquesne Family Office. DRKY will also be designed to generate 15 percent income via options.

Solactive AG will serve as the index provider for BERK, while BITA GmbH will serve as index provider for ACKM, ACKY, BURS, DRKY, DRUK, and SAMY.

"The acument of some of history's most prominent investors can play a significant role in how investors of all types and sizes construct their core equity holdings," Patti states. "At the same time, investors now have access to some of the most experienced options investing pros in the space."

SAMY, DRUK, DRKY, BURS, BERK, ACKY, and ACKM will be actively managed, non-diversified series of Tidal Trust III. The new and planned ETFs' other service providers will include:

ACA's Foreside Fund Services, LLC as distributor;

Sullivan & Worcester LLP as counsel;

Tait, Weller & Baker LLP as independent accounting firm;

Tidal ETF Services LLC as administrator;

U.S. Bancorp Fund Services, LLC (dba U.S. Bank Global Fund Services) as fund accountant and transfer agent; and

U.S. Bank, N.A. as custodian.