Tom Lee’s GRNY ETF Tops $3B as Performance Outpaces QQQ
Tom Lee’s GRNY just topped $3 billion in assets less than a year after launch.
The Fundstrat Granny Shots US Large Cap ETF (GRNY) has crossed another major milestone, topping $3 billion in assets less than a year after launch. The fund hit the mark last week, just over two months after surpassing $2 billion.
It’s a remarkable run for the actively managed ETF, overseen by a four-person team that includes Tom Lee, co-founder and head of research at Fundstrat Global Advisors.
GRNY has benefited from both strong inflows and standout performance. The fund has pulled in $2.7 billion since inception, including $425 million in the past month, $1.3 billion over the past three months, and $2 billion so far in 2025.
The ETF is up 28% year-to-date, easily outpacing the 19.5% gain for the Invesco QQQ Trust (QQQ) and the 15.8% rise for the Vanguard S&P 500 ETF (VOO).
The Strategy
GRNY uses a multi-theme, equal-weight equity approach that blends fundamental analysis with quantitative stock screens. The team identifies a broad set of themes that it expects to drive markets, ranging from monetary policy to demographics, industrial trends, and technology adoption.
Some themes are shorter-term, such as seasonality and PMI recoveries, while others—like energy security, cybersecurity, and the rise of millennials—reflect longer-term structural trends.
Companies that align with at least two themes are then filtered through quantitative models to produce a portfolio of roughly 20 to 50 stocks, each equally weighted.
Current holdings include several of 2025’s standout performers, such as Lam Research, Robinhood Markets, Tesla, Alphabet, Palo Alto Networks, Oracle, and CrowdStrike Holdings.
