Fort Worth Money Manager's MAGA Fund Picks Stocks Like AT&T and Exxon Based on GOP-friendliness

A Fort Worth money manager is betting GOP-minded investors are willing to put their money behind their political leanings.Hal Lambert, founder and managing director of Point Bridge Capital, appeared Friday on business news network CNBC to explain why he created a new exchange-traded fund that invests in Republican-friendly companies.Lambert, the former Texas GOP finance chair who led Sen. Ted Cruz's presidential fundraising efforts, said he created the fund by screening the S&P 500 for the financial contributions of company political action committees and employees.From that, he came up with an index of 150 "Republican supporting" companies whose employees and PACs gave the most to GOP candidates. Lambert's ETF began trading Thursday under the ticker MAGA -- or Making America Great Again."If you look at what's going on right now, the companies are becoming more political than ever," he told CNBC. "They're giving more money than ever."Lambert cited ESPN, Target and Starbucks as examples of companies that he thinks became too political and suffered as a result. "These companies are coming out and doing things politically that I don't think are in the interest of the shareholders," he said.  Continue reading...