What’s the Buzz Behind the Granny Shots ETF?

The Granny Shots ETF (GRNY) has been making waves across the internet and lighting up social media feeds. Officially named the Fundstrat Granny Shots U.S. Large Cap ETF, it was launched by Fundstrat Global Advisors in early November last year, with none other than Tom Lee — a familiar face on Wall Street and in financial media — leading the charge.

Fast forward to April 28, 2025, and the fund has already pulled in over $900 million in assets, racking up more than $300 million in net inflows this year alone — even after a -5.4% dip to start the year.

So, who exactly is Tom Lee? Why the quirky name "Granny Shots"? And how does this ETF actually work?

Let’s dive in.

Who is Tom Lee?

Tom Lee is a well-known Wall Street strategist and the co-founder of Fundstrat Global Advisors. Lee is famous for his data-driven insights, bullish market calls, and knack for identifying trends before they go mainstream.

His reputation for blending traditional analysis with a fresh, often contrarian perspective has made him a trusted voice in financial circles and a driving force behind the Granny Shots ETF.

Image credit: CNBC

Why is it Called a Granny Shot Anyway?

The name “Granny Shot” isn’t just for laughs.

It actually draws inspiration from basketball. In the game, a "granny shot" is an unconventional, underhand free throw that, while old-fashioned, is often surprisingly effective. Most famously, Naismith Memorial Basketball Hall of Famer Rick Barry shot free throws that way and did so quite well, making 89.3% of his free throws over the course of his decorated NBA career.

Similarly, the Granny Shot ETF focuses on a portfolio of stocks that may not always be flashy, but are consistently high-performing, just like the granny shot in basketball. It's a reminder that sometimes, sticking to simple, proven methods can deliver winning results.

How Does the Granny Shots ETF Work?

The Fundstrat Granny Shots U.S. Large Cap ETF (GRNY) invest in U.S. large-cap stocks by building a portfolio around big-picture themes set to shape the U.S. economy, such as the digital lifestyles of millennials, tech innovation, or shifts in consumer behavior.

It all starts with deep research across macro trends, business cycles, demographics, and more. Fundstrat identifies high-impact themes, then hunts for large companies with a market cap over $10 billion that are best positioned to ride those waves.

They dig into everything, from earnings call transcripts to keyword frequency, to find firms genuinely aligned with these trends.

The final stock picks must excel across multiple themes and pass a rigorous quantitative screen measuring factors like free cash flow, valuation, and momentum.

About 20 to 50 stocks make the cut, equally weighted for balanced exposure. The fund refreshes its lineup quarterly to stay closely tied to the market’s most powerful trends.

GRNY is actively managed, forward-looking strategy designed to capture the future, not the past. It has an expense ratio of 0.75%.

Source: Grannyshots.com

Granny Shots ETF Top Holdings

As of April 28, 2025, the fund held 35 stocks, with top names including Palantir, Netflix, MicroStrategy, Progressive Corporation, CrowdStrike Holdings, GE Vernova, Abbott Laboratories, Palo Alto Networks, Cadence Design Systems, and Microsoft.

See how each company fits into different themes

Please note this article is for information purposes only and does not in any way constitute investment advice. It is essential that you seek advice from a registered financial professional prior to making any investment decision.