The thematic ETF issuer is betting that a new acronym capturing Meta, Anthropic, Nvidia, Google, OpenAI, and SpaceX will replace FAANG as Wall Street's favorite shorthand
Move over, FAANG. There’s a new acronym in town, and it comes with a fruit basket.
Corgi, the thematic ETF issuer that burst onto the scene with a massive multi-fund launch earlier this year, has filed for a MANGOS ETF. The fund would offer bundled exposure to Meta, Anthropic, Nvidia, Google (Alphabet), OpenAI, and SpaceX, a roster that reads like a who’s-who of companies building or enabling the AI infrastructure boom.
From Magnificent 7 to MANGOS #
The MANGOS acronym started gaining traction around June 11, 2026, as investors and market watchers sought a cleaner label for the cohort of companies actually driving AI forward. Unlike the Magnificent 7 or FAANG groupings that were anchored to Big Tech’s consumer platforms, MANGOS tilts hard toward AI development and the infrastructure powering it.
Two of the six names in the basket, Anthropic and OpenAI, aren’t even publicly traded yet. Anthropic and OpenAI carry a combined valuation of approximately $965 billion based on private market estimates. Both companies are widely expected to pursue IPOs, which would be necessary for a traditional equity ETF to hold their shares directly.
Corgi already operates a Magnificent 7 ETF under the ticker CMAG, which targets a 0.20% expense ratio. The broader MANGOS filing appears to be an evolution of that thesis, swapping out some of the legacy tech names for pure-play AI companies and adding SpaceX to capture the AI-adjacent space and satellite sector.
Corgi’s rapid-fire ETF strategy #
Corgi launched between 28 and 34 actively managed thematic ETFs on Cboe BZX on May 6, 2026. That single-day rollout pulled in roughly $160 million in assets. The existing lineup spans AI cybersecurity, space communications, semiconductors, and other technology verticals. Expense ratios across the suite range from 0.20% to 0.35%.
Why MANGOS matters for investors #
Nvidia reported an 85% year-over-year increase in revenue. Meta’s inclusion makes sense given its aggressive pivot toward AI research and its integration of large language models across its product suite. Alphabet, parent of Google, remains a dominant force in AI through DeepMind and its cloud AI services.
SpaceX adds a wildcard element. Like Anthropic and OpenAI, SpaceX remains private, which raises questions about how the ETF would gain exposure.
The approximately $965 billion in combined private valuations of Anthropic and OpenAI suggests their IPOs would be among the largest in history. However, the MANGOS filing has yet to receive verified SEC filings or official announcements, raising questions about formal recognition of the new investment theme.
Six names is an extremely tight portfolio. If any single company stumbles, whether through regulatory action, an AI safety incident, or a simple earnings miss, the fund’s performance would take a disproportionate hit.
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