The S&P 500 Is Just 50 Stocks. The Nasdaq Is a 67% AI Bet. Kai Wu on What Else Is Hiding in Your Funds
Kai Wu of Sparkline Capital shows how to uncover hidden AI exposure, overlapping ETF holdings, and unintended factor bets in your portfolio. Owning several funds can still leave you dependent on the same companies and the same AI spending cycle.
In this episode of Excess Returns, Kai joins Matt Zeigler and Justin Carbonneau for a walkthrough of Sparkline Analytics. Using examples from the S&P 500, Nasdaq, emerging markets, and active funds, they examine what investors actually own beneath the fund labels.
Kai explains his distinction between AI infrastructure, early adopters, and laggards…
The skinny
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