Corgi Invest has launched the MN Corgi MANGOS ETF, an actively managed exchange-traded fund designed to give investors economic exposure to OpenAI and Anthropic alongside Meta Platforms, NVIDIA, Alphabet and SpaceX.
The fund began trading on the Cboe BZX Exchange on October 2, 2026.
MANGOS is an acronym using the first letters of Meta, Anthropic, NVIDIA, Google, OpenAI and SpaceX.
Because OpenAI and Anthropic are privately held, the fund does not gain exposure to the companies through direct purchases of their shares.
Instead, MN seeks exposure to OpenAI and Anthropic through cash-settled total return swaps.
Those swaps are designed to provide one-for-one economic exposure without a leveraged return multiplier and are initially priced with reference to perpetual futures contracts tied to the respective private companies.
Combined exposure to OpenAI and Anthropic is limited to 15% of the fund’s net assets at the time of investment in accordance with its liquidity risk management program.
Beyond those two private AI companies, the fund also targets exposure to Meta Platforms, NVIDIA, Alphabet and SpaceX.
Under normal market conditions, MN plans to invest at least 80% of its net assets in equity securities of the six MANGOS companies and financial instruments, including total return swaps, providing economic exposure to their equity value.
Portfolio allocations are determined through active management rather than by tracking an index.
MN carries a total annual operating expense ratio of 0.20%.
The ETF structure allows investors to buy and sell MN shares through ordinary brokerage accounts without an accreditation requirement or private-fund lockup.
However, shares can trade at a premium or discount to net asset value and may experience limited liquidity.
Corgi Strategies, operating as Corgi Invest, is an SEC-registered investment adviser founded in 2025.
The firm managed approximately $821 million in assets as of June 30, 2026.
KEY QUOTES:
“For years, exposure to OpenAI and Anthropic has been reserved for venture investors and insiders. MN puts that exposure inside a wrapper investors already know how to use a standard, exchange-traded fund, bought and sold like any other ETF, with no lockups and no accreditation requirement.”
Jeff Weniger, Chief Investment Strategist at Corgi Invest
