WASHINGTON, DC / ACCESSWIRE / December 14, 2023 / Today, the American Conservative Values ETF (NYSE:ACVF) announced that it has divested its holdings of and initiated a "Refuse to Buy" rating for International Business Machines (IBM).
After a comprehensive review of our continued investment, ACVF's management team has decided to divest its holding of International Business Machines (IBM).
"Considering the recent revelations of their CEO coercing managers to use discriminatory practices in hiring process, it is clear that IBM has lost its way. Clear proof that they are placing politics ahead of shareholders," stated ACVF CEO and co-founder William Flaig
"Corporate initiatives that push environmental, social, and governance (ESG) policies, particularly diversity and inclusion initiatives, are particularly concerning. Are they prioritizing DEI over maximizing shareholder returns?" asked ACVF's president and co-founder Tom Carter. He added that "we believe in meritocracy in employment and, although diversity can be good in certain instances, mandated diversity can negate hiring policies that should be based on merit."
ACVF believes the economic tool of denying companies capital is a powerful and immediate impetus for management to focus on business. ACVF refuses to invest in the companies most at risk to the "woke/liberal agenda" and its wasteful misallocation of investors' capital.
"It's a moral imperative to stop and roll back the left's takeover of corporate America," stated Flaig. "Giving conservative investors the power to fight back is why we built ACVF."
"Our principled boycotts should reflect concerns within the conservative community, such as the suppression of conservative voices and services, woke corporate culture, biased media, freedom of religious expression, the right to bear arms, and sanctity of life," said Flaig.
"We must hold companies accountable for their actions. We need to vote with our wallets and deny them access to the capital they need. ACVF is currently refusing to invest in 35 such companies," stated Carter. "I'm proud to offer an alternative to the S&P 500*, which currently keeps 25 cents of every invested dollar from these companies."
Tom Carter reiterated, "we do not want to give the companies that are eagerly working to destroy conservative values our hard-earned investment dollars, and neither should you. Companies like Walt Disney, Blackrock, Google, Amazon, and others."
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About ACVF
The American Conservative Values ETF (ACVF) is based on the conviction that politically active companies negatively impact their shareholder returns, as well as support issues and causes which conflict with our conservative political ideals, beliefs and values.
*The S&P 500® is a broad-based unmanaged index, which is widely recognized as representative of the equity market in general.
* As of 12/13/2023 the fund holds 0.00% of Disney, Blackrock, Google and Amazon. The fund's holdings are subject to change. For current holdings, please visit https://acvetfs.com/fund/etf-fund/#holdings
* The 35 companies that are currently excluded from their portfolio represent 25% of the S&P 500.
* For current holdings, fund factsheet and more information, please visit www.acvetfs.com
To schedule an interview with Mr. Flaig or Mr. Carter, please contact them at
wflaig@ridgelineresearch.com 301-685-7121
tcarter@ridgelineresearch.com 301-685-7122
www.InvestConservative.com
Carefully consider the Fund's investment objectives, risk factors, charges and expenses before investing. This and additional information can be found in the Fund's prospectus and summary prospectus, which may be obtained by visiting ACVETFS.com. Read the prospectus and summary prospectus carefully before investing.
An investment in the Fund is subject to risks, including the possible loss of the principal amount invested. Overall stock market risks may affect the value of individual securities in which the Fund invests. The Fund is actively managed, and the adviser's investment decisions impact the Fund's performance. The Fund and adviser are new, and the ETF has only recently commenced operations. This Fund may not be suitable for all investors.
The equity securities in which the Fund invests will generally be those of companies with large market capitalizations. Exchange-Traded Funds (ETFs) trade like stocks, are subject to investment risk, and will fluctuate in market value. Transactions in shares of ETFs will result in brokerage commissions, which will reduce returns. Unlike typical exchange-traded funds, there are no indexes that the Fund attempts to track or replicate. Thus, the ability of the Fund to achieve its objectives will depend on the effectiveness of the portfolio manager. There is no assurance that the investment process will consistently lead to successful investing. The Fund is new and has a limited operating history.
The ACVF Fund is distributed by Foreside Fund Services, LLC. Foreside is not affiliated with Ridgeline Research, LLC, the Fund's Investment Adviser.
The Fund is structured as an ETF and as a result, is subject to special risks. Shares are bought and sold at market price (closing price) not net asset value (NAV) and are not individually redeemed from the Fund. Market price returns are based on the midpoint of the bid/ask spread at 4:00 p.m. Eastern Time (when NAV is normally determined) and do not represent the return you would receive if you traded at other times.
SOURCE: American Conservative Values ETF
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