Anti-'Woke' Investment Fund Targets Starbucks, Launches at Mar-a-Lago

Azoria Meritocracy ETF excludes companies with diversity-focused hiring practices, aiming to capitalize on conservative investor sentiment under Trump administration.

• James Fishback, CEO of Azoria Partners, announced the launch of the Azoria Meritocracy ETF, which will exclude companies from the S&P 500 that use diversity, equity, and inclusion (DEI) hiring practices.
• The fund's rollout event was held at President-elect Donald Trump's Mar-a-Lago resort and featured prominent conservative figures, including Kevin Roberts of the Heritage Foundation and Cathie Wood of Ark Investment Management.
• Starbucks has been identified as a primary target of the fund, though the company denies using hiring quotas or diversity targets, describing its goals as aspirational.
• Fishback claims that companies excluded from the ETF have underperformed financially, though analysts remain skeptical about the correlation between hiring practices and financial performance.
• The Azoria ETF, set to launch in early 2025, reflects a broader conservative pushback against ESG (environmental, social, and governance) investing, with some experts questioning the fund's potential influence and viability.

3 Articles

New York Post USA TODAY The Globe and Mail