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Texas, the second most populous state in the U.S. and home to a growing number of influential corporations, may soon have its own dedicated exchange traded fund. BlackRock, the world’s largest asset manager, has filed a prospectus with the U.S. Securities and Exchange Commission for the iShares Texas Equity ETF.
According to the SEC filing, the fund is slated to trade under the ticker symbol TEXN and will carry an annual operating expense ratio of 0.20%. The ETF aims to track the Russell Texas Equity Index, which is designed to reflect the performance of publicly traded companies headquartered in Texas.
To be included in the index, a company must meet several criteria at each rebalancing: it must be part of the Russell 3000 Index, have a float-adjusted market cap of at least $500M, and maintain a minimum three-month average daily trading volume of $3M.
While the filing did not disclose specific holdings, Seeking Alpha highlighted Texas’ top 10 largest publicly traded companies by market capitalization—offering a glimpse at what might anchor TEXN when and if it launches.
No. 10: ConocoPhillips (NYSE:COP)
No. 9: Crowd Strike Holdings (NASDAQ:CRWD)
No. 8: Charles Schwab (NYSE:SCHW)
No. 7: Caterpillar (NYSE:CAT)
No. 6: Texas Instruments (NASDAQ:TXN)
No. 5: AT&T (NYSE:T)
No. 4: Chevron (NYSE:CVX)
No. 3: ExxonMobil (NYSE:XOM)
No. 2: Oracle (NYSE:ORCL)
No. 1: Tesla (NASDAQ:TSLA)
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