EPISODE · Jul 24, 2026 · 51 MIN
#154 Why the S&P 500 Ignores Founders — And How This ETF Fixes It | Haren Bhakta, Inside Ownership
from Alt Funds Network · host Mike Schroeder, Skyler Steinke, Haren Bhakta
Find us online: https://altfunds.io/ Email us with topic ideas: [email protected] Spotify: https://bit.ly/4afXcan Apple Podcast: https://apple.co/4akXAUS Google: https://bit.ly/4am9oXk Connect with Haren Bhakta: firm website: www.insideownership.com Youtube: https://www.youtube.com/@OwnershipIndex Timestamps: 00:00 Podcast Introductions 00:19 Haren’s Career Journey 01:23 Microcap Proxy Battle 03:12 Finding Microcap Ideas 04:04 Berkshire Aha Moment 07:14 Free Float Explained 08:16 Power Law Returns 10:17 Founders and Innovation 12:24 IBM Leadership Lesson 15:59 Passive Indexing Problem 21:21 Inside Ownership Index 22:25 Insiders and Weighting 25:38 100 Bagger Research 26:20 Insider Ownership Edge 27:19 Skin in the Game 29:02 Electrons vs Atoms 33:12 Indexing in Winner Take All 37:17 Rethinking Valuation 40:27 Launching the ETF 40:49 Fast Partner and Costs 48:37 Marketing and Lessons 49:55 Global Expansion Plans 51:11 Wrap Up and Contact Disclaimer: Alt Funds Network LLC and its affiliates, episode guests, and the companies they represent do not provide tax, legal or accounting or investment advice. This material has been prepared for informational and educational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal, accounting, and investment professionals before engaging in any transaction or making any financial or legal decision based on your specific situation.
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Background: Haren Bhakta, CFA, is the founder of Inside Ownership and creator of the Inside Ownership Index, built on the belief that the people with the greatest influence over a company’s future should have meaningful ownership in it. His work explores the intersection of ownership, incentives, and long-term business performance—put simply, the power of having skin in the game. Working for the Funds Group in New York, David and his team focus on providing premier banking services to the alternative investment community. He holds a BBA in Accounting and an MBA in Finance. Description: On the Alt Funds Network podcast, hosts Mike Schroeder and Skyler Steinke interview Haren Bhakta, CFA, founder of Inside Ownership and creator of the Inside Ownership Index, covering his career from Merrill Lynch and Morgan Stanley to launching his own RIA and microcap fund, including a proxy contest that led to acquiring and selling a Las Vegas show-ticket microcap business. Bhakta explains his “aha” moment at the 2024 Berkshire Hathaway meeting about S&P 500 free-float weighting increasing exposure when iconic leaders die, motivating an index that weights S&P 500 stocks by insider dollar-value ownership from DEF 14A filings. He discusses power-law returns, founder/owner-led leadership, issues with passive index fund control, examples like IBM and eBay, and why past earnings can mislead (Intel vs. NVIDIA). He details launching the OWN ETF with Corgi Funds, SEC timing, marketing lessons, and plans to expand globally.
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#154 Why the S&P 500 Ignores Founders — And How This ETF Fixes It | Haren Bhakta, Inside Ownership
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