The Gabelli Growth Innovators ETF (GGRW) returned (7.6)% during the first quarter, compared with a (4.4)% return for the S&P 500. Gabelli Growth Innovators (GGRW) initiated new positions in American Express, Booking Holdings, Caterpillar, Charles Schwab Corp, Parker-Hannifin Corporation, and Sherwin-Williams Company. For the first quarter the top five contributors to performance were GE Vernova, Applied Materials, ASML Holding, Eaton Corporation, and Caterpillar Inc.
Growth investing has been in vogue this year amid the powerful stock market rally led by the artificial intelligence (AI) boom and optimism over potential interest rate cuts.