New Wave Wealth Advisors Bets on Data Centers to Capture AI Growth

What happened

According to a May 4, 2026, SEC filing, New Wave Wealth Advisors LLC initiated a new stake in Global X Data Center & Digital Infrastructure ETF (NASDAQ:DTCR), by purchasing 344,292 shares. The estimated value of the trade was $8.42 million, calculated using the mean unadjusted closing price for the quarter. The reported position was valued at $8.25 million at quarter-end, reflecting both the purchase and changes in the ETF's market price.

What else to know

• This was a new position and accounts for 2.86% of the fund's $288.22 million reportable assets as of March 31, 2026.
• Top holdings after the filing:
  • NASDAQ:WMT: $34.99 million (12.3% of AUM)
  • NYSEMKT:ITA: $10.37 million (3.6% of AUM)
  • NASDAQ:FYC: $9.84 million (3.5% of AUM)
  • NYSEMKT:SPY: $9.65 million (3.4% of AUM)
  • NYSEMKT:IEV: $8.99 million (3.2% of AUM)
• As of May 4, 2026, shares were priced at $28.90, up 68.48% over the past year, outperforming the S&P 500 by 45.59 percentage points.
• The ETF’s trailing 12-month dividend yield was 0.80%.
• Position count rose to 192 after this addition.

ETF overview

ETF snapshot

• Investment strategy focuses on tracking the Solactive Data Center REITs & Digital Infrastructure Index, targeting companies driving data center and digital infrastructure growth.
• Portfolio primarily consists of REITs and equities involved in data centers, fiber networks, cell towers, and related digital infrastructure assets.
• Structured as a passively managed ETF with a transparent expense ratio, designed for investors seeking targeted exposure to digital infrastructure trends.

The Global X Data Center & Digital Infrastructure ETF offers investors access to a diversified portfolio of companies at the forefront of data center and digital infrastructure development. By tracking a specialized index, the fund provides targeted exposure to the rapidly expanding digital backbone supporting global connectivity and cloud adoption. The ETF’s strategy leverages sector-specific growth drivers, positioning it as a potential tool for investors aiming to capitalize on long-term digital transformation trends.

What this transaction means for investors

It’s no great revelation that AI is a hot investing trend right now. Investors who want to ride this wave often bet on mega-cap tech names like the “Magnificent Seven,” chipmakers, or even privately held AI platforms. But is that the smartest way to play it?

New Wave Wealth Advisors appears to be taking a different approach. As the old saying goes, when there’s a gold rush, the winners are often the ones selling the picks and shovels. That may help explain why the firm opened a sizable, brand-new position in the Global X Data Center & Digital Infrastructure ETF.

Rather than trying to pick which AI company will come out on top, this ETF offers exposure to the infrastructure powering the entire industry. With just 25 holdings, it’s relatively concentrated, but still diversified enough to capture the broader data center build-out instead of relying on a single operator.

That’s important right now. Demand for data centers is surging alongside AI adoption, but shifting regulations, massive capital requirements, and long-term service contracts make it hard to predict the winners and losers. By investing in the broader ecosystem instead, New Wave may be sidestepping that uncertainty while still positioning itself to benefit from the trend.

Pamela Kock has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Walmart. The Motley Fool has a disclosure policy.