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    Macrae Sykes

    Portfolio Manager and Analyst at Gabelli Funds

    Macrae Sykes is a Portfolio Manager and Analyst at Gabelli Funds, specializing in financial services with dedicated coverage of companies such as TD Ameritrade, Waddell & Reed Financial, and Wisdom Tree. He has earned top industry recognition, ranking #1 investment services analyst by the Wall Street Journal in 2010 and runner-up in StarMine's stock picking awards in multiple years, with platforms like StockAnalysis recording a success rate of 50% and an average return of -3.03% across covered stocks. Sykes began his business career at Donaldson, Lufkin & Jenrette/CSFB and worked as a partner at VanthedgePoint Group before joining Gabelli in 2008; he now also manages the Gabelli Financial Services Opportunities ETF (GABF). He holds a BA in Economics from Hamilton College, an MBA in Finance from Columbia Business School, and is a registered options principal.

    Macrae Sykes's questions to WESTWOOD HOLDINGS GROUP (WHG) leadership

    Macrae Sykes's questions to WESTWOOD HOLDINGS GROUP (WHG) leadership • Q1 2025

    Question

    Macrae Sykes inquired about the new ~$1 billion sub-advisory mandate, asking about future flow opportunities and its potential as a sales lever. He also questioned the growth prospects for the MDST ETF after it qualified for national platforms.

    Answer

    CEO Brian Casey explained that the significant SmallCap Value mandate is for a large, well-recognized firm and that such headline wins aid overall marketing. He noted the institutional pipeline remains robust at over $1 billion. Regarding the MDST ETF, Casey stated that meeting key asset and track record milestones makes it eligible for major national platforms, creating the potential for "exponential growth."

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    Macrae Sykes's questions to WESTWOOD HOLDINGS GROUP (WHG) leadership • Q1 2025

    Question

    Macrae Sykes of Gabelli Funds inquired about the significant new sub-advisory mandate, asking for details on future opportunities and its potential to leverage further sales. He also asked about the growth prospects for the MDST ETF, particularly regarding its qualification for national platforms.

    Answer

    CEO Brian Casey confirmed the nearly $1 billion mandate is a sub-advisory role for a large firm, noting such wins boost marketing and that the institutional pipeline remains over $1 billion. Regarding the MDST ETF, Casey explained that meeting various platform requirements (AUM, track record) has led to placement on 4-5 platforms, with discussions underway for major wirehouses, which could drive 'exponential growth'.

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    Macrae Sykes's questions to WESTWOOD HOLDINGS GROUP (WHG) leadership • Q3 2024

    Question

    Macrae Sykes from Gabelli Funds inquired about the composition of Westwood's $2 billion organic growth pipeline and the expected timing for contributions from new initiatives like Managed Investment Solutions (MIS) and ETFs. He also asked about the seed capital requirements for the new Westwood Engineered Beta (Webs) ETF joint venture.

    Answer

    Brian Casey, an executive at Westwood, clarified that the pipeline is predominantly driven by U.S. value opportunities in the mid- and small-cap space, with strong traction in Collective Investment Trusts (CITs) and separate accounts. Casey noted that while it's difficult to predict the timing of inflows, they are seeing positive momentum with top-tier consultants. He also assured that seed capital for the new ETF venture is not a concern due to established partner relationships.

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    Macrae Sykes's questions to Interactive Brokers Group (IBKR) leadership

    Macrae Sykes's questions to Interactive Brokers Group (IBKR) leadership • Q3 2024

    Question

    Macrae Sykes asked about expected trading dynamics during the current election cycle compared to previous ones, and how a potential recovery in the IPO market next year might impact trading activity and client segments on the platform.

    Answer

    President and CEO Milan Galik anticipates increased market volatility and higher trading volumes approaching the election, similar to past cycles. On IPOs, Galik noted that a pickup, particularly in Asia, would generate fees and trading volume from high day-one interest. CFO Paul Brody added that a stronger IPO market also typically increases securities lending opportunities.

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