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Exxon-Beating Activist Engine No. 1 Plans ETF to Prod Boardrooms

The firm is planning to launch its first exchange-traded fund aimed at pushing for changes at companies.

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Tiny Activist Investor Wins Two Exxon Board Seats
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The tiny activist fund that recently won at least two seats on Exxon Mobil Corp.’s board is setting its sights on a new challenge -- the $6.3 trillion ETF industry.

Engine No. 1, which shocked investors and analysts last week by taking the board positions at Exxon’s annual shareholder meeting, is now planning to launch its first exchange-traded fund. The Transform 500 ETF’s goal is to encourage changes at the companies it holds through proxy voting, according to a regulatory filing.