Examples of companies included in the fund’s portfolio are Texas Pacific Land (TPL) and Wheaton Precious Metals (WPM). James Davolos, portfolio manager and research analyst at Horizon Kinetics, joined Tom Lydon, CEO of ETF Trends, and host Bob Pisani to discuss Covid’s lingering effects on markets and an ETF particularly poised to benefit from inflation. INFL pinpoints royalty companies – that is, hard assets businesses that are capital-light, and lays them within a valuation framework.