Tema Memory ETF Snaps Up CXMT on IPO Day, Becoming Top Holder
Event summary
- Tema ETFs added ChangXin Memory Technologies (CXMT) to its Tema Memory ETF (DISK) as a top holding with a 10.56% portfolio weight on the morning of CXMT’s IPO, July 27, 2026.
- This gives DISK the highest exposure to CXMT of any U.S.-listed ETF.
- CXMT is China’s leading memory manufacturer and the only prominent Chinese DRAM competitor to SK hynix, Samsung Electronics, and Micron Technology.
- DISK is the first institutional-grade memory ETF launched in partnership with SemiAnalysis.
The big picture
Tema ETFs’ swift addition of CXMT to its DISK fund underscores the strategic importance of gaining early exposure to China’s leading memory manufacturer. The move comes amid a global undersupply of memory driven by AI demand, positioning CXMT as a key player in serving China’s rapidly growing AI ecosystem. This investment highlights the active management and agility required to capture opportunities in a sector characterized by intense competition and rapid technological change.
What we're watching
- Market Access
- Whether foreign investors will gain exposure to CXMT before it is added to the Shanghai-Hong Kong Stock Connect.
- AI Demand
- How AI-driven memory demand will impact CXMT’s market position and profitability.
- Competitive Dynamics
- The pace at which CXMT can challenge established DRAM producers like SK hynix, Samsung Electronics, and Micron Technology.
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