ETF Lens: Tableau Acquisition

Salesforce announced this morning that it will acquire data visualization platform Tableau for an all-stock deal valued at $15.7 billion. This was a huge jump on Tableau’s market cap, which was at a $10.79B valuation by the close of trading on Friday.

With this acquisition, Tableau Class A and B shares will be exchanged for 1.103 shares of Salesforce common stock.

But surely we aren’t the only ones interested in how Tableau has been represented in the world of ETFs. In order to dive into Tableau’s ETF ownership, we used the reverse ticker lookup function in the ETFLogic Insights platform and the unique corporate insights report which we provide as a part of our corporate data suite.

NameTableau Software Inc
Fund Count69
Notional Held$357.6M

As we can see, 69 ETFs have positions of Tableau, totaling $357.6m. For a major tech platform, this seems to be an under-representation compared to its competitors. Below are also the top 5 names with Tableau holdings.

ETFPeer GroupWeight % in FundNotional HeldSharesExpense Ratio
SYGU.S. Equity Active Large Cap2.87%$962K7,6820.61%
NUMGU.S. Equity Fundamental Factor Mid Cap1.00%$552K4,4110.40%
IRBOGlobal Equity Non-Cap-Weighted Broad-based0.99%$373K2,9760.47%
SLTU.S. Equity Non-Cap-Weighted Large Cap0.93%$108K8640.29%
GDATGlobal Equity Technology Sector0.93%$93K7390.50%
XITKU.S. Equity Fundamental Factor Technology Sector0.85%$619K4,9440.45%
IGVNorth America Equity Technology Sector0.81%$22M173,9230.47%
PMOMU.S. Equity Technical Factor Broad-based0.73%$41K3260.29%
XSWU.S. Equity Non-Cap-Weighted Technology Sector0.63%$1M11,7460.35%
OGIGGlobal Equity Fundamental Factor Technology Sector0.63%$319K2,5500.48%
AIQDeveloped Markets Equity Technology Sector0.54%$226K1,8080.68%
VBKU.S. Equity Fundamental Factor Small Cap0.52%$47M372,6110.07%
XTGlobal Equity Factor Technology Sector0.46%$11M85,7560.47%
JKHU.S. Equity Fundamental Factor Mid Cap0.43%$2M18,4760.30%
ETHOU.S. Equity ESG Broad-based0.36%$196K1,5660.45%
JHMTU.S. Equity Factor Technology Sector0.31%$175K1,4010.40%
SCHMU.S. Equity Mid Cap0.29%$17M139,5990.04%
IWPU.S. Equity Fundamental Factor Mid Cap0.28%$30M238,1850.25%
OSIZU.S. Equity Large Cap0.26%$14K1130.19%
SFYXU.S. Equity Fundamental Factor Large Cap0.25%$16K1260.00%
JMOMU.S. Equity Technical Factor Large Cap0.24%$100K8010.12%
VBU.S. Equity Small Cap0.24%$59M467,3950.05%
SMMDU.S. Equity Broad-based0.20%$69K5500.15%
VXFU.S. Equity Broad-based0.17%$13M100,5000.07%
SIZEU.S. Equity Non-Cap-Weighted Broad-based0.17%$648K5,1730.15%
EUSAU.S. Equity Non-Cap-Weighted Broad-based0.16%$438K3,4970.15%
IYWU.S. Equity Technology Sector0.16%$6M48,8550.43%
FTECU.S. Equity Technology Sector0.16%$4M29,3210.08%
IUSSU.S. Equity Fundamental Factor Small Cap0.15%$4K280.23%
VGTU.S. Equity Technology Sector0.14%$33M262,4800.10%
IETCU.S. Equity Fundamental Factor Technology Sector0.13%$13K1050.18%
QRFTU.S. Equity Active Large Cap0.13%$4K330.75%
ROMU.S. Equity Technology Sector 2x Leveraged0.13%$411K3,2790.95%
IWRU.S. Equity Mid Cap0.12%$23M184,4370.20%
IGMNorth America Equity Technology Sector0.12%$2M15,1290.47%
JHMMU.S. Equity Factor Mid Cap0.11%$1M9,6020.45%
EQWMU.S. Equity Non-Cap-Weighted Mid Cap0.11%$27K2180.25%
VFMOU.S. Equity Active Broad-based0.11%$13K1080.13%
EQALU.S. Equity Non-Cap-Weighted Large Cap0.09%$504K4,0260.20%
IWFU.S. Equity Fundamental Factor Large Cap0.07%$28M227,0770.20%
VONGU.S. Equity Fundamental Factor Large Cap0.06%$1M10,2820.12%
SCHGU.S. Equity Fundamental Factor Large Cap0.06%$5M37,2800.04%
PRFZU.S. Equity Fundamental Factor Broad-based0.06%$1M9,2300.39%
OMOMU.S. Equity Technical Factor Large Cap0.06%$3K260.19%
RWCDU.S. Equity Non-Cap-Weighted Broad-based0.05%$8K650.45%
ONEOU.S. Equity Factor Large Cap0.05%$193K1,5440.20%
JUSTU.S. Equity ESG Large Cap0.04%$47K3720.20%
SPLGU.S. Equity Large Cap0.04%$848K6,7690.03%
SCHXU.S. Equity Large Cap0.03%$6M46,0800.03%
PBUSU.S. Equity Broad-based0.03%$1K80.04%
MXDUU.S. Equity Technical Factor Broad-based0.03%$38K3000.34%
SCHKU.S. Equity Large Cap0.03%$268K2,1380.05%
IWBU.S. Equity Large Cap0.03%$7M52,3220.15%
IYYU.S. Equity Broad-based0.03%$393K3,1360.20%
VONEU.S. Equity Large Cap0.03%$317K2,5290.12%
ITOTU.S. Equity Broad-based0.03%$6M51,0180.03%
SCHBU.S. Equity Broad-based0.03%$5M37,2960.03%
IWVU.S. Equity Broad-based0.03%$3M22,8120.20%
DYNFU.S. Equity Active Broad-based0.03%$6K440.30%
VTIU.S. Equity Broad-based0.03%$37M291,9740.03%
SPTMU.S. Equity Broad-based0.03%$988K7,8880.03%
VTHRU.S. Equity Broad-based0.03%$127K1,0110.15%
TILTU.S. Equity Factor Broad-based0.03%$371K2,9630.25%
TOKDeveloped Markets Equity Broad-based0.02%$33K2660.25%
JHMLU.S. Equity Factor Large Cap0.02%$200K1,5970.35%
ACWIGlobal Equity Broad-based0.02%$2M15,9060.31%
VTGlobal Equity Broad-based0.02%$2M17,0110.09%
RGLBGlobal Equity Fundamental Factor Broad-based0.01%$2K130.43%
ESGU.S. Equity ESG Broad-based0.01%$6K450.32%

This table is also interactive and includes all 69 ETFs with Tableau holdings.

In order to dive even deeper into ETF ownership, we looked at a report from our corporate insights suite.

Overall, we found Tableau was under-represented in ETFs. Only 35% of Tableau stock is held in smart-beta names – versus 42% for peers. What’s also notable is that Tableau is only listed in a small number of thematic ETFs – which is surprising given its unique position in the tech space.

To receive the full investor insights report for Tableau, or to get more information on the implications of what this acquisition will do for Salesforce stock and its passive ownership by ETFs, please fill out the form below.