Looking for a GVIP alternative? What the hedge fund VIP ETF holds, and following one fund in your own brokerage instead

I'm Chris, one of the co-founders of Autopilot. If you've looked for a way to own what hedge funds own, you've probably run into GVIP.

It's a real product with a clear rule. Here's what it holds, what it isn't, and the other ways to get at the same idea.

One thing first, because we're an SEC-registered investment adviser and I have to say it. Autopilot is the app. The actual investment advice comes from Autopilot Advisers, LLC. If you want the full legal version of anything in here, it's on our legal page.

1) What GVIP is

GVIP is the Goldman Sachs Hedge Industry VIP ETF. I read Goldman Sachs Asset Management's fund overview for it, dated August 31, 2026, on September 24, 2026.

It seeks to track the Goldman Sachs Hedge Fund VIP Index. The overview describes the rule. Among hedge funds with more than $100 million in US-listed stocks, it picks the fundamentally driven managers, the ones with between 10 and 200 distinct equity positions. Then it finds the 50 US-listed stocks that show up most often in those managers' top 10 reported holdings.

Those 50 are equally weighted and allowed to drift with performance until the next quarterly rebalance. It lists a total expense ratio of just under half of one percent a year.

2) What it isn't

Goldman says it plainly: the fund is not a hedge fund and does not invest in hedge funds.

It owns the stocks hedge funds report holding, long only. It doesn't short, it doesn't use a hedge fund's leverage, and it only reflects what funds reported, not what they did after.

For those unaware, a US hedge fund's reported holdings come from its quarterly 13F. A 13F can be filed 45 or more days after the quarter closes, so anything built on reported holdings is working from positions that are already old.

3) The alternatives, depending on what you want

• A consensus of many funds: if GVIP's idea is what you like, what a lot of funds own at the same time, the Hedge Fund Conviction Index from Wall St. Rank is built around the same question, with an analyst-rating filter on top. It's explained in Following the stocks hedge funds agree on.

• One specific fund: if you'd rather follow one manager's book than an average of many, Autopilot's trackers follow individual 13F filers, like Berkshire Hathaway, Scion, Citadel, Bridgewater, and Pershing Square. The full list is in Every investor and fund tracker on Autopilot.

• A person who runs their own: some Pilots publish Portfolios they manage themselves, with no filing delay at all, because the Portfolio is the source.

4) What to compare

• Concentration: a basket of fifty equally weighted stocks is diversified next to one fund's top positions, and concentrated next to an index fund.

• Cost: an ETF charges an expense ratio as a share of what you hold. On Autopilot it's a flat subscription, so do the math at your balance.

• Where it lives: GVIP is one security you buy and hold. A Portfolio you follow on Autopilot changes over time, and each change reaches your account as orders.

5) How following works

Pick a Portfolio, connect the brokerage you already use, and allocate money. You give Autopilot Advisers limited authority to send orders to the account you already have. When the Portfolio changes, we send them and your broker fills them. The money stays put.

A flat cash subscription, not a percentage of your balance. Per our Form CRS dated February 2026, Basic Tier has no Base Advisory and Licensing Fee, and Premium Tier is $29.99 to $199.99 a quarter or $99.99 to $699.99 a year. Pilot subscriptions are separate and add on for each Pilot you subscribe to. Because it's a flat dollar amount, it's a bigger share of a small account than a big one, so do the math at your balance.

TLDR: GVIP owns the 50 stocks that show up most often in fundamentally driven hedge funds' top 10 reported holdings, equally weighted and rebalanced quarterly. It isn't a hedge fund. If you want the consensus, compare it with the Hedge Fund Conviction Index. If you want one fund, a tracker follows that fund's filings in your own brokerage.

Frequently asked questions

GVIP ETF alternative

It depends on what you want from GVIP. For the same consensus idea, the Hedge Fund Conviction Index from Wall St. Rank follows what many funds own, with an analyst-rating filter. For one fund's book, Autopilot's trackers follow individual 13F filers like Berkshire Hathaway or Citadel in your own brokerage account.

What is the GVIP ETF?

The Goldman Sachs Hedge Industry VIP ETF. Per Goldman Sachs Asset Management's fund overview dated August 31, 2026, it tracks an index of the 50 US-listed stocks that appear most often in fundamentally driven hedge funds' top 10 reported holdings, equally weighted and rebalanced quarterly.

Is GVIP the same as investing in a hedge fund?

No. Goldman Sachs says the fund is not a hedge fund and does not invest in hedge funds. It owns stocks that hedge funds report holding, long only, with no shorting or fund-level leverage, and it depends on holdings that are reported after the fact.

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Since Autopilot Advisers is an SEC-registered investment adviser, we have to put disclaimers on stuff like this. They're below, and the full version is on our legal page.

Disclosures

© Autopilot Holdings Corporation 2026 — All rights reserved. “Autopilot” refers to Autopilot Holdings Corporation and its wholly-owned, and separately managed subsidiaries, including Autopilot Advisers, LLC, an SEC-registered investment adviser. All investing is subject to investment risks, including possible loss of the principal invested, and past performance is not indicative of future results. View our Customer Relationship Summary and other important information at joinautopilot.com/legal.

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Third-Party Pilot Portfolios are created and managed by independent third parties who are not affiliated with Autopilot, are not acting as your investment adviser, and owe you no fiduciary duty. Third-Party Pilots receive a share of the fees attributable to their Portfolios, which creates conflicts of interest for them and for Autopilot, and they may trade the same securities their Portfolios hold. Autopilot may convert a Third-Party Pilot Portfolio to an Autopilot Portfolio at any time.

Goldman Sachs is not affiliated with Autopilot and has not endorsed it. Descriptions of GVIP are based on Goldman Sachs Asset Management's fund overview dated August 31, 2026, as read on September 24, 2026, and may change. Trackers are Autopilot Portfolios built from public filings by Autopilot Advisers, LLC; the firms named have no relationship with Autopilot and have not endorsed it. A 13F lists reportable US long positions as of quarter end and may be filed 45 or more days later, so a tracker reflects past, partial positions. Listing is not an endorsement of a Pilot or strategy. Fee amounts are quoted from Form CRS dated February 2026 and may change.