GAITHERSBURG, Md., (Aug. 19, 2026) The American Conservative Values ETF (NYSE: ACVF), dual listed on NYSE and NYSE Texas, today released a new analysis comparing responses from four independent artificial intelligence systems; Claude, Grok, Copilot and ChatGPT to the same question: Which large-cap S&P 500 companies do conservatives perceive as woke or liberal? The systems were queried independently, without coordination and without using ACVF’s 37-company boycott list or prior investor surveys as source material.
The results revealed a striking consensus. Fifteen companies appeared on at least two of the four AI-generated lists, and seven; Walt Disney, BlackRock, Alphabet, Meta, Amazon, Nike and Starbucks – appeared on all four. Those same seven companies have also ranked among the leading concerns in ACVF’s investor surveys dating back to the fund’s first year. Overall, 12 of the 15 companies identified by the AI systems have previously appeared in ACVF’s surveys, providing independent confirmation of concerns conservative investors have voiced for years.
“These concerns are why we launched ACVF in 2020,” said William Flaig, CEO and Co-Founder of ACVF. “For more than five years, we have heard from investors who believe too many major corporations are hostile to the values of everyday conservative Americans, while others are rapidly drifting in that direction. The AI findings show those concerns are increasingly visible and justified. We are winning some battles, but the broader fight is far from over.”
The AI consensus also closely tracks ACVF’s current investment screening: 13 of the 15 companies are on the fund’s boycott list. Walmart, one of the two exceptions, was removed in January 2025 after stepping back from several DEI initiatives. Microsoft remains in the portfolio for diversification and risk-management purposes, while ACVF continues to press the company through shareholder engagement.
“There is an obvious irony in using AI tools developed by the same companies we are scrutinizing,” said Tom Carter, President and Co-Founder of ACVF. “That is why we continue pressing these companies for greater transparency and accountability through our shareholder activism.”
About ACVF
The American Conservative Values ETF (ACVF) is an exchange-traded fund that seeks to provide investment results that align with conservative political values while delivering competitive financial returns. ACVF excludes companies that do not align with its core principles, offering investors a values-based alternative in today’s marketplace.
SOURCE: American Conservative Values ETF
Notes:
*Source question: which large-cap S&P 500 companies are perceived as woke/liberal by conservatives. ACVF/acvetfs.com excluded as a source to avoid bias.
(1) Microsoft is not currently on ACVF’s boycott list; ACVF has filed two shareholder proposals — a 2022 Diversity and Inclusion Cost Benefit Analysis, and a 2025 proposal, Risks of Censorship in Generative Artificial Intelligence.
(2) Walmart was on ACVF’s boycott list until January 3, 2025, when it was removed after Walmart joined a growing list of companies stepping back from diversity, equity and inclusion (DEI) efforts. See ACVF’s related press release
Sort methodology: Ranked by # of lists in agreement, with average rank as the tiebreaker.
**Walmart has since reversed the DEI policies that drew this criticism — included here for historical consensus, not current stance.
15 companies cutoff based on appearing on 2 or more of the 4 source lists — the natural cutoff point, as the methodology above implies.
All 4 source lists were AI-generated, not drawn from a single authoritative ranking. They reflect perception in conservative commentary, not verified fact about the companies. Rankings can shift, and a company’s stance may have changed since each list-generating AI’s training data.