Westwood Holdings Launched New ETF on Texas Exchange
The firm introduced a power and infrastructure fund as major corporations shift their listings to the new Texas venue.
Updated on Sept. 26, 2026 in Business Strategy
Live Poll
Should companies shift their headquarters or listings to states with lower taxes and lighter regulations?
Dallas-based asset manager Westwood Holdings has launched the Westwood Salient Enhanced Power & Infrastructure ETF on the Texas Stock Exchange. The move coincides with a wave of corporate departures from the NYSE as firms like Energy Transfer, Sunoco, and Dillard's relocate their listings.
Why it matters
The energy infrastructure sector requires a massive $600 billion investment to meet the power demands of AI data centers, which are projected to need 50 gigawatts of additional capacity by 2030. Texas has positioned itself to capture this growth by offering lower taxes and specialized business courts.
AI spending among megacaps hit $750 billion in 2026, while the current energy interconnection queue holds 2,000 gigawatts of potential capacity. Industry analysts estimate a 10-year investment of $600 billion is required to modernize the grid for future demand.
The players
Westwood Holdings
This is a Dallas-based asset manager that provides investment strategies focused on the power and infrastructure sectors.
Energy Transfer
This is a major energy infrastructure company that has announced plans to move its stock listing to the Texas Stock Exchange.
Sunoco
This is a wholesale fuel distributor and convenience store operator that is shifting its stock listing away from the NYSE.
Dillard's
This is a department store chain that reincorporated in Texas in 2025 and is moving its listing to the new state exchange.
The details
Westwood Holdings is leveraging its Dallas base to capitalize on the shift of major corporations toward Texas, which now hosts the highest number of Fortune 500 companies in the U.S. The new ETF focuses on traditional utilities and next-generation power technologies, filling a gap for investors betting on the electrification needs of the AI sector.
Timeline
Dillard's reincorporated in Texas in 2025.
The Texas Stock Exchange opened in the summer of 2026.
AI spending among megacaps reached $750 billion in 2026.
The U.S. will require 50 gigawatts of new power by 2030.
Market Landscape
The emergence of the Texas Stock Exchange follows the state's codification of the business judgment rule, which creates a competitive corporate legal climate to challenge established hubs like Delaware. This shift represents a broader trend of regional financial centers capitalizing on local tax and regulatory advantages to attract Fortune 500 companies.
Average investors now have new, regionally-focused financial products like the Westwood Salient ETF available to track the growing Texas power infrastructure ecosystem. Clients and shareholders of companies like Dillard's may see changes in how those firms interact with financial markets as they move to the new exchange.
The takeaway
The rise of the Texas Stock Exchange highlights how state-level legal and tax policies can significantly alter the landscape for corporate listings and financial services. Investors should track the infrastructure build-out closely as it remains the primary driver for power-sector market growth through 2030.
Further reading
For more on the financial climate in the region, visit the Business Strategy section.
Source note: This article includes information reported by CNBC.
Live Poll
Should companies shift their headquarters or listings to states with lower taxes and lighter regulations?
