Twelve compositions to start from

The seven largest names on the tape, held at almost equal weight.

• NVDA14.5%
• AAPL14.25%
• MSFT14.25%
• AMZN14.25%
• GOOGL14.25%
• META14.25%
• TSLA14.25%

The compute supply chain, from design through memory to the fab.

• NVDA30%
• TSM22%
• AMD20%
• MU15%
• MRVL13%

Chips plus the clouds, boxes and software that consume them.

• NVDA32%
• MSFT22%
• PLTR18%
• MU14%
• DELL14%

The exchange, the treasury company and the stablecoin issuer.

• COIN40%
• MSTR33%
• CRCL27%

Feeds, forums, worlds and the studios that fill them.

• META32%
• RDDT22%
• RBLX18%
• TTWO15%
• SNAP13%

The names retail actually trades, bundled. High beta by construction.

• GME35%
• TSLA25%
• DJT22%
• RDDT18%

Broad US beta: the S&P and the Nasdaq 100, nothing clever.

• SPY60%
• QQQ40%

Bullion, short bills and two large-cap pharma names.

• GLD40%
• SGOV25%
• JNJ20%
• PFE15%

Obesity, mRNA, telehealth and the old guard together.

• LLY35%
• MRNA22%
• HIMS18%
• PFE13%
• JNJ12%

The listed launch and lander companies, in one line.

• SPCX55%
• RKLB27%
• LUNR18%

Where discretionary dollars actually land.

• AMZN32%
• COST25%
• LULU18%
• RIVN13%
• GME12%

The power the datacentres are queueing for.

• CEG26%
• VST22%
• GEV20%
• VRT18%
• OKLO14%