The book, by sector.

Payments rails, exchanges, credit data, banks, asset managers, and fintech — money moving, not software parked next to it.

Enterprise software, security, data platforms, and cloud infrastructure — seat, consumption, and system-of-record compounders.

Power generators, utilities, and LNG — the molecules and megawatts, not the turbines and switchgear that sit in Industrials.

Aerospace, automation, power equipment, and the picks-and-shovels names behind electrification and data-center buildout.

Network-effect consumer and marketplace businesses — ads, commerce, media, mobility, and the hyperscalers and GPU clouds that sit on top of them.

Design, foundry, memory, equipment, EDA, and the AI compute stack — the capex cycle the rest of the book is levered to.

Uranium, copper, precious metals, and the miners that produce them — scored as commodities, not as software lookalikes.

Managed care, devices, and therapeutics — durability from regulation, switching costs, and clinical lock-in.

Monetary protocols and the equity proxies levered to them — a different moat framework from the miners in Hard Assets.

Retail, apparel, and luxury brands — membership flywheels and pricing power, not platforms and not financials.