GROWTH ENGINE · INCEPTION
Reinvestors.
When today’s gross profit builds tomorrow’s business.
Growing tech businesses that put gross profit back into product, sales, and capacity while keeping growth reasonably efficient.
01 / THE LIVE MODEL RECORD
What happened to a model $100?
Both lines start at $100 on . The last point is the snapshot.
SPY’s adjusted close moved from $770.57 to $763.99. New entrants receive an equal dollar allocation funded by a model deposit at the prevailing NAV. Unitized NAV keeps those deposits out of the return calculation; holdings are kept for a three-year horizon even when they later leave the screen.
02 / THE IDEA
Why this portfolio exists.
A reinvestor spends today to enlarge its future opportunity. The screen asks whether product development, customer acquisition, and capacity spending are turning into durable gross-profit growth without uncontrolled dilution.
03 / HISTORICAL CONTEXT
What the screen found in the past.
This earlier research test studied stocks that met a related version of the screen, bought at the qualifying point and held for three years. Some gates differ from today’s rules; the results are separate from the live portfolio plotted above.
The test uses historical point-in-time, delisted-inclusive research data. These figures describe average individual stock outcomes, including overlapping three-year windows; they are neither the return of an investable portfolio nor a forecast. The live comparison above uses SPY; this historical comparison uses the broader tech universe. The exact current screen gates appear below.
04 / THE DATED HOLDINGS
Every entry has a date.
45 names pass the screen; 5 remain held after leaving it. Prices are through .
| Company | Added | Current screen | Entry price | Last close | Weight | Since entry |
|---|---|---|---|---|---|---|
| AGYSAgilysys, Inc. | Qualifies | $105.46 | $100.31 | 1.9% | −4.9% | |
| ALKTAlkami Technology, Inc. | Qualifies | $19.90 | $14.04 | 1.4% | −29.4% | |
| AMDAdvanced Micro Devices | Qualifies | $486.82 | $615.73 | 2.5% | +26.5% | |
| APPFAppFolio Inc. | Qualifies | $196.74 | $204.24 | 2.1% | +3.8% | |
| ASMLASML Holding N.V. | Qualifies | $1812.86 | $1808.49 | 2.0% | −0.2% | |
| BILLBill.com Holdings, Inc. | Qualifies | $47.63 | $43.78 | 1.8% | −8.1% | |
| BZKanzhun Limited | Qualifies | $15.96 | $14.95 | 1.8% | −6.3% | |
| CAMTCamtek Ltd. | Qualifies | $172.34 | $153.79 | 1.8% | −10.8% | |
| CART company storyMaplebear Inc. | Qualifies | $48.83 | $44.11 | 1.8% | −9.7% | |
| CDNSCadence Design Systems | Qualifies | $325.76 | $350.73 | 2.1% | +7.7% | |
| CRWDCrowdStrike Holdings, Inc. | Qualifies | $220.74 | $266.09 | 2.4% | +20.5% | |
| DASHDoorDash, Inc. | Qualifies | $213.85 | $182.18 | 1.7% | −14.8% | |
| DDOGDatadog, Inc. | Qualifies | $243.76 | $276.46 | 2.2% | +13.4% | |
| DTDynatrace, Inc. | Qualifies | $49.56 | $59.26 | 2.4% | +19.6% | |
| FLYWFlywire Corp | Qualifies | $17.30 | $17.56 | 2.0% | +1.5% | |
| FSLRFirst Solar | Held after exit | $227.13 | $172.11 | 1.5% | −24.2% | |
| GLBEGlobal-e Online | Held after exit | $40.55 | $40.21 | 2.0% | −0.8% | |
| GTLB company storyGitLab Inc. | Qualifies | $41.17 | $49.95 | 2.4% | +21.3% | |
| GWREGuidewire Software, Inc. | Qualifies | $140.09 | $155.32 | 2.2% | +10.9% | |
| HOODRobinhood Markets, Inc. | Qualifies | $104.69 | $111.15 | 2.1% | +6.2% | |
| HSAIHesai Group | Qualifies | $18.95 | $15.93 | 1.7% | −15.9% | |
| INTRInter & Co, Inc. | Qualifies | $5.54 | $5.30 | 1.9% | −4.3% | |
| INTUIntuit | Held after exit | $331.47 | $282.78 | 1.7% | −14.7% | |
| KVYOKlaviyo, Inc. | Qualifies | $17.46 | $16.19 | 1.8% | −7.3% | |
| LITELumentum Holdings Inc. | Qualifies | $935.70 | $1045.78 | 2.2% | +11.8% | |
| LMNDLemonade, Inc. | Qualifies | $51.41 | $46.76 | 1.8% | −9.1% | |
| MELI company storyMercadoLibre, Inc. | Qualifies | $1825.14 | $1685.12 | 1.8% | −7.7% | |
| MRVLMarvell Technology, Inc. | Qualifies | $201.42 | $268.08 | 2.6% | +33.1% | |
| NOWServiceNow, Inc. | Qualifies | $123.78 | $137.76 | 2.2% | +11.3% | |
| NU company storyNu Holdings Ltd. | Qualifies | $15.23 | $13.29 | 1.7% | −12.7% | |
| NVMINova Ltd. | Qualifies | $407.52 | $386.60 | 1.9% | −5.1% | |
| OKTAOkta, Inc. | Qualifies | $150.06 | $212.63 | 2.8% | +41.7% | |
| PANWPalo Alto Networks, Inc. | Qualifies | $338.49 | $396.25 | 2.3% | +17.1% | |
| PCTYPaylocity | Qualifies | $144.20 | $146.60 | 2.0% | +1.7% | |
| PDDPDD Holdings | Held after exit | $88.20 | $76.50 | 1.7% | −13.3% | |
| RMBSRambus Inc. | Qualifies | $101.32 | $107.29 | 2.1% | +5.9% | |
| SESea Limited | Qualifies | $111.66 | $95.27 | 1.7% | −14.7% | |
| SEZLSezzle Inc. | Qualifies | $114.41 | $109.72 | 1.9% | −4.1% | |
| SHOPShopify Inc. | Qualifies | $149.68 | $149.09 | 2.0% | −0.4% | |
| SKHYSK hynix Inc. | Qualifies | $152.38 | $193.50 | 2.5% | +27.0% | |
| SPGIS&P Global Inc. | Qualifies | $435.88 | $388.16 | 1.8% | −10.9% | |
| SPSCSPS Commerce, Inc. | Qualifies | $74.40 | $84.20 | 2.2% | +13.2% | |
| TCOMTrip.com Group | Held after exit | $45.67 | $38.76 | 1.7% | −15.1% | |
| TENBTenable Holdings, Inc. | Qualifies | $36.95 | $36.11 | 1.9% | −2.3% | |
| TSMTaiwan Semiconductor Manufacturing | Qualifies | $429.37 | $459.20 | 2.1% | +6.9% | |
| TTDThe Trade Desk, Inc. | Qualifies | $13.32 | $12.10 | 1.8% | −9.2% | |
| TWTradeweb Markets Inc. | Qualifies | $108.09 | $103.30 | 1.9% | −4.4% | |
| VCYTVeracyte, Inc. | Qualifies | $42.51 | $44.19 | 2.1% | +4.0% | |
| WDAYWorkday, Inc. | Qualifies | $174.31 | $186.75 | 2.1% | +7.1% | |
| ZSZscaler, Inc. | Qualifies | $176.66 | $198.78 | 2.2% | +12.5% |
No holdings match this filter.
“Since entry” compares each stock’s dividend-adjusted closing price with its originally logged entry price; it is not the portfolio return. Entry prices were indicative model prices, not verified trade fills. Weights reflect the dated model snapshot. A name leaving the screen remains in the cohort under the three-year hold rule.
THE SCREEN, IN DETAIL
What has to be true?
The current rule set is recorded with the screen. A pass starts the research process; it is not a conclusion about the stock.
- Gross margin > 40%; 3-year revenue growth > 15%
- R&D + S&M + capex > 40% of gross profit
- Owner Rule of 40 > 25%; total growth efficiency > 0.15
- Annual share change between −2% and +6%
- Altman Z > 1.0; Beneish < −1.49, or unavailable
KEEP FOLLOWING THE RESEARCH
The numbers lead back to the business.
These dated, hypothetical model results and historical tests are for independent research, not personalized investment advice or client account performance.