AI Leadership 8
Calibrated launch value from the rulebook. The live reading, the chart and the order panel sit on the desk.
Buy OAILEAD8Why this basket exists
What the construction is trying to capture, who it is built for, and how it is meant to be sized inside a wider allocation.
Pure AI-buildout thesis expressed cross-asset. NVIDIA + Microsoft + Broadcom for the chip and software stack. Applied Materials and Arista for the data-center picks-and-shovels. ETH for the on-chain compute primitive. SOL for high-throughput inference settlement. Gold as the only non-AI hedge. Backtested Sharpe 1.34 over 729 days, total return +87.3%. The thematic concentration is deliberate: this is the AI conviction expression, not a diversifier.
- Diversified family · Growth risk tier
- Rule-based, divisor-method NAV
No committee note is published for this basket yet, so the catalogue description above stands in until one is written.
8 holdings, drawn to scale
Each tile's area is its weight in the basket, so the picture and the table below it are the same data read two ways.
| Holding | Share | Weight | |
|---|---|---|---|
| 01NVDAon | 22% | ||
| 02MSFTon | 15% | ||
| 03AVGOon | 12% | ||
| 04ETH | 12% | ||
| 05AMATon | 10% | ||
| 06ANETon | 10% | ||
| 07SOL | 10% | ||
| 08GLDon | 9% | ||
| Total | 100% |
Why each name earned its seat
Research notes per constituent: the case for the asset, the regime that suits it, and the risk the seat carries.
- NVDAon22%Core anchor
NVIDIA is the single largest contributor to risk-adjusted returns in the equity universe over the 2-year backtest window. Designs the GPUs that train every frontier model.
Performs in AI-capex-up regimes. Sensitive to hyperscaler demand-softening signals and to China-export-control news.
valuation extensionChina export-control exposure - MSFTon15%Core anchor
Microsoft is the dominant enterprise-software franchise and the largest beneficiary of the AI-software margin pool through Azure and the OpenAI partnership.
Performs in enterprise-AI narrative phases. Defensive in flight-to-quality regimes. Sensitive to cloud-margin compression news.
AI-capex margin compression - AVGOon12%Core anchor
Broadcom is the second-largest US chip franchise by market cap and the dominant custom-ASIC vendor for hyperscaler workloads.
Performs in AI-capex cycles and hyperscaler ASIC ramps. Sensitive to VMware-integration noise and enterprise-software cycle softness.
VMware integration risk - ETH12%Core anchor
Ethereum is the only smart-contract platform with the TVL, developer mindshare, and settlement depth to count as core infrastructure.
Outperforms BTC in DeFi cycles and L2 adoption waves. Lags when narratives shift to alt-L1s or when L2 fragmentation eats into mainnet fee capture.
fee-revenue regime risk - AMATon10%Infrastructure
Applied Materials is the largest semiconductor-equipment maker by revenue. Provides the deposition and etch equipment for leading-edge logic and DRAM.
Performs in capex-cycle ups. Sensitive to fab-capex deferrals and China-export-control headlines.
capex-cycle exposure
Show the remaining 3 holdings
- ANETon10%Infrastructure
Arista Networks is the dominant data-center networking vendor for hyperscalers. AI-cluster networking demand drives multi-year revenue growth.
Performs in hyperscaler-capex cycles. Sensitive to hyperscaler-spending-pause headlines.
hyperscaler concentration - SOL10%Growth
Solana is the highest-throughput smart-contract platform in production and the credible challenger to Ethereum at the application layer.
Highest beta of the L1 majors. Outperforms in retail-led risk-on phases. Drawdowns sharper than BTC in flight-to-quality regimes.
historical outagesvalidator concentration - GLDon9%Hedge
SPDR Gold Shares is the largest gold ETF and the cleanest tokenized expression of an institutional gold position.
Performs in flight-to-quality, inflation-up, and dollar-weakness or central-bank-buying cycles.
correlation dilution if duration sells off
What the numbers say
Simulated on historical constituent prices. A Sharpe is only published once the measured window clears 90 days, and drawdowns keep their sign.
Every figure above is simulated on historical constituent prices for a basket that has not traded. It describes how the rules would have behaved, not how they will behave. OAILEAD8 is part of a public preview.
Max expected loss over the horizon · 95% confidence · historical distribution. There is a 5% chance the actual loss is larger.
| Window | Return | Sharpe | vs BTC |
|---|---|---|---|
| Full window | +87.3% | 1.34 | +0.90 |
| 1 year | +22.5% | 0.91 | +1.69 |
| 6 months | +31.4% | 2.95 | +1.43 |
| 3 months | +13.9% | 2.57 | +1.38 |
| 1 month | +22.4% | Not graded | · |
Returns are simulated over each window. A Sharpe is published only once that window clears 90 days, so the shorter rows read Not graded and carry no comparison with bitcoin. Short windows flatter and punish at random; read the full window first and treat the rest as texture.
What could go wrong
Priced off this basket's own weights rather than off a generic disclaimer, so every figure below can be checked against the table above.
Higher beta than the broad market. Drawdowns of 40 to 60% during risk-off regimes are within historical range. Size accordingly.
- Top-name weightLow
NVDAon is the largest position at 22%. Capped by methodology but still drives index direction.
- Short price historyHigh
NVDAon, MSFTon, AVGOon and 3 more have under a year of usable history. Backtest metrics carry wider error bars.
- Routing dependenceMedium
Routes through Dinari (stocks) and Backed Finance (ETFs). Settles on the EVM rail. KYC at the OLTA layer, not available in the US today.
| Scenario | Loss on net asset value |
|---|---|
| NVDAon loses half its valueLargest holding, 22.0% of the basket | −11.0%Mechanical |
| The three largest holdings fall 30%NVDAon, MSFTon, AVGOon · 49.0% of the basket together | −14.7%Mechanical |
| The deepest simulated fall repeatsDeepest peak to trough in the measured window | −36.4%Recorded |
| A bad month, one in twenty95% historical value at risk over 30 days | −14.3%Measured |
The mechanical rows hold every other holding still, which is the optimistic case. This basket measured 0.62 correlation to bitcoin over its window: the holdings often move together, though less tightly than a broad crypto basket. Read the figures as a floor on the damage, never a ceiling.
The research behind the construction
Take a position in OAILEAD8
Size a position against the live net asset value, with the full record on the same screen. Funds in this public preview are simulated, so an order here moves a simulated balance and settles nothing. The EVM settlement rail opens with mainnet in the first half of 2027.