OAIS8 · Equities

AI & Software 8

T2ConvictionKYCRSTS 0.54

Reference net asset value

193.00usd

Calibrated launch value from the rulebook. This basket carries no order panel today.

Family

Equities

Risk profile

Growth

Holdings

Weighting

Liquidity adjusted, 25% cap

Rebalance

Monthly

Sharpe grade

0.54

The thesis

Why 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.

The application layer above the silicon. Palantir for government and enterprise AI deployment, Oracle for cloud-database revenue from the AI buildout, Salesforce and Adobe for AI features inside the largest install bases in business software, Snowflake for the data layer, Accenture for implementation services, Shopify for AI-native commerce, AppLovin for AI-driven ad targeting. A bet that incumbents capture AI margin, not just startups.

Equities 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.

How it is meant to be used

Built forAllocators who can tolerate 40 to 60% drawdowns for a longer payoff window.

Typical sizing5 to 15% of a crypto sleeve

Weighting ruleLiquidity adjusted, 25% cap

Risk tierGrowth

Composition

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.

Weight by area

8 holdings

Largest holding

PLTRon 20.0%

The single name that moves net asset value most.

Top three

50.0%

Share of the basket held by its three largest names.

Effective holdings

7.27

Equal weight equivalent of 8 named positions.

Published weights

largest first

Published weights for all 8 holdings, largest first.
Holding	Traded as	Weight
01PLTRon	dPLTR	20%
02ORCLon	dORCL	16%
03CRMon	dCRM	14%
04ADBEon	dADBE	13%
05ACNon	dACN	11%
06SHOPon	dSHOP	11%
07SNOWon	dSNOW	8%
08APPon	dAPP	7%
Total		100%

Holdings

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.

PLTRon20%Growth
Palantir is the leading enterprise and government AI-deployment platform. Foundry and AIP position it as the implementation layer for AI-into-operations contracts.
Performs in AI-software-adoption phases. Sensitive to government-contract-cycle headlines and commercial-growth misses.
valuation extensiongovernment-cycle exposure
ORCLon16%Growth
Oracle is the legacy enterprise-database franchise and the rapidly growing fourth-largest cloud operator.
Performs in AI-cloud-adoption narratives. Sensitive to capex-headline pressure and OCI-growth-deceleration concerns.
capex elevationcloud-share execution
CRMon14%Growth
Research note pending for this holding. Its weight and its role in the mandate are published above.
ADBEon13%Growth
Research note pending for this holding. Its weight and its role in the mandate are published above.
ACNon11%Growth
Research note pending for this holding. Its weight and its role in the mandate are published above.

Show the remaining 3 holdings

SHOPon11%Growth
Research note pending for this holding. Its weight and its role in the mandate are published above.
SNOWon8%Growth
Research note pending for this holding. Its weight and its role in the mandate are published above.
APPon7%Growth
Research note pending for this holding. Its weight and its role in the mandate are published above.

The record

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.

Backtested record

1827 day window

Sharpe grade

0.54Simulated

Measured over 1827 days against a bitcoin reference of 0.21.

Total return

+114.2%

Across the full window, simulated.

Max drawdown

−59.5%

Deepest peak to trough. 332 days to recover.

Annualised volatility

30.2%

Standard deviation of daily returns, annualised.

Beta vs bitcoin

0.25

Correlation 0.36.

Effective holdings

7.27

Of 8 named. Equal weight equivalent, from the published weights.

Simulated rebalance

Quarterly

Backtest assumption, not a published cadence.

Jensen alpha

+8.9%

Excess over what beta to bitcoin alone explains.

R squared

0.13

Share of the basket's moves bitcoin explains.

Bitcoin reference · Sharpe 0.21 · max drawdown −76.6%

OCBE100 reference · Sharpe 0.34 · max drawdown −61.1%

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. OAIS8 is part of a public preview.

Loss tail

95% VaR · loss tailhistorical

1-week · 7d−8%

1-month · 30d−17%

Max expected loss over the horizon · 95% confidence · historical distribution. There is a 5% chance the actual loss is larger.

Across timeframes

vs bitcoin

Simulated return for this basket over five windows, with a Sharpe and a comparison with bitcoin wherever the window is long enough to publish one.
Window	Return	Sharpe	vs BTC
Full window	+121.3%	0.57	+0.13
1 year	−1.5%	−0.05	+0.74
6 months	+25.0%	1.63	+0.11
3 months	+6.8%	0.86	−0.33
1 month	+23.7%	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.

Risk

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.

Structural flags

3 on this basket

Short price historyHigh
PLTRon, ORCLon, CRMon and 5 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.
Deep historical drawdownMedium
Max drawdown reached −59% in the backtest window. Size accordingly.

If it goes wrong

effect on net asset value

4 downside scenarios for this basket, and the loss each one would put on net asset value.
Scenario	Loss on net asset value
PLTRon loses half its valueLargest holding, 20.0% of the basket	−10.0%Mechanical
The three largest holdings fall 30%PLTRon, ORCLon, CRMon · 50.0% of the basket together	−15.0%Mechanical
The deepest simulated fall repeatsRecorded once in the window, 332 days to recover	−59.5%Recorded
A bad month, one in twenty95% historical value at risk over 30 days	−16.6%Measured

The mechanical rows hold every other holding still, which is the optimistic case. This basket measured 0.36 correlation to bitcoin over its window, which is loose enough that the holdings can move apart. Even so, a shock rarely lands on one name alone. Read the figures as a floor on the damage, never a ceiling.

The research behind the construction

Research

Methodology

Construction rules, weighting and rebalance cadence.

Research

Stress tests

Drawdown behaviour through the 2022, 2023 and 2024 cycles.

Research

Versus bitcoin

How multi asset construction compares with a single asset hold.

Tokenized equity execution is not open yet

Single stocks route through Dinari and ETF coverage through Backed Finance, settling on the EVM rail once identity checks clear. The execution surface for this family arrives with the next release. Composition, weights and the measured record above are current.

Read the methodology