Next Internet

Next Internet

Model portfolio

A public equal-weight book of companies building next-generation internet infrastructure — cloud, semiconductors, digital assets, connectivity, and the data-center stack those services run on.

$25,000 illustration from the Sep 5, 2025 snapshot. Not a fund, ETF, or investment advice.

Illustrative value
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Since baseline
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vs SPY
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Names
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Baseline
Sep 5, 2025
As of
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What this model is for

A public research book of U.S.-listed companies we think sit on the path to a next-generation internet: shared cloud, semiconductors, connectivity and IoT, digital wallets and payment rails, and the data-center stack those services run on.

The illustration is equal-weight $25,000, marked from the Sep 5, 2025 snapshot (or from the add price for names that joined later) to current prices. Nobody can buy “Next Internet” as a fund here. A licensed advisor can implement a similar book on your behalf.

  • Equal-weight at baselineEach live name starts with the same slice of $25,000. Weights then drift with price — this page does not rebalance.
  • The live bookDeleted and disabled names are out. Adds stay in until they are removed. The theme list is the current set.
  • SPY is a comparison onlyA liquid S&P 500 proxy so you can see the illustration next to the broad market — not a mandate or a target.
  • Five viewsHoldings is the live sheet. Overview is the thesis. Performance is growth of $100. Fundamental Analysis is the screen. Risk is the per-name reports.
  • Not advice, not a productHypothetical marks ignore taxes, fees, and trading costs. Past results do not guarantee future results.

What the book is built around

  • Loading current names…From the live book

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Snapshot details

Type
Public model portfolio — not a fund or ETF
Construction
Equal-weight at baseline
Illustrative capital
$25,000
Benchmark
SPY (for comparison only)
Baseline
September 5, 2025
Rebalance
None — weights drift with price
How to use it
Talk with a licensed advisor
Website
nextinternet.fund

Growth of $100

Equal-weight Next Internet model versus SPY, indexed to 100 on Sep 5, 2025. Daily closes.

Model return
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SPY return
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Excess vs SPY
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Names in series
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Returns are hypothetical, ignore taxes, fees, and trading costs, and assume the Sep 5, 2025 book was held with no adds or drops. Extraordinary results may not repeat.

Fundamental analysis

Look up a listed name. P/E of 20 means $20 per $1 of earnings. Forward PEG under 1 is reasonably priced vs growth. Not investment advice.

Enter a ticker to generate a report.

Variable importance

Multiple regression of live-book return since Sep 5, 2025 on the fundamental factors. Ranked by |standardized beta|. PEG is left out because it is P/E ÷ growth.

Fitting the live book…

Market cap
Share price × shares outstanding.
Share price
Last sale (or last close).
Dividend yield
Annual dividends per share ÷ share price.
P/E ratio
Share price ÷ trailing-twelve-month EPS. 20 means $20 per $1 of earnings.
Forward P/E
Share price ÷ next-12-month (or FY1) expected EPS.
Book value per share
(Shareholders’ equity − preferred) ÷ shares outstanding.
Price to book
Share price ÷ book value per share. Used when P/E is noisy.
5-year earnings growth
Analyst long-term (next 5 years) EPS growth estimate, stored as a percent number (57 not 0.57). Not trailing GAAP EPS CAGR.
Trailing PEG
Trailing P/E ÷ 5-year growth rate. Want less than 1.
Forward PEG
Forward P/E ÷ 5-year growth rate. Primary score. Under 1 is reasonably priced vs growth.
Inside ownership
Insider shares ÷ shares outstanding × 100.
Variable importance
OLS of since-inception return on forward P/E, 5-year growth, price-to-book, dividend yield, and log market cap. Predictors winsorized at 5/95. Importance is the absolute standardized coefficient.

News

Headlines for this ticker, with publisher pictures when they provide one. Same feed style as Portfolio news. Not investment advice.

  • Load a ticker to see headlines.

Sector research

Why each theme is in the live book, plus headlines from Google News and Yahoo Finance. Not investment advice. Third-party headlines; we store URL, title, source, and time only.

Loading research…

Portfolio news

Headlines for names in the live book, from Yahoo Finance and Google News. Publisher pictures when they provide one. Not investment advice.

  • Loading headlines…

About

Next Internet Fund

A public model portfolio of next-generation internet names — and a path to a licensed advisor who can manage a similar book. Not a fund you can buy here.

This is not investment advice and not a fund you can buy. Next Internet is a public model portfolio. Values can go down as well as up. A licensed advisor can implement a similar book; past results do not guarantee future returns.