REBALANCED
Rebalancing KO, NET, SPGI, UBER
> What it did to the book
| Holding | Weight before | Weight after |
|---|---|---|
| KO · The Coca-Cola Company | 6.1% | — |
| NET · Cloudflare, Inc. | 14.9% | 23.0% |
| SPGI · S&P Global Inc. | 7.8% | — |
| UBER · Uber Technologies, Inc. | — | 12.0% |
UBER has massive distribution and the market seems to discount them due to robotaxis, which I think are actually a bull-case for Uber. They can get all the advantages without the massive capex.
NET is running what feels like half the internet at this point and I see both their security and hosting relevance to increase due to AI. They are also expanding into AI economics and payment infra.
SPGI recovered like Rebounce Capital said. I don’t understand that company so I’ll sell it again.
KO is not exciting.
> How this has aged
Total return from Sep 3, 2026 to Oct 19, 2026. Computed from prices after the fact, not self-reported.
| Holding | Since | FTSE All-World |
|---|---|---|
| The Coca-Cola Company | +8.8% | +0.5% |
| Cloudflare, Inc. | +8.2% | +0.5% |
| S&P Global Inc. | −1.8% | +0.5% |
| Uber Technologies, Inc. | −4.7% | +0.5% |
- Book since
- +5.2%
- FTSE All-World since
- +0.5%