Franchises, Licenses & Network Fees

Own businesses that monetize franchise rights, proprietary technology or transaction networks rather than primarily selling physical inventory. This cross-sector basket targets recurring usage and renewal economics, distinct from a pure payments or software portfolio. With technology shares under pressure, the approach pairs semiconductor licensing and engineering software with established franchise and payment-network businesses; valuation compression and weaker customer activity remain risks. Launch basket (equal weight): MCD, QCOM, SNPS, V, MA, CDNS Rules: 1. No inverse, leveraged or volatility ETFs. 2. Only names tradable at the enrolled brokers (Moomoo): no OTC listings, no dead tickers, nothing on the refused list.