Proprietary IP: Software Licensors & Franchises

Own businesses that commercialize proprietary intellectual property through software licenses, technology royalties or franchise agreements, rather than competing primarily on manufacturing capacity. With market breadth subdued, this basket emphasizes embedded customer relationships and repeat monetization of established intellectual property. Licensing durability is the common thread, although weaker enterprise spending, semiconductor demand or restaurant traffic could pressure results. Launch basket (equal weight): SNPS, ORCL, INTU, QCOM, MCD, CDNS, ADSK, YUM 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.