Subscription Franchises: Software & Streaming

Own businesses whose core products are sold through recurring subscriptions, making customer retention and renewals the common economic engine rather than a shared technology narrative. The basket pairs enterprise software and security with consumer streaming, distinguishing it from an agentic-AI or cybersecurity portfolio. Current cash-flow yields at Adobe and Salesforce provide valuation support, although competition, churn and expensive security valuations remain risks. Launch basket (equal weight): ADBE, CRM, NOW, NFLX, CRWD, PANW 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.