C+
Functional Indices

Proprietary Research Indices

Custom-built benchmarks tracking structural investment themes. Weighted by research conviction, not market cap — designed to measure what the market doesn't yet index.

Why Functional Indices?

Standard indices track what already happened. Functional indices track what's happening — mapping capital flows, supply chain constraints, and sovereign capabilities as they evolve. Each index is built from the ground up using Closelooknet's research framework, with constituents selected by structural thesis rather than committee consensus.

Every index includes a full methodology paper, constituent rationale, and regular rebalancing based on fundamental shifts rather than calendar dates.

Live

Rubin Build-Out 100 Functional Index

2,101.64 -4.99% W/W YTD +104.47% · 2026-07-13

Tracks the physical infrastructure buildout powering NVIDIA's Rubin and Feynman platforms. 125 constituents across 8 layers and 24 sectors spanning the full constraint chain: EDA, chip design, foundry, lithography, packaging, memory & storage, testing, substrates, power semiconductors, grid infrastructure, thermal, interconnects, advanced materials, photomasks, fab subsystems, specialty chemicals, AI-factory systems, data-centre power & construction, robotics, and machine vision & edge.

ThesisSupply-side bottlenecks
WeightingEW · Cap · Momentum
Constituents125 companies · 8 layers · 24 sectors
Base1,000 · Oct 3, 2022 · USD
Layers
Design & IP Fabrication & Lithography Packaging & Memory Test & Substrates Power & Thermal Materials & Infrastructure
Live

Euro-AI Sovereign 50 Index

1,278.24 -0.66% W/W YTD +27.82% · 2026-07-14

Measures Europe's irreplaceable position in the global AI supply chain. 4-tier structure: Core 20, 30 Enablers, Legacy Transformers, and Watchlist/Next Heroes across 13 countries. 4 broad indices (RI-weighted, Capped Market Cap, Equal Weight, Tier 1 Core 20) plus 14 sector sub-indices (7 sectors × RI + EW).

ThesisEurope builds the atoms
WeightingRI · Capped MC · Equal · Tier 1
Indices4 broad + 14 sector sub-indices
Constituents65 companies · 13 countries · 7 sectors
TiersCore 20 · 30 Enablers · Legacy · Watchlist
Base1,000 · Oct 1, 2024 · EUR
Sectors
Semi Equipment & Materials Power, Grid & Cooling Enterprise AI & Data Industrial AI & Robotics Defense & Aerospace MedTech & Bio-AI Chip Architecture & Cloud
Live

HALO Growth 100 Functional Index

1,036.30 -3.95% W/W YTD +1.99% · 2026-07-13

Tracks 100 AI-neutral growth compounders — companies with 10%+ revenue growth whose earnings are neither dependent on nor threatened by AI. The other side of the barbell: predictable growth in sectors that AI cannot disrupt.

ThesisAI-neutral predictable growth
WeightingEW · Cap · Momentum
Constituents100 companies · 12 sectors · 24 subsectors
Base1,000 · Jan 2, 2025 · USD
Sectors
Defense & Drones Longevity Destination Economy Grid & Industrial Med Devices Nuclear Circular Economy Logistics Space Payments Clean Energy Better Food
Live

AW40 Agentic Winners 40

790.98 +1.42% W/W YTD -19.18% · 2026-07-13

Who captures the value from the agentic-AI disruption of knowledge work — 40 names across 4 tiers, from megacap gateways to endpoints. Composite index, per-constituent scoring, and tier / segment / region sub-indices update daily at 23:00 UTC, in equal-weight, cap-weight, and momentum-drift.

ThesisWho captures AI value across the stack
WeightingEW · CW · MW · 4 tiers
Constituents40 companies · 4 tiers
Base1,000 · Mar 31, 2026 · USD
Tiers
Megacap Gateway Control Plane Application Leaders Endpoints
Live

The T1 Index — Trillion Dollar Club

Every stock that has ever closed above a $1 trillion market cap, equal-weighted. One rule, permanent membership: a company joins the day it first crosses $1T and never leaves. 13 founding members at the 2025-12-30 base; 2026 crossers (Micron, Samsung, SK Hynix) enter on their crossing date — never backdated, so the index tracks what the club itself earned.

RuleEver closed ≥ $1T
WeightingEqual weight · daily rebalance
Members16 · 13 founding + 3 added 2026
Base100 · Dec 30, 2025 · USD
The Club
Nvidia Apple Microsoft Alphabet Amazon Broadcom TSMC Saudi Aramco Samsung SK Hynix Micron +5 more
Work in Progress

ABR — Agent Beneficiary Ratio

Three strategic archetypes classifying how autonomous AI agents structurally impact Nasdaq 100 companies. Natural Position, Cannibalize or Die, Terminal. First public draft — scores are preliminary and we invite reader feedback to refine classifications.

ScoringL : A [M↑ / M↓] {C}
Dimensions5 (Legacy, Agent, Mispricing↑↓, Confidence)
Initial UniverseNasdaq 100
ArchitectureArchetype-first — structural classification free, full scorecard premium
Strategic Archetypes
Natural Position (31) Cannibalize or Die (19) Terminal (8) Agent-Neutral (43)
Premium Components
Escape Matrix Fork Points Execution Scores Net ABR Curves Pair Trades
Live

Agentic Ecosystem Index

1,443.51 -0.99% W/W YTD +46.27% · 2026-07-13

The AI operating system — the companies that operate, secure and monetize running AI. 33 priced names across 9 lifecycle tiers (T0–T8) and 3 ecosystem layers, equal-, cap- and momentum-weighted, anchored 30 Dec 2025 = 1,000. The OPEX layer of the AI build-out, with forward slots for OpenAI and Anthropic on IPO.

ThesisAI operating system — operate the factory
Structure33 priced · 9 tiers · 3 layers · EW/CW/MW
DifferentiatorViability timeline overlay (Phase 1/2/3)
Key InsightToll Booth Infrastructure — wins on rising transaction volume
3 Ecosystem Layers · 9 Tiers
Substrate — Models · Compute · Edge Execution — Runtime · Data · Coordination Govern & Secure — Ops · Identity · Security
The Barbell
Rubin → what enables inference Agentic → operating the AI factory HALO → what AI can't touch

Index Updates & Portfolio Integration

Functional indices drive position selection in the AI Build-Out and Hypergrowth model portfolios. Full methodology and constituent changes published to C+ subscribers.