Neo FinTech Collective

$NEOFINTECH We have introduced measured exposure to Asian digital brokerages by adding Futu Holdings (FUTU, +1.5%) and UP Fintech (TIGR, +1%). These positions broaden the portfolio’s geographic reach beyond U.S. and LatAm disruptors, capturing the secular rise of retail investing and digital trading platforms in Asia. To fund these additions, we trimmed our allocation to the iShares U.S. Regional Banks ETF (IAT). This adjustment reduces reliance on traditional banking and strengthens the portfolio’s thematic purity around next-generation financial technology. The result is a more globally balanced fintech mix: anchored in scaled leaders like Shopify, PayPal, Block, and Mercado Libre, complemented by disruptors in lending, payments, and brokerage across the U.S., LatAm, and now Asia. This intentional evolution positions $NEOFINTECH to better capture structural growth in digital finance while maintaining a diversified risk profile.

We have rebalanced $NEOFINTECH to better align with our long-term conviction in digital finance while positioning for the opportunities created by an easing rate environment. This adjustment reflects a shift from concentrated bets toward a more diversified core of scalable fintech platforms that can compound sustainably while still maintaining exposure to disruptive innovation. Key increases were made to Shopify (SHOP), now the portfolio’s anchor at 11%, underscoring our view that it sits at the intersection of e-commerce and payments infrastructure. We strengthened our position in SoFi (SOFI) at 5%, recognizing its accelerating growth in digital banking and lending, and affirmed our conviction in established payment leaders PayPal (PYPL) and Block (SQ), each at 4%, as essential pillars of the digital payments ecosystem. To fund these moves, we reduced our weighting in Robinhood (HOOD), where prior concentration had amplified single-stock volatility, and trimmed allocations in Toast (TOST) and other high-beta names. This allows us to retain exposure to disruptors while ensuring the portfolio is not overly dependent on a small set of speculative growth stocks. The result is a more intentional balance between scale and innovation: a foundation built on proven platforms with durable network effects, complemented by targeted exposure to emerging fintech challengers. This evolution strengthens $NEOFINTECH’s ability to capture upside from structural fintech adoption while mitigating concentration risk and aligning with the macro tailwinds of a lower-rate environment.