Deepwater IPO Window Index



Index Performance




The Deepwater Public Private Index aims to track the performance of public tech companies with characteristics similar to pre-IPO private companies. The index benchmarks market optimism for new tech IPOs and late stage private valuations. The DPPI is constructed with companies that meet characteristics we believe reflect investor expectations for tech IPOs: - 20%+ forward year revenue growth - Forward year revenue over $200 million - $2 billion or greater market capitalization The DPPI is tier weighted — 50% of the index weight goes to the 1/3 of companies in the index with the largest market cap, 32% goes to the middle 1/3 of market cap, and 18% goes to the bottom 1/3 of market cap. The DPPI is reconstituted and rebalanced quarterly.

  • TickerDPPI
  • Inception Date08/27/2023
  • WeightingCustom
  • # of holdings36
What's inside?


All holdings as of September 29, 2023
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Mobileye Global, Inc. (MBLY)4.74%$3.912BN/A45.59%15.49x
Advanced Micro Devices, Inc. (AMD)4.36%$166.123B-18.18%36.61%8.32x
CrowdStrike Holdings, Inc. (CRWD)4.35%$37.837B36.71%74.93%13.93x
Atlassian Corp. (TEAM)4.27%$30.606B23.59%81.68%11.93x
NVIDIA Corp. (NVDA)4.26%$1,074.425B101.48%70.05%35.59x
Nu Holdings Ltd. (NU)4.24%$26.121B77.36%68.18%6.05x
ServiceNow, Inc. (NOW)4.15%$114.196B22.72%78.09%14.08x
Datadog, Inc. (DDOG)4.15%$27.242B25.44%79.97%16.02x
Snowflake, Inc. (SNOW)4.05%$50.368B35.55%65.93%22.40x
The Trade Desk, Inc. (TTD)4.03%$34.868B23.16%81.33%21.58x
Tesla, Inc. (TSLA)3.92%$794.197B47.20%18.19%9.51x
MercadoLibre, Inc. (MELI)3.91%$63.511B31.50%50.37%4.95x
Procore Technologies, Inc. (PCOR)2.81%$9.301B32.71%79.83%10.44x
Rivian Automotive, Inc. (RIVN)2.77%$22.831B207.97%-42.37%2.86x
Zscaler, Inc. (ZS)2.75%$22.898B43.06%77.42%13.97x
Bill Holdings, Inc. (BILL)2.73%$11.574B47.83%76.86%10.96x
monday.com Ltd. (MNDY)2.69%$7.601B42.00%88.89%11.74x
HubSpot, Inc. (HUBS)2.65%$24.633B25.46%83.50%13.23x
MongoDB, Inc. (MDB)2.63%$24.675B39.56%74.60%19.73x
DraftKings, Inc. (DKNG)2.61%$13.659B87.68%41.67%4.16x
Paycom Software, Inc. (PAYC)2.57%$15.677B26.57%72.93%11.64x
Toast, Inc. (TOST)2.57%$7.695B44.89%21.27%3.31x
Gitlab, Inc. (GTLB)2.55%$4.707B38.14%89.50%13.31x
Samsara, Inc. (IOT)2.47%$4.520B42.82%73.15%18.10x
Duolingo, Inc. (DUOL)1.61%$5.868B43.51%72.39%13.67x
Sprout Social, Inc. (SPT)1.56%$2.416B29.11%77.01%8.29x
Braze, Inc. (BRZE)1.55%$3.140B33.64%69.18%9.77x
SentinelOne, Inc. (S)1.55%$4.083B45.77%70.11%7.97x
ACV Auctions, Inc. (ACVA)1.51%$2.051B7.95%45.55%5.27x
CyberArk Software Ltd. (CYBR)1.49%$6.719B23.55%78.92%9.36x
Smartsheet, Inc. (SMAR)1.49%$5.467B26.19%80.03%6.28x
Shift4 Payments, Inc. (FOUR)1.46%$3.127B25.72%20.57%2.32x
JFrog Ltd. (FROG)1.45%$2.632B24.13%77.55%7.67x
HashiCorp, Inc. (HCP)1.41%$2.497B25.81%79.52%8.25x
Affirm Holdings, Inc. (AFRM)1.35%$5.098B22.43%84.02%5.50x
Schrödinger, Inc. (SDGR)1.32%$1.773B-8.53%39.25%17.10x
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