Index Performance
-3.67%
TENNTM
+4.05%
SKYY
+10.64%
QTEC
Overview
Description
Based on the research by Jamin Ball (@jaminball) on his Clouded Judgement Substack where he analyzed cloud software companies that at one point in time were trading at >10x NTM revenue. This is an Index that tracks the 22 companies that hit >10x NTM revenue at some point, 33% ended up with a CAGR >20% from the time they hit 10x to today.
- TickerTENNTM
- Inception Date11/18/2022
- WeightingEqual
- # of holdings21
What's inside?
Holdings
All holdings as of December 4, 2025
CSV download
| MongoDB, Inc. (MDB) | 6.23% | $32.29B | 18.69% | 70.88% | 11.67 |
| Qualys, Inc. (QLYS) | 5.60% | $5.37B | 10.17% | 83.69% | 6.80 |
| Datadog, Inc. (DDOG) | 5.60% | $53.65B | 28.35% | 80.04% | 15.16 |
| BlackLine, Inc. (BL) | 5.56% | $3.45B | 7.46% | 75.10% | 5.11 |
| Shopify, Inc. (SHOP) | 5.38% | $211.27B | 31.54% | 48.70% | 17.75 |
| CrowdStrike Holdings, Inc. (CRWD) | 5.18% | $129.36B | 22.18% | 74.96% | 29.03 |
| Bill Holdings, Inc. (BILL) | 5.11% | $5.28B | 10.40% | 77.36% | 3.26 |
| Autodesk, Inc. (ADSK) | 4.81% | $64.84B | 18.32% | 84.03% | 9.50 |
| Atlassian Corp. (TEAM) | 4.70% | $41.34B | 20.61% | 83.96% | 7.41 |
| Okta, Inc. (OKTA) | 4.67% | $15.22B | 11.58% | 77.09% | 5.03 |
| Dynatrace, Inc. (DT) | 4.65% | $13.36B | 18.11% | 81.82% | 7.30 |
| Cloudflare, Inc. (NET) | 4.59% | $71.51B | 30.68% | 73.97% | 36.96 |
| Adobe, Inc. (ADBE) | 4.56% | $137.61B | 10.72% | 88.63% | 6.56 |
| Paylocity Holding Corp. (PCTY) | 4.52% | $7.96B | 12.46% | 67.38% | 5.41 |
| ServiceNow, Inc. (NOW) | 4.43% | $174.05B | 21.81% | 77.28% | 14.98 |
| Veeva Systems, Inc. (VEEV) | 4.43% | $39.83B | 16.02% | 75.09% | 13.85 |
| AppFolio, Inc. (APPF) | 4.25% | $8.47B | 21.20% | 61.13% | 10.85 |
| Zscaler, Inc. (ZS) | 4.17% | $38.57B | 25.50% | 76.25% | 18.01 |
| Five9, Inc. (FIVN) | 3.97% | $1.62B | 8.20% | 54.19% | 1.98 |
| Paycom Software, Inc. (PAYC) | 3.89% | $9.35B | 9.15% | 74.15% | 5.72 |
| HubSpot, Inc. (HUBS) | 3.69% | $19.75B | 20.85% | 83.50% | 7.84 |
Market data by FactSet