28 names are moving together; 50% are participating in the current session.
Observed member paths adjusted against SPY. Shading marks the latest observation window.
| TICKER | Company | Sector | Today | Observed activity |
|---|---|---|---|---|
| APPF | AppFolio, Inc. | Technology | +2.2% | 3/14 observed active sessions |
| BSY | Bentley Systems, Incorporated | Technology | +0.6% | 1/14 observed active sessions |
| SHOP | Shopify Inc. | Technology | -4.3% | Group member |
| OTEX | Open Text Corporation | Technology | -0.1% | Group member |
| GEN | Gen Digital Inc. | Technology | +0.6% | Group member |
| MTCH | Match Group, Inc. | Communication Services | +0.2% | Group member |
| ZETA | Zeta Global Holdings Corp. | Technology | +1.2% | Group member |
| NDAQ | Nasdaq, Inc. | Financial Services | -1.0% | Most structurally connected |
| FLUT | Flutter Entertainment plc | Consumer Cyclical | +2.2% | Group member |
| PSO | Pearson, Plc | Communication Services | -2.9% | Group member |
| GLBE | Global-E Online Ltd. | Consumer Cyclical | -1.3% | 1/14 observed active sessions |
| DKNG | DraftKings Inc. | Consumer Cyclical | -1.1% | Group member |
| RDDT | Reddit, Inc. | Communication Services | -21.1% | Group member |
| GRND | Grindr Inc. | Technology | +2.2% | Group member |
| PYPL | PayPal Holdings, Inc. | Financial Services | -0.8% | Group member |
| IBM | International Business Machines | Technology | +1.0% | Group member |
| CVLT | Commvault Systems, Inc. | Technology | +1.3% | 3/14 observed active sessions |
| FVRR | Fiverr International Ltd. | Communication Services | — | 3/14 observed active sessions |
| GENI | Genius Sports Limited | Communication Services | — | Group member |
| GTM | ZoomInfo Technologies Inc. | Technology | — | Group member |
| LSPD | Lightspeed Commerce Inc. Subord | Technology | — | Group member |
| MGNI | Magnite, Inc. | Communication Services | — | Group member |
| PAR | PAR Technology Corporation | Technology | — | Group member |
| PAYS | Paysign, Inc. | Technology | — | Group member |
Cohort
28 namesParticipation
50% this sessionObserved history
37 daily buildsFiling coverage
22/28 membersrestructuring affecting expense
“erger and strategic initiatives 53 23 129.8% Restructuring charges 27 103 (74.4)% Total operating expenses $ 2,155 $ 2,141 0.7% The increase in compensation and benefits expense for the three and nine months ended September 30, 2025 compared with the same periods in 2024 was primarily driven by increased headcount and higher incentive compensation.”
NDAQ 10-Q
credit / rates affecting interest expense
“Interest expense decreased for the three and nine months ended September 30, 2025 compared with the same periods in 2024 primarily due to lower average outstanding debt following the repayment of our 2025 Notes and the partial repurchases of several series of outstanding senior unsecured notes.”
NDAQ 10-Q
product pipeline / R&D affecting expense
“For the three months ended March 31, 2026, on a constant currency basis, research and development expenses increased primarily due to an increase in headcount‑related costs of $6,436, mainly due to increases in headcount, and annual and other compensation costs, and to a lesser extent, higher acquisition‑related retention incentives.”
BSY 10-Q
This identity theme becomes less useful if activity narrows to one or two names instead of remaining broad across the cohort.
GRNDsupplier · Not moving with the group now
Filing receipt · AMZN / GRND
“We rely on third parties to operate critical business systems to process sensitive data and other user data in a variety of contexts, including, without limitation, data…”
GRND · supplier
BSYsupplier · Not moving with the group now
Filing receipt · MSFT / BSY
“Our Production and Suppliers Our principal supplier of cloud services is Microsoft, with whom we have entered into a multi-year contract for a committed level of expendi…”
BSY · supplier
PYPLcustomer · Current intraday read unavailable
Filing receipt · SKLZ / PYPL
“This is done via the end-user’s pre-authorized credit card or PayPal account.”
PYPL · customer
SHOPpartner · Not moving with the group now
Filing receipt · KVYO / SHOP
“In July 2022, we completed a series of transactions to memorialize our strategic partnership with Shopify, which established Klaviyo as the recommended email solution fo…”
SHOP · partner
GRNDdistributor · Not moving with the group now
Filing receipt · AAPL / GRND
“Customers pay in advance, primarily through mobile app stores, including Apple and Google Play, and, subject to certain conditions identified in our terms and conditions…”
GRND · distributor