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The Network Fund
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The Network Fund

A fund that holds what a thousand ranked analysts on X hold, weighted by their records.

What you buy
instrument TBD
Fee
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Token price
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Holdings held directly
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  1. 01

    1,000 analysts post on X

    Ranked by how their implied portfolio beats a whole-market index, not by how much they post. A weak record counts for nothing, not against.

  2. 02

    Every post is read as it lands

    Analysts never submit a trade. A model reads each post and infers the position it implies, or sets the post aside.

  3. 03

    Each name is a weighted vote

    The vote carries the analyst’s rank, so a stronger record moves the position further. A buy vote adds to the position, a sell vote reduces it.

  4. 04

    Once a day the operators’ median applies

    Each operator computes the basket separately and the median is taken, so no one party can move the fund. It executes the next day unless governance vetoes it.

Their posts are read as they arrive. Each one either moves a position in the fund or it does not.

21,341read today9,477named a positionthe rest named no position
02Arriving nowA post counts only if it names a security and a direction
03Votes counted today4on 4 holdings · in the fund tomorrow
GOOGL×1+0.06% est.
MSFT×1+0.06% est.
LLY×1+0.05% est.
HD×1+0.04% est.
Estimated until counting closes
04The fund today · 26 weights, set by yesterday’s votes2% → 14% of the fundcounting closes in —
Overview

Every position traces back to who backed it and when.

How to buy

Fund details

As of today · recomputed daily
Instrument
A basket of shares, on Reserve
Signal source
1,000 ranked analysts on X
Weighting method
By analyst record
How often it changes
Every day, taking effect the next
When a position expires
Fades after 14 days unmentioned, gone at 42
Compared against
The market as a whole
Fee
0.5% a year
Availability
145 countries, excluding the US

Holdings

26 companies · 100.0% of the fund
Holdings, largest first, first half
NVDANvidia13.7%
AVGOBroadcom7.7%
TSMTSMC6.3%
ASMLASML5.4%
AMDAMD5.1%
MSFTMicrosoft4.5%
MUMicron4.2%
AMZNAmazon3.7%
CRMSalesforce3.4%
ORCLOracle3.4%
PLTRPalantir3.4%
NOWServiceNow3.2%
NFLXNetflix3.0%
Holdings, second half
AAPLApple2.9%
METAMeta2.8%
UNHUnitedHealth2.7%
GOOGLAlphabet2.7%
HDHome Depot2.6%
TSLATesla2.5%
JPMJPMorgan2.5%
COSTCostco2.5%
XOMExxon Mobil2.5%
PGProcter & Gamble2.4%
CATCaterpillar2.4%
VVisa2.4%
LLYEli Lilly2.1%
Why now

The research already existed. Reading it did not scale.

Thousands of people publish real research in public and for free, where the same work was once charged for or kept inside a fund.

What changed

A model can read a day in a day

Classifying the volume that a thousand accounts produce is now the cost of running a prompt, not of hiring a team.

Shares can now be bought this way

Ordinary company shares can now be bought and sold this way. Until recently a basket like this could only hold crypto.

The record was always public. Now it can run a fund.

The analysts

Ranked on one thing: their record against the market

Records

A few of them hold records that beat professional funds. An analyst who does better than the market as a whole carries weight in the fund. One who does worse carries none. Not a vote against a stock, just no vote.

The hundred best-ranked

Sample day · the live ranking publishes at launch
#1
@ticketcoffeeSupply chain analyst
Calls read
77
Calls that beat
65.2%
#2
@paletradeFormer sell-side analyst
Calls read
187
Calls that beat
64.8%
#3
@floatcallHealthcare analyst
Calls read
211
Calls that beat
64.6%
#4
@askhourSupply chain analyst
Calls read
155
Calls that beat
64.4%
#5
@orderbookSystematic trader
Calls read
287
Calls that beat
64.2%
#6
@slowreadSemis specialist
Calls read
257
Calls that beat
64.0%
#7
@yieldsheetConsumer analyst
Calls read
288
Calls that beat
63.8%
#8
@midprintBuy-side generalist
Calls read
240
Calls that beat
63.7%
#9
@midmuseIndustrials analyst
Calls read
110
Calls that beat
63.5%
#10
@floatnoteFormer sell-side analyst
Calls read
49
Calls that beat
63.4%
#11
@closedataHealthcare analyst
Calls read
227
Calls that beat
63.3%
#12
@ledgermathHealthcare analyst
Calls read
42
Calls that beat
63.2%
#13
@steadyfrogFormer equity strategist
Calls read
298
Calls that beat
63.0%
#14
@barrelhandFormer sell-side analyst
Calls read
267
Calls that beat
62.9%
#15
@churnwatchIndependent researcher
Calls read
281
Calls that beat
62.8%
#16
@pipelineblockCredit analyst
Calls read
258
Calls that beat
62.7%
#17
@refineryviewFormer equity strategist
Calls read
187
Calls that beat
62.6%
#18
@marginbetaBuy-side generalist
Calls read
178
Calls that beat
62.5%
#19
@streammuseFormer equity strategist
Calls read
317
Calls that beat
62.4%
#20
@southnotePortfolio manager
Calls read
175
Calls that beat
62.3%
#21
@coastcoffeeOptions trader
Calls read
114
Calls that beat
62.2%
#22
@southcoffeeOptions trader
Calls read
61
Calls that beat
62.1%
#23
@shortvanillaIndustrials analyst
Calls read
156
Calls that beat
62.1%
#24
@northbetaWrites on capital cycles
Calls read
195
Calls that beat
62.0%
#25
@paleglutFounder, private research letter
Calls read
62
Calls that beat
61.9%
#26
@plainsignalOptions trader
Calls read
62
Calls that beat
61.8%
#27
@ledgerowlFormer sell-side analyst
Calls read
177
Calls that beat
61.7%
#28
@quietrangeSystematic trader
Calls read
261
Calls that beat
61.6%
#29
@quietwatchOptions trader
Calls read
195
Calls that beat
61.6%
#30
@cohorttakeFounder, private research letter
Calls read
58
Calls that beat
61.5%
#31
@southyardFormer sell-side analyst
Calls read
67
Calls that beat
61.4%
#32
@tickfrogBuy-side generalist
Calls read
325
Calls that beat
61.3%
#33
@slowhourFormer equity strategist
Calls read
155
Calls that beat
61.3%
#34
@southpostConsumer analyst
Calls read
49
Calls that beat
61.2%
#35
@aislesheetConsumer analyst
Calls read
264
Calls that beat
61.1%
#36
@gridvanillaOptions trader
Calls read
327
Calls that beat
61.1%
#37
@benchchangeOptions trader
Calls read
201
Calls that beat
61.0%
#38
@waferdeskFormer fund manager
Calls read
21
Calls that beat
60.9%
#39
@rateglutMacro strategist
Calls read
64
Calls that beat
60.9%
#40
@slowfrogMacro strategist
Calls read
212
Calls that beat
60.8%
#41
@flatviewPortfolio manager
Calls read
38
Calls that beat
60.7%
#42
@wettradeSupply chain analyst
Calls read
135
Calls that beat
60.7%
#43
@fabviewFounder, private research letter
Calls read
132
Calls that beat
60.6%
#44
@carryreadQuant, publishes in public
Calls read
170
Calls that beat
60.5%
#45
@foundrydeskPortfolio manager
Calls read
121
Calls that beat
60.5%
#46
@tickwirePortfolio manager
Calls read
71
Calls that beat
60.4%
#47
@midreadBuy-side generalist
Calls read
21
Calls that beat
60.4%
#48
@coastvanillaOptions trader
Calls read
97
Calls that beat
60.3%
#49
@openwireFounder, private research letter
Calls read
259
Calls that beat
60.2%
#50
@southedgeFormer sell-side analyst
Calls read
280
Calls that beat
60.2%
#51
@tapebetaSystematic trader
Calls read
157
Calls that beat
60.1%
#52
@aisleowlOptions trader
Calls read
320
Calls that beat
60.1%
#53
@drycallOptions trader
Calls read
259
Calls that beat
60.0%
#54
@bidpostIndependent researcher
Calls read
138
Calls that beat
60.0%
#55
@shopbetaBuy-side generalist
Calls read
141
Calls that beat
59.9%
#56
@flatcasePortfolio manager
Calls read
190
Calls that beat
59.8%
#57
@fabchartIndependent researcher
Calls read
188
Calls that beat
59.8%
#58
@deltapostFounder, private research letter
Calls read
80
Calls that beat
59.7%
#59
@tickchangeFormer fund manager
Calls read
255
Calls that beat
59.7%
#60
@marginsignalSemis specialist
Calls read
293
Calls that beat
59.6%
#61
@slowbetsOptions trader
Calls read
79
Calls that beat
59.6%
#62
@cyclesheetMacro strategist
Calls read
182
Calls that beat
59.5%
#63
@fastyardOptions trader
Calls read
323
Calls that beat
59.5%
#64
@foundryhourSupply chain analyst
Calls read
155
Calls that beat
59.4%
#65
@wetvanillaFormer equity strategist
Calls read
214
Calls that beat
59.4%
#66
@deepfloorHealthcare analyst
Calls read
244
Calls that beat
59.3%
#67
@foundryreadFormer equity strategist
Calls read
300
Calls that beat
59.3%
#68
@ledgerviewIndustrials analyst
Calls read
241
Calls that beat
59.2%
#69
@yieldbetaCredit analyst
Calls read
268
Calls that beat
59.2%
#70
@narrowedgeCredit analyst
Calls read
230
Calls that beat
59.1%
#71
@floatbetaQuant, publishes in public
Calls read
255
Calls that beat
59.1%
#72
@deltachangeFormer sell-side analyst
Calls read
184
Calls that beat
59.0%
#73
@cableblockConsumer analyst
Calls read
335
Calls that beat
59.0%
#74
@aisleyardSemis specialist
Calls read
331
Calls that beat
58.9%
#75
@smallbandMacro strategist
Calls read
247
Calls that beat
58.9%
#76
@drychartFounder, private research letter
Calls read
47
Calls that beat
58.8%
#77
@yielddailyMacro strategist
Calls read
316
Calls that beat
58.8%
#78
@quietwireQuant, publishes in public
Calls read
170
Calls that beat
58.7%
#79
@benchglutFounder, private research letter
Calls read
303
Calls that beat
58.7%
#80
@dryglutWrites on capital cycles
Calls read
104
Calls that beat
58.6%
#81
@openrunFormer sell-side analyst
Calls read
239
Calls that beat
58.6%
#82
@spreadwatchFormer sell-side analyst
Calls read
330
Calls that beat
58.6%
#83
@steadycaseConsumer analyst
Calls read
90
Calls that beat
58.5%
#84
@basispageIndependent researcher
Calls read
128
Calls that beat
58.5%
#85
@tapeowlMacro strategist
Calls read
194
Calls that beat
58.4%
#86
@refinerycounterSupply chain analyst
Calls read
205
Calls that beat
58.4%
#87
@midhourMacro strategist
Calls read
67
Calls that beat
58.3%
#88
@foundrycurveHealthcare analyst
Calls read
61
Calls that beat
58.3%
#89
@vegaprintQuant, publishes in public
Calls read
337
Calls that beat
58.2%
#90
@basiswatchConsumer analyst
Calls read
300
Calls that beat
58.2%
#91
@askmuseHealthcare analyst
Calls read
107
Calls that beat
58.2%
#92
@slowhandSystematic trader
Calls read
207
Calls that beat
58.1%
#93
@quiethandWrites on capital cycles
Calls read
289
Calls that beat
58.1%
#94
@spreadtakePortfolio manager
Calls read
212
Calls that beat
58.0%
#95
@plaintakeWrites on capital cycles
Calls read
66
Calls that beat
58.0%
#96
@handfloorConsumer analyst
Calls read
247
Calls that beat
57.9%
#97
@narrowglutConsumer analyst
Calls read
113
Calls that beat
57.9%
#98
@deltaglutFormer equity strategist
Calls read
58
Calls that beat
57.9%
#99
@refinerypageFormer fund manager
Calls read
299
Calls that beat
57.8%
#100
@orderpageConsumer analyst
Calls read
293
Calls that beat
57.8%

How the ranking works

Positions are read from public posts, then compared with the market over the same period. That sets a rank from 1 to 1,000.

Who they are

Independent researchers, professional traders, and people publishing ideas they cannot act on at work.

How it works

Posts become positions. Once a day, the positions become one fund.

Follow one post

One post, end to end

Sample day · illustrative figures

01Post

02Read

03Positions

04Recalculation

A post arrives

Every post from the thousand analysts on the list is picked up as it is published.

A model reads it

Which company, buying or selling, serious or joking. Anything else is set aside.

That analyst's positions update

The positions read from their posts change. If they stop mentioning a company, its weight fades: full for 14 days, gone after 42.

Once a day it becomes one fund

Every analyst's positions are combined and weighted by record. The change takes effect tomorrow.

@unitecon14:31

Guidance was better than anyone expected. Adding to NVIDIA here, this is the cycle inflecting.

What the model found

About a company: YesCompany: NVIDIAReading: BuyingTone: Serious

5,365 posts today were not about a company · 2,340 were set aside as unclear

@unitecon, positions read from posts

Rank 3
NVDA
12%up from 11%
TSM
8%
AVGO
6%
PLTR
3%fading · 19 days quiet

Independent calculations

Today's weight for NVDA
Operator12.1%
Operator11.9%
Operator12.0%
Operator12.0%
Agreed12.0%the value used in the proposal below

Proposed changes, taking effect tomorrow

CompanyNowProposedChange
NVDAthis post11.8%12.0%+0.20 pp
TSM6.9%7.1%+0.20 pp
META5.4%5.2%−0.20 pp
PLTR3.6%3.4%−0.20 pp

Independent operators

Independent operators compute it separately, on different models, and only the result they agree on is used. If they do not agree, the fund does not move that day.

Reserve can stop a change

Reserve then has a short window to stop the change before it takes effect; every use of that power is published.

Rebalance

Proposed today. In effect tomorrow.

The basket is recalculated once a day. A post read this afternoon shows up in what the fund holds tomorrow, and only if nobody stops it.

  1. Today, 21:00 UTC

    The day closes

    Everything the analysts published up to this point is counted. The result is a proposal, not a trade.

  2. Then, a short window

    It can be stopped

    Reserve can block the change before it takes effect. Every use of that power is published.

  3. Tomorrow

    The fund holds it

    Nothing about the fund changed at the moment a post arrived. It changes once, here.

What expires tonight

26 holdings · 20 move
HoldingTodayTomorrowChange
TSM6.32%6.24%−0.08 pp
NOW3.20%3.12%−0.08 pp
MSFT4.47%4.53%+0.05 pp
V2.35%2.30%−0.05 pp
PG2.43%2.38%−0.05 pp
AAPL2.85%2.81%−0.04 pp
CRM3.39%3.43%+0.04 pp
ORCL3.35%3.39%+0.04 pp

These are today’s weights recalculated with tonight’s expiries taken out, so they move without a single new post. A position runs at full strength for fourteen days, fades over the next twenty-eight, and is gone at forty-two unless the analyst mentions the name again. Nobody sells it. It expires. Illustrative data; the fund is not trading yet.

Every window on record
Risks and considerations

What a buyer should weigh

Market risk
The fund holds equities and its value moves with them. Analyst conviction can be wrong, one analyst at a time or all of them at once.
No relative guarantee
Nothing in the method assures the fund keeps pace with the market, or with any index, over a given period.
Dependence on the signal
If the analysts stop posting, their positions fade and the fund holds progressively less. If the operators do not agree on a day's calculation, the holdings stand unchanged.
Custody and contract
The shares are held in software rather than at a broker. That carries risks a brokerage account does not: the software can have faults, and the keys can be lost.

Who builds it

Four parties. None of them can decide what the fund holds on its own.

More about Reserve

The analysts

A thousand of them. No tie to the fund

They post about companies in public, the way they already do. That is the only thing the fund reads.

The operators

Several, independent of each other

Each one reads the same posts and works out that day’s holdings on its own.

Reserve

Sets it up and publishes it

Sets the fund up, publishes the list of analysts, and can stop a day’s change before it happens.

You

The owner

Buy as much or as little as you like, and sell any day at what it is worth that day.

Can’t buy or sell anything in it. They have no deal with the fund and owe it nothing.

Can’t move the fund alone. If they do not get the same answer, nothing changes that day.

Can’t pick a company, decide how much an analyst counts, or buy and sell. It can stop a change, not make one.

Can’t tell the fund what to hold. You own a share of the shares it holds, not a promise from anyone.

How to buy

Bought directly, from a wallet you control.

  1. 1Wallet

    Connect your wallet

    Reserve's app connects to the wallet you already use. If you do not have one, it can create one for you with an email address.

  2. 2Dollars

    Put dollars in it

    Move dollars in from an exchange, or use a balance you already hold. They stay in your wallet until you buy.

  3. 3Hold

    Buy and hold

    Your holding appears in your wallet. The fund updates itself from there, with nothing for you to do.

One position. A thousand records behind it.

Not trading yet. 145 countries at launch, excluding the US

Buy the fundOpen the records
No minimum
Buy any amount
0.5% a year
On what you hold, not on what you make
Sell any time
At what it is worth that day