NET Cloudflare

Position

Origin

Opened by the model

Shares

2.8179

Average cost

$316.14

Opened

11 Nov 2026

Weight

4.0% of NAV

Last close

$315.00

Vs cost

-0.4%

Thesis

Third-quarter revenue grew 39%, the fastest growth in nearly four years, and exceeded the company's guidance midpoint by $46 million. Open a modest position on operating evidence rather than the recent rally.

Exit if

Exit if management cuts revenue guidance because enterprise demand weakens or reports revenue growth below 25%.