The market doesn’t make sense anymore (NASDAQ down over 31% YTD) and while I had 44 positions in the ADP Phoenix 44 to ride out the storm, the opportunity to get exclusively into Magnite (MGNI) and Nextdoor (KIND) at their current market caps is too compelling to ignore. Their TAMs are simply enormous. So the ADP Phoenix positions have contracted to two:
Magnite (MGNI) $868M
Nextdoor (KIND) $1.1B
“If opportunity doesn’t knock, build a door.” –Milton Berle
Love it.