Own the House
Glen Allison@glen
+0.3%
since Oct 1
The idea
People keep spending on impulse, memes, and quick dopamine hits, and I'd rather own the toll booths than guess which fad wins. This basket leans into the house edge with sports betting and gaming, backs it with steady repeat-purchase names like tobacco and energy drinks, adds the platforms that profit whichever coin or stock gets chased, and rounds out with bargain retail and spectacle. I keep some cash on the side to add when any layer sells off, and this is a structural, multi-year view rather than a timed trade.
What it owns
- Gambling operators keep a mathematical edge on every wager placed, turning betting volume into predictable revenue. · DraftKingsIt operates as the house on sports bets, keeping a mathematical edge on every wager placed., Flutter EntertainmentIt operates FanDuel, the largest US sportsbook, collecting the house edge at scale across growing betting volume., Churchill DownsIt takes a cut of horse racing wagers and operates casino games where the house keeps a mathematical edge., Rush Street InteractiveIt operates online casino games where the house edge remains steady as gambling spreads across states.23%
- Energy drinks and nicotine pouches are daily repeat purchases that this audience buys consistently across trends. · Philip Morris InternationalIt owns Zyn, a nicotine pouch brand that has become a daily repeat purchase with stable cash generation., Monster BeverageIt makes an energy drink bought daily as a consistent habit independent of any trend or meme., Celsius HoldingsIt makes an energy drink growing faster than the category, riding the same daily consumption habit., Turning Point BrandsIt makes nicotine pouches and smokeless products gaining share in a repeat daily purchase category.20%
- Discount retailers, secondhand marketplaces, and pawn shops capture both the impulse buy and the impulse sale. · Ollie's Bargain OutletIt sells discount closeouts and treasure hunt shopping that drive impulse purchases in thousands of locations., FirstCash HoldingsIt lends money to consumers in need and buys and sells secondhand goods, profiting from both transaction types., Dollar GeneralIt rings up small impulse purchases daily in low-income neighborhoods, capturing steady spending that stays local., eBayIt collects fees on collectibles and resale transactions, profiting from treasure hunt shopping and flipping activity., EZCORPIt operates pawn shops taking a cut when consumers need cash or shop for secondhand deals.20%
- Trading platforms collect transaction fees on every asset the crowd trades, regardless of which ones gain or lose value. · Robinhood MarketsIt collects trading fees on every transaction regardless of which stocks or cryptocurrencies the crowd chases., Coinbase GlobalIt collects exchange fees on every cryptocurrency trade, profiting from activity rather than picking winners.18%
- Combat sports, wrestling, and live entertainment events draw the same audience willing to pay for shared experiences. · TKO Group HoldingsIt owns WWE and UFC, the combat sports and wrestling entertainment that this audience pays to watch live and online., Sphere EntertainmentIt operates an entertainment venue in Las Vegas selling immersive spectacle experiences to impulse buyers.10%
- Cash10%