@raymon68 , thanks for posting this - a good reminder to take stock!

Think this started as a MF Pro holding for me back in 2017, sold out of it in 2020, bought back in again in Jan 2023, during which the price didn't do all that much. But its taken off and doubled since. Wish I bought more then ...

Have been a long time corporate buyer of the hardware and software products of a fair few companies on the Holdings list, so that list is familiar.

Key characteristics underpinning the holding:

• Product quality, reliability is paramount to ensure a robust cyber-security posture
• Software is extremely sticky - once deployed corporate-wide, it is very, very hard to undo/replace - you just suck it up with price increases, tell the Board to suck it up or risk cyber breaches - Boards are now more likely to be completely shit scared to do anything else but pay up
• Hardware platform is extremely sticky, even if there are alternatives and a few dollars can be saved - the risk of trying something new, need to build/find new skills on the new platform and the sheer technical pain of switching makes any discussion on changing a non-starter
• The need for cyber security is constant 24/7 and so, demand will not only not go away, it must be continously updated - it is the ultimate, high stakes cat-and-mouse game as any slacking off in innovation/improvement will be ruthlessly exploited by bad actors with a lot of reputational consequences for the cybersecurity companies.

This will be a core, steady-as-she grows, holding for me.

Discl: Held IRL