Insights · Capital release atlas

Where the largest repricing arguments live

The atlas plots moat against decentralizability, sizes each bubble by current market cap, and highlights where the current published sample appears most exposed to open, local, and protocol-native substitution.

Current cap in sample

$45T

Published companies with enough metric coverage to map cleanly.

Capital at risk

$2,808,964.1T

Directional freed-capital estimate across the current published sample.

Average at-risk share

6.7%

Mean challenged share of current market cap across the plotted companies.

Largest exposure

FedEx

$2,808,960T challenged

Quadrant map

Moat on the vertical, decentralizability on the horizontal

Upper-right is the danger zone for a consensus that still assumes the moat is immortal. Bubble size tracks current market cap rather than thesis intensity.

On phones, the key reading is the ranked exposure list below. The desktop quadrant chart returns on larger screens where the bubble map can breathe.

FedEx

FedEx provides parcel delivery, express transportation, freight, and logistics services through integrated air, ground, and freight networks.

At risk

$2,808,960T

Moat8.0/10
Decentralizability4.0/10

Current cap

$94.1B

Share challenged

100.0%

Microsoft

Enterprise software and cloud infrastructure giant spanning productivity, developer platforms, and operating systems.

At risk

$523.2B

Moat9.1/10
Decentralizability6.4/10

Current cap

$3.3T

Share challenged

15.9%

Meta Platforms

Ad-supported social and messaging empire anchored by Facebook, Instagram, and WhatsApp.

At risk

$446B

Moat7.9/10
Decentralizability7.4/10

Current cap

$1.8T

Share challenged

24.8%

Alphabet

Search, ads, video, mobile, and cloud giant still centered economically on attention capture.

At risk

$444.3B

Moat8.7/10
Decentralizability6.8/10

Current cap

$2.4T

Share challenged

18.5%

Amazon

Retail, logistics, advertising, and cloud juggernaut with scale in both atoms and bits.

At risk

$301.3B

Moat8.9/10
Decentralizability5.7/10

Current cap

$2.2T

Share challenged

13.7%

Apple

A vertically integrated device and services empire built around the iPhone.

At risk

$234.3B

Moat9.3/10
Decentralizability2.8/10

Current cap

$3.7T

Share challenged

6.3%

NVIDIA

GPU kingmaker for AI training, inference, gaming, and high-performance compute.

At risk

$222.5B

Moat9.6/10
Decentralizability2.5/10

Current cap

$4.3T

Share challenged

5.2%

Tesla

EV, charging, energy storage, and autonomy company that sells both products and future narratives.

At risk

$190B

Moat7.4/10
Decentralizability5.9/10

Current cap

$1T

Share challenged

19.0%

Broadcom

Semiconductor and infrastructure software consolidator with critical exposure to networking and virtualization.

At risk

$117.8B

Moat8.6/10
Decentralizability3.8/10

Current cap

$1.1T

Share challenged

10.7%

Walmart

Scale retail and grocery giant whose moat lives in sourcing, logistics, and physical footprint.

At risk

$97B

Moat8.2/10
Decentralizability4.4/10

Current cap

$800B

Share challenged

12.1%

JPMorgan Chase

Diversified financial-services company spanning consumer banking, payments, markets, and asset management.

At risk

$67.1B

Moat9.0/10
Decentralizability4.0/10

Current cap

$670.6B

Share challenged

10.0%

Cisco Systems

Networking and security company selling enterprise networking, collaboration, observability, and infrastructure software.

At risk

$48.9B

Moat8.0/10
Decentralizability5.0/10

Current cap

$308.6B

Share challenged

15.8%

Visa

Global payments-network operator connecting issuers, acquirers, merchants, consumers, businesses, and governments through VisaNet and related value-added services.

At risk

$46.9B

Moat9.0/10
Decentralizability3.0/10

Current cap

$595.7B

Share challenged

7.9%

Netflix

Global subscription video service combining streaming, original programming, recommendations, live programming, games, and a lower-priced ad-supported plan.

At risk

$46.5B

Moat8.7/10
Decentralizability4.2/10

Current cap

$402.5B

Share challenged

11.6%

Berkshire Hathaway

Conglomerate spanning insurance, rail, utilities, manufacturing, and a massive equity portfolio.

At risk

$43.5B

Moat8.8/10
Decentralizability1.9/10

Current cap

$900B

Share challenged

4.8%

IBM

IBM provides hybrid cloud, artificial intelligence, consulting, infrastructure, and enterprise software products and services.

At risk

$42.9B

Moat8.0/10
Decentralizability6.0/10

Current cap

$238.6B

Share challenged

18.0%

Intel

Intel designs and manufactures processors, chipsets, accelerators, networking silicon, software, and foundry services for client, data center, edge, and embedded computing markets.

At risk

$42.2B

Moat8.0/10
Decentralizability3.0/10

Current cap

$602.3B

Share challenged

7.0%

Costco

Membership warehouse retailer combining limited-SKU bulk merchandising, private-label products, and high-volume operational discipline.

At risk

$41.8B

Moat9.0/10
Decentralizability4.0/10

Current cap

$440.2B

Share challenged

9.5%

Johnson & Johnson

Diversified health-care company focused on Innovative Medicine and MedTech after the Kenvue consumer-health separation.

At risk

$41.7B

Moat9.0/10
Decentralizability3.0/10

Current cap

$585.6B

Share challenged

7.1%

Eli Lilly

Pharmaceutical company centered on diabetes, obesity, oncology, immunology, and neuroscience therapies.

At risk

$40.4B

Moat9.0/10
Decentralizability2.0/10

Current cap

$808.2B

Share challenged

5.0%

Texas Instruments

Texas Instruments designs and manufactures analog and embedded processing semiconductors for industrial, automotive, personal electronics, and communications markets.

At risk

$34.9B

Moat8.0/10
Decentralizability4.0/10

Current cap

$275.5B

Share challenged

12.7%

Chevron

Integrated energy company spanning crude oil and natural gas production, LNG, refining, chemicals, and global fuel brands.

At risk

$34.5B

Moat8.0/10
Decentralizability3.0/10

Current cap

$383.5B

Share challenged

9.0%

Procter & Gamble

Consumer packaged-goods company spanning fabric care, baby care, grooming, oral care, and household brands.

At risk

$34B

Moat9.0/10
Decentralizability4.0/10

Current cap

$358.3B

Share challenged

9.5%

GE Vernova

GE Vernova is an energy equipment and services company focused on power generation, grid technology, wind energy, and electrification infrastructure.

At risk

$33.7B

Moat8.0/10
Decentralizability4.0/10

Current cap

$281B

Share challenged

12.0%

Oracle

Enterprise software and cloud infrastructure incumbent centered on databases, back-office applications, and large-account infrastructure contracts.

At risk

$33.4B

Moat9.0/10
Decentralizability3.0/10

Current cap

$468.8B

Share challenged

7.1%

Morgan Stanley

Morgan Stanley is a global financial services firm focused on institutional securities, wealth management, and investment management.

At risk

$31.7B

Moat9.0/10
Decentralizability4.0/10

Current cap

$317.1B

Share challenged

10.0%

Arista Networks

Arista Networks provides cloud networking switches, routers, network operating software, and management software for AI, data center, campus, and routing environments.

At risk

$31.2B

Moat8.0/10
Decentralizability5.0/10

Current cap

$187.1B

Share challenged

16.7%

PepsiCo

PepsiCo is a global food and beverage company built around soft drinks, sports drinks, snacks, cereals, and packaged food brands.

At risk

$30.5B

Moat8.0/10
Decentralizability5.0/10

Current cap

$203.5B

Share challenged

15.0%

Advanced Micro Devices

Semiconductor company designing CPUs, GPUs, accelerators, adaptive SoCs, and related computing platforms for data center, client, gaming, and embedded markets.

At risk

$30.1B

Moat8.0/10
Decentralizability3.0/10

Current cap

$334B

Share challenged

9.0%

Palantir Technologies

Data integration, analytics, and AI software company serving governments and large enterprises.

At risk

$27.8B

Moat9.0/10
Decentralizability3.0/10

Current cap

$370.2B

Share challenged

7.5%

Goldman Sachs

Goldman Sachs is a global financial services firm focused on investment banking, markets, asset management, and wealth management.

At risk

$27.7B

Moat8.0/10
Decentralizability3.0/10

Current cap

$291.5B

Share challenged

9.5%

Merck & Co.

Research-intensive pharmaceutical company focused on oncology, vaccines, animal health, and specialty medicines.

At risk

$27.3B

Moat8.0/10
Decentralizability3.0/10

Current cap

$287.3B

Share challenged

9.5%

Seagate Technology

Seagate Technology designs and sells hard disk drives, solid-state drives, and data storage systems for cloud, enterprise, edge, and consumer storage workloads.

At risk

$27.3B

Moat7.0/10
Decentralizability4.0/10

Current cap

$181.7B

Share challenged

15.0%

AbbVie

AbbVie is a U.S. biopharmaceutical company whose growth engine now centers on immunology, oncology, neuroscience, aesthetics, and specialty therapies.

At risk

$25.5B

Moat8.0/10
Decentralizability2.0/10

Current cap

$402.6B

Share challenged

6.3%

Palo Alto Networks

Palo Alto Networks provides cybersecurity platforms spanning network security, cloud security, and security operations.

At risk

$25B

Moat8.0/10
Decentralizability5.0/10

Current cap

$167B

Share challenged

15.0%

Booking Holdings

Booking Holdings operates online travel and restaurant reservation platforms including Booking.com, Priceline, Agoda, KAYAK, and OpenTable.

At risk

$24.7B

Moat8.0/10
Decentralizability6.0/10

Current cap

$123.7B

Share challenged

20.0%

Verizon Communications

Verizon Communications provides wireless, fixed wireless, fiber broadband, video, voice, and enterprise communications services in the United States.

At risk

$24.2B

Moat8.0/10
Decentralizability4.0/10

Current cap

$201.9B

Share challenged

12.0%

Eaton

Eaton provides electrical, aerospace, vehicle, and industrial power management products for buildings, data centers, utilities, mobility, and industrial customers.

At risk

$24.1B

Moat8.0/10
Decentralizability5.0/10

Current cap

$152B

Share challenged

15.8%

Linde

Linde is an industrial gases and engineering company serving health care, manufacturing, chemicals, energy, electronics, food and beverage, metals, and mining customers.

At risk

$22.7B

Moat8.0/10
Decentralizability3.0/10

Current cap

$239.3B

Share challenged

9.5%

UnitedHealth Group

UnitedHealth Group is a U.S. health care and well-being company operating health benefits through UnitedHealthcare and care, pharmacy, technology, and data services through Optum.

At risk

$22.5B

Moat9.0/10
Decentralizability3.0/10

Current cap

$352.8B

Share challenged

6.4%

TJX Companies

TJX Companies is a global off-price apparel and home fashions retailer operating banners including T.J. Maxx, Marshalls, HomeGoods, Winners, HomeSense, Sierra, and T.K. Maxx.

At risk

$22.2B

Moat8.0/10
Decentralizability4.0/10

Current cap

$175B

Share challenged

12.7%

American Express

American Express operates a global payments network and issues charge, credit, and corporate payment products.

At risk

$21.3B

Moat9.0/10
Decentralizability4.0/10

Current cap

$212.7B

Share challenged

10.0%

Salesforce

Enterprise CRM and sales automation platform company centered on Sales Cloud, Data Cloud, and Agentforce.

At risk

$21B

Moat8.6/10
Decentralizability5.4/10

Current cap

$147.3B

Share challenged

14.2%

Lowe's Companies

Lowe's Companies operates a large U.S. home improvement retail network, e-commerce channels, and professional customer programs for repair, remodel, maintenance, and construction demand.

At risk

$19.1B

Moat8.0/10
Decentralizability5.0/10

Current cap

$120.6B

Share challenged

15.8%

Walt Disney

The Walt Disney Company operates entertainment, sports, theme parks, streaming, film, television, and consumer products businesses.

At risk

$17.9B

Moat9.0/10
Decentralizability4.0/10

Current cap

$188.7B

Share challenged

9.5%

Lam Research

Lam Research supplies wafer fabrication equipment and services used in semiconductor manufacturing.

At risk

$17.8B

Moat9.0/10
Decentralizability2.0/10

Current cap

$374B

Share challenged

4.8%

Honeywell International

Honeywell International supplies aerospace technologies, industrial automation, building automation, and energy and sustainability solutions.

At risk

$17B

Moat8.0/10
Decentralizability4.0/10

Current cap

$141.8B

Share challenged

12.0%

CrowdStrike

CrowdStrike provides cloud-delivered cybersecurity software for endpoint, identity, cloud, SIEM, threat intelligence, and AI-assisted security operations.

At risk

$16.6B

Moat8.0/10
Decentralizability4.0/10

Current cap

$166.2B

Share challenged

10.0%

Chubb

Chubb is a global property and casualty insurer that also provides accident and health insurance, life insurance, personal risk services, and reinsurance.

At risk

$16.1B

Moat8.0/10
Decentralizability4.0/10

Current cap

$127B

Share challenged

12.7%

Marriott International

Marriott International franchises, manages, and licenses hotels, resorts, branded residences, timeshare offerings, and related lodging brands worldwide.

At risk

$15.4B

Moat8.0/10
Decentralizability5.0/10

Current cap

$97.3B

Share challenged

15.8%

GE Aerospace

A U.S. aerospace manufacturer focused on commercial and defense aircraft engines, propulsion systems, and high-value aftermarket services.

At risk

$14.6B

Moat9.0/10
Decentralizability2.0/10

Current cap

$306.6B

Share challenged

4.8%

Automatic Data Processing

Automatic Data Processing provides cloud-based payroll, human capital management, benefits, compliance, and HR outsourcing software and services.

At risk

$14.3B

Moat8.0/10
Decentralizability5.0/10

Current cap

$90.1B

Share challenged

15.8%

Abbott Laboratories

Abbott Laboratories makes medical devices, diagnostics, nutrition products, and branded generic medicines.

At risk

$13.7B

Moat8.0/10
Decentralizability3.0/10

Current cap

$152.3B

Share challenged

9.0%

Welltower

Welltower is a health care REIT that owns and invests in senior housing, triple-net health care assets, and outpatient medical properties.

At risk

$13B

Moat8.0/10
Decentralizability3.0/10

Current cap

$152.6B

Share challenged

8.5%

Southern Company

Southern Company is a regulated U.S. electric and natural gas utility holding company serving customers through operating utilities, wholesale generation, distributed energy, and related infrastructure businesses.

At risk

$12.8B

Moat8.0/10
Decentralizability4.0/10

Current cap

$106.6B

Share challenged

12.0%

O'Reilly Automotive

O'Reilly Automotive sells automotive aftermarket parts, tools, supplies, equipment, and accessories to do-it-yourself customers and professional service providers through stores and online channels.

At risk

$12.7B

Moat8.0/10
Decentralizability5.0/10

Current cap

$76B

Share challenged

16.7%

RTX

RTX is a large U.S. aerospace and defense company spanning Pratt & Whitney aircraft engines, Collins Aerospace systems, and Raytheon defense platforms.

At risk

$12.5B

Moat9.0/10
Decentralizability2.0/10

Current cap

$278.2B

Share challenged

4.5%

Quanta Services

Quanta Services provides specialty infrastructure contracting services for electric power, renewable energy, communications, pipeline, and industrial markets.

At risk

$12.5B

Moat8.0/10
Decentralizability4.0/10

Current cap

$110B

Share challenged

11.3%

Cloudflare

Internet infrastructure and security platform company spanning CDN, web security, bot mitigation, and edge services.

At risk

$12.3B

Moat8.0/10
Decentralizability5.7/10

Current cap

$76.4B

Share challenged

16.2%

Newmont

Newmont is a global gold producer with copper, silver, zinc, and lead exposure across large-scale mining operations.

At risk

$11.3B

Moat8.0/10
Decentralizability3.0/10

Current cap

$119.1B

Share challenged

9.5%

Stryker

Stryker makes medical and surgical equipment, orthopedic implants, surgical robotics, neurotechnology products, and related hospital equipment.

At risk

$10.9B

Moat8.0/10
Decentralizability3.0/10

Current cap

$120.9B

Share challenged

9.0%

Cummins

Cummins designs, manufactures, distributes, and services engines, power generation systems, components, and zero-emissions powertrain technologies.

At risk

$10.6B

Moat8.0/10
Decentralizability4.0/10

Current cap

$88.3B

Share challenged

12.0%

Gilead Sciences

Gilead Sciences is a U.S. biopharmaceutical company focused on HIV, liver disease, oncology, inflammation, and other serious diseases.

At risk

$10.5B

Moat8.0/10
Decentralizability2.0/10

Current cap

$165.2B

Share challenged

6.3%

U.S. Bancorp

U.S. Bancorp provides consumer banking, business banking, payments, wealth management, and institutional financial services.

At risk

$10.2B

Moat8.0/10
Decentralizability4.0/10

Current cap

$85.3B

Share challenged

12.0%

Monolithic Power Systems

Monolithic Power Systems designs and sells high-performance power management semiconductors, DC/DC converters, drivers, lighting controls, and power modules for computing, automotive, industrial, communications, and consumer electronics markets.

At risk

$9.9B

Moat8.0/10
Decentralizability4.0/10

Current cap

$78.1B

Share challenged

12.7%

Synopsys

Synopsys provides electronic design automation software, semiconductor IP, and silicon-to-systems design, verification, and simulation tools for semiconductor and electronics companies.

At risk

$9.5B

Moat9.0/10
Decentralizability4.0/10

Current cap

$100.5B

Share challenged

9.5%

Cadence Design Systems

Cadence Design Systems provides electronic design automation software, hardware verification systems, multiphysics analysis tools, and semiconductor IP for chip and system design.

At risk

$9.4B

Moat9.0/10
Decentralizability4.0/10

Current cap

$98.9B

Share challenged

9.5%

HCA Healthcare

HCA Healthcare operates hospitals, surgery centers, emergency rooms, urgent care clinics, and related health care facilities in the United States and the United Kingdom.

At risk

$8.3B

Moat8.0/10
Decentralizability3.0/10

Current cap

$87.4B

Share challenged

9.5%

Altria Group

Altria Group sells tobacco, oral nicotine, e-vapor, and related smoke-free products in the United States.

At risk

$8.2B

Moat8.0/10
Decentralizability2.0/10

Current cap

$123.4B

Share challenged

6.7%

Moody's Corporation

Moody's Corporation provides credit ratings, risk analytics, research, data, and financial intelligence services.

At risk

$8.1B

Moat9.0/10
Decentralizability4.0/10

Current cap

$81.4B

Share challenged

10.0%

KKR

KKR is a global investment firm managing private equity, credit, infrastructure, real estate, capital markets, and insurance-related assets.

At risk

$8B

Moat8.0/10
Decentralizability3.0/10

Current cap

$84.4B

Share challenged

9.5%

Union Pacific

Union Pacific operates a large U.S. freight railroad network serving agricultural, automotive, chemical, energy, industrial, and intermodal customers across the central and western United States.

At risk

$7.5B

Moat9.0/10
Decentralizability2.0/10

Current cap

$157.9B

Share challenged

4.8%

Intuitive Surgical

Intuitive Surgical develops, manufactures, and markets robotic-assisted surgical systems, instruments, accessories, software, and services for minimally invasive care.

At risk

$7.4B

Moat9.0/10
Decentralizability2.0/10

Current cap

$155.2B

Share challenged

4.8%

Bristol Myers Squibb

Bristol Myers Squibb is a global biopharmaceutical company focused on oncology, hematology, immunology, cardiovascular disease, and neuroscience medicines.

At risk

$7.3B

Moat8.0/10
Decentralizability2.0/10

Current cap

$121.6B

Share challenged

6.0%

Vertex Pharmaceuticals

Vertex Pharmaceuticals develops and commercializes biotechnology medicines for cystic fibrosis, sickle cell disease, beta thalassemia, acute pain, and other serious diseases.

At risk

$7B

Moat8.0/10
Decentralizability2.0/10

Current cap

$110.3B

Share challenged

6.3%

Boeing

Boeing designs, manufactures, sells, and services commercial aircraft, defense systems, satellites, and related aerospace products.

At risk

$6.9B

Moat9.0/10
Decentralizability2.0/10

Current cap

$173.1B

Share challenged

4.0%

General Dynamics

General Dynamics is a U.S. aerospace and defense contractor spanning business jets, shipbuilding, combat vehicles, weapons systems, mission systems, and government technology services.

At risk

$4.2B

Moat9.0/10
Decentralizability2.0/10

Current cap

$92.7B

Share challenged

4.5%

Docusign

Agreement management and electronic signature company spanning eSignature, CLM, and intelligent agreement workflows.

At risk

$2B

Moat7.2/10
Decentralizability5.8/10

Current cap

$9.6B

Share challenged

20.3%

Dropbox

Collaboration and file-sharing software company whose DocSend product provides tracked document sharing and virtual data rooms.

At risk

$1.7B

Moat6.4/10
Decentralizability6.2/10

Current cap

$6.4B

Share challenged

26.2%

Exxon Mobil

Integrated energy company spanning upstream oil and gas production, refining, chemicals, lubricants, and branded fuel distribution.

At risk

$60

Moat8.0/10
Decentralizability3.0/10

Current cap

$632

Share challenged

9.5%

Mastercard

Global payments network operator selling card-rail transaction processing alongside security, identity, data, and other value-added services.

At risk

$50

Moat8.9/10
Decentralizability4.2/10

Current cap

$450

Share challenged

11.0%

Bank of America

One of the world's largest financial institutions offering consumer banking, wealth management through Merrill, and global banking and markets services.

At risk

$29

Moat8.0/10
Decentralizability3.0/10

Current cap

$320

Share challenged

9.0%

Micron Technology

Micron Technology is a U.S. semiconductor manufacturer focused on DRAM, NAND, NOR, high-bandwidth memory, and storage products for data centers, AI systems, mobile devices, and embedded markets.

At risk

$22

Moat9.0/10
Decentralizability2.0/10

Current cap

$471

Share challenged

4.8%

Coca-Cola

Global beverage company spanning sparkling soft drinks, water, juice, coffee, tea, and sports drinks.

At risk

$12

Moat9.0/10
Decentralizability2.0/10

Current cap

$260

Share challenged

4.8%

Caterpillar

World's leading manufacturer of construction and mining equipment, diesel and natural gas engines, and industrial gas turbines, supported by Cat Financial's global equipment financing.

At risk

$8

Moat8.5/10
Decentralizability2.0/10

Current cap

$150

Share challenged

5.5%

Philip Morris International

Global tobacco and nicotine company centered on cigarettes, heated-tobacco systems, nicotine pouches, and other smoke-free products.

At risk

$8

Moat8.8/10
Decentralizability1.2/10

Current cap

$255

Share challenged

3.2%

Applied Materials

Applied Materials is the world's largest supplier of semiconductor and display manufacturing equipment, enabling chipmakers globally to fabricate integrated circuits and flat-panel displays.

At risk

$3

Moat9.0/10
Decentralizability1.0/10

Current cap

$140

Share challenged

2.4%

3M

3M is a diversified U.S. technology and manufacturing company selling safety, industrial, transportation, electronics, consumer, and office products worldwide.

At risk

$0

Moat82.0/10
Decentralizability35.0/10

Current cap

$79.1B

Share challenged

0.0%

Accenture

Accenture provides consulting, technology services, managed services, outsourcing, cloud, data, AI, security, marketing, and customer-experience services to large organizations.

At risk

$0

Moat76.0/10
Decentralizability55.0/10

Current cap

$109.3B

Share challenged

0.0%

Adobe

Adobe develops creative, document, marketing, analytics, and digital experience software for individuals, creative professionals, and enterprises.

At risk

$0

Moat86.0/10
Decentralizability61.0/10

Current cap

$98.7B

Share challenged

0.0%

American Tower

American Tower is a REIT that owns, operates, and leases multitenant communications real estate, including wireless tower sites and CoreSite data centers.

At risk

$0

Moat86.0/10
Decentralizability32.0/10

Current cap

$85.7B

Share challenged

0.0%

Amgen

Amgen is a biotechnology and pharmaceutical company focused on human therapeutics, including biologic medicines for inflammatory, cardiovascular, oncology, bone health, and rare-disease markets.

At risk

$0

Moat86.0/10
Decentralizability28.0/10

Current cap

$183.1B

Share challenged

0.0%

Amphenol

Amphenol designs and manufactures interconnect, sensor, antenna, cable, and related electronic components for communications, industrial, automotive, aerospace, defense, and IT datacom markets.

At risk

$0

Moat82.0/10
Decentralizability36.0/10

Current cap

$153.6B

Share challenged

0.0%

Analog Devices

Analog Devices designs and manufactures analog, mixed-signal, power management, radio-frequency, sensor, and digital signal processing semiconductors.

At risk

$0

Moat83.0/10
Decentralizability31.0/10

Current cap

$193.4B

Share challenged

0.0%

AT&T

AT&T provides wireless, fiber broadband, fixed wireless access, and business communications services in the United States.

At risk

$0

Moat88.0/10
Decentralizability30.0/10

Current cap

$176.1B

Share challenged

0.0%

Bank of New York Mellon

Bank of New York Mellon provides custody, asset servicing, clearing, wealth technology, investment management, and related financial infrastructure services.

At risk

$0

Moat88.0/10
Decentralizability34.0/10

Current cap

$97B

Share challenged

0.0%

BlackRock

BlackRock is a global asset manager offering ETFs, mutual funds, institutional mandates, portfolio analytics, risk systems, and advisory services.

At risk

$0

Moat91.0/10
Decentralizability47.0/10

Current cap

$165.1B

Share challenged

0.0%

Blackstone

Blackstone is a global alternative asset manager focused on private equity, real estate, credit, infrastructure, insurance, and multi-asset investing strategies.

At risk

$0

Moat88.0/10
Decentralizability38.0/10

Current cap

$144.9B

Share challenged

0.0%

Boston Scientific

Boston Scientific develops and sells medical devices for interventional cardiology, electrophysiology, endoscopy, urology, neuromodulation, and other specialties.

At risk

$0

Moat84.0/10
Decentralizability26.0/10

Current cap

$73B

Share challenged

0.0%

Capital One Financial

Capital One Financial provides credit cards, consumer banking, commercial banking, and auto finance services, with a larger payments footprint after completing its Discover acquisition in 2025.

At risk

$0

Moat83.0/10
Decentralizability28.0/10

Current cap

$116.2B

Share challenged

0.0%

Charles Schwab

Charles Schwab provides brokerage, wealth management, banking, custody, and investment advisory services to retail investors, advisors, and institutions.

At risk

$0

Moat86.0/10
Decentralizability38.0/10

Current cap

$156.8B

Share challenged

0.0%

Cigna

Cigna provides health insurance, pharmacy benefit management, care coordination, and related health services through Cigna Healthcare and Evernorth Health Services.

At risk

$0

Moat82.0/10
Decentralizability31.0/10

Current cap

$75.7B

Share challenged

0.0%

Citigroup

Citigroup is a global diversified bank providing consumer banking, institutional banking, markets, treasury, securities services, and wealth management products to individuals, corporations, governments, and institutions.

At risk

$0

Moat86.0/10
Decentralizability26.0/10

Current cap

$213.6B

Share challenged

0.0%

CME Group

CME Group operates derivatives exchanges, electronic trading infrastructure, market data products, and central counterparty clearing services for futures, options, cash, and OTC markets.

At risk

$0

Moat92.0/10
Decentralizability39.0/10

Current cap

$105.5B

Share challenged

0.0%

Comcast

Comcast provides broadband, cable, wireless, media, entertainment, streaming, studio, and theme park services through Xfinity, Comcast Business, Sky, NBCUniversal, Peacock, and related brands.

At risk

$0

Moat82.0/10
Decentralizability36.0/10

Current cap

$89.6B

Share challenged

0.0%

ConocoPhillips

ConocoPhillips is a U.S.-based independent oil and natural gas exploration and production company with Lower 48, LNG, oil sands, Alaska, Europe, Asia Pacific, Middle East and other upstream assets.

At risk

$0

Moat78.0/10
Decentralizability24.0/10

Current cap

$146.8B

Share challenged

0.0%

Constellation Energy

Constellation Energy is a U.S. electric utility and competitive power producer centered on nuclear generation, clean electricity supply, and large commercial energy services.

At risk

$0

Moat85.0/10
Decentralizability22.0/10

Current cap

$106.2B

Share challenged

0.0%

Corning

Corning makes specialty glass, ceramics, optical fiber, display glass, and related materials for communications, electronics, life sciences, automotive, and industrial markets.

At risk

$0

Moat82.0/10
Decentralizability34.0/10

Current cap

$155.5B

Share challenged

0.0%

CSX

CSX operates a freight railroad network serving merchandise, intermodal, coal, automotive, and agricultural customers in the eastern United States.

At risk

$0

Moat88.0/10
Decentralizability22.0/10

Current cap

$84.6B

Share challenged

0.0%

CVS Health

CVS Health operates an integrated U.S. health care platform spanning retail pharmacy, pharmacy benefits management, health insurance, and care delivery services.

At risk

$0

Moat82.0/10
Decentralizability38.0/10

Current cap

$119.7B

Share challenged

0.0%

Danaher

Danaher provides life sciences and diagnostics instruments, consumables, software, and services for research, bioprocessing, and clinical testing markets.

At risk

$0

Moat86.0/10
Decentralizability42.0/10

Current cap

$122.7B

Share challenged

0.0%

Deere & Company

Deere & Company makes agricultural, construction, forestry, turf, and precision-technology equipment under the John Deere brand.

At risk

$0

Moat86.0/10
Decentralizability34.0/10

Current cap

$143.5B

Share challenged

0.0%

Dell Technologies

Dell Technologies sells personal computers, servers, storage, networking products, software, and technology services.

At risk

$0

Moat72.0/10
Decentralizability48.0/10

Current cap

$205.9B

Share challenged

0.0%

Duke Energy

Duke Energy is a regulated U.S. electric and natural gas utility holding company serving customers across the Carolinas, Florida, Indiana, Ohio and Kentucky.

At risk

$0

Moat88.0/10
Decentralizability36.0/10

Current cap

$97.5B

Share challenged

0.0%

Emerson Electric

Emerson Electric provides automation systems, measurement instrumentation, control software, and industrial technology for process, hybrid, and discrete industries.

At risk

$0

Moat82.0/10
Decentralizability38.0/10

Current cap

$75.6B

Share challenged

0.0%

Equinix

Equinix operates a global, vendor-neutral data center and interconnection platform for enterprises, networks, cloud providers, and digital service providers.

At risk

$0

Moat86.0/10
Decentralizability42.0/10

Current cap

$106.5B

Share challenged

0.0%

Freeport-McMoRan

Freeport-McMoRan mines and processes copper, gold, molybdenum, and related metals through large-scale operations in the United States, South America, and Indonesia.

At risk

$0

Moat82.0/10
Decentralizability28.0/10

Current cap

$94.7B

Share challenged

0.0%

Howmet Aerospace

Howmet Aerospace manufactures engineered metal components, fastening systems, and structural products for aerospace, defense, commercial transportation, and industrial markets.

At risk

$0

Moat86.0/10
Decentralizability28.0/10

Current cap

$109.2B

Share challenged

0.0%

Intercontinental Exchange

Intercontinental Exchange operates exchanges, clearing houses, mortgage technology platforms, fixed-income data services, and the New York Stock Exchange.

At risk

$0

Moat90.0/10
Decentralizability32.0/10

Current cap

$83.9B

Share challenged

0.0%

Intuit

Intuit develops financial software for tax preparation, accounting, personal finance, and small businesses.

At risk

$0

Moat84.0/10
Decentralizability57.0/10

Current cap

$174B

Share challenged

0.0%

Johnson Controls International

Johnson Controls International provides building automation, HVAC, fire, security, and energy-efficiency systems and services for commercial and institutional facilities.

At risk

$0

Moat78.0/10
Decentralizability49.0/10

Current cap

$84.4B

Share challenged

0.0%

KLA

KLA supplies process control, inspection, metrology, data analytics, and services for semiconductor and electronics manufacturing.

At risk

$0

Moat91.0/10
Decentralizability24.0/10

Current cap

$230.3B

Share challenged

0.0%

Lockheed Martin

Lockheed Martin designs, manufactures, integrates, and sustains aerospace, defense, missile, fire-control, rotary, mission-system, and space technologies.

At risk

$0

Moat94.0/10
Decentralizability18.0/10

Current cap

$123B

Share challenged

0.0%

Marsh & McLennan

Marsh & McLennan, now branded as Marsh, provides insurance brokerage, risk advisory, reinsurance, consulting, health, retirement, investment, and workforce advisory services.

At risk

$0

Moat78.0/10
Decentralizability36.0/10

Current cap

$79.1B

Share challenged

0.0%

McDonald's

McDonald's is a global restaurant company built around franchised and company-operated quick-service restaurants.

At risk

$0

Moat86.0/10
Decentralizability44.0/10

Current cap

$201.9B

Share challenged

0.0%

McKesson

McKesson distributes pharmaceuticals, medical supplies, and health care technology products and services across provider, pharmacy, and life-sciences channels.

At risk

$0

Moat82.0/10
Decentralizability38.0/10

Current cap

$92.1B

Share challenged

0.0%

Medtronic

Medtronic develops and sells medical devices for cardiovascular, neuroscience, diabetes, and surgical care.

At risk

$0

Moat82.0/10
Decentralizability31.0/10

Current cap

$100.3B

Share challenged

0.0%

Mondelez International

Mondelez International is a global snack company selling biscuits, baked snacks, chocolate, gum, candy, powdered beverages, and snack bars through brands such as Oreo, Cadbury, Ritz, Milka, Toblerone, and CLIF.

At risk

$0

Moat82.0/10
Decentralizability48.0/10

Current cap

$79.3B

Share challenged

0.0%

NextEra Energy

NextEra Energy is a U.S. electric utility and energy infrastructure company built around Florida Power & Light and large-scale clean-energy development through NextEra Energy Resources.

At risk

$0

Moat88.0/10
Decentralizability42.0/10

Current cap

$184.7B

Share challenged

0.0%

Norfolk Southern

Norfolk Southern operates a freight railroad network serving merchandise, intermodal, coal, automotive, and industrial customers in the eastern United States.

At risk

$0

Moat88.0/10
Decentralizability22.0/10

Current cap

$70.6B

Share challenged

0.0%

Northrop Grumman

Northrop Grumman develops aerospace, defense, space, cyber, and mission systems for primarily government customers.

At risk

$0

Moat91.0/10
Decentralizability24.0/10

Current cap

$78.3B

Share challenged

0.0%

NXP Semiconductors

NXP Semiconductors designs and sells mixed-signal and embedded processors, microcontrollers, connectivity, security, and analog products for automotive, industrial, mobile, communications, and infrastructure markets.

At risk

$0

Moat82.0/10
Decentralizability38.0/10

Current cap

$75.6B

Share challenged

0.0%

Parker-Hannifin

Parker-Hannifin makes motion and control technologies for industrial and aerospace markets.

At risk

$0

Moat82.0/10
Decentralizability48.0/10

Current cap

$109B

Share challenged

0.0%

Pfizer

Pfizer develops, manufactures, and sells prescription medicines, vaccines, and oncology therapies worldwide.

At risk

$0

Moat86.0/10
Decentralizability22.0/10

Current cap

$147.9B

Share challenged

0.0%

PNC Financial Services Group

PNC Financial Services Group provides retail banking, corporate and institutional banking, asset management, and related financial services in the United States.

At risk

$0

Moat78.0/10
Decentralizability38.0/10

Current cap

$88.5B

Share challenged

0.0%

Progressive

Progressive provides personal and commercial auto insurance and other property and casualty insurance products.

At risk

$0

Moat78.0/10
Decentralizability32.0/10

Current cap

$116.6B

Share challenged

0.0%

Prologis

Prologis is an industrial REIT focused on logistics real estate and adjacent energy, mobility, and operations services for supply-chain customers.

At risk

$0

Moat83.0/10
Decentralizability31.0/10

Current cap

$137.7B

Share challenged

0.0%

Qualcomm

Qualcomm designs wireless semiconductor platforms, modem-RF systems, processors, and licensing technologies for mobile, automotive, IoT, edge AI, and connected computing devices.

At risk

$0

Moat86.0/10
Decentralizability32.0/10

Current cap

$143.1B

Share challenged

0.0%

S&P Global

S&P Global provides credit ratings, benchmarks, analytics, and financial market data for capital, commodity, and automotive markets.

At risk

$0

Moat92.0/10
Decentralizability36.0/10

Current cap

$122.1B

Share challenged

0.0%

ServiceNow

ServiceNow provides cloud-based workflow automation, IT service management, and AI-enabled enterprise operations software.

At risk

$0

Moat82.0/10
Decentralizability38.0/10

Current cap

$103.1B

Share challenged

0.0%

Sherwin-Williams

Sherwin-Williams develops, manufactures, distributes, and sells paints, coatings, stains, finishes, and related products for professional, industrial, commercial, and retail customers.

At risk

$0

Moat82.0/10
Decentralizability28.0/10

Current cap

$75.3B

Share challenged

0.0%

SLB

SLB provides technology, equipment, software, and services for oil and gas exploration, drilling, production, and energy operations.

At risk

$0

Moat84.0/10
Decentralizability39.0/10

Current cap

$79.2B

Share challenged

0.0%

Starbucks

Starbucks operates and licenses coffeehouses and sells coffee, tea, beverages, food, packaged coffee, and ready-to-drink products worldwide.

At risk

$0

Moat78.0/10
Decentralizability61.0/10

Current cap

$117.5B

Share challenged

0.0%

T-Mobile US

T-Mobile US is a wireless telecommunications company providing mobile voice, data, broadband, and related services in the United States.

At risk

$0

Moat86.0/10
Decentralizability31.0/10

Current cap

$210.2B

Share challenged

0.0%

Thermo Fisher Scientific

Thermo Fisher Scientific supplies analytical instruments, laboratory equipment, reagents, consumables, software, and services for science and health care customers.

At risk

$0

Moat82.0/10
Decentralizability34.0/10

Current cap

$167B

Share challenged

0.0%

Trane Technologies

Trane Technologies makes heating, ventilation, air conditioning, refrigeration, building automation, and transport temperature-control systems through brands including Trane and Thermo King.

At risk

$0

Moat82.0/10
Decentralizability42.0/10

Current cap

$99.7B

Share challenged

0.0%

Uber Technologies

Uber Technologies operates global mobility, delivery, and freight marketplace platforms that connect consumers, earners, merchants, and shippers.

At risk

$0

Moat82.0/10
Decentralizability61.0/10

Current cap

$143.4B

Share challenged

0.0%

Waste Management

Waste Management provides waste collection, recycling, landfill, transfer, environmental, and renewable energy services across North America.

At risk

$0

Moat88.0/10
Decentralizability38.0/10

Current cap

$86.1B

Share challenged

0.0%

Wells Fargo

Wells Fargo is a U.S. diversified bank offering consumer banking, commercial banking, corporate banking, investment banking, and wealth management services.

At risk

$0

Moat86.0/10
Decentralizability31.0/10

Current cap

$233.8B

Share challenged

0.0%

Western Digital

Western Digital develops and sells hard-disk storage devices and data-center storage platforms after separating its flash business into Sandisk.

At risk

$0

Moat82.0/10
Decentralizability34.0/10

Current cap

$170.3B

Share challenged

0.0%

Williams Companies

Williams Companies owns and operates major U.S. natural gas transmission, gathering, processing, storage, and midstream infrastructure.

At risk

$0

Moat86.0/10
Decentralizability31.0/10

Current cap

$94.8B

Share challenged

0.0%

Quick reads

A few obvious takeaways

Sometimes the point of a chart is not nuance. It is to force the right comparison.

Largest current exposure

FedEx

$2,808,960T challenged, or 100.0% of current cap.

Most decentralizable giant

Adobe

61.0/10 decentralizability with a 86.0/10 moat.

Deepest moat in sample

Lockheed Martin

94.0/10 moat with $123B in current equity value.

Ranked exposures

Who matters most if the rents compress?

This list ranks the currently published companies by the model's freed-capital estimate, then keeps the underlying moat and decentralizability scores visible beside it.

FedEx

FedEx provides parcel delivery, express transportation, freight, and logistics services through integrated air, ground, and freight networks.

At risk

$2,808,960T

Moat

8.0/10

Decentral.

4.0/10

Share challenged

100.0%

Microsoft

Enterprise software and cloud infrastructure giant spanning productivity, developer platforms, and operating systems.

At risk

$523.2B

Moat

9.1/10

Decentral.

6.4/10

Share challenged

15.9%

Meta Platforms

Ad-supported social and messaging empire anchored by Facebook, Instagram, and WhatsApp.

At risk

$446B

Moat

7.9/10

Decentral.

7.4/10

Share challenged

24.8%

Alphabet

Search, ads, video, mobile, and cloud giant still centered economically on attention capture.

At risk

$444.3B

Moat

8.7/10

Decentral.

6.8/10

Share challenged

18.5%

Amazon

Retail, logistics, advertising, and cloud juggernaut with scale in both atoms and bits.

At risk

$301.3B

Moat

8.9/10

Decentral.

5.7/10

Share challenged

13.7%

Apple

A vertically integrated device and services empire built around the iPhone.

At risk

$234.3B

Moat

9.3/10

Decentral.

2.8/10

Share challenged

6.3%

NVIDIA

GPU kingmaker for AI training, inference, gaming, and high-performance compute.

At risk

$222.5B

Moat

9.6/10

Decentral.

2.5/10

Share challenged

5.2%

Tesla

EV, charging, energy storage, and autonomy company that sells both products and future narratives.

At risk

$190B

Moat

7.4/10

Decentral.

5.9/10

Share challenged

19.0%

Broadcom

Semiconductor and infrastructure software consolidator with critical exposure to networking and virtualization.

At risk

$117.8B

Moat

8.6/10

Decentral.

3.8/10

Share challenged

10.7%

Walmart

Scale retail and grocery giant whose moat lives in sourcing, logistics, and physical footprint.

At risk

$97B

Moat

8.2/10

Decentral.

4.4/10

Share challenged

12.1%

JPMorgan Chase

Diversified financial-services company spanning consumer banking, payments, markets, and asset management.

At risk

$67.1B

Moat

9.0/10

Decentral.

4.0/10

Share challenged

10.0%

Cisco Systems

Networking and security company selling enterprise networking, collaboration, observability, and infrastructure software.

At risk

$48.9B

Moat

8.0/10

Decentral.

5.0/10

Share challenged

15.8%

Visa

Global payments-network operator connecting issuers, acquirers, merchants, consumers, businesses, and governments through VisaNet and related value-added services.

At risk

$46.9B

Moat

9.0/10

Decentral.

3.0/10

Share challenged

7.9%

Netflix

Global subscription video service combining streaming, original programming, recommendations, live programming, games, and a lower-priced ad-supported plan.

At risk

$46.5B

Moat

8.7/10

Decentral.

4.2/10

Share challenged

11.6%

Berkshire Hathaway

Conglomerate spanning insurance, rail, utilities, manufacturing, and a massive equity portfolio.

At risk

$43.5B

Moat

8.8/10

Decentral.

1.9/10

Share challenged

4.8%

IBM

IBM provides hybrid cloud, artificial intelligence, consulting, infrastructure, and enterprise software products and services.

At risk

$42.9B

Moat

8.0/10

Decentral.

6.0/10

Share challenged

18.0%

Intel

Intel designs and manufactures processors, chipsets, accelerators, networking silicon, software, and foundry services for client, data center, edge, and embedded computing markets.

At risk

$42.2B

Moat

8.0/10

Decentral.

3.0/10

Share challenged

7.0%

Costco

Membership warehouse retailer combining limited-SKU bulk merchandising, private-label products, and high-volume operational discipline.

At risk

$41.8B

Moat

9.0/10

Decentral.

4.0/10

Share challenged

9.5%

Johnson & Johnson

Diversified health-care company focused on Innovative Medicine and MedTech after the Kenvue consumer-health separation.

At risk

$41.7B

Moat

9.0/10

Decentral.

3.0/10

Share challenged

7.1%

Eli Lilly

Pharmaceutical company centered on diabetes, obesity, oncology, immunology, and neuroscience therapies.

At risk

$40.4B

Moat

9.0/10

Decentral.

2.0/10

Share challenged

5.0%

Texas Instruments

Texas Instruments designs and manufactures analog and embedded processing semiconductors for industrial, automotive, personal electronics, and communications markets.

At risk

$34.9B

Moat

8.0/10

Decentral.

4.0/10

Share challenged

12.7%

Chevron

Integrated energy company spanning crude oil and natural gas production, LNG, refining, chemicals, and global fuel brands.

At risk

$34.5B

Moat

8.0/10

Decentral.

3.0/10

Share challenged

9.0%

Procter & Gamble

Consumer packaged-goods company spanning fabric care, baby care, grooming, oral care, and household brands.

At risk

$34B

Moat

9.0/10

Decentral.

4.0/10

Share challenged

9.5%

GE Vernova

GE Vernova is an energy equipment and services company focused on power generation, grid technology, wind energy, and electrification infrastructure.

At risk

$33.7B

Moat

8.0/10

Decentral.

4.0/10

Share challenged

12.0%

Oracle

Enterprise software and cloud infrastructure incumbent centered on databases, back-office applications, and large-account infrastructure contracts.

At risk

$33.4B

Moat

9.0/10

Decentral.

3.0/10

Share challenged

7.1%

Morgan Stanley

Morgan Stanley is a global financial services firm focused on institutional securities, wealth management, and investment management.

At risk

$31.7B

Moat

9.0/10

Decentral.

4.0/10

Share challenged

10.0%

Arista Networks

Arista Networks provides cloud networking switches, routers, network operating software, and management software for AI, data center, campus, and routing environments.

At risk

$31.2B

Moat

8.0/10

Decentral.

5.0/10

Share challenged

16.7%

PepsiCo

PepsiCo is a global food and beverage company built around soft drinks, sports drinks, snacks, cereals, and packaged food brands.

At risk

$30.5B

Moat

8.0/10

Decentral.

5.0/10

Share challenged

15.0%

Advanced Micro Devices

Semiconductor company designing CPUs, GPUs, accelerators, adaptive SoCs, and related computing platforms for data center, client, gaming, and embedded markets.

At risk

$30.1B

Moat

8.0/10

Decentral.

3.0/10

Share challenged

9.0%

Palantir Technologies

Data integration, analytics, and AI software company serving governments and large enterprises.

At risk

$27.8B

Moat

9.0/10

Decentral.

3.0/10

Share challenged

7.5%

Goldman Sachs

Goldman Sachs is a global financial services firm focused on investment banking, markets, asset management, and wealth management.

At risk

$27.7B

Moat

8.0/10

Decentral.

3.0/10

Share challenged

9.5%

Merck & Co.

Research-intensive pharmaceutical company focused on oncology, vaccines, animal health, and specialty medicines.

At risk

$27.3B

Moat

8.0/10

Decentral.

3.0/10

Share challenged

9.5%

Seagate Technology

Seagate Technology designs and sells hard disk drives, solid-state drives, and data storage systems for cloud, enterprise, edge, and consumer storage workloads.

At risk

$27.3B

Moat

7.0/10

Decentral.

4.0/10

Share challenged

15.0%

AbbVie

AbbVie is a U.S. biopharmaceutical company whose growth engine now centers on immunology, oncology, neuroscience, aesthetics, and specialty therapies.

At risk

$25.5B

Moat

8.0/10

Decentral.

2.0/10

Share challenged

6.3%

Palo Alto Networks

Palo Alto Networks provides cybersecurity platforms spanning network security, cloud security, and security operations.

At risk

$25B

Moat

8.0/10

Decentral.

5.0/10

Share challenged

15.0%

Booking Holdings

Booking Holdings operates online travel and restaurant reservation platforms including Booking.com, Priceline, Agoda, KAYAK, and OpenTable.

At risk

$24.7B

Moat

8.0/10

Decentral.

6.0/10

Share challenged

20.0%

Verizon Communications

Verizon Communications provides wireless, fixed wireless, fiber broadband, video, voice, and enterprise communications services in the United States.

At risk

$24.2B

Moat

8.0/10

Decentral.

4.0/10

Share challenged

12.0%

Eaton

Eaton provides electrical, aerospace, vehicle, and industrial power management products for buildings, data centers, utilities, mobility, and industrial customers.

At risk

$24.1B

Moat

8.0/10

Decentral.

5.0/10

Share challenged

15.8%

Linde

Linde is an industrial gases and engineering company serving health care, manufacturing, chemicals, energy, electronics, food and beverage, metals, and mining customers.

At risk

$22.7B

Moat

8.0/10

Decentral.

3.0/10

Share challenged

9.5%

UnitedHealth Group

UnitedHealth Group is a U.S. health care and well-being company operating health benefits through UnitedHealthcare and care, pharmacy, technology, and data services through Optum.

At risk

$22.5B

Moat

9.0/10

Decentral.

3.0/10

Share challenged

6.4%

TJX Companies

TJX Companies is a global off-price apparel and home fashions retailer operating banners including T.J. Maxx, Marshalls, HomeGoods, Winners, HomeSense, Sierra, and T.K. Maxx.

At risk

$22.2B

Moat

8.0/10

Decentral.

4.0/10

Share challenged

12.7%

American Express

American Express operates a global payments network and issues charge, credit, and corporate payment products.

At risk

$21.3B

Moat

9.0/10

Decentral.

4.0/10

Share challenged

10.0%

Salesforce

Enterprise CRM and sales automation platform company centered on Sales Cloud, Data Cloud, and Agentforce.

At risk

$21B

Moat

8.6/10

Decentral.

5.4/10

Share challenged

14.2%

Lowe's Companies

Lowe's Companies operates a large U.S. home improvement retail network, e-commerce channels, and professional customer programs for repair, remodel, maintenance, and construction demand.

At risk

$19.1B

Moat

8.0/10

Decentral.

5.0/10

Share challenged

15.8%

Walt Disney

The Walt Disney Company operates entertainment, sports, theme parks, streaming, film, television, and consumer products businesses.

At risk

$17.9B

Moat

9.0/10

Decentral.

4.0/10

Share challenged

9.5%

Lam Research

Lam Research supplies wafer fabrication equipment and services used in semiconductor manufacturing.

At risk

$17.8B

Moat

9.0/10

Decentral.

2.0/10

Share challenged

4.8%

Honeywell International

Honeywell International supplies aerospace technologies, industrial automation, building automation, and energy and sustainability solutions.

At risk

$17B

Moat

8.0/10

Decentral.

4.0/10

Share challenged

12.0%

CrowdStrike

CrowdStrike provides cloud-delivered cybersecurity software for endpoint, identity, cloud, SIEM, threat intelligence, and AI-assisted security operations.

At risk

$16.6B

Moat

8.0/10

Decentral.

4.0/10

Share challenged

10.0%

Chubb

Chubb is a global property and casualty insurer that also provides accident and health insurance, life insurance, personal risk services, and reinsurance.

At risk

$16.1B

Moat

8.0/10

Decentral.

4.0/10

Share challenged

12.7%

Marriott International

Marriott International franchises, manages, and licenses hotels, resorts, branded residences, timeshare offerings, and related lodging brands worldwide.

At risk

$15.4B

Moat

8.0/10

Decentral.

5.0/10

Share challenged

15.8%

GE Aerospace

A U.S. aerospace manufacturer focused on commercial and defense aircraft engines, propulsion systems, and high-value aftermarket services.

At risk

$14.6B

Moat

9.0/10

Decentral.

2.0/10

Share challenged

4.8%

Automatic Data Processing

Automatic Data Processing provides cloud-based payroll, human capital management, benefits, compliance, and HR outsourcing software and services.

At risk

$14.3B

Moat

8.0/10

Decentral.

5.0/10

Share challenged

15.8%

Abbott Laboratories

Abbott Laboratories makes medical devices, diagnostics, nutrition products, and branded generic medicines.

At risk

$13.7B

Moat

8.0/10

Decentral.

3.0/10

Share challenged

9.0%

Welltower

Welltower is a health care REIT that owns and invests in senior housing, triple-net health care assets, and outpatient medical properties.

At risk

$13B

Moat

8.0/10

Decentral.

3.0/10

Share challenged

8.5%

Southern Company

Southern Company is a regulated U.S. electric and natural gas utility holding company serving customers through operating utilities, wholesale generation, distributed energy, and related infrastructure businesses.

At risk

$12.8B

Moat

8.0/10

Decentral.

4.0/10

Share challenged

12.0%

O'Reilly Automotive

O'Reilly Automotive sells automotive aftermarket parts, tools, supplies, equipment, and accessories to do-it-yourself customers and professional service providers through stores and online channels.

At risk

$12.7B

Moat

8.0/10

Decentral.

5.0/10

Share challenged

16.7%

RTX

RTX is a large U.S. aerospace and defense company spanning Pratt & Whitney aircraft engines, Collins Aerospace systems, and Raytheon defense platforms.

At risk

$12.5B

Moat

9.0/10

Decentral.

2.0/10

Share challenged

4.5%

Quanta Services

Quanta Services provides specialty infrastructure contracting services for electric power, renewable energy, communications, pipeline, and industrial markets.

At risk

$12.5B

Moat

8.0/10

Decentral.

4.0/10

Share challenged

11.3%

Cloudflare

Internet infrastructure and security platform company spanning CDN, web security, bot mitigation, and edge services.

At risk

$12.3B

Moat

8.0/10

Decentral.

5.7/10

Share challenged

16.2%

Newmont

Newmont is a global gold producer with copper, silver, zinc, and lead exposure across large-scale mining operations.

At risk

$11.3B

Moat

8.0/10

Decentral.

3.0/10

Share challenged

9.5%

Stryker

Stryker makes medical and surgical equipment, orthopedic implants, surgical robotics, neurotechnology products, and related hospital equipment.

At risk

$10.9B

Moat

8.0/10

Decentral.

3.0/10

Share challenged

9.0%

Cummins

Cummins designs, manufactures, distributes, and services engines, power generation systems, components, and zero-emissions powertrain technologies.

At risk

$10.6B

Moat

8.0/10

Decentral.

4.0/10

Share challenged

12.0%

Gilead Sciences

Gilead Sciences is a U.S. biopharmaceutical company focused on HIV, liver disease, oncology, inflammation, and other serious diseases.

At risk

$10.5B

Moat

8.0/10

Decentral.

2.0/10

Share challenged

6.3%

U.S. Bancorp

U.S. Bancorp provides consumer banking, business banking, payments, wealth management, and institutional financial services.

At risk

$10.2B

Moat

8.0/10

Decentral.

4.0/10

Share challenged

12.0%

Monolithic Power Systems

Monolithic Power Systems designs and sells high-performance power management semiconductors, DC/DC converters, drivers, lighting controls, and power modules for computing, automotive, industrial, communications, and consumer electronics markets.

At risk

$9.9B

Moat

8.0/10

Decentral.

4.0/10

Share challenged

12.7%

Synopsys

Synopsys provides electronic design automation software, semiconductor IP, and silicon-to-systems design, verification, and simulation tools for semiconductor and electronics companies.

At risk

$9.5B

Moat

9.0/10

Decentral.

4.0/10

Share challenged

9.5%

Cadence Design Systems

Cadence Design Systems provides electronic design automation software, hardware verification systems, multiphysics analysis tools, and semiconductor IP for chip and system design.

At risk

$9.4B

Moat

9.0/10

Decentral.

4.0/10

Share challenged

9.5%

HCA Healthcare

HCA Healthcare operates hospitals, surgery centers, emergency rooms, urgent care clinics, and related health care facilities in the United States and the United Kingdom.

At risk

$8.3B

Moat

8.0/10

Decentral.

3.0/10

Share challenged

9.5%

Altria Group

Altria Group sells tobacco, oral nicotine, e-vapor, and related smoke-free products in the United States.

At risk

$8.2B

Moat

8.0/10

Decentral.

2.0/10

Share challenged

6.7%

Moody's Corporation

Moody's Corporation provides credit ratings, risk analytics, research, data, and financial intelligence services.

At risk

$8.1B

Moat

9.0/10

Decentral.

4.0/10

Share challenged

10.0%

KKR

KKR is a global investment firm managing private equity, credit, infrastructure, real estate, capital markets, and insurance-related assets.

At risk

$8B

Moat

8.0/10

Decentral.

3.0/10

Share challenged

9.5%

Union Pacific

Union Pacific operates a large U.S. freight railroad network serving agricultural, automotive, chemical, energy, industrial, and intermodal customers across the central and western United States.

At risk

$7.5B

Moat

9.0/10

Decentral.

2.0/10

Share challenged

4.8%

Intuitive Surgical

Intuitive Surgical develops, manufactures, and markets robotic-assisted surgical systems, instruments, accessories, software, and services for minimally invasive care.

At risk

$7.4B

Moat

9.0/10

Decentral.

2.0/10

Share challenged

4.8%

Bristol Myers Squibb

Bristol Myers Squibb is a global biopharmaceutical company focused on oncology, hematology, immunology, cardiovascular disease, and neuroscience medicines.

At risk

$7.3B

Moat

8.0/10

Decentral.

2.0/10

Share challenged

6.0%

Vertex Pharmaceuticals

Vertex Pharmaceuticals develops and commercializes biotechnology medicines for cystic fibrosis, sickle cell disease, beta thalassemia, acute pain, and other serious diseases.

At risk

$7B

Moat

8.0/10

Decentral.

2.0/10

Share challenged

6.3%

Boeing

Boeing designs, manufactures, sells, and services commercial aircraft, defense systems, satellites, and related aerospace products.

At risk

$6.9B

Moat

9.0/10

Decentral.

2.0/10

Share challenged

4.0%

General Dynamics

General Dynamics is a U.S. aerospace and defense contractor spanning business jets, shipbuilding, combat vehicles, weapons systems, mission systems, and government technology services.

At risk

$4.2B

Moat

9.0/10

Decentral.

2.0/10

Share challenged

4.5%

Docusign

Agreement management and electronic signature company spanning eSignature, CLM, and intelligent agreement workflows.

At risk

$2B

Moat

7.2/10

Decentral.

5.8/10

Share challenged

20.3%

Dropbox

Collaboration and file-sharing software company whose DocSend product provides tracked document sharing and virtual data rooms.

At risk

$1.7B

Moat

6.4/10

Decentral.

6.2/10

Share challenged

26.2%

Exxon Mobil

Integrated energy company spanning upstream oil and gas production, refining, chemicals, lubricants, and branded fuel distribution.

At risk

$60

Moat

8.0/10

Decentral.

3.0/10

Share challenged

9.5%

Mastercard

Global payments network operator selling card-rail transaction processing alongside security, identity, data, and other value-added services.

At risk

$50

Moat

8.9/10

Decentral.

4.2/10

Share challenged

11.0%

Bank of America

One of the world's largest financial institutions offering consumer banking, wealth management through Merrill, and global banking and markets services.

At risk

$29

Moat

8.0/10

Decentral.

3.0/10

Share challenged

9.0%

Micron Technology

Micron Technology is a U.S. semiconductor manufacturer focused on DRAM, NAND, NOR, high-bandwidth memory, and storage products for data centers, AI systems, mobile devices, and embedded markets.

At risk

$22

Moat

9.0/10

Decentral.

2.0/10

Share challenged

4.8%

Coca-Cola

Global beverage company spanning sparkling soft drinks, water, juice, coffee, tea, and sports drinks.

At risk

$12

Moat

9.0/10

Decentral.

2.0/10

Share challenged

4.8%

Caterpillar

World's leading manufacturer of construction and mining equipment, diesel and natural gas engines, and industrial gas turbines, supported by Cat Financial's global equipment financing.

At risk

$8

Moat

8.5/10

Decentral.

2.0/10

Share challenged

5.5%

Philip Morris International

Global tobacco and nicotine company centered on cigarettes, heated-tobacco systems, nicotine pouches, and other smoke-free products.

At risk

$8

Moat

8.8/10

Decentral.

1.2/10

Share challenged

3.2%

Applied Materials

Applied Materials is the world's largest supplier of semiconductor and display manufacturing equipment, enabling chipmakers globally to fabricate integrated circuits and flat-panel displays.

At risk

$3

Moat

9.0/10

Decentral.

1.0/10

Share challenged

2.4%

3M

3M is a diversified U.S. technology and manufacturing company selling safety, industrial, transportation, electronics, consumer, and office products worldwide.

At risk

$0

Moat

82.0/10

Decentral.

35.0/10

Share challenged

0.0%

Accenture

Accenture provides consulting, technology services, managed services, outsourcing, cloud, data, AI, security, marketing, and customer-experience services to large organizations.

At risk

$0

Moat

76.0/10

Decentral.

55.0/10

Share challenged

0.0%

Adobe

Adobe develops creative, document, marketing, analytics, and digital experience software for individuals, creative professionals, and enterprises.

At risk

$0

Moat

86.0/10

Decentral.

61.0/10

Share challenged

0.0%

American Tower

American Tower is a REIT that owns, operates, and leases multitenant communications real estate, including wireless tower sites and CoreSite data centers.

At risk

$0

Moat

86.0/10

Decentral.

32.0/10

Share challenged

0.0%

Amgen

Amgen is a biotechnology and pharmaceutical company focused on human therapeutics, including biologic medicines for inflammatory, cardiovascular, oncology, bone health, and rare-disease markets.

At risk

$0

Moat

86.0/10

Decentral.

28.0/10

Share challenged

0.0%

Amphenol

Amphenol designs and manufactures interconnect, sensor, antenna, cable, and related electronic components for communications, industrial, automotive, aerospace, defense, and IT datacom markets.

At risk

$0

Moat

82.0/10

Decentral.

36.0/10

Share challenged

0.0%

Analog Devices

Analog Devices designs and manufactures analog, mixed-signal, power management, radio-frequency, sensor, and digital signal processing semiconductors.

At risk

$0

Moat

83.0/10

Decentral.

31.0/10

Share challenged

0.0%

AT&T

AT&T provides wireless, fiber broadband, fixed wireless access, and business communications services in the United States.

At risk

$0

Moat

88.0/10

Decentral.

30.0/10

Share challenged

0.0%

Bank of New York Mellon

Bank of New York Mellon provides custody, asset servicing, clearing, wealth technology, investment management, and related financial infrastructure services.

At risk

$0

Moat

88.0/10

Decentral.

34.0/10

Share challenged

0.0%

BlackRock

BlackRock is a global asset manager offering ETFs, mutual funds, institutional mandates, portfolio analytics, risk systems, and advisory services.

At risk

$0

Moat

91.0/10

Decentral.

47.0/10

Share challenged

0.0%

Blackstone

Blackstone is a global alternative asset manager focused on private equity, real estate, credit, infrastructure, insurance, and multi-asset investing strategies.

At risk

$0

Moat

88.0/10

Decentral.

38.0/10

Share challenged

0.0%

Boston Scientific

Boston Scientific develops and sells medical devices for interventional cardiology, electrophysiology, endoscopy, urology, neuromodulation, and other specialties.

At risk

$0

Moat

84.0/10

Decentral.

26.0/10

Share challenged

0.0%

Capital One Financial

Capital One Financial provides credit cards, consumer banking, commercial banking, and auto finance services, with a larger payments footprint after completing its Discover acquisition in 2025.

At risk

$0

Moat

83.0/10

Decentral.

28.0/10

Share challenged

0.0%

Charles Schwab

Charles Schwab provides brokerage, wealth management, banking, custody, and investment advisory services to retail investors, advisors, and institutions.

At risk

$0

Moat

86.0/10

Decentral.

38.0/10

Share challenged

0.0%

Cigna

Cigna provides health insurance, pharmacy benefit management, care coordination, and related health services through Cigna Healthcare and Evernorth Health Services.

At risk

$0

Moat

82.0/10

Decentral.

31.0/10

Share challenged

0.0%

Citigroup

Citigroup is a global diversified bank providing consumer banking, institutional banking, markets, treasury, securities services, and wealth management products to individuals, corporations, governments, and institutions.

At risk

$0

Moat

86.0/10

Decentral.

26.0/10

Share challenged

0.0%

CME Group

CME Group operates derivatives exchanges, electronic trading infrastructure, market data products, and central counterparty clearing services for futures, options, cash, and OTC markets.

At risk

$0

Moat

92.0/10

Decentral.

39.0/10

Share challenged

0.0%

Comcast

Comcast provides broadband, cable, wireless, media, entertainment, streaming, studio, and theme park services through Xfinity, Comcast Business, Sky, NBCUniversal, Peacock, and related brands.

At risk

$0

Moat

82.0/10

Decentral.

36.0/10

Share challenged

0.0%

ConocoPhillips

ConocoPhillips is a U.S.-based independent oil and natural gas exploration and production company with Lower 48, LNG, oil sands, Alaska, Europe, Asia Pacific, Middle East and other upstream assets.

At risk

$0

Moat

78.0/10

Decentral.

24.0/10

Share challenged

0.0%

Constellation Energy

Constellation Energy is a U.S. electric utility and competitive power producer centered on nuclear generation, clean electricity supply, and large commercial energy services.

At risk

$0

Moat

85.0/10

Decentral.

22.0/10

Share challenged

0.0%

Corning

Corning makes specialty glass, ceramics, optical fiber, display glass, and related materials for communications, electronics, life sciences, automotive, and industrial markets.

At risk

$0

Moat

82.0/10

Decentral.

34.0/10

Share challenged

0.0%

CSX

CSX operates a freight railroad network serving merchandise, intermodal, coal, automotive, and agricultural customers in the eastern United States.

At risk

$0

Moat

88.0/10

Decentral.

22.0/10

Share challenged

0.0%

CVS Health

CVS Health operates an integrated U.S. health care platform spanning retail pharmacy, pharmacy benefits management, health insurance, and care delivery services.

At risk

$0

Moat

82.0/10

Decentral.

38.0/10

Share challenged

0.0%

Danaher

Danaher provides life sciences and diagnostics instruments, consumables, software, and services for research, bioprocessing, and clinical testing markets.

At risk

$0

Moat

86.0/10

Decentral.

42.0/10

Share challenged

0.0%

Deere & Company

Deere & Company makes agricultural, construction, forestry, turf, and precision-technology equipment under the John Deere brand.

At risk

$0

Moat

86.0/10

Decentral.

34.0/10

Share challenged

0.0%

Dell Technologies

Dell Technologies sells personal computers, servers, storage, networking products, software, and technology services.

At risk

$0

Moat

72.0/10

Decentral.

48.0/10

Share challenged

0.0%

Duke Energy

Duke Energy is a regulated U.S. electric and natural gas utility holding company serving customers across the Carolinas, Florida, Indiana, Ohio and Kentucky.

At risk

$0

Moat

88.0/10

Decentral.

36.0/10

Share challenged

0.0%

Emerson Electric

Emerson Electric provides automation systems, measurement instrumentation, control software, and industrial technology for process, hybrid, and discrete industries.

At risk

$0

Moat

82.0/10

Decentral.

38.0/10

Share challenged

0.0%

Equinix

Equinix operates a global, vendor-neutral data center and interconnection platform for enterprises, networks, cloud providers, and digital service providers.

At risk

$0

Moat

86.0/10

Decentral.

42.0/10

Share challenged

0.0%

Freeport-McMoRan

Freeport-McMoRan mines and processes copper, gold, molybdenum, and related metals through large-scale operations in the United States, South America, and Indonesia.

At risk

$0

Moat

82.0/10

Decentral.

28.0/10

Share challenged

0.0%

Howmet Aerospace

Howmet Aerospace manufactures engineered metal components, fastening systems, and structural products for aerospace, defense, commercial transportation, and industrial markets.

At risk

$0

Moat

86.0/10

Decentral.

28.0/10

Share challenged

0.0%

Intercontinental Exchange

Intercontinental Exchange operates exchanges, clearing houses, mortgage technology platforms, fixed-income data services, and the New York Stock Exchange.

At risk

$0

Moat

90.0/10

Decentral.

32.0/10

Share challenged

0.0%

Intuit

Intuit develops financial software for tax preparation, accounting, personal finance, and small businesses.

At risk

$0

Moat

84.0/10

Decentral.

57.0/10

Share challenged

0.0%

Johnson Controls International

Johnson Controls International provides building automation, HVAC, fire, security, and energy-efficiency systems and services for commercial and institutional facilities.

At risk

$0

Moat

78.0/10

Decentral.

49.0/10

Share challenged

0.0%

KLA

KLA supplies process control, inspection, metrology, data analytics, and services for semiconductor and electronics manufacturing.

At risk

$0

Moat

91.0/10

Decentral.

24.0/10

Share challenged

0.0%

Lockheed Martin

Lockheed Martin designs, manufactures, integrates, and sustains aerospace, defense, missile, fire-control, rotary, mission-system, and space technologies.

At risk

$0

Moat

94.0/10

Decentral.

18.0/10

Share challenged

0.0%

Marsh & McLennan

Marsh & McLennan, now branded as Marsh, provides insurance brokerage, risk advisory, reinsurance, consulting, health, retirement, investment, and workforce advisory services.

At risk

$0

Moat

78.0/10

Decentral.

36.0/10

Share challenged

0.0%

McDonald's

McDonald's is a global restaurant company built around franchised and company-operated quick-service restaurants.

At risk

$0

Moat

86.0/10

Decentral.

44.0/10

Share challenged

0.0%

McKesson

McKesson distributes pharmaceuticals, medical supplies, and health care technology products and services across provider, pharmacy, and life-sciences channels.

At risk

$0

Moat

82.0/10

Decentral.

38.0/10

Share challenged

0.0%

Medtronic

Medtronic develops and sells medical devices for cardiovascular, neuroscience, diabetes, and surgical care.

At risk

$0

Moat

82.0/10

Decentral.

31.0/10

Share challenged

0.0%

Mondelez International

Mondelez International is a global snack company selling biscuits, baked snacks, chocolate, gum, candy, powdered beverages, and snack bars through brands such as Oreo, Cadbury, Ritz, Milka, Toblerone, and CLIF.

At risk

$0

Moat

82.0/10

Decentral.

48.0/10

Share challenged

0.0%

NextEra Energy

NextEra Energy is a U.S. electric utility and energy infrastructure company built around Florida Power & Light and large-scale clean-energy development through NextEra Energy Resources.

At risk

$0

Moat

88.0/10

Decentral.

42.0/10

Share challenged

0.0%

Norfolk Southern

Norfolk Southern operates a freight railroad network serving merchandise, intermodal, coal, automotive, and industrial customers in the eastern United States.

At risk

$0

Moat

88.0/10

Decentral.

22.0/10

Share challenged

0.0%

Northrop Grumman

Northrop Grumman develops aerospace, defense, space, cyber, and mission systems for primarily government customers.

At risk

$0

Moat

91.0/10

Decentral.

24.0/10

Share challenged

0.0%

NXP Semiconductors

NXP Semiconductors designs and sells mixed-signal and embedded processors, microcontrollers, connectivity, security, and analog products for automotive, industrial, mobile, communications, and infrastructure markets.

At risk

$0

Moat

82.0/10

Decentral.

38.0/10

Share challenged

0.0%

Parker-Hannifin

Parker-Hannifin makes motion and control technologies for industrial and aerospace markets.

At risk

$0

Moat

82.0/10

Decentral.

48.0/10

Share challenged

0.0%

Pfizer

Pfizer develops, manufactures, and sells prescription medicines, vaccines, and oncology therapies worldwide.

At risk

$0

Moat

86.0/10

Decentral.

22.0/10

Share challenged

0.0%

PNC Financial Services Group

PNC Financial Services Group provides retail banking, corporate and institutional banking, asset management, and related financial services in the United States.

At risk

$0

Moat

78.0/10

Decentral.

38.0/10

Share challenged

0.0%

Progressive

Progressive provides personal and commercial auto insurance and other property and casualty insurance products.

At risk

$0

Moat

78.0/10

Decentral.

32.0/10

Share challenged

0.0%

Prologis

Prologis is an industrial REIT focused on logistics real estate and adjacent energy, mobility, and operations services for supply-chain customers.

At risk

$0

Moat

83.0/10

Decentral.

31.0/10

Share challenged

0.0%

Qualcomm

Qualcomm designs wireless semiconductor platforms, modem-RF systems, processors, and licensing technologies for mobile, automotive, IoT, edge AI, and connected computing devices.

At risk

$0

Moat

86.0/10

Decentral.

32.0/10

Share challenged

0.0%

S&P Global

S&P Global provides credit ratings, benchmarks, analytics, and financial market data for capital, commodity, and automotive markets.

At risk

$0

Moat

92.0/10

Decentral.

36.0/10

Share challenged

0.0%

ServiceNow

ServiceNow provides cloud-based workflow automation, IT service management, and AI-enabled enterprise operations software.

At risk

$0

Moat

82.0/10

Decentral.

38.0/10

Share challenged

0.0%

Sherwin-Williams

Sherwin-Williams develops, manufactures, distributes, and sells paints, coatings, stains, finishes, and related products for professional, industrial, commercial, and retail customers.

At risk

$0

Moat

82.0/10

Decentral.

28.0/10

Share challenged

0.0%

SLB

SLB provides technology, equipment, software, and services for oil and gas exploration, drilling, production, and energy operations.

At risk

$0

Moat

84.0/10

Decentral.

39.0/10

Share challenged

0.0%

Starbucks

Starbucks operates and licenses coffeehouses and sells coffee, tea, beverages, food, packaged coffee, and ready-to-drink products worldwide.

At risk

$0

Moat

78.0/10

Decentral.

61.0/10

Share challenged

0.0%

T-Mobile US

T-Mobile US is a wireless telecommunications company providing mobile voice, data, broadband, and related services in the United States.

At risk

$0

Moat

86.0/10

Decentral.

31.0/10

Share challenged

0.0%

Thermo Fisher Scientific

Thermo Fisher Scientific supplies analytical instruments, laboratory equipment, reagents, consumables, software, and services for science and health care customers.

At risk

$0

Moat

82.0/10

Decentral.

34.0/10

Share challenged

0.0%

Trane Technologies

Trane Technologies makes heating, ventilation, air conditioning, refrigeration, building automation, and transport temperature-control systems through brands including Trane and Thermo King.

At risk

$0

Moat

82.0/10

Decentral.

42.0/10

Share challenged

0.0%

Uber Technologies

Uber Technologies operates global mobility, delivery, and freight marketplace platforms that connect consumers, earners, merchants, and shippers.

At risk

$0

Moat

82.0/10

Decentral.

61.0/10

Share challenged

0.0%

Waste Management

Waste Management provides waste collection, recycling, landfill, transfer, environmental, and renewable energy services across North America.

At risk

$0

Moat

88.0/10

Decentral.

38.0/10

Share challenged

0.0%

Wells Fargo

Wells Fargo is a U.S. diversified bank offering consumer banking, commercial banking, corporate banking, investment banking, and wealth management services.

At risk

$0

Moat

86.0/10

Decentral.

31.0/10

Share challenged

0.0%

Western Digital

Western Digital develops and sells hard-disk storage devices and data-center storage platforms after separating its flash business into Sandisk.

At risk

$0

Moat

82.0/10

Decentral.

34.0/10

Share challenged

0.0%

Williams Companies

Williams Companies owns and operates major U.S. natural gas transmission, gathering, processing, storage, and midstream infrastructure.

At risk

$0

Moat

86.0/10

Decentral.

31.0/10

Share challenged

0.0%

Free The World

Built as a research surface for tracking how AI, open source, Bitcoin rails, and distributed manufacturing steadily make legacy pricing models look like an elaborate historical accident.

Early-2026 public-source snapshot

Open source on GitHub

Commit 2970904 ·