Forge Thematic Baskets

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Thematic Basket Performance

Time Range:

Compare:

Aerospace & Defense

Artificial Intelligence

Chips

Consumer

Fintech

Forge Accuidity Private Market Index

Returns	3M	YTD	1Y
Aerospace & Defense	6.5%	37.7%	171.0%
Artificial Intelligence	33.1%	51.7%	168.8%
Chips	153.9%	330.7%	403.4%
Consumer	-9.0%	4.5%	23.9%
Fintech	7.1%	22.1%	58.1%
Forge Accuidity Private Market Index	14.1%	29.4%	61.4%

Focused views into key private market themes. Designed for research and analytical purposes, offers targeted insight into high-growth industries and secondary market activity.

Explore The Private Market

Artificial Intelligence
Artificial intelligence infrastructure, applications and enablement platforms shaping enterprise and consumer markets.
Aerospace & Defense
Private companies developing advanced aerospace systems, defense technologies, autonomy and national security infrastructure.
Chips
Semiconductor companies driving compute, fabrication and next-generation hardware innovation.
Consumer
High-growth consumer brands and platforms transforming retail, commerce and customer engagement.
Fintech
Financial technology companies modernizing payments, lending, financial infrastructure and capital markets.

Companies by Forge Thematic Basket

Basket

Company	Basket	Sector & Subsector	Weight	Return QTD	Return YTD
SpaceX	Aerospace & Defense	Industrial Aerospace & Defense	44.47%	5%	53%
Anduril	Aerospace & Defense	Industrial Aerospace & Defense	31.87%	2%	10%
Shield AI	Aerospace & Defense	Industrial Aerospace & Defense	11.32%	4%	83%
Saronic	Aerospace & Defense	Industrial Aerospace & Defense	8.11%	37%	54%
Stoke Space	Aerospace & Defense	Industrial Aerospace & Defense	3.18%	0%	56%
Epirus	Aerospace & Defense	Industrial Aerospace & Defense	1.05%	0%	0%
Anthropic	Artificial Intelligence	Enterprise Software Data Intelligence	27.95%	127%	116%
OpenAI	Artificial Intelligence	Enterprise Software Data Intelligence	19.03%	1%	47%
Databricks	Artificial Intelligence	Enterprise Software Data Intelligence	14.75%	15%	14%
Anduril	Artificial Intelligence	Industrial Aerospace & Defense	12.37%	2%	10%
Figure AI	Artificial Intelligence	Industrial Robotics	4.99%	0%	0%
Perplexity	Artificial Intelligence	Enterprise Software Data Intelligence	2.77%	-7%	-7%
Skild AI	Artificial Intelligence	Industrial Robotics	2.12%	1%	1%
SandboxAQ	Artificial Intelligence	Enterprise Software Data Intelligence	2.02%	171%	167%
Groq	Artificial Intelligence	Enterprise Software Data Intelligence	2.00%	0%	115%
Thinking Machines Lab	Artificial Intelligence	Enterprise Software Data Intelligence	1.94%	3%	3%
Shield AI	Artificial Intelligence	Industrial Aerospace & Defense	1.58%	4%	83%
Lambda	Artificial Intelligence	Enterprise Software Cloud / Networking Infrastructure	1.30%	-7%	19%
Saronic	Artificial Intelligence	Industrial Aerospace & Defense	1.13%	37%	54%
Glean	Artificial Intelligence	Enterprise Software Data Intelligence	0.96%	-15%	-22%
Replit	Artificial Intelligence	Enterprise Software Software Development	0.94%	-27%	30%
Zipline	Artificial Intelligence	Transportation Delivery services	0.91%	-5%	12%
Abridge	Artificial Intelligence	Healthcare Healthcare software	0.83%	0%	0%
Apptronik	Artificial Intelligence	Industrial Robotics	0.81%	-1%	4%
Lightmatter	Artificial Intelligence	Technology Hardware Computing hardware	0.71%	61%	57%
Nuro	Artificial Intelligence	Transportation Autonomous Vehicles	0.58%	0%	6%
Agility Robotics	Artificial Intelligence	Industrial Robotics	0.32%	0%	0%
PsiQuantum	Chips	Technology Hardware Computing hardware	41.96%	-10%	-5%
Lightmatter	Chips	Technology Hardware Computing hardware	39.39%	61%	57%
Ayar Labs	Chips	Technology Hardware Computing hardware	18.66%	0%	89%
Fanatics	Consumer	Consumer & Lifestyle Clothing, Fashion, Beauty & Apparel	19.15%	0%	0%
Discord	Consumer	Consumer & Lifestyle Social	17.44%	0%	17%
Epic Games	Consumer	Consumer & Lifestyle Gaming	15.86%	-17%	-17%
Zipline	Consumer	Transportation Delivery services	12.73%	-5%	12%
Whoop	Consumer	Consumer & Lifestyle Fitness	9.91%	-43%	53%
The Farmer's Dog	Consumer	FoodTech Food Products & Services	8.53%	-1%	0%
GrubMarket	Consumer	FoodTech Food Products & Services	5.82%	0%	0%
Olipop	Consumer	FoodTech Food Products & Services	2.99%	0%	0%
Eight Sleep	Consumer	Consumer & Lifestyle Home Products	2.95%	129%	18%
Thrive Market	Consumer	FoodTech Food Products & Services	2.37%	0%	5%
Turo	Consumer	Transportation Ridesharing	2.26%	-12%	-12%
Stripe	Fintech	FinTech Payments	33.87%	-1%	98%
Ramp	Fintech	FinTech Digital Banking	22.19%	30%	30%
Ripple	Fintech	FinTech Payments	13.60%	0%	-20%
Kraken	Fintech	FinTech Blockchain	9.36%	15%	-3%
Polymarket	Fintech	FinTech Blockchain	9.06%	-6%	15%
Mercury	Fintech	FinTech Digital Banking	3.68%	22%	22%
Upgrade	Fintech	FinTech Digital Banking	3.10%	0%	-30%
Addepar	Fintech	FinTech FinTech software	1.79%	-27%	-23%
Cross River Bank	Fintech	FinTech Digital Banking	1.20%	0%	0%
ConsenSys	Fintech	FinTech Blockchain	1.16%	10%	0%
Chainalysis	Fintech	FinTech Blockchain software	0.98%	-17%	-17%

FAQs

What is the difference between Forge’s private market indexes and Thematic Baskets?

While the Forge Private Market Index and the Forge Accuidity Private Market Index provide broad-based representations of the private market, Forge’s Thematic Baskets concentrate on distinct areas of innovation and capital formation.

How are companies selected for inclusion in a Thematic Basket?

Thematic Baskets are rules-based and constructed from companies that meet Forge’s liquidity and pricing standards.

To be included, a company must have:

Observable trading activity on the Forge marketplace
$1 billion minimum Forge Price valuation

Each basket contains a minimum of four companies to ensure meaningful sector representation.

Can I invest in a Forge Thematic Basket?

These baskets are not investable. They are designed to provide insights into select companies with observable trading activity and reliable pricing data on the Forge marketplace.

How can investors use the Thematic Baskets for private market research and analysis?

Built for research and market insights, Forge’s Thematic Baskets:

Provide focused insights to specific private market sectors
Leverage insights grounded in secondary market transaction data
Offer tools to track and analyze sector-level trends
Enable comparison and evaluation of individual company performance
Complement Forge’s broad-based private market indexes

Custom index solutions

Forge works with asset managers, index providers and financial data organizations to design and build custom private market indexes and models, leveraging Forge’s data, expertise and infrastructure.

Construction

Customizable private market solutions based on investment needs and designed with the same rigorous calculation and maintenance methodology as our core offerings.

Calculation and maintenance

End to end index production including periodic index calculations, corporate action handling, index reconstitution and rebalance.

Licensing and distribution

Technology infrastructure to generate and deliver index data for you to replicate Forge private market indexes in your investment products.

Learn More About Custom Index Solutions

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PLEASE READ THESE IMPORTANT LEGAL NOTICES & DISCLOSURES

Forge’s Thematic Baskets are intended for informational and research purposes only. They are not investible and do not represent any given investment product or portfolio.

Forge’s Thematic Baskets are custom calculations disseminated by Forge Data LLC (“Forge Data”) and each Thematic Basket is a mark of Forge Data. Forge’s Thematic Baskets may rely on a very limited number of trade and/or IOI inputs in their calculation. Forge’s Thematic Baskets are prepared and disseminated solely for informational purposes. While Forge has obtained information from sources it believes to be reliable, Forge does not perform an audit or undertake any duty of due diligence or independent verification of any information it receives. Forge does not guarantee the accuracy, completeness, timeliness, or availability of the thematic baskets, and are not responsible for any errors or omissions, regardless of the cause, or any results obtained from the use of the Thematic Baskets. Forge’s Thematic Baskets are derived from the performance and pricing activity of the underlying constituents based on secondary activity on the Forge platform and other private market trading platforms. Forge’s Thematic Baskets are not intended to, and does not necessarily, represent the market price of any securities (I.e., the price at which you could buy or sell such securities). Neither reference to company names, nor inclusion of companies in a Thematic Basket, implies any affiliation between Forge and that company, any endorsement or sponsorship by Forge of any company or vice versa, or any partnership, joint venture or other commercial relationship between Forge and any company. Rights with respect to any company marks referred to herein are owned by the company.

Any investment products managed by third-parties which seek to track the Thematic Baskets are not affiliated with Forge, and Forge and is not responsible for the approval of any investments, the management of, or the investment decisions with respect to any such third-party products. Forge makes no assurance that any such third-party investment products based on or underlying the Thematic Baskets will accurately track index performance or provide positive investment performance.

Investing in private company securities is not suitable for all investors, is highly speculative, is high risk, and investors should be prepared to withstand a total loss of their investment. Private company securities are highly illiquid and there is no guarantee that a market will develop for such securities. Each investment carries its own risks, and investors should conduct their own due diligence regarding the investment, including obtaining independent professional advice. Past performance is not indicative of future results. This is not a recommendation, offer, solicitation of an offer, or advice to buy or sell securities by Forge, nor an offer of brokerage services in any jurisdiction where Forge is not permitted to offer brokerage services.

Forge Price™ is calculated and disseminated by Forge Data LLC (“Forge Data”). All rights reserved. Forge Price™ is designed to reflect the up-to-date price performance of venture-backed, late-stage companies. Forge Price™ is determined based on a proprietary model incorporating the pricing inputs from primary founding round information and secondary market transactions, including indications of interest (IOIs).

Secondary market transactions are sourced from Forge Securities, a leading market platform, and data collected from other private market trading platforms. The Forge Price™ is a mark of Forge Data. The Forge Price™ is solely for informational purposes and is based upon information from sources believed to be reliable, however Forge Data makes no assurance as to the accuracy or reliability of this data. Forge Data is not an investment adviser and makes no representation regarding the advisability of investing in any asset or asset class. Private company securities are highly illiquid, and the Forge Price™ may rely on a very limited number of trade and/or IOI inputs in its calculation. Brokerage products and services are offered by Forge Securities, a registered broker-dealer and member FINRA/SIPC.

Neither reference to company names, nor calculation of Forge Price™ for a particular company(ies) implies any affiliation between Forge or its affiliates and any company, any endorsement or sponsorship of Forge or its affiliates by any company or vice versa, or any partnership, joint venture or other commercial relationship between Forge or its affiliates and any company. Rights with respect to any company marks referred to herein are, as between Forge and its affiliates and such company, owned by the company.