Ongoing research, analyst access and REPY Lab.
Solutions
From research to portfolio, on one foundation.
Each solution draws on the same structured view of companies. Engagements are scoped to the client's mandate, universe and reporting needs.
01
Research
Thematic and exposure research for portfolio managers and investment committees.
For
Request methodologyPortfolio managers, analysts and CIO offices at asset managers, wealth managers and family offices.
We study themes and value chains from the inside: which companies participate, in what role, and how much of their business depends on it. Our research is expanding from thematic exposure into the geographic, customer and supply-chain dependencies beneath it.
You get- Theme reports: definition, constituents, roles and revenue exposure
- Value-chain analysis: where each company sits and what it depends on
- Research candidates, each with the analysis behind it
- REPY Lab access and direct discussion with our researchers
Membership recordPhotonics · v5
- Company
- Corning Incorporated GLW
- As of
- 31 July 2026
- Customers
- Telecommunications carriers and enterprise network operators, including hyperscale data centres
- Source
manufactures carrier network and enterprise network components for the telecommunications industry
Annual report, Note 18 · 12 February 2026- Revenue
- Optical Communications: $6,274m of $15,629m net sales in FY2025, or 40.1%
- Decision
- Member · Quasi-play, 20–50% of revenue
02
Custom models
Our research and our view, engineered into a model for your mandate.
For
Request methodologyProduct teams at ETF issuers, index and model-portfolio providers, and managers running mandates.
We translate a mandate into a defined universe, selection rules and weighting, combining thematic exposure with factor and fundamental signals. Every model is validated before delivery and maintained as its underlying companies change.
You get- A written model specification, agreed with you
- The constituent universe, with the rationale for each inclusion
- Selection, weighting and rebalancing rules
- A validation report covering construction, trading costs and robustness
- Ongoing maintenance, with every change documented
Model specificationIllustrative
- Mandate
- Thematic equity, long only
- Universe
- Theme constituents, quasi-play tier and above
- Selection
- Revenue exposure, with quality and momentum signals
- Weighting
- Exposure-weighted, with a single-name cap
- Rebalance
- Quarterly
- Validation
- Historical simulation with trading costs and robustness tests
- Governance
- Versioned, with every change documented
An illustrative specification. Each model is defined with the client.
03
Fund & ETF look-through
An independent view of what a fund holds, and how closely it matches its mandate.
For
Request methodologyFund selectors, manager research teams, investment consultants and allocators. Also issuers benchmarking their products against competitors'.
Fund labels describe intent. We assess every holding against a rigorous definition of the theme, distinguishing genuine participants from customers, adjacent businesses and unrelated companies, and measure the fund's true exposure.
You get- Holding-level classification, with the rationale for each
- Revenue-weighted exposure against the fund's stated theme
- Overlap and concentration across funds
- Monitoring of drift as holdings and companies change
Fund look-throughIllustrative
Fund labelPhotonics
- Members 52%
- Customers of the theme 33%
- Unrelated 15%
| Holding | Classification | Theme revenue |
|---|---|---|
| Optical components maker | Member | 72% |
| Network equipment maker | Customer | — |
| Test equipment maker | Unrelated | — |
Illustrative output. The fund and its figures are hypothetical.
Engagements
How engagements work
Engagements are scoped and priced individually.
Subscription
Project
A defined deliverable, such as a fund review or a model, fully documented.
Licence
A custom model or dataset, maintained and supported over time.
Methodology
Request methodologyOur methodology is available to institutional investors on request.
It covers how we define themes and exposures, how judgements are made and reviewed, and how models are constructed and validated.