Akros U.S. Heavy Assets Low Obsolescence (HALO) Index

The index targets U.S.-listed companies whose value is built on tangible physical assets, real-world operations, or long-established brand and infrastructure moats that AI cannot easily replicate. Starting from the top 3,000 NYSE and NASDAQ common stocks by market capitalisation, the universe is restricted to HALO-Eligible AICS sectors covering physical goods production, infrastructure and physical services, brand-anchored physical commerce, and tangible asset leasing. Companies in the bottom 30% by physical asset intensity (PP&E / Total Assets) are then removed. Remaining companies must pass the HALO Qualification Test, after which qualifiers are ranked by the NEXUS framework on four criteria: AI Displacement Immunity, Physical Value Anchoring, Generational Moat Durability, and Non-Physical Revenue Dilution. Final selection runs in three stages: a HALO Pool of up to 250 names (max 13 per AICS Level 1), value and quality screens on EV/EBITDA, OCF/Total Assets, and Net Debt/EBITDA, and the final 100 constituents picked by free-float market cap (max 10 per AICS Level 1). The 100 constituents are equally weighted and rebalanced quarterly.