A lot of people are asking about who I include in my "Tier 1" SaaS names, so here it goes (this is similar to the set of "Secular Growth Stars" I wrote about in an article before Q2 earnings)

My Secular Growth Stars:
Crowdstrike, Datadog, Okta, Shopify, Twilio, Zoom

I believe these businesses are LEADERS in their category, operate in HUGE and GROWING markets, have a history of SUPERB EXECUTION, with GREAT EXECS. Overtime, as cloud penetration accelerates, I think each one of these businesses will be able to sustain growth rates 30%+ at scale

I believe this because now more than ever the leaders in categories are capturing way more market share (historically markets were more fragmented and didn't converge around a single "winner" like they do now). As markets expand, these leaders will take a disproportionate share

There's another tier of businesses that I put just shy of that elusive set of Secular Growth Stars that includes the following names. These are all phenomenal businesses as well

Agora
http://Bill.com 
Coupa
Docusign
Fastly

Disclaimer: I own every stock in secular growth tier, plus Agora and http://Bill.com . Fastly I probably always underestimated, and labeled them as "just a CDN" which clouded my judgement. Docusign feels obvious in hindsight, should have bought