Portfolio — Q1 2025
Reported Book
$5.0B
13F value · -10% QoQ
Positions
22
-2 vs Q4 2024
Top 10
86.6%
of reported book
In Dimetrics Coverage
52.0%
of reported book
Reported book is the value of 13F-reportable US positions as filed — not the manager's total assets under management, which include cash, debt, non-US and private holdings.
Book structure
Long 100.0%
Long $5.0B· 22 lines
Reported book structure — not net exposure. 13F reports options at the notional value of the underlying, with no strike, expiry, or premium. Delta is unknowable. This describes what was filed.
Reported book by group
PutsLongCallsNotes
Hyperscalers
32.6%
$1.6B
Custom Silicon
16.0%
$793.7M
Neo-Clouds
2.2%
$111.2M
AI Networking
1.2%
$58.6M
Filed value by group, split by line type. Option lines are shown at the notional value of the underlying — a put bar is not exposure to that group, it is a position filed against it.
Holdings — 22 positions
| Ticker | Security | Line | Value | Weight | Group | Coverage |
|---|---|---|---|---|---|---|
| META | META PLATFORMS INC | Long | $1.1B | 21.28% | Hyperscalers | Covered |
| NVDA | NVIDIA CORPORATION | Long | $775.0M | 15.59% | Custom Silicon | Covered |
| QQQ | INVESCO QQQ TR | Long | $463.3M | 9.32% | — | Outside |
| SNOW | SNOWFLAKE INC | Long | $430.8M | 8.67% | — | Outside |
| UBER | UBER TECHNOLOGIES INC | Long | $412.8M | 8.30% | — | Outside |
| MSFT | MICROSOFT CORP | Long | $366.0M | 7.36% | Hyperscalers | Covered |
| — | CONFLUENT INC | Long | $305.7M | 6.15% | — | Outside |
| AMZN | AMAZON COM INC | Long | $198.9M | 4.00% | Hyperscalers | Covered |
| CPNG | COUPANG INC | Long | $163.2M | 3.28% | — | Outside |
| CART | MAPLEBEAR INC | Long | $133.6M | 2.69% | — | Outside |
| FLUT | FLUTTER ENTMT PLC | Long | $125.9M | 2.53% | — | Outside |
| HOOD | ROBINHOOD MKTS INC | Long | $120.1M | 2.42% | — | Outside |
| CRWV | COREWEAVE INC | Long | $111.2M | 2.24% | Neo-Clouds | Covered |
| Z | ZILLOW GROUP INC | Long | $90.7M | 1.83% | — | Outside |
| BABA | ALIBABA GROUP HLDG LTD | Long | $71.5M | 1.44% | — | Outside |
| ALAB | ASTERA LABS INC | Long | $58.6M | 1.18% | AI Networking | Covered |
| RBRK | RUBRIK INC. | Long | $50.7M | 1.02% | — | Outside |
| ARM | ARM HOLDINGS PLC | Long | $18.8M | 0.38% | Custom Silicon | Covered |
| MELI | MERCADOLIBRE INC | Long | $6.4M | 0.13% | — | Outside |
| SAIL | SAILPOINT INC | Long | $4.7M | 0.09% | — | Outside |
| TTAN | SERVICETITAN INC | Long | $3.8M | 0.08% | — | Outside |
| — | GRAB HOLDINGS LIMITED | Long | $1.4M | 0.03% | — | Outside |
Shares and value as filed. Positions held with shared investment discretion are reported in full by each manager, so a filer's book can overlap another's.