Portfolio — Q2 2025
Reported Book
$6.9B
13F value · +39% QoQ
Positions
18
-4 vs Q1 2025
Top 10
85.9%
of reported book
In Dimetrics Coverage
57.6%
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 $6.9B· 18 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
32.2%
$2.2B
Custom Silicon
21.0%
$1.5B
Lithography & Fab Tools
2.8%
$196.4M
Neo-Clouds
1.5%
$105.9M
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 — 18 positions
| Ticker | Security | Line | Value | Weight | Group | Coverage |
|---|---|---|---|---|---|---|
| META | META PLATFORMS INC | Long | $1.4B | 19.99% | Hyperscalers | Covered |
| NVDA | NVIDIA CORPORATION | Long | $1.3B | 18.81% | Custom Silicon | Covered |
| SNOW | SNOWFLAKE INC | Long | $632.3M | 9.12% | — | Outside |
| UBER | UBER TECHNOLOGIES INC | Long | $555.4M | 8.01% | — | Outside |
| MSFT | MICROSOFT CORP | Long | $526.3M | 7.59% | Hyperscalers | Covered |
| — | CONFLUENT INC | Long | $387.7M | 5.59% | — | Outside |
| CPNG | COUPANG INC | Long | $342.5M | 4.94% | — | Outside |
| AMZN | AMAZON COM INC | Long | $321.4M | 4.64% | Hyperscalers | Covered |
| HOOD | ROBINHOOD MKTS INC | Long | $303.9M | 4.38% | — | Outside |
| TSM | TAIWAN SEMICONDUCTOR MFG LTD | Long | $196.4M | 2.83% | Lithography & Fab Tools | Covered |
| CART | MAPLEBEAR INC | Long | $190.8M | 2.75% | — | Outside |
| Z | ZILLOW GROUP INC | Long | $167.3M | 2.41% | — | Outside |
| ARM | ARM HOLDINGS PLC | Long | $150.9M | 2.18% | Custom Silicon | Covered |
| MELI | MERCADOLIBRE INC | Long | $121.6M | 1.76% | — | Outside |
| IOT | SAMSARA INC | Long | $119.0M | 1.72% | — | Outside |
| DDOG | DATADOG INC | Long | $118.4M | 1.71% | — | Outside |
| CRWV | COREWEAVE INC | Long | $105.9M | 1.53% | Neo-Clouds | Covered |
| — | GRAB HOLDINGS LIMITED | Long | $1.4M | 0.02% | — | 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.