Portfolio — Q3 2025
Reported Book
$7.6B
13F value · +9% QoQ
Positions
23
+5 vs Q2 2025
Top 10
81.9%
of reported book
In Dimetrics Coverage
63.0%
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 $7.6B· 23 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
33.3%
$2.5B
Custom Silicon
24.1%
$1.8B
Lithography & Fab Tools
3.9%
$298.5M
EDA & Chip Design IP
1.7%
$127.4M
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 — 23 positions
| Ticker | Security | Line | Value | Weight | Group | Coverage |
|---|---|---|---|---|---|---|
| NVDA | NVIDIA CORPORATION | Long | $1.4B | 18.81% | Custom Silicon | Covered |
| META | META PLATFORMS INC | Long | $1.4B | 18.07% | Hyperscalers | Covered |
| MSFT | MICROSOFT CORP | Long | $601.9M | 7.94% | Hyperscalers | Covered |
| SNOW | SNOWFLAKE INC | Long | $547.7M | 7.22% | — | Outside |
| UBER | UBER TECHNOLOGIES INC | Long | $547.5M | 7.22% | — | Outside |
| AMZN | AMAZON COM INC | Long | $475.9M | 6.28% | Hyperscalers | Covered |
| HOOD | ROBINHOOD MKTS INC | Long | $371.8M | 4.90% | — | Outside |
| CPNG | COUPANG INC | Long | $322.8M | 4.26% | — | Outside |
| TSM | TAIWAN SEMICONDUCTOR MFG LTD | Long | $298.5M | 3.94% | Lithography & Fab Tools | Covered |
| AVGO | BROADCOM INC | Long | $245.7M | 3.24% | Custom Silicon | Covered |
| — | CONFLUENT INC | Long | $223.4M | 2.95% | — | Outside |
| PDD | PDD HOLDINGS INC | Long | $181.3M | 2.39% | — | Outside |
| BABA | ALIBABA GROUP HLDG LTD | Long | $173.2M | 2.28% | — | Outside |
| Z | ZILLOW GROUP INC | Long | $168.5M | 2.22% | — | Outside |
| ARM | ARM HOLDINGS PLC | Long | $155.4M | 2.05% | Custom Silicon | Covered |
| SNPS | SYNOPSYS INC | Long | $127.4M | 1.68% | EDA & Chip Design IP | Covered |
| CART | MAPLEBEAR INC | Long | $122.2M | 1.61% | — | Outside |
| MELI | MERCADOLIBRE INC | Long | $88.4M | 1.17% | — | Outside |
| GOOGL | ALPHABET INC | Long | $76.1M | 1.00% | Hyperscalers | Covered |
| GEMI | GEMINI SPACE STA INC | Long | $38.3M | 0.51% | — | Outside |
| PTRN | PATTERN GROUP INC | Long | $9.9M | 0.13% | — | Outside |
| NTSK | NETSKOPE INC | Long | $7.4M | 0.10% | — | Outside |
| — | GRAB HOLDINGS LIMITED | Long | $1.8M | 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.