Portfolio — Q2 2025
Reported Book
$35.9B
13F value · +58% QoQ
Positions
70
+0 vs Q1 2025
Top 10
57.3%
of reported book
In Dimetrics Coverage
67.2%
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 $35.9B· 70 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
22.6%
$8.1B
Custom Silicon
12.2%
$4.4B
AI Grid & Power Equipment
10.2%
$3.7B
Neo-Clouds
8.1%
$2.9B
Lithography & Fab Tools
7.9%
$2.9B
AI Merchant Power
5.6%
$2.0B
EDA & Chip Design IP
0.6%
$218.2M
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 — 70 positions
| Ticker | Security | Line | Value | Weight | Group | Coverage |
|---|---|---|---|---|---|---|
| CRWV | COREWEAVE INC | Long | $2.9B | 8.08% | Neo-Clouds | Covered |
| META | META PLATFORMS INC | Long | $2.7B | 7.57% | Hyperscalers | Covered |
| AMZN | AMAZON COM INC | Long | $2.2B | 6.21% | Hyperscalers | Covered |
| GEV | GE VERNOVA INC | Long | $2.0B | 5.54% | AI Grid & Power Equipment | Covered |
| MSFT | MICROSOFT CORP | Long | $2.0B | 5.45% | Hyperscalers | Covered |
| CEG | CONSTELLATION ENERGY CORP | Long | $1.9B | 5.33% | AI Merchant Power | Covered |
| TSM | TAIWAN SEMICONDUCTOR MFG LTD | Long | $1.8B | 5.09% | Lithography & Fab Tools | Covered |
| NVDA | NVIDIA CORPORATION | Long | $1.8B | 5.06% | Custom Silicon | Covered |
| ETN | EATON CORP PLC | Long | $1.7B | 4.66% | AI Grid & Power Equipment | Covered |
| AVGO | BROADCOM INC | Long | $1.6B | 4.34% | Custom Silicon | Covered |
| SPOT | SPOTIFY TECHNOLOGY S A | Long | $1.2B | 3.40% | — | Outside |
| LRCX | LAM RESEARCH CORP | Long | $1.0B | 2.85% | Lithography & Fab Tools | Covered |
| RDDT | REDDIT INC | Long | $934.9M | 2.60% | — | Outside |
| ORCL | ORACLE CORP | Long | $843.3M | 2.35% | Hyperscalers | Covered |
| NFLX | NETFLIX INC | Long | $828.6M | 2.31% | — | Outside |
| INTU | INTUIT | Long | $823.9M | 2.30% | — | Outside |
| ARM | ARM HOLDINGS PLC | Long | $749.4M | 2.09% | Custom Silicon | Covered |
| NU | NU HLDGS LTD | Long | $664.6M | 1.85% | — | Outside |
| TSLA | TESLA INC | Long | $647.1M | 1.80% | — | Outside |
| APP | APPLOVIN CORP | Long | $635.7M | 1.77% | — | Outside |
| CVNA | CARVANA CO | Long | $606.5M | 1.69% | — | Outside |
| DASH | DOORDASH INC | Long | $539.1M | 1.50% | — | Outside |
| PYPL | PAYPAL HLDGS INC | Long | $518.1M | 1.44% | — | Outside |
| KKR | KKR & CO INC | Long | $499.5M | 1.39% | — | Outside |
| TEAM | ATLASSIAN CORPORATION | Long | $468.7M | 1.31% | — | Outside |
| FCNCA | FIRST CTZNS BANCSHARES INC N | Long | $412.8M | 1.15% | — | Outside |
| ISRG | INTUITIVE SURGICAL INC | Long | $400.8M | 1.12% | — | Outside |
| CHYM | CHIME FINL INC | Long | $373.5M | 1.04% | — | Outside |
| GOOGL | ALPHABET INC | Long | $354.3M | 0.99% | Hyperscalers | Covered |
| CAI | CARIS LIFE SCIENCES INC | Long | $271.0M | 0.75% | — | Outside |
| HNGE | HINGE HEALTH INC | Long | $243.3M | 0.68% | — | Outside |
| PM | PHILIP MORRIS INTL INC | Long | $236.5M | 0.66% | — | Outside |
| ADBE | ADOBE INC | Long | $236.2M | 0.66% | — | Outside |
| CDNS | CADENCE DESIGN SYSTEM INC | Long | $218.2M | 0.61% | EDA & Chip Design IP | Covered |
| AMD | ADVANCED MICRO DEVICES INC | Long | $217.1M | 0.60% | Custom Silicon | Covered |
| CHA | CHAGEE HLDGS LTD | Long | $161.2M | 0.45% | — | Outside |
| BULL | WEBULL CORP | Long | $136.9M | 0.38% | — | Outside |
| SE | SEA LTD | Long | $106.6M | 0.30% | — | Outside |
| BABA | ALIBABA GROUP HLDG LTD | Long | $98.4M | 0.27% | — | Outside |
| SWKS | SKYWORKS SOLUTIONS INC | Long | $94.9M | 0.26% | — | Outside |
| VST | VISTRA CORP | Long | $92.3M | 0.26% | AI Merchant Power | Covered |
| LLY | ELI LILLY & CO | Long | $91.5M | 0.25% | — | Outside |
| TTD | THE TRADE DESK INC | Long | $71.9M | 0.20% | — | Outside |
| PINS | PINTEREST INC | Long | $60.2M | 0.17% | — | Outside |
| UPST | UPSTART HLDGS INC | Long | $56.3M | 0.16% | — | Outside |
| Z | ZILLOW GROUP INC | Long | $51.8M | 0.14% | — | Outside |
| MRVL | MARVELL TECHNOLOGY INC | Long | $46.6M | 0.13% | Custom Silicon | Covered |
| MPT | MEDICAL PPTYS TRUST INC | Long | $39.0M | 0.11% | — | Outside |
| ENPH | ENPHASE ENERGY INC | Long | $33.5M | 0.09% | — | Outside |
| GNRC | GENERAC HLDGS INC | Long | $31.0M | 0.09% | — | Outside |
| PATH | UIPATH INC | Long | $29.1M | 0.08% | — | Outside |
| QS | QUANTUMSCAPE CORP | Long | $28.9M | 0.08% | — | Outside |
| NVAX | NOVAVAX INC | Long | $24.2M | 0.07% | — | Outside |
| ZG | ZILLOW GROUP INC | Long | $22.5M | 0.06% | — | Outside |
| PTON | PELOTON INTERACTIVE INC | Long | $17.4M | 0.05% | — | Outside |
| RNG | RINGCENTRAL INC | Long | $11.7M | 0.03% | — | Outside |
| YUMC | YUM CHINA HLDGS INC | Long | $10.3M | 0.03% | — | Outside |
| LX | LEXINFINTECH HLDGS LTD | Long | $10.1M | 0.03% | — | Outside |
| — | LUCID GROUP INC | Long | $6.2M | 0.02% | — | Outside |
| PLUG | PLUG POWER INC | Long | $6.1M | 0.02% | — | Outside |
| MBLY | MOBILEYE GLOBAL INC | Long | $4.1M | 0.01% | — | Outside |
| IBIT | ISHARES BITCOIN TRUST ETF | Long | $3.5M | 0.01% | — | Outside |
| SFIX | STITCH FIX INC | Long | $2.9M | 0.01% | — | Outside |
| — | CHARGEPOINT HOLDINGS INC | Long | $2.2M | 0.01% | — | Outside |
| — | OLAPLEX HLDGS INC | Long | $1.8M | 0.00% | — | Outside |
| HTZWW | HERTZ GLOBAL HLDGS INC | Long | $1.7M | 0.00% | — | Outside |
| BYND | BEYOND MEAT INC | Long | $1.2M | 0.00% | — | Outside |
| HTZ | HERTZ GLOBAL HLDGS INC | Long | $729.6K | 0.00% | — | Outside |
| AMC | AMC ENTMT HLDGS INC | Long | $707.2K | 0.00% | — | Outside |
| API | AGORA INC | Long | $357.0K | 0.00% | — | 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.