Portfolio — Q3 2025
Reported Book
$40.8B
13F value · +14% QoQ
Positions
74
+4 vs Q2 2025
Top 10
51.4%
of reported book
In Dimetrics Coverage
67.7%
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 $40.8B· 74 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
26.7%
$10.9B
Custom Silicon
10.9%
$4.4B
Lithography & Fab Tools
10.5%
$4.3B
AI Grid & Power Equipment
9.9%
$4.0B
AI Merchant Power
4.9%
$2.0B
EDA & Chip Design IP
2.6%
$1.1B
Neo-Clouds
2.3%
$920.3M
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 — 74 positions
| Ticker | Security | Line | Value | Weight | Group | Coverage |
|---|---|---|---|---|---|---|
| META | META PLATFORMS INC | Long | $3.0B | 7.27% | Hyperscalers | Covered |
| MSFT | MICROSOFT CORP | Long | $2.4B | 5.90% | Hyperscalers | Covered |
| TSM | TAIWAN SEMICONDUCTOR MFG LTD | Long | $2.3B | 5.53% | Lithography & Fab Tools | Covered |
| GEV | GE VERNOVA INC | Long | $2.2B | 5.48% | AI Grid & Power Equipment | Covered |
| AMZN | AMAZON COM INC | Long | $1.9B | 4.71% | Hyperscalers | Covered |
| AVGO | BROADCOM INC | Long | $1.9B | 4.66% | Custom Silicon | Covered |
| CEG | CONSTELLATION ENERGY CORP | Long | $1.9B | 4.62% | AI Merchant Power | Covered |
| NVDA | NVIDIA CORPORATION | Long | $1.8B | 4.52% | Custom Silicon | Covered |
| ETN | EATON CORP PLC | Long | $1.8B | 4.40% | AI Grid & Power Equipment | Covered |
| GOOGL | ALPHABET INC | Long | $1.8B | 4.30% | Hyperscalers | Covered |
| APP | APPLOVIN CORP | Long | $1.6B | 4.00% | — | Outside |
| RDDT | REDDIT INC | Long | $1.4B | 3.33% | — | Outside |
| ORCL | ORACLE CORP | Long | $1.3B | 3.31% | Hyperscalers | Covered |
| LRCX | LAM RESEARCH CORP | Long | $1.3B | 3.27% | Lithography & Fab Tools | Covered |
| SPOT | SPOTIFY TECHNOLOGY S A | Long | $1.3B | 3.09% | — | Outside |
| CRWV | COREWEAVE INC | Long | $920.3M | 2.26% | Neo-Clouds | Covered |
| SNPS | SYNOPSYS INC | Long | $892.6M | 2.19% | EDA & Chip Design IP | Covered |
| TSLA | TESLA INC | Long | $769.0M | 1.89% | — | Outside |
| NU | NU HLDGS LTD | Long | $757.3M | 1.86% | — | Outside |
| CVNA | CARVANA CO | Long | $755.7M | 1.85% | — | Outside |
| NFLX | NETFLIX INC | Long | $741.8M | 1.82% | — | Outside |
| AMAT | APPLIED MATLS INC | Long | $685.7M | 1.68% | Lithography & Fab Tools | Covered |
| DASH | DOORDASH INC | Long | $667.7M | 1.64% | — | Outside |
| INTU | INTUIT | Long | $573.3M | 1.41% | — | Outside |
| GOOGL | ALPHABET INC | Long | $509.4M | 1.25% | Hyperscalers | Covered |
| SNOW | SNOWFLAKE INC | Long | $441.3M | 1.08% | — | Outside |
| FCNCA | FIRST CTZNS BANCSHARES INC D | Long | $361.9M | 0.89% | — | Outside |
| BABA | ALIBABA GROUP HLDG LTD | Long | $356.9M | 0.87% | — | Outside |
| PYPL | PAYPAL HLDGS INC | Long | $351.3M | 0.86% | — | Outside |
| TEAM | ATLASSIAN CORPORATION | Long | $331.7M | 0.81% | — | Outside |
| ARM | ARM HOLDINGS PLC | Long | $319.7M | 0.78% | Custom Silicon | Covered |
| ISRG | INTUITIVE SURGICAL INC | Long | $317.8M | 0.78% | — | Outside |
| CAI | CARIS LIFE SCIENCES INC | Long | $306.8M | 0.75% | — | Outside |
| KKR | KKR & CO INC | Long | $289.9M | 0.71% | — | Outside |
| HNGE | HINGE HEALTH INC | Long | $230.8M | 0.57% | — | Outside |
| CHYM | CHIME FINL INC | Long | $216.1M | 0.53% | — | Outside |
| ADBE | ADOBE INC | Long | $215.4M | 0.53% | — | Outside |
| AMD | ADVANCED MICRO DEVICES INC | Long | $200.5M | 0.49% | Custom Silicon | Covered |
| MRVL | MARVELL TECHNOLOGY INC | Long | $174.8M | 0.43% | Custom Silicon | Covered |
| BULL | WEBULL CORP | Long | $170.4M | 0.42% | — | Outside |
| FIG | FIGMA INC | Long | $167.7M | 0.41% | — | Outside |
| CDNS | CADENCE DESIGN SYSTEM INC | Long | $165.9M | 0.41% | EDA & Chip Design IP | Covered |
| SE | SEA LTD | Long | $119.1M | 0.29% | — | Outside |
| CHA | CHAGEE HLDGS LTD | Long | $102.2M | 0.25% | — | Outside |
| VST | VISTRA CORP | Long | $100.5M | 0.25% | AI Merchant Power | Covered |
| SWKS | SKYWORKS SOLUTIONS INC | Long | $98.0M | 0.24% | — | Outside |
| TTD | THE TRADE DESK INC | Long | $68.0M | 0.17% | — | Outside |
| ENPH | ENPHASE ENERGY INC | Long | $58.3M | 0.14% | — | Outside |
| Z | ZILLOW GROUP INC | Long | $57.0M | 0.14% | — | Outside |
| PINS | PINTEREST INC | Long | $54.0M | 0.13% | — | Outside |
| QS | QUANTUMSCAPE CORP | Long | $52.9M | 0.13% | — | Outside |
| MPT | MEDICAL PPTYS TRUST INC | Long | $45.9M | 0.11% | — | Outside |
| UPST | UPSTART HLDGS INC | Long | $44.2M | 0.11% | — | Outside |
| NVAX | NOVAVAX INC | Long | $33.3M | 0.08% | — | Outside |
| PATH | UIPATH INC | Long | $30.4M | 0.07% | — | Outside |
| NTRA | NATERA INC | Long | $27.4M | 0.07% | — | Outside |
| ZG | ZILLOW GROUP INC | Long | $24.4M | 0.06% | — | Outside |
| PTON | PELOTON INTERACTIVE INC | Long | $22.5M | 0.06% | — | Outside |
| KLAR | KLARNA GROUP PLC | Long | $12.1M | 0.03% | — | Outside |
| RNG | RINGCENTRAL INC | Long | $11.7M | 0.03% | — | Outside |
| PLUG | PLUG POWER INC | Long | $9.6M | 0.02% | — | Outside |
| JOYY | JOYY INC | Long | $9.1M | 0.02% | — | Outside |
| IBIT | ISHARES BITCOIN TRUST ETF | Long | $8.6M | 0.02% | — | Outside |
| LCID | LUCID GROUP INC | Long | $7.0M | 0.02% | — | Outside |
| FUTU | FUTU HLDGS LTD | Long | $4.2M | 0.01% | — | Outside |
| SFIX | STITCH FIX INC | Long | $3.4M | 0.01% | — | Outside |
| MBLY | MOBILEYE GLOBAL INC | Long | $3.2M | 0.01% | — | Outside |
| HTZWW | HERTZ GLOBAL HLDGS INC | Long | $1.7M | 0.00% | — | Outside |
| CHPT | CHARGEPOINT HOLDINGS INC | Long | $1.7M | 0.00% | — | Outside |
| — | OLAPLEX HLDGS INC | Long | $1.7M | 0.00% | — | Outside |
| HTZ | HERTZ GLOBAL HLDGS INC | Long | $726.4K | 0.00% | — | Outside |
| AMC | AMC ENTMT HLDGS INC | Long | $661.6K | 0.00% | — | Outside |
| BYND | BEYOND MEAT INC | Long | $649.0K | 0.00% | — | Outside |
| API | AGORA INC | Long | $357.9K | 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.