Portfolio — Q1 2026
Reported Book
$13.7B
13F value · +148% QoQ
Positions
42
+13 vs Q4 2025
Top 10
72.7%
of reported book
In Dimetrics Coverage
83.6%
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
Puts 61.9%
Long 28.2%
Calls 10.0%
Puts $8.5B· 11 lines
Long $3.9B· 26 lines
Calls $1.4B· 5 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
Custom Silicon
27.3%
$3.7B
Memory
15.5%
$2.1B
Lithography & Fab Tools
10.2%
$1.4B
Neo-Clouds
8.3%
$1.1B
Hyperscalers
7.8%
$1.1B
Power Shells
7.5%
$1.0B
AI Merchant Power
6.8%
$934.1M
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 — 42 positions
| Ticker | Security | Line | Value | Weight | Group | Coverage |
|---|---|---|---|---|---|---|
| SMH | VANECK ETF TRUST | Put | $2.0B | 14.94% | — | Outside |
| NVDA | NVIDIA CORPORATION | Put | $1.6B | 11.47% | Custom Silicon | Covered |
| ORCL | ORACLE CORP | Put | $1.1B | 7.84% | Hyperscalers | Covered |
| AVGO | BROADCOM INC | Put | $1.0B | 7.36% | Custom Silicon | Covered |
| AMD | ADVANCED MICRO DEVICES INC | Put | $969.2M | 7.09% | Custom Silicon | Covered |
| BE | BLOOM ENERGY CORP | Long | $878.7M | 6.42% | AI Merchant Power | Covered |
| SNDK | SANDISK CORP | Long | $724.4M | 5.30% | Memory | Covered |
| MU | MICRON TECHNOLOGY INC | Put | $583.7M | 4.27% | Memory | Covered |
| CRWV | COREWEAVE INC | Long | $556.1M | 4.07% | Neo-Clouds | Covered |
| TSM | TAIWAN SEMICONDUCTOR MANUFAC | Put | $535.1M | 3.91% | Lithography & Fab Tools | Covered |
| ASML | ASML HLDG NV N Y REGISTRY | Put | $494.1M | 3.61% | Lithography & Fab Tools | Covered |
| MU | MICRON TECHNOLOGY INC | Call | $422.3M | 3.09% | Memory | Covered |
| IREN | IREN LIMITED | Long | $401.0M | 2.93% | Neo-Clouds | Covered |
| CORZ | CORE SCIENTIFIC INC NEW | Long | $389.1M | 2.84% | Power Shells | Covered |
| SNDK | SANDISK CORP | Call | $388.8M | 2.84% | Memory | Covered |
| TSM | TAIWAN SEMICONDUCTOR MANUFAC | Call | $354.8M | 2.59% | Lithography & Fab Tools | Covered |
| APLD | APPLIED DIGITAL CORP | Long | $320.0M | 2.34% | Power Shells | Covered |
| INTC | INTEL CORP | Put | $159.1M | 1.16% | Custom Silicon | Covered |
| RIOT | RIOT PLATFORMS INC | Long | $142.2M | 1.04% | Power Shells | Covered |
| CRWV | COREWEAVE INC | Call | $140.6M | 1.03% | Neo-Clouds | Covered |
| CLSK | CLEANSPARK INC | Long | $104.5M | 0.76% | Power Shells | Covered |
| SEI | SOLARIS ENERGY INFRAS INC | Long | $62.5M | 0.46% | — | Outside |
| BE | BLOOM ENERGY CORP | Call | $55.3M | 0.40% | AI Merchant Power | Covered |
| TE | T1 ENERGY INC | Long | $43.9M | 0.32% | — | Outside |
| KEEL | BITFARMS LTD | Long | $38.8M | 0.28% | Power Shells | Covered |
| BTDR | BITDEER TECHNOLOGIES GROUP | Long | $29.8M | 0.22% | Power Shells | Covered |
| PSIX | POWER SOLUTIONS INTL INC | Long | $26.3M | 0.19% | — | Outside |
| GLW | CORNING INC | Put | $21.0M | 0.15% | — | Outside |
| WYFI | WHITEFIBER INC | Long | $20.9M | 0.15% | Neo-Clouds | Covered |
| AMD | ADVANCED MICRO DEVICES INC | Long | $20.2M | 0.15% | Custom Silicon | Covered |
| BW | BABCOCK & WILCOX ENTERPRISES | Long | $19.9M | 0.15% | — | Outside |
| SHAZ | SHARONAI HOLDINGS INC | Long | $18.1M | 0.13% | Neo-Clouds | Covered |
| PUMP | PROPETRO HLDG CORP | Long | $13.1M | 0.10% | — | Outside |
| SMH | VANECK ETF TRUST | Long | $10.3M | 0.08% | — | Outside |
| INTC | INTEL CORP | Long | $8.9M | 0.07% | Custom Silicon | Covered |
| TSM | TAIWAN SEMICONDUCTOR MANUFAC | Long | $7.6M | 0.06% | Lithography & Fab Tools | Covered |
| INFY | INFOSYS LTD | Put | $6.8M | 0.05% | — | Outside |
| HIVE | HIVE DIGITAL TECHNOLOGIES LT | Long | $6.4M | 0.05% | Power Shells | Covered |
| ASML | ASML HLDG NV N Y REGISTRY | Long | $6.1M | 0.04% | Lithography & Fab Tools | Covered |
| MU | MICRON TECHNOLOGY INC | Long | $5.9M | 0.04% | Memory | Covered |
| GLW | CORNING INC | Long | $718.3K | 0.01% | — | Outside |
| NVDA | NVIDIA CORPORATION | Long | $497.9K | 0.00% | Custom Silicon | Covered |
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.