Portfolio — Q1 2025
Reported Book
$5.8B
13F value · -32% QoQ
Positions
32
-6 vs Q4 2024
Top 10
60.1%
of reported book
In Dimetrics Coverage
35.7%
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 $5.8B· 32 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
23.3%
$1.3B
Custom Silicon
7.7%
$441.9M
Lithography & Fab Tools
1.5%
$87.1M
Liquid Cooling
1.5%
$84.0M
AI Merchant Power
1.3%
$77.7M
Photonics
0.5%
$28.9M
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 — 32 positions
| Ticker | Security | Line | Value | Weight | Group | Coverage |
|---|---|---|---|---|---|---|
| CLS | CELESTICA INC | Long | $541.1M | 9.39% | — | Outside |
| APP | APPLOVIN CORP | Long | $487.3M | 8.46% | — | Outside |
| AMZN | AMAZON COM INC | Long | $480.1M | 8.33% | Hyperscalers | Covered |
| META | META PLATFORMS INC | Long | $390.8M | 6.78% | Hyperscalers | Covered |
| DUOL | DUOLINGO INC | Long | $281.7M | 4.89% | — | Outside |
| GOOGL | ALPHABET INC | Long | $268.0M | 4.65% | Hyperscalers | Covered |
| OKTA | OKTA INC | Long | $267.6M | 4.64% | — | Outside |
| FN | FABRINET | Long | $254.4M | 4.41% | — | Outside |
| NU | NU HLDGS LTD | Long | $250.5M | 4.35% | — | Outside |
| RBLX | ROBLOX CORP | Long | $244.0M | 4.23% | — | Outside |
| CVNA | CARVANA CO | Long | $240.6M | 4.17% | — | Outside |
| AVGO | BROADCOM INC | Long | $240.4M | 4.17% | Custom Silicon | Covered |
| DKNG | DRAFTKINGS INC NEW | Long | $202.6M | 3.52% | — | Outside |
| MSFT | MICROSOFT CORP | Long | $201.7M | 3.50% | Hyperscalers | Covered |
| NVDA | NVIDIA CORPORATION | Long | $201.5M | 3.50% | Custom Silicon | Covered |
| SMTC | SEMTECH CORP | Long | $136.0M | 2.36% | — | Outside |
| KVYO | KLAVIYO INC | Long | $131.0M | 2.27% | — | Outside |
| PI | IMPINJ INC | Long | $111.7M | 1.94% | — | Outside |
| HUBS | HUBSPOT INC | Long | $103.6M | 1.80% | — | Outside |
| MELI | MERCADOLIBRE INC | Long | $91.0M | 1.58% | — | Outside |
| TSM | TAIWAN SEMICONDUCTOR MFG LTD | Long | $87.1M | 1.51% | Lithography & Fab Tools | Covered |
| VRT | VERTIV HOLDINGS CO | Long | $84.0M | 1.46% | Liquid Cooling | Covered |
| WIX | WIX COM LTD | Long | $79.6M | 1.38% | — | Outside |
| BE | BLOOM ENERGY CORP | Long | $77.7M | 1.35% | AI Merchant Power | Covered |
| MDB | MONGODB INC | Long | $72.4M | 1.26% | — | Outside |
| MNDY | MONDAY COM LTD | Long | $46.7M | 0.81% | — | Outside |
| TOST | TOAST INC | Long | $46.4M | 0.80% | — | Outside |
| COMP | COMPASS INC | Long | $32.8M | 0.57% | — | Outside |
| HPE | HEWLETT PACKARD ENTERPRISE C | Long | $29.4M | 0.51% | — | Outside |
| MPWR | MONOLITHIC PWR SYS INC | Long | $29.1M | 0.50% | — | Outside |
| COHR | COHERENT CORP | Long | $28.9M | 0.50% | Photonics | Covered |
| PDD | PDD HOLDINGS INC | Long | $23.6M | 0.41% | — | 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.