Portfolio — Q2 2025
Reported Book
$7.2B
13F value · +25% QoQ
Positions
42
+10 vs Q1 2025
Top 10
57.6%
of reported book
In Dimetrics Coverage
32.6%
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
Long 100.0%
Long $7.2B· 42 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
14.1%
$1.0B
Hyperscalers
12.6%
$905.9M
Photonics
2.2%
$157.9M
Lithography & Fab Tools
1.9%
$137.2M
Liquid Cooling
1.2%
$84.4M
AI Merchant Power
0.7%
$48.6M
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 |
|---|---|---|---|---|---|---|
| CLS | CELESTICA INC | Long | $724.2M | 10.05% | — | Outside |
| NVDA | NVIDIA CORPORATION | Long | $567.4M | 7.87% | Custom Silicon | Covered |
| META | META PLATFORMS INC | Long | $459.1M | 6.37% | Hyperscalers | Covered |
| AVGO | BROADCOM INC | Long | $451.3M | 6.26% | Custom Silicon | Covered |
| APP | APPLOVIN CORP | Long | $428.7M | 5.95% | — | Outside |
| RBLX | ROBLOX CORP | Long | $361.0M | 5.01% | — | Outside |
| AMZN | AMAZON COM INC | Long | $349.5M | 4.85% | Hyperscalers | Covered |
| NFLX | NETFLIX INC | Long | $339.1M | 4.70% | — | Outside |
| NU | NU HLDGS LTD | Long | $244.8M | 3.40% | — | Outside |
| DKNG | DRAFTKINGS INC NEW | Long | $229.0M | 3.18% | — | Outside |
| SE | SEA LTD | Long | $225.4M | 3.13% | — | Outside |
| DUOL | DUOLINGO INC | Long | $200.4M | 2.78% | — | Outside |
| CVNA | CARVANA CO | Long | $196.4M | 2.72% | — | Outside |
| FN | FABRINET | Long | $186.9M | 2.59% | — | Outside |
| SMTC | SEMTECH CORP | Long | $180.2M | 2.50% | — | Outside |
| MELI | MERCADOLIBRE INC | Long | $163.5M | 2.27% | — | Outside |
| TSM | TAIWAN SEMICONDUCTOR MFG LTD | Long | $137.2M | 1.90% | Lithography & Fab Tools | Covered |
| KVYO | KLAVIYO INC | Long | $123.7M | 1.72% | — | Outside |
| CPNG | COUPANG INC | Long | $106.6M | 1.48% | — | Outside |
| MNDY | MONDAY COM LTD | Long | $103.6M | 1.44% | — | Outside |
| TTMI | TTM TECHNOLOGIES INC | Long | $98.9M | 1.37% | — | Outside |
| GLW | CORNING INC | Long | $98.6M | 1.37% | — | Outside |
| PI | IMPINJ INC | Long | $98.4M | 1.37% | — | Outside |
| MSFT | MICROSOFT CORP | Long | $97.3M | 1.35% | Hyperscalers | Covered |
| COHR | COHERENT CORP | Long | $89.9M | 1.25% | Photonics | Covered |
| AFRM | AFFIRM HLDGS INC | Long | $88.2M | 1.22% | — | Outside |
| MDB | MONGODB INC | Long | $88.1M | 1.22% | — | Outside |
| SITM | SITIME CORP | Long | $85.8M | 1.19% | — | Outside |
| VRT | VERTIV HOLDINGS CO | Long | $84.4M | 1.17% | Liquid Cooling | Covered |
| HUBS | HUBSPOT INC | Long | $83.1M | 1.15% | — | Outside |
| FROG | JFROG LTD | Long | $75.2M | 1.04% | — | Outside |
| INTU | INTUIT | Long | $68.7M | 0.95% | — | Outside |
| CIEN | CIENA CORP | Long | $68.0M | 0.94% | Photonics | Covered |
| BE | BLOOM ENERGY CORP | Long | $48.6M | 0.67% | AI Merchant Power | Covered |
| CHYM | CHIME FINL INC | Long | $48.3M | 0.67% | — | Outside |
| OKTA | OKTA INC | Long | $43.5M | 0.60% | — | Outside |
| HPE | HEWLETT PACKARD ENTERPRISE C | Long | $39.0M | 0.54% | — | Outside |
| SLAB | SILICON LABORATORIES INC | Long | $36.6M | 0.51% | — | Outside |
| ENTG | ENTEGRIS INC | Long | $33.9M | 0.47% | — | Outside |
| SMCI | SUPER MICRO COMPUTER INC | Long | $27.3M | 0.38% | — | Outside |
| ALKT | ALKAMI TECHNOLOGY INC | Long | $20.1M | 0.28% | — | Outside |
| HNGE | HINGE HEALTH INC | Long | $9.0M | 0.12% | — | 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.