Portfolio — Q3 2025
Reported Book
$8.5B
13F value · +18% QoQ
Positions
36
-6 vs Q2 2025
Top 10
56.9%
of reported book
In Dimetrics Coverage
38.9%
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 $8.5B· 36 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
15.2%
$1.3B
Custom Silicon
12.6%
$1.1B
AI Merchant Power
4.7%
$395.9M
Photonics
2.9%
$244.4M
Lithography & Fab Tools
2.4%
$203.0M
Liquid Cooling
1.1%
$96.5M
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 — 36 positions
| Ticker | Security | Line | Value | Weight | Group | Coverage |
|---|---|---|---|---|---|---|
| CLS | CELESTICA INC | Long | $737.5M | 8.68% | — | Outside |
| APP | APPLOVIN CORP | Long | $698.0M | 8.22% | — | Outside |
| NVDA | NVIDIA CORPORATION | Long | $594.5M | 7.00% | Custom Silicon | Covered |
| META | META PLATFORMS INC | Long | $536.0M | 6.31% | Hyperscalers | Covered |
| RBLX | ROBLOX CORP | Long | $515.2M | 6.07% | — | Outside |
| AVGO | BROADCOM INC | Long | $472.1M | 5.56% | Custom Silicon | Covered |
| BE | BLOOM ENERGY CORP | Long | $395.9M | 4.66% | AI Merchant Power | Covered |
| AMZN | AMAZON COM INC | Long | $317.8M | 3.74% | Hyperscalers | Covered |
| GOOGL | ALPHABET INC | Long | $284.5M | 3.35% | Hyperscalers | Covered |
| DUOL | DUOLINGO INC | Long | $279.4M | 3.29% | — | Outside |
| NFLX | NETFLIX INC | Long | $276.6M | 3.26% | — | Outside |
| SMTC | SEMTECH CORP | Long | $250.4M | 2.95% | — | Outside |
| FN | FABRINET | Long | $248.7M | 2.93% | — | Outside |
| PI | IMPINJ INC | Long | $221.3M | 2.61% | — | Outside |
| GLW | CORNING INC | Long | $215.1M | 2.53% | — | Outside |
| CVNA | CARVANA CO | Long | $214.2M | 2.52% | — | Outside |
| SE | SEA LTD | Long | $207.5M | 2.44% | — | Outside |
| TSM | TAIWAN SEMICONDUCTOR MFG LTD | Long | $203.0M | 2.39% | Lithography & Fab Tools | Covered |
| NU | NU HLDGS LTD | Long | $198.8M | 2.34% | — | Outside |
| CIEN | CIENA CORP | Long | $194.9M | 2.29% | Photonics | Covered |
| MDB | MONGODB INC | Long | $171.4M | 2.02% | — | Outside |
| MSFT | MICROSOFT CORP | Long | $155.6M | 1.83% | Hyperscalers | Covered |
| SITM | SITIME CORP | Long | $144.8M | 1.70% | — | Outside |
| MELI | MERCADOLIBRE INC | Long | $142.4M | 1.68% | — | Outside |
| FROG | JFROG LTD | Long | $137.7M | 1.62% | — | Outside |
| TTMI | TTM TECHNOLOGIES INC | Long | $116.1M | 1.37% | — | Outside |
| SHOP | SHOPIFY INC | Long | $113.8M | 1.34% | — | Outside |
| VRT | VERTIV HOLDINGS CO | Long | $96.5M | 1.14% | Liquid Cooling | Covered |
| KVYO | KLAVIYO INC | Long | $84.6M | 1.00% | — | Outside |
| HUBS | HUBSPOT INC | Long | $69.8M | 0.82% | — | Outside |
| COHR | COHERENT CORP | Long | $49.5M | 0.58% | Photonics | Covered |
| HPE | HEWLETT PACKARD ENTERPRISE C | Long | $46.9M | 0.55% | — | Outside |
| OKTA | OKTA INC | Long | $39.9M | 0.47% | — | Outside |
| CHYM | CHIME FINL INC | Long | $28.2M | 0.33% | — | Outside |
| CPNG | COUPANG INC | Long | $24.8M | 0.29% | — | Outside |
| HNGE | HINGE HEALTH INC | Long | $8.5M | 0.10% | — | 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.