Portfolio — Q4 2025
Reported Book
$7.8B
13F value · -8% QoQ
Positions
32
-4 vs Q3 2025
Top 10
54.5%
of reported book
In Dimetrics Coverage
37.4%
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 $7.8B· 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
17.9%
$1.4B
Custom Silicon
7.4%
$581.2M
Photonics
5.3%
$411.0M
Memory
3.0%
$238.2M
Lithography & Fab Tools
2.3%
$180.2M
AI Merchant Power
1.5%
$116.4M
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 |
|---|---|---|---|---|---|---|
| GOOGL | ALPHABET INC | Long | $657.6M | 8.41% | Hyperscalers | Covered |
| CLS | CELESTICA INC | Long | $556.5M | 7.12% | — | Outside |
| APP | APPLOVIN CORP | Long | $544.7M | 6.97% | — | Outside |
| CVNA | CARVANA CO | Long | $451.9M | 5.78% | — | Outside |
| AMZN | AMAZON COM INC | Long | $428.8M | 5.48% | Hyperscalers | Covered |
| AVGO | BROADCOM INC | Long | $357.1M | 4.57% | Custom Silicon | Covered |
| RBLX | ROBLOX CORP | Long | $332.6M | 4.25% | — | Outside |
| FROG | JFROG LTD | Long | $330.9M | 4.23% | — | Outside |
| META | META PLATFORMS INC | Long | $310.1M | 3.96% | Hyperscalers | Covered |
| TTMI | TTM TECHNOLOGIES INC | Long | $295.1M | 3.77% | — | Outside |
| SMTC | SEMTECH CORP | Long | $287.5M | 3.68% | — | Outside |
| FN | FABRINET | Long | $280.5M | 3.59% | — | Outside |
| MDB | MONGODB INC | Long | $251.8M | 3.22% | — | Outside |
| SITM | SITIME CORP | Long | $246.7M | 3.15% | — | Outside |
| SNDK | SANDISK CORP | Long | $238.2M | 3.05% | Memory | Covered |
| GLW | CORNING INC | Long | $233.8M | 2.99% | — | Outside |
| NVDA | NVIDIA CORPORATION | Long | $224.1M | 2.87% | Custom Silicon | Covered |
| CIEN | CIENA CORP | Long | $209.0M | 2.67% | Photonics | Covered |
| COHR | COHERENT CORP | Long | $202.1M | 2.58% | Photonics | Covered |
| MELI | MERCADOLIBRE INC | Long | $197.7M | 2.53% | — | Outside |
| TSM | TAIWAN SEMICONDUCTOR MFG LTD | Long | $180.2M | 2.30% | Lithography & Fab Tools | Covered |
| NU | NU HLDGS LTD | Long | $180.1M | 2.30% | — | Outside |
| PI | IMPINJ INC | Long | $154.4M | 1.97% | — | Outside |
| DUOL | DUOLINGO INC | Long | $153.9M | 1.97% | — | Outside |
| MTSI | MACOM TECH SOLUTIONS HLDGS I | Long | $134.2M | 1.72% | — | Outside |
| BE | BLOOM ENERGY CORP | Long | $116.4M | 1.49% | AI Merchant Power | Covered |
| KVYO | KLAVIYO INC | Long | $99.3M | 1.27% | — | Outside |
| HUBS | HUBSPOT INC | Long | $59.9M | 0.77% | — | Outside |
| HPE | HEWLETT PACKARD ENTERPRISE C | Long | $45.8M | 0.59% | — | Outside |
| OKTA | OKTA INC | Long | $37.6M | 0.48% | — | Outside |
| WLTH | WEALTHFRONT CORP | Long | $21.7M | 0.28% | — | Outside |
| CHYM | CHIME FINL INC | Long | $266.1K | 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.