Portfolio

Concentrated, by conviction.

A small number of positions, each held for a specific, falsifiable reason. Every holding carries a written thesis and a price target — click any position to read the full research note.

Current Holdings

As of Q2 2026

100%Long Book

AlphabetGOOG26%
Palantir TechnologiesPLTR22%
UnitedHealth GroupUNH20%
Bloom EnergyBE18%
Palo Alto NetworksPANW14%

Short Book · Hedges

NVIDIANVDAShort−15%

SpaceXSPCXShort−9%

TeslaTSLAShort−11%

The Book · Investment Theses

Every position, argued in full.

GOOG · NASDAQ

Overweight

Alphabet

Internet · Cloud · AI Infrastructure

The market is short-selling the most durable cash machine in technology on a misread of the AI transition.

Price Target

$450

Read the thesis →

UNH · NYSE

Overweight

UnitedHealth Group

Managed Care · Health Services

A best-in-class compounder handed to us at a crisis multiple after a once-in-a-decade sentiment washout.

Price Target

$500

Read the thesis →

PLTR · NASDAQ

Overweight

Palantir Technologies

Software · Data & AI Platforms

The clearest enterprise-AI monetization engine in software — we own it and respect the multiple.

Price Target

$200

Read the thesis →

BE · NYSE

Overweight

Bloom Energy

Distributed Power · Fuel Cells

Power is the binding constraint on AI, and Bloom sells the fastest megawatts on the market.

Price Target

$400

Read the thesis →

PANW · NASDAQ

Overweight

Palo Alto Networks

Cybersecurity

Platformization is quietly consolidating the entire security stack onto one vendor.

Price Target

$400

Read the thesis →

NVDA · NASDAQ

Underweight · Short

NVIDIA

Semiconductors · AI Compute

The most crowded long in the market, priced for a cycle that has no down-leg. We disagree.

Cover Target

$170

Read the thesis →

SPCX · Private · Secondary

Underweight · Short

SpaceX

Launch · Satellite Broadband

A generational company at a valuation that already prices two flawless decades — we fade the froth, not the engineering.

Cover Target

$100

Read the thesis →

TSLA · NASDAQ

Underweight · Short

Tesla

Electric Vehicles · Autonomy

Priced as an AI and robotics company while the core auto business decelerates into intensifying competition.

Cover Target

$300

Read the thesis →

Prior Investments · Realized

Positions owned, argued, and closed.

8 at target · 4 stopped out · Trailing 12 months

AMDAMD

+130.8%

$78.00 → $180.00Apr – Jul 2025Closed at target

Bought the AI second-source when the market doubted MI300; sold when it believed.

Read the thesis →

NBISNebius

+83.5%

$91.00 → $167.00Mar – Apr 2026Closed at target

A neocloud mispriced on spin-out mechanics, re-rated as GPU capacity monetized.

Read the thesis →

MUMicron Technology

+75.0%

$240.00 → $420.00Nov 2025 – Jan 2026Closed at target

We rode the HBM memory super-cycle and rang the register before the crowd.

Read the thesis →

SNDKSanDisk

+53.8%

$650.00 → $1,000.00Feb – Apr 2026Closed at target

NAND supply discipline plus enterprise-SSD demand — sold alongside Micron as we de-risked semis.

Read the thesis →

USARUSA Rare Earth

+47.1%

$17.00 → $25.00Feb – Apr 2026Closed at target

Reshoring the rare-earth supply chain is policy, not preference.

Read the thesis →

UAMYUnited States Antimony

+39.9%

$10.72 → $15.00Oct 2025Closed at target

A supply-shock play on a mineral with no easy Western substitute.

Read the thesis →

IRENIREN

+35.1%

$37.00 → $50.00Dec 2025 – Jan 2026Closed at target

Bought the miner-to-AI pivot before the market re-rated the power.

Read the thesis →

MRNAModerna

+26.1%

$46.00 → $58.00Jun 2026Closed at target

A tactical swing on a deeply oversold name into a catalyst — sized as a trade, not a marriage.

Read the thesis →

MSFTMicrosoft

−9.6%

$415.00 → $375.00Jan – Mar 2026Stopped out

We anchored to quality into the AI-capex narrative near the highs — and respected our stop.

Read the thesis →

NVONovo Nordisk

−29.1%

$55.00 → $39.00Aug 2025 – Feb 2026Stopped out

We bought the GLP-1 leader believing the selloff was overdone. It wasn't — the thesis broke.

Read the thesis →

RKLBRocket Lab

−29.4%

$85.00 → $60.00Jan – Mar 2026Stopped out

We chased the number-two launch franchise too high and paid for the entry.

Read the thesis →

NOWServiceNow

−31.1%

$135.00 → $93.00Jan – Apr 2026Stopped out

A quality compounder bought into a growth wobble at the wrong moment.

Read the thesis →

Entry and exit levels are the firm’s realized transaction prices over the trailing twelve months and are shown to illustrate process, not as a recommendation. Company names are used for identification only and imply no affiliation or endorsement. Holdings reflect proprietary capital and change without notice. Past performance is not indicative of future results.