Portfolio

Concentrated, by conviction.

A small book, held for reasons I can state in a sentence and defend in a page. Below is the exact exposure — long, short and cash — as it stood at the end of August.

As of August 31, 2026

Current Holdings

As of August 31, 2026

Long Book · 85%

Destiny Tech100DXYZ18%AlphabetGOOG12%IRENIREN11%Bloom EnergyBE10%Micron TechnologyMU9%SanDiskSNDK8%United States AntimonyUAMY8%UnitedHealth GroupUNH5%CoreWeaveCRWV4%

Cash & equivalents7%

Short Book · Hedges · 8%

MicrosoftMSFT−4%TeslaTSLA−4%

Share of total portfolio value as of August 31, 2026. Long securities (85%), cash (7%) and short exposure (8%) sum to 100%. Short positions are shown hatched.

Current Holdings

Every position, argued in full.

Security

Type

Sector

Exposure

Central thesis

Destiny Tech100

DXYZ · NASDAQ

Long

Private Markets

18.0%

A liquid way to own a basket of the most important private technology companies — bought where the discount does the work.Objective: — · Thesis →

Alphabet

GOOG · NASDAQ

Long

AI · Compute

12.0%

The market is pricing the end of Search into the most durable cash machine in technology.Objective: $450 · Thesis →

IREN

IREN · NASDAQ

Long

AI Infrastructure

11.0%

I paid a bitcoin-mining multiple for owned power and interconnect, watched it re-rate, and I am back for the next leg.Objective: — · Thesis →

Bloom Energy

BE · NYSE

Long

Energy & Power

10.0%

Power, not chips, is the binding constraint on AI — and Bloom sells the fastest megawatts on the market.Objective: $400 · Thesis →

Micron Technology

MU · NASDAQ

Long

Semiconductors

9.0%

I sold Micron into euphoria at $420 and the give-back handed it back to me at a better price.Objective: $1,200 · Thesis →

SanDisk

SNDK · NASDAQ

Long

Semiconductors

8.0%

The second leg of the memory trade — flash — bought back after a clean win, for the same reason as the first.Objective: $2,200 · Thesis →

United States Antimony

UAMY · NYSE American

Long

Critical Materials

8.0%

A defense-critical mineral with no easy Western substitute, bought back into weakness rather than into a spike.Objective: $7 · Thesis →

UnitedHealth Group

UNH · NYSE

Long

Healthcare

5.0%

A serial compounder handed to me at a distressed multiple because four bad headlines arrived in the same quarter.Objective: $500 · Thesis →

CoreWeave

CRWV · NASDAQ

Long

AI Infrastructure

4.0%

The scarcest thing in computing right now is contracted GPU capacity, and CoreWeave sells exactly that.Objective: — · Thesis →

Microsoft

MSFT · NASDAQ

Short

Software

4.0%

I stopped out of Microsoft as a long earlier this year. I am back — on the other side.Cover: $460 · Thesis →

Tesla

TSLA · NASDAQ

Short

Autos

4.0%

Priced as an AI-and-robotics company while the business that pays the bills decelerates into a price war.Cover: $300 · Thesis →

Objectives are price targets for longs and cover targets for shorts, and reflect the firm’s proprietary views — not forecasts. Holdings reflect proprietary capital and change without notice. Past performance is not indicative of future results.

Realized Positions

Owned, argued, and closed.

Closed · August 2026

Security

Position

Closed

Realized

Note

SpaceXSPCX

Short

Aug 2026

+32%

Covered before reaching the original target.

Palantir TechnologiesPLTR

Long

Aug 2026

+34%

Closed before reaching the original target.

Palo Alto NetworksPANW

Long

Aug 2026

+25%

Exited to free capital for new opportunities.

NVIDIANVDA

Short

Aug 2026

−23%

Covered at a loss; includes short-borrow and financing costs.

Prior · Track Record

Security

Position

Entry → Exit

Realized

Outcome

AMDAMD

Long

$78.00 → $180.00

+130.8%

Closed at target

NebiusNBIS

Long

$91.00 → $167.00

+83.5%

Closed at target

USA Rare EarthUSAR

Long

$17.00 → $25.00

+47.1%

Closed at target

ModernaMRNA

Long

$46.00 → $58.00

+26.1%

Closed at target

MicrosoftMSFT

Long

$415.00 → $375.00

−9.6%

Stopped out

Novo NordiskNVO

Long

$55.00 → $39.00

−29.1%

Stopped out

Rocket LabRKLB

Long

$85.00 → $60.00

−29.4%

Stopped out

ServiceNowNOW

Long

$135.00 → $93.00

−31.1%

Stopped out

Entry and exit levels are the firm’s realized transaction prices and are shown to illustrate process, not as a recommendation. Company names are used for identification only and imply no affiliation or endorsement. Past performance is not indicative of future results.