Investor Summary
Fund Strategy
FUND PERFORMANCE AS OF 30th September 2025
| ANNUALIZED SINCE INCEPTION | QUARTERLY | YTD |
|---|---|---|
| - | - | - |
| ANNUALIZED SINCE INCEPTION | QUARTERLY | YTD |
|---|---|---|
| - | - | - |
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| Date | Letter | Tickers | Keywords | Pitches | Quick Takes |
|---|---|---|---|---|---|
| Oct 24 2025 | 2025 Q3 | BCM CN, BTBT, CAN, CORZ, DMET CN, KUYA CN, NEWP, SIL AU, SILJ, WGMI | Bitcoin, crypto, inflation, Miners, Silver |
CAN BTBT CORZ NEWP CAN BTBT CORZ NEWP |
Macro Ops identifies Bitcoin miners and silver producers as top-performing themes, driven by strong relative strength and breakout momentum. The report highlights institutional interest in… |
| Jul 23 2025 | 2025 Q2 | AMTM, APM CN, IDR, RHM GR | interest rates, Macro, regime shifts, tariffs, volatility | - | The letter discusses global macro positioning amid tariffs, rate uncertainty, and shifting growth expectations. Management highlights tactical adjustments across asset classes to exploit regime changes… |
| May 2 2025 | 2025 Q1 | IDR, RHM GR, VLE CN | - | - | - |
| QUARTER | THEMES | TAGS |
|---|---|---|
| 2025 Q3 |
AIAI has been integrated into RGA's research process through tools like NotebookLM, Gems in Gemini, and Claude Code. The firm views AI as a force multiplier for human judgment rather than a replacement, emphasizing the Kasparov Law principle. They believe the market narrative around AI displacement is swinging to unhelpful extremes, creating investment opportunities. |
Machine Learning Automation Software Productivity Innovation |
CryptoFund focuses exclusively on Bitcoin accumulation through disciplined cycle-aware positioning. Manager shifted to defensive posture in Q3 anticipating correction, ending Q4 with two-thirds Bitcoin and one-third cash. Going forward, fund will hold only Bitcoin based on data showing altcoins have terrible odds with only 1-in-70 beating Bitcoin historically. |
Bitcoin Altcoins Cycles Accumulation Volatility | |
MiningMultiple mining holdings across metals including copper, gold, silver, tin, and uranium. Baker Steel Resources Trust contains significant exposure to copper developers, gold royalties, and tungsten projects. Power Metal Resources holds uranium and copper projects with royalties and blockchain mining ventures. |
Copper Gold Silver Uranium Tungsten | |
SilverSilver surged 220% since April 2024, generating powerful sell signal for precious metals. Performance mirrors 1979 parabolic blow-off that marked end of gold bull market. Retail demand peaked with reports of long lines at dealers globally before recent 40% decline from highs. |
Precious Parabolic Retail Blow-off | |
| 2025 Q2 |
Macro |
| Date | Pitch Type | Author | Ticker | Company | Industry | Sub Industry | Bull / Bear | Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|---|
| Oct 24, 2025 | Fund Letters | Brandon Beylo | CAN | Canaan Inc. | Information Technology | Semiconductors | Bull | NASDAQ | Bitcoin, Breakout, Mining, Momentum, semiconductors, Speculative | Login |
| Oct 24, 2025 | Fund Letters | Brandon Beylo | BTBT | Bit Digital Inc. | Financials | Software & Services | Bull | NASDAQ | AI, Bitcoin, Breakout, data centers, infrastructure, Mining | Login |
| Oct 24, 2025 | Fund Letters | Brandon Beylo | CORZ | Core Scientific Inc. | Information Technology | Data Infrastructure | Bull | NASDAQ | Breakout, Digital Assets, HPC, infrastructure, Mining, turnaround | Login |
| Oct 24, 2025 | Fund Letters | Brandon Beylo | NEWP | New Pacific Metals Corp. | Materials | Metals & Mining | Bull | TSX | Bolivia, Breakout, IRR, Mining, Permitting, Silver | Login |
| Oct 24, 2025 | Fund Letters | Brandon Beylo | CAN | Canaan Inc. | Information Technology | Semiconductors | Bull | NASDAQ | Bitcoin, Breakout, Mining, Momentum, semiconductors, Speculative | Login |
| Oct 24, 2025 | Fund Letters | Brandon Beylo | BTBT | Bit Digital Inc. | Financials | Software & Services | Bull | NASDAQ | AI, Bitcoin, Breakout, data centers, infrastructure, Mining | Login |
| Oct 24, 2025 | Fund Letters | Brandon Beylo | CORZ | Core Scientific Inc. | Information Technology | Data Infrastructure | Bull | NASDAQ | Breakout, Digital Assets, HPC, infrastructure, Mining, turnaround | Login |
| Oct 24, 2025 | Fund Letters | Brandon Beylo | NEWP | New Pacific Metals Corp. | Materials | Metals & Mining | Bull | TSX | Bolivia, Breakout, IRR, Mining, Permitting, Silver | Login |
| TICKER | COMMENTARY |
|---|---|
| CORZ | We also welcomed the return of Core Scientific to the long book. The position had previously migrated into the arbitrage book during merger-related activity with CoreWeave and now once again reflects a fundamental long opportunity following the collapse of that transaction. A notable contributor was the Core Scientific / CoreWeave merger arbitrage and subsequent trading around the unlock, which added approximately +550 basis points to portfolio performance. |
| Ticker | Put/Call | Amount Bought | Shares Bought | % Change | Weight % |
|---|---|---|---|---|---|
| No Recent Buys Data | |||||
| Ticker | Put/Call | Amount Sold | Shares Sold | % Change | Weight % | Status |
|---|---|---|---|---|---|---|
| No Recent Sells Data | ||||||
| Industry | Prev Quarter % | Current Quarter % | Change |
|---|---|---|---|
| No industry data available | |||