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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2024 Q3 | Sep 30, 2024 | Platinum International Technology Fund | -3.0% | - | 8035.T, AAPL, AMAT, AMD, AMZN, ASML, AVGO, CDNS, CSU.TO, GOOGL, LRCX, META, MSFT, NFLX, NICE, ORCL, SAP, SNPS, TSM, VEEV | AI, Long/Short, semiconductors, software, technology | Market weakness in AI-related stocks due to emerging doubts about the size of the AI opportunity and concerns about excessive capex investment. Consumer AI apps struggling to find viable business models with OpenAI expected to lose $5bn this year. | View | |
| 2023 Q2 | Aug 8, 2023 | Montaka Global Investments | - | - | AAPL, AMD, AMZN, BX, CRM, GOOGL, KKR, META, MSFT, NOW, NVDA, SPOT, TSLA | AI, Alternative Assets, Cloud, growth, large cap, technology, US | AI is driving a multi-trillion-dollar opportunity in cloud computing, with AWS and Microsoft Azure capitalizing through specialized chips, machine learning models, and AI-assisted programs. Microsoft's Copilot AI assistant promises 40% premium pricing for Office applications, while Meta uses AI for content recommendations and ad targeting to overcome previous headwinds. | KKR ABX ADI|BDX|FI|FND|HAS|META|MSFT|MSI|ORCL|TMO AAPL|MSFT|NFLX|NVDA|UNH AMZN |
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| 2024 Q2 | Aug 7, 2024 | Brookfield Asset Management | - | - | AMD, ARM, ASML, AVGO, BABA, BIDU, GOOGL, META, MSFT, NVDA, ORCL, PLTR, SNOW, TSM | AI, China, Cloud, growth, infrastructure, semiconductors, technology | WestEnd maintains concentrated exposure to AI infrastructure through both established leaders and catch-up trades. The firm holds positions in Palantir and Snowflake while adding AMD, Alibaba, and Baidu as companies positioned to gain market share in the AI arms race. These investments span hardware, software, and enterprise AI adoption across global markets. | BIDU BABA SNOW AMD |
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| 2025 Q2 | Aug 4, 2025 | Alpha Wealth Funds – The Insiders Fund | - | 5.5% | AMAT, AMD, AMZN, APPF, BRKR, ET, GOOG, GRAL, INBX, LULU, MRVI, ROK, SBGI, ZBRA | AI, Automation, energy, healthcare, insider buying, technology, value | The fund views AI as a transformative force driving investment opportunities, particularly in semiconductors and cloud computing. Google's AI capabilities and AMD's GPU processors are positioned to benefit from the generative AI revolution. The manager sees AI disruption fears around search as overblown, creating value opportunities. | SBGI ZBRA AMD AMZN LULU APPF GRAL ROK ET GOOG |
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| 2024 Q2 | Aug 2, 2024 | Alger Spectra Fund | 3.2% | 32.4% | AMD, AMZN, DKNG, MLM, MSFT, NVDA | AI, Cloud, growth, large cap, semiconductors, technology | AI is at an inflection point, potentially enabling significant increases in productivity. NVIDIA's computational power is a critical enabler of AI and therefore essential to AI adoption. Microsoft's Azure cloud business grew 31% with 7% AI-related growth, and most AI revenue stems from inference rather than training, indicating high quality AI applications. | MLM DKNG AMD MSFT AMZN NVDA |
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| 2023 Q2 | Aug 19, 2023 | African Lions Fund | 3.7% | 6.2% | AMD, ARM, ASML, AVGO, BABA, BIDU, GOOGL, META, MSFT, ORCL, PLTR, SNOW, TSM | AI, China, Cloud, growth, infrastructure, semiconductors, technology | WestEnd maintains concentrated exposure to AI infrastructure through both established leaders and catch-up trades. The firm holds positions in Palantir and Snowflake while adding AMD, Alibaba, and Baidu as companies positioned to gain market share in the AI arms race. | BIDU BABA SNOW AMD |
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| 2025 Q2 | Jul 9, 2025 | Longriver Investment Partners | 11.7% | 11.4% | 0700.HK, 1523.HK, 2359.HK, 9442.T, AAPL, AMD, AMZN, BABA, BIDU, FUTU, GAW.L, GOOGL, INTC, META, MSFT, NVDA, ORCL, TOI.TO, TSM, VTC.L, WISE.L | AI, Big tech, China, Cloud, growth, semiconductors, technology | AI is moving from hype to habit with real usage growth, as evidenced by Microsoft processing over 100 trillion tokens quarterly. OpenAI leads in product and distribution with ChatGPT becoming a household verb, while Meta uses AI to enhance ad platform performance. The shift from training-heavy to inference-focused infrastructure spending is reshaping capex priorities across the industry. | NVDA TSM 0700.HK META |
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| 2025 Q2 | Jul 8, 2025 | LVS Advisory – Event Driven | - | 3.6% | AMD, AMZN, BA, CW, GOOGL, ITOS, LMT, NVDA, RTX | aerospace, Biotech, defense, Event-Driven, growth, Industrial, Liquidations, nuclear | Rising demand for defense electronics driven by increased military computerization and AI integration. Global defense spending acceleration due to high-threat environment with NATO countries pledging increased spending. Foreign military sales growth including AUKUS submarine partnership and direct relationships with companies like Rheinmetall. | ITOS CW |
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| 2025 Q2 | Jul 8, 2025 | LVS Advisory – Growth | - | 15.8% | AMD, AMZN, BA, CW, GOOGL, ITOS, LMT, NVDA, RTX | aerospace, Biotechnology, defense, Event-Driven, growth, Industrial, Liquidations, nuclear | Curtiss-Wright benefits from multiple defense tailwinds including rising demand for defense electronics, increased US naval defense spending with Trump administration proposing 40% increase to naval shipbuilding budget, and rising foreign military sales. The company is deeply embedded in defense electronics across 400 platforms and 3,000 programs with substantial incumbency advantages. | ITOS CW CW |
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| 2023 Q2 | Jul 8, 2023 | Torre Financial | 13.2% | 31.9% | 6367.T, ADYEY, AMD, ANSS, ASML, CDNS, FI, GOOGL, JNJ, LIN, LRCX, LZAGY, MCHP, MEDP, MSFT, NFLX, NOW, NVDA, NVO, ON, PGR, SWAV, TSLA, TSM, TXN, WISE.L | AI, global, growth, innovation, large cap, semiconductors, technology | The fund discusses being in the early stages of an AI bubble where long-term promise is significant but near-term corrections are expected. They take a prudent approach to AI exposure, being careful on valuation and more inclined toward suppliers to the spending spree rather than direct beneficiaries. | View | |
| 2023 Q2 | Jul 5, 2023 | Longriver Investment Partners | 3.1% | - | 0700.HK, AMD, AMZN, BFF.MI, BRK-A, EVVTY, GAW.L, HDB, TOI.TO, TSM, TTI | Asia, Concentration, global, growth, Process, Quality, technology, value | US Big Tech's ability to cut costs quickly and lean into a new investment cycle driven by AI has led to a rally in their stocks, lifting US equity indices out of their bear market. AI fever took hold during the quarter, prompting the manager to trim AMD position though he was early. | AMD AIR FP|ICLR|LIN|MRVL|NOW|TSM TTI |
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| 2024 Q2 | Jul 30, 2024 | Penn Davis McFarland | - | - | AAPL, AMD, AMZN, BA, CSCO, FTRE, GOOGL, INTC, META, MSFT, MTCH, NVDA, PYPL, QCOM, SPR, TSM | AI, Cash, competition, Geopolitical, productivity, semiconductors, technology, value | The letter extensively discusses AI as a transformative technology with potential for immense productivity gains. The manager draws parallels between today's AI boom and the internet infrastructure build-out of 2000, noting that while Nvidia leads the AI infrastructure space like Cisco did for internet infrastructure, the real winners may be companies that leverage AI to solve real-world problems rather than just build the infrastructure. | View | |
| 2024 Q2 | Jul 30, 2024 | Montaka Global Investments | - | - | AAPL, AMD, AMZN, BRK-A, BX, GOOGL, KD, KKR, MC.PA, META, MSFT, NVDA, SPOT, TSLA | AI, Cloud, Compounding, Concentration, growth, technology, value | The letter emphasizes AI as a huge boost to mega-cap tech companies, with Nvidia taking advantage of its stranglehold on insatiable demand for AI chips in a supply constrained market. Amazon and Microsoft's hyperscale cloud platforms AWS and Azure are positioned to keep winning big from the AI revolution. | View | |
| 2021 Q2 | Jul 23, 2021 | The Sound Shore Fund | 1.2% | - | AGR, AMD, AMZN, BBBY, BMRN, CASI, CBOE, CCI, CNP, D, DHR, GOOGL, INCY, JKHY, MPLN, NUS, SAVA, UPWK, VST | Biotech, Energy Transition, Insider Trading, technology, Utilities, value | AMZN VST UPWK |
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| 2025 Q2 | Jul 22, 2025 | Harbor Capital Appreciation Fund | 19.5% | 7.4% | AAPL, ABNB, AMD, AMZN, APP, AVGO, CDNS, DIS, DXCM, GOOG, GOOGL, ISRG, META, MSFT, NFLX, NVDA, NVO, ORCL, SHOP, TOST, TSLA, TSM, TTD, TXN, VRTX | AI, Cloud, E-Commerce, growth, large cap, semiconductors, technology | Artificial intelligence continued to drive market momentum in Q3 2025, with persistent investor enthusiasm for AI and related growth themes supporting strong returns in Communication Services and Information Technology sectors. The fund initiated a position in Advanced Micro Devices, citing its sharpened product roadmap and momentum with major cloud providers in AI accelerators. | ORCL TOST AMD BSX SHOP HUBS |
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| 2025 Q2 | Jul 22, 2025 | Opal Capital | 7.6% | - | AMD, ARM, ASML, AVGO, BABA, BIDU, GOOGL, META, MSFT, NVDA, ORCL, PLTR, SNOW, TSM | AI, China, growth, large cap, semiconductors, technology | WestEnd maintains concentrated exposure to AI infrastructure through established positions in Palantir and Snowflake, while adding new positions in AMD, Alibaba, and Baidu as catch-up trades. The firm views these companies as benefiting from the broad market adoption phase of AI, with AMD positioned to compete head-to-head with NVIDIA for major infrastructure contracts. | BIDU BABA SNOW AMD |
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| 2025 Q2 | Jul 18, 2025 | Pernas Research | 19.3% | 10.5% | AMD, APLD, CGEH, CSCO, GOOGL, NVDA, ORCL, RELY, STX, XMTR | AI, Data centers, growth, infrastructure, semiconductors, small caps, technology | AI-related names drove significant portfolio returns with APLD and CGEH posting triple-digit gains. The manager views the AI investment cycle as lasting at least 12-16 months, comparing it favorably to the fiber buildout era. Unlike fiber's debt-financed overbuild, AI spending is demand-linked with high data center utilization and contracted demand supporting continued capital deployment. | View | |
| 2023 Q2 | Jul 18, 2023 | LVS Advisory – Event Driven | - | 2.5% | AMD, ARM, ASML, AVGO, BABA, BIDU, GOOGL, META, MSFT, ORCL, PLTR, SNOW, TSM | AI, China, Cloud, growth, semiconductors, technology | WestEnd maintains concentrated exposure to AI infrastructure through both established leaders and catch-up trades. The firm holds positions in Palantir and Snowflake while adding AMD, Alibaba, and Baidu as companies positioned to gain market share in the AI arms race. | BIDU BABA SNOW AMD |
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| 2025 Q2 | Jul 17, 2025 | Contrarius Global Equity Fund | 19.2% | 10.7% | AAPL, AMD, AMZN, CZR, GM, GOOGL, INTC, KER.PA, META, MSFT, NVDA, ORCL, PARA, TM, TSLA, UHR.PA, WBD | AI, contrarian, Electric Vehicles, semiconductors, technology, value | AI adoption is accelerating with cloud hyperscalers investing over $217 billion in AI infrastructure in 2024. The next frontier of real-world AI including agentic AI, autonomous vehicles, and humanoid robotics promises even greater disruption. Chain-of-Thought reasoning represents a breakthrough in AI's ability to perform complex multi-step reasoning tasks, significantly increasing inference computational demands. | NVDA NVDA |
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| 2025 Q2 | Jul 16, 2025 | White Falcon Capital Management | 17.6% | 10.0% | AMD, ATZ.TO, CTS.TO, DAVA, DSEY, EPAM, MAXR.TO, NU, RGLD, ROVR, SSL.TO, T.TO, TIXT.TO, W | Acquisitions, AI, Canada, Gold Royalties, IT Services, technology, value, volatility | The fund experienced gains in gold and silver royalty holdings during Q2. Precious metal royalty companies represent the top positions in the White Falcon portfolio. The fund benefited from the acquisition of portfolio company Sandstorm Gold by Royal Gold at a 98% premium to their cost basis. | TIXT.TO DAVA EPAM W ATZ.TO |
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| 2025 Q2 | Jul 16, 2025 | ARK Invest | 34.6% | 15.4% | ACHR, AMD, AMZN, AVAV, COIN, CRCL, CRSP, HOOD, KTOS, PLTR, RBLX, RKLB, ROKU, SHOP, TEM, TER, TRMB, TSLA, TTD, TWST | AI, crypto, defense, Genomics, growth, innovation, Robotics, technology | ARK views artificial intelligence as one of its Five Innovation Platforms that could play an outsized role in pulling the economy out of the rolling recession. The firm believes AI, along with other innovation platforms, could catalyze productivity gains and accelerate economic growth during turbulent times when consumers and businesses are willing to change how they operate. | View | |
| 2025 Q2 | Jul 16, 2025 | Titan Wealth | - | - | 0005.HK, 0700.HK, AAPL, ADBE, AMD, AMZN, ATCO-A.ST, AVGO, BA.L, BABA, CAT, CRWD, DIS, GIVN.SW, GOOGL, HON, INTC, JNJ, KOG.OL, LHX, MC.PA, MELI, META, MOS, MSFT, NFLX, NVDA, ORCL, REGN, ROK, RTX, SIE.DE, SNY, TSLA, UL | AI, defense, emerging markets, geopolitics, industrials, infrastructure, tariffs, technology | Technology led portfolio performance with significant gains in AI infrastructure companies like Nvidia, Broadcom, AMD, and Oracle. The fund added exposure to AI semiconductors and infrastructure, with Sanlam Artificial Intelligence fund delivering strong returns of 10.2%. AI expansion through hardware and infrastructure businesses remains a key positioning theme. | View | |
| 2024 Q2 | Jul 12, 2024 | Moon Capital Management | 0.0% | 23.0% | AAPL, AMD, AMZN, GOOGL, INTC, META, MSFT, NTB, NVDA, TSLA | AI, Banking, Market Concentration, semiconductors, technology, value | AI has been the dominant investment theme driving market performance, with the Magnificent Seven AI-related stocks producing the S&P 500's returns while other stocks declined. The manager explains AI through machine learning concepts and notes the market's fixation on chip companies is masking broader market weakness. | NTB |
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| 2024 Q2 | Jul 12, 2024 | Longriver Investment Partners | 1.3% | 15.3% | 0700.HK, 1810.HK, AAPL, AMD, AMZN, BABA, COST, FUTU, GAW.L, GOOGL, INTC, JD, META, MSFT, NVDA, PDD, TSLA, TSM, VTY.L | AI, Big tech, China, E-Commerce, global, semiconductors, technology | The GenAI investment cycle has sparked massive capital deployment by Big Tech companies, with Amazon, Meta, Alphabet and Microsoft increasing compute investment from $119bn in 2023 to an estimated $195bn in 2025. However, there remains significant uncertainty about where value will accrue in the AI stack and whether the massive investments will generate profitable returns. | PDD TSM |
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| 2023 Q2 | Jul 12, 2023 | MacNicol & Associates Asset Management | - | - | AAPL, AMD, AMZN, GOOGL, MSFT, NVDA | AI, Canada, Central Banking, interest rates, Mortgages, technology | Tech's resurrection has been driven by AI optimism, particularly around Nvidia's dominance in AI-fueled chips and GPUs. The firm notes that gigantic tech companies are scalable with AI and software platforms that can handle increased workloads, making gaining market share easy. However, they express concern about astronomical valuations in AI stocks like NVDA trading on hopes of further AI dominance. | View | |
| 2024 Q2 | Jul 10, 2024 | Brasada Focused Equity Strategy | 0.0% | 0.0% | AMD, AMZN, CCCS, COST, CPRT, GWRE, IBM, INTC, META, MSFT, NFLX, NVDA, PGR, TSLA | Concentration, insurance, Monopoly, software, technology, value | Manager discusses AI as the current investment fad, comparing it to previous technology bubbles. Notes that while ChatGPT demonstrated AI utility, markets tend to get ahead of themselves in bidding up potential winners. Emphasizes that early winners in technology revolutions are rarely the same winners a decade later. | CCCS |
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| 2025 Q2 | Jun 30, 2025 | Magellan Global Opportunities Fund No. 1 | 6.2% | - | AAPL, AMD, AMT, AMZN, AVGO, BKNG, DEO, ES, GOOGL, MA, META, MSFT, NESN.SW, NFLX, NVDA, RB.L, TSM, UNH, ZBH | AI, global, growth, Quality, semiconductors, technology, Trade Policy | AI demand driving semiconductor growth with TSMC benefiting from data center buildouts and AI chip manufacturing. Major AI data centre announcements in the US and Middle East creating upward momentum for the AI trade. | TSM NESN SW SAP MSFT GOOG AMZN DG TSM |
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| 2025 Q2 | Jun 30, 2025 | Bell Global Equities Fund | 5.3% | 1.1% | 6146.T, AAPL, AIR.PA, AMD, AMZN, ANET, AON, AVGO, BF-B, BJ, CSCO, GOOGL, LULU, META, MSFT, NESN.SW, NVDA, NVO, ORCL, TSM | AI, Cloud, global, growth, Quality, semiconductors, technology | Oracle's cloud-infrastructure revenue soared 50% year-on-year driven by AI demand, with management forecasting continued acceleration. DISCO Corp benefited from robust demand from advanced semiconductor foundries and stabilisation in EV-related power devices, with market responding favourably to capacity expansion plans linked to generative AI and next-generation communications. | NFLX AIR.PA BJ LULU 6146.T ORCL |
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| 2025 Q2 | Jun 30, 2025 | Fortress – Caribbean Growth Fund | 4.2% | - | AMD, ARM, ASML, AVGO, BABA, BIDU, GOOGL, META, MSFT, NVDA, ORCL, PLTR, SNOW, TSM | AI, China, growth, infrastructure, semiconductors, technology | WestEnd maintains concentrated exposure to AI infrastructure through both established leaders and catch-up trades. The firm holds positions in Palantir and Snowflake while adding AMD, Alibaba, and Baidu as companies positioned to gain market share in the AI arms race. These investments span hardware, software, and enterprise AI adoption. | BIDU BABA SNOW AMD |
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| 2024 Q2 | Jun 30, 2024 | Octahedron Capital | - | - | AMD, AMZN, AVGO, CART, CVNA, DASH, DIS, GOOGL, LYFT, MA, MELI, NFLX, NU, NVDA, SNOW, SPOT, TSLA, UBER, V, W | AI, Cloud, consumer, E-Commerce, growth, payments, semiconductors, technology | AI infrastructure spending is driving hyperscaler reacceleration with training and GPU demand leading growth. Enterprise AI applications remain mostly experimental with ROI questions emerging. Compound AI systems are becoming necessary for production-quality applications. | View | |
| 2024 Q2 | Jun 30, 2024 | Bailard Technology Strategy | 9.8% | 28.5% | AAPL, AMD, AMZN, FISV, KLAC, LRCX, META, MSFT, MU, NFLX, NTAP, NVDA, PANW, PSTG, SHOP, SNOW, SPOT, SPT, TSM, UBER | AI, growth, large cap, semiconductors, software, technology | Spending on AI infrastructure coupled with recovery in cyclical markets underscored improving fundamentals for semiconductors. Demand for high performance chips is spurring order activity for new wafer fabrication equipment, setting up a recovery in the tooling segment and strong upcycle in 2025. Apple unveiled a credible suite of AI-enabled apps and stoked expectations for a sizable iPhone upgrade cycle. | View | |
| 2024 Q2 | Jun 30, 2024 | Burke Wealth Managament The Focused Growth Strategy | 5.9% | 21.9% | ACN, ADBE, AMD, AMZN, CRM, CRWD, GOOGL, NOW, NVDA, SNOW, WDAY | AI, cybersecurity, Data centers, Enterprise Software, growth, large cap, semiconductors, technology | The AI revolution continues to be at the center of the market universe with Nvidia powering today's AI revolution through its Hopper and Blackwell chip sets. The durability of Nvidia's dominance in the data center is coming into clearer focus with ecosystem lock-in through CUDA programming language and accelerated product release cadence. Enterprise software companies are beginning to monetize AI-infused products after a period of testing and heavily discounted demos. | CRWD NVDA |
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| 2024 Q2 | Jun 30, 2024 | Platinum International Technology Fund | 3.0% | - | 000660.KS, 005930.KS, 6758.T, AAPL, ADBE, ADI, ADYEY, AMAT, AMD, AMZN, ASML, AVGO, CDNS, CSU.TO, GOOGL, LRCX, MCHP, META, MSFT, MU, NFLX, NTDOY, NVDA, NXPI, ORCL, QCOM, SAP, TSM, TXN, VEEV | AI, growth, semiconductors, software, technology | AI value chain businesses delivered strong returns with TSMC up 25%, Broadcom up 19%, and Oracle up 12%. The AI narrative boosted hopes for a new refresh cycle in PCs and smartphones, particularly benefiting Qualcomm and Apple. Fund maintains exposure to supply side oligopolies like TSMC and ASML that control unique technologies crucial for AI chip manufacturing. | View | |
| 2024 Q2 | Jun 30, 2024 | PM Capital Australian Companies Fund | -2.9% | - | AJG, AMD, BA, CR, NVDA, ORCL, TTAN, TYL | aerospace, AI, fixed income, healthcare, insurance, software, Valuations | AI capital expenditure boom continues driving market concentration with eight companies representing 38% of S&P 500. Manager questions sustainability of $3-4 trillion annual data center spending projections by 2030, citing economic viability and energy infrastructure as key risks. | TTAN TYL AJG CR |
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| 2023 Q2 | Jun 30, 2023 | Merchant West | - | - | ADBE, AMD, GOOGL, MSFT, NVDA, TFG.JO | AI, dividends, Energy Transition, inflation, Load Shedding, Quality, South Africa, technology | AI represents a once-in-a-generation investment opportunity following ChatGPT's release in November 2022. The team is invested in AI beneficiaries like Alphabet, Microsoft, and Adobe, with NVidia surging 177.7% year-to-date as the dominant GPU provider for AI applications. | View | |
| 2026 Q1 | Jun 1, 2026 | Rivemont | - | - | AEM, AMD, BDGI, CHGG, CSCO, CSH.UN.TO, CSU.TO, EQIX, ESI, FNV, GILD, IBM, JAZZ, MU, NVDA, NVT, OR.TO, SKYT, TRI.TO, WPM | active management, AI, gold, healthcare, infrastructure, sector rotation, semiconductors, technology | View | ||
| 2024 Q1 | May 3, 2024 | Tall Oak Capital Advisors | - | - | ABBV, AMD, AMZN, BSX, CAT, CCO.TO, CDNS, CNQ.TO, CRWD, EHC, EOG, EQIX, FTNT, GOOGL, LLY, LRCX, MA, MSFT, NVO, PANW | AI, Canada, Data centers, Diversified, energy, growth, healthcare, technology | AI adoption is rapidly increasing with 68% of companies reporting AI-related impacts on IT budgets in Q4 2023. Early adopters in software/Internet sectors are experiencing productivity enhancements and margin expansion. The focus is shifting from AI enablers to adopters in 2024, with most companies expecting AI projects in production by late 2024. | View | |
| 2026 Q1 | May 24, 2026 | LVS Advisory – Growth | 1.1% | 1.1% | AMD, AVGO, NVDA | AI, Construction, Data centers, growth, infrastructure, Power Generation, semiconductors, technology | View | ||
| 2026 Q1 | May 17, 2026 | Rodrigo Benedetti | - | - | AMD, ASAN, CRM, CSU.TO, INTC, MA, MNDY, MSFT, PATH, SAP, V | AI, defense, Europe, oil, semiconductors, software, valuation | View | ||
| 2024 Q1 | May 13, 2024 | Artemis Global Select Fund | 10.8% | 10.8% | 3690.HK, AMD, AMZN, BKR, CPRI.MI, ELV, HDB, INTC, META, MU, NESN.SW, NVDA, PDD, RVTY, RYAAY, TMO | AI, China, consumer, financials, global, healthcare, semiconductors, technology | Technology firms benefited from demand for artificial intelligence applications and the components necessary to power them. The fund invested in semiconductor companies involved in the AI supply chain, including Nvidia and AMD. | View | |
| 2023 Q1 | May 11, 2023 | Hinde Group | 10.9% | 10.9% | AMD, ARM, ASML, AVGO, BABA, BIDU, GOOGL, META, MSFT, ORCL, PLTR, SNOW, TSM | AI, China, growth, infrastructure, semiconductors, technology | WestEnd maintains concentrated exposure to AI infrastructure through both established leaders and catch-up trades. The firm holds long-term positions in Palantir and Snowflake while adding new positions in AMD, Alibaba, and Baidu to capture different fronts of the AI arms race. These companies are positioned to benefit from enterprise AI adoption and global AI infrastructure buildout. | BIDU BABA SNOW AMD NBN IBKR |
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| 2024 Q1 | Apr 29, 2024 | White Falcon Capital Management | 6.0% | 8.5% | AMD, AMZN, ATZ.TO, CTS.TO, DAVA, FNV, LFCR, NU, TECK.TO | Canada, gold, IT Services, small caps, technology, value | Manager discusses IT service providers as good businesses that act as a royalty on IT spend, serving as an important link between technology and corporations. Sees favorable backdrop with rising technology investments, growing outsourcing trends, and emergence of AI. Endava and Converge represent significant positions in this space. | CTS.TO LCBM EQTL |
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| 2024 Q1 | Apr 29, 2024 | Eagle Capital Management | - | - | AAPL, AMD, AMZN, AVGO, HUM, INTC, NVDA, QCOM, SAP, TSM, WWD | aerospace, duration, healthcare, long-term, semiconductors, technology, value | Humana's Medicare Advantage business faces margin pressure from post-pandemic medical procedure catch-up, tighter CMS reimbursement, and industry mispricing. The company expects 2024-25 earnings weakness but believes industry conditions are near trough with multi-year recovery ahead. | TSM SAP WWD AMZN HUM |
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| 2024 Q1 | Apr 27, 2024 | Montaka Global Investments | - | - | AAPL, AMD, BX, KD, MC.PA, MRNA, WMT | AI, compounders, global, Structural Change, technology | The AI wave has commenced and is already much larger than previously anticipated by industry insiders. AMD's AI chip was just released and the company revised their AI chip revenue forecast from $2 billion to $3.5 billion in just 92 days due to overwhelming customer demand. Future earnings forecasts for AMD will likely need substantial upward revisions. | KD AMD |
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| 2024 Q1 | Apr 26, 2024 | Fawkes Capital Management | 12.0% | 12.0% | AGX, AMD, ANET, ARM, ARQ.AX, CAMT, FN, HPS.TO, KMI, NVDA, POWL, SMCI, VRT | AI, energy, Immigration, inflation, infrastructure, Natural Gas, Trade Policy, water | AI demand is driving a quadrupling in electricity demand growth, with data centers expected to increase from 4.5% to 10% of US power supply in 3 years. This creates significant opportunities in energy infrastructure companies that support AI data center requirements. | View | |
| 2026 Q1 | Apr 22, 2026 | Royal London Global Equity Diversified Fund | -4.9% | -4.9% | 005930 KS, AMD, BWA, CCO, CRM, CSU.TO, GLEN.L, GOOGL, HUBG, JPM, LMT, MSFT, NOW, RELX.L, RPRX, SHEL.L, STLD, TSM, VRT | defense, Diversified, energy, Geopolitical, global, infrastructure, technology | View | ||
| 2025 Q1 | Apr 21, 2025 | Kovitz Core Equity | -2.3% | -2.3% | ADBE, ADI, AMAT, AMD, AMZN, ANET, ASHTY, BDX, BRK-A, DEO, FI, GOOG, GOOGL, ICE, J, JPM, MSFT, PM, TMO, UMG.AS | AI, financials, Quality, Resilience, technology, Trade Policy, volatility | New administration's tariff policies creating significant uncertainty with rates of 145% on China and potential decoupling of the two largest global economies. Policy fluidity makes forecasting business fundamentals nearly impossible, causing business leaders and consumers to freeze economic decisions. | MSFT ASHTY ADBE |
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| 2026 Q1 | Apr 17, 2026 | Titan Wealth | - | - | ACN, ADBE, AEM, AMD, BKR, CCJ, GLEN.L, LLY, MELI, META, MOS, MSFT, ORCL, PAAS, PLTR, RELX.L, RWE.DE, UL, XOM | AI, energy, geopolitics, infrastructure, Iran, Multi-Manager, Regional | RWE.DE |
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| 2025 Q1 | Apr 17, 2025 | Titan Wealth | - | - | AAPL, ADBE, AMD, AMZN, AVGO, BIO, BMW.DE, EBAY, EL, EOAN.DE, ETSY, HEIA.AS, JPM, LLY, MT, NKE, NVDA, RWE.DE, STLA, V | AI, ETFs, Europe, infrastructure, tariffs, technology, Utilities | The ongoing rise of Exchange Traded Funds has significantly altered equity market structure, with the top 10 companies now accounting for around 20% of the MSCI World Index. This dominance is driven by passive investment flows, creating both challenges and opportunities for active managers. | View | |
| 2024 Q1 | Apr 15, 2024 | Baron Opportunity Fund | 4.0% | 25.1% | ACLX, AMD, AMZN, ASML, AVGO, CRWD, CSGP, INDI, LEGN, MBLY, META, MSFT, NVDA, RIVN, SPOT, SWAV, TSLA, TSM, TTD, VKTX | AI, Cloud, growth, innovation, large cap, semiconductors, technology | AI is described as the most significant advancement impacting the digital world since the internet itself. The fund is positioned just past the first upward inflection in a generational S-curve for AI adoption and economic impact. Every digital interaction will eventually be AI powered, making humans more productive across various activities. | View | |
| 2024 Q1 | Apr 15, 2024 | Harding Loevner International Small Companies Equity | 9.1% | 4.8% | AAPL, ADBE, AMD, AMZN, CRM, GOOGL, INTC, META, MSFT, NFLX, NVDA, ORCL, PYPL, QCOM, SHOP.TO, SPOT, SQ, TSLA, TWLO, UBER | AI, cybersecurity, international, Japan, semiconductors, small caps, value | Generative AI is a powerful wave gaining momentum since ChatGPT's launch, with global spending on enabling chips expected to surge from $50B in 2023 to $100-400B over the next few years. Smaller companies like Pfeiffer Vacuum occupy important niches in the AI supply chain, manufacturing advanced vacuum pumps critical for semiconductor clean rooms where AI chips are produced. | View | |
| 2023 Q1 | Apr 12, 2023 | Montaka Global Investments | - | - | AMD, BAC, GOOGL, MSFT | AI, Banking, China, credit, geopolitics, Microsoft, semiconductors, technology | The release of OpenAI's GPT-4 represents a historically momentous occasion with implications not yet understood. The model can ace university-level exams and shows extreme improvement rates. Microsoft is integrating GPT-4 into its Office suite, creating opportunities for software leaders to charge premiums while disrupting others' business models. | AMD ABAC |
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| 2024 Q1 | Apr 10, 2024 | NZS Capital – Growth | - | - | 6367.T, ADYEY, AMD, ANSS, ASML, FI, JNJ, LIN, LONN.SW, MCHP, MEDP, NFLX, NOW, NVDA, ON, PGR, SWAV, TSM, TXN, WISE.L | AI, global, growth, innovation, large cap, semiconductors, technology | The fund discusses being in the early stages of an AI bubble with long-term promise but near-term correction risk. They take a prudent approach to AI exposure, being careful on valuation and more inclined toward suppliers to the spending spree. The fund notes AI's potential impact is unknowable but enthusiasm is bordering euphoria. | View | |
| 2025 Q1 | Apr 1, 2025 | MPD Partners | - | - | AMD, ARM, ASML, AVGO, BABA, BIDU, GOOGL, META, MSFT, NVDA, ORCL, PLTR, SNOW, TSM | AI, China, Cloud, growth, infrastructure, semiconductors, technology | WestEnd maintains concentrated exposure to AI infrastructure through both established leaders and catch-up trades. The firm holds positions in Palantir and Snowflake while adding AMD, Alibaba, and Baidu as companies positioned to gain market share in the AI arms race. These investments span hardware, software, and enterprise AI adoption. | BIDU BABA SNOW AMD |
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| 2025 Q4 | Mar 4, 2026 | Saltlight Capital | - | 30.8% | AMD, AMZN, ASML, BLU.JO, CCL.JO, GOOGL, INTC, MELI, MSFT, NVDA, SE, TSM | AI, global, growth, semiconductors, software, technology | AI represents a general-purpose technological revolution with multi-decade second-order effects across industries, labor markets, and national competitiveness. The manager views AI as creating opportunities through enabling constraints and compounding downstream optionality, while complexity causes market participants to misprice assets. The AI epoch remains transformational and has dominated US equity markets in both size and mindshare. Upstream supply-chain participants are increasingly signaling that 2028 and beyond capex could be materially higher, not lower, contradicting the widely held digestion narrative. TSMC lifted capex expectations, ASML's bookings re-accelerated, and Intel found itself unexpectedly capacity-constrained in data-centre CPUs. The semiconductor supply chain is signaling acceleration rather than the expected digestion phase. The market is being asked to underwrite multiple Stargate-scale campuses every year for several years, with analyst forecasts implying roughly 10 GW in FY27E, 12 GW in FY28E, 13 GW in FY29E, and 16 GW in FY30E-FY31E. A 1 GW data centre costs roughly $50-60 billion, with NVIDIA capturing around $35 billion of that via its share of the stack. Software multiples have compressed as if AI disruption is inevitable, while hyperscalers and enterprises still struggle to demonstrate clear AI ROI. The traditional SaaS playbook faces challenges from AI eating into margins, attacking the pricing unit, and creating cannibalization problems. The software total addressable market is likely to grow 2-3x as AI replaces some work and the gap between software spend and headcount narrows. | View | |
| 2025 Q1 | Mar 31, 2025 | NCG Large Cap Growth Strategy | 12.2% | 12.2% | AAPL, AMD, AVGO, CRM, CSGP, CVNA, HWM, MRVL, NVDA, PANW, PGR, SNOW, SPOT, SYM, TEAM, TOST, TSLA, V | earnings, growth, large cap, Quality, technology | NCG emphasizes investing in what they believe are the fastest growing and highest quality companies in America. They maintain focus on fundamental growth drivers of each holding despite challenging market conditions. The firm expects strong earnings growth in 2025 for small, mid and large cap companies, which would be a continuation of strong growth in large cap. | View | |
| 2025 Q1 | Mar 31, 2025 | Airlie Small Companies Fund | -1.1% | -1.1% | AMD, ARM, ASML, AVGO, BABA, BIDU, GOOGL, META, MSFT, NVDA, ORCL, PLTR, SNOW, TSM | AI, China, Cloud, growth, large cap, semiconductors, technology | WestEnd maintains concentrated exposure to AI infrastructure through both established leaders and catch-up trades. The firm holds positions in Palantir and Snowflake while adding AMD, Alibaba, and Baidu as companies positioned to gain market share in the AI arms race. These investments span the hardware and software sides of AI growth with focus on data center processors, enterprise AI tools, and autonomous mobility platforms. | BIDU BABA SNOW AMD |
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| 2024 Q1 | Mar 31, 2024 | Platinum International Technology Fund | 15.2% | 15.2% | ADBE, ADSK, AMAT, AMD, AMZN, ASML, AVGO, GOOGL, LRCX, MBLY, META, MSFT, MU, NFLX, ORCL, QCOM, SAP, TSM, UMG.AS, V | AI, Cloud, semiconductors, software, technology, value | Fund holds companies benefiting from AI investment including TSMC, ASML, Applied Materials, AMD, and Lam Research. Manager focuses on reasonably-valued businesses that perform well if AI spending continues but have strong non-AI businesses as downside protection. Portfolio exposure to AI beneficiaries is roughly 14%. | View | |
| 2024 Q1 | Mar 31, 2024 | ACATIS Investment | 5.6% | 5.6% | AMD, META, MSFT, NVDA, NYT, ORCL | AI, Data centers, infrastructure, Investment, Meta, returns, technology, valuation | Massive investments in AI infrastructure could unlock trillions in economic output or prove wasteful. While skepticism is consensus, companies investing hundreds of billions appear better informed than skeptics. The market has added over $7 trillion to tech valuations based on AI productivity expectations. | META PLTR FRE GR LONN SW |
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| 2024 Q1 | Mar 31, 2024 | City Different Investments – Multi-Cap Core | 11.4% | 33.1% | AJG, AMD, BA, CR, NVDA, ORCL, TTAN, TYL | aerospace, AI, diversification, healthcare, insurance, software, valuation | AI capital expenditure boom continues driving market concentration with eight companies representing 38% of S&P 500. Manager questions sustainability of $3-4 trillion annual data center spending projections by 2030, citing concerns about economic viability and energy infrastructure bottlenecks. | TTAN TYL AJG CR |
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| 2023 Q1 | Mar 31, 2023 | Tarkio Fund | - | - | AJG, AMD, BA, CR, NVDA, ORCL, TTAN, TYL | aerospace, AI, diversification, healthcare, software, technology, valuation | AI capital expenditure boom continues driving market concentration with eight companies representing 38% of S&P 500. Manager tracks economic viability risks and energy infrastructure bottlenecks while maintaining exposure to the theme despite bubble concerns. | TTAN TYL AJG ACR |
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| 2023 Q1 | Mar 31, 2023 | ValueWorks Capital | - | - | ADBE, AMD, AMZN, ANET, ASML, CRM, CSCO, FDS, GOOGL, INTU, MELI, META, MSFT, NVDA, ORCL, TMO, TSM | AI, growth, large cap, Quality, semiconductors, technology, US | AI-related capex spend is boosting the stock market with hyperscalers spending nearly $450 billion in 2025. The AI economy including semiconductors, energy, and data center construction have been clear winners. Many large AI infrastructure deals have been announced, benefiting companies like Nvidia, OpenAI, Oracle, and AMD. | View | |
| 2024 Q4 | Mar 1, 2025 | Columbia Global Technology Growth Fund | 6.1% | 31.7% | AAPL, ADBE, AMAT, AMD, AMZN, ASML, AVGO, GM, GOOGL, LRCX, META, MSFT, NVDA, RDDT, TSLA, TSM, UBER, V | AI, Cloud, global, growth, semiconductors, technology | AI remains the key market driver with continued focus on agentic AI workflows and autonomous problem-solving capabilities. Companies across all sectors are embracing agentic AI technology that can work around the clock on behalf of humans. Market participants continue searching for evidence that AI is being deployed by global enterprises and resulting in tangible productivity gains. | View | |
| 2023 Q4 | Feb 29, 2024 | Easterly – Global Real Estate Fund | 12.6% | 7.2% | AAPL, AMD, AMZN, ASML, GOOGL, INPST, MELI, NFLX, NIO, NU, RBRK, SE, TXN, UBER, V | E-Commerce, Fintech, growth, Logistics, Platforms, software, technology | Portfolio includes major e-commerce platforms like Mercado Libre expanding across Latin America with new wholesale platform and digital health services. Manager emphasizes platform businesses with structural advantages as cornerstone of investment philosophy. | ^VIX RBRK ARGX BB|DAVA|DDOG|GLOB|ILMN|LOAR|MELI|NET|NU|NVDA|TSM INPST |
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| 2024 Q4 | Feb 28, 2025 | Askeladden Capital Partners | - | - | AMD, CHGG, CSCO, DDD, INTC, MSFT, NVDA, SBUX, SSYS | AI, productivity, Research, semiconductors, Small-cap, technology, value | Manager conducted extensive research on artificial intelligence, concluding it will significantly enhance research productivity (2-3x improvement expected) but won't replace human judgment. AI excels at pattern recognition and statistical processing but lacks true reasoning, causality understanding, and struggles with hallucinations. The technology represents a powerful force multiplier for knowledge work rather than a replacement. | View | |
| 2023 Q4 | Feb 20, 2024 | Tall Oak Capital Advisors | - | - | AAPL, ABBV, AMD, AMGN, AMP, AMZN, ATD.TO, AVGO, BEI-UN.TO, BSX, CAT, CBRE, CCO.TO, CDNS, CNR.TO, COST, CSCO, DOL.TO, EA, EHC, EMN, EOG, EQIX, FERG, FTNT, GOOGL, LLY, LRCX, MA, MCD, META, MSFT, NVDA, NVO, ORCL, PANW, PG, QCOM, ROK, SCCO, SHOP.TO, T, TD.TO, TGT, TIH.TO, TMUS, TSLA, UNH, VZ, WCN, WMT, WSP.TO | Banking, cybersecurity, dividends, large cap, private credit, Quality, Supply Chain, technology | The integration of digital and physical realms is revolutionizing security needs. Cybersecurity continues to be crucial due to expanding digital connectivity, cloud adoption, and hybrid operations. Key emerging themes include cloud security mainstreaming, software supply chain security, OT and IoT security, and API security evolution. | PANW |
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| 2025 Q4 | Feb 18, 2026 | Starboard Value | 0.0% | 0.0% | AMD, APLD, CIFR, DLR, EQIX, HUT, RIOT, WULF | Activist, AI, crypto, Data centers, Power, value | Riot is positioned to capitalize on the massive AI/HPC data center opportunity as AI companies scale capacity exponentially. The company's sites are well-suited for AI training, inference, edge computing, and various data center applications, with power being the biggest constraint for AI buildout. Riot's transformation from bitcoin mining to AI/HPC data centers represents tremendous value creation potential. The company has 1.7GW of fully available power at prime locations that could generate over $1.6 billion of annual EBITDA if monetized at recent precedent transaction rates. Cryptocurrency mining companies have become attractive sources of near-term power capacity for AI/HPC companies. From August to year-end 2025, four crypto mining companies announced AI/HPC deals for approximately 1.4GW of gross capacity at attractive leasing rates. | RIOT |
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| 2025 Q4 | Feb 12, 2026 | Artemis US Select Fund | 7.0% | 10.0% | AMAT, AMD, AXON, CAH, CTVA, ETN, IQV, KO, LLY, LYV, META, MU, NVT, PH, RCL, WDC | AI, growth, healthcare, Pharmaceuticals, semiconductors, technology, US Equities | The manager expects greater dispersion between AI winners and losers, having demonstrated ability to analyze and identify these groups over the past three years. AMD rallied after announcing significant AI-related partnerships, positioning the fund to benefit from continued AI trade evolution. Healthcare is a sector the manager is optimistic about and has been building exposure to following an extended period of underperformance. Eli Lilly's obesity and diabetes franchise continues to exceed expectations, particularly with Mounjaro sales ahead of estimates. The fund increased semiconductor exposure during the quarter, with Micron completely selling out of memory chips and forecasting higher profit margins. Applied Materials was added as a new position in semiconductor wafer fabrication equipment. | View | |
| 2024 Q4 | Dec 31, 2024 | Baron Opportunity Fund | 11.9% | 39.9% | AAPL, AMD, AMZN, ANET, ARGX, ASML, AVGO, CRWD, CYBR, GOOGL, INDI, LPLA, META, MPWR, MSFT, NARI, NVDA, PCVX, RCKT, SHOP, SPOT, TEAM, TSLA, TTD, VKTX, ZS | AI, growth, innovation, large cap, secular trends, technology | AI infrastructure demand continues to drive robust performance across compute, networking, and systems. NVIDIA maintains unmatched leadership spanning GPUs, systems, software and networking solutions. The advent of reasoning models requiring multiple passes through models is expected to significantly increase compute intensity in both training and inference. | CYBR LPLA ANET NVDA TSLA |
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| 2024 Q4 | Dec 31, 2024 | Parnassus Growth Equity Fund | 4.9% | 26.9% | AKAM, AMAT, AMD, AVGO, BSX, CRM, DASH, DDOG, EFX, FERG, INTU, LVMUY, MELI, MSFT, NET, NTRA, NVDA, PCOR, TMO, TSM | AI, growth, healthcare, large cap, semiconductors, technology | AI remained a dominant theme throughout 2024, with companies positioned to capitalize on artificial intelligence driving significant returns. The fund benefits from investments in companies like Broadcom designing AI server processors and NVIDIA leading the market for AI-required chips. AI integration across customer relationship management and cloud computing platforms continues to drive robust growth. | VRTX EXAS TEAM DASH DDOG |
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| 2023 Q4 | Dec 31, 2023 | L1 Capital International Fund | 4.7% | 0.0% | ADI, AMD, AMZN, BKNG, CME, CRH, EXP, GOOGL, GPK, HCA, ICE, INTU, MA, MSFT, NRP, UNH | healthcare, inflation, infrastructure, Quality, technology, value | Manager expects inflation to continue declining with core PCE falling to 3.2% in November 2023. Goods are already deflationary while services inflation is no longer driving up headline rates. Housing inflation has peaked but remains sticky. | HCA |
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| 2023 Q4 | Dec 31, 2023 | Artisan Global Discovery | 7.6% | 13.1% | AMD, ARQX, BC.MI, EFX, EXAS, GXI.DE, HUBB, HUBS, MRO.L, ON, QNTA, TREX, VEEV, WST | AI, Biotechnology, Energy Transition, growth, healthcare, semiconductors, small cap, technology | AMD's stock strength driven by growing excitement around AI exposure and MI300 GPU chip launch to compete against NVIDIA. Manager believes this could be a $20 billion opportunity for AMD that would nearly double its revenue. Software companies are rapidly exploring generative AI tools, with early opportunities for vendors to expand solutions via integrated AI. | View | |
| 2023 Q4 | Dec 31, 2023 | Meridian Contrarian Fund | 6.9% | 0.0% | ALEX, AMD, APA, CACI, CCJ, CRC, FCNCA, HNST, LEGN, PINS, PRGO, SGH, TAP, THC, VICI | Biotechnology, contrarian, energy, semiconductors, small caps, turnaround, value | AMD positioned as stronger competitor to Nvidia with compelling technology and superior products to Intel. The company unveiled details about upcoming GPU products for the AI market, with expectations that AMD's GPU servers will be a viable alternative to Nvidia. | PINS HNST AMD ADNT|APA|BPOP|FLR|KOS|OLN LEGN SGH |
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| 2023 Q4 | Dec 31, 2023 | Burke Wealth Managament The Focused Growth Strategy | 12.8% | 53.2% | AAPL, AMD, AMZN, CHTR, CMCSA, CRM, GOOGL, META, MSFT, NOW, NVDA, SNOW, TMUS, TSLA, VZ | AI, Cloud, earnings, growth, large cap, semiconductors, technology | The manager believes the AI revolution will be transformational for business, with 2023 being a year of massive investment in data centers for generative AI compute power. 2024 needs to be the year AI applications come into clearer focus, with companies like Snowflake helping enterprises organize data while Salesforce and ServiceNow deliver custom AI applications. Software applications tend to follow hardware investments by 3-6 months, and early AI applications from portfolio companies are encouraging. | View | |
| 2023 Q4 | Dec 31, 2023 | Platinum International Technology Fund | 6.8% | 24.9% | 0700.HK, 6861.T, 7974.T, ADBE, ADYEY, AMD, AMZN, ASML, AVGO, BABA, CSCO, GOOGL, INTC, NFLX, NVDA, QCOM, TSM, UMG.AS, V | AI, Quality, semiconductors, Streaming, technology | The fund examined Nvidia's exceptional 250% returns driven by generative AI demand but decided against investing due to concerns about unsustainable private market funding and overly optimistic investor expectations for future GPU demand. The manager believes current AI spending is driven by private capital rather than genuine consumer and enterprise adoption. | View | |
| 2023 Q4 | Dec 31, 2023 | TMR Long Short Opportunities | - | - | AMD, BABA, BIDU, PLTR, SNOW | AI, China, growth, infrastructure, semiconductors, technology | WestEnd maintains concentrated exposure to AI infrastructure through established positions in Palantir and Snowflake, while opening new positions in AMD, Alibaba, and Baidu as catch-up trades. The firm views these companies as beneficiaries of enterprise AI adoption and global AI infrastructure investment. | BIDU BABA SNOW AMD |
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| 2022 Q4 | Dec 31, 2022 | Baron Opportunity Fund | 4.0% | 25.1% | AMD, AMZN, CRWD, INDI, IT, MA, MSFT, NVDA, RCKT, RIVN, TSLA, V, XFCH, ZI | - | View | ||
| 2024 Q3 | Dec 23, 2024 | Spear Advisors | -3.5% | 0.0% | ALAB, AMD, ANET, CEG, CRDO, DDOG, GEV, HUBS, MRVL, NET, NVDA, SHOP, SNOW, SPRX, TSLA, VST, ZS | AI, Data centers, energy, growth, semiconductors, technology | The fund sees AI as driving the next technology cycle, with applications emerging that were previously impossible due to compute limitations. They are expanding from AI hardware to applications including autonomous driving and quantum computing, noting step-change improvements in performance with accelerated computing. | TSLA |
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| 2024 Q4 | Dec 18, 2024 | Ninepoint | - | - | AAPL, AMD, AMZN, BLK, COIN, CSCO, GOOGL, IBM, INTC, META, NVDA, PYPL, UBS, V | AI, crypto, energy, gold, infrastructure, private credit, Silver, Trump | Infrastructure positioned to benefit from electrification of the U.S. economy and energy transition. Electricity demand expected to accelerate dramatically led by AI-focused data centers, onshoring of industrial manufacturing, and continued growth of electrified transportation. Despite popular narrative that energy is a sunset industry, demand for oil, natural gas and coal expected to grow longer and stronger than consensus belief. | View | |
| 2023 Q3 | Dec 10, 2023 | White Falcon Capital Management | 6.0% | 8.5% | AMD, AMZN, MCD, NU, ROVR, TECK | active management, commodities, inflation, marketplaces, Quality, value | Manager views inflation as a tax and discusses how rising yields create alternatives to equities. Emphasizes that inflation benefits companies with pricing power and those that built infrastructure with yesterday's currency but can capitalize with tomorrow's inflated dollars. | ROVR |
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| 2023 Q2 | Dec 7, 2023 | White Falcon Capital Management | 6.0% | 8.5% | AMD, AMZN, ATZ.TO, CTS.TO, DAVA, EPAM, NU, TECK.TO, WPM | AI, Brazil, gold, IT Services, Mining, semiconductors, technology, value | Manager views AI as a significant catalyst for technology companies and believes IT services providers like EPAM will be key enablers of corporate AI adoption. Discusses how AI helped investors get comfortable with future earnings growth in tech companies and argues against the narrative that AI will hurt IT services companies. | EPAM WPM AMZN AMD ARGX BB|DAVA|DDOG|GLOB|ILMN|LOAR|MELI|NET|NU|NVDA|TSM |
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| 2025 Q3 | Nov 7, 2025 | Montaka Global Investments | - | - | 0700.HK, AMD, AMZN, BX, CRM, DASH, FLUT.L, FND, GOOGL, KKR, MC.PA, MDB, META, MSFT, NOW, NVDA, ORCL, RIGD.NS, SPOT, U | AI, First Principles, Flywheel, growth, long duration, Structural Change, technology, value | AI is accelerating change across the economy with both prudent and risky capital allocations. Companies like Meta, Alphabet, and Tencent are investing enormous sums and earning significant returns due to AI's complementarity with their core businesses. However, OpenAI's massive spending commitments raise questions about revenue generation and customer validation. | View | |
| 2025 Q3 | Nov 5, 2025 | Horos Asset Management | 10.7% | 23.7% | AAPL, AMD, AMZN, BIDU, CMG, COST, GOOGL, INTC, KKR, MA, MCD, META, MSFT, NEON, NVDA, ORCL, PYPL, SBUX, TSLA, WMT | AI, Bubble, Europe, Margin Of Safety, technology, Valuations, value | Massive investments by hyperscalers in AI infrastructure reaching $365 billion, resembling dot-com bubble dynamics. Cross-investments between companies like NVIDIA and OpenAI mirror 1990s patterns. Energy demands and valuations appear unsustainable despite real technological potential. | View | |
| 2025 Q3 | Oct 7, 2025 | Palm Valley Capital Management | 2.4% | 3.8% | AAPL, AMD, AMZN, AVA, AVGO, BRK-A, DOX, FLO, GOOGL, INTC, LKQ, META, MSFT, NVDA, PHYS, PSLV, RHI, SEB, TFX, TSLA | AI, Bull Market, Fed policy, gold, small caps, technology, Valuations | Managers question whether AI valuations are justified, noting that while AI may change the world, current leaders like Nvidia face sustainability challenges with 50%+ margins. They argue that even if AI continues and current beneficiaries remain entrenched, valuations already reflect their moats. | View | |
| 2025 Q3 | Oct 30, 2025 | Stenham Asset Management | 0.8% | 8.3% | AAPL, AFG, AIR.PA, AMD, AMZN, AVGO, CSU.TO, ENEN.DE, GOOGL, META, MSFT, NVDA, ORCL, SNPS, TSM, UMG.AS | AI, Cloud, energy, infrastructure, Quality, semiconductors, technology, valuation | The AI infrastructure boom remained the dominant theme driving markets to new highs. Oracle reported customer commitments of $455bn, surpassing expectations by over 200%. The fund holds picks and shovels of the AI opportunity including Microsoft, Amazon, and TSMC, focusing on companies with flexibility to reallocate capacity and disciplined approaches to AI infrastructure deployment. | SIE TSM SIE TSM |
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| 2025 Q3 | Oct 30, 2025 | Troy Multi-Asset Strategy | - | - | AMD, AMZN, GOOGL, META, MSFT, NVDA, ORCL | AI, Central Banks, gold, inflation, risk management, Speculation, technology, Valuations | Three years after ChatGPT launched an AI investment frenzy, the gap between technological promise and financial reality remains wide. The monetisation of AI is already here, but perhaps not at the scale that some share prices are currently discounting. Much of today's AI investment is spent on semiconductors with short useful lives and rapid obsolescence. | View | |
| 2025 Q3 | Oct 30, 2025 | Trojan Fund from Troy Asset Management | - | - | AMD, AMZN, GOOGL, META, MSFT, NVDA, ORCL | AI, diversification, gold, risk, Speculation, technology, Valuations, value | AI investment boom parallels dotcom era with massive capital expenditure ($90bn last quarter) but unclear monetization timeline. Market pricing in transformative potential before productivity gains materialize. Infrastructure beneficiaries winning currently but competition will intensify as capital stock demands vast revenues for respectable returns. | View | |
| 2025 Q3 | Oct 29, 2025 | Pernas Research | 31.7% | 47.2% | AMD, APLD, CGEH, CSCO, GOOGL, NVDA, ORCL, RELY, STX, WCG, XMTR | AI, Data centers, growth, semiconductors, small caps, technology | AI-related names drove significant portfolio returns with APLD and CGEH posting triple-digit gains. The manager compares current AI investment cycle to fiber buildout, arguing AI has more durable CAPEX with demand-linked spending and high data center utilization. Expects AI investment cycle to last 12-16 months with low probability of collapse. | NVDA NVDA |
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| 2022 Q3 | Oct 24, 2022 | L1 Capital International Fund | 4.7% | 0.0% | ADBE, AMD, AMZN, BKNG | - | View | ||
| 2025 Q3 | Oct 22, 2025 | Kovitz Core Equity | - | 8.2% | ADBE, ADI, ALC, AMD, AMZN, ANET, BDX, COO, FI, GOOGL, KMX, META, MSFT, ORCL, PM, PPG, RYAN, TMO, TSLA, WAT | AI, healthcare, infrastructure, momentum, private credit, Quality, technology | The letter extensively discusses AI infrastructure investment with $2.9 trillion projected spending on data centers over three years. Companies like OpenAI have made over $1 trillion in multi-year commitments despite limited current revenue. The AI theme dominates market performance with Information Technology comprising 35% of large cap market weight. | WAT RYAN COO ALC ORCL WAT RYAN COO ALC ORCL |
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| 2025 Q3 | Oct 22, 2025 | Brasada Focused Equity Strategy | - | - | AMD, AMZN, AVGO, FERG, GOOGL, META, MSFT, NVDA, ORCL | AI, Bubble, Data centers, Distribution, Fed policy, semiconductors, tariffs | Corporate investment in AI has been the primary market driver, with capital expenditure extending beyond GPUs to entire infrastructure stack. The nature of investment is shifting from disciplined cash-flow funded race to debt-fueled arms race, with OpenAI orchestrating buildout on their terms through circular financing models. | AVGO FERG AVGO FERG |
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| 2025 Q3 | Oct 22, 2025 | WestEnd Capital | 3.9% | 13.2% | AMD, ARM, ASML, AVGO, BABA, BIDU, GOOGL, META, MSFT, NVDA, ORCL, PLTR, SNOW, TSM | AI, China, Cloud, growth, large cap, semiconductors, technology | WestEnd maintains exposure to AI leaders like Palantir and Snowflake while opening new positions in catch-up trades including AMD, Alibaba, and Baidu. The firm views AI as entering broad market adoption phase with rising demand across hardware and software infrastructure. | BIDU BABA SNOW AMD |
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| 2025 Q3 | Oct 20, 2025 | Alpha Wealth Funds – The Insiders Fund | - | 14.8% | AMAT, AMD, APPF, AXON, ET, GOOG, INTC, LLY, LRCX, MRVL, ROK | AI, energy, growth, healthcare, insider buying, semiconductors, technology, value | The fund attributes its biggest gains to heavy concentration in the AI technology investment boom. Several key positions were supported by insider buying in semiconductor companies like AMD, Applied Materials, and Marvell Technologies. The manager views AI as driving secular demand for chips, advanced packaging, and memory capex globally. | MRVL AMD INTC AMAT LLY APPF ROK AXON ET GOOG MRVL AMD INTC AMAT LLY APPF ROK AXON ET GOOG |
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| 2025 Q3 | Oct 20, 2025 | White Falcon Capital Management | 10.8% | 21.9% | AFN.TO, AMD, DAVA, EPAM, FNV, NFI.TO, NU, SSL.TO, TFPM, TIXT | Agriculture, AI, gold, Quality, royalties, technology, value | Gold and silver royalty names performed very well thanks to recent strength in metal prices. The manager's preferred vehicle for investing in gold has been royalty companies, which are high quality businesses offering diversification, yield, and option value. Positions in Franco-Nevada, Triple Flag, and Sandstorm Gold have more than doubled since March 2024, leading to position trimming due to parabolic price moves. | AFN CN DAVA EPAM NU NFI CN AMD SSL CN TFPM CN FNV CN FNV CN |
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| 2025 Q3 | Oct 20, 2025 | Templeton & Phillips Capital Management | - | - | AAPL, AMD, AMZN, AVGO, BB, BKS, GOOGL, IBM, META, MRVL, MSFT, NOK, NVDA | AI, Capex, credit, industrials, productivity, small caps, technology, value | Managers see AI capex boom creating boom-bust cycle similar to dotcom era, with hyperscalers locked in arms race for AGI. Despite risks, AI investments driving economic growth through multiplier effects and productivity gains. | View | |
| 2025 Q3 | Oct 20, 2025 | Ironvine Capital Partners | - | 10.0% | AMD, AMZN, ASML, GOOGL, INTC, META, MSFT, NSC, NVDA, ORCL, TSM, UNP | AI, Capital Deployment, infrastructure, Monopolies, Railroads, semiconductors | ASML represents a monopoly-like position in lithography systems essential for semiconductor manufacturing, with over 90% market share and massive barriers to entry through decades of R&D investment. The company's extreme ultraviolet systems are critical infrastructure for advanced chip production, positioning it as a toll that must be paid for semiconductor fabs driving global technological progress. | View | |
| 2024 Q3 | Oct 20, 2024 | Distillate Capital Small/Mid Cap Quality & Value | 0.0% | 5.6% | AAPL, ABBV, AMD, AMZN, AVGO, COST, KO, LLY, MA, META, MSFT, NFLX, NVDA, ORCL, QCOM, TMUS, TOL, TSLA, WMT, WSM | cash flow, Leverage, Quality, risk management, small caps, valuation, value | The letter extensively discusses valuation risk in the current market, comparing current conditions to the 2000 TMT bubble. Over 40% of the S&P 500 now trades at NTM P/E ratios over 30x, similar to 2000 levels. The most expensive 15 megacap stocks trade at a 72% premium to the rest of the market and account for almost 40% of total S&P 500 market cap. | View | |
| 2024 Q3 | Oct 20, 2024 | Rogue Funds | -3.0% | 0.0% | ACHV, AMD, ASPI, AWRE, ECOR, GLO.TO, MIS.AX, RDCM | Biotechnology, catalysts, Concentration, small caps, uranium, value | Global Atomic represents a significant uranium investment with multiple catalysts expected over 6-8 months. The company received official approval from Niger and awaits development bank financing. Despite geopolitical risks, uranium remains in deficit with prices expected to stay elevated. | View | |
| 2025 Q3 | Oct 19, 2025 | Harding Loevner International Small Companies Equity | -1.1% | 17.3% | AAPL, ADBE, AIRTEL.L, AMAT, AMD, AVGO, CRM, CSCO, IBM, INTC, KLAC, LRCX, MRVL, MSFT, MU, NVDA, NXPI, ORCL, QCOM, TXN | AI, Europe, Health Care, international, IT Services, momentum, Quality, small cap | The portfolio's Health Care holdings faced headwinds from momentum-driven markets favoring short-term sentiment over long-term fundamentals. Despite turbulent conditions including COVID disruptions, rising interest rates, and policy uncertainty, the underlying demand drivers remain strong with aging demographics and increasing health investments. Equipment and supplies companies with recurring revenue models are positioned for recovery. | MEDI NO AFX GR 6869 JP |
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| 2023 Q3 | Oct 19, 2023 | Horizon Investment | - | - | AJG, AMD, BA, CR, NVDA, ORCL, TTAN, TYL | aerospace, AI, diversification, healthcare, insurance, software, valuation | AI capital expenditure boom continues driving market concentration with eight companies representing 38% of S&P 500. Manager tracks economic viability risks and energy infrastructure bottlenecks while maintaining exposure despite minimal revenue generation relative to capital deployment. | TTAN TYL AJG ACR |
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| 2025 Q3 | Oct 17, 2025 | Harbor Capital Appreciation Fund | 5.0% | 12.7% | AAPL, ABNB, AMD, AMZN, APP, AVGO, CDNS, DIS, DXCM, GOOG, GOOGL, ISRG, META, MSFT, NFLX, NVDA, NVO, ORCL, SHOP, TOST, TSLA, TSM, TTD, TXN, VRTX | AI, Cloud, E-Commerce, growth, large cap, semiconductors, technology | Artificial intelligence continues to drive market performance with persistent investor enthusiasm for AI and related growth themes. Information Technology sector led by large-cap constituents outperformed all other sectors, with Communications Services also capitalizing on AI momentum. Corporate earnings growth supported by AI development provides fundamental backing for technology-led rally. | ORCL US TOST US AMD US |
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| 2024 Q3 | Oct 17, 2024 | Montaka Global Investments | - | - | AMD, AMZN, BX, CRM, FND, GOOGL, KD, KKR, MA, META, MSFT, NOW, SPGI, SPOT, V | AI, Asset Management, Cloud Computing, Global Equities, long-term, payments, technology | AI revolution is overwhelmingly native to the cloud and will drive incremental growth in cloud usage due to its inherently higher compute intensity. Enormous value can be unlocked through productivity enhancements on the enterprise side and engagement boosters on the consumer side. Most value is unlocked when AI models are married with customer data and meta data, favoring incumbents with decades of dataset building and existing customer bases for distribution. | View | |
| 2025 Q3 | Oct 16, 2025 | Nightview Capital | - | - | AAPL, AMD, AMZN, BABA, NVDA, TSLA, TSM | AI, Automation, Autonomy, China, innovation, Robotics, semiconductors, technology | Global AI investment could exceed $1.5 trillion in 2025, driven by falling compute costs and expanding use cases. The infrastructure phase of AI is creating a multi-decade capital cycle analogous to electrification or highway systems. Cash flow from profitable incumbents is funding this expansion across healthcare, logistics, finance, and manufacturing. | TSLA US TSM US AMD US |
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| 2025 Q3 | Oct 16, 2025 | Magellan Global Opportunities Fund No. 1 | 3.0% | - | ADS.DE, AMD, AMT, AMZN, AVGO, DEO, DISH, ES, GOOGL, MA, META, MSFT, NESN.SW, NKE, NVDA, ORCL, PUM.DE, RKT.L, SAP, SATS, T, TSM, UMG.AS, UNH, YUM | AI, consumer, global, Quality, semiconductors, technology | Renewed enthusiasm in the AI trade has driven markets to fresh highs, with large deals announced by OpenAI with Nvidia, Broadcom, Oracle and AMD. However, these deals are circular in nature and heavily dependent on OpenAI growing and monetising its user base given limited current revenue. While positive on GenAI potential long term, considerable uncertainty remains on pace and degree of monetisation. | View | |
| 2025 Q3 | Oct 16, 2025 | Platinum International Fund | 9.0% | - | AAPL, ABBV, ADBE, AMD, ASML, AVGO, BABA, GOOGL, ICE, INTC, IQV, JNJ, LRCX, MRK, MU, NVDA, NVS, TSM, TTI, UL | AI, China, healthcare, Outperformance, semiconductors, stock selection, technology | Investment plans for artificial intelligence expansion grew consistently, with massive investment spreading through the ecosystem. Technology stocks have been trading on consistent multiples of profits over the past five years, and returns on investment may justify current prices. The focus will be on earnings season when company managements update the market on profits earned and expected. | TSM |
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| 2025 Q3 | Oct 16, 2025 | Platinum Global Fund (Long Only) | 10.0% | - | AAPL, ABBV, ADBE, AMD, ASML, AVGO, BABA, FDS, GOOGL, ICE, INTC, IQV, IT, JNJ, LRCX, MU, NVDA, NVS, TSM, UL | AI, China, global, healthcare, semiconductors, technology | Investment plans for artificial intelligence expansion grew consistently over the quarter, with massive investment spreading through the ecosystem. Technology stocks have been trading on consistent multiples of profits over the past five years, and while investment plans keep rising, so do reported and expected profits from the sector. The focus will be on earnings season with company management updating on profits earned and expected. | IQV UN |
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| 2025 Q3 | Oct 15, 2025 | ARK Invest | - | - | ACHR, AMD, AMZN, AVAV, COIN, CRSP, HOOD, KTOS, PLTR, PSNL, RBLX, RKLB, ROKU, RXRX, SHOP, TEM, TER, TRMB, TSLA, TWST | AI, crypto, defense, Genomics, growth, innovation, Robotics, technology | ARK views artificial intelligence as one of the Five Innovation Platforms that could play an outsized role in pulling the economy out of the rolling recession. The firm expects AI to accelerate productivity gains and economic growth, particularly as businesses harness new technologies to increase productivity and protect margins during periods of pricing power loss. | View | |
| 2025 Q3 | Oct 15, 2025 | Parnassus Core Equity Fund | 2.6% | - | AAPL, AMD, AVGO, AZO, BRO, BSX, CRM, DE, FI, GOOGL, GWW, ICE, INTU, KLAC, LLY, NVDA, ORCL, SYK, TMO, WDAY | AI, Defensive, financials, industrials, large cap, Quality, semiconductors, technology | The Fund maintains offensive positions in AI beneficiaries including hyperscalers, semiconductors and software. The AI buildout continues to exceed expectations, led by U.S. companies that have invested and scaled the technology to drive massive infrastructure transformation. However, rising AI infrastructure investments require greater monetization to avoid overheating. | GWW US BSX US |
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| 2025 Q3 | Oct 15, 2025 | Wealthspire | - | - | AMD, INTC, NVDA | AI, Federal Reserve, growth, Industrial Policy, inflation, Markets, tariffs, technology | AI stands at the front of defining themes for 2025, driving one of the most significant capital expenditure cycles in decades. Major investments include Nvidia's $100 billion investment in OpenAI and new partnerships securing massive chip supply deals. The AI boom is spilling over into manufacturing, healthcare, logistics, and finance, representing a secular transformation with measurable productivity gains. | View | |
| 2025 Q3 | Oct 14, 2025 | Wedgewood Partners | 5.9% | 6.2% | AAPL, AMD, AMZN, AVGO, BKNG, CDNS, CDW, CPRT, GOOGL, META, MSFT, NVDA, ODFL, ORCL, ORLY, PGR, PYPL, SNPS, TSM, URI | AI, Capex, Data centers, growth, large cap, semiconductors, technology | AI infrastructure spending is reaching unprecedented levels with forecasts of trillions in necessary investment. The manager expresses concern about the sustainability of current AI spending plans and the transformation of capex-light tech companies into capital-intensive businesses. They worry about the cyclical nature this will create as depreciation expenses weigh on future earnings. | MSFT US META US PYPL US GOOGL US |
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| 2025 Q3 | Oct 13, 2025 | 103 Advisory group | - | - | AAPL, AMD, AMZN, CSCO, GOOGL, META, MSFT, NVDA, ORCL, TSLA | AI, Bubble, Fed, rates, small caps, technology, Valuations | AI bubble concerns are growing as mega-cap tech companies have more than doubled AI-related capital expenditures since ChatGPT's launch. Hyperscalers are expected to spend $340 billion on AI infrastructure in 2025, nearly 1% of U.S. GDP. OpenAI's $500 billion valuation and circular financing arrangements with Nvidia and AMD mirror dot-com era vendor financing patterns. | View | |
| 2025 Q3 | Oct 12, 2025 | Macquarie Large Cap Growth Fund | 4.7% | 8.4% | AAPL, AMD, AMZN, DHR, EQIX, GOOGL, ICE, IDXX, INTC, INTU, LLY, MA, META, MSFT, NFLX, NVDA, ORCL, TSLA, TSM, V, VMC | AI, growth, large cap, Quality, semiconductors, technology | AI stocks have been the primary driver of market returns, accounting for roughly 75% of market gains. The fund has significant exposure to companies already benefiting from AI, as well as future beneficiaries. However, many aspects remain uncertain including business models, applications, regulation, power consumption, and hardware requirements. | EQIX AMD VMC INTU ICE |
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| 2025 Q3 | Oct 11, 2025 | Torre Financial | 1.7% | 6.5% | ADBE, AMD, AMZN, ANET, ASML, CRM, FDS, GOOGL, INTU, MELI, META, MSFT, NVDA, ORCL, TMO, TSM | AI, growth, healthcare, Quality, semiconductors, technology, Valuations | AI-related capex spend is boosting the stock market with hyperscalers spending nearly $450 billion in 2025. The AI economy including semiconductors, energy, and data center construction have been clear winners while the rest of the market has struggled. Many large AI infrastructure deals have been announced, benefiting companies like Nvidia, OpenAI, Oracle, and AMD. | View | |
| 2025 Q3 | Oct 10, 2025 | Headwaters Capital Management, LLC | -2.9% | -5.4% | AMD, AMZN, BSY, BYD, DRVN, GOOGL, INSP, MEDP, META, MSFT, NVDA, ORCL, VVV | AI, Auto Aftermarket, Biotechnology, Bubble, Capex, mid cap, value | Manager believes AI infrastructure spending represents a massive capital cycle similar to telecom buildout in late 1990s, with hyperscalers spending $405B annually by 2026. Views current AI investment as unsustainable earnings bubble driven by elevated CAPEX rather than valuation bubble. Cites Oracle-OpenAI $300B contract as example of irrational economics requiring OpenAI to reach Google Search scale in two years. | View | |
| 2025 Q3 | Oct 10, 2025 | Moon Capital Management | - | - | AMD, AMZN, GOOGL, IONQ, KO, META, MSFT, QBTS, QUBT, RGTI, WMT | AI, Bubble, fundamentals, risk, technology, Valuations, value | Manager draws extensive parallels between current AI investment mania and the late 1990s dot-com bubble. The four major hyperscalers are collectively spending hundreds of billions on AI infrastructure, with Microsoft alone expected to spend over $100 billion this year. Despite genuine technological potential, valuations have reached levels that far exceed realistic expectations, with companies like OpenAI valued at $500 billion while burning significant cash. | View | |
| 2025 Q3 | Oct 10, 2025 | Sandhill Investment Management | - | - | AJG, AMD, BA, CR, NVDA, ORCL, TTAN, TYL | aerospace, AI, diversification, healthcare, insurance, software, Valuations | AI capital expenditure boom continues driving market returns since ChatGPT's release. AI-related stocks account for 75% of market returns and 90% of capital spending. Manager sees potential bubble risks around economic viability and energy infrastructure constraints for data centers requiring enormous power. | AJG CR |
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| 2021 Q3 | Oct 10, 2021 | The Sound Shore Fund | -3.7% | - | AMD, AMZN, BBBY, BHG, CASI, CCI, CRUS, EGHT, EVRG, GBX, GOOGL, LPX, MBIO, META, NSC, SAVA, SPY, TCS, UPWK, VRTX, VST, XOM | Cash, dividends, energy, inflation, Insider Trading, oil, Stagflation, Utilities | EVRG |
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| 2025 Q3 | Oct 1, 2025 | Rigden Capital Strategies | - | - | AMD, AVGO, DAL, DECK, GS, HOOD, IT, JPM, LULU, MSTR, NVDA, PLTR, SMCI, SNOW, STX, TTD, UNH, WDC | AI, earnings, Fed policy, Market Rally, semiconductors, technology, Trade Policy, Valuations | AI euphoria continued to electrify markets, lifting tech stocks 15% on average with semiconductors up 25%. Hyperscalers' massive capex plans drove the theme, which permeated beyond hardware to firms like Palantir and Snowflake, contributing to 60% of the S&P's gains. | View | |
| 2022 Q4 | Oct 1, 2023 | White Falcon Capital Management | 6.0% | 8.5% | AMD, CPLFF, DSEY, EPAM, FTCH, Gold, MAXR, Precious Metals | - | View | ||
| 2025 Q4 | Jan 30, 2026 | PGIM Jennison Global Opportunities Fund | -4.1% | 5.3% | AAPL, AMD, AMZN, APP, CRWD, GEV, GOOGL, ITX.MC, MSFT, NET, NFLX, NTDOY, NVDA, ORCL, RMS.PA, SE, SHOP, TSM | AI, consumer, Data centers, global, growth, semiconductors, technology | The team is a big believer in the massive paradigm shift to GenAI and expects leadership in accelerated computing, agentic applications, search, robotics and autonomous driving to move dynamically. Jennison plans to execute with fluidity in this rapidly evolving set of opportunities that cross into multiple sectors. The most interesting part of the Fund, with the strongest secular growth profile, seems to be the most controversial in the market and centers on the massive paradigm shift to GenAI. The massive data center buildout is leading to a surge in demand for alternative and traditional energy generation. This trend led Jennison to add GE Vernova to the Fund's Industrials sector for their natural gas turbine, wind, and electrification businesses. Taiwan Semiconductor rose on record profitability as AI demand continues to exceed expectations. Jennison initiated a position in Advanced Micro Devices as the team believes the use of GPUs for agentic AI applications will continue to expand and customers of NVIDIA are looking for second sources. | GEV |
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| 2025 Q4 | Jan 30, 2026 | Antipodes Global Fund | - | - | AAPL, AMD, AMZN, ASAI, BEKE, BMRI.JK, CRM, Gold, GOOGL, HON, HYMTF, JCI, LLY, META, MRK, SIEGY, STM, TCEHY | AI, cyclicals, financials, global, healthcare, industrials, materials, technology | Portfolio increased exposure to structural investment trends, namely software, while reducing hardware exposure. AMD benefited from landmark agreement with OpenAI to supply 6 gigawatts of high-performance graphics chips and broader investor rotation into AI infrastructure. Barrick Mining rose sharply underpinned by fresh wave of investor enthusiasm for gold, with record bullion prices boosting revenue, margin and earnings estimates. Portfolio reduced exposure to gold via exiting Valterra Platinum following rapid price moves. Amazon's AWS business re-accelerated growth to 20% year-on-year, the fastest pace in several years, as the company sees strong demand. Portfolio increased exposure to Amazon partly based on infrastructure business winning market share. STMicroelectronics detracted with sentiment dented by softer demand in key end markets, notably automotive and industrial chips. AMD surged on chipmaker's landmark agreement with OpenAI and broader AI infrastructure rotation. | View | |
| 2025 Q4 | Jan 30, 2026 | Antipodes Global Value Fund | 0.0% | 0.0% | 005380.KS, 0700.HK, AMD, AMZN, ASAI3.SA, BABA, BEKE, BMRI.JK, CRM, GLOB, Gold, GOOGL, HON, IWG.L, JCI, META, MRK, SIE.DE | consumer, financials, global, healthcare, industrials, materials, technology, value | Portfolio increased exposure to structural investment trends in software while reducing hardware exposure. AMD benefited from landmark agreement with OpenAI for high-performance graphics chips. Meta's AI-driven ad impressions growing at double-digit rates, driving revenue growth. Barrick Mining rose sharply on fresh investor enthusiasm for gold with record bullion prices boosting revenue and margins. Portfolio trimmed gold exposure via Valterra Platinum following rapid price moves and positive sentiment around platinum group metals. Amazon's AWS business re-accelerated growth to 20% year-on-year, the fastest pace in several years, driven by strong demand. Infrastructure and retail businesses both winning market share while valuation hovers around 20-year low. Portfolio rotated to process and industrial automation where greater value is seen. Honeywell positioned as leader in aerospace and industrial automation, focusing on building and process automation after business simplification. Hyundai Motor navigating industry transition to electrification with focus on profitability and capital efficiency. Company prioritizing hybrids over pure battery electric vehicles, aligning with consumer preferences as EV demand has stalled. | BMRI IJ 005380 KS HON IWG LN CRM META AMZN AMD GOOG MRK B BMRI IJ 005380 KS HON CRM AMZN 2423 HK TCEHY STM ASAIY AMD GOOG MRK B |
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| 2025 Q4 | Jan 30, 2026 | Alpha Wealth Funds – The Insiders Fund | -0.4% | 30.8% | AMAT, AMD, APPF, AXON, ET, GOOGL, INTC, LLY, LRCX, MRVL, NKE, NSC, NUE, ROK | AI, Automation, Industrial, Manufacturing, Onshoring, semiconductors, technology | Geopolitical events and government incentives like the U.S. CHIPS Act are driving monumental investment to localize advanced semiconductor manufacturing in the U.S. and allied nations. This builds resilience and meets future demand from AI, 5G/6G, and advanced auto. The fund seeks direct beneficiaries of this capital expenditure cycle. Focus expands beyond Generative AI and LLMs to Physical AI—the integration of AI/ML into autonomous physical systems and advanced robotics. The next wave of productivity will come from intelligent machines executing complex real-world tasks. This includes foundational AI infrastructure, Edge AI hardware, and advanced Industrial/Service Robotics. The fund is positioned around the thesis that the U.S. Government will spend whatever amount necessary to assist the government-private industry partnership to reshore the semiconductor industry. Companies like Applied Materials dominate wafer fabrication equipment as AI, advanced packaging, and memory capex ramp globally. Broader echo of the semiconductor trend covering other critical industries like rare earth metals, batteries, and pharmaceuticals where focus is shifting from lowest-cost sourcing to supply chain resilience. The fund targets companies establishing highly automated, next-generation domestic production capabilities. | NSC INTC MRVL NUE ROK AMAT APPF ET GOOG |
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| 2023 Q4 | Jan 30, 2024 | Nightview Capital | 10.9% | 79.1% | ABNB, AMD, AMZN, DIS, GOOGL, INTC, NVDA, TSLA, Z | AI, Concentration, disruption, growth, long-term, technology, Tesla, value | AI is creating profound opportunities and risks across industries, similar to the Internet in the 1990s. The manager views AI as having no boundaries - all businesses must leverage new technologies to stay competitive. They see a second wave of AI beneficiaries emerging in cloud service providers like Amazon and Google, who are well-positioned in the technology stack to benefit from increased AI spending. | DIS 000001.SZ ABNB ACGL|CHH|FDS|GWRE|IBKR|IDXX|MTN|SPOT|TSLA |
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| 2024 Q4 | Jan 3, 2025 | Ghosh Capital | 11.4% | - | ADBE, AMD, ASML, BRZE, CRWD, CSU.TO, GOOGL, HOOD, KPG.AX, KSI.TO, MELI, MU, NVDA, SPGI, TEAM, V, WDAY | AI, Cloud, compounders, Concentration, growth, semiconductors, technology, value | Manager discusses AI as a key investment theme, highlighting Alphabet's decades of AI research leadership and Sergey's return to work on AI. Notes that AI-enabled search over Jira and Confluence represents perfect GenAI use cases for B2B settings. Views Adobe's video generation capabilities and AI tooling as underappreciated by the market. | View | |
| 2025 Q4 | Jan 29, 2026 | Ashva Capital Management | 0.0% | 0.0% | AAPL, AMD, AMZN, COST, CSCO, DIS, GOOGL, HIMS, META, MU, NFLX, NVDA, PLTR, SPOT, UBER, WMT, ZG | AI, Compounding, long-term, Quality, semiconductors, technology, US, value | The manager discusses whether AI represents a bubble, comparing current valuations to traditional retailers like Costco and Walmart trading at higher forward P/E multiples than NVIDIA. He argues that we cannot be in an AI bubble when defensive stocks trade at higher multiples than leading AI companies. The discussion emphasizes that AI-driven demand is creating structural changes in memory and semiconductor markets. Memory semiconductors are highlighted as no longer being a commodity business driven by PC cycles, but rather a strategic input for AI, cloud infrastructure, and data-intensive workloads. The supply side has consolidated with fewer rational players, higher capital intensity, and better pricing discipline. Micron is positioned to benefit from AI-driven demand and improved industry structure. The manager emphasizes owning high-quality U.S. businesses that compound intrinsic value over time. He argues that obvious, high-quality businesses are not a failure of imagination but recognition of reality, as the modern internet economy rewards scale and dominant positions. Quality businesses can deliver asymmetric returns through duration of dominance. Valuation discipline is emphasized as critical to long-term success, with the manager noting that overpaying can cause long-term returns to go sideways. The portfolio deliberately avoided chasing narrow market leadership at elevated valuations, accepting short-term underperformance to preserve long-term risk-adjusted outcomes. Value creation comes from buying quality businesses at rational prices. | DIS AMD MU |
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| 2025 Q4 | Jan 27, 2026 | Fawkes Capital Management | 5.4% | 35.5% | 000660.KS, 0300.HK, AMAT, AMD, INTC, LRCX, TSM | AI, Asia, Bubble, Equipment, infrastructure, semiconductors, technology | AI infrastructure investment could reach $400 billion in 2026, equivalent to 1.5% of US GDP, potentially doubling economic growth. Unlike the dotcom bubble, AI infrastructure must scale dynamically with usage as demand is real and immediate. However, AI remains largely uneconomic with only 5% of ChatGPT users paying for services. Global chip shortage driven by accelerating AI demand has caused memory chip prices to triple in 2025. Intel and AMD are flagging logic chip supply constraints while leading foundries like TSMC and SK Hynix announced double-digit capex increases, pointing to significant equipment demand. | 8637 HK |
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| 2025 Q4 | Jan 26, 2026 | Impax US Sustainable Economy Fund | 4.2% | 16.0% | AAPL, AMD, AMZN, AVGO, CLX, CPB, GIS, GOOG, GOOGL, JNJ, LLY, MA, META, MRK, MSFT, NVDA, ORCL, PLTR, STT, V, ZTS | AI, Esg, healthcare, large cap, Pharmaceuticals, semiconductors, sustainability, technology | AI-related companies experienced volatility due to concerns over elevated capital expenditures and returns on large-scale data center investments. Advanced Micro Devices surged on strong demand for AI-optimized chips and data center processors, benefiting from partnerships with hyperscale cloud providers and record GPU sales for AI workloads. Eli Lilly announced a significant agreement with the Trump administration for extended coverage of GLP-1 weight loss drugs within Medicare and Medicaid programs. This created substantial new market opportunities and alleviated concerns about stringent drug pricing. Health Care sector rallied following Trump administration agreements with major pharmaceutical firms to reduce Medicaid drug prices. Companies like Eli Lilly, Merck, and others benefited from robust sales growth, positive clinical trial results, and improved market access for key medications. The portfolio's sustainability tools were key performance drivers, with industry tilts from the Sustainability Lens and Corporate Resilience profiles both benefiting returns. Companies with higher Corporate Resilience scores outperformed while those with poor scores like Meta and Palantir were excluded and underperformed. | View | |
| 2024 Q4 | Jan 22, 2025 | Peak Asset Management | - | - | AJG, AMD, BA, CR, NVDA, ORCL, TTAN, TYL | aerospace, AI, Concentration, healthcare, insurance, software, valuation | AI capital expenditure boom continues driving market concentration with eight companies representing 38% of S&P 500. Manager questions sustainability given minimal revenue generation versus massive capital deployment into data centers. Energy constraints pose potential bottlenecks for ambitious growth projections. | TTAN TYL AJG CR CR TTAN CR TYL AJG CR |
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| 2025 Q4 | Jan 21, 2026 | Advisors Capital | - | - | AAPL, AMD, AMZN, AVGO, GOOGL, META, MSFT, NVDA, ORCL, SLB, TSLA | AI, energy, Geopolitical, inflation, productivity, technology, Venezuela | AI-driven capital spending remains a powerful force propelling company valuations higher over the past three years. AI adoption is proceeding rapidly with productivity gains helping offset wage pressures and containing inflation. The technology is displacing many jobs while reducing business costs, creating an almost ideal environment for stock prices. The capture of Nicolás Maduro represents a dramatic change in U.S. foreign policies under the Monroe-Trump Doctrine. This signals a more assertive approach to countering hostile regimes in the Western Hemisphere, with implications for Cuba, Iran, and China's strategic positioning in Latin America. Venezuela's leadership change may lower global oil prices and benefit energy companies and oilfield service providers. Oil prices are likely to decline further with positive economic consequences globally, boosting real household income and helping reduce inflation measures. Inflation has moderated meaningfully from its 2022 peak and while it remains above the Fed's target, pressures are expected to ease further into 2026. AI-driven productivity gains may help offset wage pressures, keeping inflation and interest rates relatively contained. | View | |
| 2025 Q4 | Jan 21, 2026 | Platinum International Technology Fund | 0.0% | 13.0% | AMD, AMZN, ANET, ASML, AVGO, CPNG, ENR.DE, GEV, ISRG, LRCX, MA, MSFT, NVDA, RHM.DE, SAP, SHOP, TSM, UBER, VEEV, VRT | AI, Capex, Data centers, defense, energy, growth, semiconductors, technology | AI disruption is reshaping consumer internet companies and hyperscalers as OpenAI's growth shifts attention from traditional platforms. The industry remains in an arms race to secure capacity for training larger models, funded by big tech balance sheets. AI agents threaten existing paradigms in consumer tech and could cannibalize advertising revenues while potentially making platforms commoditized. Around a third of the Fund is invested in companies benefiting from AI datacenter buildout including Nvidia and Vertiv. The manager expects big tech capex growth of ~35% year-on-year is too conservative, with TSMC AI wafers revenue growing ~60% YoY and advanced packaging capacity growing ~70% YoY. Lower interest rates and AI's role in US-China competition could prolong this cycle. Semiconductor names like TSMC and Lam Research were key contributors this quarter, reflecting expectations that new capacity will be needed in 2026 to support AI compute growth. TSMC is viewed as a key bottleneck in the AI value chain as the only company who can make leading edge AI chips at scale. The fund initiated positions in Siemens Energy and GE Vernova, both sitting in an oligopoly supplying combined-cycle gas turbines to utilities and data centers. With US power shortages and rising electricity prices, both companies are expected to add capacity, driving volumes and margins above consensus. Five percent of the Fund is invested in defense companies such as Rheinmetall and Exosense. The manager sees the beginning of a decade-long capex cycle driven by multi-polar geopolitics, the emerging need to integrate disparate hardware systems, and the growth of AI applications in unmanned system platforms. | 2330 TT VEEV TSM UBER J |
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| 2025 Q4 | Jan 21, 2026 | NCG Large Cap Growth Strategy | 1.0% | 15.3% | AAPL, AMD, GE, GHI, GOOGL, HOOD, KNSL, MDB, MSFT, NFLX, ORCL, PGR, ROKU, SAIA, SPOT | active management, growth, Outperformance, Quality, small caps, technology | The firm emphasizes investing in high-quality growth companies with proven business models and sustainable growth drivers. They note that quality factors worked against active managers in 2025, with low-quality stocks significantly outperforming high-quality names. Small cap earnings growth turned positive during 2025 and is expected to stay positive and potentially accelerate in 2026. Small caps continue to trade at a relative discount to large caps, presenting an opportunity for this discount to narrow. The firm maintains significant exposure to AI infrastructure and sees an accelerated pace of innovation happening across various industries. Their technology holdings are diversified across AI infrastructure among other areas. | View | |
| 2025 Q4 | Jan 21, 2026 | Meridian Contrarian Fund | 2.2% | 0.0% | AMD, AMSC, ATZ.TO, AXS, CACI, CCK, DLTR, FCNCA, HNST, LASR, MIR, NVST, PENG, TCBI | AI, contrarian, defense, energy, semiconductors, small cap, turnaround, value | The fund continues to see long runways supporting artificial intelligence as a core theme. AI-related earnings drove early-period performance in the quarter. AMD made progress establishing its GPU servers as a viable alternative to Nvidia's offerings in the AI space. AMD emerged from underperformance with competitive technology positioning against Intel and Nvidia. The company's GPU servers are establishing viability as alternatives to Nvidia in AI applications. Technology leadership is generating market share gains and improved profits. Defense represents one of the portfolio's core themes with long runways for growth. The fund holds positions in defense-related companies including those serving naval programs and defense electronics applications. Electric grid upgrades represent a significant growth driver for portfolio companies. American Superconductor is positioned to benefit from demand for electric grid infrastructure improvements and expanding power transmission needs. The portfolio benefits from electrification and power themes as core investment areas. Companies are positioned to capitalize on rising power demand, wind power expansion, and infrastructure investment in the energy transition. | AMD ATZ CN DLTR HNST AMSC PENG |
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| 2025 Q4 | Jan 21, 2026 | Harbor Capital Appreciation Fund | 0.8% | 14.0% | AAPL, AMD, AMZN, APH, AVGO, CDNS, GOOG, GOOGL, ITX.MC, LLY, LPLA, META, MRK, MSFT, NFLX, NKE, NOW, NVDA, TSLA, TSM | AI, growth, healthcare, large cap, semiconductors, technology | AI infrastructure spending concerns weighed on some positions like Microsoft and Meta, while AI-driven demand supported Taiwan Semiconductor's advanced manufacturing nodes. The fund initiated a position in Amphenol to benefit from AI infrastructure connectivity needs. Eli Lilly recovered during the quarter amid renewed optimism about its GLP-1 obesity and diabetes franchise, supported by improved visibility on pricing. The company remains a key growth driver in the healthcare sector. | MRK APH |
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| 2025 Q4 | Jan 21, 2026 | White Falcon Capital Management | 5.6% | 28.4% | AFN.TO, AMD, AMZN, ATZ.TO, CSIQ, EPAM, FNV, GRFS, HUN, NFI.TO, NU, RGLD, RTO.L, TFPM, W | AI, Chemicals, Cyclical, gold, semiconductors, Solar, technology, value | AMD is positioned as a high-performance computing leader that has taken market share from Intel and emerged as credible No. 2 in GPUs behind Nvidia. Management has guided to approximately $10 in EPS for FY2027E and more than $20 in EPS by 2030E, suggesting significant upside potential. EPAM was initially deemed an AI loser but the market is realizing that corporations need core systems modernized before AI deployment, custom agents require high-end development, and EPAM can incorporate AI into its delivery organization. The AI sector shows characteristics of frothy environment with elevated valuations. Solar has quietly become the cheapest source of power in many places without subsidies. Canadian Solar was trading at roughly a quarter of its sum-of-the-parts value due to depressed sentiment. Solar stocks have become AI beneficiaries as solar plus storage is seen as viable option to supply clean power to datacenters. Precious metals holdings in Royal Gold, Triple Flag and Franco-Nevada were responsible for a third of gains this year. Gold was up 64% and silver up 146% for the year. The allocation was intended to serve as a hedge against macroeconomic volatility. Huntsman operates as a focused specialty chemicals company with three primary segments. The MDI market faces supply glut and pricing pressure but longer-term green building standards drive demand. The company has high operating leverage and potential to benefit when the industry cycle turns. | HUN NFI NU EPAM AMD |
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| 2024 Q4 | Jan 21, 2025 | Kovitz Core Equity | 2.4% | 19.9% | AMAT, AMD, AMTM, AMZN, CRM, GOOG, GOOGL, LVS, NVDA, TMO, TSLA | AI, large cap, semiconductors, technology, US, value | AI enthusiasm is driving massive capital spending by hyperscale cloud providers, with semiconductor stocks returning 76% in 2024. However, the manager notes that investments are being made before returns are proven, creating potential risk if reality doesn't match expectations. The portfolio includes AI-exposed holdings like AMD, Arista Networks, and Applied Materials. | LVS TMO AMAT AMD AMTM GOOGL CRM AMZN |
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| 2025 Q4 | Jan 20, 2026 | Sawgrass Asset Management – Large Cap Quality Growth | 3.2% | 0.0% | AMAT, AMD, AVGO, AZO, CMCSA, DHR, INCY, LLY, NOW, UTHR, WDAY, ZTS | AI, Biotechnology, growth, healthcare, Quality, Rotation, semiconductors, technology | Doubts about the circularity of AI revenue deals began to surface, with some chip stocks avoiding negative sentiment while software stocks were depressed by AI threats to subscription revenues. Investors posit that coming AI efficiencies could reduce future subscription volumes for software companies. Chip-related stocks helped portfolio performance as some avoided negative sentiment plaguing other AI/chip stocks. Advanced Micro Devices, Broadcom, and Applied Materials performed well despite broader concerns about AI revenue circularity. Biotech stocks contributed positively to strong Q4 performance as part of broad rotation into healthcare sector. Incyte and United Therapeutics were specifically mentioned as contributors to portfolio gains. | View | |
| 2025 Q4 | Jan 20, 2026 | Harding Loevner Global Small Companies | 0.4% | 8.5% | AAPL, ADBE, AMD, AMZN, AVGO, CRM, CSCO, GOOGL, IBM, INTC, META, MSFT, NFLX, NOW, NVDA, ORCL, PYPL, QCOM, TSLA, TXN | global, healthcare, momentum, Quality, small caps, technology, value | The manager emphasizes quality-growth investing that demands relentless skepticism toward market narratives and constant scrutiny of company fundamentals. They focus on financially strong, well-managed companies with durable competitive advantages operating in industries poised for long-term growth. The letter discusses how price momentum is a well-documented phenomenon where securities whose prices have risen are more likely to keep rising in the short run. When momentum takes hold, fundamentals usually fade from view while narratives are used to justify price moves. AI enthusiasm has lifted hardware and semiconductor stocks while weighing on shares of software and services holdings. The manager notes that many AI-related winners lack clear basis for continuing, with some companies barely connected to the AI theme benefiting from momentum. Gold is trading at its highest inflation-adjusted level in five decades, but it is a volatile commodity. Gold-mining companies have not had a great history of profitability other than when prices are unusually high, making the current rally questionable for long-term returns. | 2344 TT DIA IM 298380 KS |
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| 2025 Q4 | Jan 18, 2026 | Ithaka US Growth Strategy | -6.1% | 4.5% | AMD, AMZN, AVGO, BX, CRDO, ELF, GOOG, HWM, ISRG, LLY, META, MRVL, NFLX, NOW, ORCL, SHOP, TTD, UBER, VEEV | AI, concentrated, growth, large cap, technology | The AI megatrend remains a vital secular tailwind with massive global investment providing significant economic buffer. 2026 will be the year of the Show Me phase where AI-driven revenue begins to offset massive capital expenditures. Companies are reporting tangible productivity gains from AI implementation across sectors, with examples including Uber's routing optimization, Howmet's manufacturing efficiency improvements, and Meta's conversion rate increases. AMD posted strong earnings and guided to 35% revenue CAGR driven by soon-to-be launched MI450 and MI500 series products, putting it in more direct competition with NVIDIA in rack scale architecture. The semiconductor sector continues to benefit from AI infrastructure buildout despite valuation concerns. Google Cloud Platform continues growing as part of Alphabet's diversified technology ecosystem. ServiceNow faces fears that software applications could be disintermediated by AI native products, driving multiple compression despite strong fundamental growth. Intuitive Surgical delivered massive earnings beat with da Vinci robotic surgical system continuing to generate high-margin recurring revenue from growing global installed base of 10,200 units. The MedTech sector has fallen out of favor with compressed valuations despite strong fundamentals. Netflix faced headwinds from surprise $83B bid to acquire Warner Bros Discovery requiring $50B in new debt, sparking leverage concerns and departure from traditional build-not-buy strategy. The company also faced $620M tax charge from Brazilian authorities dispute. | VEEV NOW GOOG AMD ISRG |
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| 2025 Q4 | Jan 18, 2026 | Titan Wealth | - | - | ADBE, AEM, AMD, AU, BKR, CAT, COIN, DIS, GLEN.L, GOOGL, IBKR, LLY, LMT, MELI, MOS, MU, NFLX, ORCL, PHG, RELX, SE | AI, commodities, defense, emerging markets, Geopolitical, global, infrastructure, technology | AI is described as not just a sector theme but a foundation for broad economic transformation that will reshape how businesses operate, products are developed, and services are delivered. The technological momentum is reflected in market behavior with strong equity gains driven by optimism about ongoing earnings growth and innovation-driven expansion. Semiconductor companies benefited from AI spending throughout 2025, with specific mentions of AMD benefiting from OpenAI's compute and chip commitments, and Micron Technology providing exposure to high-bandwidth memory as a bottleneck in chip development. Defense positioning includes exposure to missiles, air defense and space through companies like Lockheed Martin, supported by large order backlogs providing strong long-term visibility amid heightened geopolitical tensions. Gold exposure through miners like AngloGold Ashanti and Agnico Eagle Mines contributed meaningfully to returns as stronger precious metal prices translated into higher cash generation for miners, with positioning for sustained tensions around currency debasement. Energy transition themes are reflected through infrastructure investments and companies positioned for the global push toward renewable energy, including exposure to energy services and LNG infrastructure where long-term dynamics look positive. Cryptocurrency exposure through Coinbase reflects positioning for financial deregulation and disintermediation, with stablecoins expected to become a preferred transfer mechanism following regulatory developments like the GENIUS Act passage. | View | |
| 2025 Q4 | Jan 18, 2026 | Parnassus Core Equity Fund | 1.6% | 11.6% | AAPL, AMAT, AMD, AZO, BALL, BRO, CRM, DHR, EFX, FISV, GOOGL, HD, KLAC, LIN, LLY, MSFT, ORCL, TMO, VRTX, WDAY | AI, growth, healthcare, large cap, Quality, semiconductors, technology, value | The fund views AI as a generational demand driver creating durable need for faster, more powerful and energy-efficient computing. They are likely in the early stages of a decade-long AI investment cycle, seeking upside capture while managing risks of rapid technological change, rising competition and growing financial leverage. The gap will widen between AI winners versus AI losers, favoring active portfolio management. The fund maintains exposure to semiconductor companies benefiting from AI-driven demand. Applied Materials and KLA gained from sustained AI-driven semiconductor demand with improving customer outlooks. The portfolio includes semiconductor manufacturing equipment suppliers and chip designers positioned for the AI infrastructure build-out. The fund invests in hyperscalers and cloud infrastructure companies. Alphabet showed improving growth in its cloud segment and renewed confidence in its vertically integrated AI strategy. The portfolio includes companies providing cloud services and infrastructure supporting the AI transformation. The fund holds pharmaceutical companies like Eli Lilly, which rebounded sharply as concerns around pricing, penetration and competitive dynamics for GLP-1 weight-loss drugs eased following stronger-than-expected demand data. The portfolio favors companies that continue to innovate to improve patient outcomes. The fund invests in life science tools companies such as Danaher and ThermoFisher that provide valuable equipment and services for clinical research. These companies benefited from improving sentiment around life sciences end markets as pharmaceutical customers signaled higher-than-expected spending on research and development. | View | |
| 2025 Q4 | Jan 18, 2026 | Parnassus Value Equity Fund | 5.4% | 19.0% | A, AMD, BAC, BALL, BK, CBRE, CMCSA, CMI, CMS, DE, GOOGL, GPN, HD, JPM, MA, MSFT, MU, NICE, NVO, ORCL, REGN, SCHW, SPGI, SYY, WDC, WM | AI, financials, healthcare, large cap, Quality, technology, value | The broadening AI megatrend continues to fuel demand across sectors, with AI developments boosting returns particularly in Industrials. The manager believes AI has potential to impact every sector over time, driving productivity gains and business model innovation across a much broader range of industries than currently appreciated by investors. Value stocks outperformed growth stocks in Q4 as high market valuations for growth stocks create attractive risk/reward potential in value stocks. The manager expects the current market environment to continue favoring value stocks given elevated growth stock valuations and relatively benign economic backdrop. Strong growth in distribution and power systems segments driven by data center demand, with companies like Cummins benefiting from robust sales results. Data center demand is supporting performance across multiple portfolio holdings. | WM HD WDC |
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| 2023 Q4 | Jan 15, 2025 | Longriver Investment Partners | 9.3% | 10.0% | 0700.HK, 600519.SS, 9988.HK, AHT.L, AMD, AMZN, BRK-B, EVO.ST, GAW.L, HD, HDB, KNSL, META, NFLX, NTES, PDD, SHOP, SQ, TSM, VTY.L, X | China, efficiency, global, Homebuilders, real estate, technology, value | 2023 was remarkable for how decisively corporate leaders confronted bloat, with Meta's Year of Efficiency as the poster child. Zuckerberg reduced headcount by almost a quarter and operating expenses by fifteen percent, leading to exploding margins. Amazon under Jassy is also focusing on efficiency by reducing headcount, shutting down middling projects, and creating new business models like Amazon 3PL. | VTY.L AHT.L AMZN |
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| 2024 Q4 | Jan 15, 2025 | ARK Invest | - | - | ACHR, AMD, ARKB, AVAV, BFLY, CDNA, COIN, DM, MELI, NTLA, NU, PLTR, QSI, RKLB, SMWB, SOFI, SPNS, TER, TXG, XMTR | AI, crypto, Deflation, Genomics, innovation, Recession, Robotics, technology | ARK expects AI to play an outsized role in pulling the economy out of rolling recession by driving productivity growth and creating new products and services. The firm believes the most important AI investment opportunities are associated with disruptive innovation, suggesting winners and losers will be surprising. ARK advocates for diversified exposure to the AI revolution, particularly software applications underrepresented in broad-based benchmarks. | View | |
| 2025 Q4 | Jan 14, 2026 | Longriver Investment Partners | 5.8% | 17.8% | 0700.HK, 3639.HK, 9435.T, ALAB.L, AMD, AMZN, CSU.TO, FUTU, GAW.L, META, NVDA, PDD, RELY, STRP, TCOM, TSM, WISE.L | Asia, Concentration, gaming, global, long-term, payments, semiconductors, value | Wise represents the most asymmetric investment in the portfolio, taking market share from legacy correspondent banking through cheaper, faster, and more transparent infrastructure. The company is evolving from a remittance app into a global financial services platform with three reinforcing routes to market: Consumer, Business and Platform. TSMC was highlighted as both a top contributor in 2025 and the largest positive contribution since inception at ~16ppt of gross returns. The company exemplifies the fund's approach of finding businesses that can reinvest well over the long term. Games Workshop was identified as a largest contributor in 2025 and also contributed meaningfully in 2024, demonstrating that patience pays when a business is delivering consistent results over multiple years. | WISE LN |
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| 2025 Q4 | Jan 14, 2026 | ARK Invest | 0.0% | 0.0% | ACHR, AMD, AVAV, COIN, CRSP, DE, GH, GOOG, HOOD, KTOS, PLTR, RBLX, RKLB, ROKU, SHOP, TEM, TER, TRMB, TSLA, TWST | AI, crypto, defense, Genomics, innovation, productivity, Robotics, technology | ARK believes convergences among major platforms like AI, robotics, energy storage, public blockchain technology, and multiomics sequencing should accelerate non-farm productivity growth to 4–6% on a year-over-year basis. AI-related spending boom on data centers and power plants began in late 2022. Strong demand for AI-related chip testing and semiconductor testing across compute, networking, and memory. Robotics is identified as one of the major transformative innovation platforms that should converge with AI and other technologies to drive productivity gains. The ARK Autonomous Technology and Robotics ETF focuses on companies developing autonomous mobility, humanoid robots, and intelligent devices. Energy storage is highlighted as one of the key transformative innovation platforms that will converge with AI, robotics, blockchain, and multiomics sequencing to accelerate productivity growth and economic transformation in the coming years. ARK sees favorable policy shifts around crypto as supportive headwinds shifting into structural tailwinds for innovation. Coinbase faced challenges from weakness in crypto market trading activity, with quarterly spot trading volumes declining 9% quarter-over-quarter. The firm maintains exposure through Bitcoin ETFs and crypto-related companies. Multiomics sequencing is identified as one of the major transformative platforms. The genomics space benefited from increasingly positive sentiment following Abbott's acquisition of Exact Sciences. Companies like Guardant Health and Natera showed strong performance with significant revenue growth and clinical trial successes. Defense spending represents a significant opportunity with the U.S. Army announcing plans to purchase at least one million drones in the next 2–3 years. Companies like Kratos Defense, AeroVironment, and Rocket Lab are positioned in this space, though innovation-based defense stocks experienced broad sell-offs during the quarter. | View | |
| 2025 Q4 | Jan 14, 2026 | Riverwater Partners Small Cap Strategy | 0.0% | 0.0% | ADEA, AMD, ATMU, ATRC, BHST, BKH, CNX, DIS, HSTM, ITGR, KGS, LEU, LMNR, LOPE, MOD, NPKI, PLMR, STKL, VECO, WRBY | AI, financials, healthcare, infrastructure, Natural Gas, nuclear, Quality, small caps | Natural gas stocks benefited from AI theme as potential winners in powering data centers. CNX Resources was the top contributor driven by weather-related price increases and strong company execution. The manager remains encouraged by structural demand drivers for natural gas supporting higher volumes over time. Centrus Energy was positioned at the nexus of U.S. national security, nuclear energy independence, and next-generation reactor deployment. The company benefited from structural shift away from Russian nuclear fuel supply toward domestic enrichment, with rising demand from advanced reactors, SMRs, and nuclear power supporting AI-driven data center load growth. NPK International was added as a way to participate in multi-year infrastructure buildout required to support grid expansion, electrification, and energy system upgrades. The company provides composite matting solutions for utility and energy-related end markets with advantages over traditional timber mats. The manager avoided speculative AI investments but played the theme through picks-and-shovels approach via semicap equipment and utility infrastructure buildout. Natural gas stocks benefited as potential winners in powering data centers. Warby Parker has a call option on smart glasses and AI-enabled eyewear through its partnership with Google. | ITGR HSTM WRBY ADEA NPKI KGS BHST LMNR LOPE LEU CNX |
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| 2024 Q4 | Jan 13, 2025 | Miller Wealth Management | - | - | AAPL, AMD, AMZN, ASML, GOOGL, INPST, MELI, NFLX, NIO, NU, RBRK, SE, TXN, UBER, V | Cloud, E-Commerce, growth, Latin America, payments, technology | Portfolio includes major e-commerce platforms like Mercado Libre expanding across Latin America with new wholesale platform and digital health services. InPost continues UK expansion with Aldi partnership and Post Office trials for parcel lockers. | V RBRK MELI INPST |
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| 2025 Q4 | Jan 11, 2026 | Horizon Kinetics | 0.0% | 0.0% | AAPL, AMD, AMZN, AVGO, GOOGL, ICE, LB, META, MIAX, MSFT, NVDA, ORCL, STR, TPL, VNOM, WTTR | AI, Compounding, energy, Exchanges, long-term, private markets, value, water | The firm avoids direct AI-IT company investments but focuses on beneficiaries of AI infrastructure buildout. They invest in companies controlling necessary resources like natural gas, water, and land for data centers rather than the technology companies themselves. Significant focus on Permian Basin investments through TPL, LandBridge, and WaterBridge. The firm emphasizes water handling infrastructure and land ownership as critical limiting factors for oil production in the region. Long history of investing in securities exchanges from TPL to MIAX to ICE. The firm views exchanges as blue-chip businesses with near-perpetual longevity that don't fail or get displaced. Core philosophy centers on long-horizon value investing with focus on making time work for investors through unbroken compounding. Emphasis on high sustainable return on equity and margin of safety. Water infrastructure is highlighted as a critical limiting factor for both oil production and data center operations. WaterBridge represents a key investment in water handling and disposal infrastructure. | View | |
| 2024 Q4 | Jan 1, 2025 | QuadCap Wealth Management | - | - | AMD, ARM, ASML, AVGO, BABA, BIDU, GOOGL, META, MSFT, NVDA, ORCL, PLTR, SNOW, TSM | AI, China, Cloud, growth, semiconductors, technology | WestEnd maintains concentrated exposure to AI infrastructure through both established leaders and catch-up trades. The firm holds long-term positions in Palantir and Snowflake while adding new positions in AMD, Alibaba, and Baidu to capture different fronts of the AI arms race. These companies are positioned to benefit from enterprise AI adoption and global AI infrastructure buildout. | BIDU BABA SNOW AMD |
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| 2024 Q3 | Sep 30, 2024 | Baron Opportunity Fund | 4.0% | 25.1% | AAPL, ACLX, AMD, AMZN, ARGX, AVGO, CRWD, DUOL, GDS, GWRE, INDIE, IT, MBLY, META, MSFT, NVDA, PAR, SPCE, TEAM, TSLA | AI, Data centers, growth, semiconductors, software, technology, Tesla | The fund views AI as an arms race to develop foundational models and achieve artificial general intelligence. Scaling laws drive massive infrastructure investments, with hyperscalers building data centers at unprecedented scale. New inference architectures like OpenAI's chain of thought models require exponentially more compute power. | View | |
| 2024 Q3 | Sep 30, 2024 | L1 Capital International Fund | 4.7% | 0.0% | AAPL, AER, AMD, AMZN, BKNG, CRH, EXP, GOOGL, HCA, ICE, MA, META, MSFT, NVDA, PFE, PTON, TSLA, UNH, V, ZM | AI, large cap, Quality, rates, technology, US, value | The fund extensively analyzes Nvidia's dominance in AI infrastructure and the broader AI gold rush. While acknowledging AI's transformative potential, the manager expresses concern about Nvidia's $3.2 trillion valuation given high uncertainty around competition, commercialization timelines, and returns on AI investments. | View | |
| 2023 Q3 | Sep 30, 2023 | Octahedron Capital | 0.0% | 0.0% | AAPL, ABNB, ADYEY, AMAT, AMD, AMZN, ASML, AVGO, BKNG, CPNG, CRWD, CVNA, DASH, DBRX, DIS, ETSY, GOOGL, INTC, KVYO, LRCX, MA, MELI, MSFT, NFLX, NU, NVDA, PTON, SNOW, SPOT, TSM, UBER, V, W | AI, Cloud, E-Commerce, payments, semiconductors, Streaming, technology, Travel | Generative AI is driving a platform shift in software and enabling new applications. The industry is transitioning to accelerated computing with data centers making a platform shift from general purpose to accelerated computing. AI investments are capex-heavy but expand software TAM through LLMs enabling software to eat OpEx. | View | |
| 2023 Q2 | Sep 14, 2023 | Spear Advisors | -3.5% | 0.0% | AMD, AMZN, CFLT, CRWD, GOOG, GOOGL, HUBS, META, MRVL, MSFT, NET, NVDA, S, SHOP, SNOW, SPRX, ZS | AI, Cloud, cybersecurity, Data centers, growth, semiconductors, technology | AI is a core theme driving strong performance through hardware and software infrastructure opportunities. The fund focuses on uncovering opportunities across the AI value chain including hardware and related software infrastructure rather than just applications. Strong demand for AI hardware continued in Q2 with cloud service providers allocating significant capex to AI. | CFLT ^FTSE |
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| 2024 Q2 | Jul 31, 2024 | PGIM Jennison Global Opportunities Fund | 2.0% | 23.0% | AAPL, AMD, AMZN, ATCO-A.ST, AVGO, DIS, ETN, FIS, HD, LILLY, MC.PA, MDB, META, MONC.MI, MSFT, NVDA, NVO, PANW, RACE, RMS.PA | AI, global, growth, healthcare, Luxury, technology | The fund benefits from artificial intelligence momentum across multiple holdings. NVIDIA continues to surpass expectations with strong results fueled by data center growth. Apple's share price increased significantly as the company's pace of execution in the AI field and optimism about what they may introduce are additional factors supporting the company's share price gains. | View | |
| 2024 Q1 | Jun 30, 2024 | Spear Advisors | -3.5% | 0.0% | AMD, CRWD, FCX, MRVL, NVDA, S, SNOW, TECK, ZS | AI, cybersecurity, Data centers, materials, semiconductors, software, technology | The fund believes we are in the early innings of the next technology cycle amplified by AI. AI spending last year was mostly focused on processors/GPUs with Nvidia being the primary beneficiary, but this year the impact is broadening both inside and outside the rack. | SNOW CRWD FCX NVDA |
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| 2024 Q2 | Jun 30, 2024 | Baron Opportunity Fund | 4.0% | 25.1% | AAPL, AMD, AMZN, AVGO, CDNS, CRWD, CSGP, DAY, DDOG, EXAS, GWRE, IOT, META, MSFT, NVDA, RCKT, SPOT, TSLA, TSM, VKTX | AI, Cloud, growth, innovation, large cap, semiconductors, software, technology | Manager believes AI is the most significant technological platform shift since the internet, driving explosive growth in infrastructure investments. Currently in the AI infrastructure-build phase with hyperscalers investing $200 billion in capex. Early AI applications showing measurable ROI with 30-60% developer productivity improvements and 15-30% customer service cost savings. | View | |
| 2024 Q2 | Jun 30, 2024 | Harbor Capital Appreciation Fund | 6.4% | 20.9% | AAPL, ADI, AMD, AMZN, AVGO, CRM, DIS, GOOG, GOOGL, LLY, LULU, MA, MDB, META, MSFT, NFLX, NKE, NVDA, SNOW, V | AI, consumer, growth, large cap, semiconductors, technology | Accelerated spending on artificial intelligence infrastructure among hyperscalers continued during the quarter. Near-term disappointment with the pace of developing applications to monetize AI spending weighed on SaaS company valuations, though the fund remains encouraged by AI initiatives that will improve current offerings and drive revenue growth over their investment time horizon. | View | |
| 2024 Q2 | Jun 30, 2024 | Columbia Global Technology Growth Fund | -0.9% | 0.0% | AAPL, ACN, AMD, AMZN, ASML, AVGO, CRM, GOOGL, INTC, LRCX, MA, MSFT, NVDA, SNPS, TSM | AI, global, growth, large cap, semiconductors, technology | AI remains the key market driver since OpenAI introduced ChatGPT in late 2022. Ground-breaking advances in AI reignited interest across technology and strengthened secular growth trends. The AI theme broadened out as investors pondered ramifications of the steadily evolving AI economy, with companies looking to become more productive from this transformative technology. | INTC CRM AMD AAPL AVGO NVDA |
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| 2022 Q2 | Jun 30, 2022 | Baron Opportunity Fund | 4.0% | 25.1% | AMD, AMZN, ARGX, ASML, GOOG, MSFT, NET, NVDA, TSLA | - | View | ||
| 2023 Q1 | May 17, 2023 | Third Point Offshore Fund | 1.1% | -3.0% | AIG, AMD, BABA, BBWI, CL, CRM, CS, DHR, DIS, FIS, GLEN.L, GOOGL, LVMH.PA, MSFT, PCG, SHEL | activism, credit, Hedge Fund, Multi-Strategy, Structured Credit | View | ||
| 2023 Q1 | May 4, 2023 | St. James Investment Company | 0.0% | 0.0% | AAPL, AMC, AMD, AMZN, BAC, BBBY, BP, CRM, GE, GOOGL, HEI, META, MKL, MSFT, NVDA, TSLA | Market cycles, Patience, risk management, Speculation, Valuations, Value Investing | The manager extensively discusses elevated market valuations, comparing current market cap to GDP ratio at 155% to historical peaks in 2000 and 2008. They argue that starting valuations are critical to long-term success and current levels suggest poor future returns of only 3-5% annually. | View | |
| 2023 Q1 | Apr 18, 2023 | White Falcon Capital Management | 6.0% | 8.5% | AMD, AMZN, CVG.TO, DCBO.TO, DSEY, EPAM, MAXR, NU, TECK.TO | Banking Crisis, M&A, Precious Metals, semiconductors, technology, value | Manager notes that markets realized AI and related technologies require significant semiconductors, driving strong performance in AMD position. Views AI as a key driver of semiconductor demand. | DCBO.TO |
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| 2025 Q1 | Apr 14, 2025 | Parnassus Core Equity Fund | -2.4% | -2.4% | AMD, AMZN, AZO, BCOM, BRO, CI, CRM, DE, DHI, GOOGL, ICE, MA, MAR, MSFT, NOW, NVDA, O, SNPS, VZ, WM | AI, Defensive, financials, industrials, large cap, Quality, semiconductors | The portfolio maintains positioning in AI beneficiaries including hyperscalers, semiconductor companies, and software companies that are building the computing foundation of the future. The fund added AMD and ServiceNow during the quarter to strengthen its AI theme exposure. Despite near-term volatility, the managers remain optimistic about long-term opportunities in AI infrastructure providers. | View | |
| 2025 Q1 | Apr 14, 2025 | Parnassus Value Equity Fund | -2.0% | -2.0% | A, ALGN, AMD, AMZN, AVGO, BAC, BIO, CI, DE, GILD, GOOGL, JPM, MA, PGR, ROST, SPG, SPGI, SYY, V, VZ | financials, healthcare, large cap, moats, Quality, technology, uncertainty, value | The fund maintains exposure to AI adoption through cloud and semiconductor companies despite near-term softness. They added Advanced Micro Devices to capitalize on AI accelerator opportunities and the adoption of accelerated computing as AMD's competitive GPUs and CPUs continue to take market share. | JPM AMD |
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| 2023 Q3 | Apr 10, 2023 | Artisan Global Discovery | 7.6% | 13.1% | 0669.HK, ADYEN.AS, AMD, ARGX, BSX, GXI.DE, LSCC, LSEG.L, ON, SWAV, TEAM, VEEV | Biotechnology, global, growth, Medical Devices, payments, software | Argenx is a commercial stage biotechnology company with an approved first-in-class therapy for autoimmune diseases. The company's platform antibody treatment Vyvgart has one indication in market for treating myasthenia gravis that is experiencing a successful launch, with FDA approval for subcutaneous injection version and positive results for CIPD treatment. | SWAV ADYEN TEAM ARGX |
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| 2025 Q1 | Mar 31, 2025 | Harding Loevner International Small Companies Equity | -10.5% | -10.5% | AAPL, ADBE, AMAT, AMD, AMZN, AVGO, CRM, GOOGL, INTC, KLAC, LRCX, META, MRVL, MSFT, NFLX, NVDA, ORCL, QCOM, TSLA, TXN | emerging markets, Europe, growth, international, Japan, Quality, small cap | The manager emphasizes investing in quality-growth small companies with superior profit margins, returns on equity, and balance sheet strength. The portfolio's average profit margin, return on equity, and return on assets exceed benchmark levels, while maintaining healthier balance sheets. | View | |
| 2023 Q1 | Mar 31, 2023 | Meridian Contrarian Fund | 6.9% | 0.0% | AIG, AMD, APA, CARS, CCK, FCNCA, HNST | - | View | ||
| 2023 Q1 | Mar 31, 2023 | Third Point Partners | 3.9% | 14.0% | AIG, AMD, BABA, BBWI, CL, CRM, DHR, DIS, FIS, GLEN.L, GOOGL, MC.PA, MSFT, PCG, SHEL | activism, credit, Equity, Hedge Fund, Multi-Strategy | View | ||
| 2023 Q4 | Mar 28, 2024 | Spear Advisors | -3.5% | 0.0% | AMD, CFLT, CRWD, DDOG, MRVL, NET, NVDA, S, SNOW, ZS | AI, Cloud, cybersecurity, Data centers, ETF, growth, semiconductors, technology | AI is a core theme and biggest driver behind strong 2023 performance. Strong demand for AI hardware continued throughout the year, with fundamental upside broadening to the rest of the value chain in 4Q23. Several companies now expecting revenue run-rates in the billions directly from AI, including Microsoft and AMD. Workloads are shifting from model training to inference, with inference representing 40% of Nvidia Data Center revenues. | View | |
| 2023 Q4 | Jan 27, 2024 | Horizon Kinetics | 0.0% | 0.0% | AAPL, ADM, AMD, AMZN, AN, AVGO, BCHG, BMS.L, CKN.L, CRM, EXP, GBTC, GOOGL, MSFT, NVDA, ORCL, PAG, QCOM, TPL, TSLA | BRICS, China, commodities, crypto, Indexation, inflation, technology, valuation | Bitcoin ETF approval represents institutional acceptance and convergence with traditional financial system. Flash loans and lending markets create new revenue opportunities for ETF providers. Bitcoin Cash offers leveraged exposure to cryptocurrency appreciation potential. | View | |
| 2023 Q4 | Jan 27, 2024 | Baron Opportunity Fund | 4.0% | 25.1% | AMD, AMZN, ARGX, CDAY, CRWD, CSGP, DT, GOOGL, GTOS, GWRE, HUBS, ILMN, INDY, IT, LEGN, LRCX, META, MRVL, MSFT, NOW, NVDA, RIVN, SHOP, SWAV, TSLA, TTD, V, VKTX, WDAY | AI, Cloud, growth, innovation, semiconductors, software, technology | AI is described as real and transformative, not hype, with the fund positioned across the AI stack from semiconductors to cloud services to applications. The manager emphasizes they have been investing in AI for years, predicting it will forever change human-computer interaction through natural language processing. | LRCX AAPL|MSFT|NFLX|NVDA|UNH AMZN AAPL|MSFT|NFLX|NVDA|UNH |
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| 2024 Q4 | Jan 17, 2025 | White Falcon Capital Management | 5.5% | 14.4% | AMD, AMZN, ATZ.TO, CTS.TO, DAVA, EPAM, NFI.TO, NU, PRGO, RTO.L, VALE, XEQT.TO | Brazil, Pharmaceuticals, small caps, technology, turnaround, value | White Falcon gravitates towards opportunities with low expectations and low valuations, particularly in smaller companies left behind in the market rally. The portfolio has shifted more towards 'value today' positioning with significant margin of safety. | View | |
| 2023 Q4 | Jan 17, 2024 | White Falcon Capital Management | 6.0% | 8.5% | AMD, AMZN, CNDT, CTS.TO, DCBO.TO, FTRE, LFCR, NU, ROVR, WBD | Brazil, Fintech, growth, Quality, small caps, technology, value | White Falcon practices value investing by buying businesses for less than they are worth when the market has low expectations. Their style has nothing to do with low current valuations - a stock at 10x P/E can be expensive while another at 30x P/E may be fantastic value. | ARGX BB|DAVA|DDOG|GLOB|ILMN|LOAR|MELI|NET|NU|NVDA|TSM ROVR |
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| 2023 Q4 | Jan 16, 2024 | NZS Capital – Growth | 4.0% | 22.0% | ADSK, ADYEN.AS, AMD, AMZN, ANSS, ASML, BALL, CCJ, DHR, GTLS, MRNA, MSFT, NEE, NVDA, RGEN, SHOP, SWAV, TSLA, TT, WDAY | AI, Cloud, Energy Transition, growth, innovation, semiconductors, technology | AI will have transformational impact on society and the economy, drawing focus outside of IT including healthcare. The FDA approved the first CRISPR/Cas9 gene-edited therapy, marking the precipice of curative therapies. AI is boosting digital transformation of scientific research and accelerating innovation in scientific discovery. | 1102 TT |
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| 2024 Q4 | Jan 14, 2025 | Ithaka US Growth Strategy | 8.2% | 30.2% | ADBE, AMD, AMZN, ANET, ASML, CRM, LULU, MEDP, MELI, NOW, NVDA, PLTR, UBER | AI, concentrated, growth, large cap, technology | Portfolio holdings with significant exposure to the global AI theme outperformed in Technology sector. Palantir's meteoric rise was driven by investor excitement regarding the company's ability to further monetize its AI product across its growing customer base. ServiceNow's stock rose driven by growing investor recognition of the company's dominant position in monetizing AI workloads. | ASML UBER AMD PLTR AMZN NOW |
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| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Jun 5, 2026 | Seeking Alpha | Seeking Alpha | Advanced Micro Devices, Inc. | Semiconductors | Microprocessors | Bear | Nasdaq Stock Market | AI revenue, AMD, Dilution, market position, META, NVIDIA, OpenAI, semiconductors, vendor financing, warrants | View Pitch |
| May 14, 2026 | Seeking Alpha | Seeking Alpha | Advanced Micro Devices, Inc. | Semiconductors | Semiconductor Devices | Bear | Nasdaq Stock Market | AI infrastructure, AMD, data centers, Edge computing, hyperscaler capex, market rally, political backlash, power constraints, semiconductors, valuation risks | View Pitch |
| May 4, 2026 | Seeking Alpha | Seeking Alpha | Advanced Micro Devices, Inc. | Semiconductors | Semiconductors | Bull | Nasdaq Stock Market | AI revolution, capital structure, earnings expectations, financial flexibility, geopolitical risks, market leadership, operating margins, premium valuation, Revenue Growth, semiconductors | View Pitch |
| Apr 28, 2026 | Fund Letters | Meridian Contrarian Fund | Advanced Micro Devices, Inc. | Information Technology | Semiconductors & Semiconductor Equipment | Bull | NASDAQ | AI, Competition, CPU, Gpu, market share, semiconductors, technology, turnaround | View Pitch |
| Apr 28, 2026 | Fund Letters | TMR Long Short Opportunities | Advanced Micro Devices | Information Technology | Semiconductors & Semiconductor Equipment | Bull | NASDAQ | AI infrastructure, Cloud computing, data center, GPUs, market share gains, Partnerships, semiconductors, Server CPUs, Technology Transformation | View Pitch |
| Apr 28, 2026 | Fund Letters | White Falcon Capital Management | Advanced Micro Devices | Information Technology | Semiconductors | Bull | NASDAQ | AI, Chiplet Architecture, Cyclical, diversification, Free Cash Flow, Gpu, semiconductors, technology, TSMC | View Pitch |
| Apr 28, 2026 | Fund Letters | Longriver Investment Partners | Advanced Micro Devices | Information Technology | Semiconductors | Bull | NASDAQ | AI, CPU, Fabless Semiconductor, Gpu, high-performance computing, Intel Competitor, Nvidia Challenger | View Pitch |
| Apr 27, 2026 | Fund Letters | LVS Advisory - Event Driven | Advanced Micro Devices | Information Technology | Semiconductors & Semiconductor Equipment | Bull | NASDAQ | AI infrastructure, Cloud computing, data centers, GPUs, market share gains, semiconductors, Server CPUs, Strategic Partnerships, Technology Transformation | View Pitch |
| Apr 27, 2026 | Fund Letters | African Lions Fund | Advanced Micro Devices | Information Technology | Semiconductors & Semiconductor Equipment | Bull | NASDAQ | AI infrastructure, Cloud computing, data centers, GPUs, semiconductors, Server CPUs, Strategic Partnerships, Technology Transformation | View Pitch |
| Apr 27, 2026 | Fund Letters | Montaka Global Investments | Advanced Micro Devices | Information Technology | Semiconductors & Semiconductor Equipment | Bull | NASDAQ | AI accelerators, Cyclical Recovery, data center, margin expansion, Product cycle, semiconductors, Tactical Investment, Xilinx acquisition | View Pitch |
| Apr 27, 2026 | Fund Letters | Hinde Group | Advanced Micro Devices | Information Technology | Semiconductors & Semiconductor Equipment | Bull | NASDAQ | AI infrastructure, Cloud computing, Cyclical Recovery, data center, GPUs, market share gains, semiconductors, Server CPUs, strategic partnership | View Pitch |
| Apr 26, 2026 | Seeking Alpha | Seeking Alpha | Advanced Micro Devices, Inc. | Semiconductors | Semiconductor Devices | Neutral | NASDAQ Stock Market | AI infrastructure, AMD, data center, earnings report, macro backdrop, Market Expectations, Meta deal, Samsung MoU, semiconductors, valuation | View Pitch |
| Apr 20, 2026 | Seeking Alpha | Seeking Alpha | Advanced Micro Devices, Inc. | Semiconductors | Semiconductor Devices | Bull | Nasdaq Stock Market | AI chips, AMD, CPU demand, earnings per share, Meta Platforms, OpenAI, Revenue Growth, semiconductors, Strategic Partnerships, target price | View Pitch |
| Apr 19, 2026 | Seeking Alpha | Seeking Alpha | Advanced Micro Devices, Inc. | Semiconductors | Microprocessors | Neutral | Nasdaq Stock Market | AMD, Government procurement, Inference tasks, Instinct MI450, Microprocessors, Open AI ecosystem, semiconductors, Silo AI acquisition, valuation risks, ZT Systems acquisition | View Pitch |
| Apr 16, 2026 | Seeking Alpha | Seeking Alpha | Advanced Micro Devices, Inc. | Semiconductors | Semiconductor Devices | Neutral | Nasdaq Stock Market | AI infrastructure, AMD, data center, EPYC processors, growth potential, investment strategy, Meta Platforms, NVIDIA, semiconductors, stock valuation | View Pitch |
| Apr 13, 2026 | Fund Letters | Parnassus Value Equity Fund | Advanced Micro Devices Inc. | Information Technology | Semiconductors & Semiconductor Equipment | Bull | NASDAQ | Accelerated Computing, AI, CPUs, Gaming, GPUs, semiconductors, Servers, technology | View Pitch |
| Apr 13, 2026 | Fund Letters | Harbor Capital Appreciation Fund | Advanced Micro Devices Inc | Information Technology | Semiconductors & Semiconductor Equipment | Bull | NASDAQ | AI, cloud providers, data center, growth, high-performance computing, semiconductors, technology | View Pitch |
| Apr 13, 2026 | Fund Letters | Alger Spectra Fund | Advanced Micro Devices, Inc. | Information Technology | Semiconductors & Semiconductor Equipment | Bull | NASDAQ | Artificial Intelligence, data centers, Equity, Gaming, growth, semiconductors, Server CPUs | View Pitch |
| Apr 13, 2026 | Fund Letters | Columbia Global Technology Growth Fund | Advanced Micro Devices, Inc. | Information Technology | Semiconductors & Semiconductor Equipment | Bull | NASDAQ | AI revenue, Cloud Demand, Enterprise Recovery, market share gains, product launch, semiconductors | View Pitch |
| Apr 13, 2026 | Fund Letters | Opal Capital | Advanced Micro Devices | Information Technology | Semiconductors & Semiconductor Equipment | Bull | NASDAQ | AI infrastructure, Cloud computing, data centers, GPUs, semiconductors, Server CPUs, Strategic Partnerships, Technology Transformation | View Pitch |
| Apr 13, 2026 | Fund Letters | Montaka Global Investments | Advanced Micro Devices Inc | Information Technology | Semiconductors & Semiconductor Equipment | Bull | NASDAQ | AI chips, Artificial Intelligence, Revenue Growth, semiconductors, Tactical position, technology hardware | View Pitch |
| Apr 13, 2026 | Fund Letters | Airlie Small Companies Fund | Advanced Micro Devices | Information Technology | Semiconductors & Semiconductor Equipment | Bull | NASDAQ | AI infrastructure, Cloud computing, competitive positioning, CPU, data center, Gpu, market share gains, Partnerships, semiconductors | View Pitch |
| Apr 13, 2026 | Fund Letters | Fortress - Caribbean Growth Fund | Advanced Micro Devices | Information Technology | Semiconductors & Semiconductor Equipment | Bull | NASDAQ | AI infrastructure, Cloud computing, data centers, GPUs, market share gains, semiconductors, Server CPUs, Strategic Partnerships | View Pitch |
| Apr 13, 2026 | Fund Letters | MPD Partners | Advanced Micro Devices | Information Technology | Semiconductors & Semiconductor Equipment | Bull | NASDAQ | AI infrastructure, Cloud computing, Cyclical Transformation, data centers, GPUs, market share gains, semiconductors, Server CPUs, Strategic Partnerships | View Pitch |
| Apr 13, 2026 | Fund Letters | Brookfield Asset Management | Advanced Micro Devices | Information Technology | Semiconductors & Semiconductor Equipment | Bull | NASDAQ | AI infrastructure, Cloud computing, Cyclical Transformation, data center, GPUs, market share gains, semiconductors, Server CPUs, strategic partnership | View Pitch |
| Apr 13, 2026 | Fund Letters | Ithaka US Growth Strategy | Advanced Micro Devices, Inc. | Information Technology | Semiconductors | Bear | NASDAQ | AI Computing, CPUs, data centers, Gaming, GPUs, high-performance computing, semiconductors | View Pitch |
| Apr 13, 2026 | Fund Letters | Kovitz Core Equity | Advanced Micro Devices Inc | Information Technology | Semiconductors | Bull | NASDAQ | AI accelerators, data center, Fabless Design, Gpu, high-performance computing, market share gains, NVIDIA Alternative, semiconductors | View Pitch |
| Apr 13, 2026 | Fund Letters | QuadCap wealth management | Advanced Micro Devices | Information Technology | Semiconductors & Semiconductor Equipment | Bull | NASDAQ | AI infrastructure, Cloud computing, CPU, data center, Gpu, semiconductors, technology hardware | View Pitch |
| Feb 21, 2026 | Seeking Alpha | Seeking Alpha | Advanced Micro Devices, Inc. | Semiconductors | Semiconductor Equipment & Materials | Bull | NASDAQ Stock Market | AI infrastructure, AMD, EPYC processors, Helios, MI450, operational discipline, rack-scale solutions, semiconductors, supply chain, valuation | View Pitch |
| Feb 21, 2026 | Fund Letters | George Bolton | Advanced Micro Devices, Inc. | Information Technology | Semiconductors | Bull | NASDAQ | AI, CapEx, Compute, datacenter, GPUs, growth, marketshare, Product cycle, semiconductors | View Pitch |
| Feb 21, 2026 | Fund Letters | George Bolton | Advanced Micro Devices, Inc. | Information Technology | Semiconductors | Bull | NASDAQ | AI, CPUs, data centers, inference, semiconductors | View Pitch |
| Feb 21, 2026 | Fund Letters | George Bolton | Advanced Micro Devices, Inc. | Information Technology | Semiconductors | Bull | NASDAQ | AI, CapEx, CPUs, datacenter, GPUs, Inflection, marketshare, Partnerships, semiconductors | View Pitch |
| Feb 4, 2026 | Seeking Alpha | Seeking Alpha | Advanced Micro Devices, Inc. | Semiconductors | Semiconductor Devices | Bull | NASDAQ Stock Market | AMD, data center growth, EPS beat, Gaming/Client segment, Gross margin, operating margin, Q4 2025 earnings, revenue beat, semiconductors, stock-based compensation | View Pitch |
| Feb 4, 2026 | Seeking Alpha | Seeking Alpha | Advanced Micro Devices, Inc. | Semiconductors | Semiconductor Devices | Bull | NASDAQ Stock Market | AI demand, AMD, data center, EPYC processors, Gaming, gross margins, Instinct GPUs, investment opportunity, operating income, semiconductors | View Pitch |
| Feb 4, 2026 | Fund Letters | Jacob Mitchell | Advanced Micro Devices Inc. | Information Technology | Semiconductors | Bull | NASDAQ | AI, data centers, GPUs, hyperscalers, Semi Conductors | View Pitch |
| Feb 4, 2026 | Fund Letters | Jacob Mitchell | Advanced Micro Devices, Inc. | Information Technology | Semiconductors | Bull | NASDAQ | AI, datacenter, growth, infrastructure, semiconductors | View Pitch |
| Jan 31, 2026 | Fund Letters | Ankur Shah | Advanced Micro Devices, Inc. | Information Technology | Semiconductors | Bull | NASDAQ | AI, data centers, Execution, semiconductors, Share_Gains | View Pitch |
| Jan 28, 2026 | Fund Letters | Scott LaBreche | Advanced Micro Devices Inc. | Information Technology | Semiconductors | Bull | NASDAQ | AI, data centers, GPUs, hyperscalers, semiconductors | View Pitch |
| Jan 24, 2026 | Fund Letters | Balkar Silvia | Advanced Micro Devices, Inc. | Information Technology | Semiconductors | Bull | NASDAQ | AI, datacenters, GPUs, marketshare, semiconductors | View Pitch |
| Jan 24, 2026 | Fund Letters | James England | Advanced Micro Devices, Inc. | Information Technology | Semiconductors | Bull | NASDAQ | AI, GPUs, marketshare, semiconductors, valuation | View Pitch |
| Jan 23, 2026 | Fund Letters | Scott O'Gorman | Advanced Micro Devices, Inc. | Information Technology | Semiconductors | Bull | NASDAQ | AI, datacenters, GPUs, growth, semiconductors | View Pitch |
| Jan 23, 2026 | Twitter / X | @thexcapitalist | Advanced Micro Devices, Inc. | Information Technology | Semiconductors | Bull | NASDAQ | AMD, Chips, Crypto, inference, META, NVDA, semiconductors, Simulation | View Pitch |
| Dec 3, 2025 | Fund Letters | Harvey Warren Sax | Advanced Micro Devices, Inc. | Information Technology | Semiconductors | Bull | NASDAQ | AI, data center, GPUs, growth, semiconductors | View Pitch |
| Dec 3, 2025 | Seeking Alpha | Seeking Alpha | Advanced Micro Devices, Inc. | Semiconductors | Bull | AI chips, AMD, Competition, cost-effective, data center, execution risks, market share, Revenue Growth, ROCm platform | View Pitch | ||
| Nov 29, 2025 | Fund Letters | Balkar Silvia | Advanced Micro Devices Inc. | Information Technology | Semiconductors | Bull | NASDAQ | AI, data centers, growth, innovation, Margins, semiconductors | View Pitch |
| Nov 29, 2025 | Fund Letters | Bradley Klapmeyer | Advanced Micro Devices, Inc. | Information Technology | Semiconductors | Bull | NASDAQ | accelerators, AI, data center, inference, market share, Roadmap, Training | View Pitch |
| Nov 29, 2025 | Fund Letters | Harvey Warren Sax | Advanced Micro Devices Inc. | Information Technology | Semiconductors | Bull | NASDAQ | AI, cloud, datacenters, GPUs, growth, Margins, semiconductors | View Pitch |
| Nov 28, 2025 | Fund Letters | Harvey Warren Sax | Advanced Micro Devices Inc. | Information Technology | Semiconductors | Bull | NASDAQ | AI, cloud, datacenters, GPUs, growth, Margins, semiconductors | View Pitch |
| Nov 8, 2025 | Seeking Alpha | Seeking Alpha | Advanced Micro Devices, Inc. | Semiconductors | Bear | AI market, AMD, Competition, earnings report, growth investments, price correction, Return on Capital Employed, semiconductors, Technical Indicators, valuation | View Pitch | ||
| Nov 5, 2025 | Seeking Alpha | Seeking Alpha | Advanced Micro Devices, Inc. | Semiconductors | Neutral | AI chips, AMD, data center, growth trajectory, market reaction, Nvidia competition, OpenAI, Q3 2025, semiconductors, valuation | View Pitch | ||
| Nov 5, 2025 | Seeking Alpha | Seeking Alpha | Advanced Micro Devices, Inc. | Semiconductors | Bull | AMD, Client & Gaming, data center, EPYC processors, Instinct AI accelerators, META, OpenAI, Oracle, Ryzen processors, semiconductors | View Pitch | ||
| Sep 9, 2025 | Seeking Alpha | Seeking Alpha | Advanced Micro Devices | Semiconductors | Bull | AI market, data center, earnings growth, EPYC server, GP margins, high-performance computing, MI350 series, Ryzen client, semiconductors, ZT Systems acquisition | View Pitch | ||
| Sep 9, 2025 | Seeking Alpha | Seeking Alpha | Advanced Micro Devices, Inc. | Semiconductors | Bear | AI chips, ASIC chips, data center revenue, EPYC CPU, inference market, market position, MI350X GPU, NVIDIA, semiconductors, valuation | View Pitch | ||
| Aug 8, 2025 | Seeking Alpha | LL Insights | Advanced Micro Devices, Inc. | Information Technology | Semiconductors | Bull | NASDAQ | — | View Pitch |
| Aug 8, 2025 | Seeking Alpha | Zoltan Ban | Advanced Micro Devices, Inc. | Information Technology | Semiconductors | Bull | NASDAQ | — | View Pitch |
| Aug 8, 2025 | Seeking Alpha | Kevin George | Advanced Micro Devices | Information Technology | Semiconductors | Bull | NASDAQ | — | View Pitch |
| Aug 8, 2025 | Seeking Alpha | James Foord | Advanced Micro Devices, Inc. | Information Technology | Semiconductors | Bull | NASDAQ | — | View Pitch |
| Aug 8, 2025 | Seeking Alpha | JR Research | Advanced Micro Devices, Inc. | Information Technology | Semiconductors | Bull | NASDAQ | — | View Pitch |
| Aug 7, 2025 | Seeking Alpha | Uttam Dey | Advanced Micro Devices | Information Technology | Semiconductors | Bull | NASDAQ | — | View Pitch |
| Aug 7, 2025 | Seeking Alpha | Hunting Alpha | Advanced Micro Devices, Inc. | Information Technology | Semiconductors | Neutral | NASDAQ | — | View Pitch |
| Aug 7, 2025 | Seeking Alpha | The Techie | Advanced Micro Devices, Inc. | Information Technology | Semiconductors | Bull | NASDAQ | — | View Pitch |
| Aug 7, 2025 | Seeking Alpha | Cash Flow Venue | Advanced Micro Devices, Inc. | Information Technology | Semiconductors | Bull | NASDAQ | — | View Pitch |
| Aug 7, 2025 | Seeking Alpha | Kennedy Njagi | Advanced Micro Devices | Information Technology | Semiconductors | Bull | NASDAQ | — | View Pitch |
| Manager Name | Fund Name | Fund AUM | Invested Value | Portfolio Weight | Shares Owned | Shares Bought / Sold During Quarter | % Bought / Sold During Quarter | % of Shares Outstanding Owned |
|---|---|---|---|---|---|---|---|---|
| No investor data available. | ||||||||