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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q4 | Jan 20, 2026 | Nightview Capital | 0.0% | 0.0% | AMZN, BABA, NITE, TSLA, TSM | AI, Autonomy, China, growth, long-term, Physical AI, semiconductors, technology | AI represents the biggest industrial technological revolution of the 21st century that will fundamentally shift global economic infrastructure. The manager believes AI will transition from screens to physical world applications, creating proprietary data advantages for companies with real-world operations. Progress has been meaningful but largely iterative, with the real boom expected when AI moves beyond LLMs into physical systems. Tesla exemplifies the transition to autonomy as a software business, with Full Self-Driving showing dramatic improvement over the past year. The manager has increasing conviction that Tesla will achieve full autonomy, viewing Tesla's data advantage as structural through every mile driven feeding a learning loop that competitors cannot replicate without similar scale. Amazon's retail operation is transitioning from investment phase to operating leverage, with AI-driven efficiencies falling to the bottom line. The company is improving inventory velocity, reducing costs, and enhancing customer experience while the market perception of low-margin retail remains outdated as scale and AI converge. The semiconductor cycle differs from historical patterns as high-performance computing now represents 60% of TSMC revenue versus 30% in 2018. Frontier logic tied to AI workloads is no longer cyclical demand but the base, with unprecedented capital expenditure underway requiring either sustained AI integration or material overbuilding. Alibaba investment reflects opportunity where fundamentals remain solid despite deeply negative market perception. The business remains central to China's economy with strong positions across e-commerce, cloud, logistics, and infrastructure, while valuation implies little long-term growth despite durable economics. Normalization of financial activity is occurring as the challenging environment from rapid interest rate rises beginning in 2022 adjusts. Trading volumes are increasing, deal pipelines are rebuilding, and pent-up demand is being released as conditions normalize and the yield curve moves toward normalization. Travel and leisure represent change-resistant parts of the economy rooted in deeply human experiences. As AI becomes more embedded in daily life, the desire for physical experiences will intensify, making real experiences more valuable in a world of increasing digital abstraction and fake content creation. | TSM BABA AMZN TSLA |
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| 2024 Q2 | Jul 17, 2024 | Nightview Capital | 0.0% | 0.0% | AAPL, AMZN, BLK, DKNG, GOOG, GS, H, LVS, META, MGM, MS, NFLX, NITE, QCOM, SCHW, TSLA, TSM, WYNN | - | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
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| No pitches found. | |||||||||
| 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 |
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| No investor data available. | ||||||||