Situational Awareness portfolio

What changed this quarter

25 positions with a change (4 new, 11 added to, 3 trimmed, 7 sold); also, 1 entered through an IPO, 1 exited through an acquisition or merger. 9 are listed here: those of 0.5 points of the portfolio or more (up to 12).

• Micron Technology+27,712%more sharesIncreased
  0.2% → 27.6%
• Sandisk+119%more sharesIncreased
  18.8% → 28.1%
• Taiwan Semiconductor Manufacturing+11,714%more sharesIncreased
  0.2% → 6.3%
• Nebius Group+6.1 ppof portfolioNew
  — → 6.1%
• STMicroelectronics+2.9 ppof portfolioNew
  — → 2.9%
• SharonAI Holdings+578%more sharesIncreased
  0.5% → 2.3%
• Riot Platforms+49%more sharesIncreased
  3.7% → 2.3%
• Keel Infrastructure+0.8 ppof portfolioNew
  — → 0.8%
• Iren−19%fewer sharesReduced
  10.4% → 2.1%

The figure on the right: for positions added to or trimmed, the change in the number of shares (%); for new and sold ones, the points of the portfolio moved (pp). Below, the portfolio weight before → after. Traded weight?: what it bought or sold, excluding price effects.

Top holdings

• SandiskSNDK28.1%
• Micron TechnologyMU27.6%
• Bloom EnergyBE9.4%
• Taiwan Semiconductor ManufacturingTSM6.3%
• Nebius GroupNBIS6.1%
• CoreWeaveCRWV3.7%
• Core ScientificCORZ3.3%
• STMicroelectronicsSTM2.9%
• Applied DigitalAPLD2.3%
• RIOT PlatformsRIOT2.3%
• SharonAI HoldingsSHAZ2.3%
• IRENIREN2.1%
• CleanSparkCLSK0.9%
• Keel InfrastructureKEEL0.8%
• Solaris Energy InfrastructureSEI0.5%
• WhitefiberWYFI0.3%
• Bitdeer Technologies GroupBTDR0.3%
• T1 EnergyTE0.2%
• HIVE Digital TechnologiesHIVE0.2%
• Babcock & Wilcox EnterprisesBW0.1%
• ProPetro HoldingPUMP0.1%
• Vishay IntertechnologyVSH0.1%
• Cerebras SystemsCBRSunder 0.1%