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3Q26 Portfolio Rebalance: Capturing the Next Phase of AI Infrastructure Buildout (Pt.3)
Portfolio

3Q26 Portfolio Rebalance: Capturing the Next Phase of AI Infrastructure Buildout (Pt.3)

The July AI-infra correction separated disciplined portfolios from levered concentration. Our 3Q26 rebalance concludes with a clear principle: technical relevance is not enough. We exit weakened theses, favour bottleneck resolvers like Soitec, and size unproven optionality with discipline.
29 min read 04 Aug 2026
3Q26 Portfolio Rebalance: Capturing the Next Phase of AI Infrastructure Buildout (Pt.2)
Portfolio
31 min read 21 Jul 2026

3Q26 Portfolio Rebalance: Capturing the Next Phase of AI Infrastructure Buildout (Pt.2)

Part 2 of the rebalance deepens the focus on power electronics for 800V DC architectures, sharpens photonics conviction around hybrid bonding and space optics, and refines the neocloud and software allocations toward the highest-asymmetry names in the AI value chain.
3Q26 Portfolio Rebalance: Capturing the Next Phase of AI Infrastructure Buildout (Pt.1)
Portfolio
12 min read 06 Jul 2026

3Q26 Portfolio Rebalance: Capturing the Next Phase of AI Infrastructure Buildout (Pt.1)

In our latest quarterly review, we rotate toward under-appreciated capacity resolvers across foundry, back-end, photonics, and power as the AI buildout enters its next phase.

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