Value Aligned Research Advisors, LLC
Reported holdings as of Q2 2026, from 15 quarterly filings.
Holdings
| Security | Ticker | Value | Shares | Weight | Weight change | Held | Change |
|---|---|---|---|---|---|---|---|
| NVIDIA CORPORATION OPT | NVDA | $5.1B | 800,769 | -3.56pp | 9q | -6.2%-$336.2M | |
| ALPHABET INC OPT | GOOGL | $4.8B | 370,302 | +0.81pp | 7q | +3119.5%+$4.6B | |
| AMAZON COM INC OPT | AMZN | $4.7B | 1,625,565 | +1.78pp | 7q | +32926.5%+$4.7B | |
| TAIWAN SEMICONDUCTOR MANUFAC OPT | TSM | $2.2B | 1,007,480 | -2.20pp | 9q | +148058.8%+$2.1B | |
| MICRON TECHNOLOGY INC OPT | MU | $2.0B | 733,007 | +3.40pp | 7q | +235.0%+$1.4B | |
| NEBIUS GROUP N.V. OPT | NBIS | $1.9B | 6,104,121 | +1.65pp | 7q | +5.0%+$91.3M | |
| INTEL CORP OPT | INTC | $1.8B | 6,345,700 | +1.60pp | 5q | +1159.7%+$1.6B | |
| BLOOM ENERGY CORP OPT | BE | $1.7B | 5,585,179 | +1.23pp | 7q | +21.8%+$304.8M | |
| COREWEAVE INC OPT | CRWV | $1.7B | 10,886,110 | +0.50pp | 5q | +31.5%+$399.4M | |
| BROADCOM INC OPT | AVGO | $947.5M | 407,611 | +0.49pp | 9q | +733.4%+$833.8M | |
| SANDISK CORP OPT | SNDK | $880.1M | 311,782 | +1.70pp | 2q | +196.4%+$583.2M | |
| VERTIV HOLDINGS CO OPT | VRT | $806.7M | 1,437,807 | -0.99pp | 13q | -25.9%-$281.7M | |
| ADVANCED MICRO DEVICES INC OPT | AMD | $799.3M | 155,600 | +1.24pp | 6q | HELD | |
| ASML HLDG NV OPT | ASML | $778.2M | 70,548 | +0.16pp | 3q | HELD | |
| SEAGATE TECHNOLOGY HLDNGS PL OPT | STX | $684.6M | 709,357 | -0.02pp | 3q | -22.4%-$198.1M | |
| LUMENTUM HLDGS INC OPT | LITE | $636.8M | 734,687 | -2.00pp | 3q | -30.5%-$279.6M | |
| CELESTICA INC OPT | CLS | $634.9M | 1,576,402 | -0.46pp | 9q | +5.7%+$34.2M | |
| WESTERN DIGITAL CORP | WDC | $631.3M | 988,429 | -0.12pp | 2q | -23.7%-$196.1M | |
| MICROSOFT CORP OPT | MSFT | $550.3M | 374 | +0.56pp | 9q | HELD | |
| COMFORT SYS USA INC | FIX | $482.8M | 243,607 | -0.22pp | 4q | +14.0%+$59.4M | |
| IREN LIMITED OPT | IREN | $448.7M | 8,467,327 | +0.23pp | 5q | +77.6%+$196.0M | |
| FTAI AVIATION LTD OPT | FTAI | $402.7M | 1,393,259 | -0.32pp | 2q | +30.1%+$93.2M | |
| ORACLE CORP OPT | ORCL | $385.8M | 115,078 | -0.79pp | 6q | HELD | |
| TERAWULF INC OPT | WULF | $370.9M | 12,263,135 | +0.29pp | 2q | +56.3%+$133.5M | |
| EQT CORP OPT | EQT | $319.0M | 4,614,894 | -0.89pp | 6q | +10.2%+$29.5M | |
| EMCOR GROUP INC | EME | $290.4M | 349,960 | -0.07pp | 4q | +56.6%+$104.9M | |
| CIPHER DIGITAL INC OPT | CIFR | $285.3M | 11,125,393 | flat | 4q | +1.1%+$3.2M | |
| ASTERA LABS INC | ALAB | $274.5M | 568,316 | +0.38pp | 7q | HELD | |
| APPLIED DIGITAL CORP OPT | APLD | $245.9M | 5,546,030 | -0.18pp | 3q | -16.8%-$49.8M | |
| CEREBRAS SYSTEMS INC | CBRS | $241.9M | 1,094,722 | - | new | NEW | |
| CORE SCIENTIFIC INC NEW OPT | CORZ | $240.7M | 9,187,797 | +0.04pp | 3q | +19.0%+$38.5M | |
| APPLIED OPTOELECTRONICS INC OPT | AAOI | $240.1M | 1,595,124 | +0.07pp | 2q | +25.8%+$49.3M | |
| ZOOM COMMUNICATIONS INC OPT | ZM | $224.5M | options only | +0.13pp | 2q | OPTIONS | |
| ECHOSTAR CORP OPT | ECHO | $206.4M | 1,905,515 | - | new | NEW | |
| FREEPORT-MCMORAN INC OPT | FCX | $201.7M | options only | -1.25pp | 2q | OPTIONS | |
| HUT 8 CORP OPT | HUT | $192.7M | 1,440,342 | -0.22pp | 5q | -50.0%-$193.0M | |
| FORGENT POWER SOLUTIONS INC | FPS | $176.4M | 3,158,622 | - | new | NEW | |
| APPLIED MATLS INC OPT | AMAT | $159.8M | 69,591 | -1.06pp | 6q | -90.5%-$1.5B | |
| ACM RESH INC OPT | ACMR | $133.7M | 1,053,949 | +0.15pp | 2q | +10.3%+$12.4M | |
| LAM RESEARCH CORP OPT | LRCX | $132.7M | 121,597 | -1.02pp | 6q | -89.0%-$1.1B | |
| COHERENT CORP OPT | COHR | $128.8M | 319,191 | -1.17pp | 12q | -75.2%-$389.8M | |
| RIOT PLATFORMS INC OPT | RIOT | $114.5M | 3,290,544 | -0.02pp | 7q | -36.4%-$65.6M | |
| SPACE EXPLORATION TECHN CORP | SPCX | $100.8M | 589,723 | - | new | NEW | |
| GE VERNOVA INC OPT | GEV | $95.3M | 44,433 | -0.10pp | 7q | HELD | |
| CREDO TECHNOLOGY GROUP HOLDI | CRDO | $91.9M | 337,998 | - | new | NEW | |
| BITDEER TECHNOLOGIES GROUP OPT | BTDR | $82.6M | 5,203,764 | +0.04pp | 5q | +28.6%+$18.4M | |
| FERVO ENERGY CO | FRVO | $63.2M | 2,160,607 | - | new | NEW | |
| STERLING INFRASTRUCTURE INC | STRL | $61.6M | 73,360 | -0.02pp | 2q | -18.0%-$13.5M | |
| LEGENCE CORP | LGN | $59.0M | 692,150 | +0.06pp | 4q | +124.6%+$32.7M | |
| META PLATFORMS INC OPT | META | $56.2M | 124 | - | new | NEW | |
| KLA CORP OPT | KLAC | $55.2M | options only | -1.01pp | 6q | OPTIONS | |
| INNIO NV | INIO | $53.6M | 1,355,362 | - | new | NEW | |
| SNOWFLAKE INC OPT | SNOW | $33.8M | options only | -0.36pp | 4q | OPTIONS | |
| BABCOCK & WILCOX ENTERPRISES OPT | BW | $33.7M | 2,238,024 | - | new | NEW | |
| QUALCOMM INC OPT | QCOM | $31.4M | options only | -0.03pp | 5q | OPTIONS | |
| KEEL INFRASTRUCTURE CORP OPT | KEEL | $30.3M | 5,154,360 | - | new | NEW | |
| TRANSALTA CORP | TAC | $29.6M | 2,139,907 | -0.09pp | 2q | -17.6%-$6.3M | |
| VISTRA CORP OPT | VST | $25.3M | options only | -0.05pp | 7q | OPTIONS | |
| EROCK INC | EROC | $19.5M | 1,345,920 | - | new | NEW | |
| BKV CORP | BKV | $18.6M | 679,899 | flat | 4q | +110.5%+$9.8M | |
| CONSTELLATION ENERGY CORP OPT | CEG | $17.1M | options only | -0.07pp | 7q | OPTIONS | |
| APPLE INC OPT | AAPL | $16.0M | options only | -0.03pp | 5q | OPTIONS | |
| ISHARES TR OPT | EEM | $15.3M | options only | -0.02pp | 5q | OPTIONS | |
| FERMI INC | FRMI | $12.5M | 1,367,995 | - | new | NEW | |
| TOWER SEMICONDUCTOR LTD OPT | TSEM | $10.2M | options only | -0.24pp | 2q | OPTIONS | |
| TALEN ENERGY CORP | TLN | $6.8M | 17,716 | -0.09pp | 6q | -74.6%-$20.0M | |
| HALLADOR ENERGY COMPANY | HNRG | $5.6M | 320,759 | -0.01pp | 5q | HELD | |
| TSS INC DEL | TSSI | $3.2M | 261,498 | -0.02pp | 7q | -43.2%-$2.4M | |
| ALPHABET INC | GOOG | $1.7M | 4,785 | flat | 9q | HELD | |
| NRG ENERGY INC OPT | NRG | $452.8K | options only | flat | 7q | OPTIONS | |
| GITLAB INC OPT | GTLB | $238.1K | options only | - | new | OPTIONS | |
| LIBERTY ENERGY INC OPT | LBRT | $217.4K | options only | -0.18pp | 2q | OPTIONS |
By sector
Industry comes from the SIC code on each company's own SEC filings, which is self-reported and sometimes out of date. Derivative exposure is counted with the shares. Securities the SEC assigns no industry - funds, trusts, foreign issues - are shown as not classified rather than dropped.
| Sector | Value | Share |
|---|---|---|
| Semiconductors & Electronics | $17.6B | 43.9% |
| Software & IT Services | $9.9B | 24.6% |
| Retail & Consumer | $4.7B | 11.8% |
| Computer Hardware | $2.2B | 5.5% |
| Banks & Lending | $1.8B | 4.4% |
| Industrials | $1.1B | 2.7% |
| Construction & Building | $893.8M | 2.2% |
| Other sectors | $1.4B | 3.6% |
| Not classified | $494.3M | 1.2% |
Quarter by quarter
| Quarter | Value | Positions | New | Added | Trimmed | Exited | Top 10 | Days to file |
|---|---|---|---|---|---|---|---|---|
| Q2 2026 | $40.1B | 72 | 13 | 24 | 20 | 2 | 66.8% | 48 |
| Q1 2026 | $20.7B | 61 | 13 | 21 | 13 | 5 | 64.2% | 48 |
| Q4 2025 | $9.9B | 53 | 7 | 20 | 11 | 4 | 58.0% | 48 |
| Q3 2025 | $8.2B | 50 | 8 | 25 | 8 | 1 | 56.6% | 64 |
| Q2 2025 | $4.7B | 43 | 14 | 19 | 9 | 5 | 62.9% | 45 |
| Q1 2025 | $1.4B | 34 | 10 | 22 | 2 | 3 | 76.5% | 45 |
| Q4 2024 | $365.8M | 27 | 15 | 2 | 10 | 9 | 77.3% | 49 |
| Q3 2024 | $384.9M | 21 | 4 | 13 | 3 | 3 | 93.9% | 39 |
| Q2 2024 | $456.6M | 20 | 6 | 8 | 3 | 5 | 87.2% | 40 |
| Q1 2024 | $507.0M | 19 | 1 | 8 | 4 | 1 | 86.5% | 26 |
| Q4 2023 | $395.7M | 19 | 3 | 7 | 7 | 3 | 89.4% | 19 |
| Q3 2023 | $317.4M | 19 | 3 | 8 | 4 | 0 | 88.6% | 39 |
| Q2 2023 | $319.7M | 16 | 3 | 13 | 0 | 6 | 90.2% | 34 |
| Q1 2023 | $282.5M | 19 | 0 | 2 | 7 | 5 | 86.9% | 24 |
| Q4 2022 | $220.6M | 24 | 0 | 0 | 0 | 0 | 79.5% | 30 |
Rows marked UNVERIFIED ID, PLACEHOLDER ID, TICKER AS ID or NON-CUSIP ID carry an identifier that is not a valid CUSIP. They are shown because the filer reported that money, but treat the security named with caution - hover the chip for what is wrong with it, and see the methodology.
Held counts consecutive filings in which this manager reported the position, and can reach further back than the quarters listed above: the tabs begin at Q4 2018 because earlier coverage is too sparse to describe a market, but tenure is counted over every filing we hold, some reaching to 2007. A position sold and later rebought starts again from one.
Weight change is the shift in this position's share of the whole book, in percentage points. It is the more useful column: when money flows into or out of a broad fund, almost every holding is bought or sold at once, so added and trimmed largely track flows. A weight that rose while the book shrank is a decision. Both compare with the previous quarter this filer reported, not the previous calendar quarter.