THETA RESEARCH

Portfolio

As of Aug 21, 2026 ET

Performance YTD

YTD return +58.0%Net P&L +$239.0KMax drawdown -6.7%
$200K$400K$600K$800KJanFebMarAprMayJunJulDeposit +$300.0K · Jan 2Deposit +$200.0K · Mar 2$739.0K

Style review

Rule-based score
6.2/ 10concentrated
lev 4.6opts 4.7conc 10.0
Concentration (HHI)
5307 · highly concentrated
Gross leverage
1.40x
Top-3 share
90%

Sector tilt: HBM / Memory 71% · Foundry 12% · GPU / Accelerators 6%

Shared upstream
  • TSMAVGOMUNVDA
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£15 / 30 days

Use it with my portfolioFree MU research
Demo book — sample positions
Gross$1.1M
Unrealized P&L—
PWE return+30.5%
Cash-$180.0K
Margin27%
Theta/day-$661.00

Positions

local preview
MUStock
—$487.2K—63.5%$487.2KBuy+29.9%Bear 750 · Base 1320 · Bull 1800 · at 974.33
TSMStock
—$124.8K—16.3%$124.8KBuy+19.0%Bear 330 · Base 490 · Bull 560 · at 416
NVDAStock
—$43.4K—5.7%$43.4KStrong Buy+39.7%Bear 180.4 · Base 288.75 · Bull 390 · at 216.85
AVGOStock
—$54.6K—7.1%$54.6KBuy+42.3%Bear 288 · Base 512 · Bull 629 · at 364.03
VSTStock
—$55.6K—7.2%$55.6KBuy+42.7%Bear 98 · Base 199.5 · Bull 275 · at 138.94
MU1200C Jan 15
—$182.0K—23.7%$272.8KBuy+29.9%Bear 750 · Base 1320 · Bull 1800 · at 974.33
NVDA220C Jan 16
—-$5.0K—-0.7%-$23.4KStrong Buy+39.7%Bear 180.4 · Base 288.75 · Bull 390 · at 216.85
TSM400P Jun 18
—$5.0K—0.7%$6.2KBuy+19.0%Bear 330 · Base 490 · Bull 560 · at 416

Subsector exposure

by Δ exposure
HBM / Memory 71.2%, Foundry 12.3%, GPU / Accelerators 6.3%, Power 5.2%, ASIC / Networking 5.1%
  • HBM / Memory71.2%
  • Foundry12.3%
  • GPU / Accelerators6.3%
  • Power5.2%
  • ASIC / Networking5.1%

Supply-chain concentration

  • Lam Research Corp. (LRCX)2 names
    MU, TSM
  • Applied Materials Inc. (AMAT)2 names
    MU, TSM
  • ASML Holding (ASML)2 names
    MU, TSM
  • KLA Corp. (KLAC)2 names
    MU, TSM
  • Arm Holdings plc (ARM)2 names
    AVGO, NVDA
  • ASE Technology Holding (ASE)2 names
    AVGO, NVDA