GTC 2026 Portfolio

This is not a diversified portfolio. It is a concentrated bet on the infrastructure powering AI. The strategy focuses only on companies that sit directly in the path of AI becoming an industrial system—compute, networking, fabrication, and deployment. No applications, no SaaS, no narrative-driven exposure. Only the layers without which AI cannot scale. Each holding represents a critical dependency in the stack. Capital is intentionally concentrated in companies that define standards, control bottlenecks, or enable system-wide performance gains. Portfolio rules are simple. First, structural relevance: every position must be essential to AI compute or data movement. Second, concentration over coverage: higher weights go to dominant players shaping the ecosystem. Third, active discipline: positions are reviewed and adjusted as leadership shifts across the stack. A small cash allocation is maintained for flexibility. This portfolio does not attempt to predict which AI company will win. It is positioned where all of them must pass.