Oak Grove Capital's Q4 2025 13F is a case study in extreme portfolio concentration. Two semiconductor stocks — Micron and NVIDIA — account for 50.2% of the entire $844B filing.
The Numbers
| Metric | Value |
|---|---|
| AUM | $843.9B across 74 positions |
| Top-1 | MU (Micron) at 26.5% |
| Top-2 | NVDA (NVIDIA) at 23.7% |
| Top-2 combined | 50.2% |
| Top-5 weight | 61.3% |
| New positions | 38 |
| Exits | 2 |
The Semiconductor Supply Chain Thesis
| Company | Ticker | Role in AI Stack |
|---|---|---|
| Micron | MU | HBM memory (26.5%) |
| NVIDIA | NVDA | GPU accelerators (23.7%) |
| AMD | AMD | Alternative compute |
| Coherent | COHR | Optics/photonics |
| TSMC | TSM | Fab manufacturing |
Why Micron Over NVIDIA at #1?
Most AI-thesis portfolios lead with NVIDIA. Oak Grove leads with Micron — the memory play. HBM is arguably the tightest bottleneck in AI training infrastructure right now.
The Growth Sleeve
- Netflix: shares up 1,059%
- ServiceNow: shares up 412%
- New positions in Eli Lilly, Apple, and Alphabet
Originally published at 13finsight.com
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