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LT position PART 1
Portfolio Positions acquired: $RNA $DAWN $SLNO $NARI $BPMC $MYOV base:0x9bba915f036158582c20b51113b925f243a1a1a1 $KRTX $HZNP $PRVB $ISEE $BLU $CTIC $FSTX $ICVX $LVGO $STML base:0x4e6c9f48f73e54ee5f3ab7e2992b2d733d0d0b07 $CMRX $RLYP $ITCI $KVUE
Tech positions: In order
$AMZN $META $NVDA $MSFT $SOFI $GOOGL $RDDT $MELI $APP $RKLB $INTC $IREN $NBIS $CRDO $AAOI $BE $AXON $MDB
Biotech positions: $VKTX $CYTK $ARDX $HROW $MDGL $CRVS $ABVX $TMDX $RVMD $NKTR $CELC $AVR
Pharmdca retweeted
SK HYNIX SAYS ITS Q3 DIVIDEND PAYOUT STANDS AT 14 TRLN WON, AND THAT IT PLANS TO RETURN THE MAJORITY OF REALIZED GAINS ON ITS KIOXIA INVESTMENT THROUGH A SPECIAL DIVIDEND, PAID IN Q3 AND AT FY2026 YEAR-END
Pharmdca retweeted
US IRAN WAR COSTS SURPASS $47 BILLION, PENTAGON ESTIMATES
The US military has spent more than $47 billion on the war in Iran, according to Pentagon data reviewed by Reuters, exceeding the Defense Department’s July estimate by over 25%.
The costs include more than $29 billion to replenish munitions and over $6 billion to replace military equipment.
The estimate does not clearly account for repairs to US bases damaged by Iranian missile and drone attacks.
Pharmdca retweeted
NETANYAHU FACES ELECTION SETBACK AS ISRAELI EXIT POLLS SHOW DEADLOCK
Israeli exit polls show Prime Minister Benjamin Netanyahu’s bloc running neck and neck with opposition leader Gadi Eisenkot, with neither side projected to secure the 61 seats needed for a parliamentary majority.
Voter turnout reached 77.7%, the highest in more than two decades. Arab parties could hold the balance of power, although coalition negotiations remain complicated.
Pharmdca retweeted
$SKHY just printed one of the most insane quarters in memory history:
• Revenue $78.9B (+328% YoY).
• Operating profit $62.8B (+632% YoY).
• 80% operating margin (record).
• HBM4 already overtaking HBM3E in Q4.
• 5-year LTAs with major CSPs locking >50% of 2027-28 capacity.
Memory demand is set to outpace supply through 2030.
This isn’t a memory cycle.
This is a STRUCTURAL physical bottleneck of the AI supercycle.
SK HYNIX $SKHY Q3’26 EARNINGS HIGHLIGHTS
🔹 Revenue: $78.9B (Est. $74.8B) 🟢; +328% YoY
🔹 Oper Profit: $62.8B (Est. $58.5B) 🟢; +632% YoY
🔹 Oper Margin: 80%; +3,300 bps YoY; record high
🔹 QoQ: Revenue +32% / Oper Profit +38%
Q4 Guide:
🔹 DRAM Bit Growth: Mid-20% QoQ
🔹 NAND Bit Growth: Mid-single% QoQ incl. Solidigm
Q3 Pricing & Volume:
🔹 DRAM ASP: High-20% QoQ; bits ~+10% QoQ
🔹 NAND ASP: Mid-20% QoQ; bits slightly lower QoQ
Profitability:
🔹 Gross Margin: 85.7% (Est. 85.2%) 🟢
🔹 EBITDA: $66.1B; 84% margin; +486% YoY
🔹 EPS: $41.07; +205% YoY
Financials:
🔹 Cash: $86.3B; +311% YoY
🔹 Interest-Bearing Debt: $11.9B; -34% YoY
🔹 Net Debt-to-Equity: -32%; -2,800 bps YoY
🔹 Operating Cash Flow: $41.3B; +281% YoY
🔹 Total Assets: $295.5B
2027 Market Outlook:
🔹 DRAM Demand Bit Growth: +mid-20% YoY
🔹 NAND Demand Bit Growth: +high-teens% YoY
🔹 2027 CapEx: To rise significantly vs 2026
🔸 Memory demand expected to outpace supply through 2030
Product & Technology:
🔹 HBM4: Expected to surpass HBM3E in HBM shipment and revenue share in Q4
🔹 2027 HBM: Negotiations finalized; profitability gap with conventional DRAM expected to narrow meaningfully
🔹 M15X: Ramp-up accelerating to full capacity by end-2026
🔹 321L NAND: Over 50% of domestic capacity in Q4
Business Highlights:
🔹 LTAs: Signed with 14 key customers incl. major global CSPs; standard 5-year term; over 50% of 2027-2028 capacity secured
🔹 Q3 Dividend: ~₩20,000/share (~$15.08), incl. a ₩10,000 special dividend from realized Kioxia gains
🔹 Share Acquisition: ₩20T (~$15.1B) for the quarter, incl. ~₩10T for executive & employee compensation
🔸 Quarterly revenue topped ₩100T for the first time
Note:
🔹 Net Profit: $30.0B; +216% YoY
🔸 Includes a $24.6B non-operating loss: a $17.3B investment-asset loss and an $8.8B FX loss as the won strengthened
FX used for USD conversion: $1 = ₩1,326 (mid-market; Oct 27, 2026)
$NBIS $AAOI $MU $CRDO $BE $NVDA $AVGO
$SKHY
If you still believe AI is a bubble because that’s what the media keeps pushing, you risk missing another opportunity.
Recent pullbacks in AI, chip, and memory stocks can create opportunities for investors who focus on fundamentals, earnings growth, and long-term demand rather than fear-driven narratives.
$SKHY Earnings out
Revenue: 104.62 trillion won vs. 98.34 trillion won expected
Operating profit: 83.33 trillion won vs. 76.72 trillion won expected
Revenue rose 327.9% from a year earlier, while operating profit climbed 632.1% year on year.
SK Hynix has emerged as one of the biggest beneficiaries of the global AI infrastructure buildout, as technology companies ramp up spending on data centers and advanced processors.
Pharmdca retweeted
SK HYNIX $SKHY PLANS ~₩100 TRILLION (~$75B) IN SHAREHOLDER RETURNS FOR 2026
Pharmdca retweeted
Oracle $ORCL announced several AI partnerships and infrastructure updates at Oracle AI World in Las Vegas today.
Here's a breakdown of the major announcements:
- $NVDA: Expanding NVIDIA Vera Rubin Superclusters to multi-gigawatt scale. Vera Rubin NVL72 systems and Vera CPUs are now available on Oracle Cloud.
- $GOOGL: Bringing Google's custom TPU chips to Oracle Cloud starting in 2027, making Oracle the first hyperscaler outside Google to offer them. This includes TPU 8t for training and TPU 8i for inference.
- $CBRS: Partnering with Cerebras to bring high-speed AI inference systems to Oracle Cloud in 2027.
- SambaNova: Adding another specialized AI inference chip option to Oracle's cloud infrastructure.
- OpenAI: Expanding their partnership with four enterprise offerings that integrate ChatGPT and Codex into business workflows, cybersecurity, application development, and small-business operations.
- $SNOW: Bringing Snowflake's AI Data Cloud to Oracle Cloud as a native, first-party service, with customers able to purchase and manage it directly through Oracle.
Pharmdca retweeted
$CBRS Spike to almost $120 intraday…off Oracle partnership news.
🤔
Pharmdca retweeted
$META's $25B stock sale draws 5x demand.
The offering was priced at $625 per share.
More than half the shares were allocated to long-only and existing investors, while the 15 largest allocations accounted for roughly 70% of the deal.
$XBI Hopefully we've put in a bottom. A growing number of stocks are trading in oversold territory, which could set the stage for a rebound.
Pharmdca retweeted
$SOFI TECHNOLOGIES Q3’26 EARNINGS HIGHLIGHTS
🔹 Revenue: $1.4B (Est. $1.25B) 🟢; +44% YoY
🔹 Adj. EPS: $0.18 (Est. $0.16) 🟢; +64% YoY
🔹 Adjusted EBITDA: $469.8M; +70% YoY
🔹 Members: 17.1M; +35% YoY
FY26 Guide:
🔹 Adj. Revenue: ~$5.04B (Est. $4.87B) 🟢
🔹 Adjusted EPS: ~$0.61 (Est. $0.59) 🟢
🔹 Adjusted EBITDA: ~$1.66B
🔹 Adjusted Net Income: ~$840M
🔹 Member Growth: At least +30% YoY
FY27 Guide:
🔹 Adj. Revenue: ~$6.4B (Est. $6B) 🟢
🔹 Adjusted EPS: ~$0.90 (Est. $0.82) 🟢
🔹 Adjusted EBITDA: ~$2.24B
🔹 Adjusted Net Income: ~$1.28B
Segment Net Revenue:
🔹 Lending: $821.3M; +66% YoY
🔹 Financial Services: $525.1M; +25% YoY
🔹 Technology Platform: $87.4M; -24% YoY
Other Q3 Metrics:
🔹 Total Products: 26.7M; +44% YoY
🔹 Fee-Based Revenue: $570.6M
🔹 Net Interest Margin: 6.14%
🔹 Total Deposits: $51.3B
Comments:
🔸 “We are adding more members, who are using more products, and generating more revenue per product to create the most value for our shareholders over the long run.”
🔸 “Our conviction in the opportunity ahead has never been greater.”
