Statistics
| Deposit | 280.0 [+0.0] |
| Net | 622.9 [-42.3] |
| Gain | 342.9 [-42.3] |
| Cash | -415.1 [-38.2] |
| Long | 1038.0 [-4.1] |
| TR% | 1M | 3M | 1Y | 3Y |
| SPY | +1.5 | +1.9 | +16.8 | +81.5 |
| QQQ | +0.8 | +0.7 | +18.9 | +95.4 |
| MXWO | +0.1 | +1.3 | +16.2 | +79.5 |
| IBKR | -3.7 | +7.2 | +28.0 | +169.0 |
Based on a net liquidation value of $622.9k.
Total adjusted leverage ratio is 1.70.
_
Largest Positions
| T | Rank | Prev | Ticker | Company | USD | 1WΔ | % |
| ↔ | 1 | 1 | BMNR | BITMINE IMMERSION TECHNOLOGI | 56.0 | -5.7 | 9.0 |
| ↔ | 2 | 2 | 285A.T | KIOXIA HOLDINGS CORP | 33.9 | 0.7 | 5.4 |
| ↔ | 3 | 3 | EDV | VANGUARD EXTENDED DUR TREAS | 21.9 | 0.9 | 3.5 |
| ↔ | 4 | 4 | PLTR | PALANTIR TECHNOLOGIES INC-A | 18.6 | -2.3 | 3.0 |
| ↔ | 5 | 5 | RCP.L | RIT CAPITAL PARTNERS PLC | 16.6 | 0.1 | 2.7 |
| ↔ | 6 | 6 | BST | BLACKROCK SCIENCE & TECH TR | 14.2 | -1.0 | 2.3 |
| ↑ | 7 | NR | JBBB | JANUS HENDERSON B-BBB CLO ET | 14.2 | 14.2 | 2.3 |
| ↔ | 8 | 8 | VCLT | VANGUARD LONG-TERM CORP BOND | 11.9 | 0.2 | 1.9 |
| ↔ | 9 | 9 | PGHN.SW | PARTNERS GROUP HOLDING AG | 11.8 | 0.3 | 1.9 |
| ↔ | 10 | 10 | 3234.T | MORI HILLS REIT INVESTMENT C | 11.3 | 0.0 | 1.8 |
| ↓ | 11 | 7 | ASST | STRIVE INC-A | 10.8 | -1.7 | 1.7 |
| ↓ | 12 | 11 | IGV | ISHARES EXPANDED TECH-SOFTWA | 10.4 | -0.8 | 1.7 |
| ↓ | 13 | 12 | NVDA | NVIDIA CORP | 9.6 | -0.7 | 1.5 |
| ↑ | 14 | NR | RVII | ROBINHOOD VENTURES FUND II | 9.0 | 2.5 | 1.4 |
| ↓ | 15 | 13 | 5020.T | ENEOS HOLDINGS INC | 8.8 | 0.2 | 1.4 |
| ↓ | 16 | 14 | ADSK | AUTODESK INC | 8.6 | 0.2 | 1.4 |
| ↓ | 17 | 16 | NOW | SERVICENOW INC | 8.5 | 0.1 | 1.4 |
| ↓ | 18 | 17 | GOOGL | ALPHABET INC-CL A | 8.2 | -0.3 | 1.3 |
| ↔ | 19 | 19 | ARKK | ARK INNOVATION ETF | 8.0 | 0.0 | 1.3 |
| ↔ | 19 | 19 | IBKR | INTERACTIVE BROKERS GRO-CL A | 8.0 | 0.0 | 1.3 |
Covered calls :
* Fully covered
^ Partially covered
Dropped out :
CADENCE DESIGN SYS INC (CDNS)
MICRON TECHNOLOGY INC (MU)
_
Actions
Entered :
| 6981.T | MURATA MANUFACTURING CO LTD | Electronic Components | Technology |
| NXT | NEXTPOWER INC | Solar | Technology |
| CCO.TO | CAMECO CORP | Uranium | Energy |
Increased :
| JBBB | JANUS HENDERSON B-BBB CLO ET | Janus Henderson | Securitized Bond – Focused |
| USAR | USA RARE EARTH INC | Other Industrial Metals & Mining | Basic Materials |
| SLB | SLB LTD | Oil & Gas Equipment & Services | Energy |
| VCX | FUNDRISE INNOVATION FUND LLC | Asset Management | Financial Services |
| VIG.VI | VIENNA INSURANCE GROUP AG | Insurance – Diversified | Financial Services |
| WWR | WESTWATER RESOURCES INC | Other Industrial Metals & Mining | Basic Materials |
| AMKR | AMKOR TECHNOLOGY INC | Semiconductor Equipment & Materials | Technology |
| ET PI | ENERGY TRANSFER LP | Oil & Gas Midstream | Energy |
| RVII | ROBINHOOD VENTURES FUND II | Asset Management | Financial Services |
| BKNG | BOOKING HOLDINGS INC | Travel Services | Consumer Cyclical |
| BMRN | BIOMARIN PHARMACEUTICAL INC | Biotechnology | Healthcare |
| KKR | KKR & CO INC | Asset Management | Financial Services |
| SOFI | SOFI TECHNOLOGIES INC | Credit Services | Financial Services |
| MTZ | MASTEC INC | Engineering & Construction | Industrials |
| OWL | BLUE OWL CAPITAL INC | Asset Management | Financial Services |
| BAC PRP | BANK OF AMERICA CORP | Banks – Diversified | Financial Services |
| APM.TO | ANDEAN PRECIOUS METALS CORP | Silver | Basic Materials |
| 285A.T | KIOXIA HOLDINGS CORP | Semiconductors | Technology |
| 9A4U.SI | ESR-REIT | REIT – Industrial | Real Estate |
| COHR | COHERENT CORP | Scientific & Technical Instruments | Technology |
| LEU | CENTRUS ENERGY CORP-CLASS A | Uranium | Energy |
Decreased :
| 8601.T | DAIWA SECURITIES GROUP INC | Capital Markets | Financial Services |
Exited :
| KTOS | KRATOS DEFENSE & SECURITY | Aerospace & Defense | Industrials |
| ADBE | ADOBE INC | Software – Application | Technology |
| RKT | ROCKET COS INC-CLASS A | Mortgage Finance | Financial Services |
| IVN.TO | IVANHOE MINES LTD-CL A | Other Industrial Metals & Mining | Basic Materials |
| CASH | PATHWARD FINANCIAL INC | Banks – Regional | Financial Services |
_
Notes
- Numana holds the belief that the current market downturn is temporary and is based on a false premise that the computing cluster buildout will run into some sort of credit default. Although there is limited visibility into how these companies will raise enough capital to fund the buildout, it is evident that spending will occur at feasible rates from the perspective of the builders.
- Coreweave’s senior unsecured bond yields have blown out to above 14%, but Jensen Huang has recently come out to say that funding expenses have been declining for Coreweave. Note that Nvidia is a major shareholder in Coreweave and would likely act as a source of funding during a liquidity crisis. Some of the major memory manufacturers may also decide to redirect some of their massive cash flows towards the hyperscalers if necessary.
- Numana also increased its short position on the EUR and CHF currencies. The Swiss National Bank is poised to hold rates at the current levels for 2027 and the 1% interest rates at the current CHF/USD valuation was too attractive to pass up. For Europe, there is no innovation and there are insane levels of regulation with more the come. Career bureaucrats have pushed socialist ideals and have supported the unending flood of immigrants that have low intelligence and have no plans to work for anything. So the Euro remains a great source of credit even with the benchmark rates at 2.5% (+1.5% for IBKR) offering a somewhat expensive upkeep as consumption will severely outpace production in Europe.
_
Upcoming Earnings
10/19 (Monday) :
CLF
10/20 (Tuesday) :
3750.HK, BHP.AX, CB, HAL, ISRG, MSCI
10/21 (Wednesday) :
TSLA
10/22 (Thursday) :
BX, DG.PA. LSEG.L, NDAQ, VLO
10/23 (Friday) :
SLB
_