{"slug":"lightstreet","name":"Light Street Capital","style":"tiger_crossover","grade":"A","book":[{"ticker":"TSM","issuer":"TAIWAN SEMICONDUCTOR MANUFAC","shares":336785.0,"value_usd":113816491.0,"pct_book":21.3,"position_rank":1,"tilt_pp":16.775,"action":"add","shares_change_pct":25.5,"add_streak_q":1,"persistence":"persisted","sector":null,"themes":[{"key":"fv:aicompute","name":"Compute","name_zh":"Compute"},{"key":"fv:semiscompute","name":"Compute","name_zh":"Compute"},{"key":"fv:semisfoundries","name":"Foundries","name_zh":"Foundries"}],"since_excess":0.0001,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":75.0,"tier":"high","components":{"pct_book":{"value":1.0,"points":35.0},"rank_top10":{"value":1,"points":15.0},"tilt":{"value":16.775,"points":10.0},"add_streak":{"value":1,"points":5.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"NVDA","issuer":"NVIDIA CORPORATION","shares":272214.0,"value_usd":47474122.0,"pct_book":8.89,"position_rank":2,"tilt_pp":4.357,"action":"trim","shares_change_pct":-19.9,"add_streak_q":0,"persistence":"persisted","sector":"Technology","themes":[{"key":"mag7","name":"Magnificent Seven","name_zh":"\u4e03\u5de8\u5934"},{"key":"ai_infra","name":"AI Infrastructure","name_zh":"AI \u57fa\u7840\u8bbe\u65bd"},{"key":"ai_semiconductors","name":"AI Semiconductors","name_zh":"AI\u534a\u5bfc\u4f53"}],"since_excess":-0.0941,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":68.2,"tier":"moderate","components":{"pct_book":{"value":0.95,"points":33.25},"rank_top10":{"value":2,"points":15.0},"tilt":{"value":4.357,"points":10.0},"add_streak":{"value":0,"points":0.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"AVGO","issuer":"BROADCOM INC","shares":149800.0,"value_usd":46364598.0,"pct_book":8.68,"position_rank":3,"tilt_pp":4.149,"action":"hold","shares_change_pct":4.2,"add_streak_q":0,"persistence":"persisted","sector":"Technology","themes":[{"key":"ai_infra","name":"AI Infrastructure","name_zh":"AI \u57fa\u7840\u8bbe\u65bd"},{"key":"ai_semiconductors","name":"AI Semiconductors","name_zh":"AI\u534a\u5bfc\u4f53"},{"key":"us_sector_tech","name":"Technology (Equal-Weight)","name_zh":"\u4fe1\u606f\u6280\u672f\uff08\u7b49\u6743\uff09"}],"since_excess":-0.1336,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":66.5,"tier":"moderate","components":{"pct_book":{"value":0.9,"points":31.5},"rank_top10":{"value":3,"points":15.0},"tilt":{"value":4.149,"points":10.0},"add_streak":{"value":0,"points":0.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"AMD","issuer":"ADVANCED MICRO DEVICES INC","shares":219251.0,"value_usd":44602231.0,"pct_book":8.35,"position_rank":4,"tilt_pp":3.819,"action":"hold","shares_change_pct":-0.1,"add_streak_q":0,"persistence":"persisted","sector":"Technology","themes":[{"key":"ai_infra","name":"AI Infrastructure","name_zh":"AI \u57fa\u7840\u8bbe\u65bd"},{"key":"ai_semiconductors","name":"AI Semiconductors","name_zh":"AI\u534a\u5bfc\u4f53"},{"key":"us_sector_tech","name":"Technology (Equal-Weight)","name_zh":"\u4fe1\u606f\u6280\u672f\uff08\u7b49\u6743\uff09"}],"since_excess":0.1656,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":64.8,"tier":"moderate","components":{"pct_book":{"value":0.85,"points":29.75},"rank_top10":{"value":4,"points":15.0},"tilt":{"value":3.819,"points":10.0},"add_streak":{"value":0,"points":0.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"CHYM","issuer":"CHIME FINL INC","shares":2077615.0,"value_usd":38913729.0,"pct_book":7.28,"position_rank":5,"tilt_pp":2.755,"action":"trim","shares_change_pct":-23.3,"add_streak_q":0,"persistence":"persisted","sector":null,"themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":63.0,"tier":"moderate","components":{"pct_book":{"value":0.8,"points":28.0},"rank_top10":{"value":5,"points":15.0},"tilt":{"value":2.755,"points":10.0},"add_streak":{"value":0,"points":0.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"MKSI","issuer":"MKS INC.","shares":122264.0,"value_usd":28097490.0,"pct_book":5.26,"position_rank":6,"tilt_pp":0.73,"action":"add","shares_change_pct":524.4,"add_streak_q":2,"persistence":"persisted","sector":"Information Technology","themes":[{"key":"semicap_equipment","name":"Semiconductor Equipment (WFE)","name_zh":"\u534a\u5bfc\u4f53\u8bbe\u5907\uff08\u6676\u5706\u5382\u8bbe\u5907\uff09"}],"since_excess":0.0803,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":71.2,"tier":"high","components":{"pct_book":{"value":0.75,"points":26.25},"rank_top10":{"value":6,"points":15.0},"tilt":{"value":0.73,"points":10.0},"add_streak":{"value":2,"points":10.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"AMZN","issuer":"AMAZON COM INC","shares":124800.0,"value_usd":25992096.0,"pct_book":4.87,"position_rank":7,"tilt_pp":0.336,"action":"add","shares_change_pct":79.6,"add_streak_q":2,"persistence":"persisted","sector":"Consumer Cyclical","themes":[{"key":"mag7","name":"Magnificent Seven","name_zh":"\u4e03\u5de8\u5934"},{"key":"us_sector_discretionary","name":"Consumer Discretionary (Equal-Weight)","name_zh":"\u975e\u5fc5\u9700\u6d88\u8d39\uff08\u7b49\u6743\uff09"}],"since_excess":-0.0696,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":69.5,"tier":"moderate","components":{"pct_book":{"value":0.7,"points":24.5},"rank_top10":{"value":7,"points":15.0},"tilt":{"value":0.336,"points":10.0},"add_streak":{"value":2,"points":10.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"GTLB","issuer":"GITLAB INC","shares":1170000.0,"value_usd":25318800.0,"pct_book":4.74,"position_rank":8,"tilt_pp":0.21,"action":"add","shares_change_pct":10.4,"add_streak_q":4,"persistence":"persisted","sector":null,"themes":[{"key":"non_ai_software","name":"Non-AI Software","name_zh":"\u975eAI\u8f6f\u4ef6"}],"since_excess":0.3265,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":77.8,"tier":"high","components":{"pct_book":{"value":0.65,"points":22.75},"rank_top10":{"value":8,"points":15.0},"tilt":{"value":0.21,"points":10.0},"add_streak":{"value":4,"points":20.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"BILL","issuer":"BILL HOLDINGS INC","shares":625000.0,"value_usd":23937500.0,"pct_book":4.48,"position_rank":9,"tilt_pp":-0.049,"action":"trim","shares_change_pct":-28.8,"add_streak_q":0,"persistence":"persisted","sector":"Information Technology","themes":[],"since_excess":0.0926,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":46.0,"tier":"moderate","components":{"pct_book":{"value":0.6,"points":21.0},"rank_top10":{"value":9,"points":15.0},"tilt":{"value":-0.049,"points":0.0},"add_streak":{"value":0,"points":0.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"CPNG","issuer":"COUPANG INC","shares":1051957.0,"value_usd":19860948.0,"pct_book":3.72,"position_rank":10,"tilt_pp":-0.812,"action":"new","shares_change_pct":null,"add_streak_q":1,"persistence":"pending","sector":null,"themes":[{"key":"fv:softwareecommerce","name":"E-Commerce","name_zh":"E-Commerce"},{"key":"fv:ecommercegrocery","name":"Grocery","name_zh":"Grocery"}],"since_excess":0.0303,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":49.2,"tier":"moderate","components":{"pct_book":{"value":0.55,"points":19.25},"rank_top10":{"value":10,"points":15.0},"tilt":{"value":-0.812,"points":0.0},"add_streak":{"value":1,"points":5.0},"new_at_size":{"value":true,"points":10.0},"persisted":{"value":"pending","points":0.0}}}},{"ticker":"AMKR","issuer":"AMKOR TECHNOLOGY INC","shares":406990.0,"value_usd":18326760.0,"pct_book":3.43,"position_rank":11,"tilt_pp":-1.099,"action":"add","shares_change_pct":41.4,"add_streak_q":2,"persistence":"persisted","sector":"Information Technology","themes":[{"key":"fv:semispackaging","name":"Packaging","name_zh":"Packaging"}],"since_excess":-0.1188,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":37.5,"tier":"low","components":{"pct_book":{"value":0.5,"points":17.5},"rank_top10":{"value":11,"points":0.0},"tilt":{"value":-1.099,"points":0.0},"add_streak":{"value":2,"points":10.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"GOOGL","issuer":"ALPHABET INC","shares":42500.0,"value_usd":12221300.0,"pct_book":2.29,"position_rank":12,"tilt_pp":-2.242,"action":"trim","shares_change_pct":-68.4,"add_streak_q":0,"persistence":"persisted","sector":"Communication Services","themes":[{"key":"mag7","name":"Magnificent Seven","name_zh":"\u4e03\u5de8\u5934"},{"key":"ai_software","name":"AI Software & Platforms","name_zh":"AI \u8f6f\u4ef6\u4e0e\u5e73\u53f0"},{"key":"quantum_computing","name":"Quantum Computing","name_zh":"\u91cf\u5b50\u8ba1\u7b97"}],"since_excess":-0.1218,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":25.8,"tier":"low","components":{"pct_book":{"value":0.45,"points":15.75},"rank_top10":{"value":12,"points":0.0},"tilt":{"value":-2.242,"points":0.0},"add_streak":{"value":0,"points":0.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"IOT","issuer":"SAMSARA INC","shares":384000.0,"value_usd":12168960.0,"pct_book":2.28,"position_rank":13,"tilt_pp":-2.252,"action":"new","shares_change_pct":null,"add_streak_q":1,"persistence":"pending","sector":null,"themes":[{"key":"fv:hardwareindustrialiot","name":"Industrial IoT","name_zh":"Industrial IoT"},{"key":"fv:evsfleets","name":"Fleets","name_zh":"Fleets"},{"key":"fv:automationiot","name":"IoT","name_zh":"IoT"}],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":29.0,"tier":"low","components":{"pct_book":{"value":0.4,"points":14.0},"rank_top10":{"value":13,"points":0.0},"tilt":{"value":-2.252,"points":0.0},"add_streak":{"value":1,"points":5.0},"new_at_size":{"value":true,"points":10.0},"persisted":{"value":"pending","points":0.0}}}},{"ticker":"BE","issuer":"BLOOM ENERGY CORP","shares":50625.0,"value_usd":6859181.0,"pct_book":1.28,"position_rank":14,"tilt_pp":-3.246,"action":"new","shares_change_pct":null,"add_streak_q":1,"persistence":"persisted","sector":null,"themes":[{"key":"fv:energycleanhydrogen","name":"Hydrogen","name_zh":"Hydrogen"}],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":27.2,"tier":"low","components":{"pct_book":{"value":0.35,"points":12.25},"rank_top10":{"value":14,"points":0.0},"tilt":{"value":-3.246,"points":0.0},"add_streak":{"value":1,"points":5.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"NXPI","issuer":"NXP SEMICONDUCTORS N V","shares":25500.0,"value_usd":5019930.0,"pct_book":0.94,"position_rank":15,"tilt_pp":-3.59,"action":"hold","shares_change_pct":2.3,"add_streak_q":0,"persistence":"persisted","sector":"Technology","themes":[{"key":"non_ai_tech","name":"Non-AI Tech & Hardware","name_zh":"\u975eAI\u79d1\u6280\u4e0e\u786c\u4ef6"},{"key":"us_sector_tech","name":"Technology (Equal-Weight)","name_zh":"\u4fe1\u606f\u6280\u672f\uff08\u7b49\u6743\uff09"}],"since_excess":-0.064,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":20.5,"tier":"low","components":{"pct_book":{"value":0.3,"points":10.5},"rank_top10":{"value":15,"points":0.0},"tilt":{"value":-3.59,"points":0.0},"add_streak":{"value":0,"points":0.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"DDOG","issuer":"DATADOG INC","shares":40000.0,"value_usd":4722000.0,"pct_book":0.88,"position_rank":16,"tilt_pp":-3.646,"action":"new","shares_change_pct":null,"add_streak_q":1,"persistence":"persisted","sector":"Technology","themes":[{"key":"ai_software","name":"AI Software & Platforms","name_zh":"AI \u8f6f\u4ef6\u4e0e\u5e73\u53f0"},{"key":"non_ai_software","name":"Non-AI Software","name_zh":"\u975eAI\u8f6f\u4ef6"},{"key":"us_sector_tech","name":"Technology (Equal-Weight)","name_zh":"\u4fe1\u606f\u6280\u672f\uff08\u7b49\u6743\uff09"}],"since_excess":0.2456,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":23.8,"tier":"low","components":{"pct_book":{"value":0.25,"points":8.75},"rank_top10":{"value":16,"points":0.0},"tilt":{"value":-3.646,"points":0.0},"add_streak":{"value":1,"points":5.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"ADI","issuer":"ANALOG DEVICES INC","shares":10500.0,"value_usd":3340470.0,"pct_book":0.63,"position_rank":17,"tilt_pp":-3.904,"action":"hold","shares_change_pct":3.4,"add_streak_q":0,"persistence":"persisted","sector":"Technology","themes":[{"key":"non_ai_tech","name":"Non-AI Tech & Hardware","name_zh":"\u975eAI\u79d1\u6280\u4e0e\u786c\u4ef6"},{"key":"us_sector_tech","name":"Technology (Equal-Weight)","name_zh":"\u4fe1\u606f\u6280\u672f\uff08\u7b49\u6743\uff09"}],"since_excess":-0.1017,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":17.0,"tier":"low","components":{"pct_book":{"value":0.2,"points":7.0},"rank_top10":{"value":17,"points":0.0},"tilt":{"value":-3.904,"points":0.0},"add_streak":{"value":0,"points":0.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"GDS","issuer":"GDS HLDGS LTD","shares":71642.0,"value_usd":2886456.0,"pct_book":0.54,"position_rank":18,"tilt_pp":-3.989,"action":"hold","shares_change_pct":9.8,"add_streak_q":0,"persistence":"persisted","sector":null,"themes":[],"since_excess":-0.2439,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":15.2,"tier":"low","components":{"pct_book":{"value":0.15,"points":5.25},"rank_top10":{"value":18,"points":0.0},"tilt":{"value":-3.989,"points":0.0},"add_streak":{"value":0,"points":0.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"LITE","issuer":"LUMENTUM HLDGS INC","shares":2892.0,"value_usd":2032382.0,"pct_book":0.38,"position_rank":19,"tilt_pp":-4.149,"action":"new","shares_change_pct":null,"add_streak_q":1,"persistence":"pending","sector":"Technology","themes":[{"key":"ai_infra","name":"AI Infrastructure","name_zh":"AI \u57fa\u7840\u8bbe\u65bd"},{"key":"us_sector_tech","name":"Technology (Equal-Weight)","name_zh":"\u4fe1\u606f\u6280\u672f\uff08\u7b49\u6743\uff09"}],"since_excess":-0.2881,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":8.5,"tier":"low","components":{"pct_book":{"value":0.1,"points":3.5},"rank_top10":{"value":19,"points":0.0},"tilt":{"value":-4.149,"points":0.0},"add_streak":{"value":1,"points":5.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"pending","points":0.0}}}},{"ticker":"AMPL","issuer":"AMPLITUDE INC","shares":292844.0,"value_usd":1997196.0,"pct_book":0.37,"position_rank":20,"tilt_pp":-4.156,"action":"trim","shares_change_pct":-80.5,"add_streak_q":0,"persistence":"persisted","sector":null,"themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":11.8,"tier":"low","components":{"pct_book":{"value":0.05,"points":1.75},"rank_top10":{"value":20,"points":0.0},"tilt":{"value":-4.156,"points":0.0},"add_streak":{"value":0,"points":0.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}}],"book_meta":{"n_positions":23,"n_resolved":20,"resolution_pct":87.0,"book_value_usd":534227142.0,"filing_date":"2026-05-15","period_end":"2026-03-31"},"sector_series":[{"period_end":"2023-03-31","filing_date":"2023-05-15","weights":{"Unclassified":50.35,"Technology":30.31,"Consumer Cyclical":9.82,"Information Technology":5.45,"Communication Services":4.07},"top_theme_weights":{"AI & Technology":41.28,"Software":9.22,"Consumer Cyclical":2.92}},{"period_end":"2023-06-30","filing_date":"2023-08-14","weights":{"Unclassified":38.17,"Technology":32.28,"Communication Services":18.18,"Consumer Cyclical":11.38},"top_theme_weights":{"AI & Technology":54.85,"Software":11.01,"US Sectors (EW)":6.98}},{"period_end":"2023-09-30","filing_date":"2023-11-14","weights":{"Technology":40.72,"Unclassified":34.23,"Communication Services":13.25,"Consumer Cyclical":9.11,"Information Technology":2.68},"top_theme_weights":{"AI & Technology":55.74,"Software":13.57,"US Sectors (EW)":7.34}},{"period_end":"2023-12-31","filing_date":"2024-02-14","weights":{"Technology":44.89,"Unclassified":40.85,"Consumer Cyclical":5.76,"Communication Services":5.25,"Information Technology":3.26},"top_theme_weights":{"AI & Technology":54.58,"Software":7.85,"US Sectors (EW)":1.31}},{"period_end":"2024-03-31","filing_date":"2024-05-15","weights":{"Technology":45.11,"Unclassified":33.78,"Communication Services":9.36,"Consumer Cyclical":6.98,"Information Technology":4.77},"top_theme_weights":{"AI & Technology":56.4,"US Sectors (EW)":5.05,"Software":2.37}},{"period_end":"2024-06-30","filing_date":"2024-08-14","weights":{"Technology":44.92,"Unclassified":38.32,"Information Technology":6.94,"Consumer Cyclical":5.24,"Communication Services":4.58},"top_theme_weights":{"AI & Technology":48.78,"US Sectors (EW)":5.87,"Semiconductors & Hardware":0.09}},{"period_end":"2024-09-30","filing_date":"2024-11-14","weights":{"Unclassified":42.96,"Technology":42.11,"Consumer Cyclical":5.21,"Communication Services":4.94,"Information Technology":4.66,"Industrials":0.12},"top_theme_weights":{"AI & Technology":47.91,"Software":4.5,"US Sectors (EW)":4.24,"Energy & Power":0.12,"Semiconductors & Hardware":0.1}},{"period_end":"2024-12-31","filing_date":"2025-02-14","weights":{"Unclassified":49.35,"Technology":34.83,"Communication Services":7.86,"Consumer Cyclical":4.51,"Information Technology":2.39,"Industrials":1.02,"Utilities":0.04},"top_theme_weights":{"AI & Technology":44.29,"Software":5.0,"US Sectors (EW)":2.85,"Energy & Power":1.06,"Semiconductors & Hardware":0.06}},{"period_end":"2025-03-31","filing_date":"2025-05-15","weights":{"Unclassified":52.56,"Technology":25.09,"Information Technology":13.64,"Consumer Cyclical":4.56,"Communication Services":3.85,"Utilities":0.29},"top_theme_weights":{"AI & Technology":31.58,"Software":5.44,"Semiconductors & Hardware":1.06,"US Sectors (EW)":0.86,"Energy & Power":0.29}},{"period_end":"2025-06-30","filing_date":"2025-08-14","weights":{"Unclassified":50.49,"Technology":29.19,"Information Technology":9.02,"Communication Services":7.21,"Consumer Cyclical":3.8,"Utilities":0.28},"top_theme_weights":{"AI & Technology":34.97,"Software":4.37,"US Sectors (EW)":3.92,"Semiconductors & Hardware":1.32,"Energy & Power":0.28}},{"period_end":"2025-09-30","filing_date":"2025-11-14","weights":{"Unclassified":52.86,"Technology":28.12,"Information Technology":9.5,"Communication Services":5.01,"Utilities":2.66,"Consumer Cyclical":1.85},"top_theme_weights":{"AI & Technology":37.06,"Software":10.02,"Energy & Power":2.66,"Semiconductors & Hardware":1.24,"US Sectors (EW)":0.43}},{"period_end":"2025-12-31","filing_date":"2026-02-17","weights":{"Unclassified":48.81,"Technology":26.33,"Information Technology":9.6,"Communication Services":9.36,"Utilities":3.43,"Consumer Cyclical":2.47},"top_theme_weights":{"AI & Technology":34.02,"Software":7.7,"Energy & Power":3.43,"US Sectors (EW)":2.89,"Semiconductors & Hardware":1.26,"Semiconductors":0.48}},{"period_end":"2026-03-31","filing_date":"2026-05-15","weights":{"Unclassified":50.93,"Technology":28.74,"Information Technology":13.17,"Consumer Cyclical":4.87,"Communication Services":2.29},"top_theme_weights":{"AI & Technology":34.33,"Semiconductors":5.26,"Software":4.74,"Semiconductors & Hardware":1.56}}],"sector_rotation":{"into":[{"sector":"Information Technology","delta_pp":3.57},{"sector":"Technology","delta_pp":2.41},{"sector":"Consumer Cyclical","delta_pp":2.4}],"out_of":[{"sector":"Communication Services","delta_pp":-7.07},{"sector":"Utilities","delta_pp":-3.43}],"deltas":{"Information Technology":3.57,"Technology":2.41,"Consumer Cyclical":2.4,"Unclassified":2.12,"Utilities":-3.43,"Communication Services":-7.07},"period_end":"2026-03-31","prev_period_end":"2025-12-31","method_note":{"en":"Current sector/theme map applied to history \u2014 historical quarters are classified with today's sector and theme membership (survivorship-lite; past classification changes are not reconstructed).","zh":"\u4ee5\u5f53\u524d\u884c\u4e1a/\u4e3b\u9898\u6620\u5c04\u56de\u6eaf\u5386\u53f2\u2014\u2014\u5386\u53f2\u5b63\u5ea6\u6309\u4eca\u65e5\u7684\u884c\u4e1a\u4e0e\u4e3b\u9898\u6210\u5458\u5206\u7c7b\uff08\u8f7b\u5ea6\u5e78\u5b58\u8005\u53e3\u5f84\uff1b\u4e0d\u91cd\u5efa\u8fc7\u53bb\u7684\u5206\u7c7b\u53d8\u66f4\uff09\u3002"}},"theme_read":{"leans":[{"theme_key":"fv:aicompute","label":"Compute","label_zh":"Compute","category":"Artificial Intelligence","source":"finviz","tickers":["TSM"],"added_pp":21.3,"held_pp":21.3,"n_names":1},{"theme_key":"fv:semiscompute","label":"Compute","label_zh":"Compute","category":"Semiconductors","source":"finviz","tickers":["TSM"],"added_pp":21.3,"held_pp":21.3,"n_names":1},{"theme_key":"fv:semisfoundries","label":"Foundries","label_zh":"Foundries","category":"Semiconductors","source":"finviz","tickers":["TSM"],"added_pp":21.3,"held_pp":21.3,"n_names":1},{"theme_key":"fv:hardwarenextgen","label":"Next-Gen","label_zh":"Next-Gen","category":"Hardware","source":"finviz","tickers":["TSM"],"added_pp":21.3,"held_pp":21.3,"n_names":1},{"theme_key":"fv:nanotechelectronics","label":"Electronics","label_zh":"Electronics","category":"Nanotechnology","source":"finviz","tickers":["TSM"],"added_pp":21.3,"held_pp":21.3,"n_names":1},{"theme_key":"non_ai_software","label":"Non-AI Software","label_zh":"\u975eAI\u8f6f\u4ef6","category":"Software","source":"basket","tickers":["GTLB","DDOG"],"added_pp":5.62,"held_pp":5.62,"n_names":2}],"core":{"theme_key":"fv:aicompute","label":"Compute","label_zh":"Compute","category":"Artificial Intelligence","source":"finviz","tickers":["TSM"],"added_pp":21.3,"held_pp":21.3,"n_names":1},"narrative_en":"Core lean: Compute \u2014 added TSM (+21.3pp of book this quarter)","narrative_zh":"\u6838\u5fc3\u503e\u5411\uff1aCompute \u2014 \u672c\u5b63\u5ea6\u52a0\u4ed3 TSM\uff08\u5360\u7ec4\u5408 +21.3pp\uff09"}}