Andar Capital Management HK Ltd

Key Holdings

• CREDO TECHNOLOGY GROUP HOLDI: Largest position at $14.85M (33.49%). Even after a reported 40% reduction this quarter, it remains the dominant position and the primary driver of portfolio-level risk and return.
• IBIT (iShares Bitcoin Trust ETF): $7.67M (17.29%), increased by 31.1 (+$2.16M). This is the second-largest holding and provides direct crypto-market exposure via an ETF rather than through equities.
• FABRINET and TOWER SEMICONDUCTOR: New positions of $3.06M (6.91%) and $3.04M (6.85%) respectively, indicating exposure to outsourced semiconductor and analog/foundry supply chains.
• Other mid-sized positions (each ~4.4–6.3%): COHR (Coherent) $2.80M, REDWIRE $2.70M, CELESTICA $2.46M, FLUENCE $2.16M, NUSCALE $2.16M, ASTERA LABS $1.96M. These are predominantly small-cap / specialized technology, industrial, and energy infrastructure names.
• Very small position: WOLFSPEED $47.8K (0.11%).

The portfolio is dominated by small-to-mid cap, high-volatility names and a sizable allocation to a crypto ETF.