Napean Trading & Investment Co (Singapore) PTE Ltd

2. Key Holdings

The portfolio is dominated by "Magnificent Seven" components and large-cap growth leaders, which form the core of the firm's equity exposure.

• Broadcom (AVGO) is the largest holding, comprising 15.96% of the portfolio ($24.25M). The firm increased this stake by 30.5%, adding $8.73 million, signaling strong confidence in the semiconductor and infrastructure AI narrative.
• Mastercard (MA) represents 11.83% of the portfolio ($17.98M). As a stake in the payments duopoly, this serves as a defensive growth anchor. The firm increased its position by 54.7%, making it one of the top capital inflows for the quarter.
• NVIDIA (NVDA) holds an 11.19% weighting ($17.00M). Despite the volatility often associated with AI semiconductors, the firm added aggressively (+66.2%), reinforcing a heavy bet on the AI trade.
• Communication Services leaders Alphabet (GOOGL), Netflix (NFLX), and Meta (META) collectively account for roughly 23% of the portfolio. Notably, while the firm significantly increased stakes in GOOGL (+139.7%) and NFLX (+18.2%), it drastically reduced its exposure to META by 52.4%, indicating a specific preference within the communication sector.

3. Sector Allocation

The portfolio exhibits a clear pro-cyclical growth tilt with a heavy emphasis on the technology ecosystem.

• Technology (37.2%): This is the dominant sector, driven by semiconductors (AVGO, NVDA) and software/enablers (SHOP, CRWD, NTNX). The concentration here suggests the firm is targeting high-growth areas of the economy.
• Financial Services (25.8%): This sector is well-represented through payments (MA), infrastructure (SBAC), and emerging fintech (CHYM). The inclusion of IBIT (iShares Bitcoin Trust) at 1.6% introduces a speculative/asymmetric asset class to the financials bucket.
• Communication Services (23.1%): A substantial overweight to internet and media giants, specifically GOOGL, NFLX, and META.
• Consumer Defensive (8.3%) and Healthcare (5.6%): These sectors play minor roles, represented solely by McKesson (MCK) and Coherent Corp (COHR), respectively. The low allocation to defensive staples contrasts with the high volatility of the tech-heavy portfolio.