Trivest Advisors Ltd

Trivest Advisors' Q1 2026 13F is a $1.39B, 29-position portfolio whose AUM fell dramatically from $2.19B in Q4 2025 to $1.39B in Q1 2026 (-$803M, -36.7%) -- one of the steepest single-quarter AUM contractions in this cohort -- driven by coordinated reductions across the portfolio's prior mega-cap technology core (NVIDIA -73.5% shares, -$190.9M; Broadcom -94.5% shares, -$240.3M; Microsoft -95.2% shares, -$177.9M; Sandisk -96.4% shares, -$103.6M; Amazon -77.5% shares, -$70.8M; Western Digital -60.6% shares, -$57.4M; Futu -48.3% shares, -$50.5M; Alphabet -35.4% shares, -$28.2M; Trip.com -64.3% shares, -$27.4M). The manager rotated into a new semiconductor-and-semiconductor-equipment core: Micron (+28.1% shares, +$90.2M, the portfolio's new anchor at $264.9M, 19.1%), Lam Research (+8.8% shares, +$45.9M, $174.3M, 12.6%), Lumentum (+19.1% shares, +$83.4M, $149.0M, 10.7%), and new opens in Teradyne ($135.4M, 9.8%, semiconductor test equipment), Bloom Energy ($132.8M, 9.6%, solid-oxide fuel cells), and Coherent ($14.9M, 1.1%, laser-and-optical components). The quarter's 38 total changes (8 new, 9 sold, 8 increased, 13 decreased) reflects a near-complete portfolio reconstruction: the manager sold 9 positions from Q4 (Alphabet A, NVIDIA, Broadcom, Microsoft, Sandisk, Amazon, Futu, Trip.com, Morgan Stanley, Disney, KKR, Blackstone, EchoStar, Meta, VXX, Hut 8, Terawulf, Alibaba, Coreweave) and opened 8 new positions concentrated in semiconductor equipment, data storage, optical components, testing, and industrial tech. A 77.25 whaleScore on $1.39B reflects AUM threshold. The portfolio is best read as a concentrated technology-and-semiconductor hedge fund that completed a major thematic rotation in Q1 2026: exiting mega-cap AI-and-cloud names (NVIDIA, Broadcom, Microsoft) that had driven 2024-2025 returns and rotating into the semiconductor-and-semiconductor-equipment supply chain (Micron, Lam, Lumentum, Teradyne) and adjacent data-and-energy infrastructure (Bloom Energy, Corning, Coherent) that the manager views as the next cycle's winners.