$COHR

Does he own it?

Two explicit first-person disclosures: a Jan 24 post listing COHR among names he owns, and a Feb 7 portfolio breakdown placing it at 2.5% (within a 10% photonics sleeve). Later he frames COHR as a "safer/high-concentration" held compounder. Undercut only by it being one of dozens of names he covers, not a hero pick.

His thesis

COHR is a vertically integrated photonics/optical leader spanning substrates, EML lasers, transceivers and SiC, positioned to benefit from the AI-driven optical interconnect supercycle (800G/1.6T, sold-out capacity through 2027-28). He treats it as a "they do everything" defensible compounder and a direct beneficiary of NVIDIA's multibillion-dollar optical investment. Seen as crowded/priced-in versus his higher-upside upstream picks, but a steady, lower-beta core holding.

How his view evolved

Early on a recurring supply-chain name and disclosed holding (2.5% weight). Mid-period framed as a "safer compounder" core position. Later relegated to steady "gold standard" status while his fresh conviction rotated upstream to AXTI, AAOI and SIVE.

Key points

• Explicitly disclosed as owned and sized at 2.5% of portfolio
• Framed as a vertically integrated, lower-beta photonics compounder vs his high-beta upstream bets
• Direct beneficiary of NVIDIA optical funding and the sold-out optical transceiver cycle

Derived from a holistic read of his public posts — paraphrased, never quoted. See his actual posts about $COHR on X ↗