$IQE
iqe plc9/10Does he own it?
Repeated unambiguous first-person ownership: states he owns it, entered long at ~$12-13, personally added, and gives explicit position disclosures ("have positions in IQE"). Lists it among his core European longs throughout. No portfolio weight % ever stated (he says he only shares return %, not sizing/dollars).
His thesis
IQE is the largest independent merchant compound-semiconductor epiwafer foundry by reactor count, trading at a distressed ~$100-180M cap because of legacy RF/wireless drag and net debt, while pure-play peer Landmark is valued near $3.5-4B. Thesis: a known Lumentum supplier with huge latent InP reactor capacity for the photonics/hyperscaler buildout; if it sells its Taiwan unit, clears debt, and pivots capacity to InP epiwafers, the equity re-rates many-fold. Framed as a binary, high-risk turnaround with dilution as the main downside.
How his view evolved
Began as a speculative binary restructuring moonshot tied to AXTI->IQE->Lumentum->Google mapping. As shares ran 4x+ and institutions (Point72) plus MACOM and Tower Semi deals appeared, he framed it as de-risked and validated, taking repeated victory laps.
Key points
- Owns it; entered long near $12-13 and added, with explicit position disclosures
- CORE flagship call alongside AXTI; deep multi-tweet DD on latent epiwafer capacity vs Landmark valuation gap
- Thesis hinged on restructuring/debt-clearing; later cited MACOM investment and Tower Semi deal as validation
Derived from a holistic read of his public posts — paraphrased, never quoted. See his actual posts about $IQE on X ↗