$LITE

Does he own it?

In an explicit portfolio-breakdown post he lists Lumentum at a 5% weight within a 10% photonics sleeve (alongside AXTI and COHR). He separately confirms owning many of his photonics names personally. The position disclosure is direct and first-person, not mere coverage.

His thesis

He sees Lumentum as a core beneficiary of the AI photonics/optical-interconnect supercycle, supplying a meaningful slice of Google TPU optics and riding hyperscaler capex. He treats it as the safe, large-cap incumbent of the space and a high-quality long, while repeatedly using it as the benchmark against which he pitches higher-upside smaller names (AAOI, SIVE, AXTI, IQE). Notes constraints: locked-up multi-year EML supply and forced purchases of CW lasers from rivals, which he frames as a risk that benefits competitors.

How his view evolved

Started as an established anchor in his photonics-supply-chain mapping and a held 5% position. Stayed consistently bullish as it roughly doubled, but increasingly cast it as the incumbent yardstick for his preferred smaller bets and flagged its CW-laser sourcing constraint.

Key points

• Explicitly disclosed at a 5% portfolio weight in the photonics sleeve
• Framed as a quality incumbent long tied to Google TPU optics and hyperscaler capex
• Used as the large-cap benchmark for his higher-conviction small-cap photonics picks

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