$XFAB
x-fab silicon foundries8/10Does he own it?
First tweet states he took a position; he repeatedly calls it one of his longs and in the final recap lists it among his core European longs, saying he is holding it and believes he is right. First-person ownership language is consistent throughout. No explicit portfolio percentage weight was ever disclosed.
His thesis
A small-cap European foundry (around 1.3-1.7B MC) seen as deeply undervalued, trading below replacement book value amid an automotive legacy slump. Core upside is its pre-commercial silicon photonics foundry being evaluated by Nvidia and Nokia, positioning it as Europe's photonics value-chain leader backed by EU and US CHIPS Act subsidies. Near-term bridge from being the only high-volume SiC/GaN power-semi foundry in the US, riding the 800V datacenter push. Framed as an early-stage analog to Tower Semiconductor.
How his view evolved
Opened by disclosing a new position tied to the EU CHIPS Act 2 catalyst, then defended it against meme-stock labels and elaborated the photonics and power-semi thesis. After the policy package confirmed photonics, he reaffirmed conviction and listed it among his core longs, still holding despite volatility.
Key points
- Below-replacement-value foundry with dual-continent government subsidies seen as de-risking downside
- Nvidia/Nokia evaluating its pre-commercial silicon photonics foundry; main upside past 2027
- Only high-volume US SiC foundry, fast-growing power-semi vertical as a near-term bridge
Derived from a holistic read of his public posts — paraphrased, never quoted. See his actual posts about $XFAB on X ↗