Added to $OSCR @ $17. Got smashed on this name which got dragged down on $CNC readthrough, probably should not have bought the top. It happens, I still like the co so will keep adding if it goes lower.

$AVAV also hit us with that $600m++ equity offering. Same story with $KTOS, I’m okay holding it as thesis doesn’t change, so far. Not adding as size is large enough.

This week is pretty rough for the portfolio.

Initiated Long Position – $OUST @ $22.09. Came across this in my research on drones

Core Drone Differentiators IMO
1. Connections and access to U.S. government procurement channels
2. Ability for drones to conduct autonomous operations in GPS-denied environments
3. Advanced AI platform enabling one operator to control multiple assets

#2 rely heavily on sensors. If a drone can’t reliably “see” in 3-D, ID a target, and pull the trigger by itself, it’s just a remote-controlled plane that can no longer function in today’s evolved GPS-denied battlefields.

OUST Overview
• Largest U.S. LiDAR supplier following the 2023 Velodyne merger
• Addressable markets over the next five years:
• Military and ISR drones
• Commercial delivery drones
• Warehouse and logistics robotics
• Robotaxis and other autonomous vehicles
• Other tailwinds like mapping and smart city infrastructures, and agricultural/mining automation

Historical Issues
• Persistent losses: early-stage LiDAR economics due to lack of adoption of nascent tech, limited scale, heavy R&D
• Margin pressure from low-cost Chinese competitors

Why Now
• Regulators and OEMs increasingly recognise LiDAR’s superior range, depth accuracy, and safety versus camera-only or radar solutions (e.g., Waymo, Pony.ai deployments). While robotaxis are admittedly not OUST’s largest customers atm, it’s a valuable call option to have.
• U.S. supply-chain protection limits pricing pressures from Chinese vendors
• Management pursuing a software-attach model to raise gross margin

Setup
• Share price remains depressed post 2021 SPAC; could make for a good trade as “SPAC comebacks” are all the rage these days
• If LiDAR adoption accelerates, scale economics and software revenue can exponentially move the business toward profitability
• Favourable risk-reward considering all of the above, and recent pullback

It’s a buy-and-forget position for me

Got back into $SBET @ $14.37. Think there's little upside left for MSTR copycat treasury companies to adopt BTC, hence will probably see more turn to ETH. ETH narrative might also pick up in tradfi, given the blooming defi and stablecoin ecosystems secured by the ETH network. If so, maybe SBET as a ETH treasury company is a good bet imo.

Also converted all of my $KTOS, except for LEAPS, into $AVAV around $241-244. Said I wouldnt size up more on AVAV, but I thought about it and couldnt help it. AVAV shouldn't be priced cheaper than $KTOS on a valuation basis, hence I am trying to take advantage of this temporary mispricing.

Only concern I have on AVAV is it all seems too good to be true, and I've been burned before by stocks like these. Price action is also very weak in the past week, and I'm worried it might be due to insider trading of potential contract losses (hate that I have to actually worry about insider trading). But yea, sizing up on AVAV here.

May write a longer form article on AVAV when I have the time.

Cut $OSCR @ $16.3-$16.7 to add to $AVAV @ $230~, $KTOS @ $44.5~, $OUST @ $23~

Took a heavy black eye from $OSCR. Didn’t understand the company and regulatory risk with the OBBB well enough, plus the complex healthcare/insurance sector is not suited for a generalist like me.

Totally deserve that loss and will approach any bio/healthcare/insurance stocks with more caution in future. Might be selling the bottom but we live and let live!

Added $9961.HK (Trip.com) @ $484.8. They’re going to be a big beneficiary as China tourism gradually returns, and they’re also taking share in intl market.

A personal anecdote: These days I don’t mind paying slightly more to book my flights on Trip, as everything from hotels, car rentals, and flights can be consolidated there. Their integration with flight data is also super helpful — you get to see the check in counter, gate, and any potential delays etc before you’re even at the airport. Try it yourself next time you travel!

Also increased $SBET position by 5% @ $16.58 last night. Training myself to align my portfolio to my views and conviction levels.

Sold $KTOS @ $45.75 (just a tactical trade) and shifted the size to $TER @ $96.93

Closed $HOOD @ $97.1 and shifted the size to $TER @ $98.02.

Still bullish on $HOOD in general, but I want to reduce concentration to crypto given that I still have my crypto portfolio in addition to equity names like $SBET & $3350.JT.

$TER is a good bet meanwhile.

https://defensescoop.com/2025/07/10/hegseth-memo-unleashing-us-military-drone-dominance-deadlines/

Hegseth directive on ‘unleashing U.S. military drone dominance — moved $AVAV +4% in the aftermarket.“Hegseth referred to uncrewed systems as “the biggest battlefield innovation in a generation.”

Seems like we got the US military’s approach right too. Low cost suicide drones are the focus, which AVAV is renowned for. Switchblade 600 has the leading share in the U.S. army and allied nations. “By the end of 2026, “every squad” is to be equipped with “low-cost, expendable drones,” with priority going to Indo-Pacific combat units.”

AVAV is one of my highest conviction play in 2025, and I’m sized accordingly so. The king of military drones, with battle-tested capabilities and the strongest sales access to the Pentagon. Strong existing pipeline, with multiple high-potential $1b+ product launches that are likely to win new contracts. The name will benefit from Anduril’s IPO too; last private round was $30.5bn.

$SBET +37% to $19.8, from our first buy 3 days ago. Might make sense to trim some here depending on your risk appetite — though there can still be room to run as mNAV is still low at 2.15x.

Holding ETH price constant, SBET price can rise through expansion of mNAV, which can be attained if 1) ETH is recognized as a viable alternative treasury asset to BTC — in terms of usecases, volatility, return, liquidity etc, and 2) SBET convinces market of its ability to continue raising funds — which ties back to (1) and Joseph Lubin’s reputation

https://x.com/secdef/status/1943401411431026977?s=46

See video for more. $AVAV is also getting more Wall St coverage lately — GS initiated 2 weeks ago, Cantor Fitzgerald (ties to Howard Lutnick in Trump admin) initiated last week

Added more $AVAV @ $247.23

Drone companies popped off yesterday. Good to see quality companies leading the pack; suggests momentum to the rally

Shifted $3350.JT position @ $1561 Yen to $8473.JT @ $ $5488 Yen

Thesis is the same as SBET; little upside left for BTC denominated treasury copycats — difference is 8473.JT is a Ripple play with their 9% equity stake. I can see a ripple labs IPO soon, and if it comes it will perform well imo.

https://x.com/afpost/status/1944687749585314081?s=46

$AVAV

$SBET is an absolute monster. +86% in less than a week, had to trim some @ $26.81.

Added to $8473.JT @ $5700 Yen

While we’re banking on SBET and the likes, I think treasury companies moving out of BTC into altcoins is the start of the euthanasia rollercoaster for these “strategy” companies.

We can participate while the music is playing, but impt to remember to not drink our own kool-aid. As they say, you can’t go broke taking profit.

Added $MP, average cost basis @ $52.04. Small cap, VERY speculative, top of the chart etc — so smaller position and a mid to long-term hold. Initially added @ $46.5 on DoD deal, and sized up here @ $53.8 - $54.6 on Apple investment news.

Rare earth is going to drive the electronic appliances of the future, while its supply gets choked from trade tensions. MP reminds me of $VST — commodity manufacturer, with a commodity that has turned into gold overnight.