Value Aligned Research Advisors, LLC

PRINCETON, NJ · CIK 1963565 · 13F filing filed 2026-08-17

SEC-registered investment adviser since 2022 · limited liability company

Assets managed$9.1bn
Staff9 · 6 in investment roles
Main clients (by assets)Private funds 57%, Charities 43%
Private funds1 (1 hedge) · $5.2bn gross assets
Form ADV · 2026-09-22SEC adviser record

Legal entityValue Aligned Research Advisors, LLC (US)

Kindhedge funds
Others nearbyPrinceton, NJ

As an employer

Private fundshedge 1

$16.7bn reported value +98.2% vs Q1 2026

59positions

56.3%in top 10

13 new 24 added 15 reduced 7 sold out vs Q1 2026

Options: 48 call positions ($20.5bn notional), 16 put positions ($2.9bn notional) – listed below, not included above.

Holdings, Q2 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	BLOOM ENERGY CORP COM CL A BE	BE	5,585,179	$1.7bn10.10%	10.10%	Added +1.0m	+1,000,448 21.8%
2	NEBIUS GROUP N.V. SHS CLASS A NBIS	NBIS	6,104,121	$1.7bn10.08%	10.08%	Added +290.7k	+290,671 5.0%
3	COREWEAVE INC COM CL A CRWV	CRWV	10,886,110	$1.1bn6.48%	6.48%	Added +2.6m	+2,605,347 31.5%
4	INTEL CORP COM INTC	INTC	6,345,700	$886.1m5.30%	5.30%	Added +5.8m	+5,841,959 1159.7%
5	MICRON TECHNOLOGY INC COM MU	MU	733,007	$846.1m5.06%	5.06%	Added +514.2k	+514,199 235.0%
6	SANDISK CORP COM SNDK	SNDK	311,782	$708.9m4.24%	4.24%	Added +206.6k	+206,583 196.4%
7	SEAGATE TECHNOLOGY HLDNGS PL ORD SHS STX	STX	709,357	$684.5m4.09%	4.09%	Reduced -205.3k	-205,300 -22.4%
8	WESTERN DIGITAL CORP COM WDC	WDC	988,429	$631.3m3.77%	3.77%	Reduced -307.0k	-307,010 -23.7%
9	LUMENTUM HLDGS INC COM LITE	LITE	734,687	$630.4m3.77%	3.77%	Reduced -322.6k	-322,573 -30.5%
10	CELESTICA INC COM CLS	CLS	1,576,402	$575.1m3.44%	3.44%	Added +84.9k	+84,908 5.7%
11	COMFORT SYS USA INC COM FIX	FIX	243,607	$482.8m2.89%	2.89%	Added +30.0k	+29,970 14.0%
12	VERTIV HOLDINGS CO COM CL A VRT	VRT	1,437,807	$481.4m2.88%	2.88%	Reduced -502.1k	-502,062 -25.9%
13	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS TSM	TSM	1,007,480	$481.1m2.88%	2.88%	Added +1.0m	+1,006,800 148058.8%
14	AMAZON COM INC COM AMZN	AMZN	1,625,565	$387.4m2.32%	2.32%	Added +1.6m	+1,620,643 32926.5%
15	IREN LIMITED ORDINARY SHARES IREN	IREN	8,467,327	$387.2m2.31%	2.31%	Added +3.7m	+3,699,720 77.6%
16	FTAI AVIATION LTD SHS FTAI	FTAI	1,393,259	$376.9m2.25%	2.25%	Added +322.4k	+322,367 30.1%
17	TERAWULF INC COM WULF	WULF	12,263,135	$302.9m1.81%	1.81%	Added +4.4m	+4,414,903 56.2%
18	EMCOR GROUP INC COM EME	EME	349,960	$290.4m1.74%	1.74%	Added +126.4k	+126,439 56.6%
19	ASTERA LABS INC COM ALAB	ALAB	568,316	$274.5m1.64%	1.64%	Unchanged
20	CIPHER MINING INC COM CIFR	CIFR	11,125,393	$272.6m1.63%	1.63%	Added +123.8k	+123,787 1.1%
21	EQT CORP COM EQT	EQT	4,614,894	$245.4m1.47%	1.47%	Added +426.9k	+426,906 10.2%
22	CEREBRAS SYSTEMS INC COM CL A CBRS	CBRS	1,094,722	$241.9m1.45%	1.45%	New
23	APPLIED OPTOELECTRONICS INC COM AAOI	AAOI	1,595,124	$236.3m1.41%	1.41%	Added +327.2k	+327,186 25.8%
24	CORE SCIENTIFIC INC NEW COM CORZ	CORZ	9,187,797	$235.1m1.41%	1.41%	Added +1.5m	+1,468,835 19.0%
25	APPLIED DIGITAL CORP COM NEW APLD	APLD	5,546,030	$206.9m1.24%	1.24%	Reduced -1.1m	-1,122,281 -16.8%
26	ECHOSTAR CORP CL A ECHO	ECHO	1,905,515	$193.4m1.16%	1.16%	New
27	FORGENT POWER SOLUTIONS INC COM SHS CL A FPS	FPS	3,158,622	$176.4m1.05%	1.05%	New
28	HUT 8 CORP COM HUT	HUT	1,440,342	$166.3m0.99%	0.99%	Reduced -1.4m	-1,442,224 -50.0%
29	NVIDIA CORPORATION COM NVDA	NVDA	800,769	$160.2m0.96%	0.96%	Reduced -52.9k	-52,927 -6.2%
30	BROADCOM INC COM AVGO	AVGO	407,611	$154.0m0.92%	0.92%	Added +358.7k	+358,700 733.4%
31	ASML HOLDING N V N Y REGISTRY SHS ASML	ASML	70,548	$140.4m0.84%	0.84%	Unchanged
32	ACM RESH INC COM CL A ACMR	ACMR	1,053,949	$133.7m0.80%	0.80%	Added +98.0k	+98,022 10.2%
33	ALPHABET INC CAP STK CL A GOOGL	GOOGL	370,302	$132.3m0.79%	0.79%	Added +358.8k	+358,800 3119.5%
34	COHERENT CORP COM COHR	COHR	319,191	$125.9m0.75%	0.75%	Reduced -966.0k	-966,009 -75.2%
35	SPACE EXPLORATION TECHN CORP CLASS A COM STK SPCX	SPCX	589,723	$100.8m0.60%	0.60%	New
36	CREDO TECHNOLOGY GROUP HOLDI ORDINARY SHARES CRDO	CRDO	337,998	$91.9m0.55%	0.55%	New
37	ADVANCED MICRO DEVICES INC COM AMD	AMD	155,600	$90.4m0.54%	0.54%	New
38	RIOT PLATFORMS INC COM RIOT	RIOT	3,290,544	$90.1m0.54%	0.54%	Reduced -1.9m	-1,886,374 -36.4%
39	BITDEER TECHNOLOGIES GROUP CL A ORD SHS BTDR	BTDR	5,203,764	$82.6m0.49%	0.49%	Added +1.2m	+1,157,551 28.6%
40	FERVO ENERGY CO CL A COM FRVO	FRVO	2,160,607	$63.2m0.38%	0.38%	New
41	STERLING INFRASTRUCTURE INC COM STRL	STRL	73,360	$61.6m0.37%	0.37%	Reduced -16.1k	-16,112 -18.0%
42	LEGENCE CORP CL A LGN	LGN	692,150	$59.0m0.35%	0.35%	Added +384.0k	+384,009 124.6%
43	INNIO NV ORDINARY SHARES INIO	INIO	1,355,362	$53.6m0.32%	0.32%	New
44	LAM RESEARCH CORP COM NEW LRCX	LRCX	121,597	$52.7m0.31%	0.31%	Reduced -979.0k	-978,959 -89.0%
45	GE VERNOVA INC COM GEV	GEV	44,433	$52.2m0.31%	0.31%	Unchanged
46	APPLIED MATLS INC COM AMAT	AMAT	69,591	$50.3m0.30%	0.30%	Reduced -662.1k	-662,113 -90.5%
47	BABCOCK & WILCOX ENTERPRISES COM BW	BW	2,238,024	$31.6m0.19%	0.19%	New
48	TRANSALTA CORP COM TAC	TAC	2,139,907	$29.6m0.18%	0.18%	Reduced -456.4k	-456,366 -17.6%
49	KEEL INFRASTRUCTURE CORP COM SHS KEEL	KEEL	5,154,360	$29.6m0.18%	0.18%	New
50	EROCK INC CL A COM EROC	EROC	1,345,920	$19.5m0.12%	0.12%	New
51	BKV CORP COM BKV	BKV	679,899	$18.6m0.11%	0.11%	Added +356.8k	+356,848 110.5%
52	ORACLE CORP COM ORCL	ORCL	115,078	$16.9m0.10%	0.10%	Unchanged
53	FERMI INC COM FRMI	FRMI	1,367,995	$12.5m0.07%	0.07%	New
54	TALEN ENERGY CORP COM TLN	TLN	17,716	$6.8m0.04%	0.04%	Reduced -52.0k	-51,987 -74.6%
55	HALLADOR ENERGY COMPANY COM HNRG	HNRG	320,759	$5.6m0.03%	0.03%	Unchanged
56	TSS INC DEL COM TSSI	TSSI	261,498	$3.2m0.02%	0.02%	Reduced -199.0k	-199,012 -43.2%
57	ALPHABET INC CAP STK CL C GOOG	GOOG	4,785	$1.7m0.01%	0.01%	Unchanged
58	MICROSOFT CORP COM MSFT	MSFT	374	$139.5k0.00%	0.00%	Unchanged
59	META PLATFORMS INC CL A META	META	124	$69.8k0.00%	0.00%	New

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
FREEPORT-MCMORAN INC FCX	FCX	4,421,462	$259.9m4.4m shares
KLA CORP KLAC	KLAC	1,434,010	$211.1m1.4m shares
SNOWFLAKE INC SNOW	SNOW	481,340	$72.6m481.3k shares
SOLARIS ENERGY INFRAS INC SEI	SEI	896,985	$50.7m897.0k shares
TOWER SEMICONDUCTOR LTD TSEM	TSEM	270,441	$47.5m270.4k shares
LIBERTY ENERGY INC LBRT	LBRT	1,264,006	$36.4m1.3m shares
BITFARMS LTD BITF	BITF	7,815,121	$15.2m7.8m shares

Options (notional value)

Underlying	Ticker	Type	Shares controlled	Notional	Change
ALPHABET INC GOOGL · Call	GOOGL	Call	13,034,100	$4.7bn13.0m shares	Added
AMAZON COM INC AMZN · Call	AMZN	Call	18,270,300	$4.4bn18.3m shares	Added
NVIDIA CORPORATION NVDA · Call	NVDA	Call	20,168,900	$4.0bn20.2m shares	Added
MICRON TECHNOLOGY INC MU · Call	MU	Call	1,004,700	$1.2bn1.0m shares	Added
TAIWAN SEMICONDUCTOR MFG LTD TSM · Call	TSM	Call	2,194,700	$1.0bn2.2m shares	Reduced
NVIDIA CORPORATION NVDA · Put	NVDA	Put	4,455,500	$891.5m4.5m shares	Added
INTEL CORP INTC · Call	INTC	Call	6,307,700	$880.7m6.3m shares	Reduced
ASML HOLDING N V ASML · Call	ASML	Call	320,600	$637.8m320.6k shares	Added
TAIWAN SEMICONDUCTOR MFG LTD TSM · Put	TSM	Put	1,302,000	$621.8m1.3m shares	Reduced
COREWEAVE INC CRWV · Call	CRWV	Call	5,779,700	$575.3m5.8m shares	Added
BROADCOM INC AVGO · Put	AVGO	Put	1,445,700	$546.1m1.4m shares	Added
ADVANCED MICRO DEVICES INC AMD · Put	AMD	Put	613,000	$356.1m613.0k shares	New
ADVANCED MICRO DEVICES INC AMD · Call	AMD	Call	607,400	$352.8m607.4k shares	Reduced
MICROSOFT CORP MSFT · Call	MSFT	Call	935,900	$349.1m935.9k shares	Added
ORACLE CORP ORCL · Call	ORCL	Call	2,099,500	$307.7m2.1m shares	Reduced
VERTIV HOLDINGS CO VRT · Call	VRT	Call	911,000	$305.0m911.0k shares	Added
BROADCOM INC AVGO · Call	AVGO	Call	655,000	$247.4m655.0k shares	Reduced
NEBIUS GROUP N.V. NBIS · Call	NBIS	Call	837,500	$231.3m837.5k shares	Added
ZOOM COMMUNICATIONS INC ZM · Call	ZM	Call	2,600,700	$224.5m2.6m shares	Added
MICROSOFT CORP MSFT · Put	MSFT	Put	538,900	$201.0m538.9k shares	New
SANDISK CORP SNDK · Call	SNDK	Call	75,300	$171.2m75.3k shares	Added
FREEPORT-MCMORAN INC FCX · Call	FCX	Call	1,935,000	$121.7m1.9m shares	Added
APPLIED MATLS INC AMAT · Call	AMAT	Call	151,500	$109.5m151.5k shares	Unchanged
LAM RESEARCH CORP LRCX · Call	LRCX	Call	184,700	$80.0m184.7k shares	Reduced
FREEPORT-MCMORAN INC FCX · Put	FCX	Put	1,272,200	$80.0m1.3m shares	New