Alpha Framework Portfolio
Exclusively for Alpha Premium Members

Last Updated: 11/28 10:49pm

Portfolio Overview

Week one of the Alpha Framework Portfolio is complete.
The portfolio is now fully deployed across twelve positions, each chosen based on:

• structural upside

• clean price behavior

• liquidity

• and defined risk

No trims.
No sells.
Nothing touched invalidation.
Performance outpaced the broader market, and the portfolio is behaving extremely clean early — exactly how a new book should look.

Performance vs Benchmark

• Portfolio: +8.39%

• SPX: +3.20%

• Outperformance: +5.19%

Portfolio value: $43,327.37
Unrealized gain: +$3,327.37 (+8.57%)
Realized gain: $0.00
Total gain: +$3,327.37 (+8.32%)
Cash: $1,155.36

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Portfolio Allocation (Current Weights)

Core Positions

Largest weights. Clear structural upside. Strongest conviction.

• LMND

• CIFR

• SOFI

• NU

• ZETA

Mid-Tier Positions

Meaningful weight. Strong setups. Slightly lower priority than core.

• EOSE

• HIMS

• TMDX

• COIN

Smaller / Optionality Positions

Sized intentionally small. Carry long-term asymmetric potential.

• ETHUSD

• FLNC

• ABCL

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Portfolio Allocation (Sector Weights)

Sector Breakdown

AI Infrastructure / Hyperscaler Compute Lessors

The real bottleneck in AI isn’t GPUs anymore — it’s power and energized capacity.
Cipher sits directly in that slipstream.

• CIFR – AI-infrastructure developer with $8.5B in binding AWS + Google/Fluidstack contracts. Controls energized megawatts and converts power into high-value compute for hyperscalers. Existing 150MW at Black Pearl pulls revenue into 2026. One of the most mispriced assets in the entire AI-infra ecosystem.

Fintech / Neobanking / Financial Infrastructure

Tech-enabled financial services — digital money movement, lending, underwriting.

• SOFI – Consumer finance + digital bank

• NU – Leading LatAm neobank

• LMND – Insurtech underwriting automation

• COIN – Crypto financial infrastructure & custody

Software / Data / Ad-Tech / Insurtech

Recurring revenue. Data-driven personalization. Modern software rails.

• ZETA – Enterprise marketing cloud, ML personalization at scale

• LMND – Automation-driven underwriting (hybrid classification)

Energy Storage / Grid Infrastructure

Industrial exposure to the energy transition.

• FLNC – Utility-scale energy storage

• EOSE – Long-duration zinc-based storage

Healthcare / Medical Devices / Telehealth / Biotech

A mix of a high-quality operator, a consumer health platform, and biotech R&D.

• TMDX – Medical logistics + transplant device platform

• HIMS – Direct-to-consumer telehealth with recurring demand

• ABCL – Antibody discovery engine (biotech R&D)

Layer-One Settlement Infrastructure

The decentralized settlement layer for global stable-coins and tokenized assets.

• ETHUSD – Ethereum, the base-layer blockchain powering stable-coin flows and on-chain liquidity. A long-duration settlement asset — not a traditional currency and not tied to AI cycles.

My Watchlist

This Week’s Moves

Initiated Positions:

• LMND – 100 @ $69.78
  Early entry into a mispriced growth story. Structure remains tight.

• CIFR – 300 @ $17.61
  Hyperscaler-aligned AI-infrastructure developer. Contracts exceed EV. Earnings pulled into 2026.

• SOFI – 150 @ $26.35
  Multi-month structure intact. Fundamentals continue to improve.

• ZETA – 200 @ $18.45
  Execution strong. Price aligning with fundamentals.

• NU – 225 @ $16.09
  Clean trend, surging profitability.

• TMDX – 20 @ $146.11
  High-quality operator with durable demand.

• HIMS – 75 @ $38.34
  Predictable DTC health model with recurring revenue.

• EOSE – 200 @ $13.81
  Tight structure. Watching volume continuation.

• COIN – 10 @ $254.56
  Controlled crypto-linked exposure.

• ETHUSD – 0.69 @ $2,911
  Base-layer blockchain providing settlement for stablecoins.

• FLNC – 100 @ $16.61
  Utility-scale storage exposure.

• ABCL – 150 @ $3.64
  Small optionality position.

Trims:

• None

Sells:

• None

Notes:
Week one was strictly portfolio construction.
Core names got size, optionality names stayed small, and nothing approached risk levels.

Purpose of This Page

Why It Exists:

• To give Alpha Premium members a clear view of the portfolio’s structure.

• To show exactly how conviction is expressed through sizing.

• To outline where capital is deployed and where it isn’t.

• To provide transparency behind every move made each week.

• To keep all activity in one place for easy review.

How to Use It:

• Check the page after each weekly update.

• Follow sizing and conviction shifts over time.

• Use it as the anchor for what matters during the week.

• Reference it when new trades or updates are released.

This page updates once per week and reflects all activity shown in the weekly Alpha Framework Portfolio emails.

That’s It — Welcome to the Inside.