Ridindex Since Inception Chart:
Link to Current Positions HERE
🏆 Top 5 Contributors This Month:
MU (Long) (+0.62%) – Micron extends its leadership in DRAM/NAND recovery, with AI server demand and pricing power boosting margins.
UAMY (Long) (+0.40%) – United States Antimony spikes on rising critical-minerals attention and domestic sourcing incentives.
FSLR (Long) (+0.40%) – First Solar climbs as U.S. utility-scale solar projects accelerate and results were significantly better than feared.
SLX.AX (Long) (+0.24%) – Silex Systems benefits from uranium enrichment revival and nuclear fuel supply chain reshoring.
298040.KS (Hyosung Heavy Industries, Long) (+0.22%) – Power equipment orders and grid-hardening demand drive continued strength in Korea’s industrials.
💣 Largest Drawdowns This Month:
NET (Short) (–0.35%) – Cloudflare surged on AI-infrastructure optimism and resilient developer adoption.
XBI (Short) (–0.41%) – Biotech ETF squeeze weighed on short as risk appetite returned.
4180.T (Appier Group, Long) (–0.43%) – Weak margins and muted digital-ad budgets pressured AI-marketing sentiment.
FI (Fiserv, Long) (–0.46%) – Fintech rotation into legacy processors dragged on the position.
OPRA (Opera Ltd-ADR, Long) (–0.65%) – Opera sold off on user growth concerns and lower monetization per MAU.
🔍 Watchlist & Tactical Pipeline
We’re actively monitoring the following themes for potential entry or re-engagement:
Memory & Materials Renaissance
An under appreciated capex cycle in advanced memory, specialty semiconductors, and enabling materials. Tight supply chains and AI-driven demand convergence are beginning to reshape global cost curves, a long runway for fabrication, substrates, and niche processors.
Critical Minerals & Domestic Sourcing
The overlooked spine of decarbonization: antimony, rare alloys, and strategic metals tied to national-security sourcing mandates. A slow-moving but durable theme as Western and Asian governments onshore material sovereignty.
Power Infrastructure & Energy Repricing
The industrial expression of policy stimulus, solar, nuclear, and grid equipment capacity expanding in parallel. Beneficiaries span generation to transmission, with multi-year tailwinds from both transition incentives and grid reliability imperatives.
Industrial Rebuild & Logistics Efficiency
A continuation of the “hard power” reshoring trend: steel mesh, freight systems, and high-voltage components forming the backbone of industrial revitalization. Inflation-linked pricing and backlog visibility remain the dominant drivers.
Applied Intelligence & Digital Adjacencies
Selective engagement in next-gen software, infrastructure, and consumer-tech ecosystems where AI utility (not hype) is being monetized. Focused on the layer between compute and interface, the bottleneck where data becomes product.
Structural Shorts
We remain positioned against narrative-driven SaaS and speculative consumer platforms where valuation elasticity has far outpaced operating leverage.
Final Notes
Given the broader quant liquidation and extreme factor rotations this month, the Ridindex is generally marked safe despite the drawdown, and we’re grateful it wasn’t worse considering the dislocation across the long/short equity landscape. The sharpest damage came from QBTS and PATH shorts, with additional drag from our sizable long in IBIT during a weak month for Bitcoin proxies.
As always, I keep these updates intentionally concise, the goal is to surface only what’s essential for quick decision-making. Everyone has their own screening process; my ideas are meant to flow into those frameworks, not replace them. With so much noise in the market, clarity is the real edge.
If anything is unclear or you’d like added context, raise it in the chat or comments. While I can’t always disclose every detail for alpha-sensitivity reasons, good questions often surface useful nuances or overlooked risks.
In closing: the Ridindex is built for real exposure, sized with conviction, and hedged with flexibility. Trades go live in real time, performance remains fully transparent. The next review drops after the November close, until then, stay sharp.
Disclaimer:
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