Value Aligned Research Advisors, LLC In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Value Aligned Research Advisors, LLC reported 33 stock positions worth $1.2 billion . Its top holding was Vistra (VST) at 14.1% of the portfolio, followed by GE Vernova (GEV, 12.3% ) and Micron Technology (MU, 10.6% ). Compared with Q4 2024, it opened 9 new positions, sold out of 3, added to 22 and reduced 2. The biggest buy was Vistra (VST, shares +1131% ) and the biggest sale Marvell Technology (MRVL, shares −55% ).
Location PRINCETON, NJ
CIK 0001963565
Portfolio Value $1.2B (Q1 2025) Holdings 33 stocks · $1.2B Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q4 2024 VST Vistra Corp. 1,482,091 $174.1M Add +1131.3% GEV GE Vernova Inc. 494,624 $151.0M Add +396.2% MU Micron Technology Inc. 1,505,060 $130.8M Add +406.0% CEG Constellation Energy 634,487 $127.9M Add +1079.7% VRT Vertiv Holdings Co. Class A 1,722,237 $124.3M Add +309.9% ALAB Astera Labs Inc. 1,333,198 $79.6M Add +814.7% NRG NRG Energy Inc. 745,694 $71.2M Add +930.3% TLN Talen Energy Corp. 350,793 $70.0M New NBIS Nebius Group NV 1,879,815 $39.7M Add +261.2% CLS Celestica Inc. 496,453 $39.1M Add +500.5% RIOT Riot Platforms Inc. 5,012,983 $35.7M Add +79.9% COHR Coherent Corp. 524,984 $34.1M Add +409.6% BE Bloom Energy Corp. Class A 1,609,187 $31.6M Add +25.6% ONTO Onto Innovation Inc. 223,840 $27.2M Add +24.1% CRDO Credo Technology Group Holdi 668,067 $26.8M New FN Fabrinet 114,443 $22.6M Add +240.9% CAMT Camtek Ltd. 235,238 $13.8M Add +2.5% MRVL Marvell Technology Inc. 137,617 $8.5M Reduce -55.4% AMAT Applied Materials Inc. 57,188 $8.3M New AAON Aaon Inc. 38,462 $3.0M New NVDA Nvidia Corp. 24,566 $2.7M Add +90.1% TSSI TSS Inc. 252,128 $2.0M Add +34.0% LRCX Lam Research Corp. 21,514 $1.6M New TSM Taiwan Semiconductor-SP ADR 7,949 $1.3M Add +480.2% AVGO Broadcom Inc. 5,949 $996K Add +423.2% AMZN Amazon.com Inc. 4,563 $868K Add +73.0% KLAC KLA Corp. 1,007 $685K New GOOGL Alphabet Inc. Class A 3,847 $595K Add +227.4% GOOG Alphabet Inc. Class C 3,160 $494K Add +163.8% ORCL Oracle Corp. 1,555 $217K New EQT Eqt Corp. 2,850 $152K New ASML ASML Holding NV-NY Reg SHS 100 $66K New MSFT Microsoft Corp. 120 $45K Reduce -68.6%
Options reported separately and not counted above: NVDA calls ($22.3M), TSM calls ($19.4M), GOOGL calls ($15.9M), AVGO calls ($12.7M), MU calls ($9.5M), VST calls ($8.2M), CEG calls ($7.6M), AMZN calls ($7.2M), VRT calls ($6.2M), MSFT calls ($6.0M), ORCL calls ($5.5M), GEV calls ($4.9M), and 16 more.
Portfolio Sells Q4 2024 → Q1 2025 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2024 % Of Portfolio Change To Portfolio ▲ MRVL Marvell Technology Inc. Reduce -55.4% 0.69% −8.83 SGOV iShares 0-3 Month Treasury B Sold out 0.00% −1.99 ANET Arista Networks Inc. Sold out 0.00% −1.45 OKLO Oklo Inc. Sold out 0.00% −0.34 MSFT Microsoft Corp. Reduce -68.6% 0.00% −0.04
Portfolio Buys Q4 2024 → Q1 2025 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2024 % Of Portfolio Change To Portfolio ▼ VST Vistra Corp. Add +1131.3% 14.14% +9.50 CEG Constellation Energy Add +1079.7% 10.39% +7.03 TLN Talen Energy Corp. New 5.69% +5.69 NRG NRG Energy Inc. Add +930.3% 5.78% +3.96 MU Micron Technology Inc. Add +406.0% 10.62% +3.63 GEV GE Vernova Inc. Add +396.2% 12.27% +3.11 CRDO Credo Technology Group Holdi New 2.18% +2.18 ALAB Astera Labs Inc. Add +814.7% 6.46% +1.07 CLS Celestica Inc. Add +500.5% 3.18% +1.05 AMAT Applied Materials Inc. New 0.67% +0.67 AAON Aaon Inc. New 0.24% +0.24 LRCX Lam Research Corp. New 0.13% +0.13 KLAC KLA Corp. New 0.06% +0.06 COHR Coherent Corp. Add +409.6% 2.77% +0.04 TSM Taiwan Semiconductor-SP ADR Add +480.2% 0.11% +0.03 ORCL Oracle Corp. New 0.02% +0.02 EQT Eqt Corp. New 0.01% +0.01 AVGO Broadcom Inc. Add +423.2% 0.08% +0.01 ASML ASML Holding NV-NY Reg SHS New 0.01% +0.01 GOOGL Alphabet Inc. Class A Add +227.4% 0.05% −0.01 GOOG Alphabet Inc. Class C Add +163.8% 0.04% −0.02 AMZN Amazon.com Inc. Add +73.0% 0.07% −0.09 FN Fabrinet Add +240.9% 1.84% −0.23 NVDA Nvidia Corp. Add +90.1% 0.22% −0.27 TSSI TSS Inc. Add +34.0% 0.16% −0.46 NBIS Nebius Group NV Add +261.2% 3.22% −0.80 VRT Vertiv Holdings Co. Class A Add +309.9% 10.10% −3.23 CAMT Camtek Ltd. Add +2.5% 1.12% −4.06 RIOT Riot Platforms Inc. Add +79.9% 2.90% −5.05 BE Bloom Energy Corp. Class A Add +25.6% 2.57% −5.38 ONTO Onto Innovation Inc. Add +24.1% 2.21% −6.19
Options Activity Q4 2024 → Q1 2025 Security Type Change vs Q4 2024 Underlying Shares Value ▼ NVDA Nvidia Corp. call Add +22.4% 205,700 $22.3M TSM Taiwan Semiconductor-SP ADR call Add +10.7% 117,100 $19.4M GOOGL Alphabet Inc. Class A call Add +81.0% 103,000 $15.9M AVGO Broadcom Inc. call Add +65.0% 75,900 $12.7M MU Micron Technology Inc. call Add +141.5% 109,900 $9.5M VST Vistra Corp. call Add +3400.0% 70,000 $8.2M CEG Constellation Energy call Add +162.5% 37,800 $7.6M AMZN Amazon.com Inc. call Add +535.0% 38,100 $7.2M VRT Vertiv Holdings Co. Class A call Add +84.3% 85,700 $6.2M MSFT Microsoft Corp. call Reduce -30.3% 16,100 $6.0M ORCL Oracle Corp. call New 39,100 $5.5M GEV GE Vernova Inc. call Add +60.6% 15,900 $4.9M ALAB Astera Labs Inc. call Add +369.5% 38,500 $2.3M MRVL Marvell Technology Inc. call Reduce -17.9% 33,600 $2.1M COHR Coherent Corp. call Add +264.3% 25,500 $1.7M NRG NRG Energy Inc. call Add +52.0% 15,200 $1.5M LRCX Lam Research Corp. call New 16,200 $1.2M RIOT Riot Platforms Inc. call Add +99.9% 139,900 $996K CRDO Credo Technology Group Holdi call New 22,000 $884K AMAT Applied Materials Inc. call New 5,700 $827K ASML ASML Holding NV-NY Reg SHS call New 1,200 $795K NBIS Nebius Group NV call Add +516.7% 37,000 $781K TLN Talen Energy Corp. call New 3,500 $699K BE Bloom Energy Corp. Class A call Add +25.1% 33,900 $666K CLS Celestica Inc. call Reduce -16.7% 8,000 $630K AMD Advanced Micro Devices call New 3,100 $318K EQT Eqt Corp. call New 4,000 $214K KLAC KLA Corp. call New 300 $204K ANET Arista Networks Inc. call Sold out 2,700 $24Kbefore exit
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 59 $16.7B BE, NBIS, CRWV, INTC, MU Q1 2026 53 $8.4B LITE, CRWV, BE, NBIS, VRT Q4 2025 47 $4.9B LITE, CRWV, VRT, CLS, BE Q3 2025 Amended 42 $4.3B CRWV, VRT, CLS, CEG, VST Q2 2025 35 $2.2B VST, MU, CEG, VRT, GEV Q1 2025 33 $1.2B VST, GEV, MU, CEG, VRT Q4 2024 Amended 27 $358.0M VRT, MRVL, GEV, ONTO, RIOT Q3 2024 21 $384.9M MRVL, ONTO, AMAT, VRT, LRCX Q2 2024 20 $456.4M AMAT, LRCX, MRVL, ONTO, VRT Q1 2024 19 $507.0M AMD, SMCI, LRCX, AMAT, CDNS