Value Aligned Research Advisors, LLC In its 13F for Q3 2025 (holdings as of September 30, 2025, filed December 3, 2025), Value Aligned Research Advisors, LLC reported 42 stock positions worth $4.3 billion . Its top holding was Coreweave Class A (CRWV) at 9.7% of the portfolio, followed by Vertiv Class A (VRT, 7.7% ) and Celestica (CLS, 7.7% ). Compared with Q2 2025, it opened 9 new positions, sold out of 2, added to 25 and reduced 7. The biggest buy was a new position in Coreweave Class A (CRWV) and the biggest sale GE Vernova (GEV, shares −86% ).
Location PRINCETON, NJ
CIK 0001963565
Portfolio Value $4.3B (Q3 2025) Holdings 42 stocks · $4.3B 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 Q2 2025 CRWV Coreweave Inc. Class A 3,079,120 $421.4M New VRT Vertiv Holdings Co. Class A 2,221,109 $335.1M Add +26.6% CLS Celestica Inc. 1,359,711 $335.0M Add +14.1% CEG Constellation Energy 943,864 $310.6M Add +32.0% VST Vistra Corp. 1,562,250 $306.1M Add +14.2% BE Bloom Energy Corp. Class A 3,223,969 $272.7M Add +57.7% ALAB Astera Labs Inc. 1,378,351 $269.9M Add +16.7% MU Micron Technology Inc. 1,483,742 $248.3M Reduce -21.4% NBIS Nebius Group NV 2,009,450 $225.6M Reduce -9.8% TLN Talen Energy Corp. 445,039 $189.3M Add +18.2% IREN Iren Ltd. filed as IREN LIMITED 3,873,337 $181.8M Add +18.6% NRG NRG Energy Inc. 892,960 $144.6M Add +150.2% EQT Eqt Corp. 2,346,705 $127.7M Add +418.6% RIOT Riot Platforms Inc. 5,570,188 $106.0M Add +8.3% COHR Coherent Corp. 680,599 $73.3M Add +192.7% AVGO Broadcom Inc. 219,909 $72.6M Add +1157315.8% HUT Hut 8 Corp. 1,948,995 $67.8M Add +110.2% LRCX Lam Research Corp. 500,863 $67.1M Add +3.8% CIFR Cipher Digital Inc. 5,104,537 $64.3M New AGX Argan Inc. 225,750 $61.0M Add +104.2% AMAT Applied Materials Inc. 247,969 $50.8M Add +123.9% AAON Aaon Inc. 527,874 $49.3M Add +57.8% SNOW Snowflake Inc. 212,829 $48.0M New FIX Comfort Systems USA Inc. 54,715 $45.1M New FN Fabrinet 116,817 $42.6M Reduce -39.6% KLAC KLA Corp. 37,140 $40.1M Add +58.0% GEV GE Vernova Inc. 54,717 $33.6M Reduce -85.8% GTLB Gitlab Inc. Class A 712,184 $32.1M New BTDR Bitdeer Technologies Group-A 1,378,789 $23.6M Add +65.6% NVDA Nvidia Corp. 97,259 $18.1M Reduce -26.0% EME Emcor Group Inc. 27,179 $17.7M New WULF Terawulf Inc. 1,136,932 $13.0M New TAC Transalta Corp. 745,013 $10.2M Add +17.6% TSSI TSS Inc. 431,263 $7.8M Add +22.1% LGN Legence Corp. Class A 205,254 $6.3M New HNRG Hallador Energy Co. 320,759 $6.3M Add +1038.2% BKV BKV Corporation 170,652 $3.9M New GOOGL Alphabet Inc. Class A 11,502 $2.8M Reduce -84.0% GOOG Alphabet Inc. Class C 4,785 $1.2M No change AMZN Amazon.com Inc. 4,922 $1.1M Add +5430.3% MSFT Microsoft Corp. 374 $194K Reduce -19.7% TSM Taiwan Semiconductor-SP ADR 680 $190K Add +34.9%
Options reported separately and not counted above: NVDA calls ($543.5M), TSM calls ($510.5M), INTC calls ($378.3M), GOOGL calls ($338.2M), TSM puts ($304.0M), AMZN calls ($289.0M), AVGO calls ($275.4M), MSFT calls ($189.7M), NVDA puts ($186.8M), MU calls ($120.2M), ORCL calls ($98.4M), AVGO puts ($83.3M), and 27 more.
Portfolio Sells Q2 2025 → Q3 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 Q2 2025 % Of Portfolio Change To Portfolio ▲ GEV GE Vernova Inc. Reduce -85.8% 0.78% −8.32 MU Micron Technology Inc. Reduce -21.4% 5.73% −4.67 FN Fabrinet Reduce -39.6% 0.98% −1.57 CORZ Core Scientific Inc. Sold out 0.00% −1.03 NVDA Nvidia Corp. Reduce -26.0% 0.42% −0.51 GOOGL Alphabet Inc. Class A Reduce -84.0% 0.06% −0.50 NBIS Nebius Group NV Reduce -9.8% 5.21% −0.30 MSFT Microsoft Corp. Reduce -19.7% 0.00% −0.01 AMD Advanced Micro Devices Sold out 0.00% −0.00
Portfolio Buys Q2 2025 → Q3 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 Q2 2025 % Of Portfolio Change To Portfolio ▼ CRWV Coreweave Inc. Class A New 9.72% +9.72 BE Bloom Energy Corp. Class A Add +57.7% 6.29% +4.11 IREN Iren Ltd. Add +18.6% 4.19% +2.07 EQT Eqt Corp. Add +418.6% 2.95% +1.77 AVGO Broadcom Inc. Add +1157315.8% 1.67% +1.67 CIFR Cipher Digital Inc. New 1.48% +1.48 ALAB Astera Labs Inc. Add +16.7% 6.23% +1.46 SNOW Snowflake Inc. New 1.11% +1.11 FIX Comfort Systems USA Inc. New 1.04% +1.04 HUT Hut 8 Corp. Add +110.2% 1.57% +0.80 NRG NRG Energy Inc. Add +150.2% 3.34% +0.78 COHR Coherent Corp. Add +192.7% 1.69% +0.76 GTLB Gitlab Inc. Class A New 0.74% +0.74 EME Emcor Group Inc. New 0.41% +0.41 AGX Argan Inc. Add +104.2% 1.41% +0.32 WULF Terawulf Inc. New 0.30% +0.30 AMAT Applied Materials Inc. Add +123.9% 1.17% +0.27 LGN Legence Corp. Class A New 0.15% +0.15 HNRG Hallador Energy Co. Add +1038.2% 0.14% +0.12 BTDR Bitdeer Technologies Group-A Add +65.6% 0.54% +0.12 BKV BKV Corporation New 0.09% +0.09 AAON Aaon Inc. Add +57.8% 1.14% +0.04 AMZN Amazon.com Inc. Add +5430.3% 0.02% +0.02 TSM Taiwan Semiconductor-SP ADR Add +34.9% 0.00% −0.00 KLAC KLA Corp. Add +58.0% 0.92% −0.02 TAC Transalta Corp. Add +17.6% 0.23% −0.07 RIOT Riot Platforms Inc. Add +8.3% 2.45% −0.15 TSSI TSS Inc. Add +22.1% 0.18% −0.27 TLN Talen Energy Corp. Add +18.2% 4.37% −0.52 LRCX Lam Research Corp. Add +3.8% 1.55% −0.55 CLS Celestica Inc. Add +14.1% 7.73% −0.58 VRT Vertiv Holdings Co. Class A Add +26.6% 7.73% −2.33 CEG Constellation Energy Add +32.0% 7.17% −3.14 VST Vistra Corp. Add +14.2% 7.06% −4.79
Options Activity Q2 2025 → Q3 2025 Security Type Change vs Q2 2025 Underlying Shares Value ▼ NVDA Nvidia Corp. call Add +36.5% 2,913,200 $543.5M TSM Taiwan Semiconductor-SP ADR call Add +37.1% 1,828,000 $510.5M GOOGL Alphabet Inc. Class A call Add +0.5% 1,391,100 $338.2M TSM Taiwan Semiconductor-SP ADR put Add +38.2% 1,088,500 $304.0M AMZN Amazon.com Inc. call Add +54.8% 1,316,200 $289.0M AVGO Broadcom Inc. call Add +11.5% 834,900 $275.4M MSFT Microsoft Corp. call Add +36.2% 366,200 $189.7M NVDA Nvidia Corp. put Add +159.4% 1,001,400 $186.8M ORCL Oracle Corp. call Add +18.1% 350,000 $98.4M AVGO Broadcom Inc. put Add +237.3% 252,600 $83.3M CRWV Coreweave Inc. Class A call Add +20.0% 473,200 $64.8M QCOM Qualcomm Inc. put Add +64.0% 355,500 $59.1M LRCX Lam Research Corp. call Add +0.9% 147,300 $19.7M AMAT Applied Materials Inc. call New 92,500 $18.9M SNOW Snowflake Inc. call New 49,400 $11.1M
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