A transparent record of high-conviction entries and tactical exits that have defined the I/O Fund's technology portfolio performance since inception.
These outcomes are the result of a repeatable process: real-time execution, strict interpretation of position activity, and clear invalidation rules that protect capital when conditions change.
As of August 2026, 42 positions have outperformed the NASDAQ-100 since the AI bull market began in 2023.
PROCESSIdentified the large AI rotation in late May. Raised significant cash, which was also deployed July 27th and 28th, one day before the market bottomed.
TIMINGEarly to the AI Energy theme, recognizing power infrastructure as a key bottleneck for AI growth. Built a large Bloom Energy (BE) position between April and July 2025, the core position finished the year up 305%, with the lowest entry returning 422%.
INFRASTRUCTUREThe team built a large Astera Labs position near the 2025 lows, capturing a major AI infrastructure opportunity before broader momentum returned. The position delivered a 140% return for the year, significantly outperforming a passive buy-and-hold approach.
INFRASTRUCTUREIncreased cash to 50% in January 2025, then issued 22 buy alerts between February and April — 9 of which occurred on the April 4th market low.
RISK MANAGEMENTIssued 4 sell alerts for Bitcoin when it was trading between $95,000 - $113,000, closing out ~90% of our total position, just before the October top.
TIMINGIdentified Super Micro (SMCI) as a leveraged AI infrastructure play tied to Nvidia's growth cycle. The position generated combined realized returns of 243%, while risk was actively managed before later volatility appeared in the stock.
INFRASTRUCTUREClosed Netflix for a 164% realized gain. This position was first bought around the July lows in 2022, focusing on the company's move into connected TV advertising.
GAINAllocated 45% to AI going into 2023 (prior to the launch of ChatGPT), representing one of the highest AI allocations on record.
ALLOCATIONAfter accurately predicting the start of a new Bitcoin bull market in late 2022, we issued 13 buy alerts between $25,000–$60,000.
CRYPTOAfter being early to Cloud stocks in 2019, we closed all cloud positions and began rotating into semiconductors.
ROTATIONIssued 9 trade alerts under $20 between 2021–2022, including one at $10.85 on the October 2022 low.
SEMICONDUCTORSelected the two top-performing cloud stocks in 2021 (DDOG and ASAN)
PERFORMANCEBuilt at position in a little known alt-coin in 2019 at $4.60. Sold the entire position at $40.05, just before Crypto topped in early 2021.
TIMINGRotated early into cloud infrastructure in 2019 and selected Roku as a top-performing technology stock. The team also identified Zoom Video before its major pandemic-era rise, showing early recognition of cloud adoption trends.
ROTATION
The leading team in AI stocks identified one of the few darlings of the AI trend in 2023. The little-known company called Super Micro produces AI servers for Nvidia’s A100 and H100 GPUs. Beth Kindig first introduced our readers to this stock in May of 2023. Her thesis was that it was downstream from NVDA […]
Bitcoin was one of the first reports that we issued to our readers when we started our service in 2019. Beth Kindig has been writing about crypto since 2013, which led to our firm being early to Bitcoin and maintaining our conviction despite the naysayers.
Lead Tech Analyst Beth Kindig first identified Nvidia’s AI GPU and CUDA moat thesis in November 2018. She later stated in 2019 and again in 2021 that Nvidia would soon surpass Apple’s valuation. At the time, this was inconceivable, as it would require Nvidia to skyrocket while Apple plateaued. The I/O Fund initially bought Nvidia […]
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