Portfolio Update – New Position
Yesterday I opened a new, limited position in Symbotic ($SYM), representing 1.41% of the portfolio. I've been watching it for quite a while now and this is the right moment to strike.
Why this company?
Symbotic builds AI-powered robotic systems that fully automate warehouses and distribution centers. The real advantage is in the *how*. Traditional warehouse automation often requires large greenfield buildings or major redesigns. Symbotic’s AI-driven bots can work inside existing facilities, densifying storage and optimizing floor space without forcing a full relocation. They handle mixed, chaotic inventory flows — different SKUs, sizes and velocities — in a highly flexible way that conventional systems struggle with. This combination of high-throughput case handling and intelligent, adaptive logistics is what makes the technology attractive.
For me, this plays the physical side of AI. We hear about generative AI, cloud and chips everywhere. But the real-world application of AI — in warehouses, factories and supply chains — is still relatively early. I believe that physical adoption will accelerate significantly in the coming years. This position is an early entry into that shift.
What does it do for the portfolio?
The core remains focused on the AI infrastructure value chain (compute, memory, lithography, cloud). Symbotic adds a different link: the automation of the physical logistics required to keep that AI world running. It diversifies the exposure without abandoning the conviction in the structural AI trend. The position is deliberately kept small, precisely because of the customer concentration risk (particularly Walmart).
Why now?
Recent results show the company is transitioning from pure growth to improving profitability. Recurring revenue from software and services is growing strongly, the number of operational systems is rising, and the backlog of more than $22 billion provides multi-year visibility. After the correction of recent months, I found the risk/reward more attractive for a small, targeted position.
We continue to focus on structural trends and disciplined position sizing.... Show More
Not investment advice. The author may have financial interests in the mentioned instruments.
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