Citrini Research

Semis Memo: Muscle Memory

Memory Test, Semicap Subsystems and Emerging Trades in the AI Semis Supply Chain

Jan 26 • Citrini

209

14

8

Macro Memo: Running Hot

AI Productivity, Geopolitics, New Macro Trades

Jan 14 • Citrini

174

10

10

December 2025

26 Trades for 2026

A Thematic Watchlist for the New Year

Dec 17, 2025 • Citrini

245

24

8

November 2025

Carving Up the TPU

Leftovers for Jensen or Just Gravy on the AI Trade?

Nov 27, 2025 • Citrini

168

14

5

Macro Memo: Mo-vember

Momentum Drawdowns, Economic Uncertainty, Macro Trades

Nov 17, 2025 • Citrini

154

7

I Can See Clearly Now… The Rain Is Gone?

Healthcare Innovation in Calmer Times (for Now)

Nov 3, 2025 • Citrini

90

2

October 2025

Power Struggle: Natural Gas

Everyone Hates It, Everyone Wants It

Oct 17, 2025 • Citrini

214

19

15

Macro Memo: Red October

Is it Oct-Over?

Oct 12, 2025 • Citrini

185

5

September 2025

Stargate: A Citrini Field Trip

“What if Manhattan, but Computers?”

Sep 28, 2025 • Citrini

232

14

19

Single Stock Long Thesis

Inspector Data Center

Sep 18, 2025 • Citrini

199

20

7

Macro Memo: Summer is Over

Economy at Crossroads, Market at Risk

Sep 3, 2025 • Citrini

153

4

10

August 2025

State of the Themes

Long GOOGL, Asian Outperformance, the “Age of Virality” and more

Aug 18, 2025 • Citrini

196

5