Strategy
NVDA supply chain
US-listed companies that supply NVIDIA — foundry, memory, equipment, packaging, networking, cooling, and OEM partners named in NVDA's 10-K or industry disclosures.
These strategies are RULE-BASED PROXIES named after well-known investors as a recognizable shorthand for each philosophy. They are NOT those investors' actual portfolios, holdings, or recommendations. The names are used purely as labels for the underlying screening criteria, which are listed in full on every page. ActaClear has no affiliation with any of the named investors. Past performance does not guarantee future results. This is not investment advice — always do your own due diligence.
The exact criteria
- ✓Foundry (sole partner): TSM
- ✓Memory: MU
- ✓Equipment: ASML, AMAT, LRCX, KLAC
- ✓Packaging: AMKR
- ✓Networking partner: ANET
- ✓Power & cooling: VRT
- ✓OEMs that buy NVDA at scale: SMCI, DELL, HPE
- ✓Optical: COHR, LITE
Curated list — 14 tickers, hand-maintained. No screener, no rules.
In the list (14)
The list reflects today's knowledge of who's in this group. See the hindsight warning on the backtest below.
| Rank | Company | Latest revenue | 5y avg ROE | 5y avg net margin | D/E |
|---|---|---|---|---|---|
| 1 | TSM TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD | $3.81T | 29.5% | 41.3% | 0.01 |
| 2 | MU MICRON TECHNOLOGY INC | $37.38B | 7.6% | 7.6% | 0.26 |
| 3 | ASML ASML HOLDING NV | — | — | — | — |
| 4 | AMAT APPLIED MATERIALS INC /DE | $28.37B | 43.1% | 25.6% | 0.32 |
| 5 | LRCX LAM RESEARCH CORP | $18.44B | 64.6% | 26.8% | 0.38 |
| 6 | KLAC KLA CORP | $12.16B | 116.6% | 32.0% | 1.25 |
| 7 | AMKR AMKOR TECHNOLOGY, INC. | $6.71B | 13.7% | 7.6% | 0.29 |
| 8 | ANET Arista Networks, Inc. | $9.01B | 29.7% | 34.9% | — |
| 9 | VRT Vertiv Holdings Co | $10.23B | 25.0% | 5.9% | 1.19 |
| 10 | SMCI Super Micro Computer, Inc. | $21.97B | 20.1% | 6.0% | 0.74 |
| 11 | DELL Dell Technologies Inc. | $113.54B | — | 4.3% | — |
| 12 | HPE Hewlett Packard Enterprise Co | $34.30B | 8.3% | 6.2% | 0.72 |
| 13 | COHR COHERENT CORP. | $5.81B | 1.2% | 1.8% | 0.62 |
| 14 | LITE Lumentum Holdings Inc. | $1.65B | -9.2% | -3.6% | 2.26 |
How would this strategy have performed?
Equal-weight across all 14 list members, rebalanced every six months back to equal weight, vs SPY. Read the caveats below.
We could not have known 5 years ago which companies would become NVIDIA's load-bearing suppliers — that depended on AI taking off, on hyperscale capex shifting to GPUs, and on packaging/cooling bottlenecks that only emerged in 2023-24. A 5-year backtest on this list is heavily hindsight-biased: every name benefited from the buildout we now know happened. Use it to understand the SHAPE of the AI supply-chain rerating, NOT as a track record you could have captured in real time.
- Survivorship bias: we only see companies that exist in our database today. Anything that was acquired, went bankrupt, or got delisted is invisible. This systematically OVERSTATES historical returns for any rule-based screen — losers are removed.
- Look-ahead bias (v1): picks are chosen with today's fundamentals, not the fundamentals that were public at the start of the lookback. A true point-in-time backtest is on the roadmap.
- Price freshness: end prices are the most-recent value in our database, which may lag the live market by weeks for less-popular tickers.
- Equal-weight, no rebalancing, no transaction costs, no taxes, no dividends reinvested. This is a free rule-based simulation, NOT a track record and NOT investment advice.
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