Just caught that Capricorn Investment Group trimmed their Navitas Semiconductor stake back in February. They dumped about 1.19 million shares for roughly 11.4 million, bringing their holdings down to about 8 million shares worth 57 million. Still their fifth-largest position though, so they're clearly not bailing completely.

What caught my eye is that Navitas is working with gallium nitride power IC formula technology for efficiency gains, which is pretty relevant given where the market's heading with AI infrastructure. The company's been transitioning toward data center solutions, though revenue did take a hit - down 45% year-over-year in 2025. That's rough, but Capricorn's holding pattern suggests they believe in the pivot.

The stock had run up to 8.30 by mid-February, up 176% over the year. Could've been profit-taking on that spike, especially since they still hold 6.9% of their fund in this position. Interesting that despite the revenue slump, they're not completely exiting. Feels like a wait-and-see on whether their gallium nitride semiconductor strategy actually pays off in the data center boom.