Just caught wind that Capricorn Investment Group trimmed their Navitas Semiconductor stake pretty significantly in mid-February. They dumped about 1.19 million shares, roughly $11.4 million worth based on quarterly pricing. Interesting move considering they've been holding this one since late 2021.

What's notable is they still kept a massive position - 7.99 million shares valued around $57 million as of year-end 2025. So this wasn't a full exit, more like taking some chips off the table. The fund's total quarter-end position value dropped $9.22 million when you factor in both the share reduction and price movement. Navitas is still their fifth-largest holding at about 6.9% of their portfolio, so they're clearly not abandoning ship.

The timing is interesting because NVTS stock was up 176.7% over the past year at that point, way outperforming the S&P 500. Could've been profit-taking on that spike, or just rebalancing. Either way, the Capricorn meaning here seems to be patience with the long-term thesis - the company's revenue dropped 45% year-over-year as they pivot toward data centers, but the fund's still holding the majority of their position. They're probably betting on that AI data center growth to eventually pay off. Worth watching how this semiconductor play develops.