Just caught that Capricorn Investment dumped over 1.1 million shares of Navitas Semiconductor back in February. They sold roughly $11.4 million worth, which is about 13% of their position. Interesting timing considering the stock was up like 177% over the past year at that point.

What's notable is they still hold almost 8 million shares worth $57 million - so it's not like they're bailing completely. Navitas is still their fifth-largest holding at 6.9% of AUM. The fund has been holding this since late 2021, so they're clearly betting long-term despite the recent revenue headwinds (down 45% year-over-year as they pivot to data centers).

Could've been profit-taking on that spike, or maybe just rebalancing. Either way, when a major fund dumps a meaningful chunk of a semiconductor stock, it's worth paying attention to. The GaN power IC space is interesting, but execution matters - especially with all the AI data center hype already priced in.