The idea
I believe robots doing physical work will create enormous value over the next decade, but it's too early to pick the one winner, so this basket spans the whole stack: AI brains and chips, the sensors and motors every robot needs, factory automation already running today, warehouse and delivery robots, and surgical robots with real hospital revenue now. I hold some cash on the side and keep each position modest rather than betting big on any single name.
What it owns
- Companies building the processors and artificial intelligence that power humanoid robots and autonomous systems doing real work. · NVIDIA CorporationIt designs the processors and AI chips that power humanoid robots and autonomous systems doing physical work., Tesla, Inc.It is developing Optimus, a humanoid robot intended to work in its own factories, with the bet depending on moving from demos to real deployed use., Alphabet Inc.Its DeepMind division creates robotics AI deployed in real robots, and Waymo operates driverless vehicles already providing paid rides to customers., XPeng Inc.It is developing Iron, a humanoid robot, alongside self-driving technology, with the investment case tied to progress on the robot program.23%
- Companies making the motors, sensors, chips and motion components that sit inside robots and automated machines across all industries. · Teradyne, Inc.It owns Universal Robots and MiR, which make collaborative robotic arms and mobile robots deployed in factories, plus a chip testing business., Analog Devices, Inc.It designs the sensors, motor control chips and power electronics that operate inside nearly every industrial robot and automated machine., Regal Rexnord CorporationIt manufactures the motors, gears and mechanical parts that drive robots and automated equipment, including components for humanoid joint systems., Novanta Inc.It makes precision motion parts, lasers and sensors that are built into surgical robots, industrial robots and automation equipment., Ouster, Inc.It makes lidar sensors that help robots and industrial machines perceive and navigate their environments with high precision., Ambarella, Inc.It designs low-power artificial intelligence vision processors that let robots and autonomous vehicles run camera analysis on board without relying on external processing.20%
- Companies making robotic systems that perform surgery in hospitals, where procedure volumes and system adoption measure real adoption. · Intuitive Surgical, Inc.Its da Vinci surgical robot is proof that robots already perform paid procedures in hospitals, with growth tied to rising procedure volumes and system adoption., Stryker CorporationIts Mako robot assists in joint replacement surgeries and is expanding to additional procedures in hospitals worldwide., Medtronic plcIt is developing Hugo, a surgical robot intended to compete with existing systems, with the case depending on regulatory clearance and hospital adoption., PROCEPT BioRobotics CorporationIts Aquablation robot treats enlarged prostates and is actively deployed in hospitals, with growth tied to rising procedure volumes and payor coverage.19%
- Companies selling the controllers, software and vision systems that run automated manufacturing lines in factories today. · Rockwell Automation, Inc.It sells the controllers and software that automate factory production lines, with growth tied to sustained factory spending on automation., Cognex CorporationIt makes machine vision systems that give factory robots the ability to see, inspect and identify parts with high precision., Emerson Electric Co.It sells industrial automation systems and controls for factories and plants and is consolidating its business around automation.15%
- Companies building and operating robots that move packages through warehouses and deliver goods on streets, where utilization and cost savings drive growth. · Amazon.com, Inc.It operates over a million robots in its warehouses and keeps adding robotic systems to reduce the cost of fulfilling orders., Symbotic Inc.It designs and builds complete robotic warehouse systems, with execution on customer projects and customer diversification driving its value., Zebra Technologies CorporationIt supplies the scanners, mobile computers and vision systems that provide the data layer enabling modern warehouse automation and tracking., Serve Robotics Inc.It operates autonomous sidewalk delivery robots with Uber Eats as a key customer, with growth dependent on fleet expansion and successful deployments.15%
- Cash8%