(Senior) Equity Research Analyst - Semiconductors (m/f/d)

About this role

Across our funds, we hold meaningful exposure to the hardware backbone of the AI buildout: the chips powering data centers and edge devices. As our (Senior) Equity Research Analyst - Semiconductors (m/f/d), you own that coverage and contribute original theses to a concentrated, high-conviction portfolio, extending our reach in pure-play names before consensus catches up. The scope centers on semiconductors but grows with your insights into adjacent areas: AI compute infrastructure, networking and optical connectivity.

You report to Ingo Lupatelli, our Portfolio Manager and Director of Research, and work autonomously from Day 1. Your priorities will include: Coverage & research. Run bottom-up fundamental research on semiconductor companies worldwide: chipmakers, equipment, materials, memory, and the hardware stack around them. Asymmetric returns. Surface ideas before consensus, then research, pitch, and defend concentrated, high-conviction positions, carried through to a decision and measured by the alpha they generate.

Quantamental innovation. Combine fundamental judgment with our proprietary alternative data and, alongside our quant team, advanced ML and AI to build actionable models. Financial modeling. Decompose business models from first principles (Volume x Price x Mix x Margin) and build valuations tailored to each sub-sector's economics. Networks & conviction. Cultivate relationships with sector experts and management teams, and convert conviction into sized positions.

You understand the semiconductor industry at both a technical and a business level; adjacent coverage of batteries or consumer devices is a plus. You have 2+ years researching investments in a relevant sector, ideally semiconductors, on the buy-side or in a research-heavy environment (equity research, private equity, or investment banking). You have a track record of differentiated investment writing: a contrarian view you sized and defended under pushback, ideally a thesis you can point to.

You are comfortable with alternative datasets and basic data tools (Python or SQL); fluency with semiconductor cycles or Asian and Chinese names is a bonus. You hold a strong academic record in a technical field such as Engineering, Computer Science, Physics, or Mathematics. You prefer to conduct public equity research at a steady, deliberate pace. We move fast, with daily idea flow, thesis check-ins, and deep dives when the data moves, so you form and revise views quickly.