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David Friedberg
Founder of The Climate Corporation. 'The Sultan of Science.'
+7.2%
vs S&P +9.0% · 12 public positions
The Friedberg portfolio
iHow this portfolio is scored
We put $1,000 into each name the day Friedberg turned bullish or bearish on it as a real call — a clear take, a ranked pick, a short — and hold until they back off, then compare to putting the same money in the S&P over the exact same stretch. Just talking about a stock never counts. Click any marker for the call behind it.
12 calls we could put a price on — $1,000 in each, measured against the S&P over the same stretch.
| Call | Entry | Return | Alpha |
|---|---|---|---|
| GoogleGOOGL | Jun 23, 2025 | +116.2% | +90.4pp |
| Enterprise application software (basket)IGV | Jan 6, 2025 | +9.1% | +35.9pp |
| US TreasuriesIEF | Oct 25, 2024 | +1.3% | +31.7pp |
| GoldGLD | Oct 25, 2024 | +48.8% | +18.4pp |
| UraniumURA | Oct 18, 2024 | +28.4% | -0.7pp |
| CopperCPER | Jan 12, 2026 | +3.0% | -5.6pp |
| Commodities basketDBC | Oct 25, 2024 | +20.6% | -9.7pp |
| Cheniere EnergyLNG | Mar 27, 2026 | -12.9% | -31.9pp |
| Chinese tech stocks (basket)KWEB | Jan 6, 2025 | -7.4% | -34.2pp |
| BitcoinIBIT | Oct 25, 2024 | -4.7% | -35.1pp |
| Defense primes — Boeing, Lockheed, Raytheon (basket)ITA | Jan 6, 2025 | -64.9% | -38.1pp |
| OilUSO | Jan 12, 2026 | -51.7% | -43.1pp |
Signature takes
Anthropic →Commentary
“Over the last couple of weeks, they've begun to restrict the ability to use the models to do that work... we are likely going to end up needing to use open-source models and run them locally ourselves.”
E276· Jun 13, 2026
Eli Lilly →Commentary
“I'm sure if I'm Lilly and I'm sitting there and I'm looking at this data coming out, I'm like, my God, people 'pay for this.' And that starts to become sort of like the upgrade to the BMW, or the Model S Plaid, if you will.”
E271· May 1, 2026
Medallia →Commentary
“Agents have become so good and so fast and so cheap that many enterprises can simply spin up an alternative to a vertical SaaS solution. And that's crushing the sales team's ability to sell in.”
E270· Apr 24, 2026
Every company Friedberg has discussed
55 companiesBullish or bearish marks a name Friedberg actually positioned on — the holdings in the portfolio above. Everything else is commentary. Tap a row to read the take.
| Company | View | Last said | Takes | Since |
|---|---|---|---|---|
| Anthropic | Commentary | Jun 13, 2026 | 3 | — |
| OpenAI | Commentary | May 15, 2026 | 7 | — |
| AppleAAPL | Commentary | May 15, 2026 | 4 | — |
| GoogleGOOGL | Bullish | May 15, 2026 | 16 | +111.8% |
| Eli LillyLLY | Commentary | May 1, 2026 | 1 | — |
| BayerBAYRY | Commentary | May 1, 2026 | 1 | — |
| SalesforceCRM | Commentary | Apr 24, 2026 | 2 | — |
| Medallia | Commentary | Apr 24, 2026 | 1 | — |
| SpaceXSPCX | Commentary | Apr 3, 2026 | 4 | — |
| TeslaTSLA | Commentary | Apr 3, 2026 | 5 | — |
| Cheniere EnergyLNG | Bullish | Mar 27, 2026 | 1 | -12.9% |
| OilUSO | Commentary | Mar 6, 2026 | 2 | — |
| GoldGLD | Commentary | Jan 30, 2026 | 3 | — |
| Cerebras Systems | Commentary | Jan 17, 2026 | 1 | — |
| MicrosoftMSFT | Commentary | Jan 17, 2026 | 3 | — |
| US Electric Utilities (sector) | Commentary | Jan 17, 2026 | 1 | — |
| CopperCPER | Bullish | Jan 10, 2026 | 1 | +3.0% |
| SaaS / Software Industrial ComplexIGV | Bearish | Jan 10, 2026 | 2 | +0.2% |
| NVIDIANVDA | Commentary | Dec 19, 2025 | 6 | — |
| Huawei | Commentary | Dec 19, 2025 | 1 | — |
| Tether | Commentary | Nov 22, 2025 | 1 | — |
| Amazon Web Services / AmazonAMZN | Commentary | Oct 24, 2025 | 1 | — |
| MP MaterialsMP | Commentary | Oct 17, 2025 | 1 | — |
| Electronic ArtsEA | Commentary | Oct 3, 2025 | 1 | — |
| Figma | Commentary | Jul 4, 2025 | 1 | — |
| UberUBER | Commentary | Jun 28, 2025 | 1 | — |
| Broad equity market / Mag 7 vs S&P 493 | Commentary | Jun 28, 2025 | 1 | — |
| S&P 493 (non-Mag-7 S&P 500) | Commentary | Jun 21, 2025 | 1 | — |
| US Treasuries / Bond Market | Commentary | May 24, 2025 | 1 | — |
| Natural GasUNG | Commentary | May 17, 2025 | 1 | — |
| Pharmacy Benefit Managers (PBM sector) | Commentary | May 17, 2025 | 1 | — |
| NewsmaxNMAX | Commentary | Apr 5, 2025 | 1 | — |
| BoeingBA | Commentary | Mar 22, 2025 | 1 | — |
| CoreWeave | Commentary | Mar 8, 2025 | 1 | — |
| US Treasury Bonds (10-year) | Commentary | Mar 1, 2025 | 1 | — |
| S&P 500 Index (broad equities) | Commentary | Mar 1, 2025 | 1 | — |
| Polymarket | Commentary | Feb 15, 2025 | 1 | — |
| IntelINTC | Commentary | Jan 25, 2025 | 1 | — |
| UraniumURA | Commentary | Jan 25, 2025 | 2 | — |
| Chinese tech stocks (basket)KWEB | Bullish | Jan 18, 2025 | 2 | -7.4% |
| Waymo | Commentary | Jan 4, 2025 | 1 | — |
| Defense primes — Boeing, Lockheed, Raytheon (basket)ITA | Bearish | Jan 4, 2025 | 1 | +64.9% |
| Unitree | Commentary | Jan 4, 2025 | 1 | — |
| Crypto / fintech sector (deregulation beneficiaries) | Commentary | Nov 16, 2024 | 1 | — |
| US TreasuriesIEF | Bearish | Oct 25, 2024 | 1 | -1.3% |
| BitcoinIBIT | Bullish | Oct 25, 2024 | 1 | -6.0% |
| StarbucksSBUX | Commentary | Oct 25, 2024 | 2 | — |
| Commodities basketDBC | Bullish | Oct 25, 2024 | 1 | +20.6% |
| ExpediaEXPE | Commentary | Oct 18, 2024 | 1 | — |
| ChipotleCMG | Commentary | Aug 16, 2024 | 1 | — |
| Wiz | Commentary | Jul 26, 2024 | 1 | — |
| AI infrastructure / hyperscaler capex basket | Commentary | Jul 12, 2024 | 1 | — |
| GameStopGME | Commentary | Jun 7, 2024 | 1 | — |
| Dell TechnologiesDELL | Commentary | May 31, 2024 | 1 | — |
| Ohalo Genetics | Commentary | May 17, 2024 | 1 | — |
