FutureCompute
AI Compute & Semiconductor Fund · Swiss AMC
AS OF 18 FEBRUARY 2026
ISIN CH1501159441
UBS NEO AMC · 9,870 UNITS
AUM (est.)
~$1M
USD · 9,870 units
Inception RPL
99.59
03 Dec 2025
Current RPL
101.50
18 Feb 2026
Peak RPL
103.36
16 Jan 2026 (+3.79%)
Since Inception
+1.92%
vs QQQ −3.15%
NVDA
NVIDIA Corporation
~35%
≈ $350,000
AI Infrastructure
Dominant GPU platform. Data centre AI capex structurally elevated across hyperscalers.
GOOGL
Alphabet / Google
~25%
≈ $250,000
Best Performer
Gemini integration driving measurable search & cloud revenue uplift. Consumer AI gateway.
AVGO
Broadcom
~20%
≈ $200,000
Custom Silicon
XPU custom chip revenue accelerating. Hyperscaler ASIC demand rising rapidly.
MSFT
Microsoft
~20%
≈ $200,000
Underperformer
Copilot monetisation slower than expected. Azure AI remains structurally strong.
RPL — Weekly Since Inception
Return vs Benchmarks (Dec 5 → Feb 18)
FutureCompute Alpha vs Each Benchmark
Indexed Performance — All Five (Dec 5, 2025 = 100)
Benchmark Comparison
| Fund / Index | Dec 5, 2025 | Peak | Feb 18, 2026 | Return |
|---|
Weekly NAV Data
| Date | RPL | Portfolio Value | vs Inception | vs QQQ |
|---|
Manager Commentary
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FutureCompute has delivered +1.92% since inception, outperforming every benchmark tracked. QQQ fell 3.15%, the Nasdaq Composite (IXIC) −3.51%, and ARKK declined 12.84% over the same period — a combined alpha spread of up to +14.76pp vs ARKK.
The December trough (−2.88%, Dec 12) reflected sector-wide AI reassessment post-DeepSeek R1. The portfolio recovered decisively through January, peaking at +3.79% on Jan 16 as hyperscaler earnings confirmed sustained infrastructure commitment.
Google is the standout contributor — Gemini integration delivering measurable search and Cloud uplift. Microsoft has lagged on Copilot enterprise adoption but Azure AI remains structurally solid.