By @TheBottlenecks / TheBottleneckPortfolios.com April 14, 2026
Every position in The Bottleneck Portfolios was selected by KnowIt AI. This is our first update.
The operator of KnowIt AI personally holds positions in many of the securities discussed below and developed the KnowIt AI app. Full disclosures at the bottom of this post.
This is our first update. If you’re reading this, you either found us on Autopilot, saw a post on X, or someone sent you this link. Either way, welcome.
The Bottleneck Portfolios is powered by KnowIt AI.
Every position, every allocation, every trade is selected by the AI.
We manage three portfolios on Autopilot that all share one core thesis: the AI boom has a physical bottleneck, and that bottleneck is memory.
This post explains what KnowIt AI owns, why it owns it, and how it’s thinking about the market right now.
The Thesis in One Sentence
Every AI model, every data center, every GPU needs memory chips before it can do anything. There aren’t enough of them.
That’s the trade.
Why Memory
The AI story has mostly been told through Nvidia. And Nvidia deserves the attention. But the part of the supply chain that KnowIt AI flagged as most constrained right now is not compute. It’s memory.
Micron’s last quarter told the whole story. Revenue nearly tripled year over year. Earnings beat guidance by 45%. The May quarter guidance doubled what analysts were expecting. And yet the stock sold off 23% from its highs because Google announced a compression algorithm called TurboQuant and the market panicked about future memory demand.
That selloff was the entry point KnowIt AI was waiting for.
The fundamentals did not change. Micron is trading at a forward P/E that makes it one of the cheapest names in the S&P 500. SanDisk reported similar numbers: revenue up 61% year over year, gross margins jumping from 29% to 51%, and management projecting 75 to 100 exabytes of AI storage demand by 2027. They’re locking in multi-year supply agreements with prepayments from hyperscalers.
These companies are generating significant AI revenue today. That does not guarantee they will continue to do so. But KnowIt AI’s read is that the market mispriced the selloff, and the memory shortage has years left to run.
The Three Portfolios
We run three portfolios on Autopilot under The Bottleneck Portfolios.
Each one approaches the AI trade from a different angle, but memory runs through all of them. All three are concentrated and sector-specific. They carry more risk than a diversified strategy, they can draw down sharply, and investors should only allocate capital they can afford to lose.
KnowIt AI Flagship
Ten positions. Memory is the core.
Here are the stock tickers:
SNDK
MU
STX
COHR
TSEM
LITE
AAOI
GEV
SEI
DRAM
(See complete position sizes and breakdown here)
KnowIt AI identified the memory shortage as the biggest constraint in the AI supply chain and positioned accordingly. This portfolio is the most concentrated of the three. When the thesis is right, the returns are meaningful. When it’s wrong, the losses are equally concentrated.
AI Cash Flow Leaders
This is the broadest portfolio. Twenty positions across the entire AI supply chain. Memory is still the largest weight, but the portfolio spans compute (Nvidia, Broadcom, AMD), fab equipment (Lam Research, Applied Materials, ASML, KLA), photonics (Coherent, Lumentum), power infrastructure (GE Vernova, Vertiv, Solaris Energy), and cloud (Google, Amazon).
Every company in this portfolio is booking AI revenue today. Not promising it someday. Booking it now.
Here are the stock tickers:
AMD
MU
SNDK
DRAM
GOOGL
SEI
NVDA
VRT
AVGO
AMZN
TSM
AMAT
LRCX
COHR
ASML
KLAC
GEV
LITE
[See complete position sizes and breakdown here]
If you want exposure to AI but don’t want to bet everything on memory, this is the one. Still conviction-weighted toward memory, but diversified enough to cover the whole value chain.
South Korea is Next
This is the thematic play. South Korea is the world’s number two semiconductor superpower and its fastest growing weapons exporter. Right now the world is spending record amounts on both.
Memory dominates even here. Over 70% of the portfolio is in memory names, because Korean fabs produce a massive share of global supply. The rest captures the broader Korean market, telecom, semiconductor packaging, and defense.
Here are the stock tickers:
MU
SNDK
EWY
DRAM
SKM
AMKR
KDEF
(see complete position sizes and breakdown here)
Two catalysts: NATO nations are rearming and increasingly buying Korean over American. The memory shortage is funneling demand into Korean fabs. KnowIt AI sees years of runway in both, though geopolitical conditions can shift fast.
Why Now
KnowIt AI built these portfolios during the Iran war and waited. For five weeks, AI and semiconductor names sold off while their earnings kept beating. The ceasefire announced April 8 was the risk-off event the AI was watching for. The Strait of Hormuz reopening, oil dropping, the fear trade unwinding.
The war created a window where strong companies were trading at steep discounts to their earnings power. KnowIt AI used that window to get in.
The ceasefire is still fragile. The memory thesis could prove wrong if demand slows, new supply arrives faster than expected, or compression tech reduces requirements more than projected. But KnowIt AI’s base case is that the shortage persists, and the portfolios are positioned for it.
Follow Along
KnowIt AI is actively managing all three portfolios. This is not set-it-and-forget-it. We’ll be posting regular updates breaking down earnings, position changes, and what the AI is seeing in the data.
Invest alongside KnowIt AI on Autopilot.
The Bottleneck Portfolios by KnowIt AI @TheBottlenecks
Disclosures
Investing involves significant risk, including the possible loss of principal. Past performance does not guarantee future results. The portfolios discussed are concentrated in specific sectors (semiconductors, memory, defense) and carry higher risk than diversified strategies. The value of investments can go down as well as up, and investors may receive back less than they invest.
The operator of KnowIt AI personally holds positions in securities discussed in this post and developed the KnowIt AI app. These are material conflicts of interest that should be carefully considered.
The Bottleneck Portfolios are available on Autopilot, which is operated by Autopilot Advisers, LLC, an SEC-registered investment adviser. Registration does not imply a certain level of skill or training. For more information, please review Autopilot’s disclosures and Form ADV.
All views expressed are current as of the date of publication and are subject to change without notice. Securities identified do not represent all securities purchased, sold, or recommended. It should not be assumed that investments in the securities identified were or will be profitable. Holdings and allocations are subject to change at any time.
This content is for informational purposes only and does not constitute investment advice, a recommendation, or a solicitation to buy or sell any security. Consult your own financial adviser before making investment decisions.
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