(Senior) Research Analyst / Portfolio Manager - Semiconductors / Hardware / Health Technology (m/f/d)

As a Senior Research Analyst / Portfolio Manager (m/f/d), you bring together a deep passion for investing and technology. You develop original investment theses that feed directly into buy and sell decisions in our concentrated, high-conviction portfolio. Over time, you further take on responsibilities regarding portfolio construction, position sizing, and risk management. In this role, you report to Ingo Lupatelli (Portfolio Manager and Director of Research) and work autonomously from Day 1.

We are open to seasoned researchers across domains. Right now, deep coverage in semiconductors, health technology, and hardware is where we are most bullish and where a new hire would be most complementary to our fundamental research team. What matters most though, is a proven ability to build differentiated theses and size them with conviction. You own your coverage and extend it into adjacent areas as your insights compound.

Your priorities will include:

• Coverage & research. Run bottom-up fundamental research on publicly traded technology companies worldwide in your domain and the business and supply-chain layers around it.
• 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.
• Portfolio construction. Progressively co-lead position sizing, sector allocation, and risk management, and actively manage options and hedges for the book.
• Networks & conviction. Cultivate relationships with sector experts and management teams, and convert conviction into sized positions.

• You have 3+ years researching technology investments on the buy-side or in a research-heavy environment (equity research, hedge fund, private equity, or investment banking).
• You bring deep expertise in at least one major technology domain (semiconductors, health technology, hardware, AI, or robotics), at both a technical and a business level.
• 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 understand options and derivatives (pricing, Greeks, common hedging strategies) and how they enhance returns or manage risk.
• You are comfortable with alternative datasets and basic data tools (Python or SQL).
• You hold an excellent academic record in a technical field such as Engineering, Physics, Computer Science, 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.
• You like to wait for full consensus before acting. We size positions on conviction and real insight, not crowd validation.

• You are passionate about technology, public-market investing, and the businesses behind the products.
• You operate by first principles: you decompose a thesis into its drivers, rebuild it from observable inputs, and treat being proven wrong by data as learning, not defeat.
• You are an "AI Native" who makes AI and quantitative tools standard infrastructure in your research.
• You are intellectually rigorous: you stress-test assumptions and seek disconfirming evidence to form an independent view.
• You are self-driven and entrepreneurial, in it for the long term, where logical argument outweighs hierarchy.

• Become part of a unique success story in European asset management, with real influence over a concentrated, high-conviction portfolio.
• Work with terabytes of data, advanced research tools, and proprietary alternative data you will not find at traditional asset managers.
• A motivated, international team of 15 nationalities with flat hierarchies and direct access to our management team and investors.
• Day 1 ownership of challenging, varied work, a steep learning curve, and a transparent, appreciative feedback culture.
• Competitive compensation with a meaningful variable component tied to fund performance, plus relocation and visa support if needed.