MIDGARDADVISORSTMT HEDGE FUND
Concentrated, high-conviction investing across Technology, Media, and Telecom, with a structural focus on semiconductors and AI infrastructure. We seek durable edge through deep sector expertise.
InvestmentThesis
// CONCENTRATED · HIGH-CONVICTION · SECTOR-NATIVE
Semiconductors
The foundational layer of every technology cycle.
We focus on fabless chip designers, EDA software, and advanced packaging enablers benefiting from AI-driven demand. Current focus: AI accelerators, HBM memory, and leading-edge foundry adjacencies.
Media
Content ownership and distribution at scale.
We focus on media platforms, premium content libraries, and live entertainment assets where consolidation, pricing power, and recurring audience engagement can drive durable monetization over time.
Telecom
Critical infrastructure underpinning global connectivity.
We focus on tower operators, fiber networks, and spectrum assets with high barriers to entry, recurring cash flow profiles, and long-duration demand driven by rising data consumption and network densification.
TrackRecord
// 5 YEARS · CONSISTENT ALPHA · SECTOR-NATIVE EDGE
Since inception, net of fees
As of Q2 2026
Trailing 5-year period
* All performance figures are presented net of management and performance fees. Performance data is independently tracked through FactSet. Past performance is not indicative of future results.
CoverageUniverse
// TMT SECTOR SPECIALIZATION
Discuss our thesisSemiconductors
COMPUTE LAYERFabless designers, IDMs, and EDA toolchain providers at the foundation of modern compute. Coverage spans logic, memory, and advanced packaging across the semiconductor value chain.
AI Infrastructure
ENABLING LAYERGPU cloud operators, MLOps platforms, and inference infrastructure companies scaling the AI buildout. Focus on capital-efficient providers with durable utilization economics.
Enterprise Software
APPLICATION LAYERMission-critical platforms with high net revenue retention, deep workflow integration, and durable enterprise adoption across vertical and horizontal SaaS.
Media Platforms
DISTRIBUTION LAYERScaled streaming operators and content platform businesses with pricing power, recurring audience engagement, and defensible content ecosystems across global markets.
Telecom Infrastructure
CONNECTIVITY LAYERTower REITs, independent tower operators, and neutral-host infrastructure companies with long-duration lease structures and 5G densification tailwinds.
Digital Infrastructure
PHYSICAL LAYERData centers, fiber networks, and edge compute operators underpinning the digital economy. Coverage includes hyperscale, colocation, and last-mile broadband buildouts.
TheFounder
// SECTOR-NATIVE · OPERATOR-INFORMED · ALIGNED
Founder & Chief Investment Officer
Anthony Samaha
Founder of Midgard Advisors, a sector-specialized investment firm focused on semiconductors, AI infrastructure, and the broader TMT ecosystem. Focused on concentrated, high-conviction investing driven by deep sector research, industry structure analysis, and long-duration technology cycles.
Ready to explorean allocation?
Midgard Advisors partners with a select group of aligned investors, family offices, and qualified purchasers seeking concentrated exposure across semiconductors, AI infrastructure, and the broader TMT ecosystem.