LITE Hedge Fund Stake Reduced, Revenue Misses Consensus by $12M

In the first quarter of 2026, Leopold Aschenbrenner's hedge fund sold its stake in Lumentum Holdings Inc. (LITE), previously holding 1.3 million shares in Q4 2025. Lumentum reported net revenue of $808.4 million for Q3 FY2026, a 90% year-over-year increase, but fell short of the consensus expectation of $820.4 million by approximately $12 million. While shares have increased around 170% over six months, concerns arise as the company faces a potential growth ceiling. Additionally, Lumentum's trailing five-year earnings have decreased by 33.1% annually, indicating inherent volatility in business performance.