The probability of Kevin Warsh becoming the new Fed Chair has reached 93% on Polymarket, basically a done deal.

Let me analyze the US stocks related to him.

The latest holdings we can find are from Q3 2025 disclosures:

Top 10 Holdings

1. $Natera(NTRA.US) : ~$517M, 12.74% weighting; added 129.3K shares in Q3, core healthcare position betting on genetic testing penetration growth.

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2. $Insmed(INSM.US) : ~$349M, 8.59%; added 170K shares in Q3, rare disease drug R&D with smooth pipeline progress.

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3. $Teva Pharmaceutical Industries(TEVA.US) : ~$335M, 8.25%; added 625K shares in Q3, generic drug giant with cost optimization and cash flow improvements.

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4. $Taiwan Semiconductor(TSM.US): ~$214M, 5.27%; unchanged position, key beneficiary of AI chip capacity shortage, macro bet.

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5. $Coupang(CPNG.US) : ~$204M, 5.02%; unchanged, South Korean e-commerce leader, notable for Warsh's board membership.

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6. $Flutter ENT(FLUT.US) : ~$180M market cap, 4.43%; added in Q3, global sports betting giant betting on US market expansion.

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7. $Docusign(DOCU.US) : ~$87.48M, 2.9%; new in Q2, unchanged in Q3, e-signature leader benefiting from digital transformation.

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8. $Woodward(WWD.US) : ~$70M, 2.1%; reduced 215.9K shares in Q3, aerospace supplier facing short-term cyclical volatility.

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9. $Amazon(AMZN.US) (Amazon): ~$95.97M market cap, 2.36%; new in Q3, betting on e-commerce and cloud recovery amid macro consumption rebound.

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10. $iShares MSCI Em(EEM.US) (iShares MSCI Emerging Markets ETF): ~$101M market cap, 2.49%; one of Q3's largest new positions targeting EM equity appreciation.

Core thesis at the time: Anchored to Fed rate-cut cycle + global tech spending recovery, dual focus on healthcare (innovative drugs/testing) + tech (AI chips/e-commerce), highly concentrated with single-stock exposure exceeding 12% - pure all-in style.