Portfolio Review | May 2026 (+26%, +167% YTD)
may
Apologies for the low posting frequency this week. I have been inundated lately. I know people have been asking for portfolio reviews, so I am getting this one out first.
In terms of the YTD the reason why my monthly and weekly portfolio reviews have sort of different numbers is only because of the measurement technique since I’ve been adding capital throughout the year.
(imagine you are adding capital every day to an index fund, and the index is going up, your returns on your brokerage, AKA a MoM or MOIC, would be lower than the returns of the index, AKA capital agnostic CAGR.)
Measuring it the other way would be 195%.
I honestly don’t know which is the better measure, as both are gameable, so whatever. I am up anywhere from 150-200% in less than 1/2 a year without leverage which is not bad in terms of stock picking abilities.
There is a lot of change this time. Specifically, there are 4 new positions a bunch of exits and I’ve made one company ~25% of my portfolio. Also featuring CPO discussion, a cool podcast, sell-side research, macroeconomic theory (not microeconomics this time), and the interesting stuff that happens when you try to DCF a co-location provider.
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