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Quarterly Portfolio Update:
Since January, there have been some major moves in my portfolio. I've exited $PYPL and $HIMS, and initiated positions in $FIGR and $NBIS. Here's the breakdown:
1⃣ $AEHR (20%) - This tiny company has saved my portfolio. What was once a 10% allocation (which is crazy given the market cap size) has now effectively doubled, up 83% YTD. Earnings are next week, and with the recent agreements, it's clear revenue acceleration will be palpable the 2nd half of this year.
2⃣ $HOOD (18%) - has fallen 38% YTD and has been a big reason why my portfolio is overall still down (~12%) overall. The reason? High beta stocks selling off and anything touching crypto doing likewise. I only own shares, and the price level didn't quite hit my target (of $60) to begin adding LEAPs.
3⃣ $VG (11%) - Venture Global, despite the recent weakness, is still up impressively this year. Short-term, the price action will be dictated by how the Hormuz situation plays out, but the resolution of the Iran conflict is a long-term benefit to LNG players, even if the spread between TTF and HH compresses. I took a little off the table, but most of my gains here are unrealized.
4⃣ $PLTR (10%) - I continue to do the world's slowest DCA into Palantir, which has continued to relentlessly execute. Maven becoming a system of record, multiple large commercial expansions, and ever-expanding use cases will see this beat expectations all year. However, if the bears are right and we see Palantir trade at a less premium valuation, I'll be adding aggressively under $100.
5⃣ $SOFI (9%) - SoFi (the company) is heading in the right direction, with revenue acceleration and multiple positive catalysts. However, SoFi the stock has fallen immensely this year, down nearly 40% YTD. I've trimmed some LEAPs for next January, but added shares, and I now have room to add under the 10% threshold .
6⃣ $NVDA (7.1%) - I increased my position by about 5% this quarter, but the overall percentage is up more due to Nvidia falling less than many fintech and tech names in my portfolio. I will continue to add under $200. While many companies will benefit from the AI arms race, Nvidia is in the epicenter. It's not $AMD chips that $SMCI's CEO is smuggling into China, after all.
7⃣ $NBIS (7%) - I had a position in Nebius last year that roughly doubled, and I exited. The thesis has only improved (Neocloud > bare metal) even while execution and demand have ramped. It's an easy add at these levels, especially with another capital raise unlikely until late this year.
8⃣ $NU (5%) - I sold some LEAPs which were up earlier in the year, creating the Figure position. The shares are an easy hold, and I'm excited to see what their plans are in the US, now that their national banking charter has preliminary approval.
9⃣ $FIGR (4%) - I trimmed some from the position above and below Figure to create this position. Figure is a fascinating company that really isn't impacted by cryptocurrency price action in a meaningful way. Yet the market does not realize this. I'll be happy to build out this position as it trades at these levels.
🔟 $BMNR (3%) - Price action is the primary story here, though I did trim some to create the Figure position. Crypto winter might not be "mini," but we'll likely start to see winter resolve by the end of the year. I'll likely start DCAing into this position again in the 2nd half of the year.
Other notes:
$TSLA is a placeholder position (under 1%) in my portfolio so I don't list it here. Crypto is 5% of my holdings, mostly spread between $BTC and $ETH. And I am a bit north of 1% cash.
Additionally, I have a chunk of investments in large index funds that I look at perhaps twice per year. These are not factored in the weightings above.
Crossroads@Dr_Crossroads
On the $HIMS exit, for some reason my portfolio update never posted on X in early January. But you can see from this and the last 2 that the position shrank in terms of sizing. By the time of the exit, it was under 1.5%. I took profits (some intentional, some underwater covered calls) when the stock was squeezing. Execution missteps and better opportunities had me allocating new funds elsewhere, and ultimately that's what led me to exit $HIMS and start a $NBIS position. This one hurt less than the $PYPL exit in every respect, and there's a chance I revisit $HIMS down the road and get back in when the dust settles.
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