Statistics
| Deposit | 270.0 [0.0] |
| Net | 565.6 [+4.0] |
| Gain | 295.6 [+4.0] |
| Cash | -273.0 [-3.9] |
| Long | 838.6 [+7.9] |
| TR% | 1M | 3M | 1Y | 3Y |
| SPY | +2.0 | +13.8 | +26.8 | +76.4 |
| QQQ | +5.6 | +25.1 | +40.7 | +104.8 |
| MXWO | +2.2 | +13.1 | +26.2 | +73.1 |
| IBKR | +1.4 | +15.2 | +50.2 | +134.0 |
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Largest Positions
| T | Rank | Prev | Ticker | Company | USD | 1WΔ | % |
| ↔ | 1 | 1 | BMNR | BITMINE IMMERSION TECHNOLOGI | 43.6 | 0.1 | 7.7 |
| ↔ | 2 | 2 | RCP.L | RIT CAPITAL PARTNERS PLC | 18.4 | -0.4 | 3.3 |
| ↔ | 3 | 3 | MU | MICRON TECHNOLOGY INC | 18.1 | 2.4 | 3.2 |
| ↔ | 4 | 4 | BST | BLACKROCK SCIENCE & TECH TR | 14.4 | 0.8 | 2.5 |
| ↔ | 5 | 5 | SMT.L | SCOTTISH MORTGAGE INV TR PLC | 13.5 | -0.8 | 2.4 |
| ↔ | 6 | 6 | 8058.T | MITSUBISHI CORP | 11.3 | -0.4 | 2.0 |
| ↔ | 7 | 7 | PSH.L | PERSHING SQUARE HOLDINGS LTD | 10.3 | 0.0 | 1.8 |
| ↔ | 8 | 8 | ASML.AS | ASML HOLDING NV | 9.5 | 0.1 | 1.7 |
| ↑ | 9 | 15 | PGHN.SW | PARTNERS GROUP HOLDING AG | 9.3 | 1.4 | 1.6 |
| ↔ | 10 | 10 | PLTR | PALANTIR TECHNOLOGIES INC-A | 9.0 | 0.0 | 1.6 |
| ↓ | 11 | 9 | IGV | ISHARES EXPANDED TECH-SOFTWA | 8.9 | -0.2 | 1.6 |
| ↔ | 12 | 12 | GOOGL | ALPHABET INC-CL A | 8.8 | 0.2 | 1.6 |
| ↓ | 13 | 11 | BHP.AX | BHP GROUP LTD | 8.6 | -0.3 | 1.5 |
| ↔ | 14 | 14 | TSLA | TESLA INC | 8.0 | -0.1 | 1.4 |
| ↓ | 15 | 13 | ARKK | ARK INNOVATION ETF | 8.0 | 0.4 | 1.4 |
| ↓ | 16 | 13 | IBKR | INTERACTIVE BROKERS GRO-CL A | 8.0 | 0.0 | 1.4 |
| ↑ | 17 | 18 | KULR | KULR TECHNOLOGY GROUP INC | 7.9 | 0.3 | 1.4 |
| ↓ | 18 | 16 | 5020.T | ENEOS HOLDINGS INC | 7.8 | 0.1 | 1.4 |
| ↓ | 19 | 17 | CDNS | CADENCE DESIGN SYS INC | 7.7 | 0.0 | 1.4 |
| ↔ | 20 | 20 | BX | BLACKSTONE INC | 7.4 | 0.1 | 1.3 |
Covered calls :
* Fully covered
^ Partially covered
Dropped out :
None.
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Actions
Entered :
| CHRD | CHORD ENERGY CORP | Oil & Gas E&P | Energy |
| LEU | CENTRUS ENERGY CORP-CLASS A | Uranium | Energy |
Increased :
| 3234.T | MORI HILLS REIT INVESTMENT C | REIT – Diversified | Real Estate |
| 3309.T | SEKISUI HOUSE REIT INC | REIT – Diversified | Real Estate |
| PGHN.SW | PARTNERS GROUP HOLDING AG | Asset Management | Financial Services |
Decreased :
| OSCR | OSCAR HEALTH INC – CLASS A | Healthcare Plans | Healthcare |
Exited :
None.
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Notes
- Semiconductors continued its surge this week, as SMH was up 8.3% this week even while suffering a mid-week dip.
- The conflict involving the Strait of Hormuz was officially resolved with President Trump signing the agreement in Paris. Brent ended the week priced at $78/barrel, lower by 5.3% this week.
- Kevin Warsh debuted as the Fed Chair this week, as rates held steady. Rate expectations were elevated as the tone of possible rate cuts later this year were shifted to rate hikes. Long-term yields were near unchanged for the week despite the news.
- The portfolio will continue to increase exposure to real estate, as the increase in central bank rates around the world has not led to the same effect in borrowing rates. Meanwhile, the reason for why rates have increased are evident, as housing inflation for residences in desired locations have commanded a signficant premium in terms of rent and purchase value.
- The portfolio will also hold its preference to software names over hardware names, as the capital expenditure boost has mostly played out through extensive rallies in semiconductors. Meanwhile, the AI scare has been unrelentless even for companies that are likely to be aided rather than hurt by the onset of AI. As an example, Palantir now trades at 40 times revenue, which is around the levels it reached back in 2022, even with YoY revenue growth set to hit 77% and GAAP EPS expected to increase 131% for 2026.
- Blockchain adoption and the integration of this new technology into the back end of banking, security, and validation networks along with the tokenization of real assets will only continue and any weakness in the price of Ethereum will only mean that the eventual rally will have larger alpha. There is a possibility that the large dislocation between the innate value and the current trading levels of Ethereum refuse to narrow in 2026 due to macro effects, but by 2027 it is likely that holders will be rewarded for their patience.
- Even with a possible correction with the new Fed Chair being more hawkish than expected and midterm elections later this year, Numana holds the opinion that the next 10-20% dip is to be bought, and that the rally expected in 2027-2028 will be spectacular in strength. The basis for this that the AI fervor along with strong EPS growth will lead indices to reach peak levels seen only during the onset of the Internet, and there that will be intense buying through extended corporate and personal credit.
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