Portfolio Update - July 2026
145% since inception, beating the S&P500 by 1.5x and the all-world ETF by 2x.
It’s been exactly 1 year since my first article on Substack! How time flies.
I want to take this opportunity to thank every one of you for supporting me on this journey. May there be many more years!
(Also very close to 5k subs) Woohoo!
To celebrate, I’m giving away a few paid subscriptions. All you have to do is like and restack this note.
If you like, restack this portfolio update as well; you will get priority in the giveaway queue.
Now the less fun part, what a brutal month for semis and AI buildout-related stocks July was. I’ve seen YTD screenshots go from 100%+ to breakeven, and some investors nearly got liquidated due to overleveraging and margin calls.
That is not how I do things around here.
I also really felt the big drawdown with my #1 stock being ASML and Nebius was #2 at the time. Nebius dropped over 50%, and ASML is also down almost 20% from the top. There’s no way around it, that hurt my portfolio’s performance.
But, I built my portfolio to weather storms like these too. My other holdings provided a cushion, so my portfolio never dropped more than 8.5% from its peak.
Overall it was still quite a swingy month, but if you invest in growth, months like these are a given. I was never worried and if anything, I was ready improve my portfolio with some new buys.
I ended the month down -4.49%. For a portfolio with over 35% exposure to semis and neoclouds, that is not bad at all. I’m very happy with the balance and diversification right now.
I July I underperformed the S&P500, as the S&P500 was only down 0.01%
This -4.49% drawdown means that since inception (01-01-2023), my portfolio is up 147% (compared to 100% for the S&P 500), implying an ≈28.55% CAGR in the past 3.5 years.
My returns since tracking the portfolio:
Performance 2023: 32.32%
Performance 2024: 28.95%
Performance 2025: 20.42%
Performance 2026 (YTD): 19.71%
That’s a 1.5x compared to the S&P500 and almost a 2x compared to the VWRL (all-world ETF).
In the remained of this portfolio overview I will give insight into:
All my holdings + cost basis
My overall performance (vs. benchmarks)
All my buys and sells this month
Quick thoughts on the market
Sentiment list + a short update for all my holdings and watch-list
If you want a glimpse what a normal portfolio update looks like, you can check out my portfolio update from June, which was free to read.
The majority of the portfolio updates will remained paywalled. Consider becoming a paid sub if you like what you see!
All the benefits you get as a paid sub can be found here:
Now let’s dive in.
