To read our full disclaimer, click here.
Performance
Despite the market's turbulence this year, the portfolio has performed very well, achieving a 10.9% gain in 2025 so far compared to the markets 1.3%.
While we provide these bi-weekly updates to maintain transparency and keep you informed of our investment activities, they should not be viewed as an invitation to focus on short-term results. Our experience has shown that the most successful investors are those who maintain a long-term perspective and resist making decisions based on temporary market movements.
These updates serve as a communication tool, not a scorecard. We share them to help you understand our thinking and decision-making process, but the true measure of our success will be determined over years, not weeks or months.
Trades and Statement of Assets
Over the past two weeks, we have made some significant changes to the portfolio.
Become a paid subscriber here to see our full portfolio, complete with our reasoning behind each position.