Top 7 positions in my portfolio holdings by weighting:
- 0-3 Month Treasury Bond ETF / Cash
- Amazon
- Microsoft
- Uber
- FICO
- ASML
In July, I raised my cash allocation to around 40%. However, as of writing this review, my short-term bond holdings have declined to about 35%—not due to selling, but because my equity positions have continued to grow organically, naturally increasing their weight in the portfolio.
Since 2022 to date, my portfolio has achieved a CAGR of 18.54%, compared with the S&P 500's 12.5% CAGR (assuming 100% allocation to SPY ETF). What makes this more meaningful is that my portfolio has consistently carried a sizable defensive allocation—yet it still managed to outperform the index ETF.
In the second half of the year, the portfolio trended gradually upward. While there were no sharp rallies, it still reached a new all-time high (ATH). Even after factoring in a 10% currency depreciation (USDTWD), portfolio remains above last year’s peak. Compared with many peers I guess, my approach has been relatively conservative, with fewer trades and more emphasis on long-term holding.
Key moves this quarter:
Significantly reduced Tesla after the Robotaxi launch, realizing >100% gains. Still holding some, but it's no longer my largest position.
Exited ServiceNow (NOW), Realty Income (O), TransMedics (TMDX), Arista (ANET), and SoFi (SOFI).
Trimmed lot of ARM, META and a little Microsoft (MSFT).
Short-term trades in UNH (profitable) and Oscar Health (OSCR) (cut at a loss, though it would be positive now).
Bought tiny shares of Uber and Google. Reinvested proceeds into FICO and Duolingo (DUOL), effectively lowering average cost basis so far.
Looking ahead, I don't have strong new positions in mind. For now, I'll let the portfolio grow organically, while keeping an eye on whether macroeconomic signals play out as forecasted.
Last quarter recorded https://www.facebook.com/share/p/1CbpU9hg6Z/
