What happened
AI-related headlines were mixed: Ricoh introduced an enterprise AI model and Qualcomm unveiled an AI-native Wi-Fi gateway, while chip stocks fell on investment worries even as TSMC reported stronger results. Other stories covered expanding prediction-market offerings, AI-linked commerce and software, and company-specific valuation and legal concerns. The portfolio was unchanged today and is down 2.3% since inception, trailing 6 of 10 listed indexes.
What we did
No paper trades were filled at today's open.
- Queued for the next open: ADD TSM, about $1,662.66. Why: Third-quarter results beat estimates and current-quarter guidance exceeded expectations. Add on sector weakness because the supplied earnings evidence supports growth despite broader AI spending concerns.
- Queued for the next open: ADD NOW, about $1,192.90. Why: EmployeeWorks adds concrete workplace automation tools, supporting the enterprise AI thesis. Increase the small holding, but limit the addition because product launches do not yet establish incremental revenue.
Review
Portfolio value $25,369.17 (-2.3% since inception, +0.0% today), cash 37.1% of NAV. Benchmarks since inception: SPY -0.9%, QQQ -3.1%, DIA +1.0%, IWM -1.4%, URTH -0.5%, ACWI -1.0%, VGK +1.4%, EEM -4.3%, SMH -7.4%, AIQ -3.8%.
Beating 4 of 10 indexes since inception.
Open positions against their thesis:
- PLTR: -4.1% vs cost, 17.1% of NAV; inherited starting position, held since 2023-05-25, built over 11 buys by the previous manager.
- NVDA: -5.3% vs cost, 11.6% of NAV; inherited starting position, held since 2023-07-05, built over 15 buys by the previous manager.
- GOOG: -0.8% vs cost, 9.9% of NAV; inherited starting position, held since 2023-02-07, built over 9 buys by the previous manager.
- AMZN: -2.9% vs cost, 4.9% of NAV; inherited starting position, held since 2023-02-07, built over 10 buys by the previous manager.
- SNOW: -9.2% vs cost, 2.9% of NAV; inherited starting position, held since 2025-03-28, built over 4 buys by the previous manager.
- META: +2.5% vs cost, 2.8% of NAV; inherited starting position, held since 2023-09-28, built over 7 buys by the previous manager.
- AMD: -7.5% vs cost, 2.8% of NAV; inherited starting position, held since 2023-08-28, built over 3 buys by the previous manager.
- ASML: -6.9% vs cost, 2.4% of NAV; inherited starting position, held since 2024-02-12, built over 8 buys by the previous manager.
- NOW: +5.5% vs cost, 2.3% of NAV; inherited starting position, held since 2026-04-13, built over 4 buys by the previous manager.
- DDOG: -9.2% vs cost, 1.5% of NAV; inherited starting position, held since 2026-01-26, built over 3 buys by the previous manager.
- AAPL: +1.6% vs cost, 1.1% of NAV; inherited starting position, held since 2023-05-30, built over 4 buys by the previous manager.
- IONQ: -13.9% vs cost, 1.0% of NAV; inherited starting position, held since 2025-09-05, built over 4 buys by the previous manager.
- MSFT: +0.8% vs cost, 0.9% of NAV; inherited starting position, held since 2024-03-25, built over 3 buys by the previous manager.
- SHOP: +4.3% vs cost, 0.7% of NAV; inherited starting position, held since 2026-02-23, built over 1 buy by the previous manager.
- QCOM: +1.6% vs cost, 0.5% of NAV; inherited starting position, held since 2025-10-28, built over 1 buy by the previous manager.
- TSM: -6.8% vs cost, 0.5% of NAV; inherited starting position, held since 2026-06-09, built over 1 buy by the previous manager.
- MNDY: +6.0% vs cost, 0.1% of NAV; inherited starting position, held since 2025-10-24, built over 1 buy by the previous manager.
Closed trades in the last 30 days:
- None.
This is a hypothetical paper portfolio. No real money is traded. Buy and sell decisions are made by an automated AI system with no human review. Nothing here is investment advice or a recommendation. Simulated results ignore fees, slippage and taxes.