Portfolio Update

MTD: +30.32%, YTD: +15.84%

It has been a while since I’ve done one of these.

My last portfolio update was back in February, and the portfolio looks very different today. Some positions have gotten much larger, several names are gone, and a few new ones have worked their way in.

Performance has also been a bit of a roller coaster.

For most of the year, returns were honestly pretty subpar. I wasn’t happy with how the portfolio was performing, and up until this past month there wasn’t much worth bragging about.

A few timely call positions in Alibaba and KWEB changed that pretty quickly. Those trades have worked extremely well and gave the portfolio a meaningful boost over the last several weeks.

As of July 31, the portfolio is up 15.84% YTD versus 10.13% for SPY. Since inception, the portfolio is up 17.92% compared to 8.79% for SPY.

That looks good today, but I’m not going to pretend it has been smooth. A large portion of the outperformance came recently, and it came from taking more risk than I normally would through those options positions.

Below is the full portfolio, along with a quick look at what changed, what drove the recent rebound, and where I currently see the biggest opportunities.