Portfolio Update (January 2026)

I've generated a 23% CAGR over 22 years by investing in world-class companies committed to shaping a better future. Here's everything I own today: [Jan 2026]

⭐ = high conviction ⬆️ = bought / added ⬇️ = trimmed / sold

$CASH - Cash - 20.3%
$RKLB - Rocket Lab - 14.9% ⬇️
$ISRG - Intuitive Surgical - 11.8%
$GOOGL - Alphabet - 11.1% ⭐
$TSLA - Tesla - 5.6% ⭐
$MELI - MercadoLibre - 5.1% ⭐⬆️
$AMZN - Amazon - 3.5% ⭐
$WISE - Wise - 2.4% ⭐
$ASTS - AST SpaceMobile - 2.2% ⬇️
$SE - Sea Ltd - 2.2% ⭐⬆️
$CRWD - Crowdstrike - 2.1%
$NVDA - NVIDIA - 2.1% ⭐
$IIND - India ETF - 1.7% ⭐
$NVO - Novo Nordisk - 1.4%
$UBER - Uber Technologies - 1.3% ⬆️
$AXON - Axon - 1.3%
$ADYEN - Adyen - 1.3%
$TMDX - TransMedics - 1.3%
$IREN - Iris Energy - 1.2%
$NU - Nubank - 1.1%
$PLTR - Palantir - 1.0%
$ZS - Zscaler - 1.0%
$BYDDY - BYD - 0.8%
$CYBR - CyberArk - 0.8%
$PANW - Palo Alto - 0.7%
$BEPC - Brookfield Renewable - 0.5% ⬆️
$LMT - Lockheed Martin - 0.5%
$GRG - Greggs - 0.5%
$CRM - Salesforce - 0.4%

This month was characterized by active rotation. I trimmed my winners in the space sector $RKLB $ASTS to manage risk and redeployed that capital into high-conviction growth stories $UBER, $MELI, $SE, plus a new position in nuclear energy infrastructure.

As foreshadowed in my last update, I executed trims on both Rocket Lab $RKLB and AST SpaceMobile $ASTS.

$RKLB: I sold a further block of stock, bringing the position down to a sub-10% allocation. It has since grown back to nearly 15%, and so I'll likely be trimming again in the coming days.

$ASTS: I trimmed my position twice in late December. This was a tactical move ahead of the "Block 2" launch. While I remain bullish on the long-term prospects, the technical risk of deploying a satellite with a 2,400 square foot phased-array antenna is non-trivial. I wanted to lock in some gains before the inevitable volatility of the launch window.

I used the cash raised to accumulate into strength:

MercadoLibre $MELI & Sea Ltd $SE: I added to both at what I consider reasonable valuations for the growth they are delivering.

Uber $UBER: I significantly increased my stake. My thesis here is evolving beyond just ride-hailing. I view Uber as the future universal aggregator for commoditized autonomous miles. While Tesla poses an existential threat with a closed "Direct-to-Consumer" robotaxi network, Uber is building a defensive moat through high-margin advertising and subscription revenues that will hopefully make it the default interface for everyone else.

This month I started a new position in Brookfield Renewable Partners $BEPC.

Regular readers know I have been looking for the right way to play the nuclear energy renaissance. I previously flirted with SMRs via NuScale, but I have come to the conclusion that in a world of AI power crunches, infrastructure is the moat.

My thesis for $BEPC is threefold:

Brookfield is one of the world's largest investors in renewable power and transition assets.
Through its partnership with Cameco, Brookfield owns a massive stake in Westinghouse. This month, news broke that the U.S. government has entered a historic $80 billion partnership with Westinghouse to deploy a fleet of new AP1000 reactors. This is a level of government backing that essentially de-risks the next decade of nuclear build-out.
Brookfield is already leveraging its hydro and nuclear assets to sign massive power purchase agreements with hyperscalers. The deal to restart the Three Mile Island unit for Microsoft was just the opening act; I expect Brookfield to be a primary beneficiary of the "Gigawatt scale" data center trend.

I believe $BEPC offers a rare combination of defensive infrastructure cash flows (dividend yield) and explosive growth potential from the AI energy transition.

I believe and transparency and accountability, and post my portfolio returns every month. I also have a weekly podcast with @7FlyingPlatypus where I dive deeper into the rationale for all my trades. We recently made 20 predictions for 2026, you can catch the playlist here:

https://www.youtube.com/playlist?list=PLoIESJivEZuAfJlY4pRtzM7ul8bVwiQWd

Portfolio Update (January 2026)

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Portfolio Update (Jan 2026)