Theo Druker @theodruker: "🌌 May 2026 – Market..."

France

🌌 May 2026 – Market & Portfolio Update +18% Growth this year Dear Copiers, Followers, and Future Partners, May was another reminder that markets reward patience more than prediction. After a volatile first quarter, investor sentiment continued to improve as capital flowed back into quality growth names, AI infrastructure, and digital assets. While headlines remained focused on inflation, geopolitics, and interest rates, the broader trend remained surprisingly resilient. The S&P 500 continued to push higher, major technology companies delivered solid results, and institutional interest in digital assets remained strong. Rather than reacting to every headline, we stayed focused on long-term positioning and portfolio discipline. ⸻ 📈 Portfolio Updates ITA: Mission Accomplished As discussed in last month’s update, we continued reducing our position in ITA and fully exited during May with a 102% profit. The defense sector has been a strong contributor to performance over the past year, supported by rising military spending and a changing geopolitical landscape. ITA delivered exactly what we expected from it. Rather than holding indefinitely, we chose to redeploy capital toward our highest-conviction opportunities. ⸻ Taking Partial Profits on Galaxy Digital One of the key decisions this month was trimming approximately 20% of our Galaxy Digital position after a strong move higher. This was not a change in conviction. Galaxy remains our largest position and one of our strongest long-term ideas. The sale simply reflected disciplined portfolio management after a significant rally. Taking profits on a portion of a position while maintaining the core thesis allows us to lock in gains while remaining exposed to future upside. ⸻ 🔍 Why We Still Believe in Galaxy Galaxy continues to stand at the intersection of several powerful long-term themes: * Institutional adoption of digital assets * Bitcoin infrastructure * AI and high-performance computing * Data-center development Under Mike Novogratz’s leadership, Galaxy has evolved far beyond a traditional crypto company. Its Helios campus and infrastructure strategy place it directly within one of the most important investment themes of the decade: the growing demand for computing power. We continue to view Galaxy as a unique way to gain exposure to both digital finance and digital infrastructure. ⸻ ₿ Bitcoin: The Institutional Story Continues Bitcoin remains an important part of the portfolio. What has changed over the past year is who is buying. The arrival of spot Bitcoin ETFs, led by BlackRock’s IBIT, has accelerated institutional participation and broadened access to the asset class. Bitcoin is increasingly becoming part of traditional portfolio construction rather than remaining a purely speculative asset. That long-term trend remains intact. ⸻ Portfolio Structure Today Our portfolio is now built around a clear set of convictions: SPY provides broad market exposure and stability. AMZN and QQQ capture long-term growth through technology and artificial intelligence. BTC and GLXY provide exposure to the future of digital finance, infrastructure, and institutional adoption. The portfolio is more concentrated than it was a few months ago, but concentration is not necessarily risk when it is supported by conviction, research, and a long-term horizon. ⸻ 🚀 Why We Remain Optimistic We continue to believe that some of the strongest opportunities over the coming years will be found at the intersection of: * Artificial Intelligence * Digital Infrastructure * Digital Assets * Large-scale Computing Those themes remain at the heart of our portfolio today. As always, we stay patient, disciplined, and focused on the long term. Thank you for your trust and continued support. Onward, Théo $GLXY (Galaxy Digital) $BTC $SPY (State Street SPDR S&P 500 ETF) $AMZN (Amazon.com Inc) $QQQ (Invesco QQQ)

Not investment advice. The author may have financial interests in the mentioned instruments.