Michal Hlavacka @Michalhla: "𝐏𝐨𝐫𝐭𝐟𝐨𝐥𝐢𝐨 𝐮𝐩𝐝𝐚𝐭𝐞 - 𝐰𝐞𝐞𝐤 𝐞𝐧𝐝𝐢𝐧𝐠..."

Czech Republic

𝐏𝐨𝐫𝐭𝐟𝐨𝐥𝐢𝐨 𝐮𝐩𝐝𝐚𝐭𝐞 - 𝐰𝐞𝐞𝐤 𝐞𝐧𝐝𝐢𝐧𝐠 𝐌𝐚𝐲 𝟑𝟎 Past week returns: 🟢 This Portfolio: 1.46% 🟢 $SPY (State Street SPDR S&P 500 ETF) 1.43% 12 month returns: 🟢 This Portfolio: 56.55% 🟢 S&P 500: 28.21% 2 year returns (since Jan 2024): 🟢 This Portfolio: 215.15% 🟢 S&P 500: 59.33% Since March 2020 (start of the portfolio) 🟢 This Portfolio:+1003.49% 🟢 S&P 500: 154.7% Check out more statistics about the portfolio here: bullaware.com/etoro/Michalhla 𝐂𝐡𝐚𝐧𝐠𝐞𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐩𝐨𝐫𝐭𝐟𝐨𝐥𝐢𝐨 Last week was rather atypical as there was a lot of activity in the portfolio. I have trimmed yet another part of our $RKLB (Rocket Lab Corp) position, amounting to 1.5% of the portfolio, earning 3801.6% profit in 37 months. That is currently the highest single position profit I have ever achieved, and I am happy that the 10x strategy is not just a theory, but such returns are possible. We have closed the rest of our $XFAB positions, totaling 3.79% of the portfolio, earning 174.78% profit in less than 4 months. The thesis did not really have time to materialize after a well-known Reddit and X finfluencer known as Serenity published a bull case that broadly matched what I had published in the weekly report explaining my $XFAB thesis in February. The stock jumped, and the price currently does not offer a good risk/reward potential for me, so I was happy to fully exit. We have also closed the $P (Everpure Inc) positions, which in total amounted to 2.49%, earning 8.15% profit in 4 months. I came to the conclusion that the thesis was wrong and the company won't benefit from the AI buildout, as their technology for faster data storage was not sufficiently differentiated, and the company was exposed to increased flash storage cost. I am always happy to admit I have made a mistake, exit the position, and move on. It is an important part of the investment process, which is a batting average kind of discipline, like baseball. It is impossible to get everything right, to hit every ball. But how much you get right and how you handle the cases where you are wrong is crucial. I have added to the following existing positions: TSM: additional 4.20 percentage points ASML: 2.09pp NU: 0.9 pp CRWV: 0.59 pp BABA: 0.50 pp NVO: 0.48pp A few remarks regarding $TSM (Taiwan Semiconductor Manufacturing Co Ltd - ADR) and $ASML (ASML Holding NV). These became the number 1 and number three stock positions in the portfolio. I concluded that both of these companies were not really using their pricing power and can and likely raise prices much more in the short and medium term. Both of these companies are bot technologically extremely differentiated from their competition and their position in the AI supply chain is close to set in stone. In my opinion, there is a chance that Elon Musk will start a bidding war for $ASML machines if the Terafab project gets past the initial pilot operation successfully. There have been reports Terafab started offering premiums to get equipment quickly. Those were not $ASML machines, but it shows what playbook Musk uses to get Terafab of the ground fast and there is no reason to expect something else in the scaling phase. He has already started talks with $ASML as well. I am aware that it might take time to get there and I am happy to make that part of my thesis now. This naturally leads to further potential positive scenarios, like $ASML announcing more aggressive capacity expansion. I would expect a very positive market reaction to that. 𝐍𝐞𝐰𝐬 $PDD (PDD Holdings Inc - ADR) reported Q1 2026 earnings that were below Wall Street’s expectations, and the stock fell over 20%. Revenue still grew +11% year over year, with a new RMB 15B first-party brand business and RMB 100B three-year merchant-support commitment weighing on profit. Operating margin fell to 18.4%. I would definitely prefer better numbers, but these results leave the thesis still intact. While I am happy to hold $PDD as a value investment, I have not added to the position following the post-earnings drop. I am currently happy with the allocation and prefer to look for growth opportunities and technological disruptors with bigger upside. Disclaimer: Copy Trading is not investment advice | Capital at risk | Past performance does not guarantee future results

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