Stewart Fitzell @defense_investor: "𝗪𝗵𝘆 𝗜’𝗺 𝗖𝗼𝗺𝗳𝗼𝗿𝘁𝗮𝗯𝗹𝗲 𝗛𝗼𝗹𝗱𝗶𝗻𝗴 𝗠𝗼𝗿𝗲..."

Ireland

𝗪𝗵𝘆 𝗜’𝗺 𝗖𝗼𝗺𝗳𝗼𝗿𝘁𝗮𝗯𝗹𝗲 𝗛𝗼𝗹𝗱𝗶𝗻𝗴 𝗠𝗼𝗿𝗲 𝗖𝗮𝘀𝗵 𝗥𝗶𝗴𝗵𝘁 𝗡𝗼𝘄 This year has been dominated by noise, and that’s still the case. Constant narrative shifts, crowded trades, and rotation have replaced clear trends, and we’re not seeing the usual Santa Claus rally. The market is still looking for direction. In that environment, I’ve trimmed some of our stocks, including $GOOG (Alphabet) and $NVDA (NVIDIA Corporation) , and exiting Palo Alto Networks. These are strong businesses, but concentration risk rises when expectations stretch. I’ve leaned further into consistent profit-makers like $RR.L (Rolls-Royce) and $CRH.L , and opened a position in $V (Visa) to increase exposure to durable, cash-generative financial services. I’m also holding around 𝟭𝟴.𝟱% 𝗰𝗮𝘀𝗵 - dry powder while the market digests this phase. This approach - focusing on companies that make profits on a consistent basis, adjusting risk when needed, and leaning into defensives when direction is unclear has delivered +𝟮𝟵% performance so far this year, more than double the S&P 500 (𝟭𝟰.𝟯%). My 2026 outlook will be published soon. As always I welcome questions. Regards, Stewart ⚠️ Risk Warnings: Copy Trading does not amount to investment advice | Your capital is at risk | The value if your investments may go up or down. | Past performance is not indicative of future results.

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