Bogdan Sumaruk @Sir_H_Pennywise: "𝗪𝗲𝗲𝗸𝗹𝘆 𝗣𝗼𝗿𝘁𝗳𝗼𝗹𝗶𝗼 𝗥𝗲𝘃𝗶𝗲𝘄 𝟮𝟱..."

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𝗪𝗲𝗲𝗸𝗹𝘆 𝗣𝗼𝗿𝘁𝗳𝗼𝗹𝗶𝗼 𝗥𝗲𝘃𝗶𝗲𝘄 𝟮𝟱 𝗠𝗮𝘆 𝘁𝗼 𝟯𝟭 𝗠𝗮𝘆 𝟮𝟬𝟮𝟲 𝗪𝗲𝗲𝗸𝗹𝘆 𝗽𝗲𝗿𝗳𝗼𝗿𝗺𝗮𝗻𝗰𝗲: +𝟯.𝟬% Quick structure: I’ll keep this in 3 parts. 𝟭. What happened this week 𝟮. Portfolio changes and comments 𝟯. What I’m watching next week 𝗣𝗮𝗿𝘁 𝟭 𝗪𝗵𝗮𝘁 𝗵𝗮𝗽𝗽𝗲𝗻𝗲𝗱 𝘁𝗵𝗶𝘀 𝘄𝗲𝗲𝗸 It was a shorter trading week because of Memorial Day, but not a quiet one. The market kept moving with a risk-on tone. AI, semiconductors and infrastructure related names remained strong, while lower oil prices and some relief in yields helped the broader market stay constructive. The main theme is still the same: investors are rewarding companies linked to real structural demand. AI infrastructure. Memory. Data centers. Power. Connectivity. Industrial capacity. That is exactly where a large part of this portfolio is already positioned, so naturally the week worked in our favour. There was some profit-taking toward the end of the week, but nothing dramatic. After a strong move, that is normal. The overall setup still looks constructive, just not something to chase blindly. 𝗣𝗮𝗿𝘁 𝟮 𝗣𝗼𝗿𝘁𝗳𝗼𝗹𝗶𝗼 𝗰𝗵𝗮𝗻𝗴𝗲𝘀 𝗮𝗻𝗱 𝗰𝗼𝗺𝗺𝗲𝗻𝘁𝘀 It was a strong week for the strategy. The portfolio finished around +3.0% for the week. The reason is pretty straightforward: we were already positioned in the areas that led the market. Technology remains the largest part of the stock portfolio, at roughly 46% of stock exposure. Names like CRDO, $MU (Micron Technology, Inc.), $GOOG (Alphabet), $ASML (ASML Holding NV), MXL, $TTMI (TTM Technologies Inc), $CLS (Celestica Inc) and LITE give us exposure to AI infrastructure, semiconductors, optical connectivity and the data center buildout. That worked well this week. But this is not just a “buy anything with AI in the name” portfolio. The structure is still balanced. I’m keeping around 16% in $BIL (SPDR Bloomberg 1-3 Month T-Bill ETF), short term T-bills, as dry powder and ballast. We also have meaningful exposure to Industrials and Materials through names like STRL, POWL, AGX, NEXA, $DY (Dycom Industries Inc.) and the gold/mining sleeve. So the idea is simple: stay exposed to structural growth where earnings momentum is real; keep enough flexibility so we are not forced to sell good positions during normal volatility. No major changes this week. Sometimes the right move is just to let the portfolio work. Monitor the risks, avoid overtrading, and don’t try to be clever just because the market gave you a green week. 𝗣𝗮𝗿𝘁 𝟯 𝗪𝗵𝗮𝘁 𝗜’𝗺 𝘄𝗮𝘁𝗰𝗵𝗶𝗻𝗴 𝗻𝗲𝘅𝘁 𝘄𝗲𝗲𝗸 Next week will be more about macro. We have ISM Manufacturing, JOLTS job openings, and then the big one on Friday: the May jobs report. The market has been willing to focus on growth recently, especially around AI and infrastructure, but rates still matter. If labour data starts to cool, equities could get more room to move higher. If the jobs report comes in too hot, the higher for longer narrative can come back quickly. So I’m not planning to force anything. The portfolio is already positioned where I want it: structural growth, some defensive flexibility, and a macro hedge through Materials and gold/miners. No need to chase. No need to panic. Let the data come to us. Thank you to all my copiers and fellow investors for staying the course. Bogdan

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