Quarterly Performance Review #1

Q2 2025: +36.0%

It’s been a while since the last performance review, as these are now published quarterly. While I’m still evaluating how to systematize and communicate position sizing, I haven’t yet landed on a transparent solution. For now, this review sticks to two outcomes: (1) Hold, and (2) Exit.

This update places all past write-ups in their current context, winners and losers alike. Several picks are being closed effective immediately, with three mistakes documented and lessons learned. As a reminder, all exits take place after subscribers are notified. In this case, at today’s close.

Most names have played out largely as expected, with some presenting new opportunities heading into the Q2 earnings season, including one with contractually disclosed evidence of a revenue beat. That said, given my evolving investment philosophy and other factors, there are a few I’d have never written about in hindsight.

More on that, though, in an upcoming (and imminent) post titled My Investment Philosophy & Process.

Scroll down to download the full performance review and its accompanying evaluation spreadsheet.