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The record

Stocks

Every position, newest first, with its entry marked on the chart. A call that went wrong stays here next to the ones that went right, and a thesis that stopped being true is marked as such rather than quietly removed.

10 calls10 open0 settled6 up, 4 down

Calls on the record
10
Open now
10
Mean return
+10.6%
Tracking since
Sep 2025

Mean return is the arithmetic mean across all 10 calls, 6 up and 4 down, marked at the exit price where a call is closed and the last close where it is open. It is not a portfolio return, and nothing here is compounded.

Allocation

What is running, and what has settled.

10
open positions
  • NVDA18.8%+51.3%
  • INTC14.3%-11.5%
  • GOOGL8.6%+20.4%
  • MSFT15.8%+20.5%
  • PLTR9.4%+37.3%
  • MU8.2%-8.5%
  • AMD8.1%-3.5%
  • ARM7.3%+36.2%
  • SLDP1.5%-46.0%
  • KO8.0%+9.4%
Position weight

Sized by real position weight, as a percentage of the live portfolio. The percentages are the only thing published. The share counts and the amounts behind them never leave the private store.

Writing

Stock notes

Every note tagged with a ticker on this record, newest first. A note filed under a ticker also appears on that company’s own page, next to the position, so the thesis and the writing behind it stay in one place.

Positions

Every call on the record

Every card opens that company’s page: the same position, plus every note filed under it. The chart keeps its own hover, so reading a price off one does not count as clicking through.

Largest position first, as a percentage of the live book. Settled calls hold nothing, so they follow, most recently closed first. 4 of 10 are down in every view.

NVDA

NVIDIANASDAQ

LONG+51.3%
Entry
SEP 15$144.64
Last
$218.84

Thesis

The accelerator socket is still the scarcest thing in the build-out, and the software moat around it is what keeps a hardware business priced like a platform. The position is on the socket, not on any one generation of part.

MSFT

MicrosoftNASDAQ

LONG+20.5%
Entry
NOV 10$421.74
Last
$508.38

Thesis

Enterprise software with a compute business attached, not the other way round. The seat count is what pays for the capital expenditure, and the seat count does not churn on a model release.

INTC

IntelNASDAQ

LONG-11.5%
Entry
MAY 18$111.54
Last
$98.70

Thesis

Everything outside the foundry is intact, and the client PC franchise still holds share. The position is on 14A reaching volume in 2028, which is the point at which the foundry stops being a cash drain and starts being an asset the market has to price.

PLTR

PalantirNASDAQ

LONG+37.3%
Entry
JAN 12$129.24
Last
$177.42

Thesis

Deployment is the product. The technical work of getting a model to touch a real operational system is the part nobody wants to do, and government contracts renew on inertia.

GOOGL

AlphabetNASDAQ

LONG+20.4%
Entry
OCT 6$294.74
Last
$354.82

Thesis

The only company that owns the model, the silicon it trains on, and the distribution it ships through. Vertical integration compounds quietly, and the search franchise funds the whole thing while it does.

MU

Micron TechnologyNASDAQ

LONG-8.5%
Entry
FEB 9$964.01
Last
$882.02

Thesis

HBM capacity is contracted years out, which turns a historically cyclical memory business into something closer to a backlog business. The market still prices the old cycle.

AMD

Advanced Micro DevicesNASDAQ

LONG-3.5%
Entry
MAR 9$492.51
Last
$475.33

Thesis

The second source every large buyer wants to exist, whether or not they buy much of it. That position has value even when the share numbers stay unimpressive, and the server CPU business is winning on its own merits.

KO

The Coca-Cola CompanyNYSE

LONG+9.4%
Entry
DEC 8$79.88
Last
$87.35

Thesis

The ballast. Every other name on this record is a bet on the same build-out resolving the same way, and a book made entirely of correlated bets is one bet. This is the position that is not correlated with the rest.

ARM

Arm HoldingsNASDAQ

LONG+36.2%
Entry
APR 13$198.64
Last
$270.59

Thesis

A royalty on instruction sets, collected regardless of which fab or which vendor wins. Custom silicon in the data centre widens the base it is collected from without Arm having to build anything.

SLDP

Solid PowerNASDAQ

LONG-46.0%
Entry
JUN 8$4.28
Last
$2.31

Thesis

A small speculative position on sulphide solid-state electrolyte reaching a qualified cell line. This one is sized to be wrong: the thesis is a materials-science bet with a real chance of never converting.

Before this

The prior record

UK account, Sep 2024 to Jun 2026: 179 purchases across 28 names, 29 of them down, +37.0% blended. It is kept separately because it was regular small buying rather than sized calls, so nothing in it carries a thesis and none of it belongs in the numbers above. It is published for the same reason the losing calls are.

Read the prior record