Portfolio Reveal: Performance & Individual Holdings
Let's look at how my portfolio actually looks, listing all the stocks I currently own!
Preface
I finally got around to putting this together - revealing my whole portfolio of individual stock investments with regular updates planned. There are two portfolios published here: My Private Portfolio, which tracks my investments all the way back since 2010. And Hated Moats Portfolio, which is a little experiment of investing purely in stocks I analyse here and consider worth buying - I actually do buy them. Many investments are part of both portfolios.
I don’t share my ‘main pot’ which is just old and boring index funding (all-world fund and older S&P 500 holdings) - no one cares about that. It’s important to note that boring indexing is still the majority of my overall investing (about 60%) sincemy investment philosophy is ‘buy index always, buy stocks when it’s really worth it’.
This article serves to provide maximum transparency with you guys, and, hopefully, add credibility to our publication in the long run.
As far as methodology goes, both portfolios utilise two advanced tracking methods to ensure an honest comparison:
“Shadow Benchmarking” where every time cash is deposited into these portfolios, the system simulates buying the equivalent amount of the S&P 500 (SPY) and Nasdaq (QQQ) on that exact same day. This accurately answers if the specific stock picks outperformed a passive strategy with the same cash flow.
“The Cash Drag Test” - unlike many benchmarks that assume you are always 100% invested, our charts include the impact of holding cash. This measures both stock-picking skill and the effectiveness of risk management through cash positioning.
Let’s look at them!
My Private Portfolio
This portfolio tracks my real investment journey in individual stocks starting back in 2010. For security reasons, the nominal dollar values are normalised to a $100,000 base. While the actual account balance is hidden (and very different), all percentage returns, allocation weights, and trade timings are 100% real and accurate.
Overall Performance
Here is a chart of my stock portfolio has been doing throughout the years compared to two benchmark indices I use (S&P 500 and Nasdaq):
The early part of the chart appears flat because initial deposits were very small compared to the current total value. The "hockey stick" growth seen recently reflects a major funding event in July 2024 (the sale of my AAPL position) and subsequent large cash deployments in 2025. As you can see, the all time performance is quite alright!
And here is the heatmap depiction:
YTD Performance
As we all know, publishing this article at the end of January would’ve done me a much bigger service than publishing it now. :)
Publishing a YTD performance after just two months of the year does not make much sense in my opinion, but in this case, I believe it illustrates well what it means to be a real long-term investor (see the overall performance above) versus looking at things in terms of months, i.e. really short term:
You can see that while I was having a blast up until the second half of January, I’m not the one laughing now - underperforming S&P 500 and being on par with Nasdaq. Could be worse, considering… Even less eye-appealing as a heatmap but I’m still not worried in the slightest:
Individual Holdings
Here is the list of the individual holdings in My Private Portfolio with a little story for each. They are sorted from oldest to newest, weights as of February 27, 2026.
MetLife ( MET 0.00%↑ )
Held since: August 2010
Current Portfolio Weight: 0.47%
Average price: $33.53
Commentary: Legacy holding. First individual stock I’ve ever bought. It was just so cool to see it on the New York skyline. :) Holding as a sentimental memory of the good ol’days.
Alphabet Class A & Alphabet Class C ( GOOGL 0.00%↑ & GOOG 0.00%↑ )
Held since: September 2011
Current Portfolio Weight: 30.98% (combined)
Average price: $63.02 (GOOGL) & $12.90 (GOOG)
Commentary: Google is my largest holding and the second oldest one. I bought with high conviction in 2011 and ever since, I still believe it’s the greatest company and business model in the world. I could write multiple articles about Google (and maybe I will :), but it’s the main driver of my portfolio throughout the years and it’s been the epitome of my long-term strategy described above, i.e. buy broad index funds all the time and buy individual stocks when they are ridiculously cheap. This stock treated me extremely well, virtually never disappointing me and currently is even rewarding me for just holding it via selling covered calls on it.
The best company in the world, the best stock I hold and the best investment I’ve ever done. The forever hold type of stock.
Microsoft Corporation ( MSFT 0.00%↑ )
Held since: March 2017
Current Portfolio Weight: 2.48%
Average price: $69.83
Commentary: I remember buying Microsoft as an amazing company with world-changing product that I use literally every day. Nothing changed about that thesis till today and the only regret could be not buying more.
Visa ( V 0.00%↑ )
Held since: February 2019
Current Portfolio Weight: 0.93%
Average price: $148.04
Commentary: Another legacy holding, another product of a high quality company with a moat from duopoly that I use daily. I still haven’t decided whether to sell in spirit of portfolio clean-up, or if to keep it to build a meaningful position at the right time.
Waste Management ( WM 0.00%↑ )
Held since: March 2019
Current Portfolio Weight: 1.11%
Average price: $109.81
Commentary: Amazing company, amazingly boring business with amazing compounding. I like to have an exposure to WM, even if it’s a little one, but it’s also a legacy candidate for the port clean-up right now.
Cameco Corporation ( CCJ 0.00%↑ )
Held since: July 2019
Current Portfolio Weight: 9.88%
Average price: $13.53
Commentary: Cameco is my second largest position as of publishing this, and the stock has treated me extremely well. I’m a proud holder of this fantastic company and also proud of recognising its potential early on. This was the first company where I conducted real and proper deep fundamental research in extent of tens of hours. And it’s paid off. Unless something happens, this is another forever hold stock for me.
Robinhood ( HOOD 0.00%↑ )
Held since: November 2021
Current Portfolio Weight: 1.27%
Average price: $33.21
Commentary: I remember buying HOOD when I thought the IPO drop was over and it was a good price to enter. Boy, was I wrong. :) I was down for 3 years straight, most of the time above -50%, until it propelled to being up around +322% in September 2025, only to get down to current levels. Love-hate relationship with this roller-coaster of a stock but I believe in its moat and I still think it’s a good long-term holding.
Meta Platforms ( META 0.00%↑ )
Held since: February 2022
Current Portfolio Weight: 4.04%
Average price: $237.04
Commentary: Meta lives dearly in my investing heart because the stock was the first proper impulse to initiate a Hated Moat philosophy. We all know the story of Meta in 2022, how it was a dead company, and what happened next. Epitome of Hated Moats and a result I’ll strive to replicate in the future.
Intuitive Surgical ( ISRG 0.00%↑ )
Held since: October 2022
Current Portfolio Weight: 2.11%
Average price: $218.43
Commentary: I bought ISRG the very same day I saw its DaVinchi in action at work, and never looked back. Just as its product impressed me, the stock has treated me equally well. The only regret is buying at the time I saw it with my own eyes in my hospital, and not when I saw it first on Grey’s Anatomy. :)
Adobe Inc. ( ADBE 0.00%↑ )
Held since: October 2022
Current Portfolio Weight: 4.39%
Average price: $337.29
Commentary: I first bought Adobe in Oct 2022 as a Hated Moat and it did very well, bringing more than +120% return in 15 months of holding. Only time will tell if it was a mistake not to realise the gains, though so far it seems so. I still believe in Adobe as a company, and that’s why I’ve been adding to the position in the recent months and planning to add some more if nothing fundamental changes.
Broadcom ( AVGO 0.00%↑ )
Held since: February 2023
Current Portfolio Weight: 5.33%
Average price: $63.45
Commentary: From the moment I started researching Broadcom till today, it’s still one of the most exceptional businesses ever. Happy, most likely a forever owner.
Interactive Brokers ( IBKR 0.00%↑ )
Held since: September 2023
Current Portfolio Weight: 1.18%
Average price: $23.09
Commentary: Researched the company as it’s yet another product I use daily and I’m satisfied with. What I’ve found was truly impressive and even though the total allocation is small, I’m glad I own a piece of this business.
Rocket Lab ( RKLB 0.00%↑ )
Held since: August 2024
Current Portfolio Weight: 3.29%
Average price: $8.36
Commentary: A high risk, high reward investment that resulted in the high reward and in over a year, this company pleased me with a 10-bagger. As the stock meme saying goes, I like the stock.
Constellation Software ($CSU.TO)
Held since: November 2025
Current Portfolio Weight: 0.47%
Average price: C$3,010.04
Commentary: I really, really like the business model of CSU and how it’s run. I planned (and I’m still planning) to build a more meaningful position here but I preferred to build a position in Nebius first, and every time I looked at this stock, it was down. Every. Single. Time. I still think it’s one of the best long-term opportunities out there right now, and I’ll be getting more.
Taiwan Semiconductor ( TSM 0.00%↑ )
Held since: April 2025
Current Portfolio Weight: 3.13%
Average price: $157.61
Commentary: One of the two positions I initiated back in April 2025 during the market’s weakness and panic. Arguably the most important company of 2020s. Well run, great business, essential products, great returns. Only regret, as always in these cases, is not holding more.
ASML Holding ( ASML 0.00%↑ )
Held since: April 2025
Current Portfolio Weight: 6.09%
Average price: $639.43
Commentary: The second position I initiated during the ‘Liberation day’ panic was ASML. I believe, alongside Google, it’s a company with the largest moat on Earth. It performed similarly well as TSM and I’m glad I was patient enough to inniatate a position in these world class companies at discounted prices.
UnitedHealth Group ( UNH 0.00%↑ )
Held since: July 2025
Current Portfolio Weight: 1.85%
Average price: $283.80
Commentary: Giant that has become a Hated Moat. The hate seemed overdone, so I dived deep. First ever analysis of an individual company posted here, so that will be a fond memory. What I’m not particularly fond of is that the position was up +30% and UNH managed to get back to break-even to my July 2025 entry. I’m still confident long-term.
Novo Nordisk ( NVO 0.00%↑ )
Held since: August 2025
Current Portfolio Weight: 6.61%
Average price: $47.15
Commentary: I don’t think there’s much that needs to be said, since Novo is the company I post about the most. Moat is there, the company is solid but it’s experiencing a perfect storm that start about the time I bought in, naturally. How do you get out of a perfect storm? You navigate your way out, perfectly. And that won’t be easy. I’m done adding to the position as every time ‘the band-aid is ripped off’, the stock tanks and the company appears to be covered all in bloody band-aids. So I’ll just follow my strategy, which you can read about HERE. Objectively, of course, not happy with this position so far, at all, as there hasn’t been really a reason.
Masimo ( MASI 0.00%↑ )
Held since: September 2025
Current Portfolio Weight: 1.48%
Average price: $142.02
Commentary: I saw the product in real life, I liked it, I researched the company, I wrote a deep dive analysis, I hinted a possibility of getting acquired, and the company is now getting acquired. First start-to-end successful story of Hated Moats, brought in public in real time. Glad you were part of it!
dLocal Limited ( DLO 0.00%↑ )
Held since: November 2025
Current Portfolio Weight: 2.59%
Average price: $13.43
Commentary: Analysis and valuation posted in real time here, I still think this company has a great future ahead and is proper undervalued. The performance so far is not inspiring but when I say a ‘long term investor’, I really mean it. :)
Nebius Group ( NBIS 0.00%↑ )
Held since: November 2025
Current Portfolio Weight: 4.51%
Average price: $91.48
Commentary: Another high risk, high reward play where conviction is really high as well, supported by execution and capable management. Markets price stocks based on their future potential and I think NBIS is not yet priced in for what will actually deliver. Could be wrong as it can be among the first fall-guys in case of any AI bear sentiment, as we’ve seen it multiple times and generally with the stock’s volatility.
Uber Technologies ( UBER 0.00%↑ )
Held since: December 2025
Current Portfolio Weight: 0.95%
Average price: $79.23
Commentary: While everything is disrupted and everyone is replaced by AI, Uber has become a Hated Moat because it will be disrupted by autonomous vehicles. I don’t believe in neither of those narratives.
Wix.com ( WIX 0.00%↑ )
Held since: January 2026
Current Portfolio Weight: 1.17%
Average price: $76.38
Commentary: Another high risk, high reward play. The narrative says Wix will die in the slaughter of SaaS by AI. My analysis suggests otherwise and my conviction has been good enough to allocate a small portion of portfolio here. I’m not saying the bear case won’t happen, I’m just willing to bet that base case scenario happening is more likely. Will be an interesting one to follow and own!
Netflix ( NFLX 0.00%↑ )
Held since: February 2026
Current Portfolio Weight: 1.60%
Average price: $77.65
Commentary: I’ve always watched Netflix, always liked it and always wanted to own it. Never get to it up until recently in February 2026. Did valuation, set a rule of going in at $80 and $75, stuck to the plan and now I’m a happy shareholder with wonderful company at fair price (even undervalued at my given entries).
Hated Moats Portfolio
Now this is a newbie and I know it won’t attract the type of audience that is out here for triple-digits gains every year without any losers. Then again, I’m not really interested in such an audience, really, as people claiming having 100%+ returns every year without losers are in the game either for very short period of time, or lying - there’s no other choice.
This portfolio started with the first purchase at the time of the first analysis published here, with a clean $100,000 deposit on July 28, 2025. It aims to serve as a transparent portfolio of our analyses here on Substack where every trade and its impact on a $100k base is tracked in real-time. You have enough conviction to say some company is a buy? Put your money where your mouth is! So I did. Note this portfolio is still very young (not even 1 year) and experiences quite harsh cash drag (up to 10%) as of now. However, I admit there were some very bad picks already, more on that below.
Overall Performance
While the portfolio had its moments - you can see that by the end of January 2026, it was outperforming both indices dispate a huge disadvantage in form of a cash drag (10% was sitting idle in cash for me while it was long invested in S&P 500 and QQQ).
However, we knew what Feruary of 2026 brough. All gains wiped out, hovering around breakeven. Here, I’m not worried either and I don’t think it’s fair to judge a portfolio at this early stage. Let’s see in a year. :)
YTD Performance
Again, even though YTD by the end of Feb is more or less meaningless, it’s not the chart that will bring hunders of subscribers. If anything, it’ll bring toxic vitriol from Twitter and Reddit. :)
Being down almost -7% YTD is no fun though, and since I’m experienced enough not to be worried about it, I have no problem publishing it for transparency. Here’s the red sea visually to make it even worse:
Individual Holdings
UnitedHealth Group ( UNH 0.00%↑ )
Held since: July 2025
Current Portfolio Weight: 7.96%
Average price: $274.80
Commentary: Described above in Private Portfolio section.
Novo Nordisk ( NVO 0.00%↑ )
Held since: August 2025
Current Portfolio Weight: 7.24%
Average price: $49.53
Commentary: Described above in Private Portfolio section.
ASML Holding ( ASML 0.00%↑ )
Held since: August 2025
Current Portfolio Weight: 13.14%
Average price: $743.52
Commentary: The best performer of Hated Moats Portfolio!
Adobe Inc. ( ADBE 0.00%↑ )
Held since: August 2025
Current Portfolio Weight: 7.90%
Average price: $334.00
Commentary: Described above in Private Portfolio section.
dLocal Limited ( DLO 0.00%↑ )
Held since: September 2025
Current Portfolio Weight: 6.08%
Average price: $13.42
Commentary: Described above in Private Portfolio section.
Masimo Corp ( MASI 0.00%↑ )
Held since: September 2025
Current Portfolio Weight: 3.54%
Average price: $142.02
Commentary: Described above in Private Portfolio section.
PayPal Holdings ( PYPL 0.00%↑ )
Held since: September 2025
Current Portfolio Weight: 1.53%
Average price: $67.12
Commentary: PainPal, as Duolingo below, always seemed a bit off and my gut never really believed in its eroding moat. The lesson is I should listen to the investing gut more. :) I exited the sub 1% position I had in my main, Private Portfolio, and keeping this one here as a warning, reminder and speculation all in one. The speculation is PYPL getting acquired, which almost happened recently with Stripe, but I noted that this horrible stock can fumble even that - and they did. Horribly, horribly ran company and I’m glad my overall allocation to this pile of… was a very small one.
Constellation Software ($CSU.TO)
Held since: November 2025
Current Portfolio Weight: 5.65%
Average price: C$2978.00
Commentary: Described above in Private Portfolio section.
Nebius Group ( NBIS 0.00%↑ )
Held since: November 2025
Current Portfolio Weight: 5.05%
Average price: $88.84
Commentary: Described above in Private Portfolio section.
Meta Platforms ( META 0.00%↑ )
Held since: November 2025
Current Portfolio Weight: 7.75%
Average price: $609.30
Commentary: Described above in Private Portfolio section.
Salesforce ( CRM 0.00%↑ )
Held since: November 2025
Current Portfolio Weight: 5.89%
Average price: $227.84
Commentary: I was a bit reluctant to add this one, and even though I’m not a fan of the CEO, I still believe the underlying business is good and hatred brought by AI is overblown.
Duolingo ( DUOL 0.00%↑ )
Held since: November 2025
Current Portfolio Weight: 1.96%
Average price: $184.12
Commentary: Something always felt off about this, and for a good reason. The biggest loser of the portfolio so far. I always hated the app, I should’ve hated the stock as well. :) Will analyse the latest disaster-level price reaction earnings and consider dumping this one, as the opportunity cost for this is massive. Glad it was a small allocation.
Uber Technologies ( UBER 0.00%↑ )
Held since: December 2025
Current Portfolio Weight: 4.99%
Average price: $79.01
Commentary: Described above in Private Portfolio section.
Mo-Bruk ($MBR.WA)
Held since: December 2025
Current Portfolio Weight: 7.49%
Average price: zł313.00
Commentary: My bet on EU stock, where I conducted a really deep analysis. Boring business that turns trash into cash, and I’m a happy shareholder so far.
Wix.com ( WIX 0.00%↑ )
Held since: January 2026
Current Portfolio Weight: 3.51%
Average price: $86.72
Commentary: Described above in Private Portfolio section.
Conclusion
So, here it is. All screenshots of portfolios and charts are from our website that we are developing right now and will try to go live with it as soon as possible!
Generally, I’d like to be judged on My Private Portfolio since it’s the core of my investing in individual stocks, and actually has long enough track record to be judged upon. Hated Moats Portfolio is a more of an experiment which will be very interesting to share with you all in real time! I don’t think it will be relevant to talk about it much sooner than a year or two from now - since, again, we’re here actually for the long-term.
Appreciate the transparency/vulnerability laying this all out there! I actually started the same thing. A portfolio dedicated to the stocks written up on Substack or the portfolio driving the stocks to be written up (3 left now) with the same aim to deliver portfolio tracking and updates etc. Great to see how you’ve laid it out here too. Goals!
Love keeping your holdings public. I like to think investing is an art and art comes with the price of being a true meritocracy.
I don’t care who you are, just prove you own good companies for good reasons. I only majority Google as well.
Any reason for the split in share class? I make sure to buy specifically class A shares. My concept of ownership includes ownership direction, which is why I love Google ownership, but I want to be a part of that (even if my holding is uselessly small)