Portfolio Update – 04/20/2026 (All-Time High)

Key Takeaways

• Portfolio hit all‑time high with 22% YTD gain versus SPY 4.2%
• 2024 returns surged 173%, 2025 up 98%, total +560% since 2024
• No options or leverage used, emphasizing pure equity strategy
• U.S.–Israel–Iran conflict easing, lowering geopolitical risk premium

Pulse Analysis

The latest portfolio update showcases a remarkable performance trajectory, with a 22.0% year‑to‑date gain that dwarfs the S&P 500’s modest 4.2% increase. Since the fund’s inception in early 2024, cumulative returns have surged to +559.8%, driven by a 173.0% surge in 2024 and a 98.1% jump in 2025. Such numbers are rare in a market still grappling with post‑pandemic inflation pressures and shifting monetary policy, underscoring the investor’s ability to capture upside while avoiding the volatility that many leveraged or option‑heavy strategies endure.

A key differentiator behind this outperformance is the strict avoidance of options and leverage. By committing solely to outright equity positions, the portfolio maintains a clean risk profile, reducing exposure to margin calls and the complexities of derivatives pricing. This disciplined approach aligns with a risk‑adjusted return philosophy that many institutional investors prize, especially when benchmark indices like the S&P 500 deliver modest gains. The stark contrast—+559.8% versus the index’s +53.2% since inception—demonstrates how a focused, low‑beta strategy can generate alpha in a market where many funds struggle to beat the benchmark.

Looking ahead, the investor cites the de‑escalation of the U.S., Israel, and Iran conflict as a catalyst for a more stable macro environment. With geopolitical risk premiums receding, the portfolio can pivot toward sectors poised for growth without the shadow of sudden shock events. The author also emphasizes transparency, offering quarterly free summaries while reserving detailed insights for paid members. This model not only builds trust but also positions the fund as a thought‑leader for investors seeking high‑conviction, low‑risk equity exposure in an evolving global landscape.