Article
Portfolio review — Q1 2026
What changed in conviction, what I trimmed, and which assumptions I am explicitly revisiting after a volatile quarter.
Quarterly reviews are less about performance cheerleading and more about stress-testing the stories I told myself when I opened each line item.
This cycle I focused on three questions: did fundamentals evolve the way the thesis expected, did position size still match risk tolerance, and did any holding become a “default” position I was afraid to sell?
The answers are mixed, which is healthy. Transparency matters more than a polished narrative. Readers following along should expect the same blunt checklist each quarter.