Weekly Portfolio Update
Summer Holidays, Portfolio Positioning & Market Thoughts
FTSE AIM All-share as at 26.05.2026.
I’m excited to be heading off on my summer holidays to Portugal from 1st June, so I wanted to give premium subs a quick in-week update on my holdings and latest thoughts before I go.
This comes before the regular monthly update for July, which will be available to everyone when I get back. I still aim to put out a weekly article on Fridays, but I also want to have some time to relax and recuperate.
With that in mind, I want to make sure the portfolio is positioned properly and commit my plans to writing before I go away, so I can set alerts and avoid constantly checking my phone while I’m gone.
The S&P 500 is at all-time highs, and futures are set to open up another 0.5% and VIX is stable as I type. Things seem to be feeling a bit more settled, although headline risk is still clearly there.
They say history doesn’t repeat, but it often rhymes. If that is the case, I do wonder whether the Iran war will reach some sort of resolution and what follows is a period of euphoria. It certainly feels that way in the US.
If you’ve only been investing over the past three years, you could be forgiven for thinking stocks only go up and all you need to do is buy the dip whenever the market pulls back.
Could this be the dot-com bubble Mk II?
I wouldn’t be surprised if SpaceX and OpenAI eventually list at absurd valuations, with insiders using retail investors as exit liquidity.
That kind of event could easily mark some kind of market top, because at some point we probably need a proper 20-25% correction.
That said, for now market conditions still feel supportive. Euphoria can go on for a lot longer than people expect, and often the best money is made right near the end, during the parabolic blow-off phase before a correction.
The FTSE AIM All share is well above its 50day SMA (see above) which is usually bullish and now could be the time for smallcaps to shine!
I watch all my positions like a hawk, so risk management remains the focus. But right now I feel like I have too much cash burning a hole in the portfolio, especially under these conditions.
So below is a quick update on my holdings and my plan heading into the summer break, what I’m doing with the cash, and the key levels and risks I’ll be watching while I’m away…
