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Week 11 Portfolio Summary

15 May 2026. A slightly negative week, but the account stayed close to cost basis and the portfolio still felt under control after trimming one QQQA share to raise cash.

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15 May 2026 / Weekly Reviews

Week 11 Portfolio Summary

A slightly negative week, but the account stayed close to cost basis and the portfolio still felt under control after trimming one QQQA share to raise cash.

1. Snapshot
Item
Figure / comment
Estimated account value
c. £1,974.37
Week 10 value
c. £1,986.69
Weekly move
c. -£12.32 (-0.62%)
Starting cost basis
c. £1,999
Estimated cash
c. £246.34
Main trade
Sold 1 QQQA share for £25.41
This was a slightly negative week, but I would not describe it as a bad week. The account moved down by roughly £12, which is frustrating, but it is not the same type of pressure we had earlier when the portfolio was sitting around the £1,860 area. The account is still close to the original cost basis and I now have a useful cash position after selling a small amount of QQQA.
The main point for me is that the portfolio still feels under control. It was not a week where one holding completely damaged the account or where the structure stopped making sense. It was more a mixed week: some of the core names helped, some of the more volatile names pulled back, and gold did not give much protection.

2. How the week felt
Week 11 felt like a pause after the stronger recovery we have had recently. Week 10 was more about the Google sale and the fact that I had created cash. Week 11 was more about seeing whether the remaining portfolio could hold up without Google in it. Overall, it did hold up fairly well, even though the result was slightly negative.
The best part of the week was that Meta, VUAG and the Nasdaq exposure still showed support. That tells me the quality growth and broad market side of the portfolio is still working. The weaker part was that ASML and Symbotic both moved lower, and those are meant to be part of the AI and automation theme. That is a good reminder that even good themes can be volatile from week to week.
I also do not want to ignore the fact that gold was weak again. SGLN is meant to help balance the portfolio, but it will not protect the account every single week. I still think it has a role, but I need to be realistic that it can drag the portfolio as well as protect it.

3. What helped and what hurt
What helped this week was the higher-quality core. Meta was strong, VUAG did its job, Berkshire was slightly positive, and the Nasdaq exposure still helped overall even after I trimmed one share of QQQA. These are the names and ETFs that make the portfolio feel more structured rather than random.
What hurt was mainly the higher-volatility and rate-sensitive side. Symbotic had the sharpest fall, ASML pulled back, Rheinmetall stayed weak, and Realty Income plus NextEra were also under pressure. Gold also moved against the portfolio, which mattered because SGLN is still one of the largest holdings.
The positive is that the weaker positions did not completely overwhelm the account. The negative is that the portfolio is still not moving cleanly higher, so I should not get too comfortable. It is close to breakeven, but it still needs proper discipline.

4. Position review
Meta Platforms
Meta was one of the best parts of the week, up roughly 2.6%. That is encouraging because it is one of the higher-quality long-term holdings. I still see Meta as a strong AI and advertising platform business. The only thing I need to keep watching is whether AI spending starts to worry investors again.
VUAG / S&P 500 ETF
VUAG was also strong, up roughly 2.7%. This is exactly why I want it in the portfolio. It gives broad exposure to the US market without needing every individual stock pick to work. I would still treat this as a core holding rather than something to trade too much.
QQQA / Nasdaq-100 ETF
QQQA helped the portfolio, but I sold one share for £25.41. I think that was a sensible small trim because it raised cash without removing the AI and large-cap technology exposure completely. I still have Nasdaq exposure, but I now have more flexibility.
ASML
ASML was weaker, down around 4.1%. I do not think this changes the long-term case because ASML is still one of the best ways to own semiconductor infrastructure. However, it does show that the market can still punish even high-quality AI infrastructure names when sentiment cools.
Symbotic
Symbotic was the weakest position, down around 8.5%. This is the one I need to watch carefully. I still like the warehouse automation idea, but it is clearly not a smooth holding. I do not want to react emotionally, but I also should not ignore repeated weakness if it starts looking like more than normal volatility.
Rheinmetall
Rheinmetall stayed weak. The defence thesis is not broken in my view, but the market still seems to be resetting expectations after the stock had already run very hard. I would not average down here unless the price action starts to stabilise properly.
SGLN / Gold
Gold fell about 1.6%. This is annoying because gold is meant to be a hedge, but I need to remember that a hedge does not work perfectly every week. I still think SGLN has a role, especially if markets become more nervous again, but I should not rely on it to carry the account every week.
Airbnb
Airbnb was weaker, down roughly 3.1%. It is not a major concern by itself, but it is more tied to consumer strength and travel sentiment than the AI names. For now I am happy to monitor it rather than force a decision.
Realty Income
Realty Income was down around 2.0%. This still feels like a rates issue more than a company-specific problem. If rates calm down, it should feel better. Until then, it may remain quite slow.
NextEra Energy
NextEra was also slightly weaker. I still like the long-term electricity demand and infrastructure angle, but it is rate-sensitive and probably will not be the position that drives big weekly gains.
Berkshire Hathaway
Berkshire was slightly positive. It is not an exciting holding, but that is partly the point. In this portfolio it adds quality and steadiness, especially when the higher-growth positions are moving around.

5. Google cash plan
The Google position is still closed after the earlier sale. I still think the plan makes sense: do not chase Google after selling it well, but be ready to buy back if the price gives a proper entry.
After the QQQA sale and small cash interest, cash is now roughly £246.34. My plan is still to use 30% of cash if Google falls to around $360. That means the first Google buy would be about £74. If it keeps falling after that, I can add slowly rather than using all the cash at once.
This is probably the most important thing for me to get right next. I do still want Google back in the portfolio, but I do not want to buy it just because I feel like I am missing out. The whole point of holding cash is to have patience, so I need to actually use that patience.

6. Main lesson from Week 11
The main lesson is that a small down week is not automatically a bad week. The account fell slightly, but it stayed close to the cost basis and the structure still makes sense. That is a lot better than earlier in the process when the account was under much more pressure and I had less flexibility.
The second lesson is that I should not rely too much on one theme. AI is still the main positive driver, but ASML and Symbotic showed that AI-related holdings can still fall sharply. Gold also did not protect the account this week. So the answer is still the same: keep the portfolio diversified, keep position sizes sensible, and do not let one idea dominate the account.

7. What I want to watch next week
Whether the account can stay close to the £2,000 cost-basis area.
Whether Google pulls back towards the $360 level where I want to start buying again.
Whether Meta, QQQA and VUAG keep supporting the core of the portfolio.
Whether ASML stabilises after its weaker week.
Whether Symbotic’s fall was just normal volatility or a sign that I need tighter risk control.
Whether gold starts to recover, because SGLN is still an important hedge position.
Whether Rheinmetall stops drifting lower and starts to base properly.
Whether Realty Income and NextEra improve if rate pressure calms down.

8. Action plan
Keep the cash available and do not rush into a trade just to feel active.
Use around 30% of cash, roughly £74, to re-enter Google only if it gets near $360.
If Google keeps falling and the thesis is still intact, add gradually rather than all at once.
Keep VUAG as a core holding.
Keep QQQA exposure, but be willing to trim again if it becomes too big after another strong move.
Watch Symbotic more closely after the sharp fall.
Do not average down Rheinmetall until there is clearer stabilisation.
Keep gold as a hedge, but do not expect it to work every week.

9. Overall conclusion
Overall, Week 11 was slightly disappointing but not worrying. The portfolio moved from roughly £1,986.69 to about £1,974.37, so it was down around 0.62%. That leaves the account just below the original cost basis, but still much healthier than it was during the weaker weeks earlier in the process.
The positive is that the account still has a clear structure. Meta, VUAG, QQQA and Berkshire are helping. The cash position gives me flexibility. The main negatives are that Symbotic is still volatile, ASML pulled back, Rheinmetall is still weak, and gold has not been helping as much as I would like.
My view is that the portfolio does not need a major rebuild. It needs patience, tighter monitoring on the weaker names, and discipline with the Google re-entry plan. I should let the stronger parts keep working, avoid chasing trades, and only use the cash when the price actually gives me the setup I am waiting for.