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Week 12 Portfolio Summary

22 May 2026. The portfolio recovered slightly from Week 11, helped by ASML, Symbotic and Rheinmetall, while cash discipline and patience around Google remained important.

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22 May 2026 / Weekly Reviews

Week 12 Portfolio Summary

The portfolio recovered slightly from Week 11, helped by ASML, Symbotic and Rheinmetall, while cash discipline and patience around Google remained important.

1. Snapshot
Item
Figure / comment
Account value
£1,983.39
Week 11 value
£1,974.37
Weekly move
+£9.02 (+0.46%)
Starting cost basis
£1,999
Overall result
-£15.61 (-0.78%)
Cash
£246.34
Main trade
No new trade assumed; Google still not re-entered
Week 12 was a better week than Week 11, although it was not a huge breakout. The account moved from £1,974.37 to £1,983.39, so the portfolio recovered by £9.02. That is not a massive move, but it is still useful because it puts the account closer to the original cost basis again.
The main point for me is that the portfolio did not need Google in the account to stabilise. The cash position stayed useful, and the improvement came from the remaining holdings, especially ASML, Symbotic and Rheinmetall. At the same time, NextEra, gold and Meta held the account back, so it was not a clean all-round rally.
This summary uses the Week 11 account value as the baseline and updates the portfolio through the week-ending market moves. The important point is the direction of the account: a small recovery, with ASML, Symbotic and Rheinmetall doing most of the work.

2. What happened in the market
The wider market was mixed through the week. Early on, investors were still worried about inflation, oil prices and bond yields. That was not helpful for the rate-sensitive parts of the portfolio, especially NextEra and, to a lesser extent, the income-style holdings.
Later in the week, sentiment improved. US stocks recovered on Friday as investors became more positive about the possibility of progress in the Middle East conflict and the market also continued to be supported by strong corporate earnings. The S&P 500 also extended its winning run, which helped explain why the broad ETF side of the portfolio did not break down.
Europe was stronger, especially in technology and defence. ASML recovered sharply after a weak Week 11, and Rheinmetall also bounced after its recent reset. This mattered because those two names had been dragging the portfolio in earlier weeks, so their recovery helped offset weakness elsewhere.
Gold was weaker again. That was frustrating because SGLN is meant to be a hedge, but the backdrop of higher yields and a firmer dollar made it harder for gold to help the account this week.

3. What helped and what hurt
The biggest help came from ASML, Symbotic and Rheinmetall. ASML had a strong rebound after last week's weakness, which supports the idea that the semiconductor infrastructure theme is still alive even when it is volatile. Symbotic also bounced sharply, which was useful after being one of the weakest names in Week 11. Rheinmetall finally showed some recovery as well, which helped after several weeks where the defence position had been under pressure.
The broad ETF exposure was steady rather than exciting. VUAG was basically flat, while QQQA was slightly positive. That is fine, because these positions are meant to give structure and broad exposure rather than drive every weekly move.
The main drag was NextEra. It fell quite sharply and took more away from the account than any other position. I do not think that automatically breaks the long-term electricity and infrastructure thesis, but it does show again that NextEra is very sensitive to rates and utility-sector sentiment.
Gold and Meta also moved against the portfolio. Gold was down again, and Meta was slightly weaker in sterling terms because the share price was down and the dollar was also a small headwind. Airbnb was also slightly negative. Realty Income was one of the better defensive names this week and helped a little, but not enough to fully offset NextEra.

4. Position impact
Holding
Weekly move
£ impact
Comment
ASML
+7.1%
+£9.16
Strong rebound after last week’s weakness; AI chip-equipment sentiment improved.
Symbotic
+13.3%
+£8.22
Sharp bounce, but still one of the most volatile holdings.
Rheinmetall
+8.6%
+£7.45
Good recovery after the recent defence-stock reset.
Realty Income
+0.7%
+£0.98
Slightly positive; still mainly a rates-sensitive income holding.
QQQA
+0.5%
+£0.69
Nasdaq exposure held up after the Week 11 trim.
Berkshire Hathaway
Flat
£0.00
Did its job as a steadier holding.
VUAG
Flat
£0.00
Broad S&P 500 exposure stayed steady.
Airbnb
-1.2%
-£1.42
Slightly weaker, but not a major issue by itself.
Meta Platforms
-1.4%
-£3.39
Softer week in sterling terms after being a strong support in Week 11.
SGLN / Gold
-1.4%
-£4.38
Gold hedge dragged again as yields and dollar strength weighed.
NextEra Energy
-5.9%
-£8.17
Biggest weekly drag; rates and utility sentiment still matter here.

5. Position review
ASML
ASML was one of the best parts of the week. After being down last week, it recovered strongly and reminded me why it is still an important long-term AI infrastructure holding. I do not want to overreact to one good week, but this was a useful sign that the ASML weakness had not become a clear thesis break.
Symbotic
Symbotic bounced hard this week. That helped the account, but I need to be careful not to treat one strong move as proof that the risk has gone. It is still a high-volatility position, so the right approach is to keep monitoring it closely rather than suddenly getting too confident.
Rheinmetall
Rheinmetall finally had a better week after being one of the more frustrating holdings recently. The defence thesis still makes sense, and this recovery helps, but I still would not average down aggressively unless the stock continues to base and stabilise.
Meta Platforms
Meta was slightly weaker this week after being one of the better names in Week 11. I am not worried about the business because it is still one of the strongest quality-growth positions in the portfolio, but it is a reminder that even the better names will not help every week.
VUAG / S&P 500 ETF
VUAG was basically flat. I still see that as fine because the role of VUAG is not to create excitement every week. It gives the account broad market exposure and helps stop the portfolio from relying too much on individual stock picks.
QQQA / Nasdaq-100 ETF
QQQA was slightly positive even after the one-share trim last week. I still have Nasdaq exposure, but the trim was useful because it created cash. The position now feels more balanced because I am not fully dependent on big technology running every week.
SGLN / Gold
Gold was down again, which is annoying because SGLN is meant to help balance the account. I still think it has a role, but I should not expect it to protect the portfolio perfectly every week. This week it acted more like a drag than a hedge.
NextEra Energy
NextEra was the worst part of the week. I still like the long-term electricity demand and infrastructure angle, but the market clearly punished it this week. This is the position I need to watch most carefully in the defensive/rate-sensitive side of the account.
Realty Income
Realty Income was slightly positive, which was helpful because it showed that not all the rate-sensitive names were weak. It is still a slower holding, but it adds income-style balance and did not damage the account this week.
Airbnb
Airbnb was slightly negative. It is not a major concern by itself, but it is not one of the positions carrying the portfolio at the moment. For now I would keep monitoring it rather than forcing a decision.
Berkshire Hathaway
Berkshire was basically flat. That is fine because it is mainly there to add quality and stability. It is not meant to be the most exciting position in the account, and this week it did not cause any real problem.

6. Google cash plan
The Google position is still closed, and I still think that is fine for now. The portfolio has managed to recover slightly without it, which makes the cash position feel more intentional rather than just idle money.
Cash is still £246.34. The plan from Week 11 still makes sense: use around 30% of cash if Google falls towards the $360 area. That means the first buy would still be about £74. I do not want to buy Google just because I feel like I am missing out. I sold it well, so the discipline now is to wait for the price I actually wanted.
If Google does not come down, I do not need to force the trade. Holding cash is slightly frustrating when ASML, Symbotic and Rheinmetall bounce, but the whole point of cash is to give me the ability to act when the right opportunity appears.

7. Main lesson from Week 12
The main lesson this week is that a portfolio can improve even without a big headline move. A £9 gain is not exciting, but it matters because the account is now closer to breakeven and the stronger positions are starting to offset the weaker ones again.
The second lesson is that I should not judge the portfolio from one position alone. Symbotic and ASML helped a lot, but NextEra and gold hurt. That is exactly why the portfolio needs diversification. Different parts will work at different times, and the job is to keep the structure sensible rather than chase whichever holding moved the most recently.

8. What I want to watch next week
• Whether the account can get back above the £1,999 cost-basis area.
• Whether Google pulls back towards the $360 level or stays too high to chase.
• Whether ASML holds its recovery after a strong Week 12 rebound.
• Whether Symbotic keeps improving or gives back its bounce.
• Whether Rheinmetall is properly stabilising or only having a short-term relief rally.
• Whether NextEra continues to weaken or starts to recover after a poor week.
• Whether gold starts acting like a hedge again after several frustrating weeks.
• Whether QQQA and VUAG keep the core of the portfolio steady.

9. Action plan
• Do not chase trades just because the account had a slightly better week.
• Keep the Google cash plan the same: use about 30% of cash only if the price gets close to $360.
• Keep VUAG as a core long-term holding.
• Keep QQQA exposure, but avoid rebuilding it too quickly after the trim.
• Watch Symbotic closely after the bounce because it remains a high-volatility position.
• Watch NextEra carefully because it was the biggest drag this week.
• Do not average down Rheinmetall aggressively unless the price action keeps stabilising.
• Keep gold as a hedge, but be realistic that it will not work every week.

10. Overall conclusion
Overall, Week 12 was a small improvement. The account moved from £1,974.37 to £1,983.39, which means it recovered £9.02, or 0.46%. That still leaves the account slightly below the original £1,999 cost basis, but it is very close to breakeven again.
The positive is that the portfolio still has a clear structure. ASML, Symbotic and Rheinmetall helped the account recover this week, while the ETFs stayed steady and the cash position remains useful. The negative is that NextEra, gold and Meta held the account back, so I should not pretend the portfolio is fully fixed yet.
My view is that the portfolio does not need a major rebuild. It needs patience, proper monitoring of the weaker names, and discipline with the Google re-entry plan. I should let the stronger parts keep working, keep the cash available, and avoid making emotional trades just because one week was slightly better.