Why I'm Open-Sourcing My Portfolio
What active thesis investing actually looks like — and why I'll publish every bet I make.
·4 min read
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The 2030 Thesis
I rebuilt my entire portfolio in one hour on February 26, 2026.
Every position, every thesis, every return — nothing hidden.
Underperforming by 2.3%
Portfolio
+4.6%
vs
vs
S&P 500
+6.9%
13 positions0.4% cash
No fund. No paid community. No gate. This is my real money, open-sourced — because the best way to test a thesis is to let everyone watch.
Five Pillars
I believe AI is restructuring what power, value, and wealth mean. This portfolio is that thesis in action.
AI is real and accelerating
Not hype. Not a bubble. The market is still pricing it through the old lens.
Energy is the binding constraint
Data center power demand: 62GW (2025) to 134GW (2030). Nuclear is the only answer at scale.
Infrastructure beats software
SaaS and knowledge-work companies face structural decline. Physical-layer businesses survive.
The old indexes are broken
VOO/QQQ carry 34-41% Mag 7 concentration and 15-20% in AI-disrupted sectors. Passive is not safe.
Cash is a position
Patience is a weapon during structural transitions. Deploy with conviction, not urgency.
What Changed
In eight months I went from a passive index investor to rebuilding everything around a single thesis. Here's every shift and why.
In December 2025, I killed my own SaaS product because AI made it obsolete. Then I looked at my portfolio and realized I was still holding VOO and QQQ — which meant I owned hundreds of SaaS companies through indexes. I'd seen firsthand how fast AI destroys software businesses, and I was betting my savings on them surviving. That's the moment the thesis clicked.
7 positions, mostly indexes→13 positions with a thesis behind each one
VOO and QQQ gave me market exposure. But 34-41% of those indexes are Mag 7 stocks, and 15-20% are in sectors AI is about to restructure. Passive stopped being safe.
"Do nothing" as a strategy→Active conviction with public accountability
Doing nothing works in a normal market. This isn't a normal market. AI is repricing entire industries in real time. Sitting still is now the riskiest move.
Broad diversification→Concentrated bets on the AI supply chain
I went from owning 500+ companies through indexes to owning 9 companies I can explain in one sentence each. If I can't articulate why I own it, I shouldn't own it.
No energy exposure→25% in nuclear and power generation
Every AI model needs electricity. Data center power demand is projected to double by 2030. The companies that generate and fuel that power have pricing leverage that software companies don't.
Software and services tilt→Physical infrastructure and real assets
SaaS margins look great until AI can replicate the product. Data centers, uranium mines, and power plants can't be copied with a prompt. I moved to things that are hard to build.
Current Holdings
Updated 6/10/2026USD TFSA
| Ticker | Company | Thesis Tag | Allocation | Return |
|---|---|---|---|---|
| Silicon Layer | ||||
| GOOGL | Alphabet | AI application + cloud + distribution | 16.4% | +18.9% |
| AVGO | Broadcom | AI networking / custom silicon | 11.7% | +25.5% |
| TSM | TSMC | Semiconductor manufacturing bottleneck | 6.1% | +14.4% |
| Energy Layer | ||||
| CEG | Constellation Energy | Nuclear energy for AI compute | 10.5% | -21.3% |
| CCJ | Cameco | Uranium / nuclear fuel supply | 4.6% | -12.1% |
| VST | Vistra | Energy diversification | 9.9% | -14.6% |
| Physical Infrastructure | ||||
| BN | Brookfield Corp | Infrastructure / renewables / real assets | 13.1% | +9.0% |
| EQIX | Equinix | Data center physical layer | 6.6% | +11.9% |
| Cash Fortress | ||||
| BRK.B | Berkshire Hathaway | Cash fortress / physical assets | 21.0% | -0.0% |
| Cash | Cash (USD) | Dry powder | 0.4% | — |
Silicon Layer
GOOGL
16.4%Alphabet
AI application + cloud + distribution
Return+18.9%
AVGO
11.7%Broadcom
AI networking / custom silicon
Return+25.5%
TSM
6.1%TSMC
Semiconductor manufacturing bottleneck
Return+14.4%
Energy Layer
CEG
10.5%Constellation Energy
Nuclear energy for AI compute
Return-21.3%
CCJ
4.6%Cameco
Uranium / nuclear fuel supply
Return-12.1%
VST
9.9%Vistra
Energy diversification
Return-14.6%
Physical Infrastructure
BN
13.1%Brookfield Corp
Infrastructure / renewables / real assets
Return+9.0%
EQIX
6.6%Equinix
Data center physical layer
Return+11.9%
Cash Fortress
BRK.B
21.0%Berkshire Hathaway
Cash fortress / physical assets
Return-0.0%
Cash
0.4%Cash (USD)
Dry powder
Return—
CAD FHSA
| Ticker | Company | Thesis Tag | Allocation | Return |
|---|---|---|---|---|
| Silicon Layer | ||||
| GOOG CDR | Alphabet (CDR) | AI application (CAD hedged) | 20.0% | +17.4% |
| Energy Layer | ||||
| CCO | Cameco (TSX) | Nuclear fuel (TSX) | 12.9% | -10.8% |
| Physical Infrastructure | ||||
| BN.TO | Brookfield Corp | Infrastructure | 16.8% | +1.7% |
| Cash Fortress | ||||
| BRK CDR | Berkshire Hathaway (CDR) | Cash fortress (CAD hedged) | 49.3% | -4.7% |
| Cash | Cash (CAD) | Dry powder | 1.0% | — |
Silicon Layer
GOOG CDR
20.0%Alphabet (CDR)
AI application (CAD hedged)
Return+17.4%
Energy Layer
CCO
12.9%Cameco (TSX)
Nuclear fuel (TSX)
Return-10.8%
Physical Infrastructure
BN.TO
16.8%Brookfield Corp
Infrastructure
Return+1.7%
Cash Fortress
BRK CDR
49.3%Berkshire Hathaway (CDR)
Cash fortress (CAD hedged)
Return-4.7%
Cash
1.0%Cash (CAD)
Dry powder
Return—
The Pivot
I sold six positions and bought nine new ones in one hour. At some point, you have to put the money where the thesis is.
Feb 26, 2026 · 11am
Feb 26, 2026 · 11am–12pm
USD TFSA
Before — 7 positions
VOO
31%
BRK-B
28%
QQQ
26%
BN
9%
SCHD
4%
UNH
2%
BIL
1%
After — 10 positions
Silicon Layer
GOOGL / AVGO / TSM
34%
Energy Layer
CEG / CCJ / VST
25%
Physical Infrastructure
BN / EQIX
20%
Cash Fortress
BRK.B / Cash
21%
CAD FHSA
Before — 4 positions
BRK CDR
65%
VFV
20%
XQQ
15%
Cash
0%
After — 5 positions
Silicon Layer
GOOG CDR
20%
Energy Layer
CCO
13%
Physical Infrastructure
BN.TO
17%
Cash Fortress
BRK CDR / Cash
50%
Performance
USD TFSA vs S&P 500
Loading chart data...
Thesis Portfolio
S&P 500 (SPY)
Note: This is an active thesis, not a settled strategy. I'll share updates as data confirms or challenges the thesis.
If the thesis is wrong, the chart will show it. That's the point of tracking in public.
Signal Log
Data points that confirm, challenge, or inform the thesis.
2026-02-26NeutralPillar 1
Portfolio reconstructed around AI infrastructure thesis
Sold VOO, QQQ, SCHD, UNH, BIL. Bought GOOGL, AVGO, TSM, CEG, CCJ, VST, EQIX. Kept BRK.B and BN. Rebuilt both USD TFSA and CAD FHSA in one hour.
2026-02-25ConfirmsPillar 2
Data center power demand projections: 62GW to 134GW by 2030
Multiple sources now projecting data center electricity demand roughly doubling by 2030. Nuclear is the only clean baseload source that can scale. Confirms energy thesis.
2026-02-20ConfirmsPillar 5
Berkshire Hathaway cash pile exceeds $300B
Buffett continues building cash position, signaling patience and waiting for better deployment opportunities. Validates cash-as-a-position thesis.
2026-02-15ConfirmsPillar 1
Alphabet Q4 2025: Cloud + AI revenue acceleration
Google Cloud crossed $12B quarterly run rate with AI workloads driving growth. Search revenue resilient despite AI disruption fears. Model quality improving faster than market expects.
Follow the Thesis
I share updates when I add a position, log a new signal, or publish annual results.
Signal log updates
New position alerts
Quarterly thesis review
No spam. Unsubscribe anytime. ~4-6 emails per year.
Radical transparency means you see exactly what I own, what I paid, and how it's performing. I'm not running a fund, selling a course, or gating this behind a subscription. This is my real portfolio, fully open.
Disclaimer: This is not financial advice. I'm showing what I do, not telling you what to do. This is a concentrated, actively managed portfolio with higher risk than broad index investing. Past performance doesn't guarantee future results. Do your own research. I may buy or sell any of these positions at any time without notice.
