Portfolio Update: Recap of 2024
This article was originally posted on X as a post on January 1, 2025.
Here's how my portfolio performed in 2024:
+173%
Note: My portfolio is held in €, so the performance of each stock was boosted by the strengthening of the USD.
This is obviously an insane return — one I’m not expecting to see again anytime soon.
At the end of 2023, I recognized that a strong bull market was coming for small-cap stocks. I decided to act accordingly, concentrating my portfolio in my two highest-conviction stocks — the two companies I knew best in the entire market.
How I entered the year:
High Tide (HITI) — 64.77%
Hims & Hers (HIMS) — 35.23%
The strategy clearly paid off, but I remained willing to adapt it as market conditions change.
A summary of my year’s transactions:
• Q1: No transactions.
• Q2: Built a position in DLocal (DLO) at ~$7.50 per share.
• Q3: Sold my DLO position at a loss to buy as much Rocket Lab (RKLB) as possible. While I still believed in DLO, once I truly understood the space industry and Rocket Lab, it immediately became a high-conviction play for me (average cost per share: $4.82). Part of the proceeds from the DLO sale also went into buying the dip in HIMS at $16.30 per share.
• Q4: Initiated a small position in The Real Brokerage (REAX) after publishing my deep dive on it.
This is how I close the year:
HITI — 42.86% @ $1.86
RKLB — 25.36% @ $4.82
HIMS — 25.10% @ $10.07
REAX — 6.68% @ $5.17 (New position)
Again, I know I can’t expect another year like this, which is why I plan to increase the number of positions in my portfolio. I’ll remain a highly concentrated investor, but as my portfolio reaches a larger value, it’s in my best interest to slightly reduce its beta.
IMPORTANT UPDATE:
In Q1 2025, I sold REAX at a small loss to build a sizeable position in one of my newest high-conviction stocks, Nebius Group N. V. (NBIS). I also trimmed my HIMS position — locking in multibagger returns after its massive run-up — to start a fifth position.
Stay tuned for my quarterly update to learn the reasoning behind each move, or follow me on X for instant updates.
Thank you all for being here. Cheers to another great year!