Portfolio Allocation Update – May 2026
Inside the Holdings Behind Dick Capital’s +105.82% YTD Returns
Dick Capital’s seven-figure trading portfolio is now up +105.82% YTD. In comparison, the SPY is up +7.97% and the QQQ is up +15.97%.
What’s most remarkable is that we’ve held no fewer than 30 positions in our trading portfolio at any given point this year. We’ve proven that diversification, paired with consistent execution and positioning in the right sectors at the right time, delivers. You don’t need to gamble or YOLO on a couple of names to generate outsized returns in the market. A disciplined, diversified approach executed well gets you there.
One of our favorite investors, legend Paul Tudor Jones, recently appeared on a podcast we regularly listen to and mentioned that real money is made by identifying the right theme at the right time and riding it for as long as the cycle remains intact. Even if a theme appears expensive at times, if it is the right theme, you must continue riding it until the cycle is truly over in order to maximize returns.
We wanted to highlight two articles we wrote earlier this year that we’re particularly proud of, and that truly capture the power of identifying the right trend early and riding it aggressively. The amount of alpha contained within these two articles alone is, frankly, historic.
Article 1, published on January 6, 2026, explored the advanced packaging theme within the semiconductor industry. We even removed the paywall from the article a month later as we felt bad for Michael Burry’s subscribers. Hopefully they listened. The article covered 10 companies, and here’s how they’ve performed since:
TSM +26%
LPKFF +352%
ACMR +28%
INTC +212%
ASX +96%
AMKR +50%
BESIY +65%
KLIC +92%
CAMT +54%
ONTO +52%
Equally weighted, that’s a +102.7% return across 10 tickers from one single article in just 4 months. This article should go into the Substack Hall of Fame.
Article 2, published on February 25, 2026, covered power semiconductors. The article profiled 14 companies, and here’s how they’ve performed since:
STM +72%
IFX.SG +33%
ON +51%
WOLF +128%
TYO: 6963 +41%
TXN +35%
POWI +49%
VICR +30%
MPWR +30%
ADI +16%
AIXA.DE +106%
AEHR +134%
TER +5%
ACLS +104%
Equally weighted, that’s a +59.57% return across 14 tickers from one single article in just over 3 months. There’s a reason why we say to subscribe to Dick Capital for unlimited, unparalleled alpha. No one on Substack does it better.
These two articles serve as the gold standard examples of just how much it pays to identify the right sector early, something we’ve done time and time again. Speaking of being early, we find it funny how everyone keeps taking credit for NBIS when we were the first ones on the internet beating the drums on it back on November 22, 2024.
Another major theme we identified early and positioned ourselves heavily in was metals and mining last year. We remain overweight the sector and continue to be extremely bullish on its long-term outlook. At Dick Capital, we constantly monitor where capital is flowing and which themes the market is beginning to gravitate towards, allowing us to consistently position ourselves ahead of the crowd.
The remainder of this post will highlight the changes we’ve made across our trading and long-term portfolios since the last update, along with a comprehensive look at our current holdings and their respective weightings.
What We’ve Sold
CIFR +130%
POET +108%
XMTR +81%
AMKR +67%
MTRN +39%
ACMR +29% (closed remaining half)
MRVL +26%
COHR +21%
SYNA +12% (re-entered again at $92.29)
FSLR +12%
AOSL +9%
FRSH +5%