Portfolio Challenge, Week 11 🧐 His style: balanced. @Ewrron Our mysterious challenger from Poland has a current value 11.045 € and a return of 10.45%. Let's take a look into the inner workings ...

📈WRAP UP: EARNINGS REPORTS 📉 Key Takeaways 🟢Palantir Technologies (PLTR): 85% growth, 🔴shares -0.25% 🟢Duolingo (DUOL): $292M Q1 revenue, 🔴 shares -3.45.% 🟢Shopify (SHOP): $3.17B growth in revenue 🔴shares -2.76% 🟢Pfizer (PFE): $14.45B in revenue 🔴shares -1.06% 🟢AMD (AMD): $10.25B in revenue 🟢shares +9.05% 🟢Uber (UBER): $13.20 in revenue 🔴shares -1.90% 🟢Walt Disney (DIS): Q2 7% growth $25.17B revenue 🔴shares -0.45% 🔴Novo Nordisk (NVO): 10% decline in overall sales 🟢shares +0.09% 🟢ARM (ARM): Q4 $1.49B in revenue 🟢shares +0.86% 🟢Shell (SHEL): adjusted Q1 earnings under $7B 🟢shares +0.04% 🟢Mc Donald’s (MCD): +9% revenue +6% net income 🔴shares -2.39% 🟢Air BnB (ABNB): $2.68B in revenue 🟢shares +1.69% 🟢Monster (MNST): $2.35B in revenue 🟢shares +16.65% 🔴Toyota (TM): profits declined 21.5%🔴shares -0.54% 🟢Sony (SONY): record 2025 sales of ¥12,479.6B (+4% YoY)🟢shares +1.89% 🟢Enbridge (ENB): reported strong Q1 results 🔴shares -0.74% ❓ Which one surprised you the most?

🐋 Whale Alert: $赵总 👀 CA: 0xb7fe289e5f2502d628d17bd23c1bfed4d9174444 ⚡️Quick Buy⚡️: 📈 5m | 1h | 6h: 1176.60% | 1176.60% | 1176.60% 🎲 TXs/Vol: 1.03K/$149.66K 💡 MCP: $61.39K 💧 Liq: $24.48K 👥 Holders: 361 ✅ Honeypot / ✅ Verified / ✅ Locked/ ✅ Renounced TOP 10: 20.62% Insiders: 0.45% Phishing: 0.45% 🔥Trending Group: #CryptoTrading# #MoonShot#

THE SCHWAB US DIVIDEND ETF $SCHD Here is every stock held by the Schwab US Dividend Equity ETF $SCHD and how much of the fund it represents Texas Instruments $TXN - 6.08% Qualcomm $QCOM - 5.49% UnitedHealth Group $UNH - 5.46% Coca-Cola $KO - 4.12% Chevron $CVX - 4.01% Merck & Co $MRK - 3.77% ConocoPhillips $COP - 3.75% Verizon $VZ - 3.67% PepsiCo $PEP - 3.62% Procter & Gamble $PG - 3.60% Amgen $AMGN - 3.54% Home Depot $HD - 3.29% Altria Group $MO - 3.13% Abbott Laboratories $ABT - 3.00% Bristol Myers Squibb $BMY - 2.97% Lockheed Martin $LMT - 2.71% Accenture $ACN - 2.59% Blackstone $BX - 2.36% Comcast $CMCSA - 2.32% Automatic Data Processing $ADP - 2.16% SLB $SLB - 2.14% EOG Resources $EOG - 1.90% United Parcel Service $UPS - 1.87% ONEOK $OKE - 1.47% Ford Motor $F - 1.46% Target $TGT - 1.43% Devon Energy $DVN - 1.40% Fastenal $FAST - 1.30% Fifth Third Bancorp $FITB - 1.10% Archer Daniels Midland $ADM - 1.01% Kimberly-Clark $KMB - 0.83% Paychex $PAYX - 0.74% Hershey $HSY - 0.73% Ares Management $ARES - 0.68% Cincinnati Financial $CINF - 0.66% Regions Financial $RF - 0.60% Darden Restaurants $DRI - 0.58% T. Rowe Price $TROW - 0.58% Principal Financial Group $PFG - 0.51% Snap-on $SNA - 0.49% General Mills $GIS - 0.45% Broadridge Financial BR - 0.43% East West Bancorp EWBC - 0.43% Watsco WSO - 0.37% APA Corp APA - 0.34% Fidelity National Financial FNF - 0.31% Best Buy BBY - 0.28% HF Sinclair DINO - 0.28% Skyworks Solutions SWKS - 0.26% American Financial Group AFG - 0.24% Old Republic International ORI - 0.23% Booz Allen Hamilton BAH - 0.23% Columbia Banking System COLB - 0.22% Autoliv ALV - 0.21% Nexstar Media Group NXST - 0.14% Erie Indemnity ERIE - 0.14% Murphy Oil MUR - 0.13% Bank OZK OZK - 0.13% MSC Industrial MSM - 0.13% Macy's M - 0.13% Moelis MC - 0.12% Vail Resorts MTN - 0.11% Federated Hermes FHI - 0.11% Korn Ferry KFY - 0.09% Penske Automotive PAG - 0.08% Western Union WU - 0.07% Artisan Partners APAM - 0.07% CVB Financial CVBF - 0.06% Robert Half RHI - 0.06% Banner Corp BANR - 0.06% Cohen & Steers CNS - 0.05% OFG Bancorp OFG - 0.05% National Bank Holdings NBHC - 0.05% City Holding$CHCO - 0.05% Federal Agricultural Mortgage AGM - 0.04% S&T Bancorp STBA - 0.04% Inter Parfums IPAR - 0.04% German American Bancorp GABC - 0.04% Flowers Foods FLO - 0.04% Buckle BKE - 0.04% Lakeland Financial LKFN - 0.04% 1st Source Corp SRCE - 0.03% Clearway Energy CWEN - 0.03% Wendy's WEN - 0.03% Insperity NSP - 0.03% Preferred Bank PFBC - 0.03% CNA Financial CNA - 0.02% Central Pacific Financial CPF - 0.02% Virtus Investment Partners VRTS - 0.02% Hanmi Financial HAFC - 0.02% First Financial Corp THFF - 0.02% Orrstown Financial Services ORRF - 0.02% Independent Bank Corp IBCP - 0.02% Capital City Bank CCBG - 0.02% Amerisafe AMSF - 0.01% Oxford Industries OXM - 0.01% Ennis EBF - 0.01% Ethan Allen Interiors ETD - 0.01%

I sat down with Hut 8 CEO @ashergenoot to discuss how he built a $12 billion company by embracing AI data centers and bitcoin mining. This conversation is packed with unique, nuanced insights into an industry that everyone is obsessed with right now. Enjoy! YouTube: Apple: Spotify: TIMESTAMPS: 0:00 - Intro 0:45 - Bitcoin mining to AI: the transition 3:09 - Data centers & community pushback 8:52 - Co-location & energy campuses 11:42 - Mega sites vs. smaller urban campuses 13:08 - Hardware innovation inside the data center 17:15 - How Hut 8 lands billion-dollar contracts 20:01 - The River Bend financing structure 24:19 - Build vs. acquire strategy 25:18 - Bottlenecks slowing AI buildout 27:36 - What keeps Asher up at night 30:40 - American Bitcoin update $HUT

Berkshire Hathaway underperformed the S&P 500 by more than 30-percentage points over the last year! Berkshire's only annual performance that was worse was in 1999 -- during the Internet mania. Today, though, Berkshire owns Apple and Google, unlike in 1999 when it didn't own any tech stocks. So, what else could explain the company's declining performance? More than a decade ago, researchers at AQR ran a series of regression studies across 30 years of Berkshire's public stock investments to discover which factors drove Buffett's outstanding investment results. They discovered -- to no one's surprise -- that Buffett buys ultra-high quality, large-cap, low-volatility stocks that are extremely cheap. But that's not all they discovered. They also disaggregated Buffett’s portfolio into two distinct sleeves and then ran the same the regression studies on each separately. The public sleeve is the portfolio of publicly traded stocks held inside Berkshire’s insurance subsidiaries — disclosed quarterly in SEC Form 13F filings. This is what most financial press coverage focuses on. The Coca-Cola, the American Express, the Apple, the Bank of America. Over the full sample it averaged about 35% of Berkshire’s total capital. The private sleeve is the portfolio of wholly-owned operating businesses — See’s Candies, Nebraska Furniture Mart, GEICO after the 1995 full acquisition, BNSF after 2010, Berkshire Hathaway Energy, Dairy Queen, NetJets, Precision Castparts, the whole roster of consolidated subsidiaries. Over the full sample the private portion grew from under 20% of Berkshire to more than 78% today. Berkshire was once an insurance company with an equity portfolio. Today it’s an insurance company owned by a conglomerate. And here's why that matters. The public sleeve — the portfolio of stocks Buffett bought fractionally and held — earned an average excess return of 12.0% per year at 16.2% volatility. Sharpe ratio: 0.74. The private sleeve — the portfolio of whole companies Buffett bought outright — earned an average excess return of 9.3% per year at 20.6% volatility. Sharpe ratio: 0.45. The publicly traded pieces of companies Buffett owned delivered materially better returns, especially when compared against the risk taken. The private sleeve’s Sharpe ratio of 0.45 is, remarkably, lower (worse) than the broad market’s 0.49 over the same period. In other words, when Buffett bought pieces of great public companies, he outperformed. When Buffett bought whole private companies, he did not. The private sleeve’s drag on Berkshire’s overall performance is meaningful. That drag was smaller in the early years, when the private portfolio was only 20% of the business. As the private sleeve has grown to 78% of Berkshire’s capital, the drag has grown proportionally. The declining Sharpe ratio of Berkshire over time — which every long-term shareholder has felt, even if they could not name it — comes primarily from the growing share of capital trapped inside whole-company acquisitions that underperform the public-market alternatives Buffett could have bought instead. Learn more about Warren's Mistakes and how to learn these lessons to improve your own investing in my new book.