Prices went down during the week but recovered towards the end of the week. My Invest account thus stayed level but the ISA had lost over £1k this week.
Topped up on GE Vernova GEV, Rosebank ROSE and Solaris Energy Infrastructure SEI in my Invest account and topped up on Corning GLW in my ISA. I also bought a small amount of new shares of Qualcom QCOM (£250) and Kioxia KI5 (£300).
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| Portfolio performance over last 12 months comparison |
It seems I have still beaten the market though if you believe Snowball Analytics.
My plan
My plan is to basically hold and wait. I am waiting for gold and silver to start climbing and also rare earths and copper. Korea and Samsung/Hynix has almost recovered from the July dip and I have also dipped my toe into Kioxia KI5 (Chinese memory maker) too.
On September 29, 2026, Applied Materials Inc (NASDAQ: AMAT) announced a strategic collaboration with KIOXIA Corporation at its EPIC Center in Silicon Valley to accelerate innovation in next-generation memory technologies. This partnership focuses on pioneering advanced memory cell structures, multi-chip stacking, and novel engineering materials designed to enhance memory density and performance, particularly for artificial intelligence applications.
The performance of both my ISA and Invest account has been disappointing over the last 6 months (12%) compared to the S&P 500 and even SWDA MSCI Core World. This is mainly due to my miner holdings which are acting as a hedge and are going in the wrong direction.
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| Snowball Analytics - 6 months growth report |
The 6 month performance chart shows approx. similar performance to the S&P.
Year-to-date growth has beaten both the S&P and SWDA however (so far)...
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| Snowball Analytics - YTD Growth report |
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| Snowball Analytics - YTD Performance report |
Here is a map of %age profit of my holdings over the last 6 months
The world ETFs have shown the most profit but they also had the highest deposits.
I hope to sell my smaller holdings within my Invest account at appropriate times and simplify the portfolio over the next 6 months.
Here is the ranked performance of my current holdings...
This has shown that my Tech 'picks-and-shovels' play seems to be working (I include HP and Lenovo in this class as they are components/tools required for server centers).
On a cost basis, this heat map shows my actual holdings performance ..
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| 6 month holdings performance |
Most of the red losers are miners. Bond interest rates are very high at the moment and so should gold be too (but it is not). Rare Earths are in short supply as well as copper and other mineral commodities. Defence stocks should also pick up soon too.
My simple take for copper:
- Best single name: FCX
- Best diversified holding: COPX
My rationale has been to buy index ETFs (world, value, etc.), picks and shovels IT stocks (memory, chips, infrastructure, copper) and hedge with gold, miners and defence stocks.
Rates are very high at the moment and so should come down from now on and thus help gold and miners.
Simple rule of thumb:
- Rates down + yields down + war/risk up = bullish gold and especially bullish miners
- Rates up + yields up + strong growth/risk-on = bearish to neutral gold, miners hit harder
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| Cyclical copper - if it gets cheaper I may buy more! |
Finviz 6-month ETF performance heat map
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| Tech, Semiconductors and BioTech (BBH) or just ACWI are best performers |
P.S. If you haven't seen stockanalysis.com, it's quick and free and very good for finding stock winners inc. ETFs!
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| Snowball Analytics report |
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