Portfolio Update: July 2026
Jiax18 Jul 2026
Key point
What I did in July, in one breath: I cut most of the semiconductor book, moved the core into big tech with structured call positions, and ended the month holding more cash than at any point this year.
Every month I publish exactly what I hold, what I changed, and why, wins and losers both. This is my personal portfolio, not a model portfolio and not a recommendation. I share it so you can see how a real book gets managed through a real market, mistakes included. July was about one decision, and it was not a fun one to make.
| Theme | Weight | What it is |
|---|---|---|
| Big tech core | ~32% | AMZN, GOOGL, MSFT, META common |
| Big tech call structures | ~16% | Dated calls on GOOGL, MSFT and AMZN into 2026 and 2027 |
| Software | ~11% | NOW, APP |
| Crypto sleeve | ~10% | IBIT, ETH, PURR plus related options |
| Semiconductors | ~6% | SOXX, a Japan semis ETF and small legacy names |
| Special situations | ~2% | Tsugami China (HK listed) |
| Cash and legacy dust | ~23% | Dry powder, plus small positions I am cleaning up |
Semis went from my biggest theme to a six percent holdover, big tech became the engine, and cash became my single largest position. The rest of this report walks through the why, position by position.