Reports January 5, 2025

Monthly report: December 2024

A short December update covering portfolio dynamics, key trades and YTD return.

Markets ended the year on a positive note: the Nasdaq held its multi-year highs, and the leveraged ETFs in the portfolio (TQQQ and QLD) rode that rally. Most of the move came from existing positions rather than from new entries.

Key actions

  • Continued reduction of legacy small-cap and Hong Kong positions; mostly trimmed during liquidity windows.
  • Added to QLD on dips — the moderate-leverage Nasdaq ETF stays the second-largest position.
  • Rebalancing was minimal: with TQQQ over 75% of the book, weight changes are dominated by price movement.

Outlook

Going into January I'm watching for any pullback to 5–10% to add to QLD/TQQQ; otherwise the plan is to keep collecting dividends and re-deploying them. No major new ideas this month.