Noteworthy Portfolios: June 2026

This is an unusually ambitious mix: managed futures and commodities sit alongside equities, bonds, precious metals, Bitcoin and leveraged exposure. The backtest's 24.6% annual return at just 12.2% volatility is striking, but the 13% Bitcoin allocation and leveraged ETFs mean the apparent diversification should not be mistaken for low risk. It is a thoughtful satellite strategy for investors comfortable with complex exposures and sharp changes in leadership.

Mix20 takes diversification literally, assigning 5% to each of 20 equity, bond, gold and Bitcoin holdings. That equal-weight structure avoids dependence on one market view and produced surprisingly restrained volatility, although it also creates a portfolio that may be harder to monitor and could contain overlapping exposures. Its relatively short history makes the smooth results interesting rather than conclusive.

With 80% concentrated in Alphabet and Dell and the balance in NVIDIA, this is closer to a focused technology thesis than a conventional diversified portfolio. The long backtest is useful, but the 44.5% maximum drawdown shows how much conviction would be required to stay invested through a sector sell-off or a change in AI spending. It belongs in the speculative satellite category, not as a replacement for a broad equity core.

Rather than betting on one company, this portfolio spreads its AI thesis across the ecosystem: AI applications, semiconductors, data centres and nuclear power. That makes it a cleaner thematic package than a single-stock wager, but the 40% AI allocation and 30% semiconductor weighting still leave it exposed to crowded valuations and a common technology sell-off. Its 3.4-year record is compelling, though it covers a particularly favourable period for the theme and deserves cautious interpretation.