Welcome back to another edition of the Smart Wealth Newsletter, where our family shares what we are seeing across the stock market, real estate, and long-term wealth-building strategies. We believe investing is a journey best approached with patience, discipline, and education. Every week, we break down what is happening in the markets, explain why it matters, and share the holdings and strategies our family continues to believe in for the long term.

This newsletter is written by Chris McLaughlin alongside his children, Trip and Frankie, as part of our family’s commitment to learning, investing, and building wealth together. Trip attends the Freeman School of Business at Tulane University, where he studies markets, business strategy, and investing. Frankie will be attending Georgetown University’s McDonough School of Business this fall, continuing our family’s focus on finance, entrepreneurship, and long-term investing.

We do not believe in chasing headlines or reacting emotionally to short-term volatility. Instead, we focus on quality companies, long-term ownership, disciplined portfolio construction, and real estate strategies that build equity over time.

The first week of May delivered another reminder that financial markets can turn quickly when investor sentiment improves. After several months of geopolitical anxiety, inflation concerns, and elevated interest rates, Wall Street continued its strong rebound into Friday, May 1st, as buyers stepped back into risk assets. The rally was not simply driven by momentum traders; rather, it reflected improving corporate earnings, resilient consumer spending, cooling bond yields, and growing confidence that the economy remains stronger than many feared.

Friday’s trading session highlighted how quickly sentiment can change when investors feel uncertainty begins to stabilize. Markets entered May with momentum already building from a strong April, and investors responded positively to another wave of earnings reports that generally exceeded expectations. Technology stocks continued to lead the way, while large-cap consumer names, financials, and industrial companies participated in the advance.

On Friday, May 1st, the Dow Jones Industrial Average closed at 49,499.27, down modestly by 152.87 points, or 0.31%. The S&P 500 finished at 7,230.12, gaining 21.11 points, or 0.29%, while the Nasdaq Composite closed at 25,114.44, climbing 222.13 points, or 0.89%. These closing numbers reflected a broad continuation of the rally that defined much of April, with the Nasdaq again leading due to strength in artificial intelligence, semiconductors, and large-cap technology companies. (kiplinger.com)

While the Dow lagged slightly compared to the Nasdaq and S&P 500, the broader market tone remained constructive. The market’s rebound over the past several weeks has been notable because it came despite ongoing concerns surrounding inflation, geopolitical instability, and uncertainty about future Federal Reserve decisions.

One of the biggest drivers of market sentiment continues to be corporate earnings. Investors entered earnings season with cautious expectations, worried that slowing economic growth and elevated borrowing costs would hurt profits. Instead, many companies delivered stronger-than-expected quarterly results. Technology leaders, software companies, and select consumer brands demonstrated that demand remains healthy despite higher financing costs.

Apple’s earnings served as a major catalyst during the week, helping lift sentiment across the broader technology sector. Strong revenue growth, improved guidance, and continued consumer demand gave investors confidence that earnings growth remains intact. Large-cap technology stocks continue to play an outsized role in the broader market because of their weighting inside the S&P 500 and Nasdaq.

Beyond earnings, Treasury yields also helped support the rally. Investors closely watched the 10-year Treasury yield during the week, particularly as concerns about inflation and oil prices remained elevated. A stabilization in yields gave equity investors more confidence that borrowing costs may not rise aggressively from current levels.

Interest rates remain central to nearly every conversation about the financial markets. Mortgage rates, credit card borrowing, corporate lending, and consumer spending all tie directly back to Treasury yields and Federal Reserve policy expectations. When yields move lower or stabilize, growth stocks tend to outperform because future earnings become more valuable in discounted cash flow models.

However, investors are still watching inflation closely, particularly because of what is happening globally in energy markets.

One of the most important macroeconomic risks facing markets remains the Strait of Hormuz, a narrow shipping channel located between the Persian Gulf and the Gulf of Oman. Roughly one-fifth of the world’s oil supply passes through this corridor, making it one of the most strategically important shipping routes on the planet.

Geopolitical instability involving Iran and broader Middle East tensions continue to create uncertainty around oil supply. Markets are highly sensitive to any disruption in the Strait of Hormuz because even temporary closures or military conflict can significantly increase energy prices.

Oil prices influence nearly every sector of the economy. Higher oil prices increase transportation costs, shipping expenses, airline fuel costs, manufacturing expenses, and household energy bills. When oil spikes rapidly, inflation often follows.

Investors understand that a sustained oil shock could force central banks to remain restrictive for longer. If crude oil climbs sharply and remains elevated, inflation may reaccelerate, causing the Federal Reserve to delay rate cuts or even maintain higher rates for an extended period.

Interestingly, despite concerns about the Strait of Hormuz, oil prices eased somewhat by Friday. Investors interpreted ongoing diplomatic discussions and reduced immediate escalation risks as signs that supply disruptions may remain limited for now. This decline in oil prices helped support equities and allowed Treasury yields to move lower. (reuters.com)

The market rebound seen over the last several weeks has been impressive not simply because prices moved higher, but because leadership broadened.

Earlier in the year, gains were concentrated almost entirely inside a handful of mega-cap technology stocks. Recently, however, industrials, select financial companies, consumer discretionary names, and even healthcare have participated in the rally.

Broadening market participation is often viewed as a healthy sign because it suggests institutional investors are becoming more comfortable allocating capital across sectors rather than relying on a narrow group of winners.

Investor sentiment also improved because economic data remains surprisingly resilient. Employment data continues to show labor market strength, consumer spending has not collapsed, and manufacturing activity appears to be stabilizing.

The combination of resilient economic growth, moderating yields, strong earnings, and stable consumer demand has created an environment where investors feel more comfortable taking risk.

However, this rally should still be viewed with discipline.

Markets rarely move in straight lines. Pullbacks remain normal, especially after strong runs higher. Investors should avoid emotional buying during periods of excitement and instead focus on quality companies with durable competitive advantages.

Looking ahead, several key themes will likely drive markets during the coming weeks:

For long-term investors, the most important takeaway is that the market continues to reward patience.

Despite headlines, geopolitical fear, and inflation concerns, strong businesses continue finding ways to grow. The market rebound into May demonstrates once again that long-term ownership often beats emotional trading.

Few companies represent long-term consistency quite like Costco Wholesale (COST). Costco has become one of the strongest retail businesses in the world by building a business model centered around membership loyalty, disciplined pricing, and operational efficiency.

Costco closed Friday near all-time highs as investors continue rewarding companies capable of producing reliable earnings growth regardless of broader economic conditions.

For our family, Costco remains one of those rare businesses we feel comfortable owning for decades rather than months. Chris, Trip, and Frankie all own Costco because we believe the company represents a powerful combination of stability, pricing power, and consumer loyalty.

Costco’s business model is unique because it earns a large portion of its profits through memberships rather than simply product markups. Customers pay annual fees to shop at Costco warehouses, giving the company predictable recurring revenue.

This recurring membership model creates stability during economic downturns. Even when consumer spending slows, Costco continues collecting membership fees. Renewal rates remain extremely high because shoppers view Costco as a place to save money.

That loyalty matters.

During periods of inflation, consumers often shift toward value-oriented retailers. Costco thrives during those periods because families search for bulk discounts and lower unit pricing.

Costco’s ability to maintain strong traffic regardless of economic conditions makes it especially attractive for long-term investors.

Unlike many retailers, Costco avoids aggressive marketing campaigns and excessive advertising expenses. The company relies heavily on word-of-mouth growth and customer loyalty.

Costco also limits product selection inside stores, allowing it to negotiate better pricing with suppliers and simplify logistics.

One of Costco’s most important strengths is inventory discipline. The company rarely overextends itself with excessive product lines or unnecessary trends. Instead, Costco focuses on high-volume categories that customers purchase repeatedly.

This creates operational efficiency and helps maintain strong margins.

Another major advantage is Costco’s private-label brand, Kirkland Signature.

Kirkland has become one of the most trusted private-label brands in America. Customers often view Kirkland products as equal to or better than premium national brands.

Private-label products matter because they improve profitability while increasing customer loyalty.

Costco’s balance sheet also remains exceptionally strong. The company generates enormous cash flow, carries manageable debt, and continues expanding globally.

International expansion remains a major opportunity.

Costco has grown successfully across Canada, Asia, and parts of Europe. Each new warehouse typically generates strong traffic because Costco’s model translates well internationally.

For long-term investors, scalability matters.

A company that can replicate its success globally often deserves premium valuation multiples.

Costco has also benefited from changing consumer habits. Membership shopping creates a psychological commitment. When consumers pay an annual fee, they feel incentivized to maximize that membership.

This encourages repeat shopping behavior.

Costco’s customer demographics also matter. Many Costco shoppers have above-average household income and remain financially resilient during economic slowdowns.

This reduces risk during recessions.

From an investment perspective, Costco has historically traded at a premium valuation compared to other retailers.

Some investors hesitate because the stock often appears expensive relative to earnings.

However, premium businesses frequently deserve premium valuations.

Costco’s predictable cash flow, recurring membership revenue, strong balance sheet, and pricing power justify investor confidence.

Chris owns Costco because he believes it represents one of the safest long-term compounders in the market. Costco benefits from steady consumer demand and strong management execution.

Trip likes Costco because he sees long-term brand loyalty and pricing discipline as major competitive advantages. He believes Costco remains one of the few retailers capable of maintaining traffic during nearly every economic cycle.

Frankie owns Costco because he believes the company fits a long-term portfolio focused on durable businesses with strong recurring revenue. Costco’s warehouse model, private-label growth, and global expansion create long-term upside.

Costco also tends to perform well during inflationary environments because consumers become more price sensitive.

When families look to stretch budgets, bulk purchasing becomes attractive.

This creates a natural hedge against economic uncertainty.

For investors building wealth over time, Costco represents something important: reliability.

Markets change. Trends evolve. But businesses that solve real consumer problems tend to endure.

Costco continues proving why it remains one of the strongest long-term retail investments available.

A 1031 exchange remains one of the most powerful wealth-building tools available to real estate investors.

Named after Section 1031 of the Internal Revenue Code, this strategy allows investors to defer capital gains taxes when selling an investment property and reinvesting proceeds into another qualifying property.

Many investors underestimate how valuable tax deferral can become over decades.

Instead of losing a large percentage of profits to taxes every time a property is sold, investors can roll equity forward repeatedly.

This creates compounding growth.

One of the biggest mistakes investors make is waiting too long to begin planning a 1031 exchange.

A successful exchange requires preparation.

The IRS imposes strict timelines.

After selling a relinquished property, investors have 45 days to identify replacement properties and 180 days to complete the transaction.

These timelines are absolute.

Missing a deadline can destroy the exchange.

The first tip for a successful 1031 exchange is to work with a qualified intermediary.

A qualified intermediary holds proceeds during the transaction.

Investors cannot directly receive sale proceeds.

If funds touch the investor’s account, the exchange may fail.

Choosing an experienced intermediary helps avoid mistakes.

Another key tip is identifying multiple replacement properties.

Markets change quickly.

Deals fall apart.

Financing issues arise.

By identifying multiple replacement options, investors create backup plans.

Many experienced investors use the “three-property rule,” which allows identification of up to three properties regardless of value.

Diversification can also improve long-term outcomes.

A 1031 exchange does not require investors to move into the same exact property type.

An investor may exchange a rental home for a multifamily property, commercial building, or even land.

The property simply must qualify as like-kind investment real estate.

One often-overlooked strategy involves moving from active management into passive ownership.

Many older investors use 1031 exchanges to transition away from managing properties.

For example, an investor can exchange into Delaware Statutory Trusts (DSTs), which allow ownership inside institutional-grade properties while avoiding day-to-day management.

Location also matters.

Investors should not force an exchange into a weak market simply to avoid taxes.

Tax deferral is valuable, but buying a poor property can erase that advantage.

Quality always matters more than speed.

Cash flow should remain a priority.

Some investors become too focused on appreciation.

However, cash-flow-producing properties create stability and reduce pressure during economic downturns.

A replacement property should ideally improve either cash flow, appreciation potential, or portfolio diversification.

Leverage also matters.

To fully defer taxes, investors generally must purchase a property of equal or greater value and reinvest all equity.

Reducing debt significantly may trigger taxable “boot.”

Understanding financing structure is essential.

Many investors also fail to analyze depreciation recapture.

While a 1031 exchange defers taxes, depreciation recapture remains deferred rather than eliminated.

Long-term planning matters.

Some investors continue exchanging properties throughout life and eventually pass holdings to heirs.

At death, heirs often receive a step-up in basis.

This can potentially eliminate deferred capital gains taxes entirely.

This strategy creates extraordinary long-term wealth-building potential.

Another important tip is building relationships before the sale occurs.

Waiting until after closing to search for replacement property creates pressure.

Savvy investors identify opportunities before selling.

Networking with brokers, lenders, wholesalers, and local agents improves deal flow.

Investors should also evaluate market cycles.

Buying into overheated markets can reduce future returns.

Understanding population growth, job migration, and rental demand helps identify stronger long-term markets.

1031 exchanges work especially well when moving from slow-growth markets into stronger economies.

For example, many investors shift capital into Sunbelt markets because of migration patterns, lower taxes, and business growth.

Finally, investors should remember that the goal is not simply avoiding taxes.

The goal is building wealth.

Taxes matter, but asset quality matters more.

A good exchange improves portfolio strength.

A poor exchange simply delays taxes while creating future problems.

When used properly, a 1031 exchange becomes one of the most powerful compounding tools available in real estate.

Alphabet (GOOG) closed at $383.22 on May 1, 2026, and remains one of the largest positions inside Chris’s Morgan Stanley portfolio. The position is up approximately 123.14% since purchase, highlighting the strength of Alphabet’s advertising dominance, cloud computing growth, and continued leadership in artificial intelligence. Analyst consensus on Alphabet remains a Strong Buy, with many Wall Street firms maintaining optimistic long-term price targets based on AI monetization and cloud expansion. Chris’s personal rating on Alphabet is a Strong Buy.

Chris owns Alphabet because it combines enormous free cash flow with long-term exposure to artificial intelligence, YouTube growth, cloud computing, and digital advertising. Alphabet remains one of the most durable technology franchises in the world, and Chris believes the company still has meaningful upside over the next decade.

Amazon (AMZN) closed at $268.26 and has delivered a gain of approximately 28.96% in Chris’s portfolio. Amazon continues to benefit from e-commerce dominance, Amazon Web Services growth, and advertising expansion. Analyst consensus remains a Strong Buy, with Wall Street continuing to view Amazon as one of the strongest long-term growth companies in large-cap technology. Chris’s personal rating is Buy.

Chris owns Amazon because of its unmatched scale across online commerce, logistics, cloud infrastructure, and digital advertising. He believes Amazon remains one of the best-positioned companies to benefit from long-term consumer spending trends and enterprise cloud adoption.

Apple (AAPL) closed at $280.14 and has generated a gain of approximately 86.85% in Chris’s portfolio. Apple remains one of the world’s most profitable companies, supported by recurring ecosystem revenue, services expansion, and unmatched customer loyalty. Analysts generally rate Apple as a Moderate Buy, reflecting stable earnings growth and strong shareholder returns. Chris’s personal rating is Buy.

Chris owns Apple because it represents one of the most consistent cash-generating businesses in the world. He values Apple’s ecosystem strength, recurring revenue model, and ability to maintain pricing power even during challenging economic periods.

Costco Wholesale (COST) closed at $1,011.70 and has appreciated approximately 114.05% in Chris’s portfolio. Costco continues to demonstrate resilient membership growth, strong consumer loyalty, and consistent traffic regardless of economic conditions. Analyst sentiment remains a Buy, with many firms maintaining premium valuation targets because of Costco’s defensive business model. Chris’s personal rating is Strong Buy.

Chris owns Costco because it combines stability with long-term growth. Costco’s recurring membership model, inflation-resistant pricing strategy, and customer loyalty create a business that Chris believes can compound wealth over many years.

Deere & Company (DE) closed at $577.26 and has delivered approximately 64.66% gains since purchase. Deere remains one of the strongest agricultural and industrial equipment companies globally, benefiting from farm modernization and automation trends. Analyst consensus currently sits at Moderate Buy, with investors watching equipment demand cycles closely. Chris’s personal rating is Hold.

Chris owns Deere because agriculture remains a foundational global industry that benefits from population growth and food demand. Deere’s precision farming technology and long-term automation opportunities give it durable competitive advantages.

GE Aerospace (GE) closed at $286.51 and is up approximately 189.68% in Chris’s portfolio. GE Aerospace has emerged as a leader in commercial aircraft engines and aerospace systems following corporate restructuring. Analysts generally rate GE Aerospace as a Strong Buy, driven by long-term airline demand and aerospace backlog strength. Chris’s personal rating is Strong Buy.

Chris owns GE Aerospace because the aviation cycle remains strong, with increasing global travel demand and aircraft maintenance requirements supporting revenue growth. He believes GE Aerospace represents one of the strongest industrial turnaround stories in recent years.

GE Vernova (GEV) closed at $1,062.95 and has become one of Chris’s biggest winners, posting gains of approximately 940.13%. GE Vernova focuses on power generation, electrification, and renewable infrastructure, benefiting from massive energy transition investment. Analyst consensus remains a Buy, with many firms viewing the company as a long-term energy infrastructure leader. Chris’s personal rating is Strong Buy.

Chris owns GE Vernova because he believes electrification, grid modernization, and global power demand create a decades-long growth runway. The company’s leadership in energy infrastructure gives it powerful secular tailwinds.

Kroger (KR) closed at $67.77 and has gained approximately 38.09% in Chris’s portfolio. Kroger remains a stable consumer staple holding with defensive characteristics and reliable cash flow. Analyst consensus is generally Hold to Moderate Buy, reflecting stable but slower growth expectations. Chris’s personal rating is Hold.

Chris owns Kroger because grocery demand remains consistent regardless of economic conditions. Kroger provides portfolio balance through defensive cash flow and dividend stability.

Meta Platforms (META) closed at $608.75 and has appreciated approximately 5.00% since purchase. Meta continues benefiting from digital advertising recovery, AI integration, and strong engagement across Instagram, Facebook, and WhatsApp. Analysts generally rate Meta as a Strong Buy, citing margin expansion and monetization opportunities. Chris’s personal rating is Buy.

Chris owns Meta because of its dominant advertising ecosystem and growing AI capabilities. He believes Meta’s scale and user engagement create long-term earnings power despite periodic regulatory concerns.

Microsoft (MSFT) closed at $414.44 and remains Chris’s largest position, with gains of approximately 823.42%. Microsoft continues to dominate enterprise software, cloud computing, and AI infrastructure through Azure and OpenAI integration. Analyst consensus remains a Strong Buy, with many firms forecasting continued long-term earnings growth. Chris’s personal rating is Strong Buy.

Chris owns Microsoft because it combines recurring enterprise revenue, cloud dominance, and AI leadership. He believes Microsoft represents one of the highest-quality businesses in the market and a core long-term holding.

Palantir Technologies (PLTR) closed at $144.07 and has generated gains of approximately 2.77% since purchase. Palantir continues expanding across government and commercial AI platforms, benefiting from increased demand for data analytics and defense software. Analyst consensus remains Moderate Buy, though opinions remain divided because of valuation concerns. Chris’s personal rating is Buy.

Chris owns Palantir because he believes artificial intelligence, defense analytics, and enterprise software adoption remain in early innings. Palantir’s government relationships and expanding commercial business provide long-term upside.

Procter & Gamble (PG) closed at $147.26 and has produced gains of approximately 80.75%. Procter & Gamble remains one of the strongest consumer staple businesses in the world, supported by household brands and dividend consistency. Analyst consensus typically falls under Moderate Buy, reflecting defensive earnings quality. Chris’s personal rating is Buy.

Chris owns Procter & Gamble because it provides portfolio stability through recurring consumer demand and dividend income. The company’s global brands help balance more aggressive growth positions inside the portfolio.

Amazon (AMZN) closed at $268.26 and has appreciated approximately 136.12% inside Chris’s Fidelity Trust account. Amazon remains a major long-term growth holding driven by e-commerce leadership, Amazon Web Services, and expanding advertising revenue. Analyst consensus continues to rank Amazon as a Strong Buy, supported by strong cash flow generation and cloud dominance. Chris’s personal rating is Buy.

Chris owns Amazon in both Morgan Stanley and Fidelity accounts because he believes the company remains one of the strongest long-term growth stories in the market. Amazon’s ability to expand across multiple industries creates durable earnings potential over time.

American Express (AXP) closed at $319.68 and has produced gains of approximately 91.79% in the Fidelity Trust portfolio. American Express benefits from affluent consumer spending, premium credit card membership, and strong travel demand. Analysts generally rate American Express as a Moderate Buy, reflecting stable earnings growth and strong return on equity. Chris’s personal rating is Buy.

Chris owns American Express because he values the company’s strong brand loyalty and premium customer base. The company’s high-income customer demographic tends to remain resilient even during economic slowdowns.

Kinder Morgan (KMI) closed at $32.23 and has generated gains of approximately 116.13% in Chris’s account. Kinder Morgan remains a major energy infrastructure company focused on pipelines and natural gas transportation. Analyst consensus generally falls into the Hold to Moderate Buy category, supported by stable dividend income and predictable cash flow. Chris’s personal rating is Hold.

Chris owns Kinder Morgan because pipeline infrastructure produces recurring revenue and often acts as an income-producing position inside the portfolio. The company benefits from growing natural gas demand and long-term energy transport contracts.

Verizon Communications (VZ) closed at $48.11 and is down approximately 4.62% from Chris’s entry price. Verizon continues to provide stable dividend income while operating one of the largest wireless networks in the United States. Analyst sentiment remains Hold, reflecting slower growth but attractive income characteristics. Chris’s personal rating is Hold.

Chris owns Verizon because it provides defensive exposure and dividend yield. Telecommunications companies often help balance more aggressive growth stocks during periods of volatility.

Exxon Mobil (XOM) closed at $152.75 and has appreciated approximately 82.04% in Chris’s Fidelity Trust portfolio. Exxon remains one of the largest integrated oil producers globally, benefiting from strong cash flow, refining operations, and energy demand. Analyst consensus typically sits at Moderate Buy, particularly when oil markets remain elevated. Chris’s personal rating is Buy.

Chris owns Exxon because energy remains a critical component of the global economy. Exxon’s dividend, integrated operations, and ability to benefit from rising oil prices make it an attractive long-term holding.

Tesla (TSLA) closed at $390.82 and has generated gains of approximately 22.89% in Chris’s Fidelity Roth IRA. Tesla remains one of the most debated stocks in the market, but it continues to lead electric vehicle innovation, battery technology, autonomous driving, and energy storage. Analyst consensus generally falls into the Moderate Buy category, with price targets varying widely because of Tesla’s volatility and growth expectations. Chris’s personal rating is Buy.

Chris owns Tesla because he believes the company remains more than an automotive manufacturer. Tesla’s exposure to robotics, artificial intelligence, autonomous driving, and energy storage creates multiple long-term growth drivers.

Apple (AAPL) closed at $280.14 and has produced gains of approximately 158.24% in this Fidelity Trust account. Apple continues to generate enormous recurring revenue through hardware, software, and services while maintaining one of the strongest consumer ecosystems in the world. Analyst consensus remains a Moderate Buy, reflecting steady earnings growth and long-term shareholder returns. Chris’s personal rating is Buy.

Chris owns Apple because it remains one of the most consistent and dependable businesses in the market. Its pricing power, ecosystem lock-in, and recurring service revenue make it a foundational long-term holding.

NVIDIA (NVDA) closed at $198.45 and has appreciated approximately 101.00% in this Fidelity portfolio. NVIDIA continues to dominate artificial intelligence infrastructure, graphics processing units, and data center acceleration. Analyst consensus remains a Strong Buy, supported by extraordinary demand for AI chips and cloud computing infrastructure. Chris’s personal rating is Strong Buy.

Chris owns NVIDIA because he believes artificial intelligence remains one of the largest secular growth trends of the next decade. NVIDIA’s dominance in GPU technology and AI hardware gives it a powerful competitive moat.

Palantir Technologies (PLTR) closed at $144.07 and is currently up approximately 0.07% in Chris’s Fidelity SIMPLE IRA account. Palantir continues gaining momentum through its government contracts, defense analytics platforms, and growing commercial artificial intelligence business. Analyst consensus remains Moderate Buy, with some analysts remaining cautious on valuation while others believe Palantir is still early in its monetization cycle. Chris’s personal rating is Buy.

Chris owns Palantir because he believes artificial intelligence and enterprise data analytics represent one of the strongest long-term themes in technology. Palantir’s expanding commercial adoption and government partnerships give it a unique position inside the AI ecosystem.

GE Vernova (GEV) closed at $1,062.95 and remains Trip’s largest position, with gains of approximately 960.37% since purchase. GE Vernova continues benefiting from electrification demand, renewable infrastructure investment, and global power generation expansion. Analyst consensus remains a Buy, supported by long-term energy transition spending and infrastructure modernization. Trip’s personal rating is Strong Buy.

Trip owns GE Vernova because he believes electrification and power infrastructure remain massive long-term themes. The company’s leadership in grid modernization and energy systems gives it strong growth potential over the next decade.

Alphabet Class A (GOOGL) closed at $385.69 and has produced gains of approximately 18.69% in Trip’s Schwab account. Alphabet remains a leader in digital advertising, cloud computing, and artificial intelligence infrastructure. Analyst consensus continues to rank Alphabet as a Strong Buy, supported by strong earnings growth and AI monetization potential. Trip’s personal rating is Buy.

Trip owns Alphabet because he believes AI, search, and cloud computing remain powerful secular growth drivers. Alphabet’s diversified business model gives investors exposure to multiple high-growth technology markets.

Eightco Holdings (ORBS) closed at $0.8238 and has gained approximately 2.98% in Trip’s portfolio. Eightco represents a smaller speculative holding with higher volatility compared to Trip’s larger core positions. Analyst coverage remains limited, making this more of a high-risk speculative investment. Trip’s personal rating is Speculative Buy.

Trip owns Eightco because he believes smaller-cap opportunities can occasionally generate outsized upside. This position reflects a willingness to take calculated risks in emerging opportunities.

Palantir Technologies (PLTR) closed at $144.07 and is up approximately 1.22% since Trip initiated the position. Palantir continues to benefit from defense contracts, enterprise analytics adoption, and expanding artificial intelligence demand. Analyst consensus remains Moderate Buy, reflecting optimism for growth but caution regarding valuation. Trip’s personal rating is Buy.

Trip owns Palantir because he believes AI-driven data analytics remains one of the strongest long-term themes in technology. Palantir’s government contracts and commercial adoption create long-term upside potential.

BitMine Immersion Technologies (BMNR) closed at $21.88 and is currently down approximately 11.49% in Trip’s account. BMNR remains a higher-risk technology position tied to digital infrastructure and speculative growth opportunities. Analyst coverage is limited, making this a speculative holding. Trip’s personal rating is Hold Speculative.

Trip owns BMNR because he is willing to take selective exposure to emerging technology themes. He believes volatility is part of long-term investing when paired with controlled position sizing.

Costco Wholesale (COST) closed at $1,011.70 and represents a newer position inside Trip’s Schwab account. Costco remains one of the strongest retail businesses in the world, benefiting from membership growth, pricing power, and consumer loyalty. Analyst consensus remains a Buy, while Trip’s personal rating is Strong Buy.

Trip owns Costco because he believes stable compounders are essential alongside higher-growth technology names. Costco provides balance, consistency, and long-term consumer resilience.

Navitas Semiconductor (NVTS) closed at $17.45 and has generated gains of approximately 134.54% in Frankie’s Schwab account. Navitas continues benefiting from growing demand for next-generation power semiconductors used in electric vehicles, charging systems, and AI data centers. Analyst consensus generally sits at Moderate Buy, reflecting strong growth potential alongside higher volatility. Frankie’s personal rating is Buy.

Frankie owns Navitas because he believes semiconductor demand tied to electrification and energy efficiency will continue growing over the next decade. Smaller semiconductor innovators can produce significant upside when adoption accelerates.

GE Vernova (GEV) closed at $1,062.95 and remains one of Frankie’s strongest performers, with gains of approximately 960.37%. GE Vernova continues to benefit from grid modernization, electrification, and global energy infrastructure spending. Analyst consensus remains a Buy, while Frankie’s personal rating is Strong Buy.

Frankie owns GE Vernova because he believes global electricity demand and energy infrastructure investment create long-term secular growth. The company’s position in renewable power and grid systems provides durable upside.

Nebius Group (NBIS) closed at $154.49 and has appreciated approximately 82.25% in Frankie’s portfolio. Nebius continues to attract interest as an emerging AI and cloud infrastructure player. Analyst coverage remains limited, though sentiment among growth investors remains optimistic. Frankie’s personal rating is Buy.

Frankie owns Nebius because he believes cloud infrastructure and AI computing demand remain early-stage opportunities. The company gives him exposure to higher-growth international technology themes.

Microsoft (MSFT) closed at $414.44 and has generated gains of approximately 270.63% in Frankie’s account. Microsoft continues leading enterprise software, cloud infrastructure, and artificial intelligence adoption through Azure and OpenAI integration. Analyst consensus remains a Strong Buy, while Frankie’s personal rating is Strong Buy.

Frankie owns Microsoft because it represents one of the highest-quality companies in the market. Microsoft’s recurring revenue and AI leadership make it a cornerstone long-term holding.

Amazon (AMZN) closed at $268.26 and has produced gains of approximately 28.96% in Frankie’s Schwab portfolio. Amazon remains a leader in e-commerce, cloud computing, logistics, and digital advertising. Analyst consensus continues to rank Amazon as a Strong Buy, while Frankie’s personal rating is Buy.

Frankie owns Amazon because he believes the company still has substantial room for long-term growth across multiple business segments. Amazon’s diversified revenue model creates stability alongside growth.

Tesla (TSLA) closed at $390.82 and has appreciated approximately 31.42% in Frankie’s portfolio. Tesla remains a leader in electric vehicles, battery innovation, autonomous driving, and energy storage. Analyst consensus remains Moderate Buy, reflecting both high growth expectations and valuation sensitivity. Frankie’s personal rating is Buy.

Frankie owns Tesla because he believes transportation electrification remains a powerful long-term trend. Tesla’s innovation pipeline extends beyond vehicles into AI, robotics, and energy.

Palantir Technologies (PLTR) closed at $144.07 and is modestly positive with gains of approximately 0.14%. Palantir continues expanding commercial AI adoption while maintaining deep government relationships. Analyst consensus remains Moderate Buy, while Frankie’s personal rating is Buy.

Frankie owns Palantir because he believes enterprise data analytics and artificial intelligence are still in the early innings. Palantir’s defense exposure and software scalability create long-term optionality.

Aurora Innovation (AUR) closed at $6.13 and has appreciated approximately 57.18% in Frankie’s portfolio. Aurora focuses on autonomous trucking and self-driving technology, positioning itself in a potentially transformative transportation market. Analyst coverage remains speculative, but sentiment remains optimistic for long-term disruption potential. Frankie’s personal rating is Speculative Buy.

Frankie owns Aurora because autonomous driving technology could significantly reshape freight and transportation industries. He believes smaller positions in emerging innovation themes can add upside to a diversified portfolio.

Meta Platforms (META) closed at $608.75 and has gained approximately 5.34% since Frankie purchased shares. Meta continues benefiting from digital advertising strength, AI integration, and high engagement across Instagram, Facebook, and WhatsApp. Analyst consensus remains a Strong Buy, while Frankie’s personal rating is Buy.

Frankie owns Meta because it remains one of the most dominant advertising ecosystems in the world. Strong cash flow and user engagement provide long-term growth support.

Costco Wholesale (COST) closed at $1,011.70 and remains a newer position inside Frankie’s account. Costco continues to stand out as one of the strongest retail businesses globally due to membership loyalty, pricing discipline, and stable cash flow. Analyst consensus remains a Buy, while Frankie’s personal rating is Strong Buy.

Frankie owns Costco because he believes durable businesses with recurring membership revenue belong in long-term portfolios. Costco adds stability alongside higher-growth technology holdings.

The first week of May reinforced a lesson long-term investors already understand: markets often climb a wall of worry. Even with geopolitical uncertainty, interest-rate concerns, and energy market risks tied to the Strait of Hormuz, equities continued to show resilience.

For our family, investing remains about ownership rather than prediction. We focus on quality businesses, strong balance sheets, durable competitive advantages, and long-term patience.

The market may experience volatility in the weeks ahead, but long-term wealth is rarely built by reacting emotionally to short-term headlines.

This newsletter is for educational and informational purposes only and should not be considered investment advice. We are not financial advisors, and nothing contained in this newsletter should be interpreted as a recommendation to buy or sell securities.

Investing involves risk, including the potential loss of principal. Always consult with a licensed financial professional, tax advisor, or legal professional before making investment or real estate decisions. Past performance does not guarantee future results.