Welcome back to another edition of the Smart Wealth Newsletter, where our family shares our thoughts on investing, financial markets, wealth building, and real estate strategies. We truly appreciate every reader who spends part of their weekend with us as we break down what is happening in the economy and discuss the investments we believe can help families create long-term financial freedom.

For those who are new to the newsletter, our family approaches investing from a long-term perspective. We focus on owning quality businesses, identifying disruptive trends early, and staying patient during periods of volatility. We believe wealth is built over decades through discipline, consistency, and conviction.

I’m Chris McLaughlin, a real estate investor, author, and long-term market participant who has spent years helping others understand how to build wealth through both equities and real estate investing. Joining me are my two children, who continue to develop their own investment philosophies and portfolios.

Trip McLaughlin currently attends the Freeman School of Business at Tulane University, where he continues to deepen his understanding of finance, economics, entrepreneurship, and investing. Trip has developed a strong interest in technology, energy, and high-growth companies that can compound capital over long periods of time.

Frankie McLaughlin will be attending the McDonough School of Business at Georgetown University this Fall, and he continues to focus heavily on emerging technologies, semiconductors, artificial intelligence, and next-generation infrastructure opportunities. Frankie has shown tremendous conviction in several of his long-term holdings and continues to embrace a patient investment mindset despite market volatility.

As always, thank you for being part of our journey.

The financial markets continued their remarkable advance this week, with all three major U.S. stock indices either hitting or approaching record highs as investor confidence remained extraordinarily strong despite geopolitical uncertainty, elevated oil prices, and ongoing debates surrounding Federal Reserve policy. What continues to surprise many market participants is not simply that stocks are rising, but that they are doing so in the face of headlines that historically would have triggered significant volatility.

By the close on Friday, May 22nd, the markets once again demonstrated their resilience:

The Dow surged more than 2% on the week, while the S&P 500 and Nasdaq also posted additional gains as investors continued pouring capital into equities tied to artificial intelligence, infrastructure, semiconductors, defense, energy, and enterprise software. The market’s ability to climb despite inflation concerns and Middle East tensions is increasingly reinforcing the belief among institutional investors that the United States may still be in the middle innings of a broader secular bull market.

One of the biggest stories impacting markets this week was the formal swearing-in of Kevin Warsh as the new Federal Reserve Chair. Investors watched closely as Warsh officially assumed leadership of the central bank during a highly symbolic ceremony attended by President Trump, marking one of the most closely watched Fed transitions in decades.

Warsh’s appointment has become one of the most important macroeconomic developments of 2026 because investors are still attempting to determine what his leadership style will ultimately mean for interest rates, inflation policy, and financial markets overall.

Historically, Warsh has been viewed as somewhat more hawkish than certain recent Fed officials, particularly regarding inflation and monetary discipline. Markets initially approached the transition cautiously, but this week’s rally suggested investors may be growing more comfortable with the idea that Warsh intends to balance inflation control with maintaining economic growth and financial stability.

The reality is that investors currently find themselves in an unusual environment. On one hand, inflation risks remain present due to elevated energy prices and ongoing geopolitical tensions. On the other hand, corporate earnings continue outperforming expectations, unemployment remains relatively low, and the economy continues showing resilience despite years of elevated interest rates.

This balancing act has become one of the defining themes of the market.

Another major driver of investor anxiety — and simultaneously one of the largest risks facing the global economy — remains the situation surrounding the Strait of Hormuz.

The Strait of Hormuz is arguably the most strategically important oil transit route in the world, with roughly 20% of global petroleum supply passing through the narrow waterway. As tensions involving Iran and the broader Middle East escalated again this week, oil markets reacted immediately.

Crude prices remained elevated throughout much of the week as traders evaluated the possibility of supply disruptions should tensions intensify further. Investors understand that even the threat of interruptions through the Strait of Hormuz can dramatically impact global energy markets.

Higher oil prices have several important implications for financial markets.

First, rising oil prices act as a hidden tax on consumers. When gasoline prices rise, consumers often have less disposable income available for discretionary spending. Transportation, manufacturing, and shipping costs also rise, placing upward pressure on inflation throughout the economy.

Second, elevated energy prices complicate Federal Reserve policy.

If inflation begins rising again because of energy shocks, the Fed may be forced to keep interest rates higher for longer than markets currently expect. Bond investors paid close attention to this risk throughout the week, and Treasury yields remained elevated as traders debated the long-term inflation outlook.

This is precisely why the market is watching Kevin Warsh so carefully.

Warsh inherits a Federal Reserve facing one of the most difficult balancing acts in modern history. If the Fed cuts rates too quickly, inflation could reignite. If rates remain elevated too long, economic growth could eventually slow more sharply than expected.

So far, however, the economy has proven remarkably durable.

Consumers continue spending. Corporate earnings remain strong. AI-driven capital expenditures are exploding higher. Infrastructure spending remains robust. Defense and energy sectors continue benefiting from geopolitical uncertainty. And perhaps most importantly, corporate America continues finding ways to improve productivity through automation and artificial intelligence.

The AI revolution continues serving as the dominant force driving equity markets higher.

Companies tied to semiconductors, cloud computing, data center infrastructure, cybersecurity, and enterprise software remain among the market’s strongest performers. Investors increasingly recognize that artificial intelligence is no longer simply a speculative narrative — it is becoming one of the largest capital investment cycles in decades.

This is particularly important because AI growth has ripple effects across the broader economy.

Massive data centers require enormous electricity generation capacity. Power infrastructure must be expanded. Cooling systems, networking equipment, advanced semiconductors, and energy-efficient technologies are all experiencing growing demand. Entire industries are now positioning themselves around what many believe could become the largest productivity boom since the internet revolution.

Semiconductor companies remain central to this trend, and investors continue aggressively rewarding firms positioned to benefit from rising AI infrastructure spending.

This week’s market strength also reflected improving investor sentiment following another generally solid earnings season. Several large companies posted stronger-than-expected results, reinforcing confidence that corporate profits may continue growing even in a higher-rate environment.

Technology companies once again led the advance, but importantly, market breadth also improved. Industrials, financials, aerospace companies, energy producers, and select consumer stocks participated in the rally, suggesting the bull market is broadening beyond just a handful of mega-cap technology names.

The banking sector also showed signs of stabilization this week. Investors have become increasingly optimistic that a resilient economy and strong credit conditions could help support financial institutions despite elevated interest rates. Regional banks, which faced significant pressure over the past two years, showed renewed buying interest as recession fears continued fading.

Meanwhile, energy companies remained a major focus as investors weighed the possibility of prolonged geopolitical instability. Higher oil prices generally benefit major integrated energy producers, but they can simultaneously pressure broader market sentiment if inflation concerns intensify too aggressively.

One area markets continue monitoring closely is housing.

Mortgage rates remain substantially above pre-2022 levels, but investors are increasingly hopeful that rates could gradually stabilize later this year if inflation moderates. Inventory shortages continue supporting housing prices nationally despite affordability challenges, and many real estate investors remain cautiously optimistic regarding long-term housing fundamentals.

Bitcoin and digital assets also remained relatively strong this week as institutional adoption trends continued gaining momentum. Many large investors now increasingly view Bitcoin as part of a diversified alternative asset strategy rather than purely speculative exposure.

Ultimately, this week demonstrated once again that financial markets remain extraordinarily resilient.

Despite concerns surrounding oil prices, inflation, Treasury yields, Middle East tensions, and leadership changes at the Federal Reserve, investors continued buying equities aggressively. Markets that continue rising in the face of widespread caution often signal underlying strength.

The broader reality is that enormous amounts of institutional capital remain focused on long-term secular growth themes tied to artificial intelligence, semiconductors, infrastructure modernization, energy demand, automation, cybersecurity, and productivity expansion.

While volatility will always exist, long-term investors continue being rewarded for remaining patient and disciplined.

The market environment today remains highly dynamic, but one thing is becoming increasingly clear: investors are looking beyond short-term headlines and positioning themselves for what they believe could be a transformational decade driven by innovation, technology, and economic modernization.

One of the most exciting holdings in our family portfolio continues to be Navitas Semiconductor (NASDAQ: NVTS), a company that Frankie has remained incredibly committed to despite the volatility that often comes with emerging technology stocks.

Frankie is currently up approximately 293% on his investment in NVTS, and perhaps more importantly, he continues to believe the company’s long-term opportunity may still be in the early innings. Rather than treating the stock as a short-term trade, Frankie views Navitas as a long-duration investment tied to several major technological megatrends that could reshape the global economy over the next decade.

Navitas Semiconductor specializes in next-generation power semiconductors using advanced materials such as gallium nitride, commonly referred to as GaN, and silicon carbide technologies. While these terms may sound highly technical, the practical implications are extremely important.

Traditional silicon-based semiconductors have powered electronics for decades, but newer technologies like GaN offer major advantages in energy efficiency, power density, charging speed, heat reduction, and overall performance. As the world becomes increasingly electrified and AI-driven, efficient power management becomes critically important.

This is where Navitas enters the picture.

The company’s technology is designed to improve energy efficiency across a wide range of applications including artificial intelligence data centers, electric vehicles, solar energy systems, consumer electronics, industrial applications, and fast charging infrastructure.

One of the reasons Frankie remains so bullish on the company is the growing realization that AI is not simply a software story. Artificial intelligence requires enormous physical infrastructure. Massive data centers require substantial electricity consumption, cooling systems, advanced power conversion, and increasingly sophisticated semiconductor architecture.

As AI adoption accelerates globally, efficient power delivery systems become more valuable.

This is a major reason investors have increasingly revisited smaller semiconductor companies positioned around energy efficiency and next-generation infrastructure.

Navitas has also continued expanding partnerships and commercial relationships across multiple industries. The company’s technology has already appeared in ultra-fast charging solutions and next-generation power systems, and management continues pursuing larger enterprise and industrial opportunities.

Another reason Frankie remains patient with the stock is that emerging technology adoption curves rarely move in straight lines. Volatility is normal. Young companies often experience dramatic swings as investors debate future profitability, competitive positioning, and market adoption rates.

However, Frankie believes the long-term opportunity could substantially outweigh short-term fluctuations.

Importantly, Navitas operates in a market segment where demand may continue expanding for many years. Electrification trends are not slowing down. Electric vehicles, AI data centers, renewable energy systems, robotics, automation, and high-performance computing all require more advanced semiconductor solutions capable of handling higher power loads efficiently.

One of the biggest risks investors face with speculative growth companies is whether the underlying technology truly solves a meaningful problem. In Frankie’s view, Navitas clearly addresses one of the most important technological challenges of the next decade: efficient power consumption.

As electricity demand rises globally, efficiency becomes economically critical.

This is particularly relevant as AI infrastructure spending continues exploding. Data centers already consume massive amounts of energy, and many experts believe electricity demand could rise dramatically over the coming decade due to AI expansion alone.

Companies that help improve power efficiency could become major beneficiaries.

Of course, investing in smaller semiconductor companies is never risk free. Competition remains intense. The industry evolves rapidly, and execution matters tremendously. Navitas still faces the challenge of scaling revenue growth while proving long-term profitability.

But Frankie believes the risk-reward profile remains compelling.

Another factor supporting long-term optimism is the increasing strategic importance of semiconductor manufacturing and supply chains globally. Governments around the world continue investing heavily in semiconductor infrastructure, recognizing that chips now represent one of the most important building blocks of modern economic and national security systems.

This broader industry tailwind may continue benefiting innovative semiconductor firms for years to come.

Ultimately, Frankie’s investment philosophy with Navitas reflects an important principle of long-term investing: sometimes the biggest winners require patience, conviction, and the ability to tolerate volatility while waiting for larger secular trends to develop.

At Smart Wealth Newsletter, we continue believing that transformative technologies often create extraordinary opportunities for patient investors willing to think beyond short-term market noise. Frankie believes Navitas Semiconductor may ultimately become one of those long-term transformational stories.

One of the most powerful wealth-building tools available to real estate investors today is something many newer investors either overlook or completely fail to understand: cost segregation.

While most people think successful real estate investing is simply about collecting rent and waiting for appreciation, sophisticated investors understand that the real power of real estate often comes from the tax advantages. In many cases, these tax strategies can dramatically improve cash flow, accelerate portfolio growth, and allow investors to compound wealth much faster over time.

Cost segregation is one of the best examples of this.

At its core, cost segregation is a tax strategy that allows real estate investors to accelerate depreciation deductions on certain components of a property rather than depreciating the entire building slowly over 27.5 years for residential property or 39 years for commercial property.

Normally, when an investor purchases a rental property, the IRS requires the structure itself to be depreciated gradually over decades. However, not every component inside a property actually has the same useful life as the building itself.

For example:

Many of these items wear out much faster than the actual structure. Cost segregation studies identify those shorter-life assets and allow investors to depreciate them much more quickly.

This can create enormous upfront tax deductions.

For real estate investors trying to scale portfolios, improve cash flow, or offset taxable income, this becomes extremely powerful.

Let’s look at a simple example.

Imagine an investor purchases a rental property for $500,000. Under traditional depreciation rules, perhaps only the building portion — say $400,000 after removing land value — gets depreciated over 27.5 years.

That would create roughly $14,500 per year in depreciation deductions.

However, after conducting a cost segregation study, engineers and tax specialists may determine that 20% to 30% of the property qualifies for accelerated depreciation treatment.

Instead of deducting only $14,500 annually, the investor may suddenly be able to deduct $80,000, $100,000, or even more in the early years of ownership depending on current bonus depreciation rules.

That is a game changer.

The reason this matters so much is because taxes directly affect available investment capital.

If an investor saves $40,000 or $50,000 in taxes through cost segregation, that money can potentially be reinvested into additional real estate acquisitions, renovations, marketing, reserves, or debt reduction.

Sophisticated investors understand that preserving capital is just as important as generating returns.

Another major advantage of cost segregation is its ability to help offset active income in certain situations, particularly for real estate professionals or investors who materially participate in their properties.

This becomes especially valuable for entrepreneurs, business owners, physicians, sales professionals, and high-income earners looking for ways to legally reduce tax exposure.

One reason many wealthy individuals continue heavily investing in real estate is because the tax code remains extremely favorable toward property ownership and development.

Depreciation itself is already powerful because it often allows investors to report paper losses even while generating positive cash flow. Cost segregation simply accelerates those benefits dramatically.

What makes the strategy even more attractive is that investors do not necessarily need to perform the study immediately after purchasing a property.

In many cases, investors can complete a “look-back” cost segregation study years later and still capture missed depreciation benefits through accounting adjustments. This flexibility gives investors additional planning opportunities.

Another important factor investors should understand is bonus depreciation.

Under previous tax law changes, investors were allowed to immediately expense a large percentage of qualified short-life assets identified during a cost segregation study. While bonus depreciation percentages have gradually begun phasing down, the strategy can still create substantial upfront deductions.

Many investors are hopeful that future tax legislation could potentially expand or extend bonus depreciation again, particularly if policymakers seek to stimulate business investment and economic growth.

Cost segregation can also become extremely useful for short-term rental investors.

Properties used for Airbnb or VRBO purposes often contain numerous components eligible for accelerated depreciation. Furniture, fixtures, appliances, decorative improvements, and technology systems may all contribute to substantial deductions.

For investors building vacation rental portfolios, cost segregation can meaningfully improve early-year cash flow and help offset income generated by the properties themselves.

However, investors should also understand that cost segregation is not something to approach casually without professional guidance.

Proper engineering studies and qualified tax professionals are critical.

The IRS expects legitimate documentation supporting asset classifications, and investors should work with experienced CPAs and engineering firms that specialize in these studies. Poorly executed cost segregation strategies can create audit risk if not handled properly.

There are also future considerations investors must understand.

Accelerated depreciation can lead to depreciation recapture taxes when properties are eventually sold. However, many experienced investors strategically pair cost segregation with 1031 exchanges to continue deferring taxes while scaling portfolios into larger assets.

This combination can become extraordinarily powerful over decades.

One of the biggest mindset shifts newer investors must make is understanding that real estate is not simply about monthly cash flow.

It is about leveraging debt, appreciation, inflation, amortization, tax advantages, and forced equity creation simultaneously.

Cost segregation sits directly in the middle of that strategy.

The wealthiest real estate investors in America rarely focus only on cap rates or monthly rent checks. They focus on maximizing after-tax returns and preserving capital efficiency.

That is why cost segregation has become such an important tool among sophisticated operators.

At Smart Wealth Newsletter, we continue believing that understanding tax strategy is every bit as important as understanding property acquisition itself. Investors who learn how to properly utilize depreciation, leverage, and tax planning often place themselves years ahead financially compared to investors who focus only on surface-level cash flow metrics.

Real estate remains one of the greatest wealth-building vehicles in the world, and cost segregation continues to be one of the most powerful tools available to investors willing to fully understand how the system works.

Our family portfolios continue reflecting a long-term investment philosophy centered around artificial intelligence, infrastructure growth, semiconductors, electrification, aerospace, cloud computing, and durable consumer businesses. While each portfolio has a slightly different strategy and risk tolerance, all three portfolios remain focused on identifying companies we believe can continue compounding value over many years rather than attempting to trade short-term market volatility.

Chris continues focusing heavily on dominant large-cap businesses with strong balance sheets, durable competitive advantages, and exposure to major secular growth trends.

Closing Price: $379.38
Portfolio Gain: +120.91%
Average Analyst Rating: Strong Buy
Chris’ Rating: Strong Buy

Chris believes Alphabet remains one of the strongest AI and digital advertising businesses globally because of Google Search, YouTube, Android, and cloud computing leadership. He also believes the market still underestimates the long-term monetization potential of Google’s AI ecosystem.

Closing Price: $266.32
Portfolio Gain: +28.03%
Average Analyst Rating: Buy
Chris’ Rating: Buy

Chris owns Amazon because of the company’s leadership in cloud computing, logistics, AI infrastructure, and e-commerce. He believes Amazon Web Services remains one of the foundational platforms supporting future enterprise AI deployment.

Closing Price: $308.82
Portfolio Gain: +105.80%
Average Analyst Rating: Buy
Chris’ Rating: Buy

Chris continues believing Apple’s ecosystem strength, customer loyalty, and services business create enormous long-term value. He also believes Apple’s future AI integration opportunities remain substantial.

Closing Price: $1,028.24
Portfolio Gain: +117.19%
Average Analyst Rating: Buy
Chris’ Rating: Strong Buy

Chris believes Costco remains one of the strongest retail business models in America because of its membership loyalty and operational discipline. Even during difficult economic environments, Costco continues attracting consistent consumer demand.

Closing Price: $529.15
Portfolio Gain: +50.68%
Average Analyst Rating: Buy
Chris’ Rating: Buy

Chris believes Deere remains well positioned for long-term growth because of automation, precision agriculture, and infrastructure modernization trends. He also likes Deere’s strong global brand and technological leadership within agriculture equipment.

Closing Price: $302.84
Portfolio Gain: +206.19%
Average Analyst Rating: Strong Buy
Chris’ Rating: Strong Buy

Chris remains highly bullish on GE Aerospace because of global aircraft demand, aerospace growth, and defense exposure. He believes the restructuring of General Electric unlocked enormous long-term shareholder value.

Closing Price: $1,038.74
Portfolio Gain: +916.44%
Average Analyst Rating: Strong Buy
Chris’ Rating: Strong Buy

GE Vernova has become one of Chris’ biggest winners as AI-driven electricity demand and infrastructure modernization continue accelerating globally. Chris believes power generation and grid expansion may remain one of the strongest investment themes of the next decade.

Closing Price: $67.25
Portfolio Gain: +37.03%
Average Analyst Rating: Hold/Buy
Chris’ Rating: Hold

Chris owns Kroger as a defensive consumer staple holding that provides stability during uncertain economic periods. He believes grocery demand remains resilient regardless of economic conditions.

Closing Price: $610.26
Portfolio Gain: +5.26%
Average Analyst Rating: Strong Buy
Chris’ Rating: Buy

Chris believes Meta remains one of the strongest AI and advertising businesses globally because of its enormous user base and AI investment initiatives. He continues liking Meta’s long-term monetization opportunities across digital advertising and AI tools.

Closing Price: $418.57
Portfolio Gain: +832.63%
Average Analyst Rating: Strong Buy
Chris’ Rating: Strong Buy

Chris believes Microsoft remains one of the best-positioned companies globally to monetize artificial intelligence across enterprise software and cloud computing. Azure and AI integration continue strengthening Microsoft’s competitive position worldwide.

Closing Price: $136.88
Portfolio Gain: -2.36%
Average Analyst Rating: Buy
Chris’ Rating: Buy Aggressively on Pullbacks

Chris believes Palantir may become one of the most important enterprise AI and analytics firms globally over the next decade. He continues liking the company’s growing government and commercial adoption trends.

Closing Price: $144.44
Portfolio Gain: +76.28%
Average Analyst Rating: Buy
Chris’ Rating: Hold/Buy

Chris owns Procter & Gamble because of its defensive characteristics, dividend stability, and global consumer brand dominance. He appreciates the consistency and resilience the company provides during periods of market uncertainty.

Chris’ Fidelity accounts continue balancing growth, energy, infrastructure, and dividend-producing businesses.

Closing Price: $426.01
Portfolio Gain: +33.96%
Average Analyst Rating: Buy
Chris’ Rating: Strong Buy

Chris believes Tesla remains one of the most important long-term AI, robotics, autonomous driving, and energy technology companies in the world. He continues viewing Tesla as a transformational innovation platform rather than simply an automobile manufacturer.

Closing Price: $215.33
Portfolio Gain: +118.09%
Average Analyst Rating: Strong Buy
Chris’ Rating: Strong Buy

Chris believes NVIDIA remains one of the most important companies driving the global AI revolution because of its dominance in accelerated computing and AI chip infrastructure. He continues viewing NVIDIA as foundational to the future of artificial intelligence.

Closing Price: $305.35
Portfolio Gain: +18.58%
Average Analyst Rating: Strong Buy
Chris’ Rating: Strong Buy

Chris believes Lam Research is one of the most important semiconductor equipment companies globally because advanced AI chip manufacturing depends heavily on specialized fabrication technology. He expects semiconductor infrastructure spending to remain strong for years ahead.

Closing Price: $154.92
Portfolio Gain: +84.63%
Average Analyst Rating: Buy
Chris’ Rating: Strong Buy

Chris continues believing Exxon Mobil remains extremely well positioned as global energy demand stays elevated amid geopolitical instability and rising electricity consumption. He believes the Strait of Hormuz situation further reinforces the strategic importance of large integrated energy companies.

Closing Price: $311.78
Portfolio Gain: +87.05%
Average Analyst Rating: Buy
Chris’ Rating: Buy

Chris owns American Express because of the company’s premium customer base, strong brand power, and resilient consumer spending trends. He believes affluent consumers continue supporting long-term growth in payments and travel spending.

Closing Price: $33.79
Portfolio Gain: +126.57%
Average Analyst Rating: Buy
Chris’ Rating: Buy for Income

Chris believes Kinder Morgan remains an important long-term energy infrastructure holding because of stable cash flow and natural gas demand growth. He also likes the company’s dividend profile and pipeline exposure.

Closing Price: $48.35
Portfolio Gain: -4.15%
Average Analyst Rating: Hold
Chris’ Rating: Hold

Chris owns Verizon primarily for defensive positioning and dividend income stability. He believes telecom infrastructure remains important long term despite slower growth characteristics.

Trip’s portfolio remains aggressively positioned toward AI infrastructure, speculative growth, and emerging technology opportunities.

Closing Price: $1,038.74
Portfolio Gain: +936.22%
Average Analyst Rating: Strong Buy
Trip’s Rating: Strong Buy

Trip believes AI infrastructure and electricity demand will continue driving enormous investment into power generation and grid modernization. He remains highly bullish on GE Vernova’s long-term opportunity.

Closing Price: $1,028.24
Portfolio Gain: +123.08%
Average Analyst Rating: Buy
Trip’s Rating: Buy

Trip believes Costco remains one of the strongest and most consistent retail companies in America because of its loyal membership base and pricing power. He likes the company’s long-term stability and ability to continue growing regardless of broader economic conditions.

Closing Price: $382.97
Portfolio Gain: +9.71%
Average Analyst Rating: Strong Buy
Trip’s Rating: Strong Buy

Trip believes Alphabet remains one of the dominant AI and cloud computing companies globally because of Google Search, YouTube, and AI infrastructure expansion. He expects AI monetization to continue driving long-term growth.

Closing Price: $136.88
Portfolio Gain: -3.83%
Average Analyst Rating: Buy
Trip’s Rating: Buy Aggressively on Pullbacks

Trip believes Palantir may become one of the defining enterprise AI software companies of the next decade. He likes the company’s growing government and commercial AI adoption.

Closing Price: $0.9447
Portfolio Gain: +17.53%
Average Analyst Rating: Speculative/High Risk
Trip’s Rating: Speculative Buy

Trip views ORBS as a speculative small-cap opportunity with significant volatility but potentially meaningful upside if the company executes successfully. He understands the risks associated with smaller-cap growth names but believes selective speculative exposure can create asymmetric upside opportunities.

Closing Price: $18.88
Portfolio Gain: -23.62%
Average Analyst Rating: Speculative Hold
Trip’s Rating: Hold Speculatively

Trip understands the volatility surrounding cryptocurrency infrastructure investments but believes long-term digital asset adoption may still create substantial upside. He remains patient despite short-term weakness.

Frankie’s portfolio continues heavily emphasizing semiconductors, artificial intelligence, autonomous driving, and cloud computing.

Closing Price: $29.25
Portfolio Gain: +293.14%
Average Analyst Rating: Strong Buy
Frankie’s Rating: Strong Buy Long Term

Frankie believes Navitas Semiconductor could become an important long-term beneficiary of AI infrastructure growth and rising electricity demand because of its next-generation power semiconductor technology. He continues holding the stock with a very long-term mindset.

Closing Price: $1,038.74
Portfolio Gain: +936.22%
Average Analyst Rating: Strong Buy
Frankie’s Rating: Strong Buy

Frankie believes GE Vernova remains extremely well positioned to benefit from rising electricity demand and AI infrastructure expansion globally. He continues viewing power generation and grid modernization as major long-term investment themes.

Closing Price: $1,028.24
Portfolio Gain: +122.69%
Average Analyst Rating: Buy
Frankie’s Rating: Buy

Frankie believes Costco continues operating one of the strongest consumer retail models globally because of its recurring membership revenue and customer loyalty. He likes the company’s consistency and defensive characteristics.

Closing Price: $214.77
Portfolio Gain: +153.36%
Average Analyst Rating: Buy
Frankie’s Rating: Aggressive Buy

Frankie views Nebius as a high-growth AI infrastructure opportunity with substantial upside potential. He continues believing demand for AI cloud computing and infrastructure services could accelerate significantly over time.

Closing Price: $418.57
Portfolio Gain: +274.32%
Average Analyst Rating: Strong Buy
Frankie’s Rating: Strong Buy

Frankie believes Microsoft remains one of the strongest AI and cloud computing companies in the world because of Azure and enterprise software leadership. He expects Microsoft to remain a dominant AI winner for years ahead.

Closing Price: $266.32
Portfolio Gain: +28.03%
Average Analyst Rating: Strong Buy
Frankie’s Rating: Buy

Frankie continues believing Amazon remains one of the dominant AI infrastructure and cloud computing companies in the world through Amazon Web Services. He also likes Amazon’s leadership in logistics and enterprise technology infrastructure.

Closing Price: $426.01
Portfolio Gain: +43.25%
Average Analyst Rating: Buy
Frankie’s Rating: Strong Buy

Frankie believes Tesla remains one of the most important long-term technology companies because of its leadership in electric vehicles, autonomous driving, robotics, and AI integration. He continues viewing Tesla as far more than simply an automotive manufacturer.

Closing Price: $136.88
Portfolio Gain: -4.86%
Average Analyst Rating: Buy
Frankie’s Rating: Buy Aggressively on Weakness

Frankie continues believing Palantir could become one of the most important enterprise AI and data analytics firms globally over the next decade. He remains patient despite short-term volatility because of the company’s expanding commercial and government adoption trends.

Closing Price: $7.07
Portfolio Gain: +81.28%
Average Analyst Rating: Speculative Buy
Frankie’s Rating: Speculative Buy

Frankie believes autonomous trucking and self-driving technology could eventually become transformational industries over the next decade. Although speculative, he believes Aurora has meaningful upside potential if autonomous driving adoption accelerates.

Closing Price: $610.26
Portfolio Gain: +5.60%
Average Analyst Rating: Strong Buy
Frankie’s Rating: Buy

Frankie believes Meta remains one of the strongest AI and digital advertising companies globally because of its enormous user base and aggressive AI investment strategy. He continues liking the company’s long-term monetization opportunities across artificial intelligence and digital ecosystems.

This week’s financial markets once again demonstrated the power of long-term investing and disciplined conviction. Despite geopolitical uncertainty, rising oil prices, inflation concerns, and continued discussion surrounding Federal Reserve policy under Kevin Warsh, the markets pushed to record highs as investors continued embracing long-term growth themes tied to artificial intelligence, infrastructure, semiconductors, and electrification.

Our family continues focusing on businesses we believe can benefit from these transformational trends over many years rather than reacting emotionally to short-term market volatility. Whether through AI infrastructure, cloud computing, aerospace, energy, semiconductors, or real estate investing, we remain committed to identifying opportunities where patience and long-term thinking may ultimately produce meaningful wealth creation.

We truly appreciate every reader who follows our family’s investing journey each week and allows us to share our thoughts, successes, lessons, and long-term perspective.

This newsletter is provided strictly for educational and informational purposes only and should not be considered financial, legal, tax, or investment advice. The investments discussed in this newsletter may not be suitable for every investor, and all investing involves risk, including the possible loss of principal.

Chris McLaughlin, Trip McLaughlin, and Frankie McLaughlin are not acting as your personal financial advisors, and nothing contained in this newsletter should be interpreted as a recommendation to buy or sell any security. Always conduct your own due diligence and consult with a licensed financial advisor, CPA, or attorney before making any investment decisions.

Past performance does not guarantee future results. Market conditions can change rapidly, and opinions expressed in this newsletter are subject to change without notice.