Lorenzo2cents H1 2026 Portfolio Performance
On Track to Deliver
As you should know by now, the goal of the Lorenzo2cents portfolio (L2C Portfolio) is to grow $50,000 to $1 million. This must be achieved in the shortest time possible, while avoiding excessive risk. To define “excessive,” I can tolerate a severe drawdown of up to 60% in the event of a black swan event, but I cannot accept permanent capital loss (i.e., wiping out the initial $50,000) or a drawdown that persists for longer than five years.
In terms of timeline, I starterd in 2024 and I believe the $1 million target is achievable by 2032, assuming no major black swan events or asset bubbles burst. In such scenarios, it would naturally take longer.
Target and KPIs
Every meaningful goal requires a clear path and process, which is why the portfolio’s success is evaluated on a rolling five-year average basis using two key performance indicators (KPIs):
Compounding at a minimum of 30% year-over-year (YoY)
Outperforming the NASDAQ Composite benchmark by at least 10%
A consistent 30% YoY compounding rate won’t quite deliver $1 million by 2032, but it represents a realistic yet ambitious target—one that would likely surpass the performance of most institutional and retail investors alike.
L2C Portfolio Performance
Now, turning to the H1 2026 (First half of 2026) performance.
Following a stellar 2024, and a good 2025, here’s how H1 2026 stacked up:
Lorenzo2cents Portfolio YTD: +19.0%
NASDAQ Composite: +11.5%
S&P 500: +9.1%
While the YTD performance remains strong compared to the benchmark and is well on track to meet my goals, I am a bit disappointed about the significant drawdowns experienced in late February and late March. During that period, my portfolio declined by an average of 25%, while the Nasdaq fell only 2% to 10%.
The underperformance was primarily driven by idiosyncratic events affecting two holdings: Oddity and Hims. Oddity suffered a severe setback in customer acquisition (which has not yet been resolved), causing its stock to drop ~70% since the start of the year. Hims was hit hard too, falling 55% after the Novo lawsuit.
Events like these are an inherent part of the portfolio’s risk profile. That said, the probability of two out of nine stocks experiencing major negative market-moving event at the same time is quite low — even though it unfortunately happened in this case.
Let’s now review the success KPIs since inception (January 1, 2024) through July 2, 2026:
L2C Portfolio CAGR: 58% — exceeding the minimum goal of 30%
L2C vs. NASDAQ Composite (IXIC) CAGR: 58% vs. 24,2% — surpassing the minimum goal of outperforming the market by 10% (overperformed by 33,8%)
L2C Portfolio Composition (as of July 2, 2026)
The following positions constitute the portfolio:
$LMND: 25.6% Allocation - Reinventing the insurance sector.
$NBIS: 22.5% Allocation - The Application Software’s Universal Substrate for Agentic Computation
$RKLB: 17.7% Allocation - The leading public space company.
$HIMS: 14.9% Allocation – Redefining healthcare by making it accessible and affordable.
$TSLA: 6.8% Allocation - The ultimate leader in transportation autonomy, sustainable energy, and humanoid robotics.
$MELI: 5.9% Allocation - The backbone of Latin America’s digital economy, poised to benefit from continent-level network effect.
$ZETA: 4,3% Allocation - The Marketing Vertical Ontology
$ODD: 3,2% Allocation - Revolutionizing the beauty industry.
$DUOL: 1.9% Allocation - Transforming education by making learning both fun and effective.
Liquidity: (3.6%)
Key Portfolio Moves
Sold $META - While I still believe META is unlocking AI’s future with an unparalleled dataset, I decided to allocate the capital to more asymmetric bets.
Opened a $ZETA position - Incredibly undervalued with an exceptional management team.
Top Performers and Top Losers (+-20% movements)
$NBIS +157%
$RKLB +44%
$ODD -55%
$DUOL -28%
Stay tuned
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Conclusion
I’m quite pleased with H1 2026’s performance and anticipate an even more exhilarating second half of 2026, if the market doesn’t crush. The Lorenzo2Cents project is growing steadily and is poised to deliver even greater value to those willing to engage with it. Stay tuned!
Please note that:
I can be and will be (hopefully not often) WRONG. This is just my personal strategy—NOT FINANCIAL ADVICE. I don’t know your financial or life situation well enough to give any recommendations. Please do your own due diligence and research. Don’t be LAZY.
Be the architect of your own destiny.
Ciao
Lorenzo