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Equity Mates Investing Podcast

Our Monthly Portfolio Update - May 2026

5/31/202634 min

Bryce and Alec open the books on their portfolios after a big month in markets. AI continues to drive returns across the US and Asia, both portfolios saw core holdings run hard, and both made some tough sell decisions. They dig into thesis cards, active management, thematic ETFs, income investing and the challenge of balancing conviction with opportunity cost.

In this episode:

00:00 - May: The month of portfolio changes

01:49 - News & markets driving these changes

03:21 - Portfolio performance overviews

05:53 - Bryce’s thesis cards and portfolio sells

12:00 - Ren trims down his individual stocks

15:54 - Active managers vs index ETFs discussion

21:29 - Bryce’s full portfolio breakdown

26:27 - Ren’s full portfolio breakdown

Stocks & ETFs mentioned: Vanguard Diversified High Growth Index ETF (ASX: VDHG), Betashares Geared U.S. Equity Fund (ASX: GGUS), Vanguard FTSE Asia ex Japan Shares Index ETF (ASX: VAE), Taiwan Semiconductor Manufacturing Company (NYSE: TSM), Samsung Electronics, SK Hynix, Micron Technology (NASDAQ: MU), CSL (ASX: CSL), Coinbase (NASDAQ: COIN), Betashares S&P 500 ETF (ASX: IVV), Plato Global Alpha Fund, Betashares Geared Australian Equity Fund (ASX: GEAR), Global X Copper Miners ETF (ASX: WIRE), Betashares Gold Bullion ETF (ASX: QAU), Axon Enterprise (NASDAQ: AXON), Bitcoin (BTC), Betashares Wealth Builder Diversified All Growth Geared ETF (ASX: GHHF), Betashares Global Shares ETF (ASX: EXUS), Betashares MSCI Emerging Markets ETF (ASX: BEMG), Betashares Global Royalties ETF (ASX: ROYL), ClearBridge Global Infrastructure Income Fund, Catapult Group International (ASX: CAT), Spotify (NYSE: SPOT), Eli Lilly (NYSE: LLY), Shopify (NYSE: SHOP), QXO (NYSE: QXO), Hims & Hers Health (NYSE: HIMS)

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Resources Reference: Dr David Allen Interview on Equity Mates.

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Clips

Index vs Active Managers Debate
Confronting the Endowment Effect
Cutting CSL and Coinbase
Losing Hair Over Investing

Transcript preview

First 90 seconds

  1. Alec Renehan· Host0:00

    [gentle music] Everything you're about to hear is for education and entertainment purposes only. Whilst we are licensed, we're not aware of your personal financial circumstances. Any advice is general advice. Equity Mates operates under Australian Financial Services license 540697. Some stocks had some tough moments, and I, I've, I've made some big changes in my stock portfolio.

  2. Bryce Leske· Host0:20

    [laughs] Oh, my.

  3. Alec Renehan· Host0:21

    I've sold a lot, and God, I found it hard to sell.

  4. Bryce Leske· Host0:24

    Some of the positions in my portfolio are, are really no good, 'cause it's just like crap. Why do I even own this?

  5. Alec Renehan· Host0:30

    Yeah.

  6. Speaker 3· Soundbite0:30

    [upbeat music] Equity Mates.

  7. Bryce Leske· Host0:33

    Welcome to another episode of Equity Mates, a show where we explore what's possible in the world of investing. If you've just joined us for the first time, a huge welcome to our community. My name's Bryce.

  8. Alec Renehan· Host0:42

    And I'm Ren, and today we are doing our monthly portfolio update where we share everything we own.

  9. Bryce Leske· Host0:48

    These monthly updates are proudly brought to you by Sharesight. Uh, Sharesight is the portfolio tracker that we use that brings in all of our positions so that we can easily keep up to what we're doing.

  10. Alec Renehan· Host0:58

    And obviously, the budget's been big news in Australia. Sharesight developers have been working night- [laughs] Big time ... and day. It's been a tough couple of weeks for them, but they have just launched their new s- capital gains tax calculator and reporting. So if you're a bit worried about calculating annual inflation rates- Mm ... and indexing your cost base to make sure you're getting the full discount that you can get under this new regime, well, rest assured that Sharesight has got you covered.

  11. Bryce Leske· Host1:24

    You can sign up to Sharesight today and save four months on any paid Sharesight plans. We should say

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