↑ Global Small Cap is up by $3,825 or +2%
↑ GBP is up to USD by 0.8% or $776 for my portfolio
↑ Additional investment savings $2,500
Total gains: $7,247
↓ Emerging Markets Stock Index Fund is down by $6,090 or -3.2%
↓ US 500 Stock Index Fund is down by $47,819 or -8.4%
↓ Growth fund is down by $1,051 or -1.0%
↓ EUR is down to USD by 0.9% or $3,546 for my portfolio
Total losses: $58,506
Observations:
I haven’t made any changes to the portfolio allocation or any investments. I am getting concerned that S&P500 is getting over concentrated at the top, where the ten companies at the top of the list are close to 40% of the total market value. 29% of all gains in 2025 in S&P500 were made by just two stocks – Nvidia & Alphabet (Google).
We have ultra concentration of a few companies in S&P500, with further tilt to one specific sector, driven by technology which hasn’t been commercialized fully. In part thirty years the average weight of the top ten stock in S&P500 index has been varied between 25% to 17%.
Another concern is those 10 top stocks trade at about 30 times forward earnings, while remaining 490 stocks at 20 times forward earnings. The top ten stocks in the index have also changed a lot and only Microsoft remains among them. In my opinion S&P500 is not diversified as it appears to be, there is a lot of concentration in technology sector weight and performance wise. For now, I remain in cash and will keep accumulating my position.
I would invest in precious metals but they are on a tear as well (gold went from ~ 2,700 USD to 4,600 USD per troy ounce in a year).
Fun fact: The U.S. Secret Service was originally created on July 5, 1865, during the Civil War to fight counterfeiting, which was a huge problem. By the end of the war, between 1/3 and 1/2 of all U.S. paper currency in circulation was counterfeit.
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