Darwin Portfolio Review: 5 December 2025

Seafood Market, Karon, Thailand

US Equities continued their slow drift higher on average volume this week, with the SPX (S&P 500 Index) closing the week ~0.3% higher than last weeks close and ~ 50 points below the all-time highs reached on 29 October :

In terms of performance, relative to other major asset classes, this again placed US equities in the middle of the pack:

with Oil and International equities ahead of them and Bonds being the biggest loser. Due to the slow grind, volatility has dropped and so SVXY (the inverse Volatility ETF) topped the list with the strongest performance.

Apart from collecting a few dollars in Dividends from BIL (the T-Bill ETF that I use to place money that is not invested in growth Funds) no changes were made to the Darwin Portfolio this week:

and it continues to tread water in time with the benchmark AOA Fund with a 7.4% Internal Rate of Return (IRR) in the 2 months since the beginning of October.:

I hope to switch to a new momentum algorithm for this portfolio before the end of the year but, in the meantime the rankings and recommendations from the current model look like this:

Since I am planning to change to the new model soon, I have chosen to hold ~50% in Cash rather than purchase shares in AOA or SVXY since there is no really strong evidence that these 2 ETFs are likely to take off to the moon in the next few weeks.  At present no holdings are hedged through the sale of Call Options.