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Week 6 Portfolio Review

12 April 2026. The portfolio moved in a better direction after earlier weakness, with the stronger core positions looking steadier while gold and Rheinmetall still needed watching.

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12 April 2026 / Weekly Reviews

Week 6 Portfolio Review

The portfolio moved in a better direction after earlier weakness, with the stronger core positions looking steadier while gold and Rheinmetall still needed watching.

Week ending 12/04/2026

Snapshot
Portfolio closed the week at around £1,960 against a cost base of roughly £1,999. It is still down overall, but the account moved in a better direction this week and felt a bit stronger than it did previously.

How the week felt
The week started well, with the portfolio continuing to recover from the lows of the previous weeks. It was still choppy throughout, but there was a good recovery across most of the portfolio apart from gold and Rheinmetall. Gold is still down around 6% in the portfolio, but I think it could recover towards where we started if the disruption around the strait continues. Rheinmetall was weaker as the market seems to be pricing in the idea that the war in Iran may gradually cool off. Even so, the balance sheet still looks strong to me, and the company still has a very large backlog of orders, which helps support the longer-term case.

Main lesson from the week
The biggest lesson this week is that patience still looks more sensible than overreacting. After a few more difficult weeks, it would have been easy to become too negative about the whole portfolio. But this week showed that when the market backdrop improves, the stronger parts of the book can still do their job properly. So the process still seems more important than the short-term mark-to-market swings.

What I want to watch next week
The main thing I want to watch next week is whether this firmer tone continues, especially in the core positions like Meta, Alphabet and ASML. I also want to see whether the ETF sleeve keeps adding support and whether gold continues to provide stability if volatility returns. At the same time, IonQ and Symbotic are still the names I need to be hardest on, because they remain the least dependable part of the portfolio and need to show signs of real improvement rather than just moving around with sentiment.

Overall conclusion
My overall view for Week 6 is that this was a better week for the portfolio. The account is still below cost and not fully out of the woods, but it felt steadier and more constructive than some of the previous weeks. The stronger core positions once again looked like the right foundation, the defensive side still helped with balance, and the main weakness remained concentrated in the smaller speculative names rather than across the whole portfolio. For now, the right move still looks the same: stay disciplined, keep backing the stronger parts of the portfolio, and remain selective and critical with the weaker names.