FrameworkNow 2026Closelook

Reference Portfolio: Skin in the Game, Not Benchmark Tracking

Closelook operates five model portfolios as reference portfolios — not benchmarks to track, but live positions with real capital behind them. The distinction matters: a benchmark is a target to match or beat. A reference portfolio is a demonstration of conviction — proof that the author acts on their own research. Every buy, sell, roll, and adjustment is published with reasoning. Every loss is documented. This is the "skin in the game" principle applied to investment research.

Why Reference, Not Benchmark

Most investment newsletters publish "model portfolios" that exist only on paper. There's no capital behind them, no emotional weight to the positions, no real consequence to being wrong. Closelook's portfolios are different: they represent actual allocation decisions backed by real capital.

This changes the quality of research. When you have money at risk, you question your own thesis harder. You size positions more carefully. You respect stops. The published portfolio is not a showcase of ideas — it's a record of decision-making under uncertainty.

The Five Portfolios

AI Build-Out: Concentrated AI infrastructure positions. High conviction, high volatility. 15-25 positions.

Hypergrowth: Emerging AI infrastructure leaders with asymmetric upside. Higher risk.

Global Tech 50: 45-55 global technology leaders. The non-US opportunity at the widest discount in a decade.

Global ETFs: Macro allocation across geographies, commodities, and crypto. The diversification layer.

Derivatives: Pure options book — cash-secured puts, covered calls, directional bets. 80-95% cash at all times. The income and hedging layer.

Closelook View

Portfolios are updated daily and published to C+ Exclusive subscribers. The Signals page documents every trade with timestamp and reasoning. This is not a tip sheet — it's an open book.

All Model Portfolios →Trade Signals — Live Log →How Regime Affects Allocation →