2026 GARP Portfolio - Thoughts?

I'm curious what others here think of the portfolio. I'm aiming for S&P 500 outperformance with max drawdowns slightly higher than the S&P. * 20.9% Amazon * 17.6% Sea Limited * 12.4% Netflix * 10.0% Berkshire Hathaway * 9.8% MercadoLibre * 8.7% Microsoft * 5.8% iShares 20+ Year Treasury ETF * 5.2% Rubrik * 3.8% Grab Holdings * 3.6% ZScaler * 2.3% Nebius Like I said, the goal is S&P 500 outperformance with max drawdowns only being slightly higher. Outperform in bull markets, easily survive bear markets. "Themes" are mainly Consumer Tech/AI, Emerging Markets ex-China growth, Enterprise SaaS with an emphasis on cybersecurity. I think TLT is a great and easy hedge at the moment. Rates are relatively high, and the labor market is softening. If we get a standard recessionary bear market, inflation and rates will come down and TLT will rise \~20-30% while stocks are crashing. I also like when a hedge has positive expected returns so the performance drag is minimal. Some of these positions are several years old, some are new (Netflix, ZScaler, Nebius), and some are a few months to a year old. I'm curious to hear what your thoughts are. I know this isn't a traditional "value" portfolio, but it's valuation aware, growth at a reasonable price. And I believe it has a good chance of achieving the goals I set out to achieve.