Sycamore Portfolio Update | February 2026

Portfolio updates and thoughts from a very busy month

Dear Subscribers,

What a month February was. All but one company in the portfolio reported earnings. Additionally, multiple stomach bug illnesses swept through my family. It was brutal. More brutal than the PayPal earnings report.

There is a lot to update you on from the month that was, certainly with some highs and some lows.

I know many people have reached out regarding The Trade Desk’s earnings from 2/25. I have been patient to respond as I have spent a fair amount of time taking everything in first. I will share those thoughts with free and paid subscribers in a separate post in the coming days.

In this post, I will share my thoughts from other contributors and detractors in the portfolio. A few new positions. A couple closed out positions.

This was probably the most active I have ever been over the course of a one month period.