June 2026 FIRE Portfolio Update

May 2026 was a continuation of the huge AI driven bull market that was April. Nasdaq gained another 7%+ for a total YTD gain of over 20% which is absolutely insane. Aside from a few flareups here and there, the war in Iran was no more than an afterthought after Trump TACO’d in April. AI euphoria and EPS revisions dominated the market in May with companies crushing earnings. Retail and Institution alike didn’t want to miss the party and massively FOMO’d into the market without any dips to be had.

If you haven’t already read my posts before, I achieved Financial independence back in late 2020 early 2021 with a portfolio of roughly $1.3m invested in mainly ETFs. This ballooned to $1.7m during the peak of the markets in early 2022 before coming back down to Earth later in 2022. The portfolio has since regained new all time highs as markets rally beyond the previous highs.

This post will be part of a monthly series of portfolio updates that summarizes how my portfolio performed, what trades I executed, what my monthly expenses were, and my general outlook on the economy/markets. This is by no means financial advice so do not look look at me for sage advice. I make stupid trades and make even worse losses quite frequently.

This is simply the performance of my portfolio and how it has performed on a month to month basis.

Monthly Highlights – June 2026

• Net worth is at $3.4m as of June 2026 Month end
• +$40k for the month
• In June, we stayed put in Spain and will be here until September

Market Moves

`	6/30/2026	5/29/2026	% Change
Dow Jones	52,319	51,032	2.46%
S&P 500	7,499	7,580	-1.08%
Nasdaq	26,214	26,973	-2.90%
Russell 2000	3,024	2,919	3.47%
DAX 30	44.2	46	-4.48%

What is in my portfolio?

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My portfolio is quite simple and straight forward. I have my holdings primarily spread out between a few ETFs, fixed income, and various single name stocks.

ETFs

Again, my primary holdings are in a few ETFs. My primary holdings are in VTI, VGT, and VCR. I’ve always been a big proponent of big tech and have been heavily invested in the Nasdaq for over a decade. This has paid off very well for me given the massive bull market of the 2010s and is essentially what allowed me to FIRE so quickly.

I used to hold more dividend generating stocks as I was really into this type of investing at a period of time. I currently do not have many dividend specific ETFs as I prefer growth more than income. This kind of goes against the ethos of financial independence but I have enough money coming in from other sources that I don’t need to focus so much on consistent income from my investments.

Single name stocks

Some of the single name stocks I own are the following

• RDDT
• ANET
• GOOG
• META
• NBIS
• RITM
• MU

These single name stocks make up less than 5% of my total portfolio. I tend to not buy much single name stocks anymore as there’s no point to take on unnecessary risks when I’m already so diversified with my ETFs.

Real Estate

I own real estate in Bali, Indonesia. While I’m not a big fan of real estate investment as an asset class, this is my personal home for my family. It’s hard to put a price tag on an amazing place to live that you can’t replicate in the rental market. As a home that my kids will make memories and grow up in, it’s no longer an asset that I need to profit from.

It’s hard to Mark to market the value of our home in Bali as the data is not so transparent. However, I believe that with the deal I was able to obtain, and the location of our villa, the value will at the very least hold on to what we paid for it. In addition, I took a margin loan against my portfolio to pay for the purchase. This means I didn’t sell any stock or incur any capital gains tax. I took a loan against my portfolio for the full amount of the purchase and pay an interest rate of 4.5% to Robinhood (my broker).

Fixed Income

I also purchased I-Bonds in 2022 at the height of inflation peak when I-Bonds were paying 9.5%. The rates have come down significantly since then as inflation itself has come down and I no longer bother with I-Bonds.

In the recent high interest rate environment, I had allocated a small portion of my portfolio to fixed income products, specifically purchasing treasury bills with 3-6 month expiry. These were paying out 5.5% which was a great guaranteed income generator. In recent months on the back of anticipated FED rate cuts, this rate was always going to come down which meant stocks should increase.

Well the FED cut rates for the first time since COVID in Sep 2024 which means treasury bill returns will be decreasing for the foreseeable future. My last treasury bill expired in July 2024 and that cash was used to buy the market. I suspect I will not buy any fixed income products for the foreseeable future.

Market Commentary – June 2026

June was one of the most volatile months of the year, with markets swinging wildly from record highs to sharp pullbacks before ultimately finishing almost exactly where they started. Despite the flat finish, there was certainly no shortage of excitement.

The first half of the month was dominated by the conflict with Iran. Every headline seemed to move markets, with investors reacting to constant reports of escalating tensions, ceasefire rumors, and diplomatic negotiations. Oil prices surged early as fears of supply disruptions spread, only to reverse as tensions eased and a framework for de-escalation emerged. Once investors became convinced that the conflict was unlikely to spiral into a broader regional war, risk assets recovered quickly.

The second half of June belonged entirely to artificial intelligence.

What started as growing optimism around AI spending suddenly turned into a full blown debate over whether the AI investment cycle had become unsustainable. Bears questioned whether hyperscalers could continue spending hundreds of billions of dollars on AI infrastructure, while bulls argued we were still in the early innings of one of the largest technology investment cycles in history. Almost every trading session seemed to feature a new headline fueling either AI euphoria or AI doom.

The Federal Reserve also remained firmly in focus. June marked the inaugural meeting under the Fed’s new Chair, who kept interest rates unchanged but adopted a noticeably more hawkish tone than markets had been expecting. At the start of 2026, investors were pricing in multiple rate cuts as inflation appeared to be cooling and economic growth was slowing. Fast forward six months and that outlook has changed dramatically. Inflation has proven stickier than expected, the labor market remains resilient, financial conditions have loosened thanks to surging equity markets, and AI-driven investment has created a new source of economic strength. As a result, markets have steadily removed expectations for rate cuts, with some investors now debating whether the next move could even be another hike if inflation fails to cooperate. Higher rates remain one of the biggest risks for today’s market, particularly given the premium valuations of many AI companies.

The biggest event of the month, however, was Micron’s earnings report.

Going into earnings, skepticism surrounding the AI trade had reached a fever pitch. Investors wanted proof that the enormous AI infrastructure buildout was translating into real revenue and real profits rather than just optimistic forecasts. Micron delivered exactly that. The company crushed earnings, issued another exceptional outlook, and demonstrated that demand for high-bandwidth memory continues to outpace supply. More importantly, the results reinforced the idea that AI spending is not simply theoretical. It is showing up in corporate earnings today. Semiconductor stocks exploded higher following the report, silencing many of the doubts that had built up throughout the month and reigniting momentum across the broader AI complex.

When the dust settled, June finished relatively flat despite enormous swings beneath the surface. Looking beyond the monthly performance, however, tells a much more impressive story. The second quarter of 2026 delivered the strongest quarterly rally since the post-COVID recovery in 2020, with the S&P 500 gaining approximately 14.9% and the Nasdaq surging roughly 21.4%. Both indexes recorded their best quarterly returns in six years, driven overwhelmingly by AI-related technology stocks.

Looking Ahead

The second half of the year begins with investors balancing two competing narratives.

On one hand, corporate earnings continue to justify much of the AI optimism. Capital spending from the hyperscalers remains enormous, semiconductor demand continues to exceed expectations, and earnings revisions across many AI beneficiaries remain positive.

On the other hand, expectations have become extremely high. Valuations across many AI leaders now leave very little room for disappointment, while the Federal Reserve has shifted toward a more cautious stance on inflation. Geopolitical risks also remain elevated, and any signs that AI spending is slowing could quickly trigger another bout of volatility.

Historically, however, strong first halves tend to be constructive for the remainder of the year. Since 1950, when the S&P 500 has gained more than 10% during the first six months, the index has historically continued to rise during the second half roughly 80% of the time, producing an average second-half gain of approximately 7% to 8%. While history never guarantees future returns, the long-term odds continue to favor the bulls heading into the back half of 2026.

I see some choppiness going into July but for things to stabilize and end up higher after the Midterms.

Market Value of Portfolio

Here is a history of my portfolio value. As you can see, it’s moved in line with the markets as should be the case since most of my holdings are in ETFs that track the S&P 500 and the Nasdaq.

In Sep 2025, I added my partner’s portfolio to the mix. I’ve avoided doing this for some time as this blog was mainly for my personal purposes but as we are a family now, it’s time to just aggregate everything for the blog purposes.

Trades executed for the month of June 2026

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June was an extremely active month of trading for me. Memory and Semis went absolutely wild in the month with crazy amounts of volatility. I went full ape mode disregarding my investment strategy of staying conservative with selling puts on my existing ETF holdings by selling more puts on extremely volatile memory stocks.

As I have over $2m in my brokerage account, I’m afforded an additional $1m on margin that I can use to sell puts. While you are using margin capacity by selling puts, you don’t actually own any stock so you don’t pay any interest on those positions until you take assignment. I sold numerous puts and traded in an out of Sandisk and Micron stocks during the month of June.

IVs were over 100% for these two stocks and I traded sold puts on the dips and sold them when these stocks rallied. I’ve been targeting 2-3w expiry with 0.3-0.4 delta on my puts. Before Micron’s earnings call, I sold puts on Micron closer to the money as I took the view that it would beat. Thankfully, they crushed earnings and both Sandisk and Micron rallied 15-20% the following day!

Summary of stock and ETF purchases

Option Activity

Portfolio withdrawals and expenses

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Withdrawals from my portfolio is an important part of the financial independence ethos. The 4% withdrawal rate rule is one of the main concepts of the FIRE movement which I try to adhere to. Generally, I prefer to sell from my portfolio when markets are near or at all time highs to capture, and only when I actually need the cash.

For the month of June 2026, we spent the time in Barcelona like we have been for the previous 2 months. We are here for 5 months as we will have a 2nd child and have decided that giving birth in Europe makes more sense than giving birth in Bali. It’s a bit of a lifestyle shock having gotten so used to the amenities of Bali but that will be the case living anywhere else from now on. I like Spain as a country but the meal times are the real struggle! Nothing opens until 1pm for lunch or 7pm for dinner which is far later than I’ve become used to, and almost impossible to plan meals around with a toddler.

Anyone who says Spain is affordable is out of their mind. Barcelona is incredibly expensive and our budgets have been completely blown up. We barely go out to eat because of the meal times (and with two kids) but somehow our expenses are higher than they’ve ever been.

For the next few months, I won’t be traveling much and probably won’t have any cool photos or experiences to post here.

For the month of June, I took another $5,000 withdrawal from my portfolio as we had a one time expense of paying for daycare fees in Bali (for the entire year upfront).

My blog generates money every month to the tune of $5k or more and I cover exactly how I earn money from blogging in other posts.

Expenses for June 2026

In April, we temporarily re-located to Barcelona, Spain for a few months. Our villa in Bali is vacant during this time as we have some renovations taking place so we are not enjoying any rental income to offset expenses in Barcelona.

In June, we spent a modest amount on our day to day lives. We don’t go out much as we have two little kids but somehow the expenses for food add up as we prefer to buy nice meats from the mercados and fruit from the market.

Food and dining out are quite expensive in Barcelona. The value for money is also weak. I find Spanish food to be over-rated. Small portions, high carbs, low protein, and high prices means I’m generally always hungry and unsatisfied. I cannot wait to be back in Bali.

Gyms in Barcelona are cheaper than in Bali but offers little to none of the amenities. I miss my gym in Bali a lot but what can you do.

In June, we made a one time payment for the entire year for our older child’s daycare in Bali. This amounted to somewhere around $4.5k USD.

Historically, I was accrual accounting our expenses but I’ve decided going forward I will cash account all our expenses which is much more realistic as far actual financial management goes. A lot of our expenses in Bali are paid for upfront for multiple months. Things like rent are paid upfront as well as the gym (discount for paying multiple months upfront).

In total, our expenses for the month are as follows:

Earnings for the month

While the portfolio is the main source of financial security, we still have income coming from other sources. After all, if you can make money doing something you love, why not?

In our case, we have income coming from my blog which I will detail the numbers in the next section. My partner works part time at a travel related company and also brings in income to help with the monthly expenses.

My June 2026 Blog Earnings

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I always give a run down on my monthly blogging income on these monthly portfolio reports because this is about my blog after all. My blog generates quite a lot of money from many years of hard work that it is a huge supplement to my FIRE portfolio.

• Johnny Africa 2025 Blog earnings
• Johnny Africa 2024 Blog earnings
• Johnny Africa 2023 Blog earnings
• Johnny Africa 2022 Blog earnings

My full 2025 blog earnings report has finally been released via my post in the links above. I made a total of $75k from blogging in 2025 which was an absolute monstrous and record year.

I earn money from blogging primarily from ads and sponsorships. My ads are managed by Mediavine which I joined in May 2024. In addition to Mediavine advertisements, I also earn money from Affiliate programs, sponsorships, and travel planning. More details on these things in my how to make money blogging posts.

In June, my traffic numbers stayed consistent and my Mediavine RPMs increased as I earned above the $2k mark that I have been targeting. I’m debating moving from Mediavine to Raptive (another ad network) as they have been bombarding me with emails about how much who switch earn much higher RPMs. I don’t think it’s true but what do I have to lose?

Here is a breakdown of my monthly earnings.