Lakespring Investments is an independent investment research platform built on a first-principles approach to portfolio construction. We hold concentrated positions in the transformative technologies reshaping the global economy — artificial intelligence, energy, cryptocurrencies, and the models that currently define the way we work — and systematically write options premium against those holdings to generate consistent income while the long-term thesis compounds. The portfolio reflects how I actively manage my own family's capital, published in the open.
My family came to Canada with nothing. They worked hard for decades — the kind of hard that defines an entire generation of immigrant households — and yet they stayed on the wrong side of the wealth divide. Not because they lacked intelligence. Not because they lacked discipline. But because no one ever taught them how modern wealth is actually built. In other words, they knew how to save but not how to own.
That distinction sounds small until you live through what we're living through now. The economy has split into two tracks — what economists call the K-shaped economy — and the gap between them is no longer about effort. It's about asset ownership. One cohort compounds wealth through equity in transformative businesses and concentrated bets on the future. The other cohort earns wages that fail to keep pace with the cost of the things those assets are buying.
Same hours worked, different outcomes.
I started Lakespring Investments because the financial philosophy my family held to — save, invest in real estate or GICs and index funds, retire at 65 — is calibrated for an economy that no longer exists. The next decade isn't going to reward the average. It's going to reward conviction in the companies and assets actively rewriting how the world works. I want my family on the right side of that divide, and I'm building Lakespring Investments as the public record of how I'm doing it.
What follows is the framework that turns that conviction into a portfolio — and the income engine that runs on top of it.
Most portfolio construction starts with the market and works inward — pick a benchmark, choose a tracking error budget, slot positions into sectors. The result is a portfolio shaped by the index it's trying to outperform.
Lakespring Investments starts somewhere else. The question isn't which stocks will beat the S&P 500 over the next year. It's:
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That reframing changes what gets held. The First Principles Portfolio is a concentrated basket built around businesses and assets that aren't competing within an industry — they're redefining what the industry is.
These are not value plays. They're not yield plays. They're ownership stakes in the transformations themselves.
Some of our core convictions include Bitcoin, Tesla, Palantir, Nvidia, Alphabet, and Amazon. Each position earns its place against three questions:
01
Execution power
Does the company have the engineering velocity, capital, and leadership to actually deliver on what it's promising?
02
Structural moat
Does it have compounding advantages — network effects, vertical integration, switching costs, or regulatory entrenchment — that widen as the transformation accelerates?
03
Decade durability
Can we say with confidence this business will exist and matter ten years from now, through all the volatility and disruption of the AI buildout?
The high-capex, high-volatility nature of this environment is a feature, not a bug. Choppy markets and crowded narratives are precisely the conditions in which conviction-based, long-horizon positions generate alpha. The positions that feel uncomfortable to hold during the buildout years are usually the ones that matter most when the buildout is complete.
BITCOIN
The only credibly neutral monetary asset emerging in a world where every fiat currency is being diluted by political pressure. We believe Bitcoin is the defining asset of the digital era — digital gold that will eventually sit in every serious portfolio as a structural hedge against fiat debasement and equity-correlated risk.
Moat
Network, energy, and a decade of survival
TESLA · SPACEX
Tesla and SpaceX represent the public-market and private-market sides of one unified thesis — vertical integration across compute, manufacturing, energy storage, autonomy, and orbital infrastructure. The real-world data flywheel and engineering velocity no competitor can replicate from scratch.
Moat
Vertical integration across earth and orbit
NVIDIA
Picks-and-shovels infrastructure of the AI buildout. An execution cadence and a software ecosystem that competitors have spent a decade failing to close. Their multi-billion-dollar investments across model labs, robotics, sovereign AI, and cloud further entrench Nvidia as the gravitational centre of the entire transformation.
Moat
Velocity, scale, and CUDA lock-in
PALANTIR
The deployment fabric for how governments and large enterprises will actually run AI against their own data — entrenched workflows that competitors struggle to dislodge. As AI moves from experimentation to institutional infrastructure, Palantir's position becomes more structural, not less.
Moat
Switching costs measured in years
Concentration is the point, not the risk. Diversification across thirty positions is protection against not knowing the thesis. When you know the thesis, you size into it.
But concentration creates its own operational challenge — one that premium collection is built to address.
A concentrated long-term portfolio has one operational weakness: the thesis takes time, and capital sits idle while it plays out. The premium wheel solves for that.
Our primary instrument is the cash-secured put. We sell puts on positions we already want to own, at strike prices we'd be genuinely comfortable buying at. We collect premium for that commitment. Most of the time those puts expire worthless and we write another — premium collection without ever touching the underlying. When macro conditions or position-specific catalysts warrant it, we deploy margin alongside cash to increase premium capacity. This is a thesis-informed decision, always sized relative to our conviction and tolerance for assignment.
Covered calls are a more difficult instrument with asymmetric bets. When a conviction position can move violently to the upside, you don't want a short call capping your participation at the moment that matters most. We sell covered calls only when a put gets assigned — we acquire shares at our target price, sell calls at levels we'd genuinely be comfortable exiting at, and collect more premium until called away. Cash returns to step one. The cycle restarts.
When premiums on First Principles names are compressed, we widen the programme to the Thematic Momentum Portfolio — high-conviction names positioned around current market conditions and structural tailwinds, selected for outsized capital gain upside and the elevated implied volatility that generates fatter premiums. These aren't decade-long holds — when the thesis matures or the tailwind fades, the position rotates. On names we wouldn't accumulate permanently, we run opportunistic swing trades to capture the move.
The premium isn't speculative income. It's compensation for committing to price levels we'd act on anyway.
Primary Path
Most of the time, puts expire worthless. We collect the premium and write another. The wheel never needs to complete.
Safety Net
If a put is assigned, we acquire shares at our target price and sell covered calls against them — collecting premium until called away.
The Point
Premium lands on every leg. Whichever direction the cycle flows, we're paid to wait.
Premium collection is the supporting act, not the headline. The real win is holding the right positions long enough for the transformation to be obvious to everyone else. The alpha is not generated by options — it is generated by staying in businesses that are actively rewriting the global economy through the years that feel uncomfortable.
This matters operationally. Premium should never become the reason we sell a position we believe in. Capping upside with calls during a breakout, or selling puts so aggressively that an assignment dilutes capital at the wrong moment — these are the failure modes that turn a wealth-building strategy into a yield-chasing one. Collecting while holding is the discipline. Collecting instead of holding is the mistake.
Consistent weekly income is dry powder deployed on our own terms. When a core name dips on noise that doesn't change the thesis, we add. Premium collection turns volatility from something to endure into something to act on.
Holding and collecting builds wealth — but holding comes first.
This is the Lakespring Investments playbook.
