Action Plan: Oscar Health

Dear Full Members,

Starting today, I’m introducing a new format that I will share on an ad hoc basis whenever market conditions make it necessary. These notes are meant to provide clarity on how I plan to act in real time, not after the fact. They are not trading alerts or predictions. They are forward-looking insights into how I manage a highly concentrated portfolio in volatile moments.

This new layer of communication is designed for those who value alignment, preparation, and transparency. It will not appear on a fixed schedule. Only when it matters.

As you know, my portfolio is built around a few high-conviction positions. Apollo is a core compounder. But right now my focus is on Oscar Health. The price action is dislocated. Sentiment is broken. That combination creates opportunity.

For those who want forward guidance instead of after-the-fact commentary, this new format will offer real-time insight into how I allocate capital. The full action plan follows below.