MLD ALPHA-AI | Performance Update · May 15, 2026
MLD. ALPHA-AI · May 2026 Meet the team
MLD Wealth  ·  Performance Update  ·  As of May 15, 2026

The numbers
behind the numbers.

MLD ALPHA-AI isn't just outperforming the broad market. It's ahead of the widely-followed AI theme itself, while staying focused on the physical infrastructure that artificial intelligence is built on.

01 / Performance

Ahead of the market. And ahead of the theme.

Year-to-date through May 15, ALPHA-AI returned 26.34%, more than three times the broad U.S. market and more than double a widely-followed AI-related ETF.

MLD ALPHA-AI
AI Infrastructure Strategy
26.34%
Leading YTD
S&P 500
Total Return Index
8.22%
Broad market comparator
Global X Robotics & AI
BOTZ · ETF
9.98%
AI-theme comparator
Year-to-date total return  ·  Jan 1 – May 15, 2026
MLD ALPHA-AI
AI Infrastructure
+26.34%
Global X Robotics & AI
BOTZ
+9.98%
S&P 500
Total Return
+8.22%

Bars scaled to relative YTD total return. ALPHA-AI performance to be verified against internal reporting before publication. S&P 500 sourced from Slickcharts; BOTZ from Yahoo Finance & FinanceCharts, as of May 15, 2026.

02 / The Thesis

You've seen this story before. You just weren't in it early enough.

Different cycles, same pattern: the infrastructure becomes visible, the spending becomes committed, and the opportunity starts compounding before most investors are fully positioned.

1990s
Microsoft
The platform layer of the personal computing era, owned before the software economy fully formed.
Infrastructure became visible
2000s
Cisco
The plumbing of the internet buildout: the routers and switches that carried everything that came after.
Spending became committed
2010s
Apple
Positioned before mobile became the platform that reorganized entire industries.
The opportunity compounded
Early 2020s
NVIDIA
Before accelerated compute became central to artificial intelligence, and the buildout began in earnest.
Most investors arrived late
Now →
AI Physical Infrastructure
The applications change weekly. The physical requirements don't. AI needs compute, power, energy infrastructure, data centers, cooling, transmission, and critical materials to scale. That is where ALPHA-AI is positioned.
The same transition, in progress
03 / Positioning

Four pillars. One buildout.

The portfolio is built across the physical buildout behind AI, not concentrated in one company or one narrow layer of the stack.

Pillar 01
Compute
The semiconductors and accelerated-compute supply chain that AI workloads run on, across the global stack.
Pillar 02
Power
Generation and grid capacity: the electricity that data centers consume at a scale the system has never delivered before.
Pillar 03
Energy Infrastructure
The transmission, cooling, and physical systems that move and manage energy where compute concentrates.
Pillar 04
Critical Materials
The scarce inputs: metals, minerals, and strategic materials required to manufacture and connect AI at global scale.
04 / Recent Activity

Managing the position, not chasing the headline.

Trimmed into strength
NVIDIA & AMD
Reduced into strength to manage concentration after a strong run.
Added balance
SGOV Treasuries
Introduced for portfolio balance and dry powder.
Rotated into
Taiwan Semiconductor
Broadening exposure across the global semiconductor supply chain.
The objective
Manage concentration, improve balance, and stay aligned with the long-term AI capital cycle. The goal is not to chase the next headline. It is to own the companies and sectors that may be required as AI moves from concept to large-scale deployment.
05 / The Setup
Our conviction is unchanged
We believe the AI buildout remains in the early stages of a major capital cycle.
The infrastructure required to power, cool, manufacture, and connect AI at global scale is still being built. That creates an opportunity across select public companies tied directly to the buildout. The performance to date is encouraging. The larger opportunity is the continued buildout ahead.
The buildout is just getting started.
If you'd like to understand how ALPHA-AI is positioned for the next phase of the capital cycle, we'd welcome the conversation.
MLD Wealth  ·  520 3rd Avenue SW, Suite 2400, Calgary, AB T2P 0R3
+1.403.691.7815
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