I caught some big winners, so why don’t I feel good about it?

Lately I’ve been reviewing my portfolio and noticed something kind of frustrating. The best performers in my account are all small “just for fun” positions. Some of them are close to doubling, but when I look at the actual gains, it’s only a few thousand dollars. Meanwhile, my larger positions in ETFs and blue chips have been steady and solid, just nothing exciting. So it got me thinking: does this kind of “spray and pray” investing actually make sense? On one hand, spreading things out definitely keeps risk low. But even when you get a trend right, you end up with more of a participation trophy than anything that really moves the needle. On the other hand, the only way people seem to make real money is by concentrating into one or two high conviction positions. The downside is obvious though, if you’re wrong, it can take years to recover. Right now it feels like I can spot the gold mine, but I showed up with a plastic shovel. Curious how you all think about this. Stick with diversification for safety, or size up when you have conviction?