Is it possible to be a profitable domainer with a very small portfolio?

I’ve dabbled around with domains for about a decade, on and off. I treat it as a hobby and, like many here, have a professional life outside of the domain industry. As such, I can be very relaxed about my frequency of sales and even my profit margins – I simply treat it as a modest, second income.

As a result, my “portfolio” of domains is tiny by most domainer’s standards. I rarely have more than 15 domains, peaking at about 20 from time to time. At the moment I think I have 9.

However,…

Is it possible to be a profitable domainer with a very small portfolio?