$MAR (-0.65%)
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$PLTR (+0.05%)
$STRL (+2.37%)
$SNAP (+0.49%)
$WHR (-1.43%)
$CLX (-0.79%)
$BWXT (+1.84%)
$ON (-3.33%)
$VRTX (+0.29%)
$PFIZER
$CAT (-0.31%)
$MCD (-0.06%)
$HUT (-1.76%)
$WIX (-2.65%)
$W (-3.52%)
$BP. (+1.96%)
$SHLS
$AMD (-2.55%)
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$OPEN (-1.09%)
$ZETA (+0.86%)
$BKNG (-0.37%)
$KTOS (+1.1%)
$HL (-5.03%)
$LLY (-0.1%)
$SHOP (-4.31%)
$UBER (+0.59%)
$DIS (+0.16%)
$RIOT (-8.65%)
$CIRC
$NOVO B (-8.33%)
$U (-5.08%)
$SNDK (-8.73%)
$APP (-2.64%)
$WDC (-0.89%)
$ELF (+0.63%)
$MELI (-0.65%)
$AXON (+0.93%)
$TTMI (-2.2%)
$RDW (+1.22%)
$QBTS (+0.32%)
$DDOG (-2.32%)
$CLA (+0%)
$FI (+0.27%)
$LNG (+3.49%)
$UUUU (-2.46%)
$HIMX (+0.92%)
$ABNB (-0.05%)
$RGTI (+0.24%)
$TTD (-1.51%)
$AAOI (-0.07%)
$TXG (-4.82%)
$INOD (+3.71%)
$OUST
$MP (-1.51%)
$OKLO
$VST (-0.94%)
$TTWO (-1.79%)
$ACMR (-0.29%)
$WEED (+0.92%)
$UAA (-4.06%)

The slight setback following the figures from $CARR (+0.66%) and the weakness in $ACLN (-0.63%) to make a small additional purchase. I also did the same with $NESN (-2.1%) and $MCD (-0.06%) I made small one-time purchases outside of my savings plans.

I’m already very excited about the $ABBV (-2.62%) and $NOVO B (-8.33%) results.

Other than that, the portfolio also hit a new all-time high 🤓

Summary:

Yes—based on the key metrics, Novo Nordisk is cheaper than it has been in a long time: An estimated P/E ratio of just 11.6 for 2026 is well below the historical ten-year average of over 23, coupled with a dividend yield that at times reached 4.4%. The catch: The stock is still trading about 46% below its all-time high, and the company is battling on several fronts at once. On July 16, 2026, the decisive Phase 3 data for the promising drug CagriSema were locked away—the results could be released at any time. On July 21, 2026, Novo Nordisk sued its archrival Eli Lilly for misleading advertising. On the same day, Trump announced new tariffs on the pharmaceutical industry—but upon closer inspection, these primarily affect generic drug manufacturers and won’t take effect until 2028, leaving Novo Nordisk’s patent-protected core business untouched. Cheap, yes—but is the low price justified in this case?

Key points:

• 2026 P/E ratio (estimated): 11.6 — well below the 10-year average of 23.36

• Dividend yield: currently approx. 3.7%, at times as high as 4.4% during the annual low in March

• CagriSema Phase 3 data withheld since July 16, 2026—publication possible at any time

• Lawsuit filed against Eli Lilly on July 21, 2026, for misleading advertising

• Trump tariffs (July 21): 100–200% on generic drugs starting in 2028/2029 — Wegovy/Ozempic are patent-protected and not directly affected

• Share buyback: up to 15 billion DKK — 44% of the annual target already achieved

• Wegovy pill: fifth global approval, over 3 million U.S. prescriptions since January

• GLP-1 market share in the U.S.: now only about 40% — Eli Lilly at about 60%

• Next quarterly results (Q2): August 5, 2026

How are you going to handle $NOVO B (-8.33%) now??

A quick note before we begin: I’ve significantly shortened the entire post to make it easier to read. Going forward, you’ll only be able to find some of the key metrics in my YouTube video or on Instagram. I’ve also completely removed the outlook section and the narrative text in between.

I hope you like the shorter version. 😊

I’ve had an eventful month! While things were relatively quiet on the markets, I was able to celebrate some real milestones in my passive income. My financial journey has been solid, calm, and steadily upward, just like hiking in Saxon Switzerland. When the foundation is right and your habits are in place, the daily market noise loses all its fear.

Here are the hard facts and all the key metrics from June:

Portfolio Performance: Stable Returns & Beat the Benchmark 📈

Total performance (TTWROR):
+0.57% for the reporting month (96.80% since inception)

Internal Rate of Return (IRR):
+0.79% (+12.29% since inception)

Delta: A hefty gain of +778.41 €

Benchmark comparison with the TTWROR of the following ETFs:

$VWRL (+0%) : -0.33%

$VUSA (+0.38%) : -0.41%

$IMEU (-0.33%) : +3.22%

Largest individual stock positions by volume as a percentage of the total portfolio:

$AVGO (+0.03%) : 2.78%

$WMT (+0.07%) : 1.62%

$GOOGL (+6.34%) : 1.54%

$CSCO (+2.48%) : 1.50%

$FAST (+1.98%) : 1.42%

Smallest individual stock positions by volume as a percentage of the total portfolio:

$GIS (-0.64%) : 0.43%

$NKE (+0.08%) : 0.43%

$NOVO B (-8.33%) : 0.49%

$CPB (-0.42%) : 0.49%

$BATS (-1.11%) : 0.57%

Top-performing individual stocks

$AVGO (+0.03%) : +332.73%

$GOOGL (+6.34%) : +134.74%

$CSCO (+2.48%) : +115.98%

$WMT (+0.07%) : +94.59%

$OHI (+0.55%) : +88.06%

Worst-Performing Individual Stocks

$NKE (+0.08%) : -50.39%

$GIS (-0.64%) : -47.00%

$CPB (-0.42%) : -36.10%

$NOVO B (-8.33%) : -20.48%

$DHR (-0.03%) : -18.41%

Asset Allocation

ETFs and stocks are not quite balanced yet.

ETFs: 43.7% (previous month: 43.4%)

Stocks: 56.3% (previous month: 56.6%)

Investments and Additional Purchases

Planned savings plan amount from fixed net salary: €1,080

Savings rate of the savings plans as a percentage of fixed net salary: 50.60%

Planned savings plan amount from fixed net salary, including reinvested dividends based on plan size: 1,200 €

Additional purchases from various sources: €392.83. This is offset by sales of €286.36 this month (portfolio rebalancing $FDXF (+1.83%) into $FDX (-0.02%) ).

Passive income from dividends and ETF distributions

Dividends and ETF distributions: €174.33 (€152.30 in the same month last year

Change from the same month last year: +14.46%

YTD dividends and ETF distributions: €1,088.83

Annual target: €2,100

Target achievement: 51.85% (Target: 50.00%)

Risk Metrics

Maximum drawdown in the reporting month: 1.15%, since inception: 17.17%

Maximum drawdown duration in the reporting month: 10 days; since inception: 702 days

Volatility in the reporting month: 1.72%; since inception: 28.79%

Sharpe Ratio, for the reporting month: 5.53, since inception: 0.42

Semivolatility, for the reporting month: 1.01%, since inception: 21.33%

Thank you for reading. 🚀

Now please leave me a comment. Is this summary helpful? Is there anything you think is missing? Let me know.

👉 This review is also available as a YouTube video and as Instagram carousel posts, which will be published as follows:

July 8, 2026: Portfolio review on Instagram (performance metrics, stock performance, allocation, sectors, additional purchases, and performance comparisons)

July 9, 2026: Budget review on Instagram (income, expenses, cash flow, ratios, budget adherence, and basic income check)

July 10, 2026: Cash flow review on Instagram (overview, YTD, and actual vs. target comparison for passive income, my top dividend payers, FIRE number, and capital reach)

Sometime during Week 28: Consolidated monthly review on YouTube

📲 You can find regular videos, Shorts, Reels, and carousel posts on the topics of frugalism, mindset, and investing at @frugalfreisein on Instagram and YouTube.

Please pay close attention to the spelling of my alias. Unfortunately, there are too many fake and phishing accounts on social media. I’ve already been “copied” several times.

Today I purchased the second tranche of my $NOVO B (-8.33%) position. I’m currently planning one more purchase to build up my desired initial position. Once I’ve reached that level, I’ll continue to grow the position—like many of my investments—through a savings plan.

Hims & Hers $HIMS (+2.22%) has likely been one of the most emotionally charged stocks on the market in recent months. Anyone who bought in during the dip around February or March is now sitting on a massive profit, depending on their entry price. In some cases, the stock has risen nearly 3x from its low.

And that’s exactly where it gets interesting for me:

For many, a rally like that would probably have been the perfect moment to take profits. That’s understandable. Especially after a rally like that, especially with a stock that’s highly volatile, has a high short interest, and is surrounded by a lot of drama involving GLP-1, the FDA, Novo Nordisk, and compounding.

For me personally, however, selling wasn’t really an option.

Not because I’m blindly in love with the stock. But because my original investment thesis hadn’t been invalidated. On the contrary: I felt that the market had punished Hims too harshly during the panic phase. That’s why I bought at around €18 .

In hindsight, that was of course a very important turning point in my position. But the reason wasn’t “gambling”—it was the question: Had fundamentals deteriorated, or was fear simply priced in?

My answer at the time: The thesis still holds.

Why Hims Is More Than Just GLP-1 Hype to Me

Many people currently reduce Hims to weight loss and GLP-1. Sure, that’s the biggest driver of the stock price in the short term. But for me, Hims is more of a platform story in the long term.

Hims is essentially building a digital health platform for issues that make many people hesitant to see a doctor in the traditional sense:

hair loss, ED, mental health, dermatology, weight loss, hormones, lab tests, and—looking ahead—an increasing number of personalized treatments.

What’s exciting isn’t just a single product. What’s exciting is the direct access to customers, the brand, the platform, the data, the repeat purchase rates, and the opportunity to integrate more and more categories into this funnel.

If Hims manages to transform itself from a “telehealth provider” into a true consumer healthcare platform, then in my view, the current valuation isn’t absurd. In that case, this is more like the early stage of a much bigger story.

Novo Nordisk $NOVO B (-8.33%)
has simplified a lot

Of course, we have to be honest: the partnership with Novo Nordisk has simplified a lot of things.

Previously, there was major uncertainty: How sustainable is the GLP-1 business if the regulatory environment tightens? What will happen with compounding? How aggressively will Novo take action against Hims?

With the new partnership, a large part of this uncertainty has at least been alleviated.

Through the partnership, Hims gains access to FDA-approved drugs such as Wegovy/Ozempic and GLP-1 products via the platform. At the same time, Hims can structure its weight-loss strategy in a cleaner and more regulatory-compliant manner.

To me, this means the narrative is no longer just “Hims vs. Big Pharma,” but potentially more like “Hims as a distribution channel and digital platform for Big Pharma.” And that’s a completely different perspective.

What’s important now:

After such a sharp rise, Hims is of course no longer “cheap as in panic mode” in the short term. The stock has already priced in a lot of this. That’s why the next few months will be crucial.

For me, the focus is primarily on these points:

1. The next quarter

The next quarter will be extremely important because the market wants to see whether the Novo deal and the new weight-loss strategy are truly reflected in the numbers.

For Q2 2026, Hims itself expects revenue of $680 to 700 million. After Q1 2026, revenue stood at approximately $608 million, with the number of subscribers at nearly 2.6 million , and the annual guidance was revised to $2.8 to $3.0 billion in revenue . This is exactly what Hims will now be measured against.

So the question is:

Can Hims return to stronger growth without completely sacrificing margins?

2. GLP-1 / Weight Loss

Weight loss remains the most important catalyst in the short term. The market wants to see how strong demand is for the new offerings and whether Hims can truly carve out a sustainable place in the GLP-1 ecosystem.

This isn’t just about revenue. It’s also about whether Hims can retain customers in the long term and whether weight loss serves as an entry point for further treatments.

3. Peptides / Personalized Medicine

For me, this is one of the most exciting aspects. Hims doesn’t just want to “resell” medications; it aims to move more toward personalized care.

Peptides, individualized treatment models, in-house pharmacy operations, and digital support could become a huge trend in the long term. Of course, this is a sensitive regulatory issue and not without risk. But this is precisely where the leverage lies: If Hims manages to offer personalized medicine in a scalable, affordable, and trustworthy way, the platform will become significantly more valuable.

4. International Expansion

I believe expansion is an underestimated factor. With the acquisition of Eucalyptus, Hims has significantly expanded its international footprint. Eucalyptus operates in markets such as Australia, Japan, the UK, Germany, and Canada and, according to Reuters, had already served over 775,000 customers.

This is important because it means Hims isn’t solely dependent on the U.S. market. Especially when regulatory issues in the U.S. continue to create pressure, international expansion can become a real stabilizing factor.

5. Margins and Profitability

Q1 wasn’t perfect. While revenue rose, profitability took a hit. Hims reported a net loss of approximately $92 million for Q1 2026, following a net profit in the same quarter of the previous year. The gross margin stood at 65% compared to 73% in the prior year.

We need to keep an eye on this... Growth alone isn’t enough. Hims needs to demonstrate that the new mix of GLP-1, expansion, and platform business can deliver strong margins again in the long term.

Why I’m holding on

My investment thesis isn’t: “Hims is rising because the stock has momentum right now.”

My thesis is more like this:

Hims could evolve from a niche telehealth provider into a global digital healthcare platform.

And as long as this thesis holds, I see no reason to panic-sell due to short-term volatility. Sure, after a 3x gain, you have to take risk management more seriously. I understand anyone who takes partial profits. But for me personally, the story isn’t over yet.

On the contrary: I believe that many market participants still don’t fully understand Hims. Some only see GLP-1. Some only see regulatory risk. Some only see the rapid price surge.

I see a platform that’s currently trying to rethink one of the biggest industries of all: healthcare.

My Conclusion

Hims is not a stock for the faint of heart. The stock can rise by double digits in a single day and be sold off just as brutally. Anyone investing here must be able to handle volatility.

But it’s precisely these kinds of stocks that can also deliver enormous returns over the years if the fundamentals are right.

For me, Hims therefore remains one of my most exciting holdings. The rally since February has been strong, but I don’t see it as the end of the story. Rather, I view it as a revaluation following a period of extreme uncertainty.

The coming quarters will show whether Hims deserves this vote of confidence.

I’m staying invested—not blindly, but with conviction.

This is not investment advice. Cheers to the Hims shareholders!

My first profitable quarter with $NOVO B (-8.33%) . It’s also the only position in my portfolio that’s in the red…

No action needed—I’ve been holding it since Q4/24