The last few weeks have shown me that my portfolio is too cash flow-heavy and that I should focus more on dividend growth and growth stocks again. I have therefore spent the last few days looking at several of my stocks and scrutinizing overlaps, performance and cash flow. The result is a shift of around 10% of the portfolio towards more stability and growth with less risk.

Good and poor underperformers have been removed from the portfolio,

• $SBUX (-0.93%) Starbucks
• $GLAD (-0.61%) Gladstone Capital
• $KMB (+0.05%) Kimberly-Clark
• $KO (+0.24%) Coca-Cola

Reduced, the super run,

• $CAT (+0.23%) Caterpillar (insert completely pulled out)

New additions to the portfolio are the stocks that are currently very attractively valued in my opinion,

• $REL (-1.11%) Relx
• $SPGI (+0.63%) S&P Global

Stable stocks with potential for outperformance were added,

• $MCD (+0.2%) McDonalds
• $PEP (+1.26%) PepsiCo
• $AMGN (+1.06%) Amgen
• $ARCC (-0.62%) Ares Capital

Overall, I have reduced the number of positions somewhat, eliminated underperformers and at the same time shifted into stability and growth.

I feel very comfortable with this adjustment and will keep a close eye on what further adjustment potential I find in my portfolio.

In addition, I'm keeping around 10k dry in case things go downhill again if peace between the USA and Iran doesn't materialize after all... I have serious doubts that this will work out.

I've been taking a closer look at RELX $REL (-1.11%) a little closer lately - and for me it's a really exciting "hidden champion" that often runs under the radar 👀

Briefly about the company:

RELX is active in the field of data, analytics and specialist information - so it's not a classic "hype business", but rather a solid platform for knowledge and decision-making 📚

Customers include companies, lawyers, scientists and insurance companies.

Why I find the share interesting:

📈 Steady dividend growth

→ approx. 6-8% annually in recent years

→ very reliable increase, not a "random payer"

💰 Strong & stable cash flow

→ large proportion of revenue comes from subscriptions

→ predictable income = perfect basis for dividends

🔁 Recurring business model

→ high customer loyalty

→ Once you join, you often remain a customer for a long time

📊 Solid margins & efficiency

→ Scalable business model

→ Increasing profits without proportionally increasing costs

🌍 Resistance to crises

→ Data & information are always needed

→ Less cyclical than many industrial companies

What I particularly like:

RELX is not a company that entices with huge initial dividends ❌

But that's exactly what I see as a plus 👉 Focus is on continuous growth instead of short-term cash-out

My conclusion:

For me, RELX is a typical "long-term share" 🧠

✔ Solid business model

✔ Growing cash flow

✔ Increasing dividends

👉 Perfect for anyone who wants to build up a growing passive income over the years

I'm looking forward to your opinions - has anyone held RELX in their portfolio for a while?

Following the rebalancing of the S&P Quality Aristocrats last Friday, the following stocks were removed from or added to my two ETF indices (50% weighting):

New additions:

$QDEV (+0.54%): $NOVN (+0.38%) , $REL (-1.11%) , $ITX (+0.38%) , $LSEG (-1.5%) , $DB1 (-1.05%) and more

$QUS5 (+0.75%): $BKNG (+0.93%) , $MRK (+6.11%) , $CRM (+0.45%) , $UNP (+0.33%) , $COR (+3.81%) , $CAH (+0.29%) and more

Kicked out of both indices and therefore according to S&P no longer Quality Aristocrats are among others: $BATS (-0.92%) , $7974 (-1.53%) , $HD (+0.2%) , $LOW (-0.82%) , $HLT (-0.2%)

In addition, the allocation of all individual stocks in the indices was reduced again to max. 5 % was limited.

Thanks to the recent rally of $$HY9H (-4.55%) my current top 10 weighting (ETFs+shares) is as follows:

3.48% Alphabet

3.04% SK Hynix

3.04% Broadcom

2.93% Meta

2.75% Microsoft

2.71% Apple

2.71% NVIDIA

2.55% Taiwan Semiconductor

2.13% Mastercard

2.08% Visa

New portfolio key figures:

P/E: 27.1 (<30) 🟢

Forward P/E: 21.1 (<25) 🟢

P/Β: 11.5 (<5) 🔴

EV/FCF: 28.7 (<25) 🟡

ROE: 42% (>15%) 🟢

ROIC: 19% (>15%) 🟡

EPS growth for the next 5 years: 15% (>7%) 🟢

Sales growth for the next 5 years: 9% (>5%) 🟡

My internal rate of return is currently 20.19%

$REL (-1.11%)

The real treasure is the data - and even AI won't shake it 😌

How much do you $REL (-1.11%) in the long run ?

In an increasingly digital world with more and more data, I find this business model very interesting.

I think data analysis in the financial sector and databases in general will be in high demand in the future.

Be it for credit inquiries from banks, analyses of important topics with high relevance or databases for storing and processing sensitive data.

I would currently like to create a kind of ETF with stocks that will benefit from the 2nd AI wave.

This includes users of AI and companies that are involved in the transformation of data centers and chip production.

e.g. $QCOM (+12.04%)
$SNPS (+4.39%)
$REL (-1.11%)
$ABBV (-0.13%)
$TSLA (+0.31%) etc.

I don't want to have tech giants like Amazon, Alphabet and co in it. Do you have any cool (even small) ideas for AI users?

The trend is your friend - perhaps we will succeed in $relx (-1.11%) the upward trend 🤑🤞🏽