$CCL (+5.34%) One of my long-term stocks has been trimmed back from overweight (4%) to normal size (2.5%). A few months ago I bought at €15 and €17 and have now partially sold at €25. The share will not disappear completely for me. I am hoping for a recovery of €30+. If it falls below €20 again, I will slowly overweight again. This game has been played from time to time for the last 5 years and the positive management of the debt, in addition to the constant good news, slowly speaks for a breakthrough.

$BAYN (-0.11%) I bought in at the beginning of April at €22, but have now decided to close the position at just under €27. I actually wanted to hold the share long, but somehow I can't warm to it. Perhaps it will find its way back into my portfolio at some point.

$AVGO (+1.24%) In the April crash, I bought the stock at €151 (2% weighting) using a Lombard loan (10% portfolio size), among other things, and the position has now been closed at €224. More was not my target recovery to old ATH.

$9618 (-0.4%) Unfortunately, this position was closed with a minus of 13%. The reason for this was the annual rebalancing in which the China portion had become too large for me. As I was convinced by $1211 (-1.99%) , $BABA (+0.83%) and $PDD (-0.69%) JD had to give way.

Portfolio purchase:

$OXY (-0.41%) Bought another small tranche. After the 10% slump, I had some capital left over, which was invested at 36.50. One of my larger individual bets with a 5% portfolio weighting.

A new addition to the portfolio is $TX (-0.51%) with a small position of 1%. The reason sounds stupid, but it's a little chat GPT experiment. I wanted to be told which stocks were selected according to the Columbia Buffet approach. I was given 5 suggestions, some of which were frankly garbage. But this stock somehow got me hooked. Which is why I took the risk with only 1% of my portfolio (just over 1k).

Note:

My single stock portfolio Smartbroker plus makes up 2/3 of the asset class equities.

1/3 are Etf's with Trade Republic.

In total, equities make up 90% of my investable assets.

In addition to my three equity ETFs, TR holds my real estate REIT ($O (+0%) approx. 5%), as well as my gold ETC ($SGBS (+0.05%) 2.5%) and my gold miner Etf ($GDXJ (+0.8%) 2.5%) which make up the remaining 10%.

Approximate total assets 100k (more like 95k :/ due to volatility) but debt free (except for a 3.5k balance on the Lombard loan). I have been investing since 2020 and am 28 years young.

🌍 Macro & markets:

Stock markets rose significantly, supported by a fragile ceasefire between Israel & Iran as well as falling oil prices. Additional tailwind was provided by signals from the Fed, which raised hopes of a summer interest rate cut.

✅ S&P 500 $SPY: +1.11% to 6,092

✅ Nasdaq 100 $QQQ: +1.53% to 22,190

✅ Dow Jones $DIA: +1.19% to 43,089

✅ Russell 2000 $IWM: +1.28% to 2,161

✅ 9 out of 11 sectors up - tech ($XLK +1.8%) ahead, energy ($XLE -1.3%) at the bottom

🚢 Consumer data & corporate news:

✅ Carnival $CCL (+5.34%)
: +6.91% - Strong figures with record sales, high ticket demand & record bookings for 2026. The forecast was raised, despite geopolitical risks the desire to travel remains unbroken.

⚠️ FedEx $FDX (-0.14%)
: After-hours -5%. Weak Asian demand forces 35% capacity cuts on transpacific routes. Full-year guidance lowered, shares down 17% YTD.

🤖 Developments in the robotaxi sector:

✅ Uber $UBER (+0.66%)
: +7.52% - launch of self-driving Waymo vehicles ($GOOG +1.04%) in Atlanta. Waymo with over 1 million autonomous miles & 150,000 paid rides/week.

✅ Lyft $LYFT (+0.21%)
: +6.09% - Analyst upgrade to "Buy", price target raised from $16 to $21.

📰 Other headlines:

⚠️ Fed officials dampen expectations:

• Bostic expects only one rate cut at the end of 2025, points to inflationary pressure from new tariffs.
• Barr confirms cautious stance, Powell signals "willingness to wait"

✅ OpenAI builds up competition from Microsoft & Google:

Own productivity suite announced directly in ChatGPT, including collaboration features.

✅ Anthropic achieves partial success:

AI training on copyrighted books classified as "fair use", piracy trial to follow in December.

✅ Broadcom $AVGO (+1.24%)
: New all-time high - optimism around AI chip pipeline, HSBC raises price target to $400.

✅ Nektar Therapeutics $NKTR (-0.11%)
: Share price doubles after convincing study on eczema drug, up to 90% symptom improvement.

🔎 Summary:

✅ Consumption & travel sector surprise positively

⚠️ Trade & logistics under pressure, especially Asian routes

✅ Robotaxi & AI with further momentum

⚠️ Fed remains cautious, next weeks in focus: tariffs & possible postponement of interest rate hikes

A return of almost 50 % plus a little tidying up of my portfolio. The position was too small anyway. I didn't want to buy more

Earnings next week 🗓️

$MU (+2.67%)

$NKE (+0.12%)

$CCL (+5.34%)

$FDX (-0.14%)

$RCAT (+4.97%)

$ACN

$BB (+1.5%)

$LEN (+0.01%)

$DRI

$CTAS (-0.3%)

$MAMA

$FDS (-0.27%)

$GIS (-0.15%)

$HEIA (+0.76%)

$ABM (+0%)

$WGO (-0.37%)

$AMTM (+0.02%)

$BIRK (-0.37%)

$REE

$TTC

$CAG

$AVO (+0%)

$MLKN (+0%)

$PAYX (+0.13%)

$KMX (-0.24%)

$FCEL

$SCHL (+0%)

$SCS

$WS (-0.09%)

$LW (-0.56%)

$QIPT

$CMP

$MITK (-1.09%)

$JBL (-0.15%)

$EPAC (+0.33%)

$OGI

$RICK (-0.4%)