Hello getquin community,

Over the past three months, I’ve continued to actively adjust my portfolio, focusing on long-term fundamentals, valuation discipline, and capital reallocation once targets were reached. Below is a summary of the key changes and the rationale behind them.

New Position

Adobe $ADBE (-3.69%)

I initiated a new position in Adobe based on several converging factors. The company continues to deliver strong annual growth in results, adding roughly $1 billion in revenue per year. The stock recently corrected sharply, reaching a key technical support level and now trades at a lower P/E multiple compared to previous years.

While debt levels have increased, they remain manageable and well covered by consistently positive cash flows. Adobe also maintains a disciplined capital return strategy, buying back around 10 million shares per year out of a total of ~400 million outstanding, supporting shareholder value over time.

Increased Positions

I increased my exposure to the following companies, either due to improved valuation, stronger conviction in their long-term outlook, or portfolio rebalancing considerations:

• PayPal $PYPL (-0.98%)
• 
  Verizon $VZ (-1.12%)
• 
  Novo Nordisk $NVO (+0.39%)
• 
  Solaria $SLR (+2.21%)
• 
  TeamViewer $TMV (-2.53%)
• 
  Comcast $CMCSA (-0.48%)
• 
  Merck & Co. $MRK (-0.75%)

These additions reflect a mix of defensive positioning, long-term growth opportunities, and businesses with resilient cash generation.

Sold After Reaching Targets

I exited the following positions after they achieved my predefined objectives:

• LVMH $MC (-0.25%)
• 
  Interpump $IP (-0.84%)
• 
  Alphabet $GOOG (+1.53%)

These sales were not driven by a deterioration in fundamentals, but rather by valuation and portfolio discipline—freeing up capital to deploy into opportunities with a more attractive risk-reward profile.

Final Thoughts

The portfolio evolution over the last quarter reflects a balance between fundamental strength, valuation awareness, and active risk management. I remain focused on businesses with durable competitive advantages, solid cash flows, and long-term growth potential.

Hello getquin community,

today $SLR (+2.21%) has released q3 results and mr. market has appreciated the operating margin with a +18% in this moment.

Personally, the target reached was predictable ‘cause simply has follow last three quarter.

The only thing I'm sorry about is not having discovered this opportunity when its value was €8 per share.

Do you agree? What’s your opinion on this stock?

Hello getquin community,

In the past few days, I’ve restructured my portfolio, focusing on companies with strong fundamentals, active buyback programs, and long-term strategies aimed at sustainable growth.

Here’s a breakdown of my latest moves 👇

💊 Novo Nordisk $NOVO B (+0.33%)

Following the recent market drop, I still see Novo Nordisk as an excellent company. Its restructuring plan focuses on cost reduction, revenue stability, and a lower debt level compared to 2024. The ongoing buyback program reinforces confidence in the company’s long-term outlook.

💳 PayPal $PYPL (-0.98%)

I increased my position after a strong quarterly report and the announcement of new strategic partnerships. I expect substantial revenue growth in the coming years. The company maintains a very low debt level and has a solid buyback plan in place.

💉 Merck & Co. $MRK (-0.75%)

I’ve also increased my stake here. Earnings are growing, margins remain strong, and cash flow is excellent. Merck continues to support shareholder value through its buyback program and disciplined financial management.

📶 Verizon $VZ (-1.12%)

I added to my position despite the recent drop, which I see as unjustified given the solid quarterly results. The dividend yield is attractive and sustainable. Debt remains high relative to equity, but it’s steadily declining. The only downside is the continuous, even if small, issuance of new shares.

🎬 Comcast $CMCSA (-0.48%)

I increased my holdings after the stock fell despite a quarterly report that was broadly in line with expectations. At current prices, Comcast remains a strong company with sustainable dividends, declining debt, solid cash flow, and an ongoing buyback program.

💻 TeamViewer $TMV (-2.53%)

After the sharp correction, I consider the stock attractive at current levels. The company is investing in AI, has strong margins, and maintains a positive cash flow. Debt levels are high but decreasing, while profits have shown excellent growth this year.

🌞 Solaria Energía $SLR (+2.21%)

Cash flow is currently negative due to heavy investments, but these are starting to bear fruit. The company targets a +60% increase in operating margin compared to 2024, with further growth expected into 2026.

Instead, what do you think about these companies?