Today I reduced my semi-ETF by 20% to bring the weighting from 15% to 10%.

No single position has a total weighting (ETF+single stock) above 5%, which is also my threshold. I always want to stay below 5% exposure.

My forward P/E of the portfolio has also fallen to 23, which is below my target of <25, despite the high tech allocation.

This means that my tech sector weighting is now in line with my world ETF $QDEV (+0.4%)which contains around 40-49% tech. I'm happy with that. I'm just still tech-bullish.

I have also reduced the USA region to 63%, almost identical to my world ETF (61%), and thus within my target range of 60-69%.

My favorites in the semi area remain anyway $TSM (+1.1%) and $HY9H (-1.47%) which I bought cheaply and undervalued as individual positions.

$NVDA (+1.11%) is and remains king, but I do not believe that the annual return will remain above 10% in the next few years, for this the market cap would have to grow by 400 billion every year, which I think would be difficult. $AVGO (-0.76%) currently has a P/E 5x greater than forward P/E, which shows that analysts are extremely bullish on future earnings. I am also bullish, but not as strongly, so the stock has already run very hot.

My top 10 holdings with 32% total weighting are currently:

4.95% $TSM (+1.1%) Taiwan Semi

4.65% $NVDA (+1.11%) NVIDIA

4.55% $GOOG (-0.38%) Google

4.47% $AVGO (-0.76%) Broadcom

2.85% $MSFT (-0.23%) Microsoft

2.63% $META (-2.14%) Meta

2.37% $AAPL (-0.05%) Apple

2.04% $ASML (+0.76%) Asml

1.95% $HY9H (-1.47%) SK Hynix

1.91% $JPM (+0.47%) JPMorgan

$GOOGL (-0.37%)
$MSFT (-0.23%)
$AAPL (-0.05%)

Perplexity is said to have offered Google 30 billion dollars for Chrome. But in five years' time, nobody will need a browser - AI will become the interface to the internet, controlled by voice.

By Luca Caracciolo

13.08.2025, 15:30

https://t3n.de/news/warum-in-fuenf-jahren-niemand-mehr-browser-nutzen-wird-1702417/

The 94-year-old star investor is investing in new shares, according to data published by the US Securities and Exchange Commission (SEC) on Friday night. The document also reveals the identity of a position that was built up in secret.

Berkshire takes a stake in United Health

For two quarters, Berkshire had secretly built up a position in a share without having to disclose it. The process is not unusual. It typically happens when Berkshire builds up large positions and does not want copycats to drive up the price.

It is the US insurer United Health $UNH (+3.05%)

After Buffett's entry became known, the share price shot up by over eight percent in the aftermarket. Since the beginning of the year, however, it is still down around 45 percent.

The majority of analysts are confident that United Health will soon overcome its difficulties. According to the financial service LSEG, 19 out of 28 experts currently recommend buying the share. Their average target price of 313.50 dollars is a good 15 percent higher than Thursday's closing price.

Four more buys

At steel producer $NUE (-0.41%) Nucor, Berkshire held 6.6 million shares worth 857 million dollars as at June 30. At the house building company $DHI (+0.38%) DR Horton amounted to 191 million dollars, at the outdoor advertising company $US5128152007 Lamar Advertising to 142 million dollars and $ALLE (+0.35%) Allegion, a manufacturer of locking systems, to 112 million dollars.

All four shares are rather insignificant in Berkshire's portfolio. Together they are only worth 1.3 billion dollars - just 0.5 percent of the total portfolio.

The most important position that was increased, on the other hand, is the oil company $CVX (+0.03%) Chevron. Berkshire increased its position here for the first time since the fourth quarter of 2023. It grew by just under three percent.

Berkshire also increased its position in $POOL (-0.8%) Pool, which claims to be the world's leading distributor of swimming pool accessories (up 136 percent), as well as beverage manufacturer $STZ (-1.06%) Constellation Brands (up eleven percent), the aerospace company $HEI (-0.55%) Heico (up eleven percent) and the pizza chain $DPZ (+0.18%) Dominos Pizza (up 0.5 percent).

Berkshire's equity portfolio continues to shrink

Sold 20 million $AAPL (-0.05%) Apple shares and securities of $BAC (+1.76%) Bank of America and $DHI (+0.38%) D.R. Horton, and the company also completely divested itself of $TMUS (+0.64%) T-Mobile US.

In the second quarter, Berkshire also sold shares in the cable television company $CHTR (+0.45%) Charter Communications (down 46.5 percent), the healthcare group $DVA (+0.19%) Davita (down 3.8 percent) and the media company $FWONA (+1.15%) Liberty Media (2.5 percent).

Buffett also sold shares in Davita in the current quarter. Although Davita is still the tenth largest position in the Berkshire portfolio, it has shrunk by eight percent since March 31. Since the beginning of the year, it has even fallen by almost eleven percent.

Source: Text (excerpt) & graphics: Handelsblatt, 15.08.2025

#momentum Strategy week 33

Hello my dears,

stocks mentioned so far were

$MP (-3.12%)
$NBIS (-0.82%)
$LMND (+2.02%)
$AAPL (-0.05%)
$BMNR (-2.63%)

$ELF (+4.63%)
$9868 (+0.29%)
$XPEV (+0.45%)
$UCG (-1.88%)
$PRY (+0.69%)

$G1A (+0.27%)
$LOTB (+0.31%) +10% $UFPT (+1.25%) +9,34%. $AHT (-0.8%) 7,15%. $UNH (+3.05%) 20,26%

$ETH (-3.02%)
$NB (-0.8%)
$VLA (+5.67%)

$HOT (+2.18%) +13%. $CWCO (+0%) +14%

$ALV (-0.95%) +6,4 %. $MAIN (-0.28%) +5,3%. $TUI1 (-2.94%) +18,3%

My shares would be

$MU (+1.47%) +17%. $GILT (-0.33%) +20%. $APP (+0.04%) +17%

The shares are for identification purposes only.

And does not constitute a buy recommendation.

An analysis and evaluation of the multiples should definitely be carried out here.

You are also welcome to share your results with us.

I look forward to hearing more about your performers.

I had been planning for some time to gradually reduce my position in $AAPL (-0.05%) gradually by around 85% - but my target price has not been reached since February. But now it's over for me: my World ETF and the S&P 500 ETF are completely sufficient for my Apple exposure.

AI is strong and currently leading the market, but a certain gut feeling is increasingly warning me that this bubble could burst sooner or later.

My cash holding now stands at around 15% - ready for the next setback.

My next goal is to increase my individual shareholdings in $AMZN (+0.11%) and $GOOGL (-0.37%) reduce them further.

Due to the rise of $AAPL (-0.05%) the last few days, I am back in the black and have been considering reducing my position significantly or closing it completely and investing it in $PLTR (-2.02%) and put it into

What do you think?