$VZ (+2.71%)
$P911 (+1.5%)
$NOVN (+0.72%)
$PYPL (+0.33%)
$SOFI (-2.02%)
$UPS (+1.64%)
$GLW (-1.27%)
$KO (+1.04%)
$RCL (-1.14%)
$NXPI (-1.12%)
$V (+0.9%)
$STX (-5.93%)
$HOOD (-4.78%)
$SKHY (-5.04%)
$MBG (+0.05%)
$DBK (-3.1%)
$GEV (-0.52%)
$TER (-6.27%)
$ADYEN (+0.67%)
$WM (+1.22%)
$AIR (-2.04%)
$GOOGL (-0.69%)
$CMG (+3.25%)
$FTNT (-2.08%)
$NOW (-2.57%)
$KLAC (-2.85%)
$MSFT (-1.17%)
$CVNA (+2.07%)
$006400
$VOW3 (-0.4%)
$BMY (+2.27%)
$INCY (+3.95%)
$CAT (-2.41%)
$N1CL34
$MO (+1.91%)
$MA (-0.33%)
$AIXA (-3.96%)
$LLY (+3.27%)
$SBUX (-0.05%)
$RDDT (-14.17%)
$RBLX (-4.11%)
$ILMN (-6.68%)
$SNDK (-10.39%)
$INTC (-10.86%)
$MDLZ (-1.3%)
$COIN (-9.52%)
$AMZN (+4.06%)
$TWLO (-1.65%)
$PINS (+3.79%)
$285A (-15.77%)
$CL (+2.64%)
$GD (+2.09%)
$ABBV (+1.06%)
$PUM (+5.33%)
$CVX (+1.42%)

Hello, friends of joyful investing,

I’d like to share another milestone with you—one that came sooner than expected:

The portfolio has surpassed the 400k mark.

First off: This is just a snapshot. Markets aren’t a one-way street, and things can easily swing back in the other direction. Still, I’m happy about it and am consciously savoring the moment.

My strategy: Quality Growth with a strong moat

I continue to follow a quality growth approach. I look for companies with

• a strong, hard-to-attack moat (network effects, switching costs, technology leadership, market standards),

• high and stable margins that demonstrate the business model’s pricing power,

• high return on equity and the ability to profitably reinvest earnings,

• tailwinds from global megatrends such as AI, the cloud, cybersecurity, the digitization of payments, and healthcare.

My goal is actually quite simple: to invest in outstanding companies and then watch them grow as compounders over the years. Trade less, hold more.

Deliberately Concentrated

The concentration in the portfolio is intentionally high. I am convinced that companies like $NVDA (-3.21%), $GOOGL (-0.69%) , $MSFT (-1.17%) , $META (+0.21%) , $AMZN (+4.06%) , $AVGO (-3.47%) , $CRWD (-4.17%) , $ANET (-6.09%) and $ASML (-5.11%) will continue to benefit significantly from these megatrends in the future. This is complemented by high-quality companies with near-monopoly positions such as $V (+0.9%) , $MA (-0.33%) , $SPGI (+1.54%) , $MCO (+1.72%) and $CTAS (+1.99%) , which consistently deliver high margins.

Conclusion

Patience and conviction pay off when you invest in the right companies.

I’m sticking to my strategy and seeing how things play out.

What do you think: focus on quality, or is a broad diversification better? I look forward to hearing your thoughts!

Visa $V (+0.9%) reported strong growth in stablecoin-backed card programs: Payment volume in fiscal year 2026 has so far been nearly 200% higher than in the previous year. At the same time, Visa achieved an operating margin of approximately 59% —a testament to the enormous scalability of its global payment network.

My assessment: I’m not interested in the crypto hype, but rather in the combination of a moat, high margins, and additional transaction volume. Visa remains a quality stock in my view—provided the purchase price allows for attractive long-term returns. I’d welcome input from $MA (-0.33%) shareholders!

$MA (-0.33%)

$MA (-0.33%)

$MC (+0.72%)
$MBG (+0.05%)
$ULVR (+2.37%)
$PYPL (+0.33%)
$NBIS (-5.3%)
$SPGI (+1.54%)
$UPS (+1.64%)
$KO (+1.04%)
$GLW (-1.27%)
$BA (+0.45%)
$KER (+0.52%)
$ENPH (-0.55%)
$NXPI (-1.12%)
$STX (-5.93%)
$BE (-4.27%)
$V (+0.9%)
$MDLZ (-1.3%)
$000660
$P911 (+1.5%)
$BN (+1.77%)
$RMS (+2.2%)
$BAS (+0.01%)
$AG1 (+0.19%)
$LMND (-4.3%)
$SOFI (-2.02%)
$NDX1 (-2.61%)
$TER (-6.27%)
$GD (+2.09%)
$APH (-4.52%)
$AIR (-2.04%)
$SBUX (-0.05%)
$CMG (+3.25%)
$META (+0.21%)
$FTNT (-2.08%)
$QCOM (-8.27%)
$LRCX (-3.56%)
$HOOD (-4.78%)
$ARM (-4.47%)
$MSFT (-1.17%)
$CVNA (+2.07%)
$005930
$SU (-3.73%)
$INGA (-1.88%)
$OR (+2.98%)
$BMW (+0.03%)
$BATS (+1.18%)
$MA (-0.33%)
$ADS (+1.03%)
$SHEL (+0.85%)
$RACE (-0.67%)
$RDDT (-14.17%)
$TEM (-2.89%)
$COIN (-9.52%)
$AAPL (-0.84%)
$AMZN (+4.06%)
$CCO (-9.61%)
$LIN (+2.75%)
$ABBV (+1.06%)
$PUM (+5.33%)
$HAG (-2.14%)
$XOM (+1.29%)
$CVX (+1.42%)

Monday, July 27

10:00 a.m.: Germany Ifo Business Climate Index (Germany’s most important economic barometer)

2:30 p.m.: U.S. Durable Goods Orders

4:00 p.m.: U.S. Dallas Fed Index (Manufacturing)

Tuesday, July 28

4:00 p.m.: US CB Consumer Confidence (July)

4:00 p.m.: US JOLTS (Job Openings—important for the US labor market)

Wednesday, July 29

8:00 p.m.: US Fed Interest Rate Decision 🌶

8:30 p.m.: US Fed Press Conference

Thursday, July 30

10:00 a.m.: DE Gross Domestic Product (Q2)

2:00 p.m.: German inflation rate (July) 🌶

2:30 p.m.: U.S. core PCE (Fed’s preferred inflation indicator) & initial jobless claims 🌶

Friday, July 31

11:00 a.m.: EU inflation rate & GDP (Q2) 🌶

3:45 p.m.: US Chicago Purchasing Managers’ Index

$PYPL (+0.33%)
$KO (+1.04%)
$BA (+0.45%)
$MSFT (-1.17%)
$V (+0.9%)
$AZN (+7.53%)
$META (+0.21%)
$HOOD (-4.78%)
$AAPL (-0.84%)
$MA (-0.33%)
$XOM (+1.29%)
$CVX (+1.42%)
$CCO (-9.61%)
$ARM (-4.47%)
$QCOM (-8.27%)

$MA (-0.33%)

$MSFT (-1.17%)
$MA (-0.33%)

I can never get enough of awesome companies! My vacation couldn't have started any better!

Today I treated myself to 5 Microsoft shares and 3 Mastercard shares, since my checking account balance is getting out of hand and I've already taken care of all my major expenses, like buying a car last year.