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207I am currently restructuring my portfolio and would like to keep the ACWI as the core and have a mix of growth and quality individual stocks with a long investment horizon as satellites. I have currently selected the following stocks:
However, this selection is very tech and USA focused. Do you have any suggestions or alternatives? For example, I have $LIN (-0,75 %) , $SAP (-0,17 %) , $SIE (+1,55 %) and $CAT (+3,33 %) or $DE (+0,53 %) on the watchlist. What do you think?
The hype is all about humanoid robots, but the constant winners are in the background.
I have divided the analysis into two perspectives. 1. the complete value chain of humanoid robots, which shows all the players from the chip to the finished robot, and 2. the blade manufacturers in the background, who always earn money as enablers, regardless of which manufacturer wins the race.
ASML, Applied Materials and Tokyo Electron dominate in manufacturing technology. Quality assurance comes from Keysight, Advantest and Teradyne. Chip design is supported by Synopsys, Cadence and ARM. Data streams are secured by Arista Networks, Cisco and Equinix. The computing basis is created in the cloud by Amazon, Microsoft and Alphabet. Albemarle, Lynas and Umicore play a central role in raw materials and battery materials. These companies monetize their customers' investment waves, have high barriers to entry, service revenues and pricing power, but remain cyclical with risks from export rules, capex cuts and currency movements.
🌐 Value chain of humanoid robots Sector overview
1. research & chip design (IP / EDA)
$ARM (+2,7 %)
ARM Holdings (ARM, UK/USA) - CPU architectures
$SNPS (+1,24 %)
Synopsys (SNPS, USA) - Chip design software
$CDNS (-0,98 %)
Cadence Design Systems (CDNS, USA) - EDA & Simulation
2. manufacturing technology & equipment
$ASML (+1,56 %)
ASML (ASML, NL) - EUV lithography, key monopoly
$AMAT (+0,8 %)
Applied Materials (AMAT, USA) - Process equipment
$8035 (-0,46 %)
Tokyo Electron (8035.T, JP) - Wafer equipment
$KEYS (+2,9 %)
Keysight Technologies (KEYS, USA) - Test & RF measurement technology
$6857 (+0,68 %)
Advantest (6857.T, JP) - Semiconductor test systems
$TER (+4,94 %)
Teradyne (TER, USA) - Test systems + robotics (Universal Robots)
3. chip production (Foundries)
$TSM (+1,48 %)
TSMC (TSM, TW) - Largest contract manufacturer
$005930
Samsung Electronics (005930.KQ, KR) - Memory + Foundry
$GFS (+4,66 %)
GlobalFoundries (GFS, USA) - Specialized production
4. computing & control unit ("brain")
$NVDA (+0,78 %)
Nvidia (NVDA, USA) - GPUs, AI accelerators
$INTC (+3,61 %)
Intel (INTC, USA) - CPUs, FPGAs
$AMD (+1,57 %)
AMD (AMD, USA) - CPUs/GPUs
$MRVL (+1,97 %)
Marvell Technology (MRVL, USA) - Network/data center chips
5. sensors ("senses")
$6758 (+2,84 %)
Sony (6758.T, JP) - CMOS image sensors
$6861 (-0,55 %)
Keyence (6861.T, JP) - Vision systems, sensors
$STM (+5,38 %)
STMicroelectronics (STM, CH/FR) - MEMS sensors
6. actuators & power electronics ("muscles")
$IFX (+1,62 %)
Infineon (IFX, DE) - Power semiconductors, SiC
$ON (+5,51 %)
N Semiconductor (ON, USA) - SiC/Power Chips
$STM (+5,38 %)
STMicroelectronics (STM, CH/FR) - Motor control & power
$TXN (+1,46 %)
Texas Instruments (TXN, USA) - Motor control, power ICs
$ADI (+0,92 %)
Analog Devices (ADI, USA) - Energy & BMS chips
7. communication & networking ("nerves")
$QCOM (+1,28 %)
Qualcomm (QCOM, USA) - 5G/SoCs
$AVGO (+0,59 %)
Broadcom (AVGO, USA) - Network & radio chips
$SWKS (+2,69 %)
Skyworks Solutions (SWKS, USA) - RF components
8. energy supply
$300750
CATL (300750.SZ, CN) - Batteries
$6752 (+2,13 %)
Panasonic (6752.T, JP) - Batteries for automotive/robotics
$373220
LG Energy Solution (373220.KQ, KR) - Batteries
9. cloud & infrastructure
$AMZN (+2,06 %)
Amazon (AMZN, USA) - AWS
$MSFT (-0,35 %)
Microsoft (MSFT, USA) - Azure
$GOOG (+2,17 %)
Alphabet (GOOGL, USA) - Google Cloud
$EQIX (+1,44 %)
Equinix (EQIX, USA) - Data center operator
$ANET (-0,04 %)
Arista Networks (ANET, USA) - Network infrastructure
$CSCO (-0,36 %)
Cisco Systems (CSCO, USA) - Edge & Data Center Networks
10. software & data platforms
$PLTR (+1,15 %)
Palantir (PLTR, USA) - Data integration, decision software
$DDOG (+0,12 %)
Datadog (DDOG, USA) - Cloud monitoring / observability
$SNOW (+0,21 %)
Snowflake (SNOW, USA) - Cloud-native data platform
$ORCL (+0,5 %)
Oracle (ORCL, USA) - Databases, ERP
$SAP (-0,17 %)
SAP (SAP, DE) - ERP/cloud systems
$PATH (+1,5 %)
UiPath (PATH, USA) - Automation software (RPA)
$AI (+2,89 %)
C3.ai (AI, USA) - Enterprise AI platform
11. end applications / robots
$ABB
ABB (ABB, CH) - Industrial robots
$6954 (+0,65 %)
Fanuc (6954.T, JP) - Industrial robots, CNC
$TSLA (+5,25 %)
Tesla (TSLA, USA) - Optimus" humanoid robot
$9618 (+1,18 %)
JD.com (JD, CN) - E-commerce & automated logistics
🛠️ Shovel manufacturer for humanoid robots
🔹 Hardtech (physical "shovels")
These companies provide the material basis: manufacturing machines, raw materials, semiconductor base.
Semiconductor Equipment & Manufacturing
$ASML (+1,56 %)
ASML (ASML, NL) - EUV lithography (monopoly).
$AMAT (+0,8 %)
Applied Materials (AMAT, USA) - Wafer equipment.
$8035 (-0,46 %)
Tokyo Electron (8035.T, JP) - Process equipment.
Test systems (hardware-side)
$6857 (+0,68 %)
Advantest (6857.T, JP) - Semiconductor test.
$TER (+4,94 %)
Teradyne (TER, USA) - Test systems + industrial robots.
Materials & raw materials
$ALB (+2,35 %)
Albemarle (ALB, USA) - Lithium (batteries).
$LYC (-1,08 %)
Lynas Rare Earths (LYC.AX, AUS) - Rare earths for magnets.
$UMICY (+2,47 %)
Umicore (UMI.BR, BE) - Cathode materials, recycling.
🔹 Soft/infra (digital "shovels")
These companies supply the infrastructure & toolswithout which development, training and operation would be impossible.
Design Software & IP
$SNPS (+1,24 %)
Synopsys (SNPS, USA) - EDA software.
$CDNS (-0,98 %)
Cadence Design Systems (CDNS, USA) - Chip design & simulation.
$ARM (+2,7 %)
ARM Holdings (ARM, UK/USA) - CPU architectures (license model).
Test & Measurement (software/signal level)
$KEYS (+2,9 %)
Keysight Technologies (KEYS, USA) - Electronics & RF test systems.
Network & data center backbone
$ANET (-0,04 %)
Arista Networks (ANET, USA) - High-speed networks.
$CSCO (-0,36 %)
Cisco Systems (CSCO, USA) - Data center/edge networks.
$EQIX (+1,44 %)
Equinix (EQIX, USA) - Data centers (colocation).
Cloud infrastructure
$AMZN (+2,06 %)
Amazon (AMZN, USA) - AWS (cloud, AI training).
$MSFT (-0,35 %)
Microsoft (MSFT, USA) - Azure.
$GOOG (+2,17 %)
Alphabet (GOOGL, USA) - Google Cloud.
Takeaway: Investing in the infrastructure stack allows you to participate in the robotics trend regardless of the subsequent product winner and reduces the individual product risk, but you have to live with cycles. In your opinion, which stage of the chain offers the best risk/return combination and fits into a disciplined portfolio?
Source: Own analysis based on publicly available company information and IR materials of the companies mentioned.
Image material: Techa Tungateja/iStockphoto
...it's not directly about the stock market, but about the (other) most beautiful minor matter in the world 😁
But also indirectly about $BVB (+0,2 %)
$BAYN (+1,62 %)
$VOW (+1,11 %)
$SAP (-0,17 %)
$MNST (-3,27 %) *
We are already a good two dozen tipsters, but would love to have more ✌️
https://www.kicktipp.de/tippers-of-getquin/
Greetings
🥪
*or a competitor 😉
How wonderful is our community here? 🫶
There is such a wide range of exchange possible here: from shares and ETFs to crypto and general financial knowledge to special investment products and strategies 🎉🌐🌀
...plus things like this #bierchallange / #bierchallenge 😁
I would like to give something back to the community and have started a betting game for the First Bundesliga (⚽@🇩🇪):
https://www.kicktipp.de/tippers-of-getquin/
If you're interested, just click on the link to join (the platform is Kicktipp). I would be happy to see some of you there 🤜🏻🤛🏻...please use the same username as here 😘
#tipping game
Greetings
🥪
Midsummer should be in full swing in July, but summer prefers to take a breather. While the temperatures outside were rather cool for most of July, which fortunately didn't keep me from swimming and hiking, it was hot in the depot. Time for a look back.
Overall performance
In July, the portfolio made a significant leap upwards, possibly due to further crypto adoption, good labor market data, robust quarterly reports and a further decline in inflation in a positive environment. The big icing on the cake is of course the continued incoming cash flow from dividends and distributions. My key performance indicators are:
Performance & volume
Size of individual share positions by volume in the overall portfolio:
Smallest individual share positions by volume in the overall portfolio:
Top-performing individual stocks
Flop performer individual shares
Asset allocation
My asset allocation is as follows:
Investments and subsequent purchases
Here is a small overview of what I have invested via savings plans according to my fixed planning.
In addition, there were the following additional investments from returns, refunds, cashback, etc. as one-off savings plans/repurchases:
Additional purchases were made:
If you want to know how my cashback pension tops up my share and ETF pension, please let me know.
Passive income from dividends
My income from dividends amounted to € 222.47 (€ 93.27 in the same month last year). This corresponds to an increase of +138,52 % compared to the same month last year. The following are further key figures on the distributions:
The top payers are:
My passive income from dividends (and some interest) mathematically covered 27.12% of my expenses in the month under review.
Crypto performance
My crypto investments have also moved:
Crypto remains exciting for me. Due to many external influences (ETF inflows, treasury companies, Genius and Clarity Act, ...), the question arises as to whether the cycle theory is beginning to falter. Or not? Will it be different this time?
Performance comparison: portfolio vs. benchmarks
A comparison of my portfolio with two important ETFs shows:
Outlook and conclusion
Crypto remains exciting for me. Due to many external influences (ETF inflows, treasury companies, Genius and Clarity Act, ...), the question arises as to whether the cycle theory is beginning to falter. Or not? Will it be different this time?
👉 You want my review as an Instagram post?
Then follow me on Instagram:
📲 In addition to the portfolio and budget review, you'll also find regular posts there: @frugalfreisein
👉 How was your July at the depot? Do you have any tops & flops to report?
Leave your thoughts in the comments!
Euro Stoxx 50
Novartis $NVS (-0,91 %)
Rheinmetall $RHM (+1,12 %)
SAP $SAP (-0,17 %)
Investment package
ECB
Tariffs
Discussion about Fed chief
Read analysis: https://shorturl.at/slwz6
The weak dollar exchange rate against the euro for months now is having a noticeable impact on German companies. Numerous companies are expecting significantly lower profits in the second quarter and a continuing burden from the unfavorable exchange rate.
At the end of February, the euro was still trading at around 1.05 dollars, and some were even expecting the currencies to reach parity. But the opposite has happened: Since the threat of high US tariffs in March, the US currency has been weakening, with one euro currently costing 1.17 dollars - a 14% appreciation of the euro.
Large companies with strong foreign operations are particularly affected by this. "In the Dax, that's almost all of them," says Jörg Held, Head of Portfolio Management at the fund company Ethenea. He warns that the weakness of the dollar is "becoming a measurable profit killer". Many experts believe that the negative impact of the currency constellation will not disappear for the time being.
Companies' results will come under pressure in two ways: products from export-oriented companies such as $P911 (+0,26 %) Porsche become more expensive when their price is converted into dollars. Their competitiveness is weakened because competing products from companies in other currency areas with lower exchange rate fluctuations become comparatively cheaper.
"A ten percent appreciation of the euro reduces the profit growth of European companies by three to five percentage points over the course of a year," calculates Ulrich Stephan, Chief Investment Strategist at Deutsche Bank.
Analysts expect the weak dollar to affect other DAX companies. JP Morgan, for example, has just withdrawn its buy recommendation for Airbus shares $AIR (-0,17 %) shares, partly because the exchange rate is putting pressure on profit margins. The aircraft manufacturer mainly produces in the eurozone, while the majority of its revenue is generated in dollars.
The real beneficiaries of the weak dollar are based in the USA. For example, the world's largest healthcare group Johnson & Johnson $JNJ (-0,91 %) has just raised its forecast for 2025. The second quarter was stronger than analysts had expected. In international business, however, Group sales grew almost solely due to the positive impact of the dollar.
The current weakness of the dollar as the world's leading currency is not only affecting companies that trade with the USA: All companies, regardless of whether they export to Asia, Oceania, Africa or South America, are affected, as the majority of international payment transactions and trade contracts are still settled in US dollars.
Experts expect the dollar to weaken further.
"In our view, we are only at the beginning of the bear market for the dollar," says Laurent Denize, co-investment manager at Oddo BHF. Many banks are assuming that the 1.20 dollar per euro mark could soon be reached.
There are several reasons for this: the tariff and trade dispute, the associated changeable and unpredictable policy in the US, the high level of new debt and, finally, US President Donald Trump's public criticism of Federal Reserve Chairman Jerome Powell. All of this is undermining confidence in a reliable US policy - and: "All of this is tarnishing the image of the US dollar," says foreign exchange expert Sonja Marten from DZ Bank.
The discussion about a possible de-dollarization has been gaining momentum for months. This refers to the debate about whether the US dollar is losing its nimbus as the world's reserve currency. "For the first time in a long time, we believe this discussion is actually justified," says Marten. In her opinion, investors looking for alternatives to the dollar will inevitably end up in the eurozone.
If this happens, the euro will continue to gain in value as money flows from dollar to euro investments.
The trend towards the euro is likely to be fueled by the fact that the European Central Bank has probably almost reached the end of its cycle of interest rate cuts after eight cuts in the last two years. The financial markets are only pricing in a further small interest rate cut of 0.25 percentage points by the end of next year.
By contrast, market participants in the US are expecting four interest rate cuts totaling one percentage point by the end of 2026, according to data from the financial news service Bloomberg. The interest rate level between the two currency regions is therefore likely to converge.
The result: the previous advantage for investors in the USA of receiving more interest for their investments there would disappear. This would make dollar investments (even) less attractive in future and, in turn, create further potential for the euro - to the chagrin of export-oriented companies from the eurozone with a strong international presence.
Source (excerpt) & chart: Handelsblatt, 25.07.25
The start of summer in June combined sport and leisure for me. By that I mean swimming, hiking, running and sport at home. Apart from the incoming dividends, I hardly noticed anything on the stock market. It was not the strongest distribution month due to the postponement of three distributions, but it was still a very strong one. Time for a review.
Overall performance
The portfolio tended to tread water in June, but that is no cause for concern. Bit by bit, it is fighting its way out of the lows of the customs conflict. And cash flow continues to be generated by distributions to the clearing accounts. The key performance indicators are:
Share allocation & performance
Which shares performed particularly well in June? Which are at the top and which at the bottom of the rankings? Which were the biggest losers?
Size of individual share positions by volume
Smallest individual share positions by volume:
Top-performing individual shares
Flop performer individual shares
ETFs vs. shares
The breakdown of ETFs vs. shares across all portfolios is 38.7% to 61.3%. This differs from the breakdown of my ETFs to equities savings plans (43% to 57%). Equities have performed better, which is due to the fact that I also include high-dividend ETFs in the ETFs.
Investments and additional purchases
Here is a brief overview of what I have invested in savings plans according to my fixed planning.
In addition, there were the following additional investments from returns, refunds, cashback, etc. as one-off savings plans/repurchases:
Additional purchases were made from other surpluses:
There were no additional purchases from the components of my cashback pension (e.g. reimbursements from health insurance premiums, insurance premiums, shopping vouchers, etc.) this month.
If you would like to know how my cashback pension supplements my equity and ETF pension, please let me know.
Passive income from dividends
My income from dividends amounted to € 152.30 (€ 179.04 in the same month last year). This corresponds to an increase of -14.94 % compared to the same month last year. The following is further key data on the distributions:
The top payers are:
My passive income from dividends (and some interest) mathematically covered 15.91% of my expenses in the month under review.
Crypto performance
My crypto investments also moved a little:
I find the topic exciting, but it is very underrepresented in my overall portfolio due to my passive income strategy. The first profits have already been realized and more will definitely follow. For me, crypto is a lever to turn play money into even more play money, which is then put into the solid distributors to make the income snowball grow bigger and bigger. New accumulation will take place in the coming bear market.
Performance comparison: portfolio vs. benchmarks
A comparison of my portfolio with two important ETFs shows:
Outlook and conclusion
I'm using the summer, which has already begun, not only for hiking, but also for city trips for my "non-financial" TikTok and Insta channel. I can often be found at one of the lakes near Leipzig, which were once created from the open-cast mining pits of the brown coal era. It's nice that the lunar landscapes have become a local recreation area. That's why I'm less active at the moment. That will certainly change again in the fall.
For now, I'm just enjoying life, and my money continues to work stubbornly and steadily for me in the background. Current events in the world and in politics don't interest me in the slightest. As I write this review, the first third of the summer will soon be over.
👉 You want my review as an Instagram post?
Then follow me on Instagram:
📲 You'll find regular posts there as well as the portfolio and budget review: @frugalfreisein
How did your June at the depot go? Do you have any tops & flops to share? Leave your thoughts in the comments!
SAP $SAP (-0,17 %) is being targeted by the German Federal Cartel Office, which has recently launched an investigation into the acquisition of Signavio. This measure is a reaction to the accusations made by competitor Celonis, which accuses SAP of alleged misconduct. In 2021, the software giant acquired Signavio for almost one billion euros, which was approved by the regulatory authorities at the time. Signavio was a direct competitor of Celonis, and the ongoing investigations could have a lasting impact not only on the acquisition but also on SAP's entire market position. The industry is watching with interest to see how the situation will develop and what consequences this could have for SAP.
In another major move, Biontech $BNTX (-0,89 %) announced the acquisition of Curevac $CVAC (-0,85 %) which is seen as a significant step forward for the company. According to a pharmaceutical executive close to owners Thomas and Andreas Strüngmann, this deal reflects the strength of Biontech. At the important conference of the American Society of Clinical Oncology (ASCO) at the end of May, Biontech presented promising results that further fueled interest in the company. As part of the takeover, Curevac shares are to be exchanged for Biontech depositary receipts, which catapulted the Curevac share price up to 28 percent. As a result, the market capitalization returned to the level of the beginning of the year. Nevertheless, the valuation of Curevac shares remains 95% below the 2020 records, which shows how volatile the market for biopharmaceutical companies is.
Sources:
Principales creadores de la semana
