June marks the end of my second-worst month on the stock market since I started keeping records... It’s not all sunshine and rainbows. But hey, you’ve got to be among the worst performers sometimes so that things can get better again in the future! 😉

Here’s an overview of the portfolio in May:

👉🏻 June:

Starting balance: 1,398,020 euros + 72.39 cash

End: 1,219,254 euros + 428 cash

Deposit: -3,000 euros

Loss: -175,410 euros (-12.55%)

The loss is mainly due to the continued decline in the price of gold and the associated drop in mining stock prices. For this reason, I remain calm about this situation, because anyone who has been investing in mining stocks for a while is familiar with these fluctuations. At this point, there’s no need to worry about it yet.

In addition to mining stocks, however, automotive stocks $P911 (+0,21 %) (Porsche) and $VOW (-0,56 %) (Volkswagen), as well as Chinese stocks $BABA (-2,24 %) (Alibaba), $PDD (-2,9 %) (PDD Holding), and $1810 (-2,9 %) (Xiaomi). I selectively bought more shares in these.

In addition to the (unrealized) price losses, there were also a few instances of profit-taking here and there this month. On the bright side, this month also marked my strongest dividend month of the year—and of all time. All in all, I received 16,600 euros in gross dividends. The main contributors were Volkswagen, Porsche, and—by far the best dividend payer— $BIJ (+0,86 %) (Bijou Brigitte) 👍🏼

I’d say I’ll check this month off my list and look forward to July—after all, it seems to be off to a reasonably good start. If that isn’t a good omen... 😊

Bad months are just part of the deal!

➡️🆓: On my way toward 4 million in total assets, I’m now 40.35% of the way there.

Here’s to successful stock market trades! 😊

Every now and then, I like to share my portfolio with you to get your feedback and tips :-)

I’ve further consolidated it to 26 holdings (if you exclude the duplicate ETFs, which exist for historical and tax reasons, and the very small positions that I can’t sell).

I’m currently contributing $IEMA (-1,22 %)
$TDIV (+0,18 %) and $EQAC (-1,31 %) contributing 250/month, $IWDA (-0,78 %) 1,000/month, and $MELI (-2,05 %) and $NU (-1,33 %) 200/month.

I plan to liquidate my $VOW (-0,56 %) position in the next few days, but I don’t know yet where the money will go.

Tips, feedback, etc. are urgently needed :-)

While everyone is eyeing Big Tech, a story is building up at $STLAM (-2,76 %) a story is building up that value investors cannot ignore. After the horror year of 2025, the Q1 figures for 2026 point to a massive turning point.

Why I am bullish now:

1. focus on the cash cows (The "Big Four") 🐎

Stellantis has put an end to the proliferation of brands. The Group is radically focusing on Fiat, Peugeot, Jeep and RAM. These brands bring volume and margin. Fiat in particular is an absolute gold mine thanks to its dominance in South America!

2. the realism check: hydrogen exit & battery focus 🔋

Stellantis cleans up:

- Consistent exit from hydrogen: The Symbio exit (April '26) shows: If you want to burn money, do it elsewhere. $STLAM (-2,76 %) Saves billions in future capex.

- Smart battery deals: Partnership with CATL $3750 (-2,86 %) (LFP cells) and Tiamat (sodium-ion). Affordable batteries for the masses instead of expensive high-end niche products.

3. the "Leapmotor" joker vs. EU competition 🇨🇳

Stellantis builds the technology of $9863

(Leapmotor) in Europe. This allows them to circumvent EU tariffs and gives them a weapon against BYD $1211 (-2,01 %) which $VOW (-0,56 %) (VW) or $BMW (-0,44 %) (trapped in rigid cost structures) completely lack.

4th valuation: Almost a gift? 💎

With an estimated P/E ratio of approx. 4 the share is extremely cheap. Yes, the dividend has been canceled for 2026 - but this is the perfect entry point before the dividend hunters return in 2027/28.

Conclusion:

Stellantis acts like a software company: What is not profitable is cut. While the competition remains in "hope mode", Stellantis is building $STLAM (-2,76 %) an efficiency fortress. For me, this is a classic contrarian bet with enormous upside potential.

What do you think? Value pearl or old-economy grave? 👇

Edit: Ticker link added. Sry my first post

#Investing
#Stellantis
#Stocks
#ValueInvesting
#Automotive
#DepotUpdate
#Fiat
#RAM
#Contrarian
#Turnaround

Reading time: approx. 3 minutes

There is one mistake that I consider to be one of the most expensive in investing: confusing a cyclical downturn with a structural problem. Or vice versa. Both cost money, but in very different ways.

The cyclical downturn is temporary. A company earns less because demand is currently weak. The business model is intact, as is the competitive position. Profits recover when the cycle turns. If you sell during this phase, you make a loss and miss out on the recovery.

The structural problem is something else. Here, something fundamental changes in the business model itself. A competitor makes the product redundant, or demand disappears permanently. Profits do not recover because there is nothing to recover. Those who hold on in this phase are waiting for a normalization that never comes.

The difficulty: both look identical on the chart. Price falls, sentiment turns. The difference lies not in the price trend, but in the cause.

I therefore start with a simple question: does the company have a problem, or does the sector have a problem? And if the industry has a problem: Does it resolve itself because it arises from oversupply or temporary weakness in demand? Or is it permanent because a competitor or a technology is changing the basis of the business model?

$MU (-1,28 %) Micron Technology is perhaps the most textbook example of the first case. The memory chip market operates in periods of pronounced oversupply and shortage. When prices fall, Micron's numbers look catastrophic. When they rise, profits explode. 2022 was brutal. Demand collapsed, stocks piled up, analysts outbid each other with price target cuts. Anyone who sold back then and bought again in 2023 incurred transaction costs twice and still missed out on the recovery. The core business was never fundamentally called into question.

$CCO (-2,11 %) follows a similar logic, with an important overlay. The uranium cycle is slower and politically driven. After Fukushima, it took the market years to separate structural demand from political sentiment. Reactors were shut down and the uranium price collapsed. For many, this looked like a structural problem. But it wasn't. The demand for electricity remained. Nuclear power as a technology remained. What changed was the perception. When that changed, so did the cycle. Those who understood the difference took the reassessment with them.

$CVS (+0,64 %) is the counterexample. The pharmacy model has been under pressure for years: pharmacy benefit managers are squeezing margins, bricks-and-mortar retail is losing footfall and the core business is shrinking. CVS is still operating on a large scale and delivering sales. But the market is increasingly pricing in structural margin erosion and regulatory risk, and for good reason. Despite this, CVS was traded as a cheap dividend stock for years. The high dividend yield was seen as a selling point. However, an unusually high dividend yield is often more an indication that the market doubts the sustainability of the payout. This was confirmed in the case of CVS. Anyone waiting for the cyclical recovery was waiting for something that structurally could not come.

$VOW (-0,56 %) is the more difficult case, and therefore instructive in another way. The loss of market share in China to BYD and other local manufacturers has a structural core: Chinese suppliers are now competitive in terms of quality and price, this is not a temporary phenomenon. At the same time, a cyclical decline in demand in the premium segment is overshadowing the structural issue in the short term. The two cannot be clearly separated. This makes VW a mixed case: structural core, cyclical overlay. This is not a failure of analysis, this is the reality of many companies in transformation phases. And that is precisely why, in a case like this, I need to at least know which part I attribute to the cycle and which to structural change. Without this separation, a position size can hardly be justified.

What I avoid is holding a cyclical with structural arguments when the cycle is recovering. This is the most common form of self-deception. The story sounds convincing, the share price rises, and at some point you realize that you didn't understand the sector but only participated in the bull market.

The tool that helps me most with this distinction is earnings revisions. That's what the next article is about.

The 2026 dividend season is stronger than expected. Despite economic uncertainties, payouts remain at a high level, many companies are robust and confirm the role of dividends as a key driver of returns.

Around 25 companies in the DAX are expected to increase their dividends. Overall, the level remains attractive, even if the momentum varies from sector to sector and not all sectors are benefiting equally.

The shift within the sectors is particularly striking. While traditional dividend payers from the automotive industry such as$MBG (-0,95 %)
$VOW (-0,56 %) or $BMW (-0,44 %) are paying weaker dividends, other sectors are gaining in importance:

Insurance companies and financial stocks in particular are moving more into focus. Companies such as $ALV (+0,56 %) or the $DBK (-2,37 %) are among the beneficiaries of this development and could play an increasingly important role for dividend investors. At the same time, there are also individual cases such as$ENR (+0,93 %) which are paying dividends again after a break.

For investors, this means that selecting the right sectors is becoming more important than the dividend yield alone.

If you want to understand the most important trends, figures and individual stocks in detail, you can find the complete analysis here in the new Artikel the complete analysis.

This article is part of an advertising partnership with Société Générale

As every Sunday, the most important news from the past week, as well as the most important dates for the coming week.

Also as a video:

https://youtube.com/shorts/Xj-PxHireLQ?is=d23V3gOV-iu4Mmpy

Monday:

Defense instead of cars, for a $VOW (-0,56 %) VW plant in Osnabrück, this seems to be a real option. In the future, parts for the Irondome could be manufactured here in cooperation with the Israeli defense company Rafael.

https://www.handelsblatt.com/unternehmen/industrie/ruestung-volkswagen-koennte-iron-dome-teile-in-osnabrueck-herstellen/100211392.html

Tuesday:

US economic activity has fallen to an 11-month low amid the Iran war due to high prices. Higher energy costs in particular are unsettling economic players in the USA.

https://www.reuters.com/business/us-business-activity-slips-11-month-low-march-amid-iran-war-sp-global-survey-2026-03-24/

Wednesday:

The situation in Germany is also deteriorating due to the war in Iran. The ifo business climate index has fallen to its lowest level for a year. Industry in particular is suffering from the rise in energy costs. According to the ifo Institute, economic growth at the end of the first quarter is therefore likely to be no more than 0.1%.

https://www.zeit.de/wirtschaft/2026-03/ifo-index-wirtschaft-rueckgang-aufschwung-irankrieg

Thursday:

The new $BAS (+0,17 %) BASF plant in Zhanjiang, China was opened. Instead of the planned 10 billion euros, it cost just over 8 billion euros. The big advantage of the new plant is the steam cracker, which also runs on butane gas and is therefore not dependent on the now scarce oil distillate naphtha.

https://www.handelsblatt.com/unternehmen/industrie/industrie-in-china-dieses-neue-werk-entscheidet-ueber-die-zukunft-von-basf/100211220.html

The most important dates for the coming week:

Monday: 14:00 Inflation data (DE)

Wednesday: 16:00 ISM Manufacturing (USA)

Friday: 14:30 Labor market data (USA)

#inflation
#verbraucher
#industrie
#usa
#deutschland

Can you think of any other dates?

Dear Community,

Having recently discussed some exciting companies from future-oriented sectors, today I would like to take a look at Contemporary Amperex Technology Co. Limited - CATL for short $3750 (-2,86 %) for short.

The Chinese group is now the world's world's largest manufacturer of batteries for electric vehicles and plays a central role in the global electrification electrification of transportation and in the expansion of energy storage solutions.

_________________________

🏢 Brief description

CATL develops and produces lithium-ion batteries for electric vehicles and energy storage systems.

The company supplies many of the world's largest car manufacturers.

Its most important customers include:

• Tesla ($TSLA (-2,49 %) )
• BMW ($BMW (-0,44 %) )
• Volkswagen ($VOW (-0,56 %) )
• Mercedes-Benz ($MBG (-0,95 %) )
• Ford ($F (+0,49 %) )
• Hyundai ($005380 )

CATL batteries are now installed in installed in over 17 million electric vehicles worldwide.

_________________________

🏢 1. company data

Foundation: 2011

Founder: Robin Zeng

Head office: Ningde, Fujian (China)

Industry: Battery technology / energy storage / electromobility

Initial public offering: 2018 on the Shenzhen Stock Exchange (Ticker: $300750
)

Employees: ≈ 147,716 worldwide

Business model

CATL develops and produces:

• Lithium-ion battery cells
• complete battery systems for electric vehicles
• stationary energy storage systems
• Battery materials and recycling solutions

The Group covers large parts of the battery value chain from raw materials to integration into vehicles.

_________________________

📈 2. finances & company value

(current company key figures)

Market capitalization: ≈ 205.5 billion €

Turnover (TTM): ≈ 366.9 billion RMB (~46.2 billion USD)

Net result: ≈ 54.2 billion RMB

EPS (earnings per share): ≈ 12.37 RMB

Quarterly profit growth (YoY): +32,9 %

Cash position: ≈ 342.7 billion RMB

💡 Explanation:

The turnover comes mainly from batteries for electric vehicleswhile energy storage solutions are increasingly becoming a second growth driver becoming a second growth driver.

_________________________

📊 3. key valuation figures

P/E ratio (trailing PE): ≈ 26,9

Forward P/E ratio: ≈ 21,2

Price-to-sales (P/S): ≈ 3,3

Enterprise Value: ≈ 180.4 billion €

💡 Explanation:

• P/E RATIO: Ratio of market capitalization to profit
• P/E RATIO (P/S): Stock market value in relation to turnover

For a strongly growing industrial technology group these valuations are considered comparatively moderate.

_________________________

💰 4. profitability & margins

Net margin: ≈ 14,77 %

Operating margin: ≈ 17,44 %

Return on equity (ROE): ≈ 22,2 %

Return on assets (ROA): ≈ 5,08 %

💡 Explanation:

• ROE: Shows how efficiently equity is used
• ROA: shows profitability in relation to total assets

Despite enormous investments, CATL remains profitable and cash flow strong.

_________________________

🛡️ 5. Balance sheet quality & financial health

Total assets: ≈ 896 billion RMB

Equity: ≈ 347 billion RMB

Cash & short-term investments: ≈ 367.5 billion RMB

CATL therefore has a very strong liquidity positionwhich enables large investments in new factories and technologies and technologies.

_________________________

🔋 6. market position & industry key figures

CATL has been the the world's largest manufacturer of EV batteries.

Global market share: ≈ 38 %

This means:

➡️ More than one in three electric car batteries worldwide comes from CATL.

The market is growing rapidly:

• electromobility
• expansion of renewable energies
• Stationary energy storage

_________________________

⚔️ 7. Overview of competitors

The battery market is highly competitive.

The most important competitors include:

• LG Energy Solution ($373220 )
• BYD ($1211 (-2,01 %) )
• Panasonic ($6752 (-2,18 %) )
• Samsung SDI ($006400 )

_________________________

💡 8. unique selling propositions (USPs)

Why is CATL considered the industry leader?

1️⃣ Technology leadership

CATL invests heavily in research and development.

Important innovations:

• Cell-to-pack technology (CTP)
• Lithium iron phosphate batteries (LFP)
• Fast-charging batteries

2️⃣ Scaling

CATL operates numerous Gigafactories worldwide.

Production capacity was already over 165 GWh and is set to increase further.

3️⃣ Global customer portfolio

The company supplies numerous international car brands and therefore has a broad diversification of demand.

4️⃣ Vertical integration

CATL invests in:

• Raw material extraction
• battery production
• recycling

In the long term, this can reduce production costs can be reduced in the long term.

_________________________

⚙️ 9. Opportunities and risks

🟢 Opportunities

The global battery market is growing strongly.

Drivers:

• Electromobility
• Energy storage for power grids
• renewable energies

CATL is also working on:

• Sodium-ion batteries
• solid state batteries

These technologies could be the next generation of energy storage storage systems.

🔴 Risks

Risks include the following:

• geopolitical tensions between China and Western markets
• Rising commodity prices (lithium, nickel)
• strong competition
• Price wars in the Chinese EV market

In the year 2024, for example, turnover fell by 9.7%, althoughalthough profits continued to rise.

_________________________

📰 Current developments

CATL is currently expanding massively internationally.

Important projects:

• Gigafactory in Hungary
• Battery production in Germany (Erfurt)
• planned battery factory in Spain together with Stellantis ($STLAM (-2,76 %)
  )

The company also raised more than Hong Kong stock exchange listing to raise over USD 4 billion in capitalto finance its global expansion.

_________________________

🧠 Conclusion

CATL is one of the most important companies in the global energy transition.

The Group combines:

• enormous production capacities
• technological innovation
• a strong market position

Should electromobility continues to grow stronglyCATL is likely to remain a key infrastructure infrastructure player in the global battery industry.

_________________________

Sources:

Investing.com: Contemporary Amperex Technology Co Ltd - Financials & Company Profile

https://www.investing.com/equities/contemporary-amperex-tech-co-ltd-company-profile

MarketScreener: Contemporary Amperex Technology Co, Limited - Company Profile

https://www.marketscreener.com/quote/stock/CONTEMPORARY-AMPEREX-TECH-46551731/company/

SNE Research: Global EV Battery Market Share

https://www.sneresearch.com/en/insight/release_view/195/page/0?utm_source=chatgpt.com

Hello everyone,

I am about to make a major change to my portfolio. I have been planning for years to increase the number of shares I hold from 25 to 30 when I exceed the €70,000 mark. The main reasons for this are to spread the risk across more stocks and to be able to invest in new companies without selling old ones, which is usually the rule for me. Now I've been thinking about what other goal I want to pursue with this expansion in addition to the "big strategic" goals. The result is as follows:

- More focus on Europe; reduction of the USA

- Tend to be more defensive; establishment before fantasy

- AI hype may (but does not have to) be integrated, but must not be the unique selling point of the shares

- Should not change my average dividend yield of approx. 2.2-2.3% significantly upwards or downwards

I picked a total of 50 stocks from my watchlists and looked to see which ones fulfill this requirement and which ones would work for me as a 5-pack. I would then add these to the portfolio over the next six months. The results are as follows:

Siemens $SIE (-1,71 %)

Volkswagen $VOW (-0,56 %)

Continental $CON (-0,43 %)

Hoshizaki $6465 (+4,29 %)

Arteche Lantegi $ART (-2,12 %)

Just missed out:

Interroll $INRN (-0,56 %)

Prysmian $PRY (-3,18 %)

Kemira $KEMIRA (+1,46 %)

S&P Global $SPGI (-0,93 %)

Technoprobe $TPRO (-3,56 %)

Now my question, is the plan solid for you? Would you do anything differently in terms of strategy or stock selection? And what are you currently looking for when buying new shares?

LG DieEnte7

Leading managers of western car manufacturers $STLAM (-2,76 %)
$GM (-1,52 %)
$F (+0,49 %)
$RIVN (+2,35 %) among others, are sounding the alarm in the face of growing competition from China.

From the "Big Three" in the USA to European corporations $VOW (-0,56 %)
$MBG (-0,95 %)
$BMW (-0,44 %) concerns are growing that Chinese manufacturers - including BYD $1211 (-2,01 %) - could become an existential threat in the long term.

Ahead of a hearing of the US House of Representatives, the Alliance for Automotive Innovation (AAI), which represents Ford, General Motors and Stellantis, among others, warned: "China poses a clear and imminent threat to the automotive industry in the US."

The association called on Congress to maintain existing import restrictions on certain Chinese technologies, which effectively limit market access for Chinese vehicles.

Rivian CEO RJ Scaringe points above all to the structural advantages of Chinese manufacturers. "It's not that the Chinese cost structure magically works. There are really two things that you can understand very clearly," Yahoo Finance quotes him as saying. Firstly, capital costs are "close to zero in most cases", as factories are heavily subsidized. Secondly, labor costs are only a quarter to a fifth of the US level. Tariffs would currently "even out" these differences, but only temporarily.

Ford boss Jim Farley also warns of the pace of development. "We are a year behind our Chinese competitors. They are now even more present worldwide," he said. In Europe, Chinese brands recently achieved a market share of around 6.1 percent - almost twice as much as in the previous year. Farley repeatedly referred to Chinese vehicles as an "existential threat" and emphasized: "They pose a major threat to the local workforce and receive huge subsidies from the government for their exports." He added: "As a country, we have to decide what is a fair playing field."

》Companies like BYD are exemplary of this rise《

The group is expanding aggressively in Europe and other markets and is benefiting from government support and vertically integrated supply chains, particularly for batteries.

Rivian CEO RJ Scaringe points above all to the structural advantages of Chinese manufacturers. "It's not that the Chinese cost structure magically works. It's really two things that you can understand very clearly," Yahoo Finance quotes him as saying.

Firstly, capital costs are "close to zero in most cases", as factories are heavily subsidized. Secondly, labor costs are only a quarter to a fifth of the US level.

Tariffs would currently "even out" these differences, but only temporarily (as with all other tariffs, mainly to the detriment of US citizens; in Europe, the tariffs already have little to no effect and are being replaced by European factories anyway 🤫😅)

Ford boss Jim Farley also warns of the pace of development. "We are a year behind our Chinese competitors (to put it charitably 😂). They are now even more globally present," he said.

In Europe, Chinese brands recently achieved a market share of around 6.1 percent - almost double that of the previous year. Farley repeatedly referred to Chinese vehicles as an "existential threat" and emphasized: "They pose a major threat to the local workforce and receive huge subsidies from the government for their exports." He added: "As a country, we have to decide what is a fair playing field."

Companies like BYD are exemplary of this rise. The group is aggressively expanding into Europe and other markets, benefiting from government support and vertically integrated supply chains, especially for batteries.

General Motors CEO Mary Barra also criticized Canada's decision to allow up to 49,000 electric vehicles to be produced in China each year. "I can't explain why this decision was made in Canada," she said and warned: "This is becoming a very dangerous development."

Pressure is also growing in Europe. Stellantis CEO Antonio Filosa and Porsche CEO Oliver Blume are calling for CO₂ incentives to be specifically linked to locally produced vehicles. "Europe is currently witnessing the emergence of new geopolitical rivalries," they wrote. "Trade, technology and industrial capacities are being mobilized more than ever to serve national interests. The European Union must choose a path quickly." (clearly they are already building in Europe and then the single market should be taxed 🤷🏻‍♂️🫣😂👍🏻)

Industry experts expect Chinese manufacturers to further accelerate their expansion in view of the saturation of their domestic market. For Western car manufacturers, this is not just about market share - but about the strategic future of their existence.

》Conclusion《

Whining at the highest level, first they all sleep through everything, then it's all about the money and then they wake up and whine about why nobody woke them up, that's how disenchantment with politics/lobbying works 🤷🏻‍♂️

The Chinese will literally overrun us, but cheers to the management, lobbying and, above all, the politicians who made this possible in the first place 🤫👍🏻😂