I took advantage of the current dip to buy more shares.

I think BYD is currently the most interesting pick in the e-mobility sector. Its batteries are technologically superior, and BYD is gaining a stronger foothold in Europe as well.

$1211 (+2,55 %)

July was a month of contrasts. The Nasdaq slipped into its second correction of 2026, triggered by a sharp sell-off in semiconductor stocks—memory chip manufacturers and chip equipment suppliers saw losses, in some cases in the double digits, and even strong quarterly results were no longer enough to prop up share prices. The DAX, on the other hand, hit new record highs during the same period, driven by software stocks and a rebound at Rheinmetall. At the same time, a significant amount of capital rotated out of AI and chip stocks and into Chinese tech and electric vehicle stocks, which staged a strong comeback after months of decline.

My portfolio benefited from this rotation and is back in the black:

📊 Monthly performance: +1.02%

📊 Portfolio value: ~€44,139

📊 Peak performance (Jan. 6, 2022): +43%

📊 YTD performance: ~+14.09%

Performance & Comparison 🚀

July demonstrated how differently the indices could perform depending on their composition. While the Nasdaq suffered from the chip sell-off, the DAX benefited from its lower concentration of semiconductor stocks and the Rheinmetall recovery. My portfolio tracked the DAX more closely than the Nasdaq and ended the month in positive territory.

Performance Comparison (July 1–July 31, 2026, end of day):

My portfolio: +1.02%

DAX: +2.57%

S&P 500: -1.25%

FTSE All-World: -1.47%

NASDAQ 100: -6.97%

Purchases, Sales & Allocation 💶

In July, I reduced my cash position. The Xtrackers II EUR Overnight Rate Swap ETF, which I had been using to park liquidity, was sold in three tranches: €301.00 on July 17, and €232.13 each on July 28 and July 29—totaling approximately €765. The freed-up funds were immediately allocated to three positions: BE Semiconductor Ind. $BESI (-4,76 %) I increased my position in two steps: €150.00 on July 17 and €230.00 on July 29. For Solaria $SLR (+1,12 %) , I added another €150.00 on July 17, and for Hermès $RMS (-1,09 %) on July 28. In doing so, I deliberately reallocated cash into stocks rather than injecting new capital.

Additionally, on July 30, I invested €454.36 in my own Wikifolio certificate $DE000LS9V052 (+1,03 %) —a private position separate from the rest of my portfolio.

Top Movers in July 🟢

The month clearly belonged to stocks that benefited from the rotation out of U.S. tech.

BYD posted the strongest gain at +27.08% (+€305.27). The stock received a double boost: capital flowed from AI and chip stocks into Chinese electric vehicle stocks, and BYD also reported $1211 (+2,55 %) reported a nearly 22% jump in sales for July and more than a doubling of overseas deliveries. Alibaba $BABA (+0,39 %) followed suit with a gain of +25.33% (+€149.06)—part of the same China-led rally that also swept up Tencent and Xiaomi. Snowflake $SNOW (-2,52 %) rose by +17.46% (+€155.91) and Cloudflare $NET (-1,9 %) by +15.62% (+344.80 €), the largest euro gain in the portfolio—both software stocks fared significantly better than hardware and chips in the rotation. Rheinmetall $RHM (-0,33 %) rebounded by +15.09% (+€186.59) from its 52-week low following the frigate shock in June, supported by full order books and rising defense budgets in Europe. Nubank $NU (+2,15 %) rounded out the list with a gain of +9.49% (+€97.49)—here, too, the rotation away from U.S. tech toward other regions played a role.

July’s Big Losers 🔴

On the other hand, the list consisted almost exclusively of stocks that were directly or indirectly hit by the chip sell-off.

Tempus AI $TEM (+4,02 %) suffered the biggest loss at -25.08% (-€55.74)—AI-related stocks came under particular pressure during the broad sell-off. IREN $IREN (+5,77 %) fell by -20.39% (-€179.15) and has remained weak since the price slump in early summer, still weighed down by the combination of Bitcoin weakness and skepticism regarding its transition to an AI cloud provider. BE Semiconductor Ind. $BESI (-4,76 %) fell by -18.77% (-€169.56), directly impacted by the global sell-off among chip equipment manufacturers. TSMC $TSM (+1,56 %) lost -15.04% (-€80.55)—despite a strong quarter, the stock was swept up in the general semiconductor correction. Hermès $RMS (-1,09 %) dropped -10.27% (-24.26 €), with luxury goods following the downward trend of weaker growth stocks. Solaria $SLR (+1,12 %) rounded out the list with a -9.50% (-€46.19) decline—solar and renewable energy stocks remain under pressure.

Conclusion 💡

July showed just how quickly capital flows can shift. While the chip sector underwent one of the sharpest corrections of the year, Chinese tech and electric vehicle stocks found their bottom. For my portfolio, this was a good example of why broad diversification across sectors and regions makes all the difference.

❓ Question for the Community

That was my month in numbers—how did the July chip sell-off affect you? Did you rotate into Chinese stocks, or are you holding onto your U.S. tech positions?

👇 Let us know in the comments!

➡️ Follow @codeandcapital26 for transparent portfolio updates!

🗞️ Newsletter: codeandcapitalquant.beehiiv.com

📈 Wikifolio: https://www.wikifolio.com/de/de/w/wf0gquant6

June was marked by a Fed shock and a rotation away from the winners of the previous months. On June 17, the Fed, under its new chair Kevin
Warsh , the Fed kept interest rates at 3.50–3.75%, the dot plot signaled a possible rate hike rather than a cut—after months of hopes for easing —a real blow to the markets. On top of that came a bombshell regarding defense stocks: The Ministry of Defense scrapped the multi-billion-euro F126 frigate program, and Rheinmetall $RHM (-0,33 %) subsequently lost over 16% —one of the stock’s worst trading days in decades. While speculative and cyclical stocks were sold off, investors fled to quality: defensive large-cap stocks and established software stocks held up significantly better.

In line with this more selective market environment, my portfolio slipped slightly into the red but held up more robustly than the DAX and Nasdaq:

📊 Monthly performance: -0.39%

📊 Portfolio value: ~€43,298

📊 Peak performance (Jan. 6, 2022): +39.16%

📊 YTD performance: ~+7.68%

Performance & Comparison 🚀

June was a month of contrasts: While the DAX and Nasdaq suffered from the Fed shock and the rotation out of risk assets, the S&P 500 and FTSE All-World held up significantly better thanks to their broader, more defensive composition. My portfolio was in the middle of the pack at -0.39%—more stable than the DAX and Nasdaq, but weaker than the two broad U.S. and global indices.

Performance Comparison (June 1–June 30, 2026, end of day):

My portfolio: -0.39%

FTSE All-World: +1.24%

S&P 500: +0.85%

DAX: -0.53%

NASDAQ 100: -0.96%

Purchases, Sales & Allocation 💶

In June, €300.00 was invested in the MSCI ACWI USD (Acc) $ACWI and €50.00 into the MSCI World Small Cap $WSML via the ongoing savings plans. The following were added via buy orders: Solaria Energia $SLR (€250.97), BE Semiconductors (€501.00), a Euro Overnight Rate Swap ETF (€101.00), and Tempus AI $TEM (€101.00).

On the selling side, I took profits on two positions in which I’ve been a shareholder for a good two years: In Datadog $DDOG (-2,26 %) , I closed out the entire position after the stock had performed strongly in recent months. With Snowflake $SNOW (-2,52 %) , I sold about a quarter of the position and am holding onto the rest. Both were purely profit-taking after a strong run; there has been no fundamental change in my assessment of the companies.

Top Movers in June 🟢

Despite the generally nervous sentiment, there were a few stocks that bucked the rotation trend and benefited from the flight to quality.

Tempus AI $TEM (+4,02 %) posted the strongest gain at +19.99% (+37.02 €)—AI diagnostics remain in demand, even as more speculative stocks were sold off. TSMC $2330 followed with a gain of +15.56% (+€72.12): Demand for chips related to AI expansion remains consistently high, regardless of the interest rate debate. Ferrari $RACE (-0,69 %) rose by +9.63% (+€78.63)—luxury goods proved resilient in the face of macroeconomic concerns. Berkshire Hathaway $BRK.B (-0,11 %) benefited significantly from the flight to defensive quality, rising +7.37% (+€142.01), while Crowdstrike $CRWD (-3,41 %) posted the largest euro gain in the portfolio with a +6.97% (+161.62 €) rise—cybersecurity remains structurally in demand. Cloudflare $NET (-1,9 %) rounded out the list of winners with a gain of +4.92% (+€105.74).

June’s Biggest Losers 🔴

The losers in June were almost exclusively the stocks that had performed the strongest in previous months or are particularly sensitive to interest rates.

IREN was hit the hardest $IREN (+5,77 %) , down -26.48% (-€316.39): Falling Bitcoin prices and ongoing disagreement among analysts regarding the company’s transition from a Bitcoin miner to an AI cloud provider weighed on the stock. Rheinmetall $RHM (-0,33 %) lost -23.36% (-€376.76) after the Ministry of Defense scrapped the F126 frigate program, which affected the entire defense sector. Alibaba $BABA (+0,39 %) fell by -21.25% (-€158.86)—Chinese tech remains under pressure due to general risk aversion toward Chinese stocks. American Lithium fell -21.21% (-€64.45), weighed down by persistently weak commodity prices and higher interest rate expectations, which particularly affect unprofitable growth stocks. BYD $1211 (+2,55 %) fell by -18.40% (-254.16 €) amid the ongoing price war in the Chinese electric vehicle market. Solaria $SLR (+1,12 %) rounded out the list of top losers with a -15.86% drop (-€63.35)—the hawkish Fed is weighing noticeably on interest-rate-sensitive solar and renewable energy stocks.

Conclusion 💡

June was a month of rotation: away from the more speculative winners of previous months, toward quality and established names. The Fed shock and the Rheinmetall slump showed how quickly sentiment can shift—a good reminder of why diversification across sectors and regions remains important.

❓ Question for the Community

That was my month in numbers—how did your portfolio fare through the Fed shock? Did you buy more Rheinmetall shares, or did you pull the plug?

👇 Let us know in the comments!

➡️ Follow @codeandcapital26 for transparent portfolio updates!

🔗 Link in bio: Wikifolio, Getquin & Parqet Portfolio

🗞️ Newsletter: codeandcapitalquant.beehiiv.com

📈 Wikifolio: https://www.wikifolio.com/de/de/w/wf0gquant6

$1211 (+2,55 %) It's not going as well as I'd hoped, but I still firmly believe that the company will soon be valued more in line with what it's actually worth. Still, the market is always right.

What do you guys think of BYD?

To me, it's similar to $9868 (+6,02 %) a Tesla from China 🇨🇳

I evaluate around 1,400 stocks using a multidimensional factor model, with each dimension on a scale from 0 to 100. Recently, I’ve started applying this analysis to my own portfolio as well—so each of my positions receives the same score as every other stock in the universe. The results are revealing, especially where the model rates my stocks poorly.

Let’s start at the top:

$SLR (+1,12 %) Ranked 3 out of 865, $TSM (+1,56 %) at 7, $BESI (-4,76 %) at 30, $NU (+2,15 %) at 39. At BE Semiconductor, I find the breakdown particularly instructive: an extremely strong momentum score meets a valuation score of practically zero, with a P/E ratio of around 149. So the model doesn’t say “good stock” or “bad stock,” but describes exactly what you’re holding—a strong trend at a high price. This distinction is more important to me than a single overall score.

Now for the bottom half:

Because that’s actually the more interesting part. $RHM (-0,33 %) It’s way down the list, $1211 (+2,55 %) almost at the end of the universe, $MELI (+2,16 %) and also deep. The reason is almost the same everywhere: The 12-month momentum has collapsed following the correction, and at the same time, valuations are high. So two factors are pulling it down at the same time. With Rheinmetall, there’s the added factor that the stock is simply no longer cheap after its strong run—the model sees this objectively, regardless of the story surrounding it.

My software stocks are a special case:

$NET (-1,9 %) , $CRWD (-3,41 %) and $NOW (-2,5 %) . They also end up in the lower range because their high stock-based compensation weighs on quality and balance sheet metrics. This is a well-known issue with growth-oriented software companies: A large portion of employee compensation is paid in stock, which dilutes and burdens margins when factored in honestly. I tested exactly that—I built a variant that excludes the SBC burden and thus rates these stocks more leniently. The backtest yielded a worse result. So I discarded it again and am sticking with the stricter approach. I’d rather have a consistent model that measures all stocks the same way in a verifiable manner than one I tweak for individual favorites. It’s precisely this tweaking that’s the fastest way to a model that looks great in backtesting but doesn’t work in real-world trading.

Bottom line:

for me, these are two types of positions. I bought some because of their scores—Solaria and BESI, for example; the model is what led me to them in the first place. I hold the others deliberately against the score, out of my own conviction. But I want to see the number and take it seriously, rather than pretending it doesn’t exist. That’s the whole point of the exercise.

The purely systematic version—that is, strictly the top-scoring stocks, excluding my conviction-based positions—has been running as a Wikifolio (ISIN: DE000LS9V052) since March and became tradable this week.

What do you think:

Do you tend to trust your own thesis, or the system behind it?

May was dominated by strong figures and a massive rally in the tech and cloud sector. While April was still characterized by a general recovery, excellent quarterly figures and the unbroken AI boom continued to fuel the markets in May. The Nasdaq in particular benefited greatly from this and reached new highs. Even though volatility was noticeable in isolated cases, investors made strong gains in growth stocks.

My portfolio was able to take advantage of this strong momentum and achieve an outstanding performance, but was narrowly beaten by the extremely strong performance of the Nasdaq 100:

📊 Monthly performance: +9,33%

📊 Portfolio value: ~43.345 €

📊 Performance max. (06.01.2022): +43,84%

📊 Performance YTD: ~+10,44%

Performance & comparison 🚀

Performance in May was exceptionally strong, driven by my high weighting in US tech stocks. While European indices such as the DAX made rather moderate gains, US stocks dominated the action. My portfolio did extremely well with a whopping gain of over 8 % and clearly outperformed the broad market.

Performance in comparison (01.05.-31.05.2026):

My portfolio: +9,33%

NASDAQ 100: +11,20%

S&P 500: +6,47%

FTSE All-World: +5,93%

DAX: +3,27%

Buying, selling & allocation 💶

In the month of May, € 300.00 flowed into the MSCI ACWI USD (Acc)
$ACWI and € 50.00 in the MSCI World Small Cap
$WSML (+0,32 %). In addition, smaller savings plan tranches were invested in Solaria Energia
$SLR (+1,12 %) (150,30 €), Rheinmetall $RHM (-0,33 %) (14,00 €), Ferrari
$RACE (-0,69 %) (€6.00) and Hermes
$RMS (-1,09 %) (€ 3.01) were invested.

Top movers in May 🟢

The list of winners in May is led by outstanding developments in the cloud and cybersecurity sector - an absolute feast for tech investors.

The absolute frontrunner was $SNOW (-2,52 %) with a veritable price explosion of +83,65% (+€ 527.53), closely followed by $DDOG (-2,26 %) with +82,71% (+592,11 €). Both values showed incredible momentum. Also $CRWD (-3,41 %) was convincing across the board and delivered a strong +66,91% (+€ 930.15), which was the biggest gain in the portfolio in absolute terms. $IREN (+5,77 %) continued its strong trend and recorded a further +40,45% (+344,17 €). The outstanding tech performance was rounded off by $NET (-1,9 %) with a solid +13,60% (+€ 257.29), while Keyence also $6861 (+2,87 %) with +12,08% (+€83.94) also developed extremely positively.

Flop movers in May 🔴

Despite the generally extremely strong sentiment, there were also some stocks that consolidated or showed weakness in May.

American Lithium was the worst performer, falling by -13,16% (-46.03 €), still unable to find a bottom in the current market environment. With $1211 (+2,55 %) the minus of -12,13% (€ -190.62) was due to falling EV sales and the ongoing price war in China. $NU (+2,15 %) After the strong previous months, the share price fell by -8,90% (-99.30 €) after the strong previous months. Also $TEM (+4,02 %) also recorded a slight setback of -8,49% (-7.90 €), similar to $BABA (+0,39 %) with -5,15% (-40,59 €). $RHM (-0,33 %) also lost ground and lost -4,60% (-77.14 €), indicating further profit-taking in the defense sector.

Conclusion 💡

May was an outstanding month that impressively demonstrated how much a targeted positioning in the tech and cloud sector can pay off.

❓ Question for the community

This was my month in numbers, what was your best buy in May? Which stock surprised you the most?

👇 Write it in the comments!

➡️ Follow @codeandcapital for transparent portfolio updates!

🔗 Link in bio: Wikifolio, Getquin & Parqet Portfolio

🗞️ Newsletter: codeandcapitalquant.beehiiv.com

...but anything that doesn't pay rent has to go after just over a year 🤷🏻‍♂️

In addition, the price war in the domestic market will probably last much longer than expected and now commercial vehicles are also coming into the crosshairs...

So, in my opinion, in the long run I can put the money somewhere else...

...nevertheless $1211 remains a top company with everything around it, but will unfortunately always end up below the car manufacturer in the EM