2025 was a special year. Since the birth of our son in February, family came first, which led to a lower savings rate. Denkoch I am satisfied with the year.
The highlights:
Performance: With an IRR of 13.15 %, my target of 8 % was clearly exceeded, although I currently hold 25 % in bonds.
Top performer: After the "Rosegarten crash", opportunistic entries/repurchases paid off. Particularly strong performance:
$TSM (+0,89 %) : +104,6 %
$INTC (+1,28 %) : +59,4 %
$ASML (-0,19 %) : +40,4 %
$BA: (-2,04 %) +35,9 %
$NET (-0,44 %) once again contributed the largest absolute gain as the largest item.
Sector focus: The Healthcare segment was strengthened, including with $EXEL (-0,57 %) and the perennial favorite $ISRG (+0,71 %) (+25,4 %).
Outlook 2026:
The focus is on second-tier AI winners and the healthcare sector. In the event of setbacks in the semiconductor sector, I plan to further expand positions.
