$MNDY (+2,88 %)
$PGY
$APO (+5,18 %)
$ON (+4,17 %)
$AMKR (+11,5 %)
$MEDP (-0,26 %)
$UPWK (+5,71 %)
$ACGL (-1,37 %)
$ACM (+2,09 %)
$KO (-0,24 %)
$SPOT (+2,22 %)
$CVS (+3,39 %)
$DDOG (+5,73 %)
$FI (+2,57 %)
$SPGI (-3,35 %)
$RACE (-0,63 %)
$AZN (+2,73 %)
$MAR (+1,39 %)
$OSCR (+2,56 %)
$HOOD (+14,04 %)
$ALAB (+18,6 %)
$F (+0,25 %)
$LYFT (+4,1 %)
$UPST (+12,03 %)
$NET (+6,25 %)
$GILD (+0,95 %)
$EW (+0,5 %)
$SHOP (+3 %)
$VRT (+9,71 %)
$HUM (+0,18 %)
$KHC (+0,14 %)
$MCD (+0,81 %)
$9ZX1
$TMUS (-2,9 %)
$APP (+9,73 %)
$CSCO (+2,56 %)
$ALB (+4,88 %)
$HUBS (+5,09 %)
$TYL (+1,18 %)
$NBIS (+25,32 %)
$BN (+1,46 %)
$CROX (+1,72 %)
$ZTS (+0,32 %)
$BIRK (+2,75 %)
$COIN (+12,69 %)
$ANET (+6,33 %)
$RIVN (+8,84 %)
$TOST (+2,2 %)
$AMAT (+5,7 %)
$DKNG (+4,06 %)
$WEN (-0,59 %)
$CCO (+3,91 %)
$ENB (-0,66 %)

January was a challenging but generally constructive month.

A strong start to the year was followed by a significant tech correction in the middle of the month, triggered by risk-off flows, interest rate sensitivity and caution after the first US earnings.

Despite this volatility, I closed the month clearly in the plus the month:

👉 Monthly performance: +2.5 %

👉 Portfolio value: € 39,576

1st performance & comparison 🚀

January was characterized by sectoral rotation:

Software & high-beta corrected significantly, while selected cyclicals, commodities and special situations remained stable.

Performance in comparison (31.01.2026):

- My securities account:
+2,50 %

- NASDAQ 100: +0.47 %

- S&P 500: +0.30 %

- DAX: -0.33 %

- FTSE All-World: +0.98 %

👉 The outperformance is not the result not from broad tech exposurebut from targeted themes, anti-cyclical positions and active allocation.

2. purchases, sales & allocation 💶

The focus in January was clearly on Risk management and cash management:

Acquisitions: Siemens ($SIE (+2,79 %)) (twice) - Partial reinvestment of realized gains. Euro Overnight Rate Swap ETF ($XEON (+0 %))- targeted liquidity build-up

Sales: Partial sale Rheinmetall ($RHM (+1,02 %))after an extreme run (+735% since entry)

👉 Currently Cash / cash equivalents at ~4 % of the portfolio - deliberately increased in an environment of increasing uncertainty.

3rd top mover in January 🟢

January was clearly dominated by special situations and cyclical themes carried.

The strongest performer was IREN m($IREN (+20,2 %)), which rose by +40,8 % benefited massively from the recovery in the mining sector. Another strong performer was the VanEck Uranium & Nuclear ETF ($NUKL (+7,54 %))with +21,7 %driven by structural demand, supply shortages and geopolitical reassessment.

American Lithium placed +19,1 % and showed a technical countermovement after months of weakness. Alibaba ($BABA (+3,85 %)) was convincing with +15,9 %supported by valuation levels, margin stabilization and the first signs of regulatory easing.

Also Novo Nordisk ($NOVO B (+10,5 %)) (+15,4 %) also benefited from sustained demand in the GLP-1 segment, while Rheinmetall despite a partial sale again +14,1 % and confirmed its role as a structural profiteer.

4th flop mover in January 🔴

The weaker side of the portfolio was clearly in the high-multiple-tech segment segment.

Cloudflare ($NET (+6,25 %)) lost -11,2 % in the wake of a massive revaluation of AI and infrastructure software. Ferrari ($RACE (-0,63 %)) (-10,9 %) and Snowflake ($SNOW (+9,35 %)) (-10,3 %) suffered from profit-taking and higher expectations after strong previous quarters.

Also CrowdStrike ($CRWD (+4,51 %)) (-6,6 %) and Datadog ($DDOG (+5,73 %)) (-6,4 %) were under pressure, although there was little change in operational quality. Berkshire Hathaway ($BRK.B (+0,22 %)) rounded off the list of losers with -6,1 % burdened by interest rate and insurance discussions.

👉 Important: These are primarily valuation and sentiment moves. valuation and sentiment movesnot fundamental breaks.

5. conclusion 💡

January was not an easy month, but a good start to the year:

- Outperformance against all relevant indices

- Profits realized, cash increased

- Volatility consciously accepted instead of blindly smoothed out

The environment remains challenging:

Interest rates, Fed expectations, political uncertainties and earnings will continue to shape the markets in February.

The focus therefore remains clearly on quality, liquidity and selective opportunities.

❓ Question for the community

Which stock surprised you the most in January - positively or negatively?

👇 Write it in the comments!

Greetings, financial experts,

I have changed my portfolio again, I was a big fan of dividend stocks, but I have also switched to Dividend Growth. With stocks like $ADP (-1,58 %) , $RACE (-0,63 %) , $V (+0,16 %) , I have bought new stocks that I think are currently available at a good price. With $UNH (+5,94 %) really gave me a scare this week, but I'm still confident. I have completely detached myself from $VOW3 (-0,39 %) and $MBG (-0,12 %) although I would have liked to have taken the dividend from May, but I was up and, as I said, the above-mentioned shares were available at a good price. $VHYL (+1,77 %) but I am still looking for a good EM Dividend Etf, so I would be happy if you have some tips. Feel free to share your thoughts in general

I'd like to share my current watchlist with you, which stocks are on the shortlist and at what buy-in.

$AVGO (+6,7 %)

Buy - In: ~ 220-240 €

$MELI (-3,17 %)

Buy - In: ~ 1500 €

$ZTS (+0,32 %)

Buy - In: ~98€

$NFLX (+1,35 %)

Buy - In: ~60-62€

$WM (-0,58 %)

Buy - In: ~170$

$BKNG (+0,05 %)

Buy - In: ~ 3900€

$SPGI (-3,35 %)

Buy - In: ~ 400€

$RACE (-0,63 %) (subsequent purchase)

Buy - In: ~ 230€

$V (+0,16 %) (subsequent purchase)

Buy - In: ~ 260€

And you?

Finally the whole thing is getting interesting !)

Now that Trump is threatening punitive tariffs to get Greenland and he won't, I have decided to sell 115 of 175 shares in $NOVO B (+10,5 %) at a loss of just under 1k.

In return, I bought the second tranche $RACE (-0,63 %) for this. I want to buy in a total of 4 tranches.