I challenge you to critique my current holdings. Any critique is welcome. Go!

Here are my current holdings:

$MSFT (+0,74 %)

$META (-0,35 %)

$MA (-0,14 %)

$BRK.B (-0,82 %)

$AMZN (+0,12 %)

$ASML (+0,34 %)

$MSCI (-0,79 %)

$MC (-1,64 %)

$BKNG (+0,04 %)

$SPGI (+0,11 %)

$ADBE (+0,27 %)

$NOVO B (+0,5 %)

$AIR (-3 %)

$CDNS (+0,67 %)

$OR (-0,76 %)

$IDXX (-1,1 %)

$EL (+0,96 %)

$FTNT (+1,71 %)

$LULU (-0,55 %)

When I‘m screening markets for my investable universe I look for high-quality compounders with:

• Strong and consistent capital returns (ROCE)
• High and stable profitability (gross, operating, and FCF margins)
• Steady revenue growth over time
• Large market capitalization (mature, established companies)

In detail I’m screening for:

• Market Cap: at least $ 10B
• ROCE 3-Year Avg: ≥ 25%
• ROCE 10-Year Avg: ≥ 25%
• Gross Margin 3-Year Avg: ≥ 50%
• FCF Margin 3-Year Avg: ≥ 20%
• Operating Margin 10-Year Avg: ≥ 25%
• Revenue per share CAGR 3-Year: ≥ 5%
• Revenue per share CAGR 10-Year: ≥ 5%
• FCF per share CAGR 3-Year: ≥ 10%
• FCF per share CAGR 10-Year: ≥ 10%
• Consistency/stability of earnings (from max. 1.0): ≥ 0.8
• No more than 75% revenue exposure to one single country/market (eg. USA)

Here are my current holdings:

$MSFT (+0,74 %)

$META (-0,35 %)

$MA (-0,14 %)

$BRK.B (-0,82 %)

$AMZN (+0,12 %)

$ASML (+0,34 %)

$MSCI (-0,79 %)

$MC (-1,64 %)

$BKNG (+0,04 %)

$SPGI (+0,11 %)

$ADBE (+0,27 %)

$NOVO B (+0,5 %)

$AIR (-3 %)

$CDNS (+0,67 %)

$OR (-0,76 %)

$IDXX (-1,1 %)

$EL (+0,96 %)

$FTNT (+1,71 %)

$LULU (-0,55 %)

Today I‘m sharing with you my main portfolio. This doesn’t include any ETF investments and crypto currencies / gold etc. since I want to focus my presence on getquin on stock-picking.

Read my 3-part portfolio strategy posts to get the full picture - here are just the main pillars of what I‘m doing:

• Long-term buy and hold (average holding time 5+ years at least)
• Focus on high-ROIC compounders riding secular trends (top-tier capital efficiency)
• High margins, strong FCF growth, large moats (7 powers strategy)
• Holding not more than 20 stocks at a time while mainly focusing on US and EU based companies

I like to divide my holdings into „core holdings“ (forever stocks) and „trend picks“ (2030 stocks) as follows:

Core Holdings (“Forever Stocks”):

• $MSFT (+0,74 %)
  $ADBE (+0,27 %)
  $META (-0,35 %)
  $MA (-0,14 %)
  $AMZN (+0,12 %)
• 
  $OR (-0,76 %)
  $MC (-1,64 %)
  $RMS (-1,61 %)
  $EL (+0,96 %)
• 
  $BRK.B (-0,82 %)
  $MSCI (-0,79 %)
  $SPGI (+0,11 %)

Growth Picks (“2030 Stocks”):

• $ASML (+0,34 %)
  $CDNS (+0,67 %)
  $FTNT (+1,71 %)
• 
  $BKNG (+0,04 %)
  $AIR (-3 %)
• 
  $LULU (-0,55 %)
  $IDXX (-1,1 %)
  $NOVO B (+0,5 %)

I use the 7 Powers framework from the book “7 Powers: The Foundations of Business Strategy” by Hamilton Helmer. It’s a killer framework for understanding why some businesses create lasting value and compound returns over time.

Each “Power” is a sustainable strategic advantage that lets a company generate outsized returns for a long time. I ask the 7 questions for each stock I am considering to buy.

1. Counter-Positioning

• What it is: A new entrant adopts a superior business model that incumbents can’t copy without damaging their own biz.
• Example: Netflix vs. Blockbuster. Blockbuster couldn’t move to streaming without killing its DVD revenue.
• Why it matters: Creates asymmetric pressure; the old guard is paralyzed.

2. Scale Economies

• What it is: Unit costs drop as volume increases.
• Example: Amazon, Costco. Bigger = cheaper = stronger moat.
• Why it matters: Hard to compete if you can’t match their cost base.

3. Switching Costs

• What it is: Customers stick around because switching is painful.
• Example: Adobe Creative Cloud, Microsoft Office, Salesforce.
• Why it matters: High retention = stable cash flows = compounding machine.

4. Network Effects

• What it is: The product gets better as more people use it.
• Example: Meta, Visa, LinkedIn.
• Why it matters: Leads to dominance, creates a feedback loop of growth.

5. Branding

• What it is: Emotional or symbolic value, not just functional.
• Example: L’Oréal, Hermès, Apple.
• Why it matters: Lets companies charge premium prices and keeps customers loyal even if alternatives exist.

6. Cornered Resource

• What it is: Exclusive access to a critical asset — talent, IP, data, supply.
• Example: ASML (EUV tech), Novo Nordisk (Ozempic IP), Ferrari (brand + heritage + team).
• Why it matters: If no one else can get it, you win.

7. Process Power

• What it is: Unique internal processes that drive efficiency, innovation, or quality — and are hard to copy.
• Example: Toyota (lean manufacturing), Amazon (logistics, culture of innovation).
• Why it matters: Long-lasting edge baked into the org’s DNA.

If I had to chose one, Network effects would be the most important one for me.

Here are my current holdings:

$MSFT (+0,74 %)

$META (-0,35 %)

$MA (-0,14 %)

$BRK.B (-0,82 %)

$AMZN (+0,12 %)

$ASML (+0,34 %)

$MSCI (-0,79 %)

$MC (-1,64 %)

$BKNG (+0,04 %)

$SPGI (+0,11 %)

$ADBE (+0,27 %)

$NOVO B (+0,5 %)

$AIR (-3 %)

$CDNS (+0,67 %)

$OR (-0,76 %)

$IDXX (-1,1 %)

$EL (+0,96 %)

$FTNT (+1,71 %)

$LULU (-0,55 %)

• Concentrate on the following sectors: Tech, consumer, healthcare, financial (excluding banks), industrials
• Smallest position size 2% / largest position size 15%
• Only sell a position when it can be replaced with a position that increases the overall quality of the portfolio
• Avoid companies with little to no track record or companies going through a restructuring phase

Here are my current holdings:

$MSFT (+0,74 %)

$META (-0,35 %)

$MA (-0,14 %)

$BRK.B (-0,82 %)

$AMZN (+0,12 %)

$ASML (+0,34 %)

$MSCI (-0,79 %)

$MC (-1,64 %)

$BKNG (+0,04 %)

$SPGI (+0,11 %)

$ADBE (+0,27 %)

$NOVO B (+0,5 %)

$AIR (-3 %)

$CDNS (+0,67 %)

$OR (-0,76 %)

$IDXX (-1,1 %)

$EL (+0,96 %)

$RMS (-1,61 %)

$FTNT (+1,71 %)

$LULU (-0,55 %)

My Portfolio is a selection of 15-25 companies which I am buying and planning on never selling. The overall criteria for my #investableuniverse are the following. I will go in-depth in another post:

• Little capital needed to run the business (high ROCE)
• High returns on invested capital (high ROIC)
• Profitability track-record with high gross margins / operating margins / high free cash flow margins
• High free cashflow growth / substantial revenue growth
• Global revenue diversification
• Low cyclicality
• #tollbooth Company - Large moat / brand name in the industry / no alternatives to the product
• Predictable sources of future growth / global trends

Here are my current holdings:

$MSFT (+0,74 %)

$META (-0,35 %)

$MA (-0,14 %)

$BRK.B (-0,82 %)

$AMZN (+0,12 %)

$ASML (+0,34 %)

$MSCI (-0,79 %)

$MC (-1,64 %)

$BKNG (+0,04 %)

$SPGI (+0,11 %)

$ADBE (+0,27 %)

$NOVO B (+0,5 %)

$AIR (-3 %)

$CDNS (+0,67 %)

$OR (-0,76 %)

$IDXX (-1,1 %)

$EL (+0,96 %)

$RMS (-1,61 %)

$FTNT (+1,71 %)

$ADBE (+0,27 %)

$ADBE (+0,27 %)

🔹 Adj. EPS: $5.08 (Est. $4.97) 🟢

🔹 Revenue: $5.71B (Est. $5.66B) 🟢 +10% YoY

Q2'25 Guidance

🔹 Revenue: $5.77B - $5.82B (Est. $5.80B) 😑

🔹 Adj. EPS: $4.95 - $5.00 (Est. $5.00) 😑

FY25 Guidance (Reaffirmed)

🔹 Revenue: $23.3B - $23.55B (Est. $23.51B) 😑

🔹 Adj. EPS: $20.20 - $20.50 (Est. $20.39) 🟢

Segment Performance

🔹 Digital Media Revenue: $4.23B (+11% YoY)

🔹 Digital Media ARR: $17.63B (+12.6% YoY)

🔹 Digital Experience Revenue: $1.41B (+10% YoY)

🔹 Digital Experience Subscription Revenue: $1.30B (+11% YoY)

🔹 New AI-First Innovations Generated $125M in ARR

Other Metrics:

🔹 Operating Income: $2.72B (Est. $2.66B) 🟢

🔹 Adj. Net Income: $2.22B (Est. $2.19B) 🟢

🔹 Operating Cash Flow: $2.48B (Record High)

Key Developments & Management Commentary

🔹 CEO Shantanu Narayen: "Adobe is well-positioned to capitalize on the acceleration of the creative economy driven by AI."

🔹 CFO Dan Durn: "Our AI-first innovations and strong cash flow will drive long-term growth and market share gains."

🔹 Share Buyback: Repurchased 7M shares in Q1