Tuesday was investor day at $GIS (+0,43 %) with a bag full of information. If you want to browse through the 180 slides (also a wild ride through the product portfolio) you can find them on the homepage in the investor section.

In order to save a little time analyzing the presentation and the currently available $GIS (+0,43 %) I got support from ChatGPT (point 3 - I'm not posting the whole calculation here, but it is quite conclusive and comprehensible). Let's see what the AI thinks, whether the current price is fundamentally justified or whether the market is exaggerating.

Does anyone else use AI for analysis or other financial decisions? What are your experiences with it?

Here we go ....

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1. company situation and strategy

General Mills is one of the largest food companies in the world. The "Accelerate Strategy" aims for 2-3 % organic growth, stable margins and over 95 % free cash flow conversion.

The focus is on

• the pet food business (Blue Buffalo, Tiki Cat),
• Premiumization in Snacks & Meals,
• efficiency through the Holistic Margin Management (HMM) program (savings ≈ 5% of COGS p.a.),
• and clear capital discipline with a focus on dividend growth and selective M&A.

The dividend has risen from USD 1.96 to USD 2.40 since 2019, and the trend remains positive.

2. current situation

The share price has fallen significantly since 2024. This is due to short-term declines in earnings (-10 to -15 % in FY26 due to portfolio adjustments) and a general slump in consumption.

Nevertheless, operations are solid: margins slightly higher, cash flow stable, cost efficiency high. The Pet segment continues to grow strongly, Ice Cream (Häagen-Dazs) and Mexican Food (Old El Paso) are showing good momentum worldwide.

3rd valuation - DCF analysis

ChatGPT has created a DCF model based on the company's targets:

• Discount rate (WACC): 7.5%
• Long-term growth: 2.5%
• Free cash flow 2025: USD 2.5 billion

The calculated fair value is around USD 67-68 per share. At a share price of USD 47, this results in a discount of around 30 % (margin of safety). Even with conservative assumptions (8.5 % WACC, 2 % growth), the fair value would still be ~ USD 50 - still slightly above the current level.

4. assessment and approach

Strong brand portfolio, reliable cash flow, 5% dividend yield, stable balance sheet. Unpopular in the short term, attractive in the long term - sounds like a classic value case at this level. At prices below USD 50, the savings plan could be reactivated to increase the position.

$GIS (+0,43 %)

September was the month in which my account shone like the last rays of summer sunshine! Why? The half-year bonus catapulted this month into the month with the highest income of all time. Of course, the money doesn't go into savings, but is put into the market the following month, because share price growth and dividends beat any consumption. There was also an unexpected refund from the dental supplement, which has already been reinvested. Who says that prophylaxis doesn't bring returns after all?

And what else? Business as usual: preparations for ice swimming started at the end of the month thanks to colder temperatures, daily sport and exercise, a nice community meeting of frugalists and investors. Yes, we talked about dividends rather than the latest fashion. Everything was rounded off with a donation. My portfolios went sideways, but did what they are supposed to do: Generate cash flow. And from this month onwards, there will be additional risk figures presented. A little growth and distribution. Time for a review!

Overall performance

This month was a typical month of consolidation for me. My investments moved sideways with only a very slight increase. Is this a good sign for a year-end rally? There was also an initial cut in the Fed's key interest rate. However, there were no major movements, and Q4 is more likely to be responsible for this. As always, income rained down on the account. My key performance indicators for my overall portfolio at a glance:

• TTWROR (month under review): +1,76 % (previous month: +1.01 %)
• TTWROR (since inception): +76,55 %
• IZF (month under review): +9,64 % (previous month: +12.50 %)
• IZF (since inception): +11,15 %
• Delta: +€615.12
• Absolute change: +€2,635.52

Performance & volume

The rise in the price of $AVGO (+1,02 %) allows my largest single share position to grow further and strengthens its dominance. And the class leader has not spilled the beans in terms of performance since purchase either: +337%! After the $BAC (+0,52 %) climbed into the top 5 by volume in the previous month, it remains in this group. The banks are currently doing well. Also$WMT (-1,32 %) The retail giant is a reliable dividend payer and an important pillar among my individual stocks. The competitor$TGT (+2,81 %) on the other hand, is the red lantern in my portfolio. Despite thefts and sales problems, I see a healthy business model. I am sure that this share will bounce back and continue to invest on a monthly basis.

Size of individual share positions by volume in the overall portfolio:

Share (%) of total portfolio and associated portfolio:

$AVGO (+1,02 %) 3.30 % (main share portfolio)

$NFLX (+0,34 %) 1.87 % (main share portfolio)

$WMT (-1,32 %) 1.74 % (main share portfolio)

$FAST (-1,2 %) 1.72 % (main share portfolio)

$BAC (+0,52 %) 1.49 % (main share portfolio)

Smallest individual share positions by volume in the overall portfolio:

Share (%) of the total portfolio and associated securities account:

$SHEL (-0,05 %) : 0.41 % (crypto follow-up portfolio)

$NOVO B (-0,67 %) 0.50 % (main share portfolio)

$TGT (+2,81 %) 0.55 % (crypto follow-on deposit)

$HSBA (+0,26 %) 0.58 % (main share portfolio)

$GIS (+0,43 %) 0.60 % (main share portfolio)

Top-performing individual stocks

Shares with performance since initial purchase (%) and the respective portfolio:

$AVGO (+1,02 %) a: +337 % (main share portfolio)

$NFLX (+0,34 %) : +153 % (main share portfolio)

$WMT (-1,32 %) : +78 % (main share portfolio)

$FAST (-1,2 %) +76 % (main share portfolio)

$SAP (+1,46 %) +75 % (main share portfolio)

Flop performer individual stocks

Shares with performance since initial purchase (%) and the respective portfolio:

$TGT (+2,81 %) : -38 % (main share portfolio)

$GIS (+0,43 %) -31 % (main share portfolio)

$NKE (-0,88 %) -27 % (main share portfolio)

$CPB (+0,87 %) -24 % (main share portfolio)

$UPS (+1,63 %) -24 % (main share portfolio)

Asset allocation

My asset allocation is as follows:

ETFs: 39.1%

Equities: 58.6%

Crypto: 2.2 %

P2P: less than 0.01 %

Investments and subsequent purchases

I have invested the following amounts in savings plans:

Planned savings plan amount from the fixed net salary: € 1,030

Planned savings plan amount from the fixed net salary, incl. reinvested dividends according to plan size: € 1,140

Savings ratio of the savings plans to the fixed net salary: 49.75

In addition, the following additional investments were made from returns, refunds, cashback, etc. as one-off savings plans/repurchases:

Subsequent purchases/one-off savings plans as cashback annuities from refunds: € 73.00

Subsequent purchases/non-recurring savings plans as cashback annuities from bonuses/incentives from the KK: € 0.00

Subsequent purchases from other surpluses: € 31.00

Automatically reinvested dividends by the broker: € 5.03 (function is only activated for an old custody account, as I otherwise prefer to control the reinvestment myself)

Additional purchases were made:

Number of additional purchases: 2

73.00 € for $TDIV (+0,53 %)

25.00 € for $ZPRG (-0,03 %)

Passive income from dividends

My income from dividends amounted to € 139.14 (€ 128.42 in the same month of the previous year). This corresponds to a change of -1.36% compared to the same month last year. The slight decrease is due to the fact that my large Vanguard ETFs postponed the distribution to the following month. The following are further key data on the distributions:

Number of dividend payments: 34

Number of payment days: 17 days

Average dividend per payment: € 4.09

average dividend per payment day: € 8.18

The top three payers are:

$ARCC (+0,68 %)

$UPS (+1,63 %)

$DXSA (+0,66 %)

My passive income from dividends (and some interest) mathematically covered 16.05% of my expenses in the month under review.

Crypto performance

My crypto portfolio ran sideways in September with highs and lows. The hope here lies more in the coming Q4. My key figures:

Performance in the reporting period: +8.66 %

Performance since inception: +135.10

Share of holdings for which the tax holding period has expired: 98.57 %.

Crypto share of the total portfolio: 2.20 %

I am vigilant with regard to crypto. The exit should continue. I don't want to provide the exit liquidity for the other market participants. There will be news in the following month.

Performance comparison: portfolio vs. benchmarks

A comparison of my portfolio with two important ETFs shows:

TTWROR (current month): +1,76 %

$VWRL (+0,91 %) : +2,63 %

$VUSA (+0,95 %) : +2,56 %

One possible explanation for the poorer performance compared to the index values could be a higher proportion of individual shares,

New: Risk indicators

Here are my key risk figures for the month under review (and in brackets YTD)

Maximum drawdown: 0.94% (17.17%)

Maximum drawdown duration: 19+ days (231+ days)

Volatility: 1.68% (11.51%)

Sharpe Ratio: 5.73 (0.29)

Semi-volatility: 1.21% (9.04%)

An extremely low drawdown of only 0.94% shows that your portfolio had hardly any fluctuations during the month. This is typical for a sideways phase or stable markets.

The YTD drawdown of 17.17% is no coincidence: Trump's tariffs have mainly affected consumer-related stocks such as $TGT (+2,81 %) have been hit. However, my focus on stable dividend payers and broad-based ETFs has limited the losses. The fact is, however, that Trump has put a dent in my figures.

Outlook

As you can see from the introduction, there were no highlights, but there were also no disasters for me to report on. So we're done for this month. Thanks for reading!

However, I still have some questions for you to improve my review:

Are you also interested in the performance and top/flop5 of my ETFs or cryptos? Then let me know in the comments and I'll include it in the coming months.

In my posts on Instagram and also here, I keep talking about my cashback pension. Would you like to know more about the concept, what's behind it for me and how it will supplement my "share and ETF pension"?

My review here on getquin includes additional key figures as well as those from my Instagram reviews. Would you also like to see more from the budget review of my private finances included here as a little extra?

👉 Would you like to view my review as an Instagram Carousel post?

Then follow me on Instagram:

📲 There's also 3 posts a week in addition to the portfolio and budget review: @frugalfreisein

Please pay close attention to the spelling, unfortunately there are too many fake and phishing accounts on social media. I have also been "copied" several times now.

👉 How was your month in the portfolio? Do you have any tops and flops to report?

Leave your thoughts in the comments!

August gave us another real midsummer and showed its best side on some days. For me, it was the perfect opportunity to pursue one of my hobbies: Swimming, swimming and swimming again. I enjoyed every minute in the now cooler water. There was no hiking this month, but the swimming made up for it completely. I'm slowly looking forward to cooler temperatures again, because the cold adaptation for ice swimming is already calling! But before we head into fall, it's time for a look back.

Overall performance

After the brief consolidation caused by the new Trump tariffs, my portfolio recovered quickly and showed a stable, slightly positive performance in August. The prospect of interest rate cuts by the Fed provided a small boost, but there were no major movements. Typical summer slump. But, as expected, what had to come arrived on time: the distributions. My key performance indicators for my overall portfolio at a glance:

• TTWROR (month of August): +1.01 % (previous month: +3.82 %)
• TTWROR (since inception): +73,69 %
• IZF (month of August): +12.50 % (previous month: +46.14 %)
• IZF (since inception): +10,79 %
• Delta: +794.74 €
• Absolute change: +1,850.61 €

Performance & volume

My class leader continues to expand its dominance. If this continues, it will soon become a decisive factor in overall performance. The $BOA rises into the top 5 by volume, $SAP (+1,46 %) falls back. Rising in terms of performance$MAIN (+0,27 %) and there, too, the$SAP (+1,46 %) falls back. I also notice something about the winners of the red lantern in terms of performance:$NOVO B (-0,67 %) has reached the bottom basement, once one of my very strongest stocks. So the tide is turning. Opportunity to buy more? Instead$CPB (+0,87 %) has risen from the cellar. But this share still has a long way to go.

Size of individual share positions by volume in the overall portfolio:

Share (%) of total portfolio and associated portfolio:

• $AVGO (+1,02 %) : 3.30 % (main share portfolio)
• $NFLX (+0,34 %) 1.98 % (main share portfolio)
• $WMT (-1,32 %) 1.72 % (main share portfolio)
• $FAST (-1,2 %) s: 1.69 % (main share portfolio)
• $BOA 1.45 % (main share portfolio)

Smallest individual share positions by volume in the overall portfolio:

Share proportion (%) of the total portfolio and associated securities account:

• $SHEL (-0,05 %) : 0.42 % (crypto follow-on portfolio)
• $NOVO B (-0,67 %) 0.49 % (main share portfolio)
• $HSBA (+0,26 %) 0.54 % (crypto follow-on portfolio)
• $TGT (+2,81 %) 0.57 % (main share portfolio)
• $GIS (+0,43 %) 0.61 % (main share portfolio)

Top-performing individual stocks

Shares with performance since initial purchase (%) and the respective portfolio:

• $AVGO (+1,02 %) : +328 % (main share portfolio)
• $NFLX (+0,34 %) : +176 % (main share portfolio)
• $FAST (-1,2 %) +83 % (main share portfolio)
• $MAIN (+0,27 %) : +79 % (main share portfolio)
• $SAP (+1,46 %) +74 % (main share portfolio)

Flop performer individual stocks

Shares with performance since initial purchase (%) and the respective portfolio:

• $TGT (+2,81 %) : -36 % (main share portfolio)
• $GIS (+0,43 %) -31 % (main share portfolio)
• $UPS (+1,63 %) -26 % (main share portfolio)
• $NKE (-0,88 %) -25 % (main share portfolio)
• $NOVO B (-0,67 %) -21 % (main share portfolio)

Asset allocation

My asset allocation is as follows:

• ETFs: 38.3 %
• Equities: 59.0 %
• Crypto: 2.60%
• P2P: less than 0.01%

Investments and subsequent purchases

Here is a small overview of what I have invested via savings plans according to my fixed planning.

• Planned savings plan amount from the fixed net salary: €1,030
• Planned savings plan amount from the fixed net salary, incl. reinvested dividends: €1,140
• Savings ratio of the savings plans to the fixed net salary: 49.75

In addition, there were the following additional investments from returns, refunds, cashback, etc. as one-off savings plans/repurchases:

• Subsequent purchases/one-off savings plans as cashback annuities from refunds: € 79.00
• Subsequent purchases/one-off savings plans as a cashback annuity from bonuses/incentives from the KK: € 20.00
• Subsequent purchases from other surpluses: € 30.00
• Automatically reinvested dividends by the broker: € 3.01 (this function is only activated for an old custody account, as I otherwise prefer to manage the reinvestment myself)

Additional purchases were made:

• Number of additional purchases: 3
• 55.00 € for $JEGP (-0,15 %)
• 
  44.00 € for $GGRP (+0,6 %)
• 
  30.00 € for $FGEQ (+0,67 %)
• 
  295.08 € for $DXSA (+0,66 %) (funds from the sale of a $ETH (+1,09 %) tranche)

If you want to know how my cashback pension tops up my share and ETF pension, please write it in the comments.

Passive income from dividends

My income from dividends amounted to €128.42 (€92.61 in the same month last year). This corresponds to an increase of +38,67 % compared to the same month last year. The following is further key data on the distributions:

• Number of dividend payments: 22
• Number of payment days: 12 days
• Average dividend per payment: € 5.83
• average dividend per payment day: € 10.70

The top three payers are:

• $IWDP (+0,02 %)
• 
  $ISPA (+0,52 %)
• 
  $ZPRG (-0,03 %)

My passive income from dividends (and some interest) mathematically covered 14.94% of my expenses in the month under review.

Crypto performance

My crypto portfolio was characterized by the partial sale of a $ETH (+1,09 %) tranche as part of my "crypto succession strategy". Around € 298 in Etherium was taken off the table.

Here are some key figures:

• Monthly performance portfolio: +0.29 %
• Performance since inception: +134.35 %
• Share of holdings for which the tax holding period has expired: 98.55 %.
• Crypto share of the total portfolio: 2.20 %

The sale of the tranche explains the decline in the crypto share from 2.6% to 2.2%

As a "follower" of the crypto cycle, I am increasingly accepting the idea that the cycle is still in tact, but is expanding. The reason for this should be the ETF purchases and the activities of the crypto treasury companies. Retail still seems to be asleep. The playing field is very exciting, if only from a macroeconomic perspective. I can only advise looking into the cycle and issues such as money creation and the correlation between the M2 money supply and $BTC. Although I am not a fan of cryptocurrencies, I think they are a sensible component of a balanced portfolio.

Performance comparison: portfolio vs. benchmarks

A comparison of my portfolio with two important ETFs shows

• TTWROR (current month): +1,01 %
• $VWRL (+0,91 %) : -0,33 %
• $VUSA (+0,95 %) : -1,13 %

Outlook and a private bonus

My Carousel posts of the portfolio review and budget review always start on the hook slide with a background image from my month. These are usually places I've visited or moments that have moved me. This time it's the same, although a CT scan would almost be more appropriate.

A chest CT confirmed what I had been wondering about for some time: my ascending aorta is dilated. This is a consequence of my congenital heart valve defect. Fortunately, it was discovered early before it could develop into an aneurysm, dissection or even rupture. A classic chance discovery, a stroke of luck. I was able to keep the heart valve "in check" for a long time, and fortunately there are currently no worse findings for it. But the diagnosis of the ascending aorta now brings certainty: an operation will certainly be necessary at some point.

Why am I sharing this here? Because it has taught me humility once again. The diagnosis isn't nice, but it's not a surprise either. Perhaps my v. A. more active lifestyle since corona has contributed to the fact that it is stable today and still allows me to do a lot: sporting activity, which I have fought my way back over the years. The restrictions that already apply to avoid pressure peaks on the aorta are minimal. My quality of life is still very high.

My conclusion: Keep fit, go for check-ups and take your body seriously. Invest in your health and fitness. Our deposits are only worth as much as our health allows us to enjoy them.

So I will be able to visit the cardiologist and radiologist even more regularly in future, an honor! (irony off). Everything will be fine!

👉 You want my review as an Instagram post?

Then follow me on Instagram:

📲 In addition to the portfolio and extra budget review, you'll also find regular posts there: @frugalfreisein

Please pay close attention to the spelling, unfortunately there are too many fake and phishing accounts on social media. I have already been "copied" several times.

👉 How was your August at the depot? Do you have any tops and flops to report?

Leave your thoughts in the comments!

Midsummer should be in full swing in July, but summer prefers to take a breather. While the temperatures outside were rather cool for most of July, which fortunately didn't keep me from swimming and hiking, it was hot in the depot. Time for a look back.

Overall performance

In July, the portfolio made a significant leap upwards, possibly due to further crypto adoption, good labor market data, robust quarterly reports and a further decline in inflation in a positive environment. The big icing on the cake is of course the continued incoming cash flow from dividends and distributions. My key performance indicators are:

• TTWROR (month of July): +3.82 % (previous month: +0.19 %)
• TTWROR (since inception): +72,72 %
• IZF (month of July): +46.14 % (previous month: 2.47 %)
• IZF (since inception): +10,87 %
• Delta: +€2,468.62
• Absolute change: +€3,677.52

Performance & volume

Size of individual share positions by volume in the overall portfolio:

• Share: Share of total portfolio in % (securities account)
• $AVGO (+1,02 %) 2.98 % (main share portfolio)
• $NFLX (+0,34 %) 1.92 % (main share portfolio)
• $WMT (-1,32 %) 1.72 % (main share portfolio)
• $FAST (-1,2 %) 1.64 % (main share portfolio)
• $SAP (+1,46 %) 1.49 % (main share portfolio)

Smallest individual share positions by volume in the overall portfolio:

• Share: Share of total portfolio in % (custody account)
• $SHEL (-0,05 %) : 0.44 % (crypto follow-on portfolio)
• $NOVO B (-0,67 %) 0.45 % (main share portfolio)
• $HSBA (+0,26 %) 0.53 % (crypto follow-on portfolio)
• $GIS (+0,43 %) 0.60 % (main share portfolio)
• $TGT (+2,81 %) 0.64 % (main share portfolio)

Top-performing individual stocks

• Share: Performance since first purchase % (securities account)
• $AVGO (+1,02 %) +299 % (main share portfolio)
• $NFLX (+0,34 %) +174 % (main share portfolio)
• $FAST (-1,2 %) +86 % (main share portfolio)
• $SAP (+1,46 %) : +83 % (main share portfolio)
• $MAIN (+0,27 %) +82 % (main share portfolio)

Flop performer individual shares

• Share: Performance since first purchase % (securities account)
• $GIS (+0,43 %) -33 % (main share portfolio)
• $TGT (+2,81 %) -30 % (main share portfolio)
• $NOVO B (-0,67 %) -27 % (main share portfolio)
• $UPS (+1,63 %) -24 % (main share portfolio)
• $CPB (+0,87 %) -23 % (main share portfolio)

Asset allocation

My asset allocation is as follows:

• ETFs: 38.3 %
• Equities: 59.0 %
• Crypto: 2.60%
• P2P: less than 0.01%

Investments and subsequent purchases

Here is a small overview of what I have invested via savings plans according to my fixed planning.

• Planned savings plan amount from the fixed net salary: €1,030
• Planned savings plan amount from the fixed net salary, incl. reinvested dividends: €1,140
• Savings ratio of the savings plans to the fixed net salary: 49.75

In addition, there were the following additional investments from returns, refunds, cashback, etc. as one-off savings plans/repurchases:

• Repurchases/one-off savings plans as cashback annuities from refunds: € 70.77
• Subsequent purchases from other surpluses: € 135.00
• Automatically reinvested dividends by brokers: € 4.04 (Function is only activated for an old custody account, as I control the reinvestment myself)

Additional purchases were made:

• Number of additional purchases: 3
• 61.96 € for $SPYD (+0,2 %)
• 
  58.00 € for $GGRP (+0,6 %)
• 
  90.00 € for $JEGP (-0,15 %)

If you want to know how my cashback pension tops up my share and ETF pension, please let me know.

Passive income from dividends

My income from dividends amounted to € 222.47 (€ 93.27 in the same month last year). This corresponds to an increase of +138,52 % compared to the same month last year. The following are further key figures on the distributions:

• Number of dividend payments: 28
• Number of payment days: 12 days
• Average dividend per payment: € 7.95
• average dividend per payment day: € 18.54

The top payers are:

• $ISPA (+0,52 %)
• 
  $VWRL (+0,91 %)
• 
  $VHYL (+0,35 %)

My passive income from dividends (and some interest) mathematically covered 27.12% of my expenses in the month under review.

Crypto performance

My crypto investments have also moved:

• Monthly performance portfolio: +9.49
• Performance since inception: +114.72 %
• Proportion of holdings for which the tax holding period has expired: 98.55%. Accordingly, there was one subsequent purchase in the month under review $ADA (-0,5 %) ).
• Crypto share of the total portfolio: 2.60 %

Crypto remains exciting for me. Due to many external influences (ETF inflows, treasury companies, Genius and Clarity Act, ...), the question arises as to whether the cycle theory is beginning to falter. Or not? Will it be different this time?

Performance comparison: portfolio vs. benchmarks

A comparison of my portfolio with two important ETFs shows:

• TTWROR (current month): +3,28 %
• Vanguard FTSE All World Dist ETF: +5.23 %
• Vanguard S&P 500 Dist ETF: +6.41 %

Outlook and conclusion

Crypto remains exciting for me. Due to many external influences (ETF inflows, treasury companies, Genius and Clarity Act, ...), the question arises as to whether the cycle theory is beginning to falter. Or not? Will it be different this time?

👉 You want my review as an Instagram post?

Then follow me on Instagram:

📲 In addition to the portfolio and budget review, you'll also find regular posts there: @frugalfreisein

👉 How was your July at the depot? Do you have any tops & flops to report?

Leave your thoughts in the comments!

General Mills has a P/E of around 11.8×, which indicates that it is trading at a relatively low price.

The payout stands at 52%, leaving room to increase the dividend in the future.

The company regularly carries out share buyback programs, which contributes to shareholder appreciation.

The dividend yield is around 4.8%, interesting for those looking for a stable income over the long term.

In the last fiscal year, it generated around 2.3 billion USD in available cash flow, with a conversion rate to adjusted earnings of 97% - a sign of strong cash generation capacity.

The free cash flow yield of 8.34% reinforces its financial strength, allowing it to support dividends, buybacks and strategic investments with a comfortable margin.

Good morning dear community, so yesterday I decided to sell $ETH (+1,09 %) to sell and instead $NOVO B (-0,67 %) & further purchases of $GIS (+0,43 %)
$LYB (+2,76 %)
$O (+0,23 %) for my dividend portfolio. It was probably a bad mistake, but I'm letting my other altcoins continue to $SOL (+0,78 %)
$AVAX (-0,28 %)
$UNI (-1,22 %)
$DOT (-1,08 %)
$MATIC continue to run.

What do you think the altcoin season will be like now? I still find $UNH (-0,38 %) interesting 🧐 But there are still investigations going on. I think it's very remarkable how the share has performed, with a €1000 investment in the 1980s you'd be a millionaire now 🫠

Have a nice weekend ✌️

The start of summer in June combined sport and leisure for me. By that I mean swimming, hiking, running and sport at home. Apart from the incoming dividends, I hardly noticed anything on the stock market. It was not the strongest distribution month due to the postponement of three distributions, but it was still a very strong one. Time for a review.

Overall performance

The portfolio tended to tread water in June, but that is no cause for concern. Bit by bit, it is fighting its way out of the lows of the customs conflict. And cash flow continues to be generated by distributions to the clearing accounts. The key performance indicators are:

• TTWROR (month of May): +0.19 %
• TTWROR (since inception): +65,45 %
• IZF (month of May): +2.47 %
• IZF (since inception): +10,21 %
• Delta: +€148.63
• Absolute change: +1,173.63 €

Share allocation & performance

Which shares performed particularly well in June? Which are at the top and which at the bottom of the rankings? Which were the biggest losers?

Size of individual share positions by volume

• Share: Share of total portfolio in % (securities account)
• $AVGO (+1,02 %) 2.78 % (main share portfolio)
• $NFLX (+0,34 %) 2.20 % (main share portfolio)
• $WMT (-1,32 %) 1.71 % (main share portfolio)
• $SAP (+1,46 %) 1.59 % (main share portfolio)
• $FAST (-1,2 %) 1.55 % (main share portfolio)

Smallest individual share positions by volume:

• Share: Share of total portfolio in % (securities account)
• $SHEL (-0,05 %) 0.44 % (crypto follow-on portfolio)
• $HSBA (+0,26 %) 0.54 % (crypto follow-on portfolio)
• $TGT (+2,81 %) 0.62 % (main share portfolio)
• $GIS (+0,43 %) 0.63 % (main share portfolio)
• $CPB (+0,87 %) 0.64 % (main share portfolio)

Top-performing individual shares

• Share: Performance since first purchase % (securities account)
• $AVGO (+1,02 %) : +261 % (main share portfolio)
• $NFLX (+0,34 %) : +198 % (main share portfolio)
• $SAP (+1,46 %) +106 % (main share portfolio)
• $WMT (-1,32 %) : +68 % (main share portfolio)
• $RSG (-0,92 %) +47 % (main share portfolio)

Flop performer individual shares

• Share: Performance since first purchase % (securities account)
• $DHR (-1,22 %) -57 % (main share portfolio)
• $CPB (+0,87 %) -42 % (main share portfolio)
• $TGT (+2,81 %) -37 % (main share portfolio)
• $GIS (+0,43 %) -36 % (main share portfolio)
• $NKE (-0,88 %) -30 % (main share portfolio)

ETFs vs. shares

The breakdown of ETFs vs. shares across all portfolios is 38.7% to 61.3%. This differs from the breakdown of my ETFs to equities savings plans (43% to 57%). Equities have performed better, which is due to the fact that I also include high-dividend ETFs in the ETFs.

Investments and additional purchases

Here is a brief overview of what I have invested in savings plans according to my fixed planning.

• Planned savings plan amount from the fixed net salary: €1,030
• Planned savings plan amount from the fixed net salary, with reinvested dividends: €1,140
• Savings ratio of the savings plans to the fixed net salary: 49.75

In addition, there were the following additional investments from returns, refunds, cashback, etc. as one-off savings plans/repurchases:

• Subsequent purchases/one-off savings plans as cashback annuity from refunds: € 32.32
• Automatically reinvested dividend by broker: € 7.25 (Function is only activated for an old custody account, as I want to control the reinvestment myself)

Additional purchases were made from other surpluses:

• Number of additional purchases: 2
• 25.00 € for $FGEQ (+0,67 %)

There were no additional purchases from the components of my cashback pension (e.g. reimbursements from health insurance premiums, insurance premiums, shopping vouchers, etc.) this month.

If you would like to know how my cashback pension supplements my equity and ETF pension, please let me know.

Passive income from dividends

My income from dividends amounted to € 152.30 (€ 179.04 in the same month last year). This corresponds to an increase of -14.94 % compared to the same month last year. The following is further key data on the distributions:

• Number of dividend payments: 31
• Number of payment days: 15 days
• Average dividend per payment: € 4.91
• average dividend per payday: € 10.15

The top payers are:

• $VNA (-0,94 %)
• 
  $ARCC (+0,68 %)
• 
  $TDIV (+0,53 %)

My passive income from dividends (and some interest) mathematically covered 15.91% of my expenses in the month under review.

Crypto performance

My crypto investments also moved a little:

• Monthly performance portfolio: +3.81 %
• Performance since inception: +79.49 %
• Proportion of holdings for which the tax holding period has expired: 100%. This means that there have been no additional purchases for over a year.
• Crypto share of the total portfolio: 2.19 %

I find the topic exciting, but it is very underrepresented in my overall portfolio due to my passive income strategy. The first profits have already been realized and more will definitely follow. For me, crypto is a lever to turn play money into even more play money, which is then put into the solid distributors to make the income snowball grow bigger and bigger. New accumulation will take place in the coming bear market.

Performance comparison: portfolio vs. benchmarks

A comparison of my portfolio with two important ETFs shows:

• TTWROR (current month): +0.19 %
• $VWRL (+0,91 %) : +0.39 %
• $VUSA (+0,95 %) : +1.24 %

Outlook and conclusion

I'm using the summer, which has already begun, not only for hiking, but also for city trips for my "non-financial" TikTok and Insta channel. I can often be found at one of the lakes near Leipzig, which were once created from the open-cast mining pits of the brown coal era. It's nice that the lunar landscapes have become a local recreation area. That's why I'm less active at the moment. That will certainly change again in the fall.

For now, I'm just enjoying life, and my money continues to work stubbornly and steadily for me in the background. Current events in the world and in politics don't interest me in the slightest. As I write this review, the first third of the summer will soon be over.

👉 You want my review as an Instagram post?

Then follow me on Instagram:

📲 You'll find regular posts there as well as the portfolio and budget review: @frugalfreisein

How did your June at the depot go? Do you have any tops & flops to share? Leave your thoughts in the comments!