...another month has come and gone, and nothing has really changed—except that the milestone isn’t a stock market event, but rather my passing the DATEV certification exam (law firm accounting/financial accounting) 🥳

"But investing in yourself often pays off much more than just stubbornly clinging to the past."

Otherwise, there wasn’t much spectacular going on, except for more gradual growth...

...so things continue to look good month-over-month and are also steadily on track for the year...

...the same trend can be seen in the overall view...

...so even though this isn’t a high-flyer portfolio, I’m still looking to the future with confidence, despite all the ups and downs.

And of the last 10% to reach the halfway point, another solid 1.5% has now been achieved (maybe there’s still room for more @Solitair )

》DIVIDENDS《

Unfortunately, this month’s net total was only €91.53 (-13.77% YOY), but this is due to the fact that one stock won’t pay out until next month and another is paying out less.

Looking at the year as a whole, the YOC stands at 6.78%, which is still close to the 7% target, despite investments in growth stocks.

》TOP 3《

$AII (-0,26 %) +53.08% (+61.44%)

$DTE (+2,62 %) +5.70% (+3.76%)

$YYYY (-0,23 %) +5.82% (+1.01%)

》FLOP 3《

$BATS (-0,94 %) -8.92% (+98.49%)

$3750 (-3,62 %) -4.83% (+117.94%)

$HSBA (+0,44 %) -4.60% (+84.70%)

》NEW POSITIONS《

44.14 x $WINC (+0,36 %)

65 x x $FTWG (+0,31 %)

》DISPOSALS《

------

》CONCLUSION《

Everything remains the same, and personal education and professional development continue to be key to success...

With that in mind, here’s to continued success for all of us here in the community 💪🏻

I invest with a focus on dividend growth, quality, and attractive valuations. That’s why I set a maximum purchase price for each position based on dividend yield, growth expectations, and my own Margin of Safety (MOS).

I use this overview as a guide to keep emotions out of my buying decisions and to wait patiently for opportunities.

$LMT (-2,19 %)
$UNH (+0,97 %)
$MCD (-0,11 %)
$JNJ (+1,6 %)
$PEP (+0,69 %)
$PG (+1,01 %)
$QCOM (+1,96 %)
$UPS (+0,4 %)
$NN (+0,99 %)
$ASRNL (+0,77 %)
$KO (+0,57 %)
$WKL (-2,84 %)
$MO (+0,03 %)
$ADC (+0 %)
$MAIN (-1,08 %)
$O (+0,24 %)
$TDIV (-0,25 %)
$VPK (-1,02 %)
$SHEL (-0,47 %)
$AD (-0,29 %)
$DTE (+2,62 %)
$WHA (+0,05 %)
$EOAN (-1,05 %)

$DTE (+2,62 %) - I was wondering why Telekom is up quite a bit today. Apparently, they've expanded their share buyback program. According to Handelsblatt, the buyback volume is increasing from 2 billion to up to 5 billion euros.

Another month has passed, and it’s time once again to take a quick look into the engine room...

...actually, not much has changed in the big picture, except that after 38 months of consistent performance, the 40k mark has been broken, and so the final sprint of the first half has now begun...

...it’s not a high-flyer portfolio, but so far it’s been a solid growth story, and as the saying goes, every little bit helps...

...which is why YTD hasn’t changed much either...

...nor has it since the very beginning...

...the structure, however, is a different story, and so there were a few changes to the portfolio this month...

》New Additions《

$WINC (+0,36 %) 244.01x

$MUV2 (+0,13 %) 1x

$AII (-0,26 %) 101x

》Exits《

$EVD (+2,1 %) 25x

$3750 (-3,62 %) 8x

》Top 3《

$HAUTO (+0,06 %) +24.42% (+122.67%)

$VAR (+0,51 %) +19.82% (+60.72%)

$DTE (+2,62 %) +10.61% (-1.53%)

》Flop 3《

$3750 (-3,62 %) -10.58% (+128.32%)

$ASWM (+1,19 %) -9.86% (+17.84%)

$YYYY (-0,23 %) -7.01% (-4.80%)

》Dividends《

This month, there were €252.24 in net dividends, representing a 12.24% increase year-over-year.

》CONCLUSION《

Everything’s business as usual, so we can relax and prepare for next Friday’s upcoming DATEV certification 👍🏻

I wish everyone continued success, and may dividends and growth be on our side 🫡

Hey,

June is finally over. First off, here’s the scoop: Installing the solar panel system is still going to be a real headache. But more on that later. As usual, let’s take a look at the performance first.

📈 Performance:

S&P 500: +0.85%

MSCI World: +1.29%

DAX: -0.43%

Dividend portfolio: +0.21%

My top and bottom performers in June were (Top 3/Bottom 3):

🟢 ($JNJ (+1,6 %) ) Johnson & Johnson +15.36%

🟢 ($UNH (+0,97 %) ) United Health +13.54%

🟢 $LLY (+0,18 %) ) Eli Lilly +13.35%

🔴 ($8058 (+1,17 %) ) Mitsubishi -12.98%

🔴 ($MSFT (-0,54 %) ) Microsoft -14.37%

🔴 ($DTE (+2,62 %) ) Deutsche Telekom -17.36%

Dividends:

June 2026: €272.72

June 2025: €343.94

Change: -20.71%

What caused this? Ping An Insurance won’t pay out until July this year. Petroleo Brasileiro is still missing; I expect €13.38 (gross). So probably just over €10. Gladstone Invest had a special dividend last year. There wasn’t one this year.

Sales:

🟥 None

Purchases:

🟩 None

Investment plans:

($CTAS (-1,16 %) ) Cintas (50€)

($MSFT (-0,54 %) ) Microsoft (€25)

I’ve paused the LVMH savings plan because I’m almost at my target amount, so I’ll top up the remaining shares to full shares as soon as I have money available again.

What else has been going on?

The solar panel system was installed on the roof right on schedule. Everything went off without a hitch. It was supposed to be connected on June 25. However, that was postponed and was scheduled for June 30. The electricians arrived on time, but unfortunately didn’t finish the job.

However, the technicians cut through the fiber-optic cable. We were able to patch it up temporarily, but now there are four LAN cables running right across the basement. It doesn’t look great, but it works. The company will repair the fiber-optic cable soon.

Since it’s already July as I’m writing this, I’ll give you a little spoiler: The hot water isn’t working, the wallbox isn’t working either, and no one knows why. You’ll find out how this turns out (which I don’t know yet either) in the July recap.

🥅 Goals for 2026:

I’m aiming to reach €85,000 in my dividend portfolio this year. I’m currently at around €79,696, so at least in theory, anything is still possible. I still have the dividends to reinvest. A pure price increase would now require just under 6.25%. So that’s a bit unrealistic. I’m expecting about €1,500 in net dividends this year (according to getquin). So, with the reinvestment of dividends plus price appreciation, it’s definitely still achievable.

If you enjoyed this post and would like to read more like it, feel free to follow me;

if you’re not interested, feel free to scroll past or use the block feature.

Monday:

Because of the new competitor $SPCX (-1,08 %) SpaceX, $DTE (+2,62 %) Deutsche Telekom is apparently planning a merger with Telekom US. The new holding company could be headquartered in Ireland or Switzerland, similar to what we’ve already seen with Linde. A move that seems somewhat absurd, considering that we’re talking about Deutsche Telekom. In any case, the plans aren’t going over well on the stock market—or rather, the assessment that competition from SpaceX will be so fierce.

https://www.wiwo.de/unternehmen/dienstleister/spekulation-um-fusion-arbeiten-telekom-und-t-mobile-an-einem-geheimen-mega-projekt/100219680.html

Tuesday:

Partly due to the fuel rebate, which is set to expire on Wednesday, inflation in Germany stood at just 2.3%. This puts it only slightly above the ECB’s 2.0% inflation target.

https://www.handelsblatt.com/finanzen/geldpolitik/tankrabatt-inflationsrate-in-deutschland-faellt-auf-23-prozent/100235017.html

Nike exceeded expectations for quarterly revenue and posted higher quarterly earnings. This was due, in part, to $NKE (+0,31 %) Nike is receiving refunds for overpaid customs duties.

https://www.handelsblatt.com/unternehmen/industrie/geschaeftszahlen-newsblog-nike-uebertrifft-umsatzerwartungen-aktie-legt-nachboerslich-zu/24098412.html

Wednesday:

It was revealed that Donald Trump earned more than $1 billion from crypto projects alone during his first year in office. These included meme coins that have lost significant value. Trump’s earnings have also multiplied compared to 2024.

https://www.bbc.com/news/articles/cvgmv98ez3zo

Thursday:

$BAYN (+0,96 %) Bayer is taking the next step to finally distance itself from the glyphosate lawsuits. Glyphosate is being spun off into the new business unit Ruveon.

https://www.finanzen.net/nachricht/aktien/nach-roundup-rechtsstreit-bayer-aktie-nimmt-50-euro-marke-ins-visier-operatives-us-glyphosatgeschaeft-wird-ausgegliedert-15776894

$DTE (+2,62 %)

Hello everyone,

After slipping below the 25-euro mark, Telekom stock is testing new multi-month lows. Looking beyond the daily chart noise, there are currently three fundamental and technical drivers weighing on the price, but at the same time creating an interesting risk-reward ratio (RWR).

1. End of price support from the share buyback program

Technical support on the chart is currently fading, as the multi-billion-euro share buyback program is set to expire at the end of June as planned. The market’s reliable institutional buyer is thus taking a break for the time being, which has temporarily increased selling pressure in the order book.

2. The T-Mobile US merger rumors

Ongoing reports of a transatlantic holding company merger with T-Mobile US (to finally secure a majority stake in the U.S. and structurally block attacks such as those from SpaceX/Starlink) are causing uncertainty. A deal of this magnitude is extremely complex and ties up capital. Operationally, this does not change the fact that Telekom holds an absolute majority in the U.S., but the market is currently pricing in this short-term uncertainty.

3. The market views AI infrastructure as “traditional telecom”

Fundamentally, Telekom is still priced as a pure network operator (expected P/E ratio currently below 13, dividend yield just under 4%). Meanwhile, the Industrial AI Cloud launched in Munich in February (10,000 Nvidia Blackwell chips in the SAP stack)—which serves as Telekom’s own European cloud infrastructure for large corporations—has so far been completely ignored by the market.

Conclusion:

The fundamental valuation is becoming increasingly attractive at prices around €24.80. Those who view the stock as a defensive dividend play will find a solid foundation here for building a position following the technical correction in June, as the operational targets for 2026 (approx. €19 billion in free cash flow) remain fully intact.

How do you assess the current price level? Wait for a technical bottom, or start buying the first tranche?

Here’s another relevant video.

https://youtu.be/WLIFaVSrVtI?is=No58apZ7ro607RiA

The $DTE (+2,62 %) is taking a massive hit after weeks of speculation about a merger with its U.S. subsidiary, compounded now by takeover speculation $SPCX (-1,08 %) have surfaced.

https://www.boerse-online.de//nachrichten/aktien/uebernahmeziel-erster-wahl-klaut-spacex-der-deutschen-telekom-ihr-tafelsilber-20403628.html

Since key support at €26 couldn’t be held, the price could now plummet to €23. I’ll wait and see for now, but then possibly buy more at the bottom if necessary. I don’t believe the takeover will happen, but I now see the merger as much more realistic than I did a few weeks ago.

As we do every Sunday, here are the top news stories from the past week:

Monday:

Elon Musk may have raked in billions from SpaceX’s $SPCX (-1,08 %) SpaceX, but apparently the money isn’t enough for his AI ambitions, so he’s launching a $20 billion bond program. This isn’t going over well with SpaceX investors. The bonds are expected to yield about 5–6% interest.

https://www.manager-magazin.de/unternehmen/tech/spacex-raumfahrtfirma-plant-anleiheemission-ueber-20-milliarden-dollar-a-a53d0f6c-f213-46e1-b2f0-ba302b56c037

Tuesday:

DB has once again outdone itself and hit an all-time low. For hours overnight, no trains ran in Germany. Other former state-owned corporations, such as $DHLGY (-0,54 %) Deutsche Post (DHL) or $DTE (+2,62 %) Deutsche Telekom, do not face comparable problems. Perhaps we should consider further privatization of DB or follow the Swiss model (where local municipalities also have a say at the regional level).

https://www.tagesschau.de/wirtschaft/unternehmen/deutsche-bahn-stoerung-zugfunk-100.html

Wednesday:

$ADS (+0,25 %) Adidas is reportedly selling three times as many DFB jerseys as it did in Qatar in 2022. This may be partly because people can now actually wear the DFB jersey. The switch to $NKE (+0,31 %) Nike could also be a factor.

https://www.handelsblatt.com/arts_und_style/lifestyle/wm-2026-deutschland-trikots-laut-adidas-boss-begehrt-wie-nie/100231388.html

$VOW3 (-3,07 %) Volkswagen is selling a majority stake in Everllance to Bain, reaping billions in the process. Everllance has so far been carried on the balance sheet at a value significantly below its market value, which is likely to result in an extraordinary profit of several billion.

https://www.zeit.de/wirtschaft/unternehmen/2026-06/volkswagen-everllence-bain-capital-grossmotoren-verkauf-gxe

Thursday:

$BAYN (+0,96 %) Bayer appears to have pulled off a major victory. The agricultural and pharmaceutical company won its case before the U.S. Supreme Court. The court ruled that regulations set by federal agencies take precedence over state laws. As a result, thousands of lawsuits alleging insufficient cancer warnings have lost their legal basis.

https://www.spiegel.de/wirtschaft/unternehmen/bayer-gewinnt-glyphosat-streit-in-den-usa-vor-supreme-court-a-42b636b2-e059-4560-95c9-5433ee192e62