Just another quick update from the depths of my portfolio. To be honest, not much has happened. Unfortunately, September really messed up my performance 🤪 But it’s all good.

My focus has shifted a bit toward my CHF investments $NOVN (-2,09%) and $SREN (-0,67%) these are new additions from Q3. Savings plans are still ongoing with $SLHN (-1,55%) and $ZURN (+0,07%) plus a few additional purchases of individual stocks $NESN (-1,06%)
$ACLN (+2,76%)
$VZN (+2,18%)

As for U.S. stocks, from now on I’ll only be making selective purchases, such as with $CARR (+4,65%)
$MCD (-1,66%)
$VZ (+0,57%) ; savings plans have been paused. My euro investments haven’t changed much either, except for reinvested dividends from the ETFs.

Speaking of dividends—and watch out for this milestone! My portfolio has surpassed the €100k gross dividend mark 🥳 In a maximum of 5 years, the €200k mark should be reached at €20k gross per month—and the trend is upward.

The plan for Q4 is therefore to continue making targeted purchases (on the defensive side) and build up cash reserves.

VZ Holding released its half-year results on August 14:

• Operating revenue: CHF 316.5 million (+13.9%)
• Net income: CHF 131.9 million (+17.7%)
• Net new money: CHF 3.3 billion in fresh capital in just 6 months
• Assets under management (AuM): CHF 67.7 billion (+19.8% y/y)

Anyone who understands the demographics of the over-50 generation in Switzerland knows this: The demand for retirement, tax, and succession planning advice is not cyclical—it’s a steady stream of money. Expansion in Germany and the UK is also going smoothly.

$PGHN (-0,45%) for the upper crust and $VZN (+2,18%) for the affluent middle class. This duo could still be a lot of fun in the portfolio. I’ll continue to buy more VZ Holding; it’s still a small position and I’ve only held it since the start of the year, but with Friday’s numbers, it’s already up 16%.

What a wild year so far, one record after another, so it's time for an update and a rough overview of the portfolio.

First of all, some rough facts:

- just under a year ago I was able to report a portfolio balance of 600k euros, now it's already just under 700k ... that's crazy

- I currently have total gains of over 300k (current performance, dividends, sales)

- my total historical gross dividend will crack the 100k mark this year

The portfolio balance is of course only a snapshot and I am therefore particularly pleased about the dividend development. At the end of this year it will be well over 20k. So far, so good ... what do the details say?

Changes in the portfolio:

Ok, what has happened in the portfolio since the beginning of the year?

I have sorted out some low performers, including $MMM (+0,94%)
$COK (+0,98%)
$LAND (-0,33%)

My $INTC (+9,78%) I also sold my position completely in 3 steps, after the last purchases around 20$ this is currently too much euphoria and above all a crazy valuation. $ROP (-0,5%) I have reduced my position a little, which is only possible after a holding period of 4 years, simply to spread it a little more widely. I will also do that from time to time.

The money freed up by the sales has not yet been completely reinvested, but the majority of it has. With $EIX (-0,42%) and $BKW (-2,03%) I have built up a separate energy share and that $DTE (+0,19%) is now also in the portfolio - I'm in. My $XDJP (+3,59%) ETF is doing splendidly and my $XD5E (+0,71%)
$VFEM (+2,2%) and $VAPX (+4,67%) ETFs are doing well and will be expanded further. Otherwise, a lot has flowed into existing candidates (e.g. $ABBV (+0,44%) or $PG) (-0,46%)many US stocks have been increased and $BRK.B (+0,13%) bought a little more. The CHF portfolio was increased by $ZURN (+0,07%) , $SLHN (-1,55%) , $VZN (+2,18%) and the $PGHN (-0,45%) and $BCHN (+1,33%) I have increased my purchases.

Oh and yes, the chip shop $NOVO B (+0,67%) still seems to be alive :-)

My savings plans are continuing as usual, regardless of the current mood. The aim remains to build up a decent passive income with dividends in the long term.

I would say it's going well 🤓

I have now also managed to update my good old tables and complete the year 2025. Small depot turbo at the end of the year and the first week 26 was already great again.

I would say that everything is still going in the right direction. What is striking is that dividends now make up a really big slice of the cake. My US dividends have overtaken the CHF dividends. In a total of 26 years on the stock market, around €100k gross has been added in dividends alone 🤓

I already stopped my savings plan at the end of 25 $SPY (+2,17%) and for the time being am only saving in selected US individual stocks and the $VHYL (+0,83%) . Currently running

$V (+0,81%)
$UPS (+1,93%)
$EIX (-0,42%)
$AXP (-0,07%)
$CMCSA (+0,76%)

in savings plans. Individual purchases depending on the situation, currently e.g.

$KHC (-0,23%)
$GIS (-1,9%)
$PG (-0,46%)
$MO (+0,97%)
$VZ (+0,57%)

New in the Swiss portfolio is $BCHN (+1,33%)
$VZN (+2,18%) and $SIKA (-0,38%) in it. $NESN (-1,06%) I will probably buy more in the short term.

The euro portfolio currently remains as it is, the euros are invested in ETFs.

$XD5E (+0,71%)
$VAPX (+4,67%)
$VFEM (+2,2%)

I will try to increase my cash holdings again. The target for 26 has also been set, to increase total assets to 820Tsd. That would be another +16%, which is exactly my average for the last 21 years.

So here's to another one, keep going!

Hello Community,

I have been looking for a Swiss stock to diversify my portfolio for some time now. Now I have come across $VZN (+2,18%) a share from the financial sector.

What is your opinion on this stock or do you have it in your portfolio?

I look forward to an exchange with you