📆 Review April 2026

📊 Performance & markets

The monthly performance was a strong +5 %.

The robo-advisor currently stands at an overall performance of +39,76 %.

• Hot factor favorite: Nvidia
• King Midas Factor: TUI
• 1 Swiss franc is quoted at 1,09 €

₿ Crypto & alternative investments

The crypto savings plans are running as usual again.

There were neither purchases nor sales in Timeless.

There is also currently no news in the area of NFTs and music rights.

🍷 Winery

No updates worth mentioning.

📈 Individual shares, ETFs & savings plans

• Purchases: Weichai Power $2338 (-0,25%) , Amplifon$AMP (+5,83%)
• 
  Sales: Mercedes-Benz$MBG (+0,91%) , Coloplast$COLO B (+2,05%)
• 
  Top of the month: Ceres Power$CWR (+1,98%)
• 
  Flop of the month: Tomra Systems$TOM (+1,5%)

🚀 Crowdcube & Startups

No news.

🧠 Nao

Savings plans remain stable.

🌴 Personal review

April was characterized by a lot of work and some overtime, but the salary is still a long time coming due to the unpaid month.

A small damper on everyday life: our coffee machine gave up the ghost after four years. For a €700 Siemens machine, I would have hoped for more. We now have a replacement from De'Longhi.

I also went to the tattooist and integrated a bit more sport back into my daily routine.

From a performance perspective, it was the strongest April since 2021.

🎧 Interest rates, podcasts & real estate

There was no news at Vivid.

The old podcast is in Season 3 Episode 1 is all about financial goals.

In the area of real estate, we are currently working on the special repayment 2026 is currently being saved.

🔮 Outlook for May

• Adjustment of the savings plans
• Appointment with the tax consultant
• Whisky and meat tasting

And you? How was your April?

If you want to find out more, feel free to follow me.

And if you don't like my investments: The blocking function works wonderfully.

February was a challenging and volatile month.

A strong start to the year was followed by a significant sector-rotationtriggered by risk-off-flowsa reassessment of growth stocks and the need to consistently address operational weaknesses in the portfolio.

Despite the volatility, it was a month of strategic realignment:

📊 Monthly performance: -3,15%

📊 Portfolio value: ~39.144 €

📊 Performance max: +27,58%

📊 Performance YTD: -1,32%

Performance & comparison 🚀

February was characterized by a clear sector rotation:

Software & high-beta tech corrected under pressure, while selected hardware stocks and broadly diversified value stocks showed relative stability.

Performance in comparison (01.02-28.02.2026):

My portfolio: -3,48%

NASDAQ 100: -4,05%

S&P 500: -1,29%

DAX: +1,03%

FTSE All-World: +0,97%

👉 The relative underperformance is due to the high growth exposure, although the portfolio just managed to outperform the NASDAQ 100, which was under heavy pressure.

Purchases, sales & allocation 💶

The focus in February was clearly on portfolio streamlining and strategic shift:

Acquisitions 💰

Hermes ($RMS (+2,23%)) targeted expansion in the quality segment. TSMC ($2330) tactical entry due to the observed shift on the stock market from software to hardware. Bitcoin ($BTC (+0,09%)) - purchase of € 500 from the Euro Overnight Rate Swap ETF ($XEON (+0,02%)) at € 54,216 to lower the average price to € 63,000.

Sales ❌

Complete separation of Tomra Systems ($TOM (+1,5%)) and Novo Nordisk ($NOVO B (+1,09%)), as the companies have been operationally disappointing in recent quarters and there were no clear signs of a turnaround from management.

👉 The cash ratio is currently being used dynamically for opportunities through targeted acquisitions.

Top movers in February 🟢

Despite the market environment, February was driven by quality stocks and successful rebounds.

The strongest performer was Keyence ($6861 (+2,54%)), which showed massive relative strength with +16.21%. Another strong performer was Ferrari ($RACE (+0,51%)) was also strong with +13.45%, followed by Berkshire Hathaway ($BRK.B (+0,53%)), which acted as a stable anchor with +6.22%.

The iShares MSCI World Small Cap ($WSML (+1,05%)) gained +3.61%, while the iShares MSCI ACWI ($ACWI) formed a solid base with +0.70%. The Xtrackers II EUR Overnight Rate ($XEON (+0,02%)) rounded off the picture with +0.15% and served as a source for the Bitcoin investment.

Flop movers in February 🔴

The weaker side of the portfolio was clearly to be found in the growth and crypto segment.

IREN ($IREN (-1,71%)) corrected by -24.10% after the strong previous month. Also Mercado Libre ($MELI (+1,82%)) also came under significant pressure at -17.33%. CrowdStrike ($CRWD (+4,5%)) -16.94% and Snowflake ($SNOW (+7,51%)) -16.36% suffered from the general shift in sentiment in the software sector.

Also Alibaba ($BABA (+5,3%)) also gave back the gains of the previous month with -16.02%. Nubank ($NU (+4,22%)) rounded off the list of losers with -15.90% due to the poor sentiment among payment providers.

👉 Important: These are primarily valuation and sentiment moves, not fundamental breaks - nevertheless, the lack of operational momentum made it necessary to sell positions.

Conclusion 💡

February was not an easy month, but a necessary for rebalancing:

➡️ Strategic separation of stocks without operational momentum

➡️ Focus shiftFrom software/high growth to hardware (TSMC) and focus on quality (Hermes)

➡️ Volatility deliberately used to lower the average Bitcoin price

The environment remains challenging:

Interest rates, Fed expectations and the rotation into hardware stocks will continue to shape the markets in March. The focus remains on quality, operational excellence and liquidity.

❓ Question for the community

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

👇 Write it in the comments!

After more than 1.5 years in the portfolio, today is the end: I have sold my position in Tomra Systems ($TOM (+1,5%))completely.

Why was this?

Because on the stock market you are not rewarded for "waiting for things to get better", but for holding the best assets.

The hard facts after today's Q4 figures (13.02.2026):

Recycling crisis without end:

While the deposit business (Collection) is stagnating (+2%), the recycling division is slumping massively (-27% turnover).

Management capitulation:

Management openly admitted today that the problems in the recycling market will be solved by 2027 will continue. This means: at least another 12-18 months of "dead capital".

Cash flow collapse:

The operating cash flow fell from € 83 million to just 24 million has collapsed. This is no longer a growth case, this is a restructuring story.

The switch to Hermès ($RMS (+2,23%)):

Instead of hoping for a political miracle with Tomra, I invested the capital directly in Hermès directly.

ROI machine:

While Tomra is cutting back, Hermès yesterday (12.02.) posted record figures with a 41% margin delivered.

Analyst tailwind:

Bernstein has just upgraded Hermès to "Outperform" (target price € 2,650).

Real pricing power:

Hermès simply raises prices by 5-6% in 2026 because demand permanently exceeds production.

My conclusion:

30% down on Tomra hurts in the short term, but the opportunity cost of being trapped in this "drama" for another year would be significantly higher.

$UCG (+0,38%)
$MNDY (+0,06%)
$KER (+1,72%)
$BARC (-0,39%)
$OSCR (+1,19%)
$CVS (+2,51%)
$SPOT (+0,43%)
$DDOG (+7,06%)
$BP. (+0,28%)
$SPGI (+2,34%)
$HAS (+0,97%)
$KO (+0,52%)
$JMIA (-3,11%)
$MAR (+1,44%)
$RACE (+0,51%)
$UPST (-0,05%)
$NET (+5,62%)
$LYFT (+0,35%)
$981
$NCH2 (+0,56%)
$DSY (+0,14%)
$1SXP (-4,89%)
$HEIA (+0,2%)
$ENR (+3,09%)
$DOU (+1,95%)
$OTLY (+2,16%)
$TMUS (-6,99%)
$SHOP (+3,6%)
$KHC (-0,81%)
$FSLY (+16,6%)
$HUBS (+0,5%)
$CSCO (+2,89%)
$APP (-0,86%)
$SIE (+2,7%)
$RMS (+2,23%)
$BATS (+0,06%)
$MBG (+0,91%)
$TKA (+6,04%)
$VBK (+7,47%)
$DB1 (+0,27%)
$NBIS (-0,03%)
$ALB (-0,01%)
$BIRK (+3,67%)
$ADYEN (+2,18%)
$ANET (+2,45%)
$PINS (+4,1%)
$AMAT (-0,12%)
$ABNB (+0,42%)
$TWLO (+4,27%)
$RIVN (-2,05%)
$COIN (+4,09%)
$TOM (+1,5%)
$OR (+2,17%)
$MRNA (+14,79%)
$CCO (+1,12%)
$DKNG (-1,13%)

The second article on the refund of withholding tax on Norwegian shares. You can find the first part with instructions and preparations for registering with the Norwegian authorities here: , Quellensteuerrückerstattung Norwegen Teil 1 . Once again, please note that this application is only possible for tax residents in Germany.

As a placeholder $EQNR (+0,44%) , $HAUTO (-0,09%) , $VAR (+0,06%) , $MOWI (+1,01%) , $MPCC (+1,33%) , $TEL (-0,3%) , $AKRBP (+0,59%) , $TOM (+1,5%)

Open the start page Altinn – Start - the language to English and if you have activated the automatic Google translator you can even go to German - log in, go to International, then log in without social security number/D-number, enter user name and password and log in. To find the right form, enter RF_1534 in the search, then the form Request for refund of withholding tax on dividends will open. You have a kind of "menu field" on the left-hand side which you can use to switch to the individual pages of the form.

Fill in the two pages for the applicant. Don't forget the tax ID ( Tax Identification Number ), but this is a mandatory field anyway. In the large field Registered address in country of residence, enter only the street and house number.

You will now need the dividend vouchers showing the withholding tax deduction.

Then open the Dividends form. There you will see three lines for your entries, which can be expanded as required.

In principle, you must enter Yes in the first field for the question of stock exchange listing in Oslo. This is the case if the ISIN of your share begins with NO... . In the second field, enter the VPS number of the depositary of your shares. This is clearstream, the currently valid number is 153300000145. In some forums you can still find the old number beginning with 05. In the third field you enter the year for which you are applying for the refund, up to 5 years retroactively are possible. Then enter the ISIN of your share as you can see it on the dividend voucher and the name of the company according to the voucher. In the sixth field, enter the dividend payment in Norwegian kroner according to the receipt. The number formatting requires the decimal point to be entered as a period! Then enter the percentage tax deduction, in this case 25%. You can choose different percentages for the refund claim. Take 10% here! Even if it is tempting to enter the full 25%, it works but will be displayed as an error when the form is checked at the latest. Repeat the whole process until you have entered every single dividend statement. So do not add up the dividends from one year, each payment must be entered individually.

This is actually the main task if you have several shares from Norway in your custody account. Once this is done, continue to the payment details page. Under Account Type, click on Other account and enter Euro as the currency, unless you have a corresponding foreign currency account with your bank. Then enter the IBAN and, to be on the safe side, the BIC and the name of the bank.

If there is anything else you would like to say about the application, you have the opportunity to make a note at the bottom of the page.

That's almost it. At the top left above the form name, go to the menu item List - Forms and attachments. You can now upload all dividend statements here. Once again the important note: You can a maximum of 10 PDFs of 50 MB each attached. One PDF is the certificate of residence. If you still have more than 9 individual receipts, combine them into one PDF by company and attach it.

Done, click on check and if everything is ok the document will be sent and you will receive a confirmation in your account.

Finally, a few comments:

Pay attention to the time limit in the form, so that it doesn't end and you have to type in all the entries again from the beginning.

There are a few brokers in Germany who will do this work for you for a fee. There you would have to apply for advance exemption from withholding tax. According to my research, and also confirmed in writing, DKB definitely does this. However, this is only a partial exemption, i.e. this 10%. The remaining 15% must be reclaimed via the tax return.

You can apply directly to the Norwegian tax authorities free of charge.

If you would like to take the route I have described, then quickly obtain your certificate from the tax office and submit the application at the beginning of the new year. Experience has shown that the decision and the refund are possible within a short time. Later in the year, waiting times of at least 6 to 9 months are common. Fortunately, there is even interest on the amount to be refunded if the authorities take longer to process the application. The transfer of the refund may be subject to a fee at some banks, ask your broker how much this is.

I hope this has made you a little less afraid of the refund and if you have any questions, please use the comments function. Greetings from your grandpa 😉😇

After a stable October (+6.2%), there was a clear countermovement in November.

My portfolio fell to 39.328€ and was thus -3,9% compared to the previous month.

The main drivers were the strong sell-offs in AI software, uranium, mining and defense - precisely those areas that are overweighted in my allocation.

Despite the setback, the year as a whole remains strong:

👉 Year-to-date I am still at +20.4% - solidly in the green.

1st performance & comparison 🚀

November was clearly characterized by risk-off mode. While broader indices remained stable, highly volatile future themes corrected much more strongly.

My portfolio:
-3,9%

NASDAQ 100:
-2,56%

S&P 500:
-0,49%

DAX:
-0,55%

FTSE All-World:
-0,48%

The underperformance is fully explainable:

Uranium, AI software, bitcoin mining and defense were under pressure - all segments that my portfolio partly tracks. But we remain calm and use attractive setbacks to buy.

Positive:

The long-term trend structure remains intact, YTD +20,4% clearly show: The overall path is right.

2. my savings plans & allocation 💶

The focus remains unchanged on strategic liquidity and consistent allocation.

Important in November:

👉 I bought Bitcoin for the first time.

This expands my structure specifically in the direction of digital assets - a building block that has shown relative strength despite market volatility. We entered at €74665 and are trying to use the 30% drop since the ATH to build up a small anti-cyclical position.

My savings plans are continuing as usual and remain the tactical tool for exploiting market opportunities in a disciplined and unemotional manner.

3rd top mover in November 🟢

The month was led by Nubank ($NU (+4,22%)), which was up +8,06 % benefited from strong user numbers and continued high demand for credit in Latin America. Berkshire Hathaway ($BRK.B (+0,53%)) gained +7,40 % driven by solid insurance profits and defensive positioning in the current market environment.

American Lithium (+4.44 %) showed a technical recovery, while the Bitcoin purchase ($BTC (+0,09%)) in my portfolio with +3,39 % had a direct positive effect. Also small caps (MSCI World Small Cap ($WSML (+1,05%)) +1.31 %) also performed stably. Tomra Systems ($TOM (+1,5%)) rounded off the list of winners with a slight gain of +0,28 % driven by an incipient recovery in demand in the recycling segment.

4th flop mover in November 🔴

The month was much weaker for my highly volatile AI and energy segments.

IREN ($IREN (-1,71%)) fell by -21,27 % the strongest - burdened by pressure in the mining sector and falling BTC margins. Also Cloudflare ($NET (+5,62%)) also fell -21,19 % triggered by risk-off in the entire software/infrastructure tech sector.

The VanEck Uranium ETF ($NUKL (-0,36%)) slipped -17,48% after falling spot prices and geopolitical uncertainties led to widespread profit-taking.

Tempus AI ($TEM (+2,71%)) (-13,24%) and Rheinmetall ($RHM (-0,48%)) (-12,99%) suffered from a general revaluation of growth and defense stocks. Mercado Libre ($MELI (+1,82%)) closed the month with -10,00 % also significantly weaker, weighed down by consumer data from Latin America.

5. conclusion 💡

November was a classic rotation month: risk-off in speculative future themes, stability in value, fintech and more defensive positions.

❓Question for the community

Which position surprised you the most in November - positive or negative?

👇 Write it in the comments!

After a volatile October with +6,2% the stabilization continued in October. My portfolio rose to 40.233 € and increased by +2,80 % slightly weaker than the NASDAQ 100 (+6.95 %)but still solidly in the green. While the major indices were driven by big tech, my portfolio once again showed strength in niche and future themes. ⚙️

1. performance & comparison 🚀

There was a moderate recovery over the course of the month: while the markets initially fluctuated, momentum returned towards the end.

With +2,8 % my portfolio remained below the NASDAQ 100, but performed better than broader indices such as the FTSE All World (+4.45 %) and DAX (+4.11 %) stable.

Particularly positive: the continued consolidation following the tech rallies of the previous months.

2. my savings plans & allocation 💶

My focus remains clear: managing liquidity and making targeted use of opportunities.

Since October, my new savings plan has been running on the Euro Overnight Rate Swap ETF (€ 500 per month) - as a flexible, interest-bearing "cash parking space" with daily liquidity and currently over 3.9 % return p.a. This allows me to keep capital ready to invest in quality shares in the event of setbacks.

3rd top mover in October 🟢

The month was led by IREN $IREN (-1,71%)
(+25,8 %)which once again benefited from the massive demand for computing power for AI. Also Snowflake $SNOW (+7,51%)
(+22,8 %) also made strong gains as investors increasingly focused on data-driven platforms again. The VanEck Uranium & Nuclear Energy ETF (+18.5 %) $NUKL (-0,36%) rose significantly, driven by the ongoing global reassessment of nuclear energy as a stable and low-carbon energy source. Geopolitical tensions and supply bottlenecks provided an additional boost. While American Lithium (+15.4 %) was supported by positive industry news. Also CrowdStrike $CRWD (+4,5%)
(+14 %) also impressed with strong demand in the cybersecurity segment and Datadog $DDOG (+7,06%)
(+12,2 %) benefited from robust cloud spending by large companies.

4th flop mover in October 🔴

On the losing side was Ferrari $RACE (+0,51%)
(-17,1 %)which was burdened by profit-taking and a more cautious outlook after a strong summer quarter. Tomra Systems $TOM (+1,5%)
(-15 %) corrected after weaker volume growth, while Rheinmetall $RHM (-0,48%)
(-14,1 %) suffered from geopolitical uncertainty despite a high order situation. Also Novo Nordisk $NOVO B (+1,09%)
(-6,8 %) also fell further as regulatory risks surrounding GLP-1 once again came into focus. BYD $1211 (+3,41%)
(-5,9 %) was volatile, weighed down by price pressure in China, while even Berkshire Hathaway $BRK.B (+0,53%)
(-2,7 %) closed slightly in the red.

5. conclusion 💡

October showed: Rotation instead of rally. Techs with real profitability are gaining momentum again, while overheated stocks are consolidating.

With the overnight ETF, I am deliberately building up a strategic "interest rate anchor" in order to remain flexible in the coming months.

My focus remains clear: Quality, liquidity and long-term scaling.

❓ Question for the community:

Which stock surprised you the most in October - positive or negative?

👇 Write it in the comments!

$ERIC A (-0,35%)
$DPZ (+1,1%)
$JNJ (+2,56%)
$JPM (+0,47%)
$WFC (+2,05%)
$BLK (+0,71%)
$GS (+1,65%)
$C (+1,45%)
$MC (-0,14%)
$ASML (+0,68%)
$BAC (+1,87%)
$MS (+1,64%)
$JBHT (+0,47%)
$EQT (+0,08%)
$SRT (+4,43%)
$NESNE
$TSM (-0,98%)
$ABBN (+1,32%)
$UAL (+0%)
$TOM (+1,5%)
$VOLV B (+1,66%)
$AXP (-1,49%)
$SLBG34
$STT (+0,02%)

Hello community,

I would like to present my revised portfolio strategy to you today and am looking forward to your opinions and constructive feedback. I am pursuing a core-satellite approach.

The core (approx. 40%):

My foundation for long-term and stable asset accumulation. Here I rely on the MSCI World and the Nasdaq 100 in order to participate in global economic growth in a broadly diversified manner. Simple, cost-effective and proven.

The satellites (approx. 60%):

Here I pursue clear, thesis-based investments in individual stocks. These can be divided into six thematic clusters:

1. the AI infrastructure (cloud, data & security):

My biggest bet. I believe that the real winners of the AI revolution are the companies that provide the foundation.

Positions:

Cloudflare, CrowdStrike, Snowflake, Datadog.

2. the fintech revolution in emerging markets:

The disruption of traditional banking in populous and digitally savvy regions.

Positions:

MercadoLibre, Nu Holdings.

3. global champions & turnarounds:

Here I bundle global market leaders that I consider undervalued or that are on the verge of a comeback.

Positions:

Alibaba, BYD. For me, these are not speculative gambles, but counter-cyclical bets on dominance in their respective markets.

4. industrial excellence & luxury brands:

A bet on undisputed market leaders in highly profitable niches with strong moats - from armor to high-tech automation to luxury sports cars and one of the best investors of all time.

Positions: Rheinmetall, Ferrari, Berkshire Hathaway, Keyence.

5. future technologies & energy:

The thesis here is clear: more AI and more data centers require massively more energy.

Positions:

The Uranium ETF, Iris Energy, American Lithium.

6. megatrends: health & sustainability:

Investments in global market leaders that benefit from two unstoppable social developments: demographic change and the need for a circular economy.

PositionsNovo Nordisk, Tomra Systems.

My question to the Getquin community:

What is your opinion on this strategy and allocation?

#DepotCheck #PortfolioReview #Feedback #CoreSatellite #Strategy

$NET (+5,62%)
$CRWD (+4,5%)
$NOVO B (+1,09%)
$1211 (+3,41%)
$BABA (+5,3%)
$IREN (-1,71%)
$NLR (+1,27%)
$ACWI
$WSML (+1,05%)
$RACE (+0,51%)
$BRK.B (+0,53%)
$RHM (-0,48%)
$6861 (+2,54%)
$DDOG (+7,06%)
$MELI (+1,82%)
$SNOW (+7,51%)
$NU (+4,22%)
$TOM (+1,5%)

to $TOM (+1,5%) which at least I was not previously aware of.

https://www.deraktionaer.de/artikel/medien-ittk-technologie/australien-im-lithium-rausch-wie-tomra-den-unterschied-macht-20384926.html