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Longterm invest

Investment thesis - potential and risks:

The Cloudflare share ($NET (+0,22%) ) is considered one of the most exciting but also most challenging growth investments in the technology sector due to its unique technological architecture. The core thesis is based on the company's successful transformation from a content delivery network (CDN) to a leading provider of a globally integrated connectivity cloud that combines network security (SASE), performance and edge computing. Cloudflare is strategically positioned to capitalize on the consolidation of fragmented enterprise IT infrastructures and the emergence of the AI-driven Internet.

Although the company has a strong competitive advantage and has achieved operational profitability, the stock is extremely highly valued (P/E > 250). The multiplier potential (multi-bagger potential) is there, but is absolutely dependent on the successful conquest of the enterprise market and the significant expansion of operating margins in the coming years.

I. Business model and strategic positioning

Cloudflare's business model has changed fundamentally. While traditional strengths such as layer 7 DDoS protection, web application firewalls (WAF) and bot management continue to be important sources of revenue, the strategic focus is now on two expansive pillars: Zero Trust/SASE and Edge Computing.

Zero Trust & Network Security (Cloudflare One): Cloudflare addresses the growing complexity and increasing attack surface created by hybrid work models and digital transformation. Cloudflare One, the Secure Access Service Edge (SASE) platform, aims to replace legacy investments in networks and security infrastructures. This includes products such as Cloudflare Magic WAN for WAN modernization, Cloudflare Access for Zero Trust Network Access (ZTNA) implementation, and Cloudflare Gateway for cyber threat prevention. The goal is to simplify the corporate network and establish a "unified risk posture" to reduce complexity and tool fatigue in security teams. This consolidation strategy is a direct attack on the fragmented legacy markets and generates exponentially higher customer retention. Cloudflare has been recognized as a Visionary in the Gartner Magic Quadrant 2025 for its comprehensive transformation in the SASE space.

Developer Platform (Cloudflare Workers)

The Cloudflare Workers edge compute platform enables the development of applications that run across the 330 global locations of the Cloudflare network, ensuring ultra-low latency. New offerings such as Workers VPC and Workers VPC Private Link enable organizations to develop applications on Workers and securely connect them to their core business data in external cloud VPCs. Cloudflare is positioning itself as a decentralized alternative to traditional hyperscalers and a critical infrastructure for the demands of the future Internet, especially with regard to AI workloads that require processing proximity to the end user. The strict limitation and optimization of the worker platform (e.g. to 10 MB after compression for paid plans) is aimed at maximum efficiency in execution.

II Management and affiliation

Since its inception, the company has been led by co-founders Matthew Prince (CEO) and Michelle Zatlyn (President & COO). Michelle Zatlyn, who holds an MBA from Harvard, brings the necessary business and operational strength. The leadership is recognized for its aggressive innovation strategy, which has resulted in dozens of products and hundreds of features in a short period of time. CEO Matthew Prince emphasizes that this unstoppable pace of innovation is key to the company's customer expansion and success. This founder continuity combined with a visionary, product-focused strategy is seen as a strong asset.

III The moat

Cloudflare's competitive advantage is deeply rooted in its network architecture and economic growth model.

Cloudflare operates a global network with a presence in 330 cities in over 125 countries. This unprecedented density of Points of Presence (PoPs) is the primary competitive advantage that is difficult to replicate.

This physical infrastructure creates a massive barrier to entry, as building and maintaining such a decentralized network requires immense capital and time. While competitors like AWS or Google often rely on large, centralized regions, Cloudflare's dense edge network allows for extremely low latency, which is essential for modern SASE implementations (network security) and edge compute applications (workers). Cloudflare thus controls the entire stack - from physical connectivity to the application layer - which optimizes performance and generates a lock-in effect based on superior technical efficiency and simplicity, rather than pure contract lock-in.

The economic moat is evidenced by the high Dollar-Based Net Retention Rate (DBNR). In the first quarter of 2022, this key figure reached a record 127%. A value above 120% is considered excellent and implies that existing customers would increase their spending by more than a quarter annually, even if no new customers were acquired.

This expansion is driven by the growing adoption of the platform by large customers: the number of customers with annual spend of over $1 million grew by 72% year-on-year in the first quarter of 2022. The ability to progressively move customers from a free entry-level service to more complex, lucrative enterprise services (SASE, Workers) is at the core of the growth model. Management's emphasis on the fact that customers increasingly tend to consolidate multiple network services with a single provider reinforces this lock-in effect and ensures long-term scaling.

IV. Financial analysis and growth

Cloudflare continues to show robust growth, but has stabilized from pandemic-driven highs.

In the second quarter of 2025, Cloudflare generated total revenue of $512.3 million, an increase of 28% year-over-year. The company has thus exceeded the annualized revenue threshold of $2 billion.

A key indicator of future acceleration is pipeline growth: Current RPO (Remaining Performance Obligations) growth was 33% year-over-year in the second quarter of 2025. With RPO growth outpacing revenue growth, this indicates a healthy and growing pipeline of larger, longer-term contracts in the Enterprise segment.

At 76.3% (Q2 2025), the non-GAAP gross margin is at a very high level for an infrastructure company, although it has fallen slightly compared to the previous year (79.0%). This slight decline in gross margin is likely the result of targeted strategic investments in physical infrastructure to scale the Workers platform or to leverage aggressive pricing to win large enterprise deals in the SASE market.

Despite the slight decline in gross margin, Cloudflare maintained stable operating profitability. Non-GAAP operating margin was 14.1% in the second quarter of 2025. The ability to maintain a stable operating margin with growing revenue and strategic infrastructure investments demonstrates strong operating leverage. The cost of acquiring and servicing existing customers is becoming more favorable relative to revenue, which is fundamental to the multi-bagger potential. Non-GAAP operating income of $284.0 million to $286.0 million is forecast for the full year 2025.

V. Valuation and Investment Conclusion

Cloudflare is valued as a premium class company, reflecting the extremely high market expectations for future growth. The forecast for 2025 shows a P/E ratio (price/earnings ratio) of 254. Such a multiple signals that the market expects Cloudflare to maintain annual growth rates in the high 20s or low 30s over a period of at least five to seven years, accompanied by a massive increase in operating profitability.

The multiplier potential lies mainly in margin expansion. Given the stable gross margin of 76%, much of the future sales growth can be converted into higher operating margins, which could push the current 14% margin well above 20% in the medium term. The successful conquest of the SASE market, evidenced by the strong RPO growth of 33% , is the key catalyst to deliver the necessary sales acceleration to justify the high valuation.

Conclusion

Cloudflare has a superior and sustainable competitive advantage supported by its unique global network architecture and strong lock-in effects. The transformation to a comprehensive SASE and edge compute provider opens up huge growth markets.

Cloudflare offers multiplier potential as it has the potential to massively expand margins through economies of scale and gain market share from hyperscalers and legacy providers. However, the risk is proportional to the valuation. The share is only suitable for private investors who are prepared to take a high risk, tolerate extremely volatile price movements and have a long investment horizon (five to seven years). The thesis stands and falls with the management's ability to manage the company's The multiplier potential lies mainly in the margin expansion. Given the stable gross margin of 76%, much of the future sales growth can be converted into higher operating margins, which could push the current 14% margin well above 20% in the medium term. The successful conquest of the SASE market, evidenced by the strong RPO growth of 33% , is the key catalyst to deliver the necessary sales acceleration to justify the high valuation

#cloudflare
$NET (+0,22%)

Cloudflare (NYSE: NET) has become one of the key players when it comes to web infrastructure and cyber security. The company protects websites, applications and APIs from attacks, makes everything run faster and provides developers with tools to build new digital solutions. With over 300 data centers worldwide and billions of requests processed daily, Cloudflare is no longer just a small tech provider - it's an essential part of the internet for businesses of all sizes.

Why the numbers add upCloudflare generated $479 million in revenue in the first quarter of 2025 - 27% more than the previous year. For the year as a whole, revenue of around 2.09 billion US dollars is expected, also an increase of 27%. Particularly exciting: Cloudflare has signed the largest contract in its history to date - for more than 100 million US dollars, mainly via the developer platform "Workers". This shows that Cloudflare is not only growing, but that customers are staying on board for the long term - and that gives the company stability. Recurring revenue from subscriptions makes the business model more predictable, even when short-term price fluctuations occur.

Technical situation: The share has gained considerable momentum on the chart. The price/sales ratio is around 10, which is moderate for a growth stock like Cloudflare. Analysts see the share at around USD 232 in the medium term, with some even predicting up to USD 268. Technical indicators show that institutional investors are still interested in the share. Setbacks offer entry opportunities for long-term investors who are prepared to ride out volatility. Moving averages and momentum indicators also signal medium-term stability, which reduces the risk of short-term sell-offs.

Innovation and future prospectsCloudflare is not a traditional security company. The company is investing heavily in AI solutions, automated e-commerce tools and is planning a USD-pegged stablecoin called "NET Dollar" to enable machine-based payments. Such initiatives show that Cloudflare is tapping into new revenue streams and can grow far beyond traditional web infrastructure in the long term. At the same time, the company is positioning itself as a central platform in the field of digital payments, cloud services and developer solutions - a growth area that is likely to become significantly more important in the coming years.

Quality and competitive advantagesCloudflare scores points not only for growth, but also for the quality of its business model. The infrastructure is robust, the customer networks are strong and the market position is clearly leading. The company benefits from network effects: The more customers use Cloudflare, the more valuable the platform becomes for new customers. In an environment where cybersecurity, performance optimization and cloud services are becoming increasingly important, Cloudflare is ahead of the game. Of course, there are risks: competition from other cloud and security providers, regulatory hurdles in various countries or economic fluctuations can weigh on the share price in the short term.

Long-term potentialIf you take a longer-term view of Cloudflare, you will recognize the mix of strong sales growth, innovation and market leadership. The share has everything that makes a potential tenbagger: new business areas, strong customer loyalty, technological pioneering role and solid analyst ratings. Of course, it remains a growth company with certain fluctuations, but for long-term investors Cloudflare could offer the opportunity to multiply their position over the years.

Personal perspectiveI myself have opened a position in Zollschock in my portfolio, which is now up around 60%. Of course, Cloudflare is already expensively valued and volatile, but I believe that the share can really go through the roof in the long term as soon as profitability increases further and new business areas such as AI and digital payments deliver revenue contributions. For me, Cloudflare is a top pick for long-term investors who are prepared to withstand market fluctuations and believe in the company's growth.

ConclusionCloudflare combines strong revenue growth, innovative strength and a leading market position. The share offers both opportunities for significant price gains and the certainty that the business model can be further scaled in the coming years. Anyone with patience and who takes into account the trend towards digitalization, cloud security and automated services could actually be onto a real tenbagger here.

ℹ️ Information without guarantee | Source: ChatGPT

No investment advice - only information and own opinion. Please check for yourself before making any decisions.

Hello everyone,

I just wanted to share my portfolio and my thoughts on it. I would be interested to know what you think?

$NET (+0,22%) AI enabler, Technology Leader, Edge Computing Energy Efficient

$ASML (-0,02%) AI megatrend, currently quasi-monopolist, strong momentum

$BNTX (+0,44%) MRNA technology use in oncology, interesting pipeline

$RACE AI creates more super-rich, luxury benefits

$ABNB Travel market continues to shift towards online, younger age groups use more AirBNB, trend towards longer stays abroad

Which stock would you buy when it comes to cybersecurity?

I would have $NET (+0,22%) , $CRWD (+0,86%) , $PLTR (+2,29%)

what is the best stock for you in this area

Hello dear Getquin Community,

This year's IAA Mobility in Munich showed that the automotive industry is on the verge of a turning point. With over 30 percent more exhibitors than in 2023 and numerous premieres from Audi, $BMW (+0,67%) BMW, $MBG (+0,47%) Mercedes, $VOW3 (+0,96%) VW, Opel and Chinese challengers such as BYD and $1211 (-0,58%) BYD and $9868 (+0,65%) XPeng, it became clear that electromobility has now become the standard. However, behind these new platforms and concepts lies an even bigger topic, namely autonomous driving and the robotaxis of the future.

In order to present this field in a clear and transparent way for investors, I have broken down the entire value chain into individual sectors. These include automotive and suppliers, semiconductors and technology, communication and infrastructure, software and algorithms, logistics and transportation, insurance and finance, energy and infrastructure, battery and propulsion, maps and mapping, and safety and cybersecurity. Within each sector, I have analyzed the big players, the hidden champions and the blade manufacturers and highlighted my favorites in each case with a brief explanation. @Multibagger 😎

My aim was to develop as comprehensive a picture as possible that shows where the opportunities lie in this new industry and how investors can position themselves at an early stage. Perhaps the IAA 2025 was not just a car show, but actually the starting signal for the next big investment ecosystem around robotaxis and autonomous driving. If I have overlooked any important aspects or if a categorization was not quite precise, I look forward to your comments @BamBamInvest
@Epi
😎 and exciting additions @All-in-or-nothing 😎 Together we can understand this topic even better and learn from each other. @Tenbagger2024 😎

Feel free to leave a 👍. I wish you every success with your investments 🚀

🚘 Automotive & suppliers

Big player:

$TSLA (-3,07%) Tesla - pioneer in autopilot/FSD, vertical integration, huge database

$MBG (+0,47%) Mercedes-Benz Group - EQS/EQE with Level 3 approval in Germany, strong regulatory expertise

$BMW (+0,67%) BMW - New class platform, e-models with prepared sensor technology & level 3 approaches

$VOW (+1,98%) VW Volkswagen - Cariad software unit, massive push towards ADAS/AV

$7203 (+0,82%) Toyota (Japan) - largest OEM, cooperation with Pony.ai and Denso

$GOOGL (+1,8%) Alphabet Waymo (private/Alphabet $GOOGL) - robotaxi pioneer in the USA

$9888 (+1,67%) Baidu Apollo (9888.HK) - Robotaxi & Full-Stack AV in China

$Pony.ai (private, China) - Robotaxi & partnerships with Toyota

👉 Favorite: Alphabet Waymo ($GOOGL (+1,8%))

Moat through years of data collection in real operation, deep AI integration, financially secured by Alphabet. Compounder potential, as Waymo can scale as a platform.

Hidden champions:

$APTV (+0,68%) Aptiv - supplier for ADAS, sensor fusion, E/E architectures

$MG (+0,23%) Magna International - produces complete vehicle systems including autonomous components

$ZF Friedrichshafen (private) - German giant in steering and braking systems for AVs

Veoneer (private, formerly listed) - safety software, vision, sensor technology

$SHA0 (+1,12%) Schaeffler AG (DE, Germany, Xetra) - global supplier of drive, chassis and intelligent steering systems. Important for e-mobility and redundancy solutions in autonomous driving.

👉 Favorite: Aptiv ($APTV (+0,68%)
)

High barriers to entry through system integration, broad customer base (OEM-agnostic), strong cash flow and close partner of major car manufacturers.

Blade manufacturer:

$NVDA (+2,31%) Nvidia - Drive Orin / Thor chips for OEMs, standard in the AV sector

$QCOM (-0,49%) Qualcomm - Snapdragon Ride platform for AVs

$INTC (-7,3%) Intel Mobileye - EyeQ chips, one of the market leaders in ADAS

$LAZR (+30,8%) Luminar Technologies - Lidar, partnerships with Volvo, Mercedes, SAIC

$OUST Ouster, Inc. - Lidar solutions

$INVZ Innoviz (INVZ) - Lidar sensor technology, cooperation with VW & BMW

👉 Favorite: Nvidia ($NVDA (+2,31%)
)

Dominance in high-performance AI chips, ecosystem with software (CUDA, DriveSim), network effects through partnerships with almost all OEMs. Classic compounder, enormous moat due to technology and developer lock-in.

Takeaway:

In the automotive & supplier sector, it's not just who sells the most cars, but who has mastered the best technology stack for autonomy. OEMs work closely with specialized suppliers and blade manufacturers. Investors should focus less on unit numbers and more on data basis, software expertise and partnerships. The real levers often lie with suppliers and technology enablers, not just the traditional car brands.

💻 Semiconductors & technology

Big players:

$NVDA (+2,31%) Nvidia - GPUs & AV chips (Drive Orin, Drive Thor), software ecosystem

$QCOM (-0,49%) Qualcomm - Snapdragon Ride platform, automotive pipeline >30 billion USD

$INTC (-7,3%) Intel / Mobileye - EyeQ chips, ADAS market leader

$AMD (+6,32%) AMD - GPU/CPU, entry into automotive AI compute

👉 Favorite: Nvidia ($NVDA (+2,31%)
) Unique position: Technological moat through CUDA ecosystem, enabler of almost all AV developments, quasi-monopoly in high-end compute. Classic compounder with long-term growth leverage.

Hidden champions:

$LAZR (+30,8%) Luminar Technologies - Lidar supplier, partnerships (Volvo, Mercedes, SAIC)

$INVZ Innoviz Tech. - Lidar, BMW & VW as customers

$KOTMY Koito Manufacturing - world market leader in automotive lighting, entry into lidar through Cepton integration, important role as supplier for OEMs

$AMBA (+2,55%) Ambarella (AMBA) - camera chips & vision processors for AV

$STMPA (-2,82%) STMicroelectronics (France/Italy, Euronext) - automotive microcontrollers, sensors, power electronics. European counterpart to Infineon.

$AIXA (+1,18%) Aixtron (Germany, Xetra) - supplies manufacturing equipment for SiC and GaN semiconductors, indispensable for power electronics in EV/AV.

$ELG (+2,7%) Elmos Semiconductor (Germany, Xetra) - niche player for mixed-signal semiconductors in automotive, e.g. for radar and driver assistance.

👉 Favorite: Luminar ($LAZR (+30,8%)
) Clear technical USP, strategic OEM deals in series production, high barriers to entry in lidar technology. Scalable compounder in a niche market.

Blade manufacturer:

$TSM (+1,4%) Taiwan Semiconductor - production of all relevant automotive chips

$ASML (-0,02%) ASML Holding - Lithography monopolist, without ASML no AI/AV chips

$EQIX (+0,56%) Equinix - data center colocation for AI training & simulations

$DLR (+2,14%) Digital Realty - cloud and data infrastructure

$AMZN (+1,56%) Amazon AWS - Cloud resources for AI training, simulation & OTA updates

👉 Favorite: ASML ($ASML (-0,02%)
) Monopoly on EUV lithography, no advanced chips for autonomous driving without ASML. Moat through technology and patents, classic compounder.

Takeaway:

Semiconductors & technology are the foundation of autonomous driving. While Nvidia plays the central role with computing power, lidar specialists such as Luminar ensure perception. The real shovelware winner, however, is ASML, without whose machines there would be no AV chips. Investors will find the deepest technological moats in the entire value chain here.

📡 Communication & infrastructure

Big players:

$ERIC B (-0,5%) Ericsson - 5G/6G networks, vehicle-to-everything (V2X) applications, global player

$NOK (+1,89%) Nokia - 5G/Edge solutions for automotive & smart cities

$QCOM (-0,49%) Qualcomm - Snapdragon Digital Chassis, V2X chipsets, automotive pipeline

Huawei (private, China) - strong player in 5G/AV communication, partnerships in Asia

👉 Favorite: Qualcomm ($QCOM (-0,49%)
) Wide moat through IP in mobile communications, at the same time deep automotive integration via Snapdragon Ride & Digital Chassis. Compounder, as economies of scale in chips + licenses worldwide.

Hidden champions:

$Cohda Wireless (private, Australia) - pioneer for V2X communication, software solutions for OEMs

$Autotalks (private, Israel, acquisition by Qualcomm planned) - leader in dedicated V2X chips

Commsignia (private, Hungary) - V2X middleware & roadside units

👉 Favorite: Autotalks (private, Israel)

Technology leader in dedicated V2X chips, unique IP portfolio. Strong takeover candidate (Qualcomm already active), giving moat + exit potential.

Shovel manufacturer:

$CSCO (+0,2%) Cisco Systems - network infrastructure for automotive, cloud & edge

$AMT (+0,49%) American Tower - cell towers & infrastructure, benefits from 5G expansion

$CCI (-0,12%) Crown Castle - radio tower and fiber optic infrastructure (mainly USA)

$EQIX (+0,56%) Equinix - data centers, basis for edge computing and OTA updates

$DLR (+2,14%) Digital Realty - colocation & data center capacity for simulations and AV data

👉 Favorite: Equinix ($EQIX (+0,56%)
)

Global leader in data center colocation, benefits from the edge computing trend. Strong moat due to network effects & high switching costs. Long-term compounder.

Takeaway:

Communication & infrastructure are the silent cornerstones of autonomous driving. Without low-latency networks, edge data centers and V2X communication, no AV can drive safely. While Qualcomm forms the technological bridge between chip and infrastructure, hidden champions such as Autotalks secure niche leadership. On the blade side, Equinix remains unbeatable, as every OEM & service provider needs computing power at the edge.

🤖 Software, platforms & algorithms

Big Player:

$GOOGL (+1,8%) Alphabet / Waymo - Robotaxi pioneer, full-stack AV software, years of database

$TSLA (-3,07%) Tesla - FSD, Dojo supercomputer, vertical integration incl. fleet

$9888 (+1,67%) Baidu Apollo (HK) - largest robotaxi network in China, full-stack solution

$UBER (-0,67%) Uber - AV platform in partnership (e.g. with Momenta), scaling via existing user base

👉 Favorite: Alphabet / Waymo ($GOOGL (+1,8%)
)

Unbeatable moat due to millions of real driving kilometers + simulations, strong financial base via Alphabet, focus on platform scaling (robotaxi, licensing model). Compounder with global expansion potential.

Hidden champions:

$Momenta (private, China) - L4 software for OEMs, partner of Mercedes, Toyota

$AUR Aurora Innovation - software + sensor technology for truck autonomy, partner PACCAR, Volvo

$Argo AI (private, USA) - formerly Ford/VW, now partly continued through partner projects

$Oxbotica (private, UK) - modular AV software, focus on industrial & logistics applications

👉 Favorite: Aurora Innovation ($AUR
)

Clear focus on trucking (biggest lever in the AV market), long-term OEM partnerships, strong moat due to specialization in long-haul autonomy. Still young, but strong compounder potential.

Shovel manufacturer:

$PLTR (+2,29%) Palantir - data management, simulation & AI analysis for AV training

$SNOW (+2,02%) Snowflake - Cloud data platform, relevant for AV data streams

$MSFT (+0,63%) Microsoft Azure - cloud & simulation platform for OEMs

$AMZN (+1,56%) AWS - largest provider for AI training & simulations in the AV sector

$ADBE (-0,07%) Adobe - Simulation & Digital Twin Tools (via partnerships)

👉 Favorite: Palantir ($PLTR (+2,29%)
)

Deep integration in data pipelines, modular platform for simulation & decision logic. Moat due to lock-in effects with major customers, strong compounder with AI scaling.

Takeaway:

Software and algorithms are the real key to autonomous driving. Vehicles are becoming "data centers on wheels" and only the companies with data, simulation and AI stacks can dominate the market in the long term. Waymo provides the scalable robotaxi ecosystem, Aurora scores with its trucking focus, and Palantir ensures that data streams remain manageable. This is where the biggest margins are generated, not in the sale of hardware.

🚚 Logistics & transportation

Big player:

$AUR Aurora Innovation - focus on autonomous trucks, partnerships with Volvo & PACCAR

$TuSimple (private, USA) - pioneer for autonomous trucks, strong in the USA and China, currently undergoing restructuring

$AMZN (+1,56%) Amazon / Zoox - Robotaxi & autonomous delivery services, integration into e-commerce and Prime

$FDX (+0,92%) FedEx - test programs for autonomous delivery (cooperations with Aurora, Nuro, among others)

$DHL (-0,13%) Deutsche Post DHL - pilot projects with autonomous delivery vehicles & drones

👉 Favorite: Amazon / Zoox ($AMZN (+1,56%)
)

Moat through e-commerce ecosystem, integration of AV in the last mile, strong financial power and scalability. Compounder due to synergies between logistics and technology.

Hidden champions:

$Nuro (private, USA) - autonomous delivery vehicles specifically for the last mile

$Einride (private, Sweden) - electric autonomous trucks, focus on freight & sustainability

$Gatik (private, Canada/USA) - AV for medium distances (B2B supply chains, e.g. Walmart)

$Starship Technologies (private, Estonia/USA) - autonomous delivery robots for urban logistics

👉 Favorite: Gatik (private, Canada/USA)

Clear business model: "middle-mile" logistics, profitable niche market with predictable routes. Moat through early commercial contracts (Walmart). Compounder potential through scaling in the B2B sector.

Shovel manufacturer:

$CAT (+0,5%) Caterpillar - autonomous technologies for construction machinery & mining, know-how transferable

$DE (+0,55%) Deere & Co - autonomous agricultural machinery, similar technology stacks as for trucks

$ISRG (-1,06%) Intuitive Surgical - example of high-end automation (here as a cross-reference for AV tech transfer)

$UPS (+0,01%) United Parcel Service - logistics infrastructure, partner for AV integration

$R (+0,36%) Ryder System - fleet management, leasing and AV test integration

👉 Favorite: Deere & Co ($DE (+0,55%)
)

Autonomy already in use (precision farming), moat through data & technology in the agricultural sector. Compounder quality, as know-how in navigation & autonomy is transferable to transportation/logistics.

Takeaway:

Logistics is one of the first markets where autonomous driving brings real profitability. Trucks and delivery services benefit from 24/7 operation without drivers, while the last mile (Nuro, Gatik) opens up new business models. Amazon is the most powerful player through vertical integration, while hidden champions like Gatik occupy targeted profitable niche markets. Shovel manufacturers such as Deere supply the already proven autonomy stacks.

🏦 Insurance & finance

Major players:

$ALV (+0,33%) Allianz - the world's largest insurer, involved in AV pilot projects at an early stage

$MUV2 (+0,31%) Munich Re - reinsurance, develops models for AV risk transfer

$CS (+0,17%) Axa - active in AV insurance testing & research

$BRK.B (+0,27%) Berkshire Hathaway - large presence in the US motor insurance market via Geico

👉 Favorite: Munich Re ($MUV2 (+0,31%)
)

Moat through global reinsurance strength, pioneer in new risk models for AVs. Compounder characteristics through diversification and ability to insure new markets (cyber, AV, climate) at an early stage.

Hidden champions:

$LMND (+1,4%) Lemonade - digital insurance, AI-driven, quickly adaptable for AV policies

$Root Insurance (private/USA, formerly listed) - data-driven car insurance, use of driving data

$Next Insurance (private, USA) - platform approach, simple onboarding for new risks

$Wefox (private, Germany) - digital platform for insurance brokerage, flexible for new products

👉 Favorite: Lemonade ($LMND (+1,4%)
)

Pure digital insurer with AI-driven underwriting. Moat through data and automation approach. Still small, but compounder potential as scalable platform can be used in new markets such as AV policies.

Shovel manufacturer:

$SREN (+0,86%) Swiss Re - global reinsurer, benefits from increasing AV risk volume

$VRSK Verisk Analytics - data & risk analytics for insurers, AV risk models

$GWRE (-0,85%) Guidewire Software - software solutions for insurance companies, customization for AV policies

$FICO (+3,16%) Fair Isaac - Analytics & risk modeling, increasingly relevant for complex AV data

👉 Favorite: Verisk Analytics ($VRSK
)

Moat through exclusive data pools & analytics. Enabler for almost all insurers. Compounder character, as growing demand for data & models in new markets such as AVs.

Takeaway:

Autonomous driving shifts liability from the driver to the manufacturer or software provider. Insurers need to develop new products, reinsurers and data providers are becoming more important. Munich Re is protecting the industry, Lemonade is testing digital models and Verisk is providing the data intelligence without which no AV insurance can function. Investors will find silent but indispensable winners of the upheaval here.

🛡️ Security & Cybersecurity

Big players:

$PANW (+1,3%) Palo Alto Networks - market leader in network security, focus on cloud & IoT, relevant for connected vehicles

$CRWD (+0,86%) CrowdStrike ($CRWD) - endpoint security, strong platform for AV endpoints and fleets

$CHKP (-0,87%) Check Point ($CHKP) - Security appliances & firewalls, focus on embedded & IoT

$CSCO (+0,2%) Cisco Systems ($CSCO) - Network security + automotive infrastructure

👉 Favorite: Palo Alto Networks ($PANW (+1,3%)
)

moat due to the width of the platform, which extends from the data center to the vehicle. With the $CYBR (+0,7%) -integration, PANW has also covered the topic of identity security. Compounder properties through continuous expansion, high customer loyalty and a strong M&A strategy.

Hidden champions:

$CON (+1,23%) Argus Cyber Security (private, subsidiary of Continental) - specialized in automotive cybersecurity

$Upstream Security (private, Israel) - cloud-based cyber platform specifically for connected vehicles

Karamba Security (private, Israel) - embedded security for control units (ECUs)

$4704 (+0,07%) VicOne (subsidiary of Trend Micro) - AV-specific threat analysis

👉 Favorite: Argus Cyber Security (private, part of $CON (+1,23%)
Continental)

Pioneer in the automotive segment, deep integration in OEMs. Moat through early partnerships and specialization in vehicle architectures.

Shovel manufacturer:

$AKAM (-0,14%) Akamai - Content Delivery & Edge Security, relevant for OTA updates

$FTNT (+0,84%) Fortinet - Network & IoT security, broad base

$ZS (+1,56%) Zscaler - cloud-native security for data traffic between AV & cloud

$NET (+0,22%) Cloudflare - infrastructure protection, DDoS protection for fleets & updates

$BB (+3,78%) BlackBerry QNX - Operating system & security framework for automotive

👉 Favorite: BlackBerry ($BB (+3,78%)
)

Moat by QNX, which is already running in millions of vehicles. Strong lock-in with OEMs. Compounder potential if QNX continues to scale as a security operating system for AV architectures.

Takeaway:

Cybersecurity is the nervous system of autonomous driving. Without secure communication, OTA updates and fleet protection, AV is inconceivable. Palo Alto Networks provides the necessary breadth and depth, Argus secures the vehicles themselves, and BlackBerry QNX provides the foundation in the control units. Investors are relying on the invisible gatekeepers of tomorrow's mobility.

⚡ Energy & infrastructure

Big player:

$EBK (+0,3%) EnBW - operator of charging infrastructure in Germany, expansion of fast-charging parks

$SHEL (-0,11%) Shell - massive entry into e-mobility & charging infrastructure, partnerships with OEMs

$BP (-1,33%) BP - charging and energy infrastructure via bp pulse, global rollout

$TSLA (-3,07%) Tesla ($TSLA) - Supercharger network as AV backbone, potential licensing model

👉 Favorite: Tesla ($TSLA (-3,07%)
)

Moat due to world's largest fast charging network with high availability & own software integration. Compounder, as Supercharger can grow as a service independently of the OEM.

Hidden champions:

$Ionity (private, joint venture of BMW, Mercedes, Ford, VW, Hyundai) - Europe's premium charging network 👉 Access via OEMs such as BMW or Mercedes

$ALLG Allego - listed charging infrastructure operator, focus on Europe

$FAST (+0,11%) Fastned (FAST.AS) - fast charging network in Europe, rapidly growing

$DCFC Tritium DCFC - manufacturer of fast charging stations, globally active

👉 Favorite: Fastned ($FAST (+0,11%)
)

Clear business model as a pure fast-charging operator, strong moat through premium locations & brand perception. Compounder potential via expansion in Europe.

Shovel manufacturer:

$ABBN (+0,44%) ABB - leader in charging hardware & power grid infrastructure

$ENR (+4,35%) Siemens Energy - grid infrastructure & charging hardware, important supplier for energy transition + AV

$SU (+1,65%) Schneider Electric - power distribution, smart grids for charging infrastructure

$6594 (+3,38%) Nidec - motors & drives for e-mobility

$ETN (+0,44%) Eaton - Energy management & charging infrastructure components

👉 Favorite: ABB ($ABBN (+0,44%)
)

Broadly positioned from fast charging hardware to grid technology. Moat due to market leadership & long-standing customer base. Compounder, as electromobility + AV will bring growth for decades.

Takeaway:

Autonomous vehicles don't just need software, they need a reliable charging and energy base. Tesla is securing a massive advantage with its Supercharger network, while hidden champions such as Fastned are setting the pace in Europe. On the shovel side, ABB dominates with its global infrastructure expertise. Investors should not underestimate this sector, as no AV will drive without energy.

🏙️ Mobility services & platforms

Big players:

$UBER (-0,67%) Uber Technologies - ride-hailing, partnerships with AV start-ups (Momenta), robotaxi plans in Munich

$LYFT (-0,17%) Lyft - ride-hailing, own AV programs, cooperations with Aptiv & Motional

$DIDIY (+0,93%) Didi Global - largest ride-hailing network in China, AV research on Didi Autonomous Driving

$9888 (+1,67%) Baidu Apollo - robotaxi operator in China, leading with Apollo Go

$AMZN (+1,56%) Amazon / Zoox - fully autonomous robotaxi, integration into Amazon ecosystem

👉 Favorite: Baidu Apollo ($9888 (+1,67%)
HK, China, HKEX)

Moat through network effects in the world's largest mobility market. Apollo Go has already completed hundreds of thousands of robotaxi journeys. Compounder potential as China aggressively promotes AV.

Hidden champions:

$Momenta (private, China) - L4 autonomy software, partnerships with Mercedes & Toyota, based in Suzhou, China

👉 Access indirectly via investors such as $7203 (+0,82%) Toyota or Mercedes $MBG (+0,47%)

$Motional (joint venture Hyundai & Aptiv, private, USA/South Korea) - Robotaxi tests in the USA

👉 Access via $Hyundai or $APTV (+0,68%) Aptiv

$WeRide (private, China) - Robotaxi & AV bus solutions, based in Guangzhou, China

👉 Investors: Renault-Nissan-Mitsubishi Alliance

$Cruise (private, USA) - GM subsidiary for robotaxis, based in San Francisco

👉 Access via $GM (+3,46%) General Motors

👉 Favorite: Motional (private, USA/South Korea)

Strong moat through OEM partnerships (Hyundai + Aptiv). Realistic scaling through series integration, compounder potential via global fleet integration.

Shovel manufacturer:

$HTZ (+0,22%) Hertz Global - fleet management, integration of AVs in rental fleets

$SIX2 (+1,8%) Sixt SE - Car sharing & fleet leasing, focus on Europe

$R (+0,36%) Ryder System ($R, USA, NYSE) - fleet services & leasing, AV test integration

$GRAB (+1,94%) Grab Holdings ($GRAB, Singapore, Nasdaq) - Southeast Asian ride-hailing market leader, entry into AV services

$Ola Cabs (private, India) - AV pilot projects in India

👉 Favorite: Sixt SE ($SIX2 (+1,8%)
.DE, Germany, Xetra)

Moat due to premium positioning in Europe, flexible business model (rental, leasing, car sharing). Compounder, as Sixt invests early in fleet integration of AVs and benefits from growing Mobility-as-a-Service market.

Takeaway:

Mobility services are the interface to the end customer. This is where it will be decided whether AVs remain just technology or break through to the mass market. Baidu dominates in China, Motional scores with strong partners in the West, and Sixt provides the platform to bring scalable AVs into everyday life in Europe. Investors who get in early will secure access to the future platform monopolies of mobility.

🔋 Battery & drive

Big player:

$300750 CATL - world market leader for battery cells, supplies almost all major OEMs

$373220 LG Energy Solution - global player, supplier for Tesla, Hyundai, GM

$6752 (+1,71%) Panasonic Holdings - long-standing partner of Tesla, strong in energy storage

$1211 (-0,58%) BYD - integrates battery production and vehicles, pioneer in blade batteries

👉 Favorite: CATL ($300750
SZ, China, Shenzhen)

Moat due to technological leadership and economies of scale, supplies almost all global OEMs. Classic compounder, as batteries are at the heart of every AV fleet.

Hidden champions:

$Northvolt (private, Sweden) - European battery startup, sustainable production, supplies VW and BMW 👉 Access indirectly via VW ($VOW3 (+0,96%) DE, Germany, Xetra) or BMW ($BMW (+0,67%) DE, Germany, Xetra)

$SLDP Solid Power - specialist for solid-state batteries, partnerships with Ford and BMW

$ProLogium (private, Taiwan) - solid-state batteries, pilot projects with Mercedes👉 Access indirectly via Mercedes-Benz Group ($MBG (+0,47%) DE, Germany, Xetra)

$QS QuantumScape ($QS, USA, NYSE) - solid-state batteries, strong focus on future technology

$MOD (+5,77%) Modine Manufacturing (USA, NYSE) - Thermal management for batteries, e-motors and power electronics. Critical for range and safety.

$KULR (+2,82%) Technology (USA, NYSE) - specializes in battery cooling, energy storage and recycling. Still small, but focus on safety makes it interesting in the AV context.

$ZIL2 (-1,56%) ElringKlinger (DE, Germany, Xetra) - supplier of battery packs, housings, seals and fuel cell technology. Supports OEMs in electrification and alternative drive systems.

👉 Favorite: Solid Power ($SLDP
USA, Nasdaq)

Technology leader in solid-state batteries with strong OEM partnerships. Moat through patents and early market entries. Compounder potential through commercialization from 2027+.

Blade manufacturer:

$6594 (+3,38%) Nidec (JP) - leader in electric motors for EVs and AVs

$IFX (-0,02%) Infineon Technologies (DE) - semiconductors for power electronics and battery management

$300450 Wuxi Lead Intelligent (China, Shenzhen) - machines for battery production

$UMI (-0,64%) Umicore (Belgium, Euronext) - cathode materials and recycling

$ALB (+8,64%) Albemarle (USA, NYSE) - Lithium mining and processing

👉 Favorite: Infineon Technologies ($IFX (-0,02%)
DE, Germany, Xetra)

Moat due to market leadership in power electronics, deeply integrated in battery and drive systems. Compounder potential due to growing demand for silicon carbide (SiC) chips for EV and AV applications.

Takeaway:

Battery and drive are the foundation of autonomy. Without powerful energy storage, reliable electric motors and robust power electronics, no autonomous vehicle can be operated economically. CATL dominates cell production, Solid Power is a promise of the future in solid state technology, and Infineon supplies the critical power electronics. Investors who neglect this sector are ignoring the heart of autonomous driving.

🗺️ Maps & Mapping

Big players:

$GOOGL (+1,8%) Alphabet / Waymo (USA, Nasdaq) - HD maps for robotaxis, combined with AI-supported real-time navigation

$9888 (+1,67%) Baidu Apollo (China, HKEX) - leader in AV mapping in China, integrated into Apollo Go

$HERE Technologies (private, based in NL/DE, owners: Audi, BMW, Mercedes and others) - global provider of HD maps, industry standard for many OEMs

$TOM2 (-1,38%) TomTom (Netherlands, Euronext) - specialized in HD maps for AVs, partner of Volvo and Bosch

👉 Favorite: HERE Technologies (private, access via OEMs Audi, BMW, Mercedes)

Moat through global map databases, OEM consortium as backing. Compounder potential, as almost all autonomous vehicles rely on HD maps.

Hidden champions:

$002405 Navinfo Co. Ltd, (China, Shenzhen) - market leader for digital maps in China, partnerships with OEMs - unfortunately not tradable in the EU

$Civil Maps (private, USA) - specialized in AI-supported HD mapping for AVs

$DeepMap (private, USA, acquired by $NVDA (+2,31%) Nvidia) - high-precision mapping, integration with Nvidia Drive

$Mapbox (private, USA) - cloud-based mapping platform, strong in the developer ecosystem

👉 Favorite: NavInfo ($002405
SZ, China, Shenzhen)

Dominance in the Chinese market, regulatory anchoring and partnerships with major OEMs. Moat through market access in China, compounder potential through data growth.

Shovel manufacturer:

$PL Planet Labs (USA, NYSE) - daily earth observation data, basis for dynamic mapping

$HEXA B (+5,61%) Hexagon AB (Sweden, Nasdaq Stockholm) - measurement technology and geodata solutions

$TRMB (+0,76%) Trimble (USA, Nasdaq) - positioning and geospatial data for AV and industrial applications

👉 Favorite: Hexagon AB ($HEXA B (+5,61%)
Sweden, Nasdaq Stockholm)

Moat due to decades of experience in geodata and measurement technology, strong market position in industry and automotive. Compounder potential, as mapping and positioning are indispensable for all AV applications.

Takeaway:

High-precision maps are the nervous system of autonomous driving. Without continuously updated HD maps, vehicles cannot navigate safely. HERE secures a key role through OEM stakes, NavInfo dominates the Chinese market, and Hexagon provides the geospatial bucket technology. Investors should not overlook this sector, as mapping is the invisible foundation on which autonomy works.

Sources: own research, https://www.t-online.de/mobilitaet/aktuelles/id_100901210/iaa-mobility-muenchen-2025-alle-neuheiten-von-audi-bmw-vw-opel.html

Images: https://www.deraktionaer.de/artikel/mobilitaet-oel-energie/robotaxis-das-milliardenrennen-der-autonomen-autos-20381083.html

https://insideevs.de/features/763886/vorschau-iaa-2025-neuheiten-2026/

Hello dear Getquin Community,

Over the past few days, I have been working intensively on the topic of cyber security and its fundamental importance in various sectors such as healthcare, technology, energy, armaments & defense, e-commerce, software, insurance, industry, utilities, commodities, banks, fintech, holdings, crypto and blockchain. I took a closer look at the big players, the hidden champions and the essential blade manufacturers in the industry. My aim was to gain as comprehensive a picture as possible of the different levels of this industry.

If I have overlooked any important aspects or have not categorized something correctly, I look forward to your comments and interesting additions @Tenbagger2024
@Multibagger
@Simpson
@Vegasrobaina . Together we can understand the topic even better and learn from each other.

Feel free to leave a 👍. I wish you every success with your investments 🚀

At the request of @Multibagger I have subsequently added my personal favorites in each sector. I have an investment horizon of five to ten years. In addition to the quarterly figures, my main focus was on the long-term competitive advantages and the strength of the respective moat.

Contribution:

Cybersecurity is evolving from a peripheral topic to the foundation of global markets. Whether healthcare, banking, utilities, armaments & defense, energy, industry or the digital infrastructure for artificial intelligence and blockchain, the need for protection mechanisms is increasing everywhere. While the big players such as $PANW (+1,3%) Palo Alto Networks, $CRWD (+0,86%) CrowdStrike or $ZS (+1,56%) Zscaler are in the spotlight, more and more specialized providers are emerging that are essential in their niches and often have disproportionately high growth potential. Hidden champions such as $SECT B (+0,64%) Sectra in the healthcare sector, $NCNO (+0,9%) nCino in the banking sector or $ESTC (+0,93%) Elastic in the data center show that cyber security has long been a diversified ecosystem. In addition, we must not overlook the blade manufacturers, i.e. the companies that provide the technological basis. These include chip manufacturers such as $NVDA (+2,31%) , $INTC (-7,3%) Intel or $AMD (+6,32%) AMD, data center operators such as $EQIX (+0,56%) Equin$DLR (+2,14%) Digital Realty as well as software and infrastructure providers such as $ESTC (+0,93%) Elastic, $DDOG (-0,63%) Datadog or $ANET (-0,02%) Arista Networks, without whose technology the security providers' solutions would not be scalable. The capital markets are reacting to this with valuation premiums, as the dependence on secure infrastructures is comparable to electrification in the 20th century. Investors are now faced with the question of whether to favor the established market leaders or invest in smaller companies that fly under the radar but could potentially be the real winners of tomorrow.

🔑Takeaway:

Cybersecurity is not an isolated trend, but a key investment factor across all industries from hospitals to data centers from payments to crypto platforms.

Healthcare

Major players:

$PANW (+1,3%) Palo Alto Networks (PANW), $FTNT (+0,84%) Fortinet (FTNT), $CHKP (-0,87%) Check Point (CHKP), $CRWD (+0,86%) CrowdStrike (CRWD), $S (+0,83%) SentinelOne (S), $CYBR (+0,7%) CyberArk (CYBR), $ZS (+1,56%) Zscaler (ZS), $NET (+0,22%) Cloudflare (NET), $AKAM (-0,14%) Akamai Tech. (AKAM)

- Core provider for firewalls, zero trust, endpoint and web security

My top 2 recommendation in this sector are $ZS (+1,56%) Zscaler global Zero Trust Exchange, huge barrier to entry as infrastructure is built globally and $PANW (+1,3%) All-in-one platform, extremely high customer retention, hard to replace + acquisition of the company $CYBR (+0,7%)

Hidden champions:

$SECT B (+0,64%) Sectra (SECT-B.ST) - secure imaging & healthcare security

$VRNS (+0%) Varonis Systems (VRNS) - protection of sensitive patient data

Imprivata (private, partnerships with listed players) - identity management for clinics

My top recommendation
$SECT B (+0,64%) Niche leadership in healthcare security & medical technology

Blade manufacturer:

$NVDA (+2,31%) Nvidia (NVDA), $INTC (-7,3%) Intel (INTC), $AMD (+6,32%) AMD (AMD) - Chips & computing power for security appliances

$EQIX (+0,56%) Equinix (EQIX), $DLR (+2,14%) Digital Realty (DLR) - Data center infrastructure for clinical data

$ESTC (+0,93%) Elastic (ESTC), $DDOG (-0,63%) Datadog (DDOG) - basic software for monitoring & analytics

My top 2 recommendations are $NVDA (+2,31%) - GPUs, quasi-monopoly in high-end compute and $EQIX (+0,56%) - largest global colocation provider, enormous switching costs

🔑 Takeaway healthcare

Healthcare data is highly sensitive and clinics are at high risk of ransomware. In addition to large security providers, hidden champions such as Sectra and Varonis are gaining in importance as they secure directly at the interface between patient data and medical devices.

Technology, Data centers & AI, Telecommunications

Major players:

$ZS (+1,56%) Zscaler (ZS), $S (+0,83%) SentinelOne (S), $CHKP (-0,87%) Check Point (CHKP)

- Protection for cloud and AI environments

My top recommendation $ZS (+1,56%) - Global Zero Trust Exchange, almost impossible to copy

Hidden champions:

$ESTC (+0,93%) Elastic (ESTC) - Security-Analytics

$ANET (-0,02%) Arista Networks (ANET)

- Network switches for data centers

My top recommendation $ANET (-0,02%) - High-end switches, hyperscaler customers

Shovel manufacturer:

$EQIX (+0,56%) Equinix (EQIX), $DLR (+2,14%) Digital Realty (DLR)

- Data center infrastructure

$NVDA (+2,31%) Nvidia (NVDA), $INTC (-7,3%) Intel (INTC), $MRVL (+4,17%) Marvell Tech. (MRVL)

- Chips & computing power for AI and security

My top 2 recommendation $NVDA (+2,31%) - GPUs, quasi-monopoly in high-end compute and $EQIX (+0,56%) - largest global colocation provider, enormous switching costs

Special players Telecommunications

$AKAM (-0,14%) Akamai Tech. (AKAM) & Cloudflare (NET) - secure traffic and mobile data

$RDWR (+0,89%) Radware (RDWR) - DDoS protection for telcos

$CSCO (+0,2%) Cisco (CSCO) - network security for carriers

$CLAV (-0,15%) Clavister Holding AB (CLAV) - through SD-WAN and carrier security

My top recommendation $AKAM (-0,14%) - Established CDN + Security

🔑 Takeaway technology, data centers & AI

Data centers and AI platforms are the backbone of the digital economy. Zero Trust and cloud security from Zscaler or SentinelOne meet shovel manufacturers such as Equinix or Nvidia, who are indispensable with infrastructure and chips.

Energy

Major players:

$FTNT (+0,84%) Fortinet (FTNT, NASDAQ) - OT/ICS security for power grids and power plants

$PANW (+1,3%) Palo Alto Networks (PANW, NASDAQ) - Zero Trust & network protection for energy suppliers

$CHKP (-0,87%) Check Point (CHKP, NASDAQ) - Critical infrastructure protection, gas and oil industry

My top recommendation $FTNT (+0,84%) - ASIC hardware + software, cost advantage

Hidden champions:

Dragos (private, IPO candidate) - leader in OT security, specialized in energy infrastructures

$RDWR (+0,89%) Radware (RDWR, NASDAQ) - DDoS defense for energy networks

$NCC (-2,22%) NCC Group (NCC.L, London) - penetration tests & audits for utilities

$CLAV (-0,15%) Clavister Holding AB (CLAV) - OT/ICS and infrastructure security

My top recommendation $CLAV (-0,15%) - small niche player (carrier security)

Shovel manufacturer:

$SBGSY (+1,81%) Schneider Electric (SBGSY, OTC) - OT/ICS hardware with security components

$ENR (+4,35%) Siemens Energy (ENR, Frankfurt) - Energy infrastructure with embedded security solutions

$AVGO (+1,78%) Broadcom (AVGO, NASDAQ) - Security chips for networks in energy environments

My top recommendation $AVGO (+1,78%) - Chip giant + Symantec Enterprise Security

E-Commerce

Major players:

$NET (+0,22%) Cloudflare (NET, NYSE) - DDoS and API protection for online stores & payment platforms

$AKAM (-0,14%) Akamai (AKAM, NASDAQ) - Application security & bot management in e-commerce

$FFIV (-1,87%) F5 Networks (FFIV, NASDAQ) - API & payment security for digital platforms

My top recommendation $NET (+0,22%) - worldwide network for DDoS/API, network effects

Hidden Champions:

$RSKD (+2,42%) Riskified (RSKD, NYSE) - Fraud prevention in online trading

$VRNS (+0%) Varonis Systems (VRNS, NASDAQ) - Protection of customer data

$CYBR (+0,7%) CyberArk (CYBR, NASDAQ) - Identity & access protection for payment processes

My top recommendation $CYBR (+0,7%) - Standard for Privileged Access

Shovel manufacturer:

$V (+0,08%) Visa (V, NYSE) & $MA (-0,34%) Mastercard (MA, NYSE) - not classic cybersecurity, but operators of secure payment networks

$ESTC (+0,93%) Elastic (ESTC, NYSE) - fraud analytics for e-commerce platforms

$DDOG (-0,63%) Datadog (DDOG, NASDAQ) - monitoring & security analytics for retail infrastructure

My top recommendation $V (+0,08%) - Global payment network, enormous network effect

🔑 Takeaway:

Energy is particularly vulnerable due to OT/ICS systems, specialists such as Dragos are emerging here.

E-commerce needs fraud prevention in addition to traditional web security, which is why players such as Riskified are occupying a niche.

Armaments & Defense

Major players:

$NOC (-0,1%) Northrop Grumman (NOC, NYSE) - leader in cyberdefense for military & intelligence agencies, also developing offensive cyber capabilities

$BAESY (-1,18%) BAE Systems (BAESY, OTC) - strong cyber intelligence division, protects critical military and government networks

$RTX (+0,1%) Raytheon Technologies (RTX, NYSE) - defense company with growing cybersecurity portfolio for military communications & satellites

My top recommendation $NOC (-0,1%) - Top defense contractor with cyber dominance

Hidden champions:

$PLTR (+2,29%) Palantir Technologies (PLTR, NYSE) - Data and analytics platform with strong cybersecurity component, often for defense contractors

$CACI (+0,09%) CACI International (CACI, NYSE) - specializes in cyber intelligence, network protection and military IT services

$LDOS (-1,66%) Leidos Holdings (LDOS, NYSE) - IT and cybersecurity service provider for US defense and NATO

$CLAV (-0,15%) Clavister Holding AB (CLAV) - used by government and military organizations

$ADVE Advenica (ADVE) - Specialized security, relevant for government agencies and national infrastructure

My top recommendation $CACI (+0,09%) - Cyber intelligence, deep roots in the defense sector

Shovel manufacturer:

$LHX (-0,08%) L3Harris Technologies (LHX, NYSE) - provides communications and cyber hardware for military networks

$GD (+2,31%) General Dynamics (GD, NYSE) - with its IT division GDIT also a provider of cyber defense infrastructure

$KTOS (+1,77%) Kratos Defense (KTOS, NASDAQ) - specializes in drones, satellite systems and cyber hardening of defense communications

My top recommendation $GD (+2,31%) - strong role in defense cyber with GDIT

🔑 Takeaway:

In the defence sector, the boundaries between traditional defense and cybersecurity are becoming blurred. Alongside the large defense contractors, hidden champions such as Palantir, CACI and Leidos are emerging to provide pure cyber and data expertise. Shovel manufacturers such as L3Harris and Kratos secure the technical infrastructure.

Software & insurance

Big players:

$OKTA (+0,87%) Okta (OKTA), $CYBR (+0,7%) CyberArk (CYBR), $CRWD (+0,86%) CrowdStrike (CRWD)

- Identity, endpoint and cloud security

My top recommendation $CRWD (+0,86%) - Network effect through Falcon & Threat Graph

Hidden champions:

$VRNS (+0%) Varonis (VRNS) - Data Security

SailPoint (private, formerly NYSE) - Identity Governance

$FROG (-83,22%) JFrog (FROG) - DevSecOps & Supply-Chain-Security

$CYBE CyberCatch Holdings, Inc (CYBE) - Provides AI-based cybersecurity SaaS

$GEN (+0%) Gen Digital (GEN) - one of the largest consumer cybersecurity providers worldwide (Norton, Avast, LifeLock), strong in identity protection and data protection for consumers & small businesses

$RBRK (+1,14%) Rubrik (RBRK) - data compliance and security in the area of cloud data security

My top recommendation $GEN (+0%) - Consumer security giant (Norton, Avast, LifeLock), strong brand power

Shovel manufacturer:

$MSFT (+0,63%) (MSFT), $GOOG (+1,83%) Alphabet (GOOGL), $AMZN (+1,56%) Amazon (AMZN)

- Cloud security base

$FFIV (-1,87%) F5 Networks (FFIV) - API protection for SaaS & insurance platforms

My top recommendation $GOOG (+1,83%) - global cloud security + Mandiant, strong moat through infrastructure & Threat Intel

🔑 Takeaway Software & Insurance

Data and identity protection take center stage. Major players such as Okta and CyberArk secure access, while hidden champions such as Varonis and JFrog provide specialist solutions. Cloud providers such as Microsoft and Amazon are both platform operators and security suppliers.

Industry, supply & raw materials

Major players:

$FTNT (+0,84%) Fortinet (FTNT), $CSCO (+0,2%) Cisco (CSCO), $PANW (+1,3%) Palo Alto Networks (PANW)

- Network protection for critical infrastructures

My top recommendation $FTNT (+0,84%) - ASIC hardware + software, cost advantage

Hidden champions:

$RDWR (+0,89%) Radware (RDWR) - DDoS protection

$NCC (-2,22%) NCC Group (NCC.L) - OT-Security & Penetration Tests

$SECT B (+0,64%) Sectra (SECT-B.ST) - secure infrastructure in the OT/healthcare intersection

$CLAV (-0,15%) Holding AB CLAV) - OT/ICS and infrastructure security

$ADVE Advenica (ADVE) - Specialized security, relevant for public authorities and national infrastructure

My top recommendation $ADVE - Specialized Crypto/OT-Security for public authorities

Shovel manufacturer:

$AVGO (+1,78%) Broadcom (AVGO) - security chips

Juniper Networks (JNPR) - network backbones

$ANET (-0,02%) Arista Networks (ANET) - high-end switches

My top recommendation $AVGO (+1,78%) - Chip-Giant + Symantec Enterprise Security

🔑 Takeaway Industry, Utilities & Commodities

OT/ICS systems in production, energy and raw materials are attractive targets. Fortinet and Palo Alto dominate, but hidden champions such as Radware and the NCC Group offer special expertise for attacks on industrial control systems.

Banks, Fintech & Holdings

Big players:

$CRWD (+0,86%) CrowdStrike (CRWD), $PANW (+1,3%) Palo Alto Networks (PANW), $ZS (+1,56%) Zscaler (ZS)

- Core protection for banks & digital platforms

My top recommendation $ZS (+1,56%) - Global Zero Trust Exchange, almost impossible to copy

Hidden champions:

$NCNO (+0,9%) nCino (NCNO) - Cloud Banking Security

$NCC (-2,22%) NCC Group (NCC.L) - Audits & Compliance

$CYBE CyberCatch Holdings, Inc (CYBE) - Provides AI-based cybersecurity SaaS

$GEN (+0%) Gen Digital (GEN) - through fraud prevention and identity topics

My top recommendation $GEN (+0%) - Consumer security giant (Norton, Avast, LifeLock), strong brand power

Shovel manufacturer:

$FFIV (-1,87%) F5 Networks (FFIV) - API security for payments

$AKAM (-0,14%) Akamai Tech. (AKAM) - Web & Payment Security

$ESTC (+0,93%) Elastic (ESTC) - Fraud Analytics

My top recommendation $FFIV (-1,87%) - Leader in Application & API Security

🔑 Takeaway Banks, Fintech & Holdings

High regulatory pressure makes cybersecurity a mandatory field. In addition to established providers, banks are relying on hidden champions such as nCino or Darktrace for cloud banking and anomaly detection. Shovel manufacturers such as F5 or Akamai secure payment APIs and banking portals.

Crypto & blockchain

Big players:

$PANW (+1,3%) Palo Alto Networks (PANW), $FTNT (+0,84%) Fortinet (FTNT), $CRWD (+0,86%) CrowdStrike (CRWD)

- Core protection for exchanges, wallets and blockchain infrastructure

My top recommendation $FTNT (+0,84%) - ASIC hardware + software, cost advantage

Hidden champions:

$BBAI (+2,84%) BigBear.ai (BBAI) - Blockchain Fraud Detection

$RIOT (+5,14%) Riot Platforms (RIOT) - Mining with a focus on security

$CHKP (-0,87%) Check Point - the new blockchain firewall initiative (Web3)

My top recommendation $CHKP (-0,87%) - Strong brand & existing customers, but limited innovative strength

Shovel manufacturer:

$NVDA (+2,31%) Nvidia (NVDA), AMD (AMD) - chips & mining hardware

$NET (+0,22%) Cloudflare (NET), $AKAM (-0,14%) Akamai Tech. (AKAM)

- Network protection for wallets & exchanges

My top recommendation $NVDA (+2,31%) - GPUs, quasi-monopoly in high-end compute

🔑 Takeaway crypto & blockchain

Crypto ecosystems are heavily affected by attacks on exchanges, wallets and smart contracts. While traditional security players provide protection, niche providers such as BigBear.ai and Riskified are emerging that specialize specifically in fraud and blockchain risks.

Source: Own analysis, image material: schwarz-digits

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

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