$DPZ (+3,04%)
$SCHW (-2,5%)
$HAS (+2,66%)
$HAL (+0%)
$MMM (+0,51%)
$MSCI (+2,17%)
$IBKR (+1,2%)
$EQNR (-0,79%)
$GEV (-1,09%)
$T (+1,4%)
$PM (-2,98%)
$MCO (+3,35%)
$TXN (-1,5%)
$GOOG (-0,26%)
$NOW (+6,02%)
$IBM (+1,99%)
$QS (+7,95%)
$TSLA (+1,79%)
$IDR (+0,83%)
$NESN (+4,04%)
$UCG (-0,81%)
$RTX (+0,1%)
$NDAQ (+1,15%)
$DOW (+1,36%)
$LMT (+1,31%)
$HON (+1,02%)
$SAP (+2,05%)
$INTC (-2,26%)
$VOW (+0,26%)
$AXP (+1,76%)
$FIX (-4,13%)

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 (+0,51%)
$COK (-0,55%)
$LAND (-2,12%)

My $INTC (-2,26%) I also sold my position completely in 3 steps, after the last purchases around 20$ this is currently too much euphoria and above all a crazy valuation. $ROP (+2,13%) 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 (-0,19%) and $BKW (+2,39%) I have built up a separate energy share and that $DTE (+1,32%) is now also in the portfolio - I'm in. My $XDJP (-1,61%) ETF is doing splendidly and my $XD5E (+0,79%)
$VFEM (-1,18%) and $VAPX (-2,07%) ETFs are doing well and will be expanded further. Otherwise, a lot has flowed into existing candidates (e.g. $ABBV (-0,59%) or $PG) (-0,14%)many US stocks have been increased and $BRK.B (-0,66%) bought a little more. The CHF portfolio was increased by $ZURN (+3,71%) , $SLHN (+2,92%) , $VZN (+3,44%) and the $PGHN (+1,6%) and $BCHN (-0,29%) I have increased my purchases.

Oh and yes, the chip shop $NOVO B (+2,68%) 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 🤓

$UNH (+2,71%)
$DHI (+3,82%)
$RTX (+0,1%)
$HAL (+0%)
$MMM (+0,51%)
$NOC (+0,64%)
$MSCI (+2,17%)
$IBKR (+1,2%)
$ISRG (+1,85%)
$COF (+1,95%)
$BN (+2,31%)
$EQT (-0,96%)
$ABBN (-0,99%)
$GEV (-1,09%)
$T (+1,4%)
$CME (+1,3%)
$PM (-2,98%)
$MCO (+3,35%)
$BA (+1,96%)
$UAL (+2,26%)
$OR (+3,88%)
$TXN (-1,5%)
$LRCX (-2,87%)
$NOW (+6,02%)
$IBM (+1,99%)
$TSLA (+1,79%)
$000660
$018260
$NESN (+4,04%)
$SAAB B (+4,57%)
$DSY (+3,73%)
$NOKIA (+1,01%)
$ASC (+3,76%)
$ROG
$NDAQ (+1,15%)
$DOW (+1,36%)
$KDP (+3,18%)
$AAL (+0,73%)
$LMT (+1,31%)
$AXP (+1,76%)
$BX (+2,58%)
$FCX (+0,79%)
$SAP (+2,05%)
$INTC (-2,26%)
$NEM (+3,86%)
$FIX (-4,13%)

This time, a little earlier than in February, here is my review of February.

A good development but unfortunately also a premature sale.

📈 Performance:

S&P500: -0.36%

MSCI World: +1.05%

DAX: +3.04%

Dividend portfolio: +5.41%

My high and low performers in February were (top/flop 3):

🟢 ($8058 (+0,6%) ) Mitsubishi +29.13%

🟢 ($2768 (+0,43%) ) Sojitz +25.00%

🟢 ($HSY (+2,24%) ) Hershey +22.03%

🔴 ($D05 (+0,77%) ) DBS Group -5.56%

🔴 ($MSFT (+0,54%) ) Microsoft -7.95%

🔴 ($HTGC (+1,78%) ) Hercules Capital -16.33%

Dividends:

February 2026: €93.32

February 2025: € 137.56

Change: -32.16%

This change is partly due to the fact that Realty Income reclassified the 2024 dividend last year in February, resulting in a higher amount in February.

I also divested Medical Properties, which is why this dividend is of course no longer paid.

Sales:

🟥 United Health ($UNH (+2,71%) )

🟥 Lockheed Martin ($LMT (+1,31%) )

🟥 3M ($MMM (+0,51%) )

🟥 Tesla ($TSLA (+1,79%) )

🟥 Nintendo ($7974 (+2,38%) )

Purchases:

🟩 United Health ($UNH (+2,71%) )

🟩 Cisco Systems ($CSCO (-3,95%) )

🟩 VICI ($VICI (+1,58%) )

🟩 American Tower ($AMT (+0,75%) )

Savings plans:

($CTAS (+1,51%) ) Cintas (50€)

($MC (+3,45%) ) LVMH (50€)

($MSFT (+0,54%) ) Microsoft (25€)

As part of a smaller clean-up operation, I got rid of a few stocks that were really only a very small position in my portfolio. These include

- the remainder of Nintendo (only the profit was still running)

- 3M: Small position and dividend also too low

- Tesla: My foray into the tech world is over

I also sold Lockheed Martin. I thought it was a good time. The stock was doing well, but I think it will now gradually cool off. In addition, other defense companies are becoming more active and there will be more distribution here.

Unfortunately, I was wrong about that. In fact, I didn't believe that Iran would actually be attacked to this extent. I have therefore lost another 10% so far. Overall, however, this is not so tragic. I sold with a 30% gain and thus tidied up my portfolio further.

Last but not least, I sold United Health at around -30% to fill my loss pot and make the other sales tax-free. I then bought United Health again, together with an increase in VICI, American Tower and Cisco Systems.

What else has happened?

February was generally rather quiet, apart from the political tensions in the Middle East. These escalated towards the end of the month. We can expect an exciting March. In terms of performance, I am definitely satisfied. For the year as a whole, I am currently up 7.8%. The DAX is the closest pursuer with +3.2%.

I am still building up my nest egg. I didn't make any purchases in January and have only done the reallocations in February. This means I can definitely complete the build-up in April and invest a little more again from then on, although I am more likely to be building up cash at the moment.

At the end of the month I realized that my Payback had been hacked (or whatever) and 13,000 points were stolen or redeemed. Annoying... That's what happens when you don't have 2FA activated. But Payback still doesn't seem quite so secure to me. Incidentally, you don't need to expect help from customer service. They generally just refer you to the police. Of course, there's no refund either.

Edit: Today, 03.03. the payback points are back. No idea why. I didn't get a message or anything but DM canceled it. So apparently customer service did react or DM noticed the fraud. No idea. Anyway, I paid out the points straight away 😅😂

🥅 Goals 2026:

I'm trying to reach €85,000 in my dividend portfolio this year. This is to be achieved through dividends, deposits and, of course, share price increases. Let's see what it looks like at the end of the year, as the start is rather sluggish. I'll have to make up for that over the course of the year.

Anyone who liked the report and would like to read more is welcome to follow me,

If you're not interested, you can keep scrolling or use the block function.

$MMM (+0,51%)
$NFLX (+1,32%)
$JNJ (-0,52%)
$HAL (+0%)
$UAL (+2,26%)
$EQT (-0,96%)
$PG (-0,14%)
$ISRG (+1,85%)
$INTC (-2,26%)
$AA (+2,19%)
$COF (+1,95%)
$ERIC A (+13,48%)

Here’s my recap of December 2025. I’ll probably write a year-end recap as well, where I’ll go into more detail about the dividends. But that will likely take a few more days.

📈 Performance:

S&P 500: -0.33%

MSCI World: +0.32%

DAX: +2.74%

Dividend portfolio: -1.55%

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

🟢 ($2318 (-1,05%) ) Ping An +15.65%

🟢 ($RIO (-1,78%) ) Rio Tinto +11.61%

🟢 ($2768 (+0,43%) ) Sojitz +7.15%

🔴 ($MMM (+0,51%) ) 3M -6.81%

🔴 ($TSCO (+2,28%) ) Tractor Supply -8.45%

🔴 ($7974 (+2,38%) ) Nintendo -21.09%

Dividends:

December 2025: €208.88

December 2024: €185.64

Change: +12.52%

Sales:

🟥 ($MICC (+1,2%) ) The Magnum Ice Cream Company

Purchases:

🟩 ($HD (+3,85%) ) Home Depot (2 shares)

Savings plans:

($CTAS (+1,51%) ) Cintas (50€)

($MC (+3,45%) ) LVMH (50€)

($MSFT (+0,54%) ) Microsoft (€25)

What else has been going on?

As is often the case in December, there are those who rush from one Christmas party to the next, are constantly busy with appointments, and can’t find a moment’s peace even at Christmas.

Then there are those who take it very easy in December, enjoy relaxed evenings watching TV, make the most of the nice weather during the day (if possible), and at least try to keep things fairly low-key on Christmas. I’m one of the latter—and only on Christmas do I join the former. Accordingly, my December was pretty quiet, except for the Christmas rush, when you’re rushing from one meal to the next and from one relative to the next. With various birthdays around Christmas and between Christmas and New Year’s, things stay stressful. Fortunately, for the past few years, I’ve set aside the day after Christmas for my wife and me. We don’t visit anyone then, and we don’t want anyone over either. We just spend the whole day doing whatever we feel like doing. Other than that, we had a quiet New Year’s Eve, and that was it for 2025.

🥅 Goals for 2025:

Deposit of €10,000, bringing the total value of my stock portfolio to ~€73,000

Goal achievement as of the end of December 2025: 91.56%

So I actually didn’t quite reach my goal, although I was able to reach the targeted total investment (including the bond portfolio & Oskar) of €20,000.

Overall, I’m quite satisfied with the year. In the year-end review, as mentioned above, I’ll go into more detail about the dividends and the overall performance.

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

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

$SOLV WI (+0,38%)

As here (formerly) 3M

$MMM (+0,51%)

fanboys were probably also here because of the (then) dividend, after the phoenix 🐦‍🔥 from the ashes --> see 3M article, does anyone still know IN - Solventum?!

Yes, many wanted to book out the stock (hardly tradable in Germany).

From 64 USD it went rapidly downhill to 48 USD

the grief was high with 3M.

After 16 months and up 90%, the stock is now at its ATH of USD 86

Buy and hold?

The acquisition of Acera is intended to close an important gap in Solventum's portfolio in the field of modern wound care, particularly in the US market, on which Acera focuses.

Transaction is expected to be slightly dilutive to adjusted earnings per share in 2026 before being accretive to earnings from 2027 onwards as margins improve through revenue growth and savings in administrative and overhead costs.

Solventum addressed investor concerns regarding recent changes to the Centers for Medicare & Medicaid Services (CMS) reimbursement model, noting that these primarily affect biologics in the non-acute setting.

The company emphasized that Acera's Restrata products are synthetic and sold exclusively in hospitals, limiting the risk from these reimbursement changes.

Regarding the announcement of the share buyback worth

1 billion, Solventum stated that the timing of the buyback was largely coincidental to the acquisition announcement.

The company explained that the share buyback program was not explicitly included in the calculations to achieve the medium-term earnings per share target of 10% compound annual growth rate until 2028.

This share buyback contributes to Solventum's high shareholder return despite the non-payment of dividends to shareholders.