September was the month in which my account shone like the last rays of summer sunshine! Why? The half-year bonus catapulted this month into the month with the highest income of all time. Of course, the money doesn't go into savings, but is put into the market the following month, because share price growth and dividends beat any consumption. There was also an unexpected refund from the dental supplement, which has already been reinvested. Who says that prophylaxis doesn't bring returns after all?

And what else? Business as usual: preparations for ice swimming started at the end of the month thanks to colder temperatures, daily sport and exercise, a nice community meeting of frugalists and investors. Yes, we talked about dividends rather than the latest fashion. Everything was rounded off with a donation. My portfolios went sideways, but did what they are supposed to do: Generate cash flow. And from this month onwards, there will be additional risk figures presented. A little growth and distribution. Time for a review!

Overall performance

This month was a typical month of consolidation for me. My investments moved sideways with only a very slight increase. Is this a good sign for a year-end rally? There was also an initial cut in the Fed's key interest rate. However, there were no major movements, and Q4 is more likely to be responsible for this. As always, income rained down on the account. My key performance indicators for my overall portfolio at a glance:

• TTWROR (month under review): +1,76 % (previous month: +1.01 %)
• TTWROR (since inception): +76,55 %
• IZF (month under review): +9,64 % (previous month: +12.50 %)
• IZF (since inception): +11,15 %
• Delta: +€615.12
• Absolute change: +€2,635.52

Performance & volume

The rise in the price of $AVGO (-7,17%) allows my largest single share position to grow further and strengthens its dominance. And the class leader has not spilled the beans in terms of performance since purchase either: +337%! After the $BAC (-3,39%) climbed into the top 5 by volume in the previous month, it remains in this group. The banks are currently doing well. Also$WMT (-0,92%) The retail giant is a reliable dividend payer and an important pillar among my individual stocks. The competitor$TGT (-4,66%) on the other hand, is the red lantern in my portfolio. Despite thefts and sales problems, I see a healthy business model. I am sure that this share will bounce back and continue to invest on a monthly basis.

Size of individual share positions by volume in the overall portfolio:

Share (%) of total portfolio and associated portfolio:

$AVGO (-7,17%) 3.30 % (main share portfolio)

$NFLX (-2,08%) 1.87 % (main share portfolio)

$WMT (-0,92%) 1.74 % (main share portfolio)

$FAST (-2,72%) 1.72 % (main share portfolio)

$BAC (-3,39%) 1.49 % (main share portfolio)

Smallest individual share positions by volume in the overall portfolio:

Share (%) of the total portfolio and associated securities account:

$SHEL (-3,05%) : 0.41 % (crypto follow-up portfolio)

$NOVO B (-3,44%) 0.50 % (main share portfolio)

$TGT (-4,66%) 0.55 % (crypto follow-on deposit)

$HSBA (-0,78%) 0.58 % (main share portfolio)

$GIS (-0,54%) 0.60 % (main share portfolio)

Top-performing individual stocks

Shares with performance since initial purchase (%) and the respective portfolio:

$AVGO (-7,17%) a: +337 % (main share portfolio)

$NFLX (-2,08%) : +153 % (main share portfolio)

$WMT (-0,92%) : +78 % (main share portfolio)

$FAST (-2,72%) +76 % (main share portfolio)

$SAP (-3,86%) +75 % (main share portfolio)

Flop performer individual stocks

Shares with performance since initial purchase (%) and the respective portfolio:

$TGT (-4,66%) : -38 % (main share portfolio)

$GIS (-0,54%) -31 % (main share portfolio)

$NKE (-4,98%) -27 % (main share portfolio)

$CPB (+0,85%) -24 % (main share portfolio)

$UPS (-3,46%) -24 % (main share portfolio)

Asset allocation

My asset allocation is as follows:

ETFs: 39.1%

Equities: 58.6%

Crypto: 2.2 %

P2P: less than 0.01 %

Investments and subsequent purchases

I have invested the following amounts in savings plans:

Planned savings plan amount from the fixed net salary: € 1,030

Planned savings plan amount from the fixed net salary, incl. reinvested dividends according to plan size: € 1,140

Savings ratio of the savings plans to the fixed net salary: 49.75

In addition, the following additional investments were made from returns, refunds, cashback, etc. as one-off savings plans/repurchases:

Subsequent purchases/one-off savings plans as cashback annuities from refunds: € 73.00

Subsequent purchases/non-recurring savings plans as cashback annuities from bonuses/incentives from the KK: € 0.00

Subsequent purchases from other surpluses: € 31.00

Automatically reinvested dividends by the broker: € 5.03 (function is only activated for an old custody account, as I otherwise prefer to control the reinvestment myself)

Additional purchases were made:

Number of additional purchases: 2

73.00 € for $TDIV (-1,89%)

25.00 € for $ZPRG (-1,93%)

Passive income from dividends

My income from dividends amounted to € 139.14 (€ 128.42 in the same month of the previous year). This corresponds to a change of -1.36% compared to the same month last year. The slight decrease is due to the fact that my large Vanguard ETFs postponed the distribution to the following month. The following are further key data on the distributions:

Number of dividend payments: 34

Number of payment days: 17 days

Average dividend per payment: € 4.09

average dividend per payment day: € 8.18

The top three payers are:

$ARCC (-1,33%)

$UPS (-3,46%)

$DXSA (-0,3%)

My passive income from dividends (and some interest) mathematically covered 16.05% of my expenses in the month under review.

Crypto performance

My crypto portfolio ran sideways in September with highs and lows. The hope here lies more in the coming Q4. My key figures:

Performance in the reporting period: +8.66 %

Performance since inception: +135.10

Share of holdings for which the tax holding period has expired: 98.57 %.

Crypto share of the total portfolio: 2.20 %

I am vigilant with regard to crypto. The exit should continue. I don't want to provide the exit liquidity for the other market participants. There will be news in the following month.

Performance comparison: portfolio vs. benchmarks

A comparison of my portfolio with two important ETFs shows:

TTWROR (current month): +1,76 %

$VWRL (-2,71%) : +2,63 %

$VUSA (-3,84%) : +2,56 %

One possible explanation for the poorer performance compared to the index values could be a higher proportion of individual shares,

New: Risk indicators

Here are my key risk figures for the month under review (and in brackets YTD)

Maximum drawdown: 0.94% (17.17%)

Maximum drawdown duration: 19+ days (231+ days)

Volatility: 1.68% (11.51%)

Sharpe Ratio: 5.73 (0.29)

Semi-volatility: 1.21% (9.04%)

An extremely low drawdown of only 0.94% shows that your portfolio had hardly any fluctuations during the month. This is typical for a sideways phase or stable markets.

The YTD drawdown of 17.17% is no coincidence: Trump's tariffs have mainly affected consumer-related stocks such as $TGT (-4,66%) have been hit. However, my focus on stable dividend payers and broad-based ETFs has limited the losses. The fact is, however, that Trump has put a dent in my figures.

Outlook

As you can see from the introduction, there were no highlights, but there were also no disasters for me to report on. So we're done for this month. Thanks for reading!

However, I still have some questions for you to improve my review:

Are you also interested in the performance and top/flop5 of my ETFs or cryptos? Then let me know in the comments and I'll include it in the coming months.

In my posts on Instagram and also here, I keep talking about my cashback pension. Would you like to know more about the concept, what's behind it for me and how it will supplement my "share and ETF pension"?

My review here on getquin includes additional key figures as well as those from my Instagram reviews. Would you also like to see more from the budget review of my private finances included here as a little extra?

👉 Would you like to view my review as an Instagram Carousel post?

Then follow me on Instagram:

📲 There's also 3 posts a week in addition to the portfolio and budget review: @frugalfreisein

Please pay close attention to the spelling, unfortunately there are too many fake and phishing accounts on social media. I have also been "copied" several times now.

👉 How was your month in the portfolio? Do you have any tops and flops to report?

Leave your thoughts in the comments!

Reading time: 10 minutes

Mistakes are to the stock market as volatility is to the chart. Looking back, they are what hurts the most - but also teaches the most. In recent years, I have deliberately tried out many strategies in order to develop my own system. There have been some hits - but also misses, which have shown me what really counts in the long term.

This article is primarily aimed at new investors. I hope to save you from making one or two costly mistakes - or at least to show you what really matters if you want to invest sustainably.

Five examples are particularly influential. They mark the turning points at which I went from being a pure yield hunter to a structured investor.

1. historical performance overvalued

My entry into the $INRG (-4,14%) (iShares Global Clean Energy ETF) was, in retrospect, almost textbook bad timing. I bought when the story sounded perfect: energy transition, political tailwinds, ESG money, green euphoria. The share price was close to an all-time high and fund providers were outbidding each other with promises for the future.

I let myself be dazzled - not by fundamentals, but by charts and headlines. The ETF portfolio consisted mainly of highly valued solar and hydrogen stocks with P/E ratios that were beyond all reason. I didn't really understand the product and only saw the impressive historical performance.

After a few months, I was down around -17% and realized the loss - a classic example of past performance bias. Today, the ETF is trading significantly lower again.

Learning:

High historical returns are not an argument, but a warning. When a sector is already overrun by institutional money, the regression to the mean begins. Since then, I have checked the composition, valuation levels and the cycle of the narrative for every investment. An ETF is only as good as its components - and hype is no substitute for analysis.

2. value trap instead of value opportunity

$INTC (-5,15%) (Intel) seemed to me at the time to be a classic underperformance opportunity: lower P/E ratio than $NVDA (-6,14%) (NVIDIA) or $AMD (-10,01%) (Advanced Micro Devices), solid cash flow, decent dividend. I saw the numbers, not the structure.

The company has been struggling for years with innovation gaps, manufacturing problems and a protracted strategy. Margins were falling, market share was shrinking - but the valuation looked attractive. This is precisely the nature of a value trap: cheap because the business model is losing competitiveness.

I held on to the thesis for too long and eventually realized a loss of around -21 %. Despite the current upswing, Intel is still lagging behind today, while its competitors have further extended their lead.

Learning:

Valuation alone is not a safety net. Favorable multiples are often a symptom, not an opportunity. I have learned that capital flows, technological dynamics and management quality are crucial. Value only works if the business model is intact - not if you are hoping for a renaissance that is fundamentally unproven.

3. "What falls is cheap" - the fallacy using the example of $PYPL (-9,04%)
(PayPal)

Another classic mistake: the belief that a sharp fall in the share price is automatically a good entry point. After PayPal's massive correction in 2021, I thought this was a rare opportunity. The company was once overvalued - no question - but I interpreted the setback as a downward exaggeration.

I got in after the share had already fallen sharply and even bought more as it continued to fall. The assumption: "It won't fall that low again." But it continued to fall - and has not recovered sustainably to this day. The exaggerated valuation premium from the boom years was simply no longer justified.

In the end, I realized a loss of around -44 %. The share will probably never reach the old highs again because the market environment, margin structure and growth have changed permanently.

Learning:

A falling share price does not automatically make a share cheap. You have to examine why it has fallen - and whether the fundamental situation has changed. An exaggeration on the upside is often followed by an overcorrection on the downside, and the old valuation remains out of reach for years. Today, I prefer to invest in companies whose trend is intact instead of speculating on "comebacks".

4. warning signals ignored - the example $CLI (-3,29%)
(Cliq Digital)

For those unfamiliar with CLIQ, the company positions itself as a streaming provider - similar to $NFLX (-2,08%) (Netflix), only much more niche. On paper, everything seemed to fit: high margins, strong growth, an attractive dividend and a barely noticed small cap with potential.

I saw the opportunities - but not the contradictions. The business model was difficult to understand, the reporting was incomplete and the short interest was extremely high. Nevertheless, I held on to the position - "because the figures were so good".

In the end, I realized a loss of around -26 %, including dividends. Today, the value is almost 90 % lower.

Learning:

If you don't understand a business model, it's not a good idea to be invested. Transparency is not a nice-to-have, but a must. In small caps in particular, you should check carefully whether growth is real, repeatable and sustainable. Since this experience, I have avoided business models that I cannot explain in two sentences - and take high short ratios as a serious warning signal.

5. trend understood - implementation missed

I wanted to focus on the self-service trend early on: Terminals for fast food chains, supermarkets, airports. A massive growth market - but I was looking for the wrong player. I found $M3BK (-1,88%) (Pyramid), a small German company with a reverse IPO structure, hardly any investor relations, low liquidity and a non-transparent balance sheet.

I invested, convinced by the trend - not the business model. The share fell for months and I realized a loss of around -34%. Today it is trading at penny stock level.

Learning:

A strong trend alone does not make a good investment. The decisive factor is who has the real leverage in the value chain. It is often not the visible brands that benefit, but the blade manufacturers in the background - suppliers, infrastructure companies, platform providers. I have learned to analyze the ecosystem first and then look for the most profitable position in it.

Overarching learnings

These five mistakes were expensive, but their impact was priceless. Today, they are an integral part of my methodology - both in the 10B model (for growth opportunities) and in the Hidden Quality Radar (for quality values).

1. foundation beats narrative:

Stories are loud, but numbers are honest. Today, I check every investment for cash flow quality, return on capital and strategic positioning - and only then for valuation.

2. timing is crucial - but only in the right context:

I used to think that timing was unimportant, the main thing was to invest for the long term. Today I have a more differentiated view: the time of entry is a decisive factor in determining the risk/reward profile. If you buy in euphoric phases, you often pay for the correction years later. On the other hand, those who invest in downward exaggerations - with fundamental analysis and patience - gain a massive advantage. Timing is therefore not a game of chance, but the result of preparation, market observation and discipline.

3. accept small losses:

Discipline beats hope. Getting out early when things go wrong saves capital for better opportunities.

Here I would like to recommend a great article by @DonkeyInvestor recommend: https://getqu.in/eymPwi/

4 Transparency and management count:

I only invest in companies whose strategy and communication are transparent. Trust is not a gut feeling, but a data point.

These experiences have shaped the way I think today: patience instead of greed, quality before valuation, understanding before actionism. I have learned that you don't always have to be right on the stock market - you should think consistently.

Mistakes are inevitable. But if you reflect on them honestly, you build up your expertise with every bad experience.

What mistakes have shaped you - and what have you learned from them?

For fun, I took a textbook (risk/return) approach with an efficient frontier analysis. This would make you buy these stocks

$AMZN (-5,92%)
$AAPL (-4,63%)
$MSFT (-3,3%)
$GOOGL (-3,4%)
$ORCL (-3,03%) and $NVDA (-6,14%)

Do not buy the following shares:

$TSLA (-6,86%)
$NFLX (-2,08%)
$UBER (-3,78%) and with $META (-5,02%) you can argue!

I also think conservative approaches are good to strengthen his thesis - I have Amazon, Alphabet and Nvidia in my portfolio :)

$NFLX (-2,08%) BREAKING: Elon Musk has just canceled his Netflix account after it was revealed that the platform is showing a show he produced called "Dead End Paranormal Park," which is advertised to 7-year-olds and pushes pro-transgender ideology on children.

"I'm trans," says the character in the show.

As a result, there is currently a million wave on X canceling their account, this could also have an impact on Netflix. (I think more in the short term though)

Here are a few examples:

Because the share has not moved, the question is whether this is relevant:

August gave us another real midsummer and showed its best side on some days. For me, it was the perfect opportunity to pursue one of my hobbies: Swimming, swimming and swimming again. I enjoyed every minute in the now cooler water. There was no hiking this month, but the swimming made up for it completely. I'm slowly looking forward to cooler temperatures again, because the cold adaptation for ice swimming is already calling! But before we head into fall, it's time for a look back.

Overall performance

After the brief consolidation caused by the new Trump tariffs, my portfolio recovered quickly and showed a stable, slightly positive performance in August. The prospect of interest rate cuts by the Fed provided a small boost, but there were no major movements. Typical summer slump. But, as expected, what had to come arrived on time: the distributions. My key performance indicators for my overall portfolio at a glance:

• TTWROR (month of August): +1.01 % (previous month: +3.82 %)
• TTWROR (since inception): +73,69 %
• IZF (month of August): +12.50 % (previous month: +46.14 %)
• IZF (since inception): +10,79 %
• Delta: +794.74 €
• Absolute change: +1,850.61 €

Performance & volume

My class leader continues to expand its dominance. If this continues, it will soon become a decisive factor in overall performance. The $BOA rises into the top 5 by volume, $SAP (-3,86%) falls back. Rising in terms of performance$MAIN (-4,69%) and there, too, the$SAP (-3,86%) falls back. I also notice something about the winners of the red lantern in terms of performance:$NOVO B (-3,44%) has reached the bottom basement, once one of my very strongest stocks. So the tide is turning. Opportunity to buy more? Instead$CPB (+0,85%) has risen from the cellar. But this share still has a long way to go.

Size of individual share positions by volume in the overall portfolio:

Share (%) of total portfolio and associated portfolio:

• $AVGO (-7,17%) : 3.30 % (main share portfolio)
• $NFLX (-2,08%) 1.98 % (main share portfolio)
• $WMT (-0,92%) 1.72 % (main share portfolio)
• $FAST (-2,72%) s: 1.69 % (main share portfolio)
• $BOA 1.45 % (main share portfolio)

Smallest individual share positions by volume in the overall portfolio:

Share proportion (%) of the total portfolio and associated securities account:

• $SHEL (-3,05%) : 0.42 % (crypto follow-on portfolio)
• $NOVO B (-3,44%) 0.49 % (main share portfolio)
• $HSBA (-0,78%) 0.54 % (crypto follow-on portfolio)
• $TGT (-4,66%) 0.57 % (main share portfolio)
• $GIS (-0,54%) 0.61 % (main share portfolio)

Top-performing individual stocks

Shares with performance since initial purchase (%) and the respective portfolio:

• $AVGO (-7,17%) : +328 % (main share portfolio)
• $NFLX (-2,08%) : +176 % (main share portfolio)
• $FAST (-2,72%) +83 % (main share portfolio)
• $MAIN (-4,69%) : +79 % (main share portfolio)
• $SAP (-3,86%) +74 % (main share portfolio)

Flop performer individual stocks

Shares with performance since initial purchase (%) and the respective portfolio:

• $TGT (-4,66%) : -36 % (main share portfolio)
• $GIS (-0,54%) -31 % (main share portfolio)
• $UPS (-3,46%) -26 % (main share portfolio)
• $NKE (-4,98%) -25 % (main share portfolio)
• $NOVO B (-3,44%) -21 % (main share portfolio)

Asset allocation

My asset allocation is as follows:

• ETFs: 38.3 %
• Equities: 59.0 %
• Crypto: 2.60%
• P2P: less than 0.01%

Investments and subsequent purchases

Here is a small overview of what I have invested via savings plans according to my fixed planning.

• Planned savings plan amount from the fixed net salary: €1,030
• Planned savings plan amount from the fixed net salary, incl. reinvested dividends: €1,140
• Savings ratio of the savings plans to the fixed net salary: 49.75

In addition, there were the following additional investments from returns, refunds, cashback, etc. as one-off savings plans/repurchases:

• Subsequent purchases/one-off savings plans as cashback annuities from refunds: € 79.00
• Subsequent purchases/one-off savings plans as a cashback annuity from bonuses/incentives from the KK: € 20.00
• Subsequent purchases from other surpluses: € 30.00
• Automatically reinvested dividends by the broker: € 3.01 (this function is only activated for an old custody account, as I otherwise prefer to manage the reinvestment myself)

Additional purchases were made:

• Number of additional purchases: 3
• 55.00 € for $JEGP (-2,16%)
• 
  44.00 € for $GGRP (-2,39%)
• 
  30.00 € for $FGEQ (-2,87%)
• 
  295.08 € for $DXSA (-0,3%) (funds from the sale of a $ETH (+5,41%) tranche)

If you want to know how my cashback pension tops up my share and ETF pension, please write it in the comments.

Passive income from dividends

My income from dividends amounted to €128.42 (€92.61 in the same month last year). This corresponds to an increase of +38,67 % compared to the same month last year. The following is further key data on the distributions:

• Number of dividend payments: 22
• Number of payment days: 12 days
• Average dividend per payment: € 5.83
• average dividend per payment day: € 10.70

The top three payers are:

• $IWDP (-1,66%)
• 
  $ISPA (-2,02%)
• 
  $ZPRG (-1,93%)

My passive income from dividends (and some interest) mathematically covered 14.94% of my expenses in the month under review.

Crypto performance

My crypto portfolio was characterized by the partial sale of a $ETH (+5,41%) tranche as part of my "crypto succession strategy". Around € 298 in Etherium was taken off the table.

Here are some key figures:

• Monthly performance portfolio: +0.29 %
• Performance since inception: +134.35 %
• Share of holdings for which the tax holding period has expired: 98.55 %.
• Crypto share of the total portfolio: 2.20 %

The sale of the tranche explains the decline in the crypto share from 2.6% to 2.2%

As a "follower" of the crypto cycle, I am increasingly accepting the idea that the cycle is still in tact, but is expanding. The reason for this should be the ETF purchases and the activities of the crypto treasury companies. Retail still seems to be asleep. The playing field is very exciting, if only from a macroeconomic perspective. I can only advise looking into the cycle and issues such as money creation and the correlation between the M2 money supply and $BTC. Although I am not a fan of cryptocurrencies, I think they are a sensible component of a balanced portfolio.

Performance comparison: portfolio vs. benchmarks

A comparison of my portfolio with two important ETFs shows

• TTWROR (current month): +1,01 %
• $VWRL (-2,71%) : -0,33 %
• $VUSA (-3,84%) : -1,13 %

Outlook and a private bonus

My Carousel posts of the portfolio review and budget review always start on the hook slide with a background image from my month. These are usually places I've visited or moments that have moved me. This time it's the same, although a CT scan would almost be more appropriate.

A chest CT confirmed what I had been wondering about for some time: my ascending aorta is dilated. This is a consequence of my congenital heart valve defect. Fortunately, it was discovered early before it could develop into an aneurysm, dissection or even rupture. A classic chance discovery, a stroke of luck. I was able to keep the heart valve "in check" for a long time, and fortunately there are currently no worse findings for it. But the diagnosis of the ascending aorta now brings certainty: an operation will certainly be necessary at some point.

Why am I sharing this here? Because it has taught me humility once again. The diagnosis isn't nice, but it's not a surprise either. Perhaps my v. A. more active lifestyle since corona has contributed to the fact that it is stable today and still allows me to do a lot: sporting activity, which I have fought my way back over the years. The restrictions that already apply to avoid pressure peaks on the aorta are minimal. My quality of life is still very high.

My conclusion: Keep fit, go for check-ups and take your body seriously. Invest in your health and fitness. Our deposits are only worth as much as our health allows us to enjoy them.

So I will be able to visit the cardiologist and radiologist even more regularly in future, an honor! (irony off). Everything will be fine!

👉 You want my review as an Instagram post?

Then follow me on Instagram:

📲 In addition to the portfolio and extra budget review, you'll also find regular posts there: @frugalfreisein

Please pay close attention to the spelling, unfortunately there are too many fake and phishing accounts on social media. I have already been "copied" several times.

👉 How was your August at the depot? Do you have any tops and flops to report?

Leave your thoughts in the comments!

$CPNG (-4,08%)
$NFLX (-2,08%)

Netflix continues to dominate the South Korean online video or over-the-top (OTT) streaming market, but Coupang Play gained over 300,000 new users last month, driven by live broadcasts of major international sporting events such as the Premier League.

According to app analytics firm Wiseapp Retail Goods on September 3, the number of Coupang Play's monthly active users (MAU) reached 7.73 million in August, an increase of 330,758 from the previous month's 7.39 million. This puts Coupang Play in second place among all OTT service providers operating in South Korea, second only to Netflix with 14.57 million users.

Data from the Mobile Index of the data tech company IGAWorks also showed growth: Coupang Play recorded 7.29 million MAUs in August, an increase of 6 percent compared to 6.89 million in the previous month.

Coupang Play attributed the increase to exclusive sports content and the popularity of the second season of its original series "Office Workers". The platform streamed exclusive coverage of the English Premier League, which launched last month, as well as other major European soccer leagues and Formula 1. In September, the platform will further expand its MAUs by streaming every game of the 2025 National Football League (NFL) season, starting with the Dallas Cowboys vs. Philadelphia Eagles game on September 5.

The battle for second place behind Netflix between Coupang Play and Tving remains fierce. According to the Mobile Index, Tving was ahead in August with around 275,000 MAUs. However, according to Wiseapp Retail Goods data, Coupang Play was ahead of Tving with around 1.83 million more MAUs.

https://www.businesskorea.co.kr/news/articleView.html?idxno=251127

Coupang ( CPNG 8.94 % ) has many similarities with Amazon . The company is revolutionizing e-commerce in South Korea and Taiwan, where it is also showing strong growth potential outside its home market of Korea. It may seem difficult for another e-commerce giant to rise in Amazon's shadow, but Coupang has advantages.

Coupang's sales rose by 62% to 32 billion US dollars in the last twelve months. In the second quarter, quarterly sales rose by 19% year-on-year in constant currency. The company's profitability also continues to develop positively: gross profit, operating profit and earnings per share increased compared to the same quarter last year. Strong financial results have caused the share price to rise by 30% since the beginning of the year.

This growth reflects the consistent expansion of the product range and automation to improve delivery speed. The company offers same-day delivery of a huge selection of products to millions of customers in densely populated cities, giving it a competitive advantage.

One business area with great growth potential is supply growth. This includes food delivery and streaming entertainment. Sales of these products increased by 33% year-on-year - significantly faster than product sales. This shows that more and more customers are continuing to spend more at Coupang after initially purchasing products via the e-commerce business.

In addition, management pointed out in the last earnings report that development offerings in Taiwan are growing faster than expected. This is a good sign that the company's business model could penetrate more markets outside South Korea, where it can be successful and bring returns to shareholders.

Coupang is essentially becoming the default app that 24 million active customers rely on to buy goods, food and digital entertainment. The app's continued track record of high double-digit growth rates and promising international expansion potential could make it a big winner for investors in the long term.

Midsummer should be in full swing in July, but summer prefers to take a breather. While the temperatures outside were rather cool for most of July, which fortunately didn't keep me from swimming and hiking, it was hot in the depot. Time for a look back.

Overall performance

In July, the portfolio made a significant leap upwards, possibly due to further crypto adoption, good labor market data, robust quarterly reports and a further decline in inflation in a positive environment. The big icing on the cake is of course the continued incoming cash flow from dividends and distributions. My key performance indicators are:

• TTWROR (month of July): +3.82 % (previous month: +0.19 %)
• TTWROR (since inception): +72,72 %
• IZF (month of July): +46.14 % (previous month: 2.47 %)
• IZF (since inception): +10,87 %
• Delta: +€2,468.62
• Absolute change: +€3,677.52

Performance & volume

Size of individual share positions by volume in the overall portfolio:

• Share: Share of total portfolio in % (securities account)
• $AVGO (-7,17%) 2.98 % (main share portfolio)
• $NFLX (-2,08%) 1.92 % (main share portfolio)
• $WMT (-0,92%) 1.72 % (main share portfolio)
• $FAST (-2,72%) 1.64 % (main share portfolio)
• $SAP (-3,86%) 1.49 % (main share portfolio)

Smallest individual share positions by volume in the overall portfolio:

• Share: Share of total portfolio in % (custody account)
• $SHEL (-3,05%) : 0.44 % (crypto follow-on portfolio)
• $NOVO B (-3,44%) 0.45 % (main share portfolio)
• $HSBA (-0,78%) 0.53 % (crypto follow-on portfolio)
• $GIS (-0,54%) 0.60 % (main share portfolio)
• $TGT (-4,66%) 0.64 % (main share portfolio)

Top-performing individual stocks

• Share: Performance since first purchase % (securities account)
• $AVGO (-7,17%) +299 % (main share portfolio)
• $NFLX (-2,08%) +174 % (main share portfolio)
• $FAST (-2,72%) +86 % (main share portfolio)
• $SAP (-3,86%) : +83 % (main share portfolio)
• $MAIN (-4,69%) +82 % (main share portfolio)

Flop performer individual shares

• Share: Performance since first purchase % (securities account)
• $GIS (-0,54%) -33 % (main share portfolio)
• $TGT (-4,66%) -30 % (main share portfolio)
• $NOVO B (-3,44%) -27 % (main share portfolio)
• $UPS (-3,46%) -24 % (main share portfolio)
• $CPB (+0,85%) -23 % (main share portfolio)

Asset allocation

My asset allocation is as follows:

• ETFs: 38.3 %
• Equities: 59.0 %
• Crypto: 2.60%
• P2P: less than 0.01%

Investments and subsequent purchases

Here is a small overview of what I have invested via savings plans according to my fixed planning.

• Planned savings plan amount from the fixed net salary: €1,030
• Planned savings plan amount from the fixed net salary, incl. reinvested dividends: €1,140
• Savings ratio of the savings plans to the fixed net salary: 49.75

In addition, there were the following additional investments from returns, refunds, cashback, etc. as one-off savings plans/repurchases:

• Repurchases/one-off savings plans as cashback annuities from refunds: € 70.77
• Subsequent purchases from other surpluses: € 135.00
• Automatically reinvested dividends by brokers: € 4.04 (Function is only activated for an old custody account, as I control the reinvestment myself)

Additional purchases were made:

• Number of additional purchases: 3
• 61.96 € for $SPYD (-1,81%)
• 
  58.00 € for $GGRP (-2,39%)
• 
  90.00 € for $JEGP (-2,16%)

If you want to know how my cashback pension tops up my share and ETF pension, please let me know.

Passive income from dividends

My income from dividends amounted to € 222.47 (€ 93.27 in the same month last year). This corresponds to an increase of +138,52 % compared to the same month last year. The following are further key figures on the distributions:

• Number of dividend payments: 28
• Number of payment days: 12 days
• Average dividend per payment: € 7.95
• average dividend per payment day: € 18.54

The top payers are:

• $ISPA (-2,02%)
• 
  $VWRL (-2,71%)
• 
  $VHYL (-2,37%)

My passive income from dividends (and some interest) mathematically covered 27.12% of my expenses in the month under review.

Crypto performance

My crypto investments have also moved:

• Monthly performance portfolio: +9.49
• Performance since inception: +114.72 %
• Proportion of holdings for which the tax holding period has expired: 98.55%. Accordingly, there was one subsequent purchase in the month under review $ADA (+1,82%) ).
• Crypto share of the total portfolio: 2.60 %

Crypto remains exciting for me. Due to many external influences (ETF inflows, treasury companies, Genius and Clarity Act, ...), the question arises as to whether the cycle theory is beginning to falter. Or not? Will it be different this time?

Performance comparison: portfolio vs. benchmarks

A comparison of my portfolio with two important ETFs shows:

• TTWROR (current month): +3,28 %
• Vanguard FTSE All World Dist ETF: +5.23 %
• Vanguard S&P 500 Dist ETF: +6.41 %

Outlook and conclusion

Crypto remains exciting for me. Due to many external influences (ETF inflows, treasury companies, Genius and Clarity Act, ...), the question arises as to whether the cycle theory is beginning to falter. Or not? Will it be different this time?

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Company portrait

Performance

International growth

General strategy

Own productions

Competition

Account sharing

Password sharing

Advertising-financed

subscription models

Quarterly figures

Outlook

Link: https://shorturl.at/9iG0y

$NFLX (-2,08%)

The start of summer in June combined sport and leisure for me. By that I mean swimming, hiking, running and sport at home. Apart from the incoming dividends, I hardly noticed anything on the stock market. It was not the strongest distribution month due to the postponement of three distributions, but it was still a very strong one. Time for a review.

Overall performance

The portfolio tended to tread water in June, but that is no cause for concern. Bit by bit, it is fighting its way out of the lows of the customs conflict. And cash flow continues to be generated by distributions to the clearing accounts. The key performance indicators are:

• TTWROR (month of May): +0.19 %
• TTWROR (since inception): +65,45 %
• IZF (month of May): +2.47 %
• IZF (since inception): +10,21 %
• Delta: +€148.63
• Absolute change: +1,173.63 €

Share allocation & performance

Which shares performed particularly well in June? Which are at the top and which at the bottom of the rankings? Which were the biggest losers?

Size of individual share positions by volume

• Share: Share of total portfolio in % (securities account)
• $AVGO (-7,17%) 2.78 % (main share portfolio)
• $NFLX (-2,08%) 2.20 % (main share portfolio)
• $WMT (-0,92%) 1.71 % (main share portfolio)
• $SAP (-3,86%) 1.59 % (main share portfolio)
• $FAST (-2,72%) 1.55 % (main share portfolio)

Smallest individual share positions by volume:

• Share: Share of total portfolio in % (securities account)
• $SHEL (-3,05%) 0.44 % (crypto follow-on portfolio)
• $HSBA (-0,78%) 0.54 % (crypto follow-on portfolio)
• $TGT (-4,66%) 0.62 % (main share portfolio)
• $GIS (-0,54%) 0.63 % (main share portfolio)
• $CPB (+0,85%) 0.64 % (main share portfolio)

Top-performing individual shares

• Share: Performance since first purchase % (securities account)
• $AVGO (-7,17%) : +261 % (main share portfolio)
• $NFLX (-2,08%) : +198 % (main share portfolio)
• $SAP (-3,86%) +106 % (main share portfolio)
• $WMT (-0,92%) : +68 % (main share portfolio)
• $RSG (+1,23%) +47 % (main share portfolio)

Flop performer individual shares

• Share: Performance since first purchase % (securities account)
• $DHR (-1,97%) -57 % (main share portfolio)
• $CPB (+0,85%) -42 % (main share portfolio)
• $TGT (-4,66%) -37 % (main share portfolio)
• $GIS (-0,54%) -36 % (main share portfolio)
• $NKE (-4,98%) -30 % (main share portfolio)

ETFs vs. shares

The breakdown of ETFs vs. shares across all portfolios is 38.7% to 61.3%. This differs from the breakdown of my ETFs to equities savings plans (43% to 57%). Equities have performed better, which is due to the fact that I also include high-dividend ETFs in the ETFs.

Investments and additional purchases

Here is a brief overview of what I have invested in savings plans according to my fixed planning.

• Planned savings plan amount from the fixed net salary: €1,030
• Planned savings plan amount from the fixed net salary, with reinvested dividends: €1,140
• Savings ratio of the savings plans to the fixed net salary: 49.75

In addition, there were the following additional investments from returns, refunds, cashback, etc. as one-off savings plans/repurchases:

• Subsequent purchases/one-off savings plans as cashback annuity from refunds: € 32.32
• Automatically reinvested dividend by broker: € 7.25 (Function is only activated for an old custody account, as I want to control the reinvestment myself)

Additional purchases were made from other surpluses:

• Number of additional purchases: 2
• 25.00 € for $FGEQ (-2,87%)

There were no additional purchases from the components of my cashback pension (e.g. reimbursements from health insurance premiums, insurance premiums, shopping vouchers, etc.) this month.

If you would like to know how my cashback pension supplements my equity and ETF pension, please let me know.

Passive income from dividends

My income from dividends amounted to € 152.30 (€ 179.04 in the same month last year). This corresponds to an increase of -14.94 % compared to the same month last year. The following is further key data on the distributions:

• Number of dividend payments: 31
• Number of payment days: 15 days
• Average dividend per payment: € 4.91
• average dividend per payday: € 10.15

The top payers are:

• $VNA (+0,52%)
• 
  $ARCC (-1,33%)
• 
  $TDIV (-1,89%)

My passive income from dividends (and some interest) mathematically covered 15.91% of my expenses in the month under review.

Crypto performance

My crypto investments also moved a little:

• Monthly performance portfolio: +3.81 %
• Performance since inception: +79.49 %
• Proportion of holdings for which the tax holding period has expired: 100%. This means that there have been no additional purchases for over a year.
• Crypto share of the total portfolio: 2.19 %

I find the topic exciting, but it is very underrepresented in my overall portfolio due to my passive income strategy. The first profits have already been realized and more will definitely follow. For me, crypto is a lever to turn play money into even more play money, which is then put into the solid distributors to make the income snowball grow bigger and bigger. New accumulation will take place in the coming bear market.

Performance comparison: portfolio vs. benchmarks

A comparison of my portfolio with two important ETFs shows:

• TTWROR (current month): +0.19 %
• $VWRL (-2,71%) : +0.39 %
• $VUSA (-3,84%) : +1.24 %

Outlook and conclusion

I'm using the summer, which has already begun, not only for hiking, but also for city trips for my "non-financial" TikTok and Insta channel. I can often be found at one of the lakes near Leipzig, which were once created from the open-cast mining pits of the brown coal era. It's nice that the lunar landscapes have become a local recreation area. That's why I'm less active at the moment. That will certainly change again in the fall.

For now, I'm just enjoying life, and my money continues to work stubbornly and steadily for me in the background. Current events in the world and in politics don't interest me in the slightest. As I write this review, the first third of the summer will soon be over.

👉 You want my review as an Instagram post?

Then follow me on Instagram:

📲 You'll find regular posts there as well as the portfolio and budget review: @frugalfreisein

How did your June at the depot go? Do you have any tops & flops to share? Leave your thoughts in the comments!