I'm tired of waiting it out. $APP (+5,92%) Sold and $VALU (-0,19%) invested. -59%, but fortunately only 0.3% of the portfolio. All small positions are being closed.

In February 2025, I pulled the plug. After my Sparkasse funds had barely moved in 4–5 years, I bought my very first stock with just a few euros and zero prior knowledge. It was the best decision ever!

Since then, I’ve been consistently investing €1,300 every month and selecting my own positions entirely on my own.

My milestones (all reached well ahead of schedule!):

🎯 25K: June 25

🎯 40K: Oct. 25

🎯 60K: May ’26

🏆 Current: €70,000 in September ’26!

I’ve now earned over €15,000 in pure returns, and the feeling is simply indescribable. My goal for the end of this year (12/26) was 70K—I’ve already surpassed that. Let’s see if I can hit 80K before the year is out!

My portfolio:

I currently hold 25 positions (24 individual stocks + Bitcoin). Every month, I decide anew how to allocate the €1,300 among these holdings. My ultimate goal: financial freedom.

Question for you:

1️⃣ What do you think of a 100% stock-picking strategy with 24 stocks? Does it become too much work once you hit 100K, or do you stick with it?

2️⃣ I’m thinking about adding a new position in $APP (+5,92%) . What’s your take on the company right now?

Looking forward to your feedback! 👇 #Milestone #StockPicking #FinancialFreedom #ByeByeSparkasse

In August, gold mines were the market's top performers. In September, they were the most expensive. Fresnillo
$FRES (+0,87%) down 15 percent, Micron
$MU (+1,5%) up 17. At the end of the month, the Wikifolio was up 1.03 percent, and one day later, I swapped out 18 of 30 positions.

September was all about interest rates and oil. Brent rose above $100 in the second week and, following a Saudi pipeline outage, briefly hit $110. U.S. inflation stood at 3.4 percent in August. On September 16, the Fed raised the benchmark interest rate by a quarter point to 3.75 to 4.00 percent, for the first time since July 2023. The 10-year U.S. yield subsequently climbed to 5.19 percent, a level last seen in 2007. This hardly bothered tech stocks. The Nasdaq hit a record high on September 21, and AMD has been worth one trillion dollars ever since. The situation was different in Europe. German inflation jumped to 3.3 percent, and the DAX lost about four percent over the month.

📊 Monthly performance: +1.03%

📊 Price as of September 30: €117.97

📊 Largest loss since inception: −14.6%

📊 Max performance: +18% (since March 13, 26)

Next rebalancing: Early January 2027

Performance & Comparison 🚀

The U.S. indices posted clear gains when calculated in euros, with the Nasdaq leading the way. The Wikifolio did not keep pace. It lagged behind the Nasdaq, S&P 500, and FTSE All-World, and outperformed only the DAX.

Performance Comparison (September 1–30, 2026, end of day):

Global Quant 6-Factor: +1.03%

NASDAQ 100: +4.18%

S&P 500: +2.90%

FTSE All-World: +1.95%

DAX: −4.07%

You can see what caused this in the two lists below. Tech stocks delivered, while mining stocks and a few individual stocks ate up a good chunk of those gains.

Purchases & Sales 💶

None in September itself. The model trades only on four dates per year, and the third was on October 1. What happened then is detailed in its own section below.

Top Movers in September 🟢

The month belonged to semiconductors and memory stocks. Midway through the month, Intel’s CEO said the company could currently only meet about half of the demand for processors. After that, the entire industry picked up steam. Micron
$MU (+1,5%) topped the list with +16.91%, followed by SanDisk
$SNDK (-1,61%) at +13.90% and TSMC
$2330 at +11.85%. Lam Research
$LRCX (-3,49%) rose +11.12%, ASML
$ASML (-0,26%) +10.06%. In between is Comfort Systems $FIX (-4,17%) , a stock that has nothing to do with chips, up 10.47%. In August, Comfort Systems was still among the losers.

September’s Big Losers 🔴

Gold and silver declined in September, with silver falling much more sharply. Rising yields and a stronger dollar weighed on prices. Mining stocks followed suit. Fresnillo
$FRES (+0,87%) lost −14.53%, Coeur Mining
$CDE (+1,94%) −10.65%, and Endeavour Mining $EDV (+4,71%) -7.50%. In August, all three were still on the other list with gains of over 25 percent. Merlin Properties fell −8.98%, Airtel Africa
$AAF (+2,33%) down 7.76%, and Interactive Brokers
$IBKR (+0,62%) fell by 6.79%.

Rebalancing on October 1 🔄

On October 1, the third rebalancing since the start took place. I swapped out 18 of 30 positions—more than ever before. In July, it was nine.

All nine banks are out: Bankinter
$BKT (-0,11%) , CaixaBank
$CABK (-0,04%) , BBVA
$BBVA (+0%) , UniCredit
$UCG (-1,09%) , BPER
$BPE (-0,43%) , Monte dei Paschi $BMPS (+0,09%) , Banca Mediolanum
$BMED (+0,24%) , Swedbank$SWED A (-1,49%) and HSBC
$HSBA (-0,84%) . In addition, Interactive Brokers $IBKR (+0,62%) , Antofagasta $ANTO (-2,52%) , Coeur Mining
$CDE (+1,94%) , AppLovin
$APP (+5,92%) , Airtel Africa
$AAF (+2,33%) , Merlin Properties and Solaria
$SLR (+0,55%) . Investor AB
$INVE B (-0,05%) and Pershing Square
$PSH (-1,11%) are also no longer in the portfolio. So four of the six underperformers listed above are no longer in the portfolio.

Six stocks from the healthcare sector were added: Eli Lilly
$LLY (+2,64%) , Bristol-Myers
Squibb
$BMY (+1,66%) , Vertex $VRTX , Incyte
$INCY (+0,95%) , Illumina
$ILMN (-1,97%) and WuXi AppTec
$603259 . Five are from the semiconductor and storage sectors: Seagate
$STX (-4,72%) , Marvell
$MRVL (-2,04%) , Applied
Materials
$AMAT (-4,16%), Teradyne
$TER (-5,02%) and KLA
$KLAC (-3,88%) . The rest is split among Fortinet
$FTNT (-1,72%) , CF Industries
$CF (-0,3%) , Marathon Petroleum
$MPC (-2,7%) , APA
$APA (-1,2%) , Pop Mart $9992 (-2,97%) , Hong Kong Exchanges
$388 (-0,44%) and Lion Finance
$BGEO (-2,62%) .

Twelve remain: SanDisk, Micron, Western Digital, Nvidia, Lam Research, TSMC, ASML, Alphabet, Comfort Systems, Fresnillo, Endeavour and Newmont. All six of September’s top movers are included.

Two names stand out. Applied Materials and KLA I sold on July 1, up 92 and a gain of 90 percent. Now both are back in my portfolio. The model doesn’t remember what it has sold in the past. It only looks at where a stock stands in the ranking today.

Conclusion 💡

The portfolio looks different after October 1 than it did before. In September, about 41 percent was still in financial stocks; now there are two positions out of 30. Instead, 12 out of 30 are in semiconductors and memory, and six are in the healthcare sector. There’s no sector limit; the model sorts by score, not by industry. Trading won’t resume until early January.

How was your September? And did you hold onto your stocks after the pullback, or did you sell them? 👇

➡️ Every month, you’ll find the complete Wikifolio update here, along with research in between.

📈 Wikifolio $DE000LS9V052 (-0,77%)

SanDisk $SNDK (-1,61%) up 28 percent, Western Digital $WDC (-2,94%) down 18 percent. Both in the same sector, in the same month. My model didn’t react to either of these movements, yet at the end of the month it was still up 3.03 percent.

August had two sides. At the beginning of the month, mild inflation data was released, and the S&P 500 hit an all-time high of 7,816 points on August 13. After that, sentiment on the bond markets shifted. The 30-year U.S. yield rose to its highest level in nearly twenty years, and U.S. gross debt exceeded forty trillion dollars. At the end of the month, Nvidia reported $NVDA (-2,34%) quarterly revenue of 96.2 billion, an increase of 106 percent. The next day, Fed Chairman Warsh signaled a pause in Jackson Hole, and the market priced in an interest rate hike in September.

📊 Monthly performance: +3.03%

📊 Max. Performance: 16.1%

📊 Price as of Aug. 31: €116.85

📊 Next Rebalancing: October 1, 2026

Performance & Comparison 🚀

August was a positive month for all major indices. The Nasdaq led the way, driven by Nvidia. The model performed in the middle of the pack and outperformed the broad indices.

Performance Comparison (August 1–August 31, 2026, end of day):

Global Quant 6-Factor: +3.03%

NASDAQ 100: +3.57%

S&P 500: +2.74%

FTSE All-World: +2.27%

DAX: +2.03%

Purchases & Sales 💶

None. The model trades only quarterly; the last rebalancing took place on July 1. Nothing happens between those dates, even if individual positions diverge significantly. That is precisely the point of the rules. The next rebalancing is scheduled for October 1, when a larger portion of the portfolio will be replaced.

Top Movers in August 🟢

The month belonged to gold mining stocks. Over the course of the month, gold rose at times to nearly $4,700, reaching its highest level since May. By the end of the month, it had given back some of those gains. The move was driven by a weaker dollar combined with ongoing central bank purchases. Mining stocks react to this with leverage because their margins rise disproportionately. Coeur Mining $CDE (+1,94%) topped the list with +35.68%, followed by Newmont $NEM (+3,89%) at +33.60% and Endeavour Mining at +28.33%. Fresnillo $FRES (+0,87%) rose +26.63%. All four have been in the portfolio since the spring. In addition, the storage stocks performed well. SanDisk $SNDK (-1,61%) rose by +28.07%, and Micron $MU (+1,5%) by +12.50%.

August’s Biggest Losers 🔴

AppLovin $APP (+5,92%) suffered the biggest loss at -20.78%. Western Digital $WDC (-2,94%) fell -18.77%, while SanDisk gained nearly thirty percent over the same period. Comfort Systems $FIX (-4,17%) fell by -13.00%, and Merlin Properties $MRL (-7,15%)
-9.79%. Among financial stocks, the decline was limited; HSBC $HSBA (-0,84%) lost -5.05%. Alphabet $GOOG (-0,29%) fell -4.18%.

Conclusion 💡

August demonstrated the value of a diversified portfolio. While technology stocks diverged and AppLovin fell 20 percent, gold mines carried the month. None of these positions are in the portfolio based on personal opinion; they’re there because the ranking placed them at the top. October 1 will be interesting because a large portion of the commodity stocks are on the sell list.

❓ Question for the Community

Did the volatility in August make you get cold feet, or did you stubbornly hold onto your positions? And how much gold do you currently have in your portfolio?

👇 Let us know in the comments!

➡️ Every month, you’ll find the full Wikifolio update here, along with research from the model in between.

🗞️ Newsletter: codeandcapitalquant.beehiiv.com

📈 Wikifolio: https://www.wikifolio.com/de/de/w/wf0gquant6

$DE000LS9V052 (-0,77%)

Here's the hot stuff from AppLovin Corporation
$APP (+5,92%) (NASDAQ: APP) Q2 2026 Earnings Release, delivered fresh on August 5, 2026, after the U.S. market closed:

🚀 Top-Line Performance & AdTech Boost

The U.S. specialist in AI-powered advertising and app monetization platforms continued its growth trajectory in the second quarter of 2026, though its revenue fell just short of Wall Street’s sky-high expectations:

Total revenue: Climbed by +38% YoY to $1.92 billion (compared to $1.39 billion in the same quarter last year; within the company’s own guidance range of $1.915–$1.945 billion, but just below the consensus estimate of $1.94 billion).

Growth drivers: The ongoing scaling of the AI recommendation engine AXON continues to ensure high advertising efficiency and attract budget from app developers and e-commerce clients.

🔮 Profitability & Soaring Margins

In terms of net income, AppLovin is showing incredible strength and demonstrating the extremely high scalability of its software model:

Net Income: Hit the mark exactly at $1.27 billion.

Pre-Tax Income: Came in at $1.51 billion and significantly exceeded expectations of ~$1.49 billion.

Adjusted EBITDA: Reached $1.61 billion with its usual massive margin in the range of ~84–85%.

🤖 Financial Results & Initial Market Reaction

Cash on hand: Ended the quarter with $3.05 billion in cash and cash equivalents.

Market reaction: Following the stock’s massive rally ahead of the earnings release, market participants reacted in after-hours trading with some profit-taking (~ -7% in after-hours trading), as revenue growth narrowly missed the sometimes extremely bullish consensus estimates.

⚡ 💡 Jack’s Take

AppLovin remains an absolute cash cow in the ad tech landscape! The AXON AI engine continues to drive double-digit growth rates (+38%) with an operating EBITDA margin of just under 85%. The fact that the stock is giving up some ground in after-hours trading is simply due to Wall Street’s extremely high standards. For those betting on highly profitable AI monetization, this stock continues to deliver top-notch fundamentals!

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$OKLO

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Hello my dears,

inspired by the wallstreetOnline article contained in the post, I have sent Juan to AppLovin $APP (+5,92%) to AppLovin.

I myself am invested in AppLovin and will remain invested. Because I see the sell-off here as unjustified due to the fear that software is endangered by AI. Personally, I see the sell-off more as an opportunity.

I have already made and seen several company presentations, but such a green profit flow chart I have only seen very rarely.

Margins that make the margin king burst into tears of joy.

(@Get_Rich_or_Die_Tryin )

All good reasons for me to stay invested.

The company is repeatedly burdened by short-seller reports, but these have never been confirmed so far.

Therefore, the share requires good nerves, but on balance has given me a lot of pleasure so far.

How do you see the share, is it too volatile for you, or do you think now is a good time to buy?

AppLovin can look back on a spectacular performance. In 2024, the share price exploded by over 700% and finally peaked at almost USD 750 in 2025, making the company the top performer in the S&P 500 at times. The driving force behind this success is a highly efficient software platform. It uses artificial intelligence to bring advertisers and app developers together and display advertising in mobile games so precisely that profits and sales increased massively.

The crash - Serious allegations of fraud by CapitalWatch

The euphoria came to an abrupt end with a report by short seller CapitalWatch. In it, the major shareholder Hao Tang was accused of being involved in financial fraud and money laundering with links to criminal syndicates in South East Asia. AppLovin was even described as a money laundering machine. These massive accusations deeply unsettled investors. Fearing criminal involvement, capital fled and the share price plummeted by around 50% from its high.

The turnaround - apology and share price jump

However, CapitalWatch rowed back. In a public apology on the X platform, the short seller admitted that the alleged links between Hao Tang and criminal organizations were false, including the incorrect attribution of a court ruling. CapitalWatch officially withdrew the passages about Tang, even though the financial structure continues to be viewed critically. The stock market breathed a sigh of relief as the worst-case scenario was off the table and the share price immediately shot up by over 13%.

AppLovin bounces up to 523$ after figures - but then this happens!

AppLovin exceeds expectations in terms of turnover, profit and margin. After a weak start to the year, investors sense a turnaround. The share initially explodes in the post-market, then gives up all its gains and is now in the red.

Revenue in the first quarter of the 2026 financial year climbed by 59% to 1.84 billion US dollars. Adjusted, AppLovin earned 3.56 US dollars per share. According to FactSet had only expected revenue of USD 1.77 billion and USD 3.49 per share.

The operating margin had an even stronger impact: adjusted EBITDA rose by 66 percent to 1.56 billion US dollars, with a margin of 85 percent.

This is where the real share price driver lies. AppLovin shows that its AI-based advertising platform continues to grow highly profitably. The company is forecasting revenue of USD 1.92 to 1.95 billion for the current second quarter. Adjusted EBITDA is expected to reach 1.62 to 1.65 billion US dollars.

Shareholders are also receiving a positive signal: AppLovin bought back 2.2 million of its own shares for 1 billion US dollars in the quarter.

The share price on the Nasdaq went on a veritable rollercoaster ride after the close of trading: At times it rose by around 12 percent to USD 523, but then slumped again to USD 447, before recovering to USD 500 and is currently trading slightly down at USD 467.18 per share (as of 06:55 CEST).

However, the story is not entirely free of shadows. The shares ended the first quarter down 44 percent, the biggest decline in the S&P 500. Since the beginning of the year, they had fallen 30.4 percent by Wednesday, but were still up 54.5 percent over 12 months. Reports of an SEC investigation and short-seller attacks had weighed on confidence.

The new figures now deliver what investors wanted to see: Growth, margin, outlook and buybacks. For AppLovin, this could be the moment when skepticism turns back into fantasy.

AdTech-Unternehmen: AppLovin knallt nach Zahlen auf 523$ hoch – doch dann passiert das! | wallstreetONLINE - 07.05.2026

Juan's conclusion on the key financial figures (AppLovin 2025-2028)

(short, clear, investor-focused - just the way you want it from Juan)

"AppLovin delivers a picture-book financial profile: explosive economies of scale, increasing profitability and virtually debt-free from 2025. Revenue is growing at a strong double-digit rate across the board, but the really impressive thing is the operating leverage: EBIT and net profit are growing faster than revenue every year. Margins are at a level rarely seen in the software sector - EBIT margins of over 75% and FCF margins of over 70% are absolutely exceptional. Free cash flow continues to grow steadily and remains the key value driver. The ROE is extremely high, but falls as expected with increasing net liquidity - without weakening the investment story. Overall, AppLovin is a highly profitable, capital-light model with clear visibility and strong cash conversion. A premium setup for long-term investors."

"AppLovin is on fire: strong growth, crazy margins, endless cash. Debt-free from 2025, ROE in overdrive. This is high-performance software economics - clean, scalable, brutally efficient."

Market value 157,404

Number of shares (in thousands) 335,950

Date of publication 11.02.2026

Juan's conclusion on the valuation ratios (hoodie edition)

*"AppLovin's valuation looks like a textbook case of a high growth player slowly slipping into the 'respectable' valuation zone. FCF yield is rising every year like a clean level-up skill tree - from almost nothing to over 6%. The P/E ratio is simultaneously falling from lunar levels to something you can actually build into a model without a headache.

The P/B ratio? Initially completely absurdly high, but it normalizes every year as equity finally catches up. And the PEG below 1 from 2026 - that's basically the hoodie-thumb-up moment for growth investors.

In short, the valuation is getting cheaper while the business is getting stronger. That's the kind of setup that makes me pull my hoodie a little tighter and say, 'Yeah, that's a really good price/power ratio'. "*

⭐ Overall tenbagger score: 41 / 45

→ Extremely strong profile
→ High-quality compounder
→ Scalable, profitable, becoming more favorable
→ Tenbagger candidate absolutely realistic in the next 5-7 years

Juan's brief summary of the Tenbagger matrix (hoodie style)

"This is one of those rare cases where growth, margins and valuation all point in the same direction. AppLovin is like a high-performance engine that runs more efficiently every year and gets cheaper at the same time. If you're looking for a structural tenbagger - this is one of the cleanest setups you'll find in the tech sector right now."

Performance

1 week +1.86 %

1 month +19.77 %

6 months -24.42 %

1 year +38.01 %

3 years +2,559.19 %

5 years +718.29 %

PRICE: € 388.85 11.05.2026 at 14:17 (@Semos25 )

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