#63 Investment Journal - Ep.5
Concentrating my portfolio
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Portfolio Update
In my last Investment Journal post, I revealed my entire stock portfolio, which consisted of 67 stocks. At that time, I also planned to concentrate my portfolio further. To achieve that, I have sold 27 positions over the last two months. My portfolio still contains 40 stocks, which may seem like a lot, but it's becoming increasingly difficult to decide what to sell and what to keep. However, I must admit that I feel pretty good about my decisions to further reduce my holdings and decrease my "over-diversification."
I will list my sales, and perhaps for some you will think, "Why did he sell that?" For some of them, I will write a short explanation; for others, I will leave it as is. Please note that many of these positions had a relatively small weighting in my portfolio.
I sold:
SoFi - I sold this stock for a significant gain. It had performed incredibly well since I bought it just a couple of months ago, and it surged dramatically after the U.S. election due to hopes of less regulation for fintech companies. I still like the company, but I believe the stock is now overvalued. I will keep it on my watchlist.
Dominos Pizza
Jeronimo Martins
Stellantnis - I sold this stock at a loss, even though I still believe it is undervalued. However, the car industry is currently struggling significantly, and I see better opportunities elsewhere. So, I decided to reallocate the cash.
Target - I sold this stock at a loss. Target has struggled a lot, and while I am also invested in Walmart—which has had an incredible run and is performing very well, not just the stock but also in terms of business development—I prefer Walmart a lot.
Iberdrola
TotalEnergies
Costco - I sold my small position in Costco. While it's a great business, I believe the stock is really expensive.
KION
Carl Zeiss Meditec
Enel
Public Storage
Caterpillar
Cisco Systems
Starbucks - I really like the business, but I believe even the new CEO will face significant challenges in returning it to meaningful growth. While it might achieve low, mid-single-digit growth, I don’t expect much beyond that. Given this outlook, the stock seemed overpriced to me. I sold it for a very small profit.
Meta Platforms - This was just a small position in my portfolio, which I sold for a substantial profit. However, I believe the stock is now significantly overvalued. I’ve explained my reasoning here:
CVS Health
Deere & Co.
Carrefour
PayPal
Nike - Nike is facing challenging times right now, and even from a mid- to long-term perspective, I believe there are many better opportunities available.
Rheinmetall
Danaher
Canadian National Railway
Adobe
S&P Global
Heidelberg Materials
Most of the companies I sold were smaller positions, though some of them are truly great and outstanding businesses. However, many appeared overvalued. If you're curious about any specific ones, feel free to ask in the comments—I’d be happy to share my thoughts!
Paid subscription and posts
I’ve decided to permanently reduce the price of my paid subscription to the minimum amount of $5 per month. This isn’t a Black Friday deal or a limited-time offer—it’s a lasting change, at least for now. If you enjoy the content and would like to support me, I’d be thrilled and deeply grateful. If not, you’re more than welcome to continue enjoying the free content. Currently, there are just two paid posts available (Expedia and SoFi Technologies).
Post pipeline
Currently, I have the following posts planned. I typically aim to publish at least once a week.
The Walt Disney Company - Part 5
Jumbo S.A.
Realty Income
Deere & Co
Caterpillar
JP Morgan Chase
Allianz SE
Uber Technologies
Posts since my last Investment Journal Episode
Since my last Investment Journal episode, I’ve published numerous articles. Here’s the full list:
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Disclaimer: The information provided in this publication is for educational and informational purposes only and does not constitute financial advice. The content is solely reflective of my personal views and opinions based on my research and is not intended to be used as a basis for investment decisions. While every effort is made to ensure that the information is accurate and up-to-date, the writer makes no representations as to the accuracy, completeness, suitability, or validity of any information in this post and will not be liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use. All readers are advised to conduct their own independent research or consult a professional financial advisor before making any investment decisions.