#87 Investment Journal - Episode 7

Portfolio Update

Hey everyone,

Welcome back to my Investment Journal! This is the space where I share my personal thoughts on investing, my current portfolio moves, and the broader trends shaping the world around us — all from the perspective of someone slowly but steadily working toward financial independence.

Let’s be honest: I’m still a long way off from reaching that goal (unless, of course, the universe decides to bless me with a lottery win — but unfortunately, that’s not something I’m counting on). Until then, it’s all about staying focused, making smart decisions, and enjoying the journey.

A while ago, I published a post where I gave you a full look into my (somewhat bloated) stock portfolio. Since then, a lot has changed. I’ve spent time reassessing my positions, cutting down on holdings that didn’t fit my strategy anymore, and reallocating capital more intentionally. What used to be a list of 84 stocks has now been reduced to a much more manageable 31. I feel good about that — less clutter, more clarity.

So, in this update, I want to give you a quick snapshot of what my portfolio currently looks like. The stocks are loosely ordered by weight in the portfolio:

• Berkshire Hathaway

• JP Morgan Chase

• Microsoft

• Amazon

• Realty Income

• LVMH

• Kri-Kri

• Booking Holdings

• Alphabet (Google)

• Walmart

• Munich RE

• Allianz

• Evolution AB

• Deutsche Börse

• Uber

• American Express

• Pandora

• Visa

• Mastercard

• Kroger

• Air Liquide

• Ulta Beauty

• Procter & Gamble

• Unilever

• L’Oreal

• Eurofins Scientific

• Apple

• Lululemon

• H&M

• Jumbo S.A.

• Inditex

Each of these stocks represents something bigger to me than just a price on a screen. I like to think of myself as the holding company behind all these businesses. That mindset helps me stay grounded and view my investments as ownership in real companies, not just tradable tickers. It keeps me focused on fundamentals and long-term value instead of short-term noise — and honestly, I think that’s one of the healthiest perspectives an investor can have.

In terms of allocation, around 60% of my portfolio is currently invested in U.S.-based companies, with the remaining 40% in European stocks. I haven’t yet ventured into other parts of the world — though I’m seriously considering initiating a position in MercadoLibre, which would add some Latin American exposure. We’ll see.

Now, let’s talk a little bit about the world we live in — because it does affect how I think about investing.

On the political front — whether it’s the situation in Ukraine, the upcoming U.S. elections, or other geopolitical developments — I want to remind fellow investors of something important: Don’t let the noise throw you off. Stick to your long-term plan. Markets will always have ups and downs, crises will come and go, but discipline and consistency are what really make the difference over time.

Since the pandemic, I’ve felt a noticeable shift in how society functions. There’s this growing tendency toward extremes — whether in opinions, politics, or even just everyday conversations. Nuance seems to have taken a backseat, and it’s become harder to express differing views without immediately being put into a box or labeled in some way. That saddens me. I truly hope we can return to a place where open dialogue and understanding are possible again.

That’s all from me for now. Thanks so much to all of you for reading — and an extra heartfelt thank-you to everyone who’s subscribed, especially those of you with a paid subscription. I see you, and I truly appreciate your support. Every single one of you motivates me to keep writing and sharing.

Wishing you strong nerves, wise decisions, and a good dose of patience on your own financial journey.

Warm regards,
Bernhard
Kroker Equity Research

P.S. Below is a list of posts I’ve published since my last journal update — feel free to dive in if you missed any!

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#73 Blackrock

#74 Deutsche Boerse Group

#75 Pandora A/S - Part I

#76 Pandora A/S - Part II

#77 Pandora A/S - Part III

#78 Allianz SE - Part I

#79 Rheinmetall AG

#80 World's best stocks - Ep.7

#81 - Investment Compass Ep. 1 - 10 of the Most Famous Investors of All Time

#84 MercadoLibre - Stock Analysis

#85 Allianz SE - Part II

#86 Spotify - A revisit

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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.