"Joy reigns!" Better than the "Magnificent 7" (see p. 9)! AI wave or not, the profits below are impressive. The only drop of bitterness we see is the sale of the Bayer position; here our patience was too thin for once.
Completed transactions 2025 (as at 18.12.2025) | |||||
Share | Sold | Price | Foreign exchange | Performance | Remarks |
TEMPUS AI | 31.01.25 | 61.00 | 0.9105 | +68.7% | R4-Trading |
ROCHE | 05.02.25 | 290.00 | +14.5% | Incl. dividends | |
ACM RESEARCH | 06.02.25 | 22.50 | 0.9060 | +42.1% | |
MUSTANG ENERGY | 10.02.25 | 0.35 | 0.6360 | +47.0% | R4-Trading |
ARYZTA | 12.02.25 | 1.85 | +128.4% | ||
ARYZTA | 12.02.25 | 1.85 | +23.3% | Purchased shares | |
AMS OSRAM | 20.02.25 | 9.58 | +74.0% | Partial sale | |
CARLSBERG | 24.02.25 | 890.00 | 12.61 | +30.1% | |
RIGETTI COMPUTING | 07.03.25 | 9.35 | 0.8810 | +17.6% | R4-Trading |
RIGETTI COMPUTING | 14.03.25 | 11.00 | 0.8835 | +41.6% | R4-Trading |
IMPLENIA | 17.03.25 | 39.60 | +21.3% | ||
KRATOS DEF. & SEC. | 17.03.25 | 32.00 | 0.8830 | +30.0% | |
COLTENE | 25.03.25 | 63.60 | +24.7% | ||
BARRICK GOLD | 11.04.25 | 20.11 | 0.8165 | +18.9% | Incl. dividend |
KALI+SALZ | 29.04.25 | 14.90 | 0.9385 | -0.20% | Incl. dividends |
MEDARTIS | 02.05.25 | 75.00 | +36.1% | ||
CONMED | 12.05.25 | 61.00 | 0.8445 | +15.0% | |
BAYER | 21.05.25 | 24.00 | 0.9360 | -35.8% | Incl. dividends |
POLYPEPTIDE | 23.05.25 | 20.50 | +28.1% | ||
AMS OSRAM | 28.05.25 | 8.14 | +35.7% | Partial sale | |
SANDOZ | 28.05.25 | 40.54 | +17.5% | Incl. dividend | |
ANGLO AMERICAN | 28.05.25 | 22.45 | 1.1160 | +35.4% | |
DAIICHI SANKYO | 29.05.25 | 4000.00 | 0.5710 | +19.5% | R4-Trading |
AVOLTA | 02.06.25 | 44.50 | +42.2% | Incl. dividends | |
COMMERCE RESOURCES | 29.05.25 | 0.06 | 0.6010 | -85.0% | Perspective at ground zero! |
DOTTIKON ES | 12.06.25 | 289.00 | +42.5% | ||
URANIUM ENERGY | 16.06.25 | 7.00 | 0.8120 | +46.5% | |
NORTHERN DYNASTY | 18.06.25 | 1.40 | 0.8185 | +49.8% | |
SHYFT GROUP | 18.06.25 | 12.75 | 0.8185 | +30.7% | |
FREEPORT MCMORAN | 02.07.25 | 45.50 | 0.7920 | +10.9% | Incl. dividend |
COMET | 10.07.25 | 278.00 | +31.2% | Incl. dividend | |
URANIUM ENERGY | 17.07.25 | 8.30 | 0.8060 | +33.5% | |
MEDARTIS | 23.07.25 | 87.50 | +33.9% | ||
L&G HYDROGEN ETF | 24.07.25 | 4.15 | -28.8% | Future of H2 questionable! | |
ELANCO ANIMAL HEALTH | 14.08.25 | 17.51 | 0.8075 | +31.3% | |
INTEGRAL AD SCIENCE | 18.08.25 | 9.30 | 0.8065 | +13.6% | R4-Trading |
POLYPEPTIDE | 20.08.25 | 29.50 | +40.5% | ||
DAIICHI SANKYO | 20.08.25 | 4050.00 | 0.5475 | +12.4% | R4-Trading |
INTEL | 18.09.25 | 31.78 | 0.7925 | +13.0% | |
LITHIUM AMERICAS | 09.10.25 | 8.19 | 0.8050 | +93.0% | |
ANGLO AMERICAN | 09.10.25 | 29.50 | 1.0735 | +11.8% | Incl. dividends |
DOTTIKON ES | 24.10.25 | 330.00 | +62.7% | ||
REVIEW 2025: Sample portfolio in double digits!
"There is joy here too!" Although individual price and stock market developments over the last few weeks have slightly hindered our target of a model portfolio performance of around +20%. However, there is not much missing as of December 12 - we can still report a value of +17.1%! The official year-end result will be delivered as usual in January 2026. And how did the following indices and the USD perform?
Comparison of selected indices 2025 | |||
Index | As at 30/31/12/2024 | Status 12.12.2025 | Change in |
SWISS MARKET INDEX | 11'600.90 | 12'880.81 | +11.0% |
SWISS MID PRICE | 2'618.93 | 2'918.35 | +11.4% |
DAX | 19'909.14 | 24'186.49 | +21.5% |
EURO STOXX 50 | 4'895.98 | 5'715.95 | +16.7% |
DOW JONES | 42'544.22 | 48'458.05 | +13.9% |
NASDAQ 100 | 21'012.17 | 25'196.73 | +19.9% |
S&P 500 | 5'881.63 | 6'827.41 | +16.1% |
RUSSELL 2000 | 2'230.16 | 2'551.46 | +14.4% |
NIKKEI 225 | 39'894.54 | 50'836.55 | +27.4% |
SHANGHAI COMPOSITE | 3'351.76 | 3'889.35 | +16.0% |
US DOLLAR | 0.9072 | 0.7960 | -12.3% |
With our fundamental focus on the Swiss equity market, we can be very satisfied with our performance of +17.1%! In any comparison, e.g. with the listed US indices, the currency loss against the USD must be taken into account; the discount of -12.3% clearly puts the index changes into perspective! Other currencies also usually have a negative impact. This trend is likely to continue in 2026, albeit to a lesser extent, which means that investments in the home market, i.e. without direct currency risks, can be advantageous! Nevertheless, our "second look" remains focused on the US equity market!
