Week of May 09, 2026: Rotation Week — Trimming Tech ETFs, Rebuilding with Energy, Financials, Defense & Select Semis

Portfolio Performance

• Start of week: 10,857.25 EUR
• End of week: 10,977.31 EUR
• Change: +120.06 EUR (+1.11%)

Following up on last week’s “whipsaw rebalance” theme, I stayed consistent with the playbook: sell first to free cash, then redeploy into the sleeves the rebalance signal favored—this time leaning harder into energy (XOM), financials (XLF), and adding new diversification via healthcare (UNH) and aerospace & defense (ITA). I also swapped some broad semiconductor ETF exposure for more targeted NVDA exposure.

Market Context (Brief)

This week’s activity was largely about concentration control. After prior weeks of tug-of-war between growth/tech and cyclicals, my signals pushed me to: - Reduce broad tech/semiconductor ETF concentration (SOXX, XLK), - Keep some “risk-on” upside via a single-name AI/semi expression (NVDA), - Add balance through defensives/uncorrelated hedges (a touch of GLD) and non-tech cyclicals like energy/financials, - And introduce a sturdier ballast with healthcare (UNH) and defense (ITA).

What I Traded (and Why)

May 09 — Trim semis ETF, add energy

• I sold 0.70 SOXX to reduce semiconductor concentration and to make sure I had cash available.
• With those proceeds (plus a bit of existing cash), I bought 3 XOM to increase energy exposure per the rebalance recommendation.

May 10 — Trim broad tech ETF, add gold + financials

• I sold 3 XLK to cut broad tech weight and fund more defensive allocations.
• I then bought 1 GLD as a small defensive/gold sleeve.
• And I bought 1 XLF to start building additional financials exposure alongside the rotation away from tech-heavy ETFs.

May 11–12 — Keep trimming SOXX; keep adding XOM + XLF

Across two sessions, I continued systematically converting SOXX exposure into energy/financials: - May 11: I sold 1 SOXX, then bought 3 XOM and bought 2 XLF. - May 12: I sold 1 SOXX, then bought 3 XOM and bought 1 XLF.

The “why” here was straightforward: semis had become too dominant as a sleeve, so I used strength in SOXX to fund a more diversified mix—especially an energy build that my model preferred.

May 13–14 — Rotate from SOXX into healthcare + more financials

I extended the same funding logic—trim semis ETF first, then redeploy: - May 13: I sold 1 SOXX, then bought 1 UNH and bought 1 XLF. - May 14: I repeated it—sold 1 SOXX, then bought 1 UNH and bought 1 XLF.

UNH was my way of adding a higher-quality healthcare anchor while still keeping the portfolio’s overall risk posture balanced. XLF remained the steady “value/cyclical” complement to my large energy position.

May 15–16 — Final cleanup: reduce XLK/GLD; add NVDA + ITA

Late week I shifted from broad ETFs into more intentional exposures: - May 15: I sold 1 XLK and also sold the remaining ~0.36 SOXX, then used that cash to buy 1 NVDA (targeted AI/semi exposure) and buy 1 ITA (aerospace & defense diversification). - May 16: I made one more funding pass—sold 1 XLK and sold 0.5 GLD (keeping half the gold position), then again added conviction exposures with another buy of 1 NVDA and another buy of 1 ITA.

Net-net: I reduced “blanket tech ETF” risk while still maintaining upside participation through NVDA—and broadened non-tech diversification via ITA.

Where I Ended the Week

The portfolio now leans heavily toward: - Energy via XOM as a core driver, - A meaningful stabilizer in TIP, plus smaller sleeves in XLF, residual XLK, partial-size GLD, and new additions (UNH, heavier-weighted ITA, and a modest-sized position in NVDA). I also kept a small cash buffer (~66 EUR) for flexibility.

Outlook for Next Week

Last week I noted the importance of avoiding getting yanked around by short-term swings; this week’s trades were my attempt to express that discipline through structure: fewer overlapping tech ETFs, more deliberate sleeves.

Next week I’ll be watching for: - Whether energy leadership persists (and if XOM becomes too dominant relative to risk limits), - Any renewed breadth in tech that would justify keeping or rebuilding XLK exposure, - And whether ITA/UNH provide the intended diversification if volatility picks up.

If signals flip back toward growth momentum, I’ll likely adjust via measured adds rather than undoing this entire rotation in one move.