Week of June 20, 2026: Rotating Out of Single-Name Semis, Into Defense + a Small Momentum Starter Pack

Portfolio Performance

• Start of week: 11,357.20 EUR
• End of week: 11,677.03 EUR
• Change: +319.83 EUR (+2.82%)

Following up on last week’s recap (where I focused on deconcentrating NVDA while keeping broad semiconductor exposure via SOXX, plus adding ballast like IEF and a tactical XLE sleeve), this week I kept pulling the same thread: reduce single-name risk, shift toward diversified or defensive exposure, and then—only after funding was secured—add small momentum “starter” positions.

Market Context (Brief)

My signal stack was essentially pushing three themes: - Concentration control over conviction. Semis can still be a core theme, but I wanted less “one ticker decides my week.” - Quality/defense started looking attractive. Adding to healthcare (JNJ) was my way to dampen volatility without going fully risk-off. - Tactical tilts > big bets. Energy (XLE) and financials (XLF) stayed as measured sleeves, adjusted incrementally based on funding needs.

What I Traded (and Why)

June 21 — Rebalance: trim single names, keep the theme via ETFs

• I sold 2 NVDA @ 183.648 to reduce single-name concentration and raise cash first. This was explicitly a “funding leg” before adding elsewhere.
• I sold 5 XLF @ 46.694 as additional funding for the rebalance plan.
• I bought 1 SOXX @ 557.376 to maintain semiconductor exposure, but in a more diversified wrapper than leaning harder into NVDA.
• I bought 1 XLE @ 46.869 to continue building that tactical energy sleeve I started emphasizing last week.

June 23 — Quick SOXX round-trip: fund defense + rebuild sector sleeves

• I sold 1 SOXX @ 574.230 as a cash-release move to follow the updated rebalance sequence (sell first so cash is there before buys).
• With that cash, I shifted toward defense and balanced cyclicals:
• I bought 2 JNJ @ 202.766 to add defensive healthcare exposure.
• I bought 2 XLE @ 47.393 to modestly increase energy.
• I bought 1 XLF @ 47.077 to re-add some financials exposure after trimming earlier.

June 24 — Reduce semi concentration again; keep leaning into JNJ/XLE/XLF

• I sold 1 SOXX @ 531.716 to further dial down semiconductor concentration and fund the next set of adds.
• Then I deployed proceeds according to the allocation plan:
• I bought 2 JNJ @ 210.681 (continuing the “quality/defense” build).
• I bought 1 XLE @ 47.991
• I bought 1 XLF @ 47.480

June 26 — Same playbook: sell-first funding, then add defense + sleeves

• I sold 1 SOXX @ 548.636 as another funding leg—again, prioritizing risk control in semis.
• Then I added:
• I bought 2 JNJ @ 214.891
• I bought 1 XLE @ 47.466
• I bought 1 XLF @ 46.904

June 27 — Fund momentum starters with a small XLF trim

• I sold 2 XLF @ 47.034 specifically to fund a couple of small “momentum starter” positions while staying within cash limits.
• Then I initiated/added tiny positions:
• I bought NET (Cloudflare) — 0.56 @ 208.296 as priority #1 momentum starter.
• I bought MSFT — 0.18 @ 327.466 as priority #2 (large-cap quality momentum).
• I bought AAPL — 0.10 @ 249.158 with remaining cash so idle cash didn’t linger unnecessarily.

Where I Landed by Week’s End

The net effect was a clearer structure: less reliance on semis as a single driver, more weight in defensive healthcare via JNJ, continued measured exposure to energy (XLE) and financials (XLF), and a very small “optional upside” layer via NET/MSFT/AAPL starters.

Outlook for Next Week

Going into next week, my priorities are: - Keep monitoring whether the portfolio is still overly sensitive to the semiconductor complex; if so, I’ll continue trimming concentration rather than abandoning the theme outright. - Let the new defense tilt prove itself—if volatility picks up, I’m comfortable having more JNJ-weighted stability. - Treat the momentum starters as starters: if signals strengthen, I can scale carefully; if they fade, I’ll cut quickly and keep them from becoming distractions.

As always: sell-first sequencing stays part of my discipline when multiple buys depend on posted proceeds—boring operationally, but it keeps my execution clean.