Venture 04 · Virtual challenge
The Model Portfolio.
A €100,000 virtual portfolio started as a public challenge: real positions, real reasoning, zero real money. Updated occasionally, always transparently.
Invested
€29,500
In liquidity
€70,500
Open positions
15
Composition
Where the capital sits.
- Microsoft4.0%
- Meta4.0%
- Salesforce2.3%
- Global Equity Premium Income ETF3.0%
- Zoetis3.0%
- Novo Nordisk3.0%
- Oracle1.5%
- Adobe1.5%
- Netflix1.5%
- Accenture1.3%
- General Mills1.0%
- Celsius1.0%
- Fiserv1.0%
- Lululemon1.0%
- Alibaba0.5%
- Cash70.5%
Why so much liquidity
Over two thirds of the book is still in cash. That is a deliberate stance, not indecision: entries so far have been selective and staggered, and the remaining liquidity is the reserve that lets this portfolio act with conviction when the next real opportunity appears.
Performance
Position by position.
Unrealized result on each position since entry, in percentage.
- Microsoft+29%
- Meta+23%
- Salesforce+49%
- Global Equity Premium Income ETF+1.62%
- Zoetis-3.56%
- Novo Nordisk-5%
- Oracle+20%
- Adobe+11%
- Netflix+3.41%
- Accenture+20%
- General Mills+11%
- Celsius-3%
- Fiserv-7%
- Lululemon-18%
- Alibaba-1.5%
Holdings
Every position, and why it exists.
| Position | Sector | Invested | Result | Why it was bought |
|---|---|---|---|---|
| Microsoft | Technology | €4,000 | +29% | The highest quality compounder in the book: cloud, enterprise lock in and AI monetization. Core position. |
| Meta | Communication services | €4,000 | +23% | An advertising machine with improving efficiency and AI driven engagement, bought while sentiment was still cold. |
| Salesforce | Technology | €2,250 | +49% | Enterprise software at a discount. The market doubted growth; the position bet on cash flow and AI agents. Best performer so far. |
| Global Equity Premium Income ETF | Diversified income | €3,000 | +1.62% | The income sleeve: global equities with a covered call overlay, held to collect yield and dampen volatility. |
| Zoetis | Healthcare | €3,000 | -3.56% | The leader in animal health: defensive demand, pricing power, bought during a sector wide selloff. |
| Novo Nordisk | Healthcare | €3,000 | -5% | The GLP-1 pioneer bought on weakness after guidance cuts. Long term obesity and diabetes demand remains intact. |
| Oracle | Technology | €1,500 | +20% | Cloud infrastructure with a swelling AI backlog. Bought before the market fully priced the data center buildout. |
| Adobe | Technology | €1,500 | +11% | A creative software moat trading at a depressed multiple on AI disruption fears. Position built on the skepticism. |
| Netflix | Communication services | €1,500 | +3.41% | Pricing power, an advertising tier still ramping and content scale nobody can replicate. |
| Accenture | IT services | €1,250 | +20% | IT services at a cyclical low, bought while the market worried about AI replacing consultants rather than hiring them. |
| General Mills | Consumer staples | €1,000 | +11% | A defensive staples name bought as ballast: steady cash flows and a dividend while growth names do the heavy lifting. |
| Celsius | Consumer staples | €1,000 | -3% | Energy drink growth at a discounted price after distribution noise. A small, higher risk satellite. |
| Fiserv | Financials / payments | €1,000 | -7% | Payments and core banking infrastructure bought during a sharp selloff. Patience required; thesis unchanged. |
| Lululemon | Consumer discretionary | €1,000 | -18% | A premium brand in a drawdown. The weakest position in the book, held as a contrarian bet on brand resilience. |
| Alibaba | China tech | €500 | -1.5% | Cheap exposure to Chinese tech and cloud. Kept deliberately small given geopolitical risk. |
Commentary
How the book reads today.
The portfolio is built as a barbell: on one side, quality compounders bought during moments of doubt (Microsoft, Meta, Salesforce, Adobe); on the other, defensive ballast and income (General Mills, Zoetis, the premium income ETF). In between, a handful of small satellites where the risk is sized accordingly.
The realized trades tell the same story as the open ones: Duolingo, PayPal, Atlassian and part of Salesforce were all sold into strength, locking in gains between +14% and +55%. Taking profit is part of the system, not a failure of conviction.
The main self critique is concentration: too much of the performance depends on US mega cap tech. That is exactly why the cash stays high and why the watchlist below leans towards non US and non tech names.
Risk score
6 / 10
Moderately aggressive
The score blends three factors: heavy concentration in US mega cap technology, a book of single stock positions rather than funds, and the counterweight of more than two thirds of the capital still in cash. Concentration pushes the risk up; liquidity pulls it down. A fully invested version of this portfolio would sit closer to 8.
Realized trades
Closed positions.
Positions already sold, with the gain locked in. Taking profit is part of the strategy.
- Duolingo€1,000+28%
- PayPal€1,000+24%
- Atlassian€1,000+14%
- Salesforce (partial)€1,000+55%
Watchlist
Next candidates, not positions yet.
Names under study. Being on the list means nothing has been bought.
PDD
Chinese ecommerce at a single digit multiple; waiting for more regulatory clarity.
JD.com
Logistics driven retail in China, watched alongside PDD as an alternative entry.
Vertiv (VRT)
Picks and shovels of the AI data center buildout; waiting for a better entry price.
Nike
A global brand in a deep drawdown; turnaround signs under observation.
LVMH
The luxury bellwether; weak Chinese demand may offer a rare discount on quality.
Disclaimer
This is a virtual portfolio run purely as an educational challenge. No real capital is invested and nothing on this page is, or should be read as, investment advice, a recommendation or a solicitation to buy or sell any security. Figures are indicative and updated occasionally. Do your own research before making any investment decision.