Héctor Cubino López @HectorCubi: "📈𝐁𝐫𝐢𝐥𝐥𝐢𝐚𝐧𝐭 𝐒𝐞𝐩𝐭𝐞𝐦𝐛𝐞𝐫, 𝐜𝐨𝐨𝐥 𝐡𝐞𝐚𝐝: +𝟳.𝟓𝟬%..."

Spain

📈𝐁𝐫𝐢𝐥𝐥𝐢𝐚𝐧𝐭 𝐒𝐞𝐩𝐭𝐞𝐦𝐛𝐞𝐫, 𝐜𝐨𝐨𝐥 𝐡𝐞𝐚𝐝: +𝟳.𝟓𝟬% 𝐢𝐧 𝐭𝐡𝐞 𝐦𝐨𝐧𝐭𝐡, +𝟮𝟵.𝟳𝟲% 𝐘𝐓𝐃 September closes with a gain of +7.50%, bringing the 2025 total to +29.76%. More than the number itself, what makes me happy is seeing that we are adapting well to the context and that the strategy is working. 🌍 𝗠𝘆 𝗰𝗼𝗻𝘁𝗲𝘅𝘁 𝗿𝗲𝗮𝗱𝗶𝗻𝗴 𝗮𝗻𝗱 𝘄𝗵𝘆 𝘄𝗲 𝗮𝗿𝗲 𝟭𝟬𝟬% 𝗶𝗻𝘃𝗲𝘀𝘁𝗲𝗱 In the US, growth remains solid (Q2 GDP +3.8% annualized), which has boosted confidence in sectors like technology and healthcare. At the same time, signs of cooling are starting to appear in employment and consumer confidence. That cooling may seem negative, but it also increases the likelihood that the Fed will accelerate rate cuts if the trend is confirmed. We already saw a first move in September with a 25 bp cut to 4.00 to 4.25%. Powell maintains a cautious tone, although political pressure to move faster is growing. From the White House, with Miran leading, there is a clear push toward a more expansionary monetary policy, and that direction is increasingly weighing on the official narrative. Inflation, at 2.9% in August, continues to moderate and provides some room to justify further decisions without losing credibility. Meanwhile, China keeps injecting liquidity into its banking system and infrastructure, which supports global commodity demand and prevents the market tone from feeling too fragile. Added to this is a key factor in 2025: a weaker dollar. This weakness has acted as a tailwind for assets like gold, silver, and cryptocurrencies, which serve as stabilizers in the portfolio. Although here I prefer caution: it is a point worth monitoring closely because it can change quickly and shape market dynamics in the coming months. Taken together, with still-solid growth, more likely rate cuts, liquidity from China, and a softer dollar, the backdrop favors being in the market rather than out of it. 🧩 𝗖𝘂𝗿𝗿𝗲𝗻𝘁 𝗽𝗼𝗿𝘁𝗳𝗼𝗹𝗶𝗼 𝗯𝘆 𝘀𝗲𝗴𝗺𝗲𝗻𝘁 🔹Technology and platforms (47.7%) $GOOG (Alphabet) $MSFT (Microsoft) $NVDA (NVIDIA Corporation) $AMZN (Amazon.com Inc) $MELI (MercadoLibre Inc) $APP (Applovin Corp) $RDDT (Reddit Inc) $RBRK (Rubrik Inc) $NBIS (Nebius Group NV) Core exposure to AI, cloud, and marketplaces: secular growth with strong balance sheets. 🔹Healthcare and biotechnology (12.1%) $HIMS (Hims & Hers Health Inc) $NTLA (Intellia Therapeutics Inc) $CLPT (ClearPoint Neuro Inc) Digital health and applied genetics: innovation with 3 to 5 year optionality. 🔹Crypto assets (15.6%) $BTC $ETH $HBAR Asymmetry and partial diversification, supported by a weaker dollar. 🔹Precious metals (10.4%) $WGLD.L (WisdomTree Core Physical Gold) $WSLV.L (WisdomTree Core Physical Silver UCITS ETF) Hedge against shocks and a complement to the growth tilt. 🔹Indexes and tactical (4.37%) $IWM (Ishares Russell 2000 ETF) US small caps as a cyclical tactical lever. 🔹Energy and commodities (3.99%) $CCJ (Cameco Corp) Uranium tied to energy transition and tight supply. 🔹China and emerging markets (3.50%) $JD.US (JD.com-ADR) Selective and controlled exposure for diversification. 🧠 𝗥𝗲𝗳𝗹𝗲𝗰𝘁𝗶𝗼𝗻 Being fully invested today does not mean ignoring risks. Although the current context pushes us to be in, I also acknowledge the nuances: demanding valuations, political tensions that could increase noise, and a VIX at lows, typical of complacent environments. Any unexpected setback could have a deep impact on markets. If the script changes, we will adjust. The portfolio is growth oriented, but I will not hesitate to rotate and strengthen defenses if the data calls for it. 🙏 𝗧𝗵𝗮𝗻𝗸 𝘆𝗼𝘂 We have grown very quickly since being chosen as Popular Investor in May, and today we already have 49 copiers. I am excited to reach 50 because it symbolizes community more than just a number. Thank you sincerely for the trust. I learn as much from the process as from the results, and that is the part that motivates me the most. If you share this way of investing, with calm, focus, and long term vision, I invite you to copy the portfolio and keep building together. 𝑺𝒆𝒑𝒕𝒆𝒎𝒃𝒆𝒓 𝒉𝒂𝒔 𝒃𝒆𝒆𝒏 𝒆𝒙𝒄𝒆𝒍𝒍𝒆𝒏𝒕, 𝒏𝒐𝒘 𝒊𝒕 𝒊𝒔 𝒕𝒊𝒎𝒆 𝒕𝒐 𝒌𝒆𝒆𝒑 𝒘𝒐𝒓𝒌𝒊𝒏𝒈, 𝒎𝒐𝒏𝒕𝒉 𝒃𝒚 𝒎𝒐𝒏𝒕𝒉, 𝒘𝒊𝒕𝒉 𝒕𝒉𝒆 𝒔𝒂𝒎𝒆 𝒅𝒊𝒔𝒄𝒊𝒑𝒍𝒊𝒏𝒆.

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