Jeppe Kirk Bonde @JeppeKirkBonde: "Happy New Year! In 2025..."

United Arab Emirates

Happy New Year! In 2025 – my portfolio delivered 38% return on investments, beating my historical average of 25% per year since 2013. The main themes of the year were AI including the AI infrastructure build-out, geopolitics including war and tariffs, metals and energy security, and the growing influence of Silicon Valley. Throughout the year, my best performing investments were well-dispersed across industries and themes, with the memory-chip maker $MU (Micron Technology, Inc.) leading the way, gaining 226%, followed by the gold-mining company $B (Barrick Mining Corp) gaining 174%, and the European defense-leader $RHM.DE (Rheinmetall AG) gaining 158%. The worst-performing investment was $NOVO-B.CO (Novo Nordisk B A/S), losing 49%. As 2026 dawns, my portfolio is well-diversified across geographies, industries, and business models – with a bias towards companies with strong competitive advantages, substantial long-term growth opportunities, the ability to generate positive cash flows, even in adverse conditions, and comparatively low share prices. I will continue to analyse the markets 365.25 days per year and do my best to identify great investment opportunities, wherever they arise. Here's to a prosperous and successful 2026! Best regards, Jeppe Kirk Bonde

4 Mentioned

Micron Technology, Inc.

Barrick Mining Corp

RHM.DE

Rheinmetall AG

NOVO-B.CO

Novo Nordisk B A/S

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