Portfolio Update For 2025

Note: This portfolio is typically updated, based on need, towards the end of each quarter to bring it up to date with the most recently discussed investment ideas at Beyond The Hype.

This article, and other useful information, can be found by clicking the “Reference” tab on the Beyond The Hype Substack landing page (note the “Reference” descriptor in the image below.

The portfolio is provided as an example and may not be suitable for all investors. Portfolios need to be tailored to individual needs based on safety considerations and risk profiles. In the portfolio table, “Thesis” to show the current thesis, “Duration” to show how long it is likely to take for the thesis to play out, and “Estimated ROI” to show the estimated magnitude of stock appreciation.

Notable Changes Since Last Update

Beyond The Hype portfolio tends to stay relatively stable through industry and market cycles as churn in the portfolio is rarely a good idea. As usual, there are very few changes in the portfolio this time but conceptually one major change in Beyond The Hype approach from last year is that there will be no separate AI portfolio. AI is now headed to be an integral part of much of the economy and is now the central theme for investing. Outside of trading names, like a few solar stocks, all core stocks will have an AI component.

With the into out of the way, here are the changes:

• Cash stays at 0% as in 2024. Looking back, it is now clear that that was the correct choice for 2024 and there is not much of a reason to be not fully invested in 2025 despite concerns about overvaluation. We are living in the AI era and there are no signs of slowing down of growth in Beyond The Hype portfolio companies.

• ASML continues to be in very much a sole source position like TSMC but has taken several hits it can during the last few years as bad news dominated the semiconductor industry (except AI). But most of the bad news is in the rear view now and logic and memory (mainly HBM) business upgrades should drive strong growth going forward. ASML. Allocation goes up from 5% to 10%.