Week of March 21, 2026: From Tech Trim to Real-Asset + Defense Balance (with a Semis Sleeve)

Portfolio Performance

• Start of week: 9,897.37 EUR
• End of week: 9,956.03 EUR
• Change: +58.66 EUR (+0.59%)

After last week’s “hedge on/hedge off” staging, I kept the same philosophy but tightened the objective: reduce tech concentration, rebuild a more durable defensive core, and treat energy as a position to size—not a one-way bet. Net result: a modest gain while I rotated exposures pretty aggressively.

Market Context (Brief)

This week felt like a classic cross-current tape: pockets of strength in energy and “real asset” behavior, while growth/tech stayed choppy enough that I didn’t want any single name dominating risk. My playbook was to keep rotating toward diversifiers (gold, inflation protection) and add a defense/aerospace sleeve, while still keeping selective exposure to semis/AI—just in a more controlled way.

What I Traded (and Why)

March 22 — Funding the energy leg (trim tech + cash proxy)

• I sold META (0.74) to cut the position roughly in half per my rebalance plan—freeing cash and reducing tech concentration.
• I sold SHV (2) as the cleanest liquidity source to fund sector rotation.
• With those proceeds, I bought XOM (2.47) as my primary energy allocation—liquid, dividend-bearing exposure.
• I also bought XLE (4) to complement XOM with broader sector coverage.

March 23 — Second wave: keep rotating without fully abandoning tech

• I sold META (0.22) as another partial trim—still keeping some core exposure at that point.
• I sold SHV (2) again to fund the planned energy adds while keeping some defensive ballast intact.
• I added to energy with XOM (1) and XLE (2) to complete the rotation sizing.

March 24 — Pivot: add hedges + targeted AI momentum

Following up on last week’s theme of staged rebalancing, I shifted from “add energy” to “balance the book.” - I sold META (0.22) and sold SHV (1) to free cash for diversifiers. - I bought GLD (0.55) as a small safe-haven/inflation hedge. - I bought NVDA (0.85) as a measured momentum/AI add—sized small so it wouldn’t reintroduce concentration risk.

March 25 — De-risk energy concentration; move tech exposure from single-name to basket

Energy had become crowded in my own portfolio quickly, so I started trimming and rebalancing into structure. - I sold XLE (6) to reduce energy concentration and fund new allocations. - I also sold META (0.29) to fully exit the remaining position—clean break, less single-name headline risk. - With that capital, I bought SOXX (1) to keep semiconductor exposure via an ETF rather than relying on one stock. - And I bought SHV (1) to rebuild a short-duration cash-equivalent buffer.

March 26 — Rotate from energy into gold + defense

This was the most “portfolio construction” day of the week: - I sold XLE (9.22) (~30% trim) and sold XOM (2.3) (~20% trim) explicitly to bring energy back into proportion. - I redeployed into defense and hedges: I bought GLD (1.51) and initiated/added defense with ITA (1.28).

March 27 — Continue funding defense + hedges

• I sold XLE (4) and sold XOM (1) as additional trims to keep energy from dominating risk.
• I used proceeds primarily for defense: I bought ITA (1.77) and topped up hedging with GLD (0.30).

March 28 — Final tune-up: trim risk; add inflation protection

To finish the week, I tightened exposures again: - I sold XLE (3) to further right-size energy. - I sold NVDA (0.34) (~40% trim) to reduce tech concentration after the earlier add. - Then I reinforced defenses: I bought GLD (0.39) and added inflation-linked duration with TIP (0.75).

Where I Landed

By week’s end, my posture was more balanced: meaningful but controlled energy exposure (XOM/XLE), stronger diversifiers (GLD, more emphasis on hedging), added defense cyclicality (ITA), inflation protection (TIP), plus a contained growth sleeve (SOXX/NVDA) without leaning on META.

Outlook for Next Week

Next week I’ll be watching whether this market rewards “real assets + defensives” or snaps back into growth leadership. My priority is simple: - Keep energy sized appropriately after this strong run-up, - Let gold/TIP do their job as shock absorbers, - And only add back risk if price action improves—preferably through diversified vehicles rather than single-name concentration.

If volatility picks up, I’m comfortable staying patient with this more resilient mix and using small, staged trades rather than big swings.