It’s hard to believe that 15 months have already passed since I initiated my investment journey with a real money model portfolio on July 1, 2024. With an initial capital of €50,000, this portfolio, managed by Plutos AG, aims to reach a seven-figure sum as part of my ambitious one million euro challenge over the next 20 years. This blog serves as a platform to share my experiences and insights.
For those interested in high-growth investing, you can replicate my portfolio’s strategy by following along as a client of Plutos with your own HGI account. At the end of each quarter, I provide updates on the portfolio’s performance and the market trends affecting it.
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The journey so far: Portfolio performance highlights
Reflecting back, the HGI portfolio had an impressive start in the second half of 2024, achieving a remarkable gain of over 27%. However, the first quarter of 2025 introduced a new wave of challenges.
After the inauguration of President Trump in the United States, the portfolio, along with broader US stock markets, faced significant pressure, resulting in a nearly 15% loss by the end of March. The second quarter brought a modest recovery, with a 4% gain, but it was the third quarter that truly shone, as three key stocks in the portfolio skyrocketed, leading to an exceptional 14% increase.
Currency fluctuations and their impact
The year-to-date performance, while appearing humble at first glance, becomes more impressive when considering the context. Despite a notable decline of 11% in the US dollar against the euro since early 2025—marking the steepest drop for the world’s reserve currency since 1973—the HGI portfolio managed to achieve a positive trajectory. This demonstrates the resilience of the investments, especially for those in the eurozone where currency fluctuations play a vital role.
Allocation overview and risk management
As of early, the HGI portfolio has amassed an estimated value of nearly €76,000, reflecting a growth of approximately 30% since its inception. This increase takes into account an additional annual investment of €10,000 made in the second quarter of 2025, as previously outlined in my million euro challenge.
Here’s how the portfolio is currently divided across various asset classes:
- Stocks: €56,500.39 (74.5%)
- ETFs: €4,379.76 (5.8%)
- Cryptocurrency: €3,615.56 (4.8%)
- Cash: €11,335.93 (15%)
The cash reserve stands at 15%, indicating a protective buffer that is more significant than it has been in recent times. This liquidity is crucial for my risk management strategy, especially as I prepare for potential volatility in the stock markets as we approach the autumn months.
Key performers and challenges in the third quarter
The standout performance of the HGI portfolio in the third quarter of 2025 can largely be attributed to three stocks that underwent substantial revaluation. Vimeo, for instance, surged over 90% in September after announcing an acquisition deal, marking a significant turnaround from its previous struggles earlier in the year. Similarly, Warner Bros. Discovery witnessed a nearly 75% increase, fueled by speculation around a potential acquisition that could value shares well above $20.
On the flip side, the biggest setback came from monday.com, which plummeted by 30% in a single trading session due to fears of being left behind in the AI revolution. Such volatility is commonplace in the technology sector and presents opportunities for investors who are ready to seize them.
Comparative analysis and benchmarks
When considering how the HGI portfolio stacks up against other indices, many investors are inclined to compare it with the Nasdaq 100. However, since only a handful of stocks from this index are represented in the HGI portfolio, I prefer to benchmark against the Russell 2000, which better reflects the focus on smaller-cap stocks.
For an accurate comparison, one can look at Euro-denominated ETFs like the Amundi Russell 2000 UCITS ETF, which has shown approximately 10% growth since the HGI portfolio’s inception, primarily impacted by currency changes.
In the interest of full transparency, I’ve chosen not to disclose every transaction or position in the HGI portfolio. This decision allows for flexibility in my investment strategies without causing unnecessary market movements. However, my other portfolios, including the Long/Short portfolio at eToro, remain fully visible for investors wishing to follow my investment rationale closely.
