Although I was expecting March to be our first +5٪ increase of the year, it seems that last week boycotted that expectation. Nevertheless March has been a volatile but interesting month and it has boosted my sentiment for the majority of our portfolio. What’s important to highlight is that we haven’t seen any major negative company-specific news across our positions. Most of the movement this month has been driven by broader market conditions and sentiment, not by deterioration in fundamentals. We saw strong momentum in $NIO , earnings expectation is increasing and sentiment is improving going into 2026. At the same time, some of our more speculative plays like $OUST and $SMR have been under pressure and $AEVA has seen some increasing volatility, but in the right direction. That’s part of the game with emerging tech. The geopolitical tensions added some uncertainty to the markets. These situations tend to create short-term swings, but don’t change the long-term thesis for the companies we’re invested in. I do believe that we're almost at rock bottom, but we need stability in the middle east before we can be at ease, burning a candle for Trump's ego always helps. Going into April, the focus remains the same: - Stay patient - Stick to conviction plays (our companies are still pushing) - Avoid reacting to short-term noise - We’re positioned for growth, but expect continued volatility along the way. Copy Trading is not investment advice | Capital at risk | Past performance does not guarantee future results.

NIOOUSTSMRAEVA

First, deliveries continue to grow strongly. The company delivered over 124k vehicles in the quarter, a major increase year-over-year. Growth in deliveries remains the main driver behind NIO’s improving financials. Second, we’re starting to see better margins (around 18% in Q4, which is high) and signs that the business model is scaling. For a long time the biggest concern around NIO was cash burn. The latest results show that as volumes increase, profitability becomes much more realistic. Third, management gave very strong guidance for 2026, expecting significant growth in both deliveries and revenue. That tells us demand for their newer models is still strong despite the intense EV competition in China. Of course, risks remain. The Chinese EV market is extremely competitive and price pressure across the sector continues. This will likely keep the stock volatile in the short term. In context of my portfolio, NIO remains a growth position in the portfolio, and the story still depends on execution, scaling production, and expanding internationally. With these results I can say that I'm very optimistic about the future of NIO and I'm curious how 2026 will go wrt to the stock price, I've got my price targets set. 𝗪𝗵𝗮𝘁 𝗱𝗼 𝘆𝗼𝘂 𝘁𝗵𝗶𝗻𝗸 𝘄𝗲 𝗰𝗮𝗻 𝗲𝘅𝗽𝗲𝗰𝘁 𝗳𝗿𝗼𝗺 𝗡𝗜𝗢 𝗶𝗻 𝟮𝟬𝟮𝟲? Reference article: https://ir.nio.com/news-releases/news-release-details/nio-inc-reports-unaudited-fourth-quarter-and-full-year-2025 𝘊𝘰𝘱𝘺 𝘛𝘳𝘢𝘥𝘪𝘯𝘨 𝘪𝘴 𝘯𝘰𝘵 𝘪𝘯𝘷𝘦𝘴𝘵𝘮𝘦𝘯𝘵 𝘢𝘥𝘷𝘪𝘤𝘦 | 𝘊𝘢𝘱𝘪𝘵𝘢𝘭 𝘢𝘵 𝘳𝘪𝘴𝘬 | 𝘗𝘢𝘴𝘵 𝘱𝘦𝘳𝘧𝘰𝘳𝘮𝘢𝘯𝘤𝘦 𝘥𝘰𝘦𝘴 𝘯𝘰𝘵 𝘨𝘶𝘢𝘳𝘢𝘯𝘵𝘦𝘦 𝘧𝘶𝘵𝘶𝘳𝘦 𝘳𝘦𝘴𝘶𝘭𝘵𝘴.

NIO

$TEAM , the company behind tools like Jira and Confluence, announced it will cut around 10% of its workforce while restructuring the company around AI. I honestly think 10% is just the start for Atlassian, the IT industry is still figuring out what this transition actually means. Yes individual productivity increases a lot, but the bigger question is what happens to the entire software development cycle. For years we’ve used frameworks like Agile and Scrum to keep development organized and predictable. If productivity suddenly multiplies, simply adding more tickets to a sprint won’t solve anything. The real change will likely happen at the planning level. Roadmaps that used to span 2–3 years might shrink to 6 months or even less. Companies will be able to build, test and pivot much faster. That raises an interesting question: once organizations reach that speed, how will teams, planning cycles and product strategy adapt? This is something I’m paying close attention to when looking at tech companies. The winners will likely be the ones that rethink how they build software, not just the ones that add AI tools to their stack. Read the full article about Atlassian here: https://www.ft.com/content/cc10adff-7043-4471-bf13-94e9a694613f 𝘊𝘰𝘱𝘺 𝘛𝘳𝘢𝘥𝘪𝘯𝘨 𝘪𝘴 𝘯𝘰𝘵 𝘪𝘯𝘷𝘦𝘴𝘵𝘮𝘦𝘯𝘵 𝘢𝘥𝘷𝘪𝘤𝘦 | 𝘊𝘢𝘱𝘪𝘵𝘢𝘭 𝘢𝘵 𝘳𝘪𝘴𝘬 | 𝘗𝘢𝘴𝘵 𝘱𝘦𝘳𝘧𝘰𝘳𝘮𝘢𝘯𝘤𝘦 𝘥𝘰𝘦𝘴 𝘯𝘰𝘵 𝘨𝘶𝘢𝘳𝘢𝘯𝘵𝘦𝘦 𝘧𝘶𝘵𝘶𝘳𝘦 𝘳𝘦𝘴𝘶𝘭𝘵𝘴.

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TEAM

Today markets will likely be driven by geopolitics rather than company news. Tensions around Iran have pushed oil prices higher and typically lead to a short-term “risk-off” sentiment, meaning higher volatility and more pressure on small cap growth stocks. For our portfolio this mainly affects short-term sentiment. Higher energy prices can actually strengthen our long-term themes such as electric vehicles and nuclear energy, which are represented by positions like NIO and $SMR . We will probably see some negative volatility today. Our strategy remains focused on long-term technological trends rather than reacting to daily geopolitical headlines. We just need to ride through the wave, let's hope this war doesn't last too long. 𝘊𝘰𝘱𝘺 𝘛𝘳𝘢𝘥𝘪𝘯𝘨 𝘪𝘴 𝘯𝘰𝘵 𝘪𝘯𝘷𝘦𝘴𝘵𝘮𝘦𝘯𝘵 𝘢𝘥𝘷𝘪𝘤𝘦 | 𝘊𝘢𝘱𝘪𝘵𝘢𝘭 𝘢𝘵 𝘳𝘪𝘴𝘬 | 𝘗𝘢𝘴𝘵 𝘱𝘦𝘳𝘧𝘰𝘳𝘮𝘢𝘯𝘤𝘦 𝘥𝘰𝘦𝘴 𝘯𝘰𝘵 𝘨𝘶𝘢𝘳𝘢𝘯𝘵𝘦𝘦 𝘧𝘶𝘵𝘶𝘳𝘦 𝘳𝘦𝘴𝘶𝘭𝘵𝘴.

SMR

Last Friday I officially stopped freelancing, I've ended my contract at $ATCO-A.ST and I’m preparing to start a new chapter at Telenet ( $LBTYA ). At the same time, I’ve been going deep into AI, not just experimenting, but actively embedding it into real development workflows. With the current generation of models, I’m convinced we’ve entered a new phase, one that will fundamentally reshape IT jobs over the next years. The real impact isn’t only in AI products, but in how companies build software: teams that integrate AI into their development process will move faster, operate leaner, and require fewer resources. Companies that move early will widen the gap, those that hesitate will struggle to catch up or will go bankrupt. I’m glad to see that $XYZ recognizes this shift, and I expect many others to follow, which will likely pressure traditional contracting models and thus impact me as a freelancer. Now, how does this affect our portfolio? I’m taking this thesis seriously. I’ll be looking closely at companies that don’t just “talk AI” but structurally adapt their operations around it. I’m curious how large IT consulting firms will react, considering that their revenue models are often built on billable hours and scale of manpower. What happens when clients need fewer hours? At the same time, I’m watching how FAANG evolves: will they use AI to aggressively compress costs and expand margins, will we see a creativity boost and a 100 new products or will we see big tech change into something new? Either way, productivity gains at scale can significantly impact valuations, margins, and competitive moats. Quick earnings thoughts on some names in our portfolio: $XYZ continues to show operational discipline and clear positioning in the AI-driven efficiency wave. $SMR remains a long-term infrastructure bet; volatility is high, but the structural energy narrative hasn’t changed. $OUST is still in scaling mode, revenue traction matters more than short-term profitability at this stage, but a great Q4. $AEVA is also still on my good list. $PYPL has me questioning, do I buy more or should I dump everything, I think they are currently really cheap, but I'm not 100% convincedon their execution but lets see what the new CEO has to bring. So yeah that's a recap of how I see it, but let's see how this world at war continues... As long as the world is in this power hungry mode, productivity and collaboration is low, and if there's one thing I truly believe is that you go further together. Copy Trading is not investment advice | Capital at risk | Past performance does not guarantee future results.

ATCO-A.STLBTYAXYZSMROUSTAEVAPYPL

I’ve added $IEMA.L (iShares MSCI EM UCITS ETF USD Acc) to our portfolio this week. This ETF aims to track the MSCI Emerging Markets Index, meaning it invests across a broad set of companies in developing markets like China, India, Taiwan and South Korea. It gives exposure to growth in economies outside the traditional developed world. 💡 What it is: IEMA.L is an accumulating equity ETF that reinvests dividends instead of paying them out. It’s physically replicating the index by holding most of the underlying stocks. 💸 TER: The total expense ratio is 0.18% p.a., which means the cost is low relative to many actively managed funds. 📈 Why I like it for the next 5 years: • Diversification across emerging markets, which could benefit from faster economic expansion than developed markets. (Thanks Donald) • Low cost: keeping fees down helps performance compound over time. • Broad exposure: over a thousand companies in sectors like tech, finance and consumer goods. • Accumulating structure: dividends are reinvested, pushing more capital into the strategy. This fits my strategy of balanced growth and diversification, I consider this ETF as a satalite to the core of the profile. I'm expecting an average of 5% per year, but I'm hoping +10% p.a. for the next 3 years.

IEMA.L