Portfolio under the microscope: My exposure to Dutch stocks – why I hold $ADYEN and am waiting for $ASML

In my portfolio I currently hold only one Dutch stock – $ADYEN.AS . I have two positions in it with a combined weight of about 3% of the portfolio. Both are currently at a loss, but I stay calm and hold them with a medium-term horizon and a target price around 1530 USD.

Why I like $ADYEN and why I hold it:

One of the global leaders in payment platforms with a scalable and high-margin model

Strong long-term trends thanks to the shift to digital and cashless payments

High customer “stickiness” – switching to a competitor is costly and complex

Expansion into new regions and segments (especially the US and enterprise clients)

Stable balance sheet and consistent cash flow generation even in a weaker macro environment

I believe the current price does not fully reflect the long-term growth potential, so I’m prepared to be patient and let the position “work” over the coming quarters.

On my Dutch watchlist I also have $ASML . I consider the company to be exceptionally high quality from a long-term perspective, but at current prices I view it as overvalued and I’m not buying yet. My planned entry zone is around 980 USD.

Why $ASML is attractive, but I’m waiting:

Global leader in EUV lithography – practically a monopolistic position in the most advanced chip manufacturing

Key supplier for the largest players like TSMC, Intel, and Samsung

Strong structural demand driven by AI, HPC, and the ongoing need for more powerful chips

Significant technological lead that is extremely difficult to catch up with

On the other hand, the current valuation in my view already largely prices in an optimistic growth scenario and leaves minimal “margin of safety” in case of a slowdown in the semiconductor cycle or order delays. Therefore I prefer to wait for a better entry price.

Discipline on entry prices remains one of my key rules. I’d rather miss part of the upside than enter at an unattractive risk-reward ratio.

How about you? Do you hold Dutch stocks like $ADYEN or $ASML in your portfolio? Are you also waiting for better prices on some names?

The English version of this post is available on my profile on eToro. If you’d like to follow me there or possibly copy my USD portfolio, I’d be happy!