{"id":3745,"date":"2026-11-02T13:09:06","date_gmt":"2026-11-02T10:09:06","guid":{"rendered":"https:\/\/baytutumlu.com\/?p=3745"},"modified":"2026-11-02T13:09:08","modified_gmt":"2026-11-02T10:09:08","slug":"ekim-2026-sonu-portfoy-durumu","status":"publish","type":"post","link":"https:\/\/baytutumlu.com\/index.php\/2026\/11\/02\/ekim-2026-sonu-portfoy-durumu\/","title":{"rendered":"Ekim 2026 Sonu Portf\u00f6y Durumu"},"content":{"rendered":"\n<p>Herkese selamlar. Yeni bir ay\u0131n daha sonuna geldik. Finansal \u00f6zg\u00fcrl\u00fck yolculu\u011funa ba\u015flayal\u0131 tam 100 ay, hedefime ula\u015fal\u0131 ise 37 ay ge\u00e7mi\u015f. Zaman\u0131n nas\u0131l ge\u00e7ti\u011fini anlamak ger\u00e7ekten zor. Tam 100 ay \u00f6nce yat\u0131r\u0131m yapmaya ba\u015flam\u0131\u015f\u0131m ve o zamanki ben ile arada o kadar fark var ki. Hayat\u0131m\u0131 180 derece de\u011fi\u015ftiren bir 100 ay oldu. Bu s\u00fcre i\u00e7erisinde finansal ba\u011f\u0131ms\u0131zl\u0131\u011fa ula\u015ft\u0131m, twitterda 200 binden fazla ki\u015finin takip etti\u011fi birisi haline geldim. Sonras\u0131nda ise tam zamanl\u0131 \u015fekilde i\u00e7erik \u00fcretmeye ve bildiklerimi insanlarla payla\u015fmaya ba\u015flad\u0131m. \u015eu anda hayat\u0131m\u0131n ikinci evresini ya\u015f\u0131yorum. 30 ya\u015f\u0131na kadar olan evre ile 30&#8217;undan sonras\u0131 siyahla beyaz gibi:)<\/p>\n\n\n\n<p>Ki\u015fisel de\u011ferlendirmeden sonra piyasalar\u0131n durumuna gelelim. Eyl\u00fcl\u00fc bir g\u00fcven krizi ay\u0131 olarak geride b\u0131rakm\u0131\u015ft\u0131k. Ekim ise bu krizin bedelinin \u00f6denmeye devam etti\u011fi bir ay oldu. Eyl\u00fcl sonunda 11.947 seviyesinden devrald\u0131\u011f\u0131m\u0131z BIST 100, 5 Ekim&#8217;de 12.444 ile ay\u0131n en y\u00fcksek kapan\u0131\u015f\u0131n\u0131 yapt\u0131. Sonras\u0131nda MSCI&#8217;\u0131n T\u00fcrkiye karar\u0131, faiz indirimi g\u00fcn\u00fcndeki sat\u0131\u015f ve ay sonundaki k\u00fcresel teknoloji sat\u0131\u015f\u0131yla geriledi. Ay\u0131n son i\u015flem g\u00fcn\u00fc olan 30 Ekim&#8217;de ise 10.760 ile ay\u0131n en d\u00fc\u015f\u00fck kapan\u0131\u015f\u0131n\u0131 yapt\u0131. Yani endeks ayl\u0131k bazda %9,94 de\u011fer kaybetti, 2025 y\u0131l\u0131 sonunun da alt\u0131na indi ve y\u0131l ba\u015f\u0131ndan bu yana %4,5 ekside. 11 May\u0131s&#8217;taki 15.133 rekorunun ise yakla\u015f\u0131k %29 alt\u0131nday\u0131z. Ama bu ay benim i\u00e7in as\u0131l hikaye fiyatlarda de\u011fil, a\u00e7\u0131klanmaya ba\u015flayan \u00fc\u00e7\u00fcnc\u00fc \u00e7eyrek bilan\u00e7olar\u0131nda. Onu da yaz\u0131n\u0131n ilerleyen k\u0131sm\u0131nda a\u00e7aca\u011f\u0131m.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"400\" src=\"https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-11-02-111149-1024x400.png\" alt=\"\" class=\"wp-image-3746\" srcset=\"https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-11-02-111149-1024x400.png 1024w, https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-11-02-111149-300x117.png 300w, https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-11-02-111149-768x300.png 768w, https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-11-02-111149.png 1453w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>Bu ay i\u00e7erik taraf\u0131na devam ettim. Finansal \u00d6zg\u00fcrl\u00fck Kul\u00fcb\u00fc podcast&#8217;inde de yeni b\u00f6l\u00fcmler yay\u0131na girdi. \u0130lk b\u00f6l\u00fcm\u00fcm\u00fcz getiri s\u0131ras\u0131 riski ve borsay\u0131 zamanlamaya \u00e7al\u0131\u015fmakla ilgiliydi.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-spotify wp-block-embed-spotify wp-embed-aspect-21-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe title=\"Spotify Embed: Getiri S\u0131ras\u0131 Riski ve Borsay\u0131 Zamanlamak | F\u00d6K #55\" style=\"border-radius: 12px\" width=\"100%\" height=\"152\" frameborder=\"0\" allowfullscreen allow=\"autoplay; clipboard-write; encrypted-media; fullscreen; picture-in-picture\" loading=\"lazy\" src=\"https:\/\/open.spotify.com\/embed\/episode\/57XFrIjpER332FvfLCJoK8?si=S5Nl-LRHTDO8kzBbz08xKA&amp;utm_source=oembed\"><\/iframe>\n<\/div><\/figure>\n\n\n\n<p>\u0130kinci b\u00f6l\u00fcmde ise Warren Buffett, Charlie Munger ve Peter Lynch gibi borsa efsanelerinin ola\u011fan\u00fcst\u00fc getirilerinin arkas\u0131nda \u00fcst\u00fcn yetenek mi yoksa do\u011fru zamanda do\u011fru yerde olman\u0131n getirdi\u011fi \u015fans m\u0131 yat\u0131yor buna bakt\u0131k.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-spotify wp-block-embed-spotify wp-embed-aspect-21-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe title=\"Spotify Embed: Efsanelerden Portf\u00f6y Y\u00f6netim Dersleri | F\u00d6K #56\" style=\"border-radius: 12px\" width=\"100%\" height=\"152\" frameborder=\"0\" allowfullscreen allow=\"autoplay; clipboard-write; encrypted-media; fullscreen; picture-in-picture\" loading=\"lazy\" src=\"https:\/\/open.spotify.com\/embed\/episode\/3NGfdDgYMs4b2WpBJ1fyYn?si=lyjN3TxaTKG9HiXTOvA3zg&amp;utm_source=oembed\"><\/iframe>\n<\/div><\/figure>\n\n\n\n<p>Makale taraf\u0131nda da Polonyal\u0131 Mateusz&#8217;un (Inwestomat) hikayesini anlatt\u0131m. A\u015fa\u011f\u0131daki linkten ula\u015fabilirsiniz.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-x wp-block-embed-x\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"tr\" dir=\"ltr\">11 y\u0131lda maa\u015f\u0131n\u0131n ortalama %60&#39;\u0131ndan fazlas\u0131n\u0131 biriktirdi. \u0130sve\u00e7&#39;te arkada\u015flar\u0131 ayl\u0131k 6-7 bin zlotiye ev tutarken o 2 bin zlotilik 30 metrekarelik dairede oturdu. Bug\u00fcn ise sermayesi maa\u015f\u0131n\u0131n yerini alm\u0131\u015f durumda.<br><br>Polonyal\u0131 Mateusz&#39;un hikayesini anlatt\u0131m. Keyifli okumalar. <a href=\"https:\/\/t.co\/4y4o1j5Ven\">https:\/\/t.co\/4y4o1j5Ven<\/a> <a href=\"https:\/\/t.co\/F2T3ed2GlM\">pic.twitter.com\/F2T3ed2GlM<\/a><\/p>&mdash; Bay Tutumlu (@BayTutumlu) <a href=\"https:\/\/x.com\/BayTutumlu\/status\/2113180609350611040?ref_src=twsrc%5Etfw\">October 22, 2026<\/a><\/blockquote><script async src=\"https:\/\/platform.x.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>Patreon taraf\u0131nda da benzer \u015fekilde i\u00e7eriklere devam ettim. Ekim ay\u0131nda Mavi \u015firketinin de\u011ferlemesini yapt\u0131m, bunun yan\u0131nda Avrupakent GYO ve Yeo Teknoloji yat\u0131r\u0131m tezlerini yay\u0131nlad\u0131m. 3. \u00e7eyrek bilan\u00e7o d\u00f6nemi i\u00e7erisinde oldu\u011fumuz i\u00e7in bilan\u00e7o analizlerini de payla\u015fmaya devam ediyorum.<\/p>\n\n\n\n<p>Bunun yan\u0131nda hesab\u0131m \u00fczerinden ula\u015fabilece\u011finiz 24 dersten olu\u015fan &#8220;Bilan\u00e7o ve Finansal Tablo Okuma E\u011fitimi&#8221; de yay\u0131na girdi. A\u015fa\u011f\u0131daki linkten detaylar\u0131na ula\u015fabilirsiniz.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/2026-09-30-bilano-okuma-eitimi-promo-card-1024x576.png\" alt=\"\" class=\"wp-image-3747\" srcset=\"https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/2026-09-30-bilano-okuma-eitimi-promo-card-1024x576.png 1024w, https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/2026-09-30-bilano-okuma-eitimi-promo-card-300x169.png 300w, https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/2026-09-30-bilano-okuma-eitimi-promo-card-768x432.png 768w, https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/2026-09-30-bilano-okuma-eitimi-promo-card.png 1200w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Jeopolitik Geli\u015fmeler<\/strong><\/h2>\n\n\n\n<p>\u015eimdi g\u00fcncel geli\u015fmelere d\u00f6nelim. Ge\u00e7en ay petrol\u00fcn 90 ile 106 dolar aras\u0131nda sal\u0131nd\u0131\u011f\u0131n\u0131 ve bu sal\u0131n\u0131m\u0131n taban\u0131n\u0131n yukar\u0131 kayd\u0131\u011f\u0131n\u0131 yazm\u0131\u015ft\u0131m. Ekimde taban bir kez daha yukar\u0131 ta\u015f\u0131nd\u0131. Ay\u0131n ilk yar\u0131s\u0131nda \u00fc\u00e7 geli\u015fme \u00fcst \u00fcste geldi. \u0130ran H\u00fcrm\u00fcz Bo\u011faz\u0131&#8217;ndaki gemilere y\u00f6nelik sald\u0131r\u0131lar\u0131n\u0131 art\u0131rd\u0131, Yemen&#8217;deki Husiler Suudi Arabistan&#8217;\u0131n enerji tesislerini hedef ald\u0131 ve Trump&#8217;\u0131n Rusya ile Ukrayna aras\u0131nda sa\u011flamaya \u00e7al\u0131\u015ft\u0131\u011f\u0131 enerji ate\u015fkesi \u00e7\u00f6k\u00fcnce Ukrayna Rus rafinerilerine sald\u0131r\u0131lar\u0131n\u0131 yeniden ba\u015flatt\u0131. ABD Merkez Kuvvetler Komutanl\u0131\u011f\u0131&#8217;na g\u00f6re \u0130ran bu d\u00f6nemde GFS Pride adl\u0131 bir konteyner gemisini bat\u0131rd\u0131, bas\u0131na yans\u0131yan bilgilere g\u00f6re ise en az 9 gemi sald\u0131r\u0131ya u\u011frad\u0131. Brent 16 Ekim&#8217;de may\u0131stan bu yana ilk kez 110 dolar\u0131 g\u00f6rd\u00fc.<\/p>\n\n\n\n<p>Ay\u0131n ikinci yar\u0131s\u0131nda da tablo sakinle\u015fmedi. \u0130ran Devrim Muhaf\u0131zlar\u0131 21 Ekim&#8217;de H\u00fcrm\u00fcz&#8217;\u00fcn g\u00fcneyinde iki petrol tankerinin may\u0131na \u00e7arpt\u0131\u011f\u0131n\u0131 duyurdu. Katar arabuluculu\u011funda Doha&#8217;da s\u00fcren g\u00f6r\u00fc\u015fmelerden ise ay sonuna kadar bir ate\u015fkes \u00e7\u0131kmad\u0131. Trump, 3 Kas\u0131m&#8217;daki ara se\u00e7imlerden \u00f6nce \u0130ran&#8217;a yeni bir sald\u0131r\u0131 yap\u0131lmayaca\u011f\u0131n\u0131 s\u00f6ylemi\u015fti. Ay sonunda piyasan\u0131n g\u00fcndemine bu kez se\u00e7imlerin ard\u0131ndan sald\u0131r\u0131lar\u0131n yeniden ba\u015flayabilece\u011fi endi\u015fesi girdi ve 30 Ekim&#8217;de \u00fc\u00e7 tankerin daha sald\u0131r\u0131ya u\u011frad\u0131\u011f\u0131 bildirildi. Brent ay\u0131 112,3 dolardan kapatt\u0131. Eyl\u00fcl sonundaki 97,9 dolara g\u00f6re yakla\u015f\u0131k %14,7&#8217;lik bir art\u0131\u015f var.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"337\" src=\"https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-11-02-112706-1024x337.png\" alt=\"\" class=\"wp-image-3748\" srcset=\"https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-11-02-112706-1024x337.png 1024w, https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-11-02-112706-300x99.png 300w, https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-11-02-112706-768x253.png 768w, https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-11-02-112706.png 1444w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">Yurti\u00e7i Piyasalar<\/h2>\n\n\n\n<p>T\u00fcrkiye&#8217;ye d\u00f6necek olursak, ekimin hikayesi eyl\u00fcl\u00fcn devam\u0131 oldu ama bu kez krizin hukuki \u00e7er\u00e7evesi netle\u015fti. Tasfiyesine karar verilen fonlara ili\u015fkin kanun teklifi 22 Ekim&#8217;de TBMM Genel Kurulu&#8217;nda kabul edildi ve 7596 say\u0131l\u0131 Kanun olarak 27 Ekim&#8217;de Resmi Gazete&#8217;de yay\u0131mland\u0131. Kanuna g\u00f6re net yat\u0131r\u0131m\u0131 1 milyon liran\u0131n alt\u0131nda olan yat\u0131r\u0131mc\u0131 tutar\u0131n tamam\u0131n\u0131, \u00fczerinde olan yat\u0131r\u0131mc\u0131 ise en fazla 1 milyon liray\u0131 ara \u00f6deme olarak alabilecek. \u0130lk ara \u00f6demeler 30 Ekim&#8217;de \u0130\u015f Bankas\u0131 ve Ziraat Bankas\u0131 \u00fczerinden ba\u015flad\u0131.<\/p>\n\n\n\n<p>Ay\u0131n en sert g\u00fcnlerinden biri yurt d\u0131\u015f\u0131ndan gelen bir kararla ya\u015fand\u0131. MSCI 15 Ekim ak\u015fam\u0131 T\u00fcrkiye endekslerinde art\u0131\u015f ve ekleme y\u00f6nl\u00fc de\u011fi\u015fiklikleri ikinci bir duyuruya kadar dondurdu. Kurulu\u015f, Haziran 2027&#8217;ye kadar fiili dola\u015f\u0131m ve \u015feffafl\u0131k konusunda yeterli ilerleme g\u00f6rmezse T\u00fcrkiye&#8217;nin geli\u015fmekte olan piyasa stat\u00fcs\u00fc i\u00e7in isti\u015fare ba\u015flatabilece\u011fini de belirtti. BIST 100 ertesi g\u00fcn %2,89 geriledi. FTSE Russell ise 6 Ekim&#8217;de T\u00fcrkiye&#8217;yi izleme listesine almam\u0131\u015ft\u0131. Bence MSCI karar\u0131n\u0131n k\u0131sa vadeli etkisinden \u00e7ok 8 ay sonraki de\u011ferlendirme \u00f6nemli. Orada belirleyici olan a\u00e7\u0131klanan d\u00fczenlemelerin say\u0131s\u0131 de\u011fil uygulamada ne kadar tutarl\u0131 olduklar\u0131 olacak.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"695\" height=\"989\" src=\"https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-11-02-113046.png\" alt=\"\" class=\"wp-image-3749\" srcset=\"https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-11-02-113046.png 695w, https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-11-02-113046-211x300.png 211w\" sizes=\"auto, (max-width: 695px) 100vw, 695px\" \/><\/figure>\n\n\n\n<p>30 Ekim&#8217;de yay\u0131mlanan PPK toplant\u0131 \u00f6zetinde Merkez Bankas\u0131, ekimde g\u0131da ve enerji fiyatlar\u0131ndaki art\u0131\u015f nedeniyle ayl\u0131k enflasyonun eyl\u00fcle g\u00f6re h\u0131zlanabilece\u011fini, ancak bunun ana e\u011filime yans\u0131mas\u0131n\u0131n s\u0131n\u0131rl\u0131 kalmas\u0131n\u0131 bekledi\u011fini belirtti. \u0130\u00e7 talepte zay\u0131fl\u0131k devam ediyor. . A\u011fustosta sanayi \u00fcretimi y\u0131ll\u0131k %1,9 geriledi, bireysel kredilerde d\u00f6rt haftal\u0131k ortalama b\u00fcy\u00fcme %1&#8217;e indi. Bu tablo bana aral\u0131kta ikinci bir indirimin m\u00fcmk\u00fcn oldu\u011funu, ama h\u0131z\u0131n ekim enflasyonuna ve petrole ba\u011fl\u0131 kalaca\u011f\u0131n\u0131 d\u00fc\u015f\u00fcnd\u00fcr\u00fcyor.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Ki\u015fisel Portf\u00f6y<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"721\" height=\"459\" src=\"https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-11-02-093456.png\" alt=\"\" class=\"wp-image-3750\" srcset=\"https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-11-02-093456.png 721w, https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-11-02-093456-300x191.png 300w\" sizes=\"auto, (max-width: 721px) 100vw, 721px\" \/><\/figure>\n\n\n\n<p>Ekim ay\u0131 ki\u015fisel portf\u00f6y\u00fcm a\u00e7\u0131s\u0131ndan da nispeten hareketli bir ay oldu. D\u00fc\u015fen fiyatlardan ve \u00e7\u0131kan f\u0131rsatlardan yararlanmak amac\u0131yla baz\u0131 i\u015flemler yapt\u0131m. RYGYO hisselerimden bir miktar azaltarak PCILT ve RYSAS ekledim. Kalekim de tamamen portf\u00f6yden \u00e7\u0131kt\u0131. Sava\u015f\u0131n en fazla olumsuz etkiledi\u011fi \u015firketlerden birisi ve toparlanma da uzun s\u00fcrecek gibi g\u00f6r\u00fcn\u00fcyor. \u015eimdi \u00f6ncelikle portf\u00f6ye giren \u015firketlere bakal\u0131m.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>RYSAS<\/strong><\/h3>\n\n\n\n<p>Portf\u00f6ye giren ilk \u015firket Reysa\u015f Ta\u015f\u0131mac\u0131l\u0131k ve Lojistik. \u015eirket, portf\u00f6y\u00fcmde yer alan Reysa\u015f GYO&#8217;nun ana orta\u011f\u0131. Reysa\u015f Lojistik, Reysa\u015f GYO sermayesinin %62&#8217;sine sahip. Basit bir hesap yapt\u0131m. 30 Ekim kapan\u0131\u015f\u0131yla Reysa\u015f GYO&#8217;nun piyasa de\u011feri 102,5 milyar lira, bunun %62&#8217;si yakla\u015f\u0131k 63,6 milyar lira ediyor. Reysa\u015f Lojistik&#8217;in piyasa de\u011feri ise 49,5 milyar lira. Yani piyasa, \u015firketi elindeki GYO pay\u0131n\u0131n borsa de\u011ferinin alt\u0131nda fiyatl\u0131yor. Dolay\u0131s\u0131yla RYSAS&#8217;\u0131 asl\u0131nda daha ucuza RYGYO pay\u0131 almak i\u00e7in kullan\u0131yorum. A\u015fa\u011f\u0131da bir grafik payla\u015faca\u011f\u0131m. Bu grafikteki rakam 1&#8217;in \u00fczerinde kald\u0131\u011f\u0131 s\u00fcrece RYSAS&#8217;\u0131 RYGYO paylar\u0131n\u0131 ar\u0131nd\u0131rd\u0131\u011f\u0131m\u0131zda bedavaya alabiliyoruz.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"754\" src=\"https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-11-02-113530-1024x754.png\" alt=\"\" class=\"wp-image-3755\" srcset=\"https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-11-02-113530-1024x754.png 1024w, https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-11-02-113530-300x221.png 300w, https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-11-02-113530-768x566.png 768w, https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-11-02-113530-1536x1132.png 1536w, https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-11-02-113530.png 1622w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>PCILT<\/strong><\/h3>\n\n\n\n<p>\u0130kinci yeni \u015firket PC \u0130leti\u015fim ve Medya. 30 Ekim kapan\u0131\u015f\u0131yla piyasa de\u011feri yakla\u015f\u0131k 3,3 milyar lira. Haziran sonu bilan\u00e7osuna g\u00f6re 1,15 milyar lira nakdi var ve net nakit pozisyonunda. A\u011fustosta 300 milyon lira nakit temett\u00fc da\u011f\u0131tt\u0131. 14 Eyl\u00fcl&#8217;de ba\u015flatt\u0131\u011f\u0131 geri al\u0131m program\u0131nda 13 Ekim&#8217;de azami fonu 100 milyon liradan 175 milyon liraya, azami pay say\u0131s\u0131n\u0131 ise sermayenin %4,2&#8217;sine denk gelen 5 milyon adede y\u00fckseltti. Ay i\u00e7inde ba\u011fl\u0131 ortakl\u0131\u011f\u0131 Media Connect, Do\u011fta\u015f, Kelebek ve Lova markalar\u0131n\u0131n sahibi Do\u011fanlar Mobilya Grubu ile medya planlama ve sat\u0131n alma anla\u015fmas\u0131 yapt\u0131. Ayr\u0131ca d\u00fczenli \u015fekilde temett\u00fc da\u011f\u0131tan ve her y\u0131l da temett\u00fcs\u00fcn\u00fc art\u0131ran bir \u015firket. Seneye de en az\u0131ndan 3 TL temett\u00fc beklentim var.<\/p>\n\n\n\n<p>\u015eimdi portf\u00f6ydeki \u015firketlerle ilgili ekim ay\u0131 geli\u015fmelerine bakal\u0131m. T\u00fcm \u015firketleri yazmayaca\u011f\u0131m, sadece \u00f6nemli geli\u015fme olanlar\u0131 payla\u015fmay\u0131 d\u00fc\u015f\u00fcn\u00fcyorum. Torunlar GYO, T\u00fcrk Tuborg ve R\u00f6nesans Gayrimenkul taraf\u0131nda bu ay kayda de\u011fer bir \u015firket haberi olmad\u0131. Torunlar %4,8 geriledi. Ocak ay\u0131nda sat\u0131n ald\u0131\u011f\u0131 Forum Mersin ve Forum Kayseri AVM&#8217;lerinin nihai devir bedelleri finansal denetim sonras\u0131 218,0 milyon ve 131,9 milyon avro olarak kesinle\u015fti. Tuborg %9,6 d\u00fc\u015f\u00fc\u015fle 109,10 liradan kapatt\u0131, yaz sezonunun yans\u0131yaca\u011f\u0131 \u00fc\u00e7\u00fcnc\u00fc \u00e7eyrek bilan\u00e7osunu bekliyorum. R\u00f6nesans Gayrimenkul&#8217;de 7 Ekim hak kullan\u0131m tarihiyle pay ba\u015f\u0131na 7,82 lira br\u00fct temett\u00fc da\u011f\u0131t\u0131ld\u0131. Hisse temett\u00fc dahil yakla\u015f\u0131k %7,3 de\u011fer kaybetti.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>GLYHO<\/strong><\/h3>\n\n\n\n<p>Global Yat\u0131r\u0131m Holding ekim ay\u0131n\u0131 yatay tamamlad\u0131. \u015eirket taraf\u0131nda bu ay haber ak\u0131\u015f\u0131 yo\u011fundu. 19 Ekim&#8217;de a\u00e7\u0131klanan eyl\u00fcl yolcu istatistiklerinde konsolide gemi say\u0131s\u0131 y\u0131ll\u0131k %14, konsolide yolcu hareketleri %12 artt\u0131. A\u011fustos doluluk oran\u0131 konsolide bazda %114 oldu. Konsolide olmayan limanlar dahil eyl\u00fclde 648 gemi ve 1.773.099 yolcu a\u011f\u0131rlanm\u0131\u015f. A\u011fustostaki %9 ve %13&#8217;l\u00fck art\u0131\u015flar\u0131n ard\u0131ndan ivme korunmu\u015f g\u00f6r\u00fcn\u00fcyor.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"634\" height=\"357\" src=\"https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-10-20-090147.png\" alt=\"\" class=\"wp-image-3752\" srcset=\"https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-10-20-090147.png 634w, https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-10-20-090147-300x169.png 300w\" sizes=\"auto, (max-width: 634px) 100vw, 634px\" \/><\/figure>\n\n\n\n<p>Ay sonuna do\u011fru iki \u00f6nemli liman haberi geldi. 26 Ekim&#8217;de dolayl\u0131 ba\u011fl\u0131 ortakl\u0131k Global Ports Holding, St. Vincent ve Grenadinler&#8217;in ba\u015fkenti Kingstown&#8217;daki kruvaziyer liman\u0131 i\u00e7in 30 y\u0131ll\u0131k imtiyaz s\u00f6zle\u015fmesi imzalad\u0131. Operasyonlar\u0131n 2027&#8217;nin ilk \u00e7eyre\u011finde ba\u015flamas\u0131 bekleniyor ve liman\u0131n 2026\/27 sezonunda 250 binin \u00fczerinde yolcu a\u011f\u0131rlamas\u0131 \u00f6ng\u00f6r\u00fcl\u00fcyor. 30 Ekim&#8217;de ise Barselona&#8217;daki imtiyaz s\u00f6zle\u015fmesinde yap\u0131lan de\u011fi\u015fikli\u011fin onayland\u0131\u011f\u0131 a\u00e7\u0131kland\u0131. Buna g\u00f6re limanda toplam 104,5 milyon avroluk yat\u0131r\u0131mla 11.253 metrekarelik yeni bir terminal (Terminal C) in\u015fa edilecek. Benim i\u00e7in daha \u00f6nemli olan ikinci k\u0131s\u0131m. 2030&#8217;da sona erecek imtiyaz s\u00fcresi 2050&#8217;ye uzat\u0131ld\u0131 ve 2053&#8217;e kadar ek uzatma opsiyonu var. Liman i\u015fletmecili\u011finde imtiyaz s\u00fcresi de\u011ferin en \u00f6nemli belirleyicilerinden biri. Avrupa&#8217;n\u0131n en b\u00fcy\u00fck kruvaziyer limanlar\u0131ndan birinde s\u00fcreyi 20 y\u0131l uzatmak, uzun vadeli de\u011fer a\u00e7\u0131s\u0131ndan bence olumlu bir geli\u015fme.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"984\" height=\"514\" src=\"https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-10-20-090338.png\" alt=\"\" class=\"wp-image-3753\" srcset=\"https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-10-20-090338.png 984w, https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-10-20-090338-300x157.png 300w, https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-10-20-090338-768x401.png 768w\" sizes=\"auto, (max-width: 984px) 100vw, 984px\" \/><\/figure>\n\n\n\n<p>Ortakl\u0131k taraf\u0131nda Mehmet Kutman al\u0131mlar\u0131n\u0131 s\u00fcrd\u00fcrd\u00fc. 6 Ekim&#8217;de 16,88 liradan 500 bin, 8 Ekim&#8217;de 16,90 liradan 4 milyon adet pay ald\u0131 ve birlikte hareket etti\u011fi taraflarla toplam pay\u0131 %36,61&#8217;e \u00e7\u0131kt\u0131. 15 Ekim&#8217;de ise Kutman&#8217;\u0131n tek yat\u0131r\u0131mc\u0131s\u0131 oldu\u011fu Rota Portf\u00f6y Abis Hisse Senedi Serbest \u00d6zel Fonu, \u015firket sermayesinin %17,18&#8217;i i\u00e7in pay sat\u0131\u015f bilgi formu yay\u0131mlad\u0131. Kutman bu paylar\u0131 fonun tasfiyesiyle birlikte yeniden do\u011frudan sahiplenmek istiyor ve toplam pay\u0131 de\u011fi\u015fmeyecek. \u00d6zel fonlar \u00fczerinden tutulan paylar\u0131n g\u00f6r\u00fcn\u00fcr hale gelmesi, MSCI&#8217;\u0131n bekledi\u011fi \u015feffafl\u0131k ad\u0131mlar\u0131na da iyi bir \u00f6rnek. Global en g\u00fcvendi\u011fim \u015firketlerimden biri olmaya devam ediyor.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>RYGYO<\/strong><\/h3>\n\n\n\n<p>Reysa\u015f GYO ekimde portf\u00f6y\u00fcm\u00fcn en iyi performans g\u00f6steren hissesi oldu. 48,10&#8217;dan 51,25&#8217;e \u00e7\u0131karak %6,6 de\u011fer kazand\u0131. 28 Ekim&#8217;de a\u00e7\u0131klanan \u00fc\u00e7\u00fcnc\u00fc \u00e7eyrek bilan\u00e7osunda dokuz ayl\u0131k has\u0131lat 3,16 milyar lira oldu. Enflasyon muhasebesi d\u00fczeltmeli rakamlarla ge\u00e7en y\u0131l\u0131n ayn\u0131 d\u00f6nemindeki 3,45 milyar liraya g\u00f6re reel bazda yakla\u015f\u0131k %8,6&#8217;l\u0131k bir d\u00fc\u015f\u00fc\u015f var. FAV\u00d6K 2,87 milyar lira ile %4,5 geriledi. 9 ayl\u0131k net kar 3,82 milyar lira.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"450\" src=\"https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-11-02-114350-1-1024x450.png\" alt=\"\" class=\"wp-image-3754\" srcset=\"https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-11-02-114350-1-1024x450.png 1024w, https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-11-02-114350-1-300x132.png 300w, https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-11-02-114350-1-768x337.png 768w, https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-11-02-114350-1.png 1446w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>B\u00fcy\u00fcme taraf\u0131nda ise bu ay iki somut ad\u0131m geldi. 21 Ekim&#8217;de \u015firket, 2025&#8217;te \u00d6zelle\u015ftirme \u0130daresi ihalesiyle ald\u0131\u011f\u0131 Tuzla&#8217;daki arsalar\u0131n en b\u00fcy\u00fc\u011f\u00fc \u00fczerinde 98.258 metrekare kapal\u0131 alana sahip depo i\u00e7in in\u015faat ruhsat\u0131 ald\u0131\u011f\u0131n\u0131 a\u00e7\u0131klad\u0131. \u0130n\u015faat 2 Kas\u0131m&#8217;da ba\u015flayacak ve projenin 30 Eyl\u00fcl 2027&#8217;ye kadar tamamlanmas\u0131 planlan\u0131yor. 26 Ekim&#8217;de ise Adana Sar\u0131\u00e7am&#8217;daki 37.257 metrekarelik depo i\u00e7in ruhsat al\u0131nd\u0131 ve in\u015faat ayn\u0131 g\u00fcn ba\u015flad\u0131. Bu deponun 2027&#8217;nin ikinci \u00e7eyre\u011finde bitirilmesi hedefleniyor. \u0130ki proje birlikte yakla\u015f\u0131k 135 bin metrekare yeni kapal\u0131 alan anlam\u0131na geliyor. Tuzla&#8217;daki ikinci b\u00fcy\u00fck parsel i\u00e7in de ruhsat s\u00fcrecinin son a\u015famaya geldi\u011fi belirtiliyor. Depo portf\u00f6y\u00fcn\u00fcn b\u00fcy\u00fcmesi zaten tezimin merkezinde duruyordu. Bu ad\u0131mlar\u0131n kira gelirine yans\u0131mas\u0131n\u0131 2027 ve 2028&#8217;de g\u00f6rmeyi bekliyorum.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>CVKMD<\/strong><\/h3>\n\n\n\n<p>CVK Maden ekime geri al\u0131m program\u0131yla ba\u015flad\u0131. \u015eirket 8 Ekim&#8217;de bir ay s\u00fcreli, en fazla 100 milyon nominal pay\u0131, yani sermayenin %2,65&#8217;ini kapsayan ve 1,4 milyar liral\u0131k fon ayr\u0131lan bir program ba\u015flatt\u0131. Hisse bu haberin ard\u0131ndan 13,90 seviyesine kadar y\u00fckseldi. Ay\u0131n geri kalan\u0131nda ise ons alt\u0131ndaki d\u00fc\u015f\u00fc\u015fle birlikte geriledi. 30 Ekim&#8217;de madencilik endeksinin %9,86 d\u00fc\u015ft\u00fc\u011f\u00fc g\u00fcnde ay\u0131n en d\u00fc\u015f\u00fck seviyesine indi ve ekimi 11,15&#8217;ten kapatt\u0131. Ayl\u0131k kay\u0131p %7,9.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"409\" src=\"https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-11-02-114439-1024x409.png\" alt=\"\" class=\"wp-image-3756\" srcset=\"https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-11-02-114439-1024x409.png 1024w, https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-11-02-114439-300x120.png 300w, https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-11-02-114439-768x306.png 768w, https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-11-02-114439.png 1441w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>12 Ekim&#8217;de ise %96,2 oran\u0131nda sahip oldu\u011fu ba\u011fl\u0131 ortakl\u0131\u011f\u0131 Hayri \u00d6gelman Madencilik&#8217;in halka arz\u0131 i\u00e7in SPK&#8217;ya ba\u015fvurdu. Planlanan yap\u0131da 250 milyon nominal pay sermaye art\u0131r\u0131m\u0131yla, 125 milyon nominal pay ise ortak sat\u0131\u015f\u0131yla halka arz edilecek. Ortak sat\u0131\u015f\u0131n\u0131n 100 milyon nominal pay\u0131 CVK Maden&#8217;den, 25 milyon nominal pay\u0131 y\u00f6netim kurulu ba\u015fkan\u0131 H\u00fcseyin \u00c7evik&#8217;ten geliyor. Yetkili arac\u0131 kurum Vak\u0131f Yat\u0131r\u0131m. Ba\u011fl\u0131 ortakl\u0131\u011f\u0131n borsada i\u015flem g\u00f6rmesi grup i\u00e7indeki de\u011ferin daha g\u00f6r\u00fcn\u00fcr olmas\u0131n\u0131 sa\u011flayabilir.<\/p>\n\n\n\n<p>26 Ekim&#8217;de a\u00e7\u0131klanan \u00fc\u00e7\u00fcnc\u00fc \u00e7eyrek bilan\u00e7osu ise Sar\u0131alan&#8217;\u0131n etkisini g\u00f6stermeye ba\u015flad\u0131. Dokuz ayl\u0131k has\u0131lat 5,58 milyar lira ile ge\u00e7en y\u0131l\u0131n ayn\u0131 d\u00f6nemindeki 3,11 milyar liran\u0131n belirgin \u00fczerinde. FAV\u00d6K 807 milyon liradan 2,50 milyar liraya, ana ortakl\u0131\u011fa ait net kar 508 milyon liradan 1,86 milyar liraya \u00e7\u0131kt\u0131. Bilan\u00e7oda da \u00f6nemli bir de\u011fi\u015fim var. Haziran sonunda 3,93 milyar lira olan net bor\u00e7 eyl\u00fcl sonunda 1,46 milyar liraya indi, nakit ise 557 milyon liradan 3,19 milyar liraya y\u00fckseldi. Haftal\u0131k b\u00fcltende geri al\u0131ma ayr\u0131lan 1,4 milyar liran\u0131n haziran sonundaki nakde g\u00f6re y\u00fcksek oldu\u011funu yazm\u0131\u015ft\u0131m. Eyl\u00fcl sonu bilan\u00e7osuyla bu a\u00e7\u0131dan tablo daha rahat g\u00f6r\u00fcn\u00fcyor.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>TATGD<\/strong><\/h3>\n\n\n\n<p>Tat G\u0131da %11,5 geriledi ve ekimi 14,00 liradan kapatt\u0131. 26 Ekim&#8217;de a\u00e7\u0131klanan \u00fc\u00e7\u00fcnc\u00fc \u00e7eyrek bilan\u00e7osunu ayr\u0131nt\u0131l\u0131 olarak inceledim. \u00d6zetle \u015firket ciro kaybetti ama marj kazand\u0131. Dokuz ayl\u0131k reel has\u0131lat %2 geriledi, buna kar\u015f\u0131l\u0131k dokuz ayl\u0131k br\u00fct kar %32,7 artarak 1,46 milyar liraya \u00e7\u0131kt\u0131 ve br\u00fct marj %14,2&#8217;den %19,3&#8217;e y\u00fckseldi. Dokuz ayl\u0131k serbest nakit ak\u0131\u015f\u0131 911 milyon lira oldu ve net bor\u00e7 y\u0131l sonuna g\u00f6re %27 azald\u0131. Ana ortakl\u0131\u011fa ait dokuz ayl\u0131k net kar 482 milyon lira, ge\u00e7en y\u0131l ayn\u0131 d\u00f6nemde 67 milyon lira zarar vard\u0131.<\/p>\n\n\n\n<p>\u00dc\u00e7\u00fcnc\u00fc \u00e7eyrek domates i\u015fleme sezonu oldu\u011fu i\u00e7in \u015firket ciddi manada stok yapm\u0131\u015f. Bu stoklar\u0131n \u00f6n\u00fcm\u00fczeki \u00e7eyreklerde sat\u0131\u015fa ve serbest nakde d\u00f6nmesini bekliyorum. \u015eirket \u00e7ok \u00e7ok ucuz \u00e7arpanlarla fiyatlan\u0131yor.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>TUPRS<\/strong><\/h3>\n\n\n\n<p>T\u00fcpra\u015f bu ay ilgin\u00e7 bir ayr\u0131\u015fma ya\u015fad\u0131. Brent %14,7 y\u00fckselirken hisse %8,7 geriledi, 376,25&#8217;ten 343,50&#8217;ye indi ve ay\u0131 en d\u00fc\u015f\u00fck seviyesine yak\u0131n kapatt\u0131. Petrol fiyat\u0131n\u0131n y\u00fckselmesi rafineri i\u00e7in her zaman olumlu de\u011fil. Belirleyici olan \u00fcr\u00fcn fiyatlar\u0131yla ham petrol aras\u0131ndaki fark, yani rafineri marj\u0131. Ekimde Rusya ve Orta Do\u011fu&#8217;daki rafineri kesintileri dizel fiyatlar\u0131n\u0131 yukar\u0131 ta\u015f\u0131d\u0131, bu da marjlar a\u00e7\u0131s\u0131ndan destekleyici olabilir. Hissedeki d\u00fc\u015f\u00fc\u015f\u00fcn daha \u00e7ok genel piyasadaki sat\u0131\u015f bask\u0131s\u0131yla ilgili oldu\u011funu d\u00fc\u015f\u00fcn\u00fcyorum.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"452\" src=\"https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-11-02-115139-1024x452.png\" alt=\"\" class=\"wp-image-3757\" srcset=\"https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-11-02-115139-1024x452.png 1024w, https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-11-02-115139-300x132.png 300w, https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-11-02-115139-768x339.png 768w, https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-11-02-115139.png 1436w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>\u00dc\u00e7\u00fcnc\u00fc \u00e7eyrek bilan\u00e7osu 6 Kas\u0131m&#8217;da a\u00e7\u0131klanacak. Eyl\u00fcl marj verilerinin iyi geldi\u011fini haftal\u0131k b\u00fcltende yazm\u0131\u015ft\u0131m. G\u00fc\u00e7l\u00fc bir \u00e7eyrek ve ard\u0131ndan yine y\u00fcksek bir temett\u00fc bekliyorum, ama bunu bilan\u00e7o geldi\u011finde g\u00f6rece\u011fiz.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>ISMEN<\/strong><\/h3>\n\n\n\n<p>\u0130\u015f Yat\u0131r\u0131m ekimde %14,9 geriledi ve 25,22&#8217;den kapatt\u0131. Tezimin faiz indirim d\u00f6ng\u00fcs\u00fcne ba\u011fl\u0131 oldu\u011funu yazm\u0131\u015ft\u0131m ve ekimde ilk ad\u0131m geldi. Buna ra\u011fmen hisse bankac\u0131l\u0131k endeksinin yakla\u015f\u0131k \u00fc\u00e7 kat\u0131 kadar de\u011fer kaybetti. Bence burada iki etken var. Birincisi fon krizinin arac\u0131 kurum ve portf\u00f6y y\u00f6netimi taraf\u0131na y\u00f6nelik alg\u0131y\u0131 bozmas\u0131. \u0130kincisi i\u015flem hacmindeki d\u00fc\u015f\u00fc\u015f. BIST 100&#8217;de g\u00fcnl\u00fck ortalama hacmin kriz \u00f6ncesine g\u00f6re neredeyse yar\u0131ya inmesi, arac\u0131 kurumlar\u0131n komisyon gelirleri i\u00e7in do\u011frudan olumsuz. Ayr\u0131ca kredili i\u015flemlerde de sert d\u00fc\u015f\u00fc\u015fler var. Bunun yan\u0131nda 5 adet arac\u0131 kurumun faaliyetlerine son vermi\u015f olmas\u0131 di\u011fer kurumlar\u0131n pay\u0131n\u0131 art\u0131racakt\u0131r. Ge\u00e7en ay da yazd\u0131\u011f\u0131m gibi \u00fc\u00e7\u00fcnc\u00fc \u00e7eyrek bilan\u00e7osu zay\u0131f gelirse pozisyonu yeniden de\u011ferlendirece\u011fim.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"438\" src=\"https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-11-02-115324-1024x438.png\" alt=\"\" class=\"wp-image-3758\" srcset=\"https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-11-02-115324-1024x438.png 1024w, https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-11-02-115324-300x128.png 300w, https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-11-02-115324-768x328.png 768w, https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-11-02-115324.png 1451w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>TRCAS<\/strong><\/h3>\n\n\n\n<p>Turcas ekimi %5,2 y\u00fckseli\u015fle 43,44&#8217;ten kapatt\u0131 ve portf\u00f6yde ay\u0131 art\u0131da kapatan \u00fc\u00e7 \u015firketten biri oldu. 22 Ekim&#8217;de %30 oran\u0131ndaki i\u015ftiraki Shell &amp; Turcas Petrol&#8217;\u00fcn 2025 y\u0131l\u0131 kar\u0131ndan 2,5 milyar liral\u0131k kar da\u011f\u0131t\u0131m\u0131 karar\u0131 ald\u0131\u011f\u0131n\u0131 ve Turcas pay\u0131na d\u00fc\u015fen 750 milyon liran\u0131n hesaplar\u0131na ge\u00e7ti\u011fini a\u00e7\u0131klad\u0131. Burada \u015firketin beklentisi 450 milyon TL idi. 30 Ekim kapan\u0131\u015f\u0131yla Turcas&#8217;\u0131n piyasa de\u011feri yakla\u015f\u0131k 11,1 milyar lira. Yani tek seferde gelen bu nakit piyasa de\u011ferinin yakla\u015f\u0131k %7&#8217;sine denk geliyor. Bu nakdin ortaklara temett\u00fc olarak m\u0131 da\u011f\u0131t\u0131laca\u011f\u0131n\u0131 yoksa yeni yat\u0131r\u0131mlarda m\u0131 kullan\u0131laca\u011f\u0131n\u0131 takip edece\u011fim.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"402\" src=\"https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-11-02-115419-1024x402.png\" alt=\"\" class=\"wp-image-3759\" srcset=\"https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-11-02-115419-1024x402.png 1024w, https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-11-02-115419-300x118.png 300w, https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-11-02-115419-768x301.png 768w, https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-11-02-115419.png 1433w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Eurobond Portf\u00f6y\u00fc<\/strong><\/h2>\n\n\n\n<p>Ekim ay\u0131nda eurobond portf\u00f6y\u00fcnde herhangi bir de\u011fi\u015fiklik yapmad\u0131m. Toplamda 190 $ kupon geliri elde ettim. T\u00fcrkiye&#8217;nin 5 y\u0131ll\u0131k CDS&#8217;i eyl\u00fclde 251 baz puana y\u00fckselmi\u015fti, ekimde ise 240 ile 260 baz puan aras\u0131nda yatay bir seyir izledi. Fon krizinin etkisi \u015fimdilik risk primine ek bir y\u00fck getirmiyor gibi g\u00f6r\u00fcn\u00fcyor. Eurobond fiyatlar\u0131 i\u00e7in as\u0131l bask\u0131 k\u00fcresel faizlerden geliyor. ABD 10 y\u0131ll\u0131k tahvil faizi ay\u0131n ilk haftas\u0131nda %5,36 ile 2002&#8217;den bu yana en y\u00fcksek seviyeyi g\u00f6rd\u00fc, ay ortas\u0131nda hisse sat\u0131\u015f\u0131yla birlikte %5&#8217;in biraz alt\u0131na geriledi ve 28 Ekim&#8217;de yeniden %5&#8217;in \u00fczerinde kapatt\u0131. Fed&#8217;in aral\u0131kta faiz art\u0131rma ihtimali masada kald\u0131k\u00e7a bu bask\u0131n\u0131n k\u0131sa s\u00fcrede kalkmas\u0131n\u0131 beklemiyorum.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"943\" height=\"345\" src=\"https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-11-02-093601.png\" alt=\"\" class=\"wp-image-3760\" srcset=\"https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-11-02-093601.png 943w, https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-11-02-093601-300x110.png 300w, https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-11-02-093601-768x281.png 768w\" sizes=\"auto, (max-width: 943px) 100vw, 943px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>ABD Portf\u00f6y\u00fc<\/strong><\/h2>\n\n\n\n<p>Yurt d\u0131\u015f\u0131nda ekimin ana ba\u015fl\u0131klar\u0131 yapay zeka hisselerindeki sat\u0131\u015f ve Fed&#8217;in bir sonraki ad\u0131m\u0131 oldu. S&amp;P 500 ay\u0131n ilk haftas\u0131nda 7.819 ile rekor kapan\u0131\u015f yapt\u0131. Sonras\u0131nda Broadcom CEO&#8217;su Hock Tan&#8217;\u0131n yapay zeka yat\u0131r\u0131mlar\u0131n\u0131 kumarhane davran\u0131\u015f\u0131na benzetmesi ve ASML&#8217;nin talebi tam kar\u015f\u0131layamad\u0131\u011f\u0131n\u0131 s\u00f6ylemesi \u00e7ip hisselerinde bir sat\u0131\u015f dalgas\u0131 ba\u015flatt\u0131. G\u00fcney Kore&#8217;nin Kospi 200 endeksi 15 Ekim&#8217;i 16 Ekim&#8217;e ba\u011flayan gece %8&#8217;in \u00fczerinde d\u00fc\u015ft\u00fc ve devre kesiciler devreye girdi. Ay ortas\u0131nda a\u00e7\u0131klanan eyl\u00fcl enflasyonu sat\u0131\u015f\u0131 derinle\u015ftirdi. ABD&#8217;de T\u00dcFE y\u0131ll\u0131k %3,7&#8217;ye \u00e7\u0131kt\u0131 ve beklentiyi a\u015ft\u0131, ard\u0131ndan gelen \u00dcFE ise y\u0131ll\u0131k %6,3 oldu. Ay\u0131n son g\u00fcnlerinde de Amazon ve Intel&#8217;in bilan\u00e7olar\u0131 yapay zekaya yap\u0131lan dev yat\u0131r\u0131mlar\u0131n ne zaman kar\u015f\u0131l\u0131k verece\u011fi sorusunu yeniden g\u00fcndeme getirdi. Intel tek g\u00fcnde %30&#8217;un \u00fczerinde de\u011fer kaybetti.<\/p>\n\n\n\n<p>S&amp;P 500 ekimi %0,9 d\u00fc\u015f\u00fc\u015fle tamamlad\u0131, teknoloji a\u011f\u0131rl\u0131kl\u0131 Nasdaq %6,6 geriledi, Dow Jones ise %1,7 y\u00fckseldi. Ge\u00e7en ay y\u00fcksek faiz ortam\u0131nda yat\u0131r\u0131mc\u0131lar\u0131n b\u00fcy\u00fcme hikayesi olan teknoloji \u015firketlerini tercih etti\u011fini yazm\u0131\u015ft\u0131m. Ekimde bu tercih tersine d\u00f6nd\u00fc. Kendi portf\u00f6y\u00fcmde herhangi bir al\u0131m ya da sat\u0131m yapmad\u0131m. K\u0131z\u0131m\u0131n portf\u00f6y\u00fcne az miktarda VOO ekledik.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"551\" height=\"187\" src=\"https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-11-02-115826.png\" alt=\"\" class=\"wp-image-3761\" srcset=\"https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-11-02-115826.png 551w, https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-11-02-115826-300x102.png 300w\" sizes=\"auto, (max-width: 551px) 100vw, 551px\" \/><\/figure><\/div>\n\n\n<p>Duru\u015fumu de\u011fi\u015ftirmiyorum. De\u011ferlemeler hala sorunlu, 10 y\u0131ll\u0131k tahvil %5 civar\u0131nda getiri sunuyor ve Fed&#8217;in bir art\u0131r\u0131m daha yapma ihtimali y\u00fcksek. Bu ortamda pozisyon b\u00fcy\u00fctmek yerine d\u00fczenli ve \u00f6l\u00e7\u00fcl\u00fc al\u0131mla ilerlemeyi tercih ediyorum.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Bitcoin<\/strong><\/h2>\n\n\n\n<p>Bitcoin de bu ay geriledi. 83,7 bin dolardan 77,6 bin dolara inerek ay\u0131 yakla\u015f\u0131k %7,3 kay\u0131pla tamamlad\u0131. Ay i\u00e7inde 87,2 bin ile 76,3 bin dolar aras\u0131nda dalgaland\u0131. Eyl\u00fclde teknoloji hisseleriyle birlikte y\u00fckselen Bitcoin, ekimde onlarla birlikte geriledi. Ay i\u00e7inde az miktarda al\u0131m yapmay\u0131 s\u00fcrd\u00fcrd\u00fcm. G\u00fcncel durumda BTC, toplam portf\u00f6y\u00fcm i\u00e7erisinde %4.2 paya ula\u015ft\u0131.<\/p>\n\n\n\n<p>Toparlayacak olursam,<\/p>\n\n\n\n<p>BIST 100&#8217;\u00fcn TL baz\u0131nda %9,94, dolar baz\u0131nda yakla\u015f\u0131k %11,6 geriledi\u011fi ekim ay\u0131nda toplam portf\u00f6y\u00fcm TL baz\u0131nda %1.62, dolar baz\u0131nda ise %3.12 geriledi. Son iki ayda BIST 100&#8217;\u00fcn kayb\u0131 yakla\u015f\u0131k %25&#8217;e ula\u015f\u0131rken portf\u00f6y\u00fcm yaln\u0131zca %4.7 d\u00fc\u015ft\u00fc. Bu ay\u0131n ana temas\u0131 bence sab\u0131r oldu. Fon krizinin hukuki \u00e7er\u00e7evesi netle\u015fti ve \u00f6demeler ba\u015flad\u0131, Merkez Bankas\u0131 faiz indirimine d\u00f6nd\u00fc. Ama MSCI&#8217;\u0131n uyar\u0131s\u0131, yabanc\u0131 sat\u0131\u015f\u0131 ve k\u00fcresel teknoloji sat\u0131\u015f\u0131 piyasan\u0131n toparlanmas\u0131na izin vermedi. Yurt d\u0131\u015f\u0131nda Fed \u015fahin duru\u015funu korudu, petrol 110 dolar\u0131n \u00fczerine yerle\u015fti, alt\u0131n ve Bitcoin ise geriledi.<\/p>\n\n\n\n<p>Bu t\u00fcr aylar bana Seneca&#8217;n\u0131n Lucilius&#8217;a yazd\u0131\u011f\u0131 mektuplardaki bir fikri hat\u0131rlat\u0131yor. Seneca, \u00e7o\u011fu zaman ger\u00e7ekte olandan \u00e7ok kafam\u0131zda b\u00fcy\u00fctt\u00fc\u011f\u00fcm\u00fcz \u015feylerden ac\u0131 \u00e7ekti\u011fimizi s\u00f6yler. Ekranda iki ayda %25 d\u00fc\u015fen bir endeks g\u00f6rd\u00fc\u011f\u00fcmde yapt\u0131\u011f\u0131m ilk \u015fey, sahip oldu\u011fum \u015firketlerin bilan\u00e7olar\u0131na bakmak oluyor. Bu ay a\u00e7\u0131klanan bilan\u00e7olarda g\u00f6rd\u00fc\u011f\u00fcm tablo ile ekrandaki fiyatlar aras\u0131nda b\u00fcy\u00fck bir fark var. Fiyat\u0131n bu fark\u0131 ne zaman kapataca\u011f\u0131n\u0131 bilmiyorum ve bunu kontrol edemiyorum. Kontrol edebildi\u011fim \u015feyler neye sahip oldu\u011fumu bilmek, plan\u0131ma sad\u0131k kalmak ve birikimimi tek bir \u00fclkeye ya da tek bir piyasaya ba\u011flamamak. Yolculu\u011fun 100. ay\u0131nda bunun bana kazand\u0131rd\u0131\u011f\u0131 en de\u011ferli \u015feyin, bu t\u00fcr aylar\u0131 pani\u011fe kap\u0131lmadan ge\u00e7irebilmek oldu\u011funu d\u00fc\u015f\u00fcn\u00fcyorum.<\/p>\n\n\n\n<p>Okudu\u011funuz i\u00e7in te\u015fekk\u00fcr ederim.<\/p>\n\n\n\n<p>Bay Tutumlu<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"734\" src=\"https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-11-02-093949-1024x734.png\" alt=\"\" class=\"wp-image-3762\" srcset=\"https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-11-02-093949-1024x734.png 1024w, https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-11-02-093949-300x215.png 300w, https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-11-02-093949-768x551.png 768w, https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-11-02-093949.png 1067w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure><\/div>\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"658\" height=\"572\" src=\"https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-11-02-093856.png\" alt=\"\" class=\"wp-image-3763\" srcset=\"https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-11-02-093856.png 658w, https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-11-02-093856-300x261.png 300w\" sizes=\"auto, (max-width: 658px) 100vw, 658px\" \/><\/figure><\/div>\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"328\" height=\"303\" src=\"https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-11-02-093752.png\" alt=\"\" class=\"wp-image-3764\" srcset=\"https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-11-02-093752.png 328w, https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekran-goruntusu-2026-11-02-093752-300x277.png 300w\" sizes=\"auto, (max-width: 328px) 100vw, 328px\" \/><\/figure><\/div>","protected":false},"excerpt":{"rendered":"<p>Herkese selamlar. Yeni bir ay\u0131n daha sonuna geldik. Finansal \u00f6zg\u00fcrl\u00fck yolculu\u011funa ba\u015flayal\u0131 tam 100 ay, hedefime ula\u015fal\u0131 ise 37 ay ge\u00e7mi\u015f. Zaman\u0131n nas\u0131l ge\u00e7ti\u011fini anlamak&#8230;<\/p>\n","protected":false},"author":2,"featured_media":3765,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[34],"tags":[46],"class_list":["post-3745","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-portfoy","tag-portfoy-durumu","entry","double"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/baytutumlu.com\/wp-content\/uploads\/2026\/11\/Ekim-2026-Sonu-Portfoy-Durumu-Kapak.png","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/baytutumlu.com\/index.php\/wp-json\/wp\/v2\/posts\/3745","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/baytutumlu.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/baytutumlu.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/baytutumlu.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/baytutumlu.com\/index.php\/wp-json\/wp\/v2\/comments?post=3745"}],"version-history":[{"count":1,"href":"https:\/\/baytutumlu.com\/index.php\/wp-json\/wp\/v2\/posts\/3745\/revisions"}],"predecessor-version":[{"id":3766,"href":"https:\/\/baytutumlu.com\/index.php\/wp-json\/wp\/v2\/posts\/3745\/revisions\/3766"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/baytutumlu.com\/index.php\/wp-json\/wp\/v2\/media\/3765"}],"wp:attachment":[{"href":"https:\/\/baytutumlu.com\/index.php\/wp-json\/wp\/v2\/media?parent=3745"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/baytutumlu.com\/index.php\/wp-json\/wp\/v2\/categories?post=3745"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/baytutumlu.com\/index.php\/wp-json\/wp\/v2\/tags?post=3745"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}