18/05/2023 15:04

International Equities Portfolio – Amendments

We are making several changes to the International Equities Portfolio.

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10/05/2023 09:21

Paypal Holdings (PYPL US) $US65.90

US-based payments company, Paypal reported quarterly results after the market yesterday, and at the high level, they looked solid with total payment volume of $US354.51bn for the quarter, up 9.8% yoy and above expectations producing revenue of $7.04bn which was up 8.6%.

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03/08/2022 09:43

Paypal (PYPL US) $US89.63

PayPal (PYPL US) finally enjoyed a bounce in its shares this week while we expect more to play out after the company announced $US900mn in savings from cost-cutting, a huge $US15bn share buy-back and news that activist investor Elliot had taken a $2bn stake in the company with plans afoot to turn around the payments provider.  “Elliott strongly believes...

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03/08/2022 09:42

International Equities Portfolio

The MM International Equities Portfolio had a strong week up by 6.04% while cash sits at 2%. For the month of July, the portfolio was 7.35% higher.  Some big moves played out in the 5 trading sessions since our last update, mostly on the upside with Chipotle (CMG US) rallying 18.29% on a better-than-feared earnings report, Paypal (PYPL US) +16.89% plus they have just...

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20/07/2022 09:33

International Equities Portfolio

The MM International Equities Portfolio had a positive week up by +0.41% including the impact of a stronger AUD which took a significant 2.13% away from portfolio returns.  Cash sits at 4% having added HCA Healthcare (HCA US) to the portfolio last week with the position rallying ~6% since purchase. Elsewhere, Wells Fargo (WFC US) +5.89% had a solid week on a good...

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06/07/2022 09:39

International Equities Portfolio

The MM International Equities Portfolio had a solid week up by +0.56% against a backdrop of a weaker market, although a fall in the AUD was a positive contributor.  Cash sits at 9%. Our weakest positions of the last quarter improved, with Chipotle (CMG) +7.56% & PayPal (PYPL) +5.39% leading the line while Glencore (GLEN LN) suffered at the hands of a commodity sell-off to be the weakest link down by -13.83%, nearly 8% of the decline occurring overnight.

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22/06/2022 09:31

International Equities Portfolio

The MM International Equities Portfolio had a solid week up by +1.79% against a backdrop of a weaker market. Cash sits at 9%.  Gains were broad based with only 2 stocks in the portfolio trading lower, namely Brunswick (BC US) -3.65% & PayPal (PYPL US) -0.60%.

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15/06/2022 09:32

International Equities Portfolio

The MM International Equities Portfolio had a soft week down by -5.89%, pretty much in line with broader markets although the currency was a help. Cash sits at 9%.  PayPal (PYPL) was the weakest link down -14.5% however the banks in the US were also hit in line with our own, we own Wells Fargo (WFC) in the space which fell 13.95%. Chinese tech bounced with JD.com (JD US) +5.83% and Tencent (700 HK) +6.86%.

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11/05/2022 09:39

International Equities Portfolio

The MM International Equities Portfolio fell -7.2% during the week with cash remaining at 8%.  Trade Desk (TTD US) was whacked -26% and JD.com -15.6% while Brunswick (BC US) advancing just +0.5% was, unfortunately, the only green across our portfolio. While this portfolio is filled with high-quality companies, a number of these have fallen substantially this year dragging performance with them. In hindsight...

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27/04/2022 09:29

International Equities Portfolio

The MM International Equities portfolio fell -6.7% last week while cash sits at 8%. Every stock in the portfolio was down, the worst performers were PayPal (PYPL US) -16.6%, Glencore (GLEN US) -11.6% and Amazon.com (AMZN US) -8.9% while Brunswick Corp (BC US) was our best performer and it still fell -1.8%.  

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