Big tech is not dead, and the sharp pullback in this area of the market will create opportunities to improve the quality of our exposures, so today’s update is about sharpening the pencil in the International Equities Portfolio.
- We currently hold 19 positions and 10% in cash
The Trade Desk (TTD US) & YETI Holdings (YETI US) report quarterly results on Thursday; Zillow (ZG US) is due tomorrow before market open, with a lot of the remaining positions updating the market next week. We will make some changes to this portfolio as we move to improve its quality into weakness, with Snowflake (SNOW US) a candidate to make way for a new technology holding, Wells Fargo (WFC US) is under the microscope while we may trim The Trade Desk (TTD US), depending on its results.
In previous notes, we had flagged the levels that would have us interested in two major tech stocks, namely NVIDIA (NVDA US) and Alphabet (GOOGL US);
