We are taking profit on Exxon Mobil (XOM US), given it’s strong outperformance of the underlying commodity price. We like Energy but prefer other exposures.
MM are selling XOM US in the International Equities Portfolio, taking profit around $US110.00
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We are cutting Alphabet (GOOGL US), switching part of the holding into The Trade Desk (TTD US) which we view as a better way to play online advertising.
MM are selling GOOGL US in the International Equities Portfolio, taking a loss around $US90.00
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We are buying Yeti Holdings (YETI US) into recent weakness. We discussed the stock in more detail here
MM are buying YETI US in the International Equities Portfolio, allocating 5% around $US39.00
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We are adding to our existing position in The Trade Desk (TTD US). This is our favoured way of getting exposure to online advertising.
MM are adding to TTD US in the International Equities Portfolio, allocating a further 2% taking it to a 6% weighting around $US55.00
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