International Equities Portfolio

For those seeking international direct equities exposure

About The Portfolio

A high conviction direct international equities portfolio that targets well known global brands, along with some smaller, high growth opportunities.

Prices in $US unless otherwise stated in the stock name

**Portfolio Performance** UPDATED 30/11/2025 17:00
Portfolio	1M	3M	6M	1y	3y pa	5y pa	ITD pa*
INTERNATIONAL EQUITIES	4.55%	14.07%	32.61%	19.08%	24.92%	19.23%	21.99%
MSCI WORLD AUD	0.11%	5.37%	12.32%	16.22%	19.94%	15.56%	14.44%
VALUE ADD	+4.44%	+8.70%	+20.29%	+2.86%	+4.98%	+3.67%	+7.55%

* Inception date 26/06/2019

**Portfolio Holdings** 20 MINUTES DELAYED trade now
CODE	NAME	WEIGHT (%)	RISK	TERM	BUY DATE	BUY PRICE ($)	LAST PRICE ($)	DIVIDENDS ($)	GAIN / LOSS (%)
ALB US	Albemarle	4	High	Medium	12/02/2024	115.75	131.07	1.61	14.63
B US	Barrick	5	Moderate	Medium	18/03/2021	20.59	42.93	1.28	114.72
BABA US	Alibaba	6	Moderate	Medium	27/11/2019	194.97	149.29	1.96	-22.42
BTU US	Peabody Energy	4	High	Medium	18/05/2023	20.90	27.76	0.67	36.03
BX US	Blackstone	6	Moderate	Medium	07/10/2022	102.62	152.09	6.62	54.66
CCJ US	Cameco Corp	4	High	Medium	06/06/2024	50.78	87.05	0.33	72.08
CMG US	Chipotle Mexican Grill	5	Moderate	Medium	24/03/2022	35.96	35.66		-0.83
FCX US	Freeport McMoRan	6	Moderate	Medium	20/07/2022	32.17	47.54	1.12	51.26
FSLR US	First Solar	4	High	Medium	18/05/2023	187.45	258.51		37.91
GOOGL US	Alphabet	5	Moderate	Medium	12/09/2024	153.80	306.57	0.82	99.86
GS US	Goldman Sachs	5	Moderate	Medium	04/04/2025	525.43	879.15	11.00	69.41
JD US	JD.com	4	High	Medium	11/02/2025	40.99	28.85		-29.62
MSFT US	Microsoft Corp	6	Moderate	Medium	25/02/2020	213.34	476.39	9.87	127.93
NVO US	Novo Nordisk	4	High	Medium	11/12/2025	49.96	48.96		-2.00
PSHZF US	Pershing Square Capital	5	Moderate	Long	18/05/2023	36.95	66.55	1.17	83.27
SPOT US	Spotify Technology	3	High	Medium	11/12/2025	606.80	579.07		-4.57
TTD US	The Trade Desk	5	Moderate	Medium	24/04/2020	42.31	36.64		-13.40
UBS US	UBS Group	5	Moderate	Medium	22/08/2023	25.44	44.80	0.68	78.77
YETI US	YETI	5	Moderate	Medium	28/02/2023	38.89	42.99		10.54
ZG US	Zillow	5	High	Medium	06/06/2024	46.65	68.92		47.74

Portfolio cash position: 4%

**Recent Sales** UPDATED 03/07/2025 09:00 trade now
Company code	STOCK NAME	ACTIVITY	RISK	TIME HORIZON	EXIT DATE	ENTRY PRICE ($)	CLOSE PRICE ($)	DIVIDENDS ($)	GAIN / LOSS (%)
HCA US	HCA Healthcare	Sold 3% position	Moderate	Medium	19/11/2025	310.9	478	1.44	54.21
IREN US	Iren Ltd	Sold 2.5% position	High	Medium	16/09/2025	11.98	37.46	0	212.69
CCJ US	Cameco Corp	Trimmed 1%	High	Medium	02/07/2025	50.78	71.46	0.11	40.94
FSLR US	First Solar	Trimmed 2%	High	Medium	11/02/2025	187.45	162.55		-13.3
AAPL US	Apple	Sold 5% position	Moderate	Medium	14/01/2025	48.49	232.11	3.48	385.9
WFC US	Wells Fargo & Co	Sold 6% position	Moderate	Medium	06/12/2024	51.26	73.99	3.24	50.1
HCA US	HCA Healthcare	Sold 3% position	Moderate	Medium	12/09/2024	225.77	385.42	0.65	71
SNOW US	Snowflake	Sold 5% position	High	Medium	12/09/2024	150.73	112.6		-25.3
DE US	Deere & Co	Sold 6% position	Moderate	Long	21/05/2024	367	390.93	11.93	9.77
TTD US	The Trade Desk (USD)	Trimmed 1%	High	Medium	31/01/2024	42.31	67.91		60.51
BX US	Blackstone Group	Trimmed 1%	High	Medium	31/01/2024	89.48	125.95	3.42	44.58
BC US	Brunswick Corp	Sold 5% position	Moderate	Medium	31/01/2024	96.96	82.26	4.06	-10.97
GOLD US	Barrick Gold	Trimmed 2%	Moderate	Medium	31/01/2024	20.59	15.76	0.56	-20.74
CCJ US	Cameco Corp	Sold 3% position	High	Medium	16/01/2024	36.2	50.13	0.09	38.73
DIS US	Walt Disney	Sold 5% position	High	Medium	17/07/2023	96.81	88.42		-8.67
AAPL	Apple	Trimmed 1%	Moderate	Medium	22/06/2023	48.49	183.74	2.98	285.1
MSFT US	Microsoft	Trimmed 1%	Moderate	Medium	22/06/2023	172.07	334.12	4.61	96.86
HCA US	HCA Healthcare	Sold 4% position	Moderate	Medium	22/06/2023	168.54	286.49	1.2	70.7
HCA US	HCA Healthcare	Trimmed 1%	Moderate	Medium	18/05/2023	168.54	278.28	0.6	65.47
CMG US	Chipotle Mesican	Trimmed 2%	High	Medium	18/05/2023	1548.47	2060.8		33.09
PYPL US	PayPal	Sold 6% position	High	Medium	18/05/2023	290.84	61.46		-78.87
XOM US	Exxon Mobil Corp	Sold 4% position	Moderate	Medium	28/02/2023	87.58	111.24	2.7	30.1
GOOGL US	Alphabet Inc	Sold 6% position	High	Medium	28/02/2023	131.36	89.33		-32
TSCO LN	Tesco Pls (BP)	Sold 5% position	Moderate	Medium	07/10/2022	277.1	199.3	7.7	-25.29
TTD US	The Trade Desk (USD)	Trimmed 2%	High	Medium	17/08/2022	35.77	72.1		101.57
JD US	JD.com	Sold 5% position	High	Medium	15/08/2022	76.87	56.36	1.24	-25.07
MSFT US	Microsoft (USD)	Trimmed 3%	Moderate	Medium	28/07/2022	172.07	274.32	3.25	61.31
700 HK	Tencent (HKD)	Sold 6% position	High	Medium	20/07/2022	386.51	342	2.8	-10.79
AMZN US	Amazon	Sold 6% position	Moderate	Medium	11/05/2022	3333.2	2162.07		-35.14
FCX US	Freeport-McMoRan	Sold 5% position	Moderate	High	24/03/2022	38.5	50.14	0.07	29.69
XOM US	Exxon Mobil	Sold 5% position	High	Medium	2/03/2022	55.4	80.6		45.49
WFC US	Wells Fargo & Co	Trimmed 3%	Moderate	Medium	23/02/2022	51.26	55.85	1.29	11.47
BHP LN	BHP Group PLC (GBp)	Sold 6% position	Moderate	Medium	28/01/2022	1650	2381	170.43	54.63
SHOP US	Shopify Inc	Sold 6% position	High	Medium	25/11/2021	1324.28	1650		24.6
ZM US	Zoom	Sold 4% position	High	Medium	06/10/2021	369.75	251.3		-32.04
005930 KS	Samsung Electronics Co Ltd (KRW)	Sold 5% position	Moderate	Medium	27/08/2021	46250	74500	3702	69.09
2318 HK	Ping An Insurance Group Co of	Sold 7% position	Moderate	Medium	06/08/2021	91.28	68.05	3.15	-22
VALE US	Vale SA	Sold 6% position	High	Medium	22/07/2021	10.26	22.46		118.91

OPINION
ACTION

Opinions for stocks held in the International Equities Portfolio

17/12/2025 09:41

Goldman Sachs (GS US) $US879.15

Goldman Sachs has been on an exceptional run, as have most US banks through 2025, with shares up ~53% over the past year and trading near all-time highs. Our position in the International Equities Portfolio is up ~70%, having initiated the position in April.

16/12/2025 11:16

Shawn’s Trade Idea: Filled on NOVO Nordisk ADR (NVO US)

The resting bid in NOVO Nordisk ADR (NVO US) has been filled at $US50.50.

16/12/2025 09:24

Zillow Group Inc (ZG US) $US66.66

Last night was interesting for Zillow with the stock travelling on a roller coaster, bouncing aggressively off of its intra-day lows but still finishing down more than 8%. The volatility that saw the stock down ~13% at its worst was caused by Google testing a new real estate advertising platform, which could rival Zillow's services. Similarly, CoStar tumbled ~9% as the space braced for fresh competition from the tech goliath.

12/12/2025 11:36

Shawn’s Trade Idea: Buy NOVO Nordisk ADR (NVO US) increase limit to $US50.50

We are following our International Equities Portfolio's Hitlist, buying NOVO Nordisk ADR (NVO US) seeing excellent risk/reward around $US50.

11/12/2025 16:13

Portfolio Amendments – International Equities Portfolio

We are two new positions to the International Equities Portfolio

09/12/2025 10:58

Shawn’s Trade Idea: Buy NOVO Nordisk ADR (NVO US) limit $US49.50

We are following our International Equities Portfolio's Hitlist, buying NOVO Nordisk ADR (NVO US) seeing excellent risk/reward below $US50.

26/11/2025 09:36

Alibaba (BABA US) $US156.85

Alibaba’s reported a mixed quarterly update overnight, highlighting solid top-line strength but with some bottom-line pain. Revenue beat expectations, driven by a great result in the cloud division and a still-solid domestic e-commerce business, but profitability took a heavy hit as the company pushes to gain market share in China’s brutal instant-delivery war. The stock dipped ~2.5% as they chalked up back-to-back quarters of negative free cash flow, the first since listing in 2014.

26/11/2025 09:33

Novo Nordisk (NVO US) $US47.01

Novo finally caught a break overnight, with early data on its next-generation diabetes/obesity drug Amycretin giving the stock a much-needed lift. After a year where shares have fallen ~50%, sentiment has been weak, but this is the first genuine positive catalyst the company has had in a while.

25/11/2025 09:52

Freeport-McMoRan (FCX US) $40.75

12/11/2025 09:32

Spotify (SPOT US) $US640.12

Spotify is one of those rare global platforms that's become a daily habit for hundreds of millions of people. It's now the clear leader in audio streaming, with over 700 million monthly active users and around 280 million paying subscribers across 180 markets - phenomenal scale. For years, the story was all about growth at any cost - build scale, own the customer relationship, and keep expanding.