International Equities Portfolio

For those seeking international direct equities exposure

19.01% International Equities Portfolio FY21 Performance to date

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 01/06/2021 09:00
Portfolio	1M	3M	6M	1Y	3Y pa	ITD pa*
International Equities	-3.41%	-1.97%	3.70%	23.54%	-	20.65%
Target 10%	0.83%	2.50%	5.00%	10.00%	-	10.00%
Difference	-4.24%	-4.47%	-1.30%	+13.54%	-	+10.65%

* Inception date 26/06/2019

**Portfolio Holdings** UPDATED 17/06/2021 09:44 trade now
COMPANY CODE	STOCK NAME	WEIGHT (%)	RISK	TIME HORIZON	ENTRY DATE	ENTRY PRICE ($)	LAST PRICE ($)	DIVIDENDS ($)	GAIN / LOSS (%)
005930 KS	Samsung Electronics Co Ltd (KRW)	5	Moderate	Medium	03/07/2019	46250	81800	3702	84.87
2318 HK	Ping An Insurance Group Co of (HKD)	7	Moderate	Medium	26/06/2019	91.28	79.25	3.15	-9.73
700 HK	Tencent Holdings Ltd (HKD)	6	High	Medium	22/01/2020	386.51	596.5	2.8	55.05
AAPL US	Apple Inc	6	Moderate	Medium	26/06/2019	48.49	130.15	1.86	172.24
BABA US	Alibaba Group Holding Ltd	6	Moderate	Medium	27/11/2019	194.97	209.32		7.36
BC US	Brunswick Corp/DE	5	Moderate	Medium	07/04/2021	96.96	94.42	0.34	-2.27
BHP LN	BHP Group PLC (GBp)	6	Moderate	Medium	24/10/2019	1650	2129	91.74	34.59
GOLD US	Barrick Gold Corp	7	Moderate	Medium	18/03/2021	20.59	22.45		9.03
MSFT US	Microsoft Corp	6	Moderate	Medium	25/02/2020	161.38	257.38	2.14	60.81
SHOP US	Shopify Inc	6	High	Medium	24/04/2020	1324.28	1366.3		3.17
TTD US	Trade Desk Inc/The	6	High	Medium	16/06/2021	357.7	590.2		65
VALE US	Vale SA	6	High	Medium	04/06/2020	10.26	21.49		109.45
WFC US	Wells Fargo & Co	5	Moderate	Medium	27/11/2019	54.21	45.57	1.32	-13.5
ZM US	Zoom Video Communications Inc	4	High	Medium	09/09/2020	369.75	361.83		-2.14

Portfolio cash position: 19%

**Recent Sales** UPDATED 15/04/2021 08:00 trade now
Company code	STOCK NAME	WEIGHT(%)	RISK	TIME HORIZON	ENTRY DATE	ENTRY PRICE ($)	CLOSE PRICE ($)	DIVIDENDS ($)	GAIN / LOSS (%)
UBS US	UBS Group AG	4	Moderate	Medium	25/02/2020	12.2	15.7	0.91	36.15
GOOGL US	Alphabet Inc	6	Moderate	Long	7/04/2021	1257.3	2239.03		78.08
XOM US	Exxon Mobil Corp	5	Moderate	Medium	7/04/2021	40.96	56.39	3.48	46.17
JPM US	JPMorgan Chase & Co (GBp)	5	Moderate	Medium	17/03/2021	125.29	155.34	4.5	27.57
AAL LN	Anglo American PLC (GBp)	4	Moderate	Medium	10/03/2021	1962	2874	21.63	47.59
V US	Visa Inc (USD)	5	Moderate	Medium	10/02/2021	203.5	206.52	1.22	2.08
JHG US	Janus Henderson (USD)	4	Moderate	Medium	9/09/2020	22.84	19.76	1.26	-7.97
700 HK	Tencent (HKD)	2	Moderate	Medium	24/07/2020	386.51	536	1.2	38.99
MSFT US	Microsoft (USD)	2	Moderate	Medium	24/07/2020	161.37	202	0.51	25.49
UNH US	United Health (USD)	4	Moderate	Medium	28/05/2020	245.02	303.77	1.08	24.42
MC FP	LVMH Holdings (EURO)	4	Moderate	Medium	22/05/2020	387.55	359.85		-7.15
BAC US	Bank of America (USD)	5	Moderate	Medium	16/04/2020	30.36	22.19	0.36	-25.72
SH US	ProShares Short S&P500 (USD)	8	Short	High	25/02/2020	26.44	23.99	0.2	-8.51
GOLD US	Barrick Gold (USD)	5	Moderate	Medium	25/02/2020	16.01	22	0.54	40.79
NTFX US	Netflix (US)	5	Moderate	Medium	24/07/2019	382.77	315		-17.71

OPINION
ACTION

Opinions for stocks held in the International Equities Portfolio

17/06/2021 09:17

BHP Group (BHP)

Currently MM’s major exposure to the classic Resources Sector is through heavyweight BHP Group (BHP) but we anticipate moving back to a large overweight stance at some stage in 2021, hence today’s report after the FOMC meeting and subsequent rally in the $US.

16/06/2021 09:47

International Equities Portfolio

The portfolio continues to endure a choppy / mixed June and overall it’s been disappointing to date.

15/06/2021 09:44

Gold

Precious metals have rallied steadily from their early April bottom but as the $US oscillates around its multi-year low volatility is slowly rising.

03/06/2021 09:12

BHP Group (BHP) $49.39

MM holds BHP in 3 of our portfolios, the resources giant has really helped our performance since the peak of the COVID panic.

26/05/2021 11:27

International Equities Portfolio – Amendment

We are adding to our existing position in The Trade Desk (TTD US)

11/05/2021 09:33

BHP Group (BHP) $51.65

BHP has already posted fresh all-time highs following a strong 3% rally yesterday. At this stage we intend to ride the train and look out for potential panic like buying, especially if it coincides with $US at fresh 2021 lows and FMG popping to fresh all-time highs – remember the market is like a mosaic of moving parts.

11/05/2021 09:31

Vale (VALE US)

The correlation between the $US and resource stocks doesn’t end in Australia iron ore giant Vale (VALE US) has also moved in sync with the $US implying that the trend should remain intact but another 10% correction isn’t too far away.

10/05/2021 09:21

Chart of the Week

BHP trades in the US, UK and Australia hence we generally have a very good indication where it’s likely to open every morning.

07/05/2021 09:27

BHP Group (BHP) $49.80

On a more positive note the “Big Australian” as it used to be called on the old trading floors rallied strongly to within striking distance of its all-time high yesterday and this morning it looks set to be within 1% of the milestone, a great performance considering the juicy dividends it’s paid along the way.

30/04/2021 09:23

Vale (VALE US) $US21.06

Vale is the worlds 2nd largest producer of iron ore after RIO Tinto (RIO), we feel its showing the direction for Australian producers moving forward after breaking to fresh 2021 highs in the last few weeks. We hold Vale in our International Equities Portfolio.