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International Equities Portfolio

For those seeking international direct equities exposure

About the International Equities Portfolio

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
Portfolio 1M 3M 6M 1Y 3Y pa ITD pa*
INTERNATIONAL EQUITIES -2.20% 5.68% 15.50% 17.60% 16.01% 18.19%
MSCI WORLD AUD -3.02% 5.72% 17.58% 20.79% 12.01% 12.55%
VALUE ADD +0.83% (0.04%) (2.08%) (3.19%) +4.00% +5.64%
* Inception date 26/06/2019
Portfolio Holdings trade now
COMPANY CODE STOCK NAME WEIGHT (%) RISK TIME HORIZON ENTRY DATE ENTRY PRICE ($) LAST PRICE ($) DIVIDENDS ($) GAIN / LOSS (%)
AAPL US Apple 5 Moderate Medium 26/06/2019 48.49 189.87 3.23 298.23
ALB US Albemarle 4 High Medium 12/02/2024 115.75 131.12 13.28
BABA US Alibaba Group Holding 6 Moderate Medium 27/11/2019 194.97 88.54 0.98 -54.09
BTU US Peabody Energy 4 High Medium 18/05/2023 20.90 22.53 0.15 8.52
BX US Blackstone Group 6 High Medium 07/10/2022 102.62 125.67 4.25 26.60
CMG US Chipotle Mexican 4 High Medium 24/03/2022 1548.47 3213.43 107.52
DE US Deere & Co 6 Moderate Long 06/08/2021 367 397.02 11.93 11.43
FCX US Freeport McMoRan 6 High Medium 20/07/2022 32.17 54.23 0.89 71.34
FSLR US First Solar 6 High Medium 18/05/2023 187.45 197.59 5.41
GOLD US Barrick Gold 5 Moderate Medium 18/03/2021 20.59 17.89 0.56 -10.39
HCA US HCA Healthcare 3 Moderate Medium 01/11/2023 225.77 322.86 43.00
MSFT US Microsoft Corp 5 Moderate Medium 25/02/2020 172.07 420.21 6.04 147.72
PSHZF US Pershing Square Capital 4 Moderate Long 18/05/2023 34.74 52.60 0.13 51.78
SNOW US Snowflake Inc 5 High Medium 28/07/2022 150.73 161.86 7.38
TTD US The Trade Desk 5 High Medium 24/04/2020 42.31 94.78 124.01
UBS US UBS Group 5 Moderate Medium 22/08/2023 25.44 30.34 0.23 20.17
WFC US Wells Fargo & Co 6 Moderate Medium 27/11/2019 51.26 61.08 2.84 24.70
YETI US YETI Holdings 5 High Medium 28/02/2023 38.89 39.50 1.57
Portfolio cash position: 10%
Recent Sales trade now
Company code STOCK NAME WEIGHT(%) RISK TIME HORIZON EXIT DATE ENTRY PRICE ($) CLOSE PRICE ($) DIVIDENDS ($) GAIN / LOSS (%)
TTD US The Trade Desk (USD) 1 High Medium 31/01/2024 42.31 67.91 60.51
BX US Blackstone Group 1 High Medium 31/01/2024 89.48 125.95 3.42 44.58
BC US Brunswick Corp 5 Moderate Medium 31/01/2024 96.96 82.26 4.06 -10.97
GOLD US Barrick Gold 2 Moderate Medium 31/01/2024 20.59 15.76 0.56 -20.74
CCJ US Cameco Corp 3 High Medium 16/01/2024 36.2 50.13 0.09 38.73
DIS US Walt Disney 5 High Medium 17/07/2023 96.81 88.42 -8.67
AAPL Apple 1 Moderate Medium 22/06/2023 48.49 183.74 2.98 285.1
MSFT US Microsoft 1 Moderate Medium 22/06/2023 172.07 334.12 4.61 96.86
HCA US HCA Healthcare 4 Moderate Medium 22/06/2023 168.54 286.49 1.2 70.7
HCA US HCA Healthcare 1 Moderate Medium 18/05/2023 168.54 278.28 0.6 65.47
CMG US Chipotle Mesican 2 High Medium 18/05/2023 1548.47 2060.8 33.09
PYPL US PayPal 6 High Medium 18/05/2023 290.84 61.46 -78.87
XOM US Exxon Mobil Corp 4 Moderate Medium 28/02/2023 87.58 111.24 2.7 30.1
GOOGL US Alphabet Inc 6 High Medium 28/02/2023 131.36 89.33 -32
TSCO LN Tesco Pls (BP) 5 Moderate Medium 07/10/2022 277.1 199.3 7.7 -25.29
TTD US The Trade Desk (USD) 2 High Medium 17/08/2022 35.77 72.1 101.57
JD US JD.com 5 High Medium 15/08/2022 76.87 56.36 1.24 -25.07
MSFT US Microsoft (USD) 3 Moderate Medium 28/07/2022 172.07 274.32 3.25 61.31
700 HK Tencent (HKD) 6 High Medium 20/07/2022 386.51 342 2.8 -10.79
AMZN US Amazon 6 Moderate Medium 11/05/2022 3333.2 2162.07 -35.14
FCX US Freeport-McMoRan 5 Moderate High 24/03/2022 38.5 50.14 0.07 29.69
XOM US Exxon Mobil 5 High Medium 2/03/2022 55.4 80.6 45.49
WFC US Wells Fargo & Co 3 Moderate Medium 23/02/2022 51.26 55.85 1.29 11.47
BHP LN BHP Group PLC (GBp) 6 Moderate Medium 28/01/2022 1650 2381 170.43 54.63
SHOP US Shopify Inc 6 High Medium 25/11/2021 1324.28 1650 24.6
ZM US Zoom 4 High Medium 06/10/2021 369.75 251.3 -32.04
005930 KS Samsung Electronics Co Ltd (KRW) 5 Moderate Medium 27/08/2021 46250 74500 3702 69.09
2318 HK Ping An Insurance Group Co of 7 Moderate Medium 06/08/2021 91.28 68.05 3.15 -22
VALE US Vale SA 6 High Medium 22/07/2021 10.26 22.46 118.91
UBS US UBS Group AG 4 Moderate Medium 14/04/2021 12.2 15.7 0.91 36.15
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Opinions for stocks held in the International Equities Portfolio

Deere & Co. Ltd (DE US) $US394.43

The owner of the iconic John Deere brand reported stronger-than-expected 2Q earnings overnight. However, they lowered their FY guidance due to weakening ‘farm economics’ in most areas, with particular softness coming through in North America. Deteriorating global agricultural markets at a time of elevated inventories are likely to put downward pressure on 2H production, and they lowered their FY24 profit guidance by 8%. The stock fell nearly 5% on the session.

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The Trade Desk Inc (TTD US) $US93.19

TTD shares surged almost 5% on Wednesday night, followed by another +3% move overnight, following the news that the advertising technology company will partner with Netflix (NFLX US) to facilitate automated ad purchases for the streaming giant. Netflix’s decision to open up its connected TV ad inventory to third-party platforms is likely to fuel further the momentum in TTD’s largest and fastest-growing channel.

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Alibaba (BABA US) $US79.51

`China-facing equities have started to recover, and overnight, we saw results from Tencent and Alibaba, two important companies. Alibaba reported Q4 results broadly in line with expectations, although the core e-commerce and cloud units showed single-digit growth, which was slightly underwhelming, and the stock pulled back after a good run

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YETI Holdings (YETI US) $US39.26

The US based outdoor brand that makes coolers or esky’s as we call them, along with a bunch of other great products was up as much as 20% early on overnight before closing 12.78% higher following a strong beat on quarterly earnings, driven by the trio of stronger sales, better gross margin and lower expenses. They saw very good growth in their international business that made up 19% of sales, the highest proportion ever, while they talked to lower input costs and  ongoing progress in product innovation.

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Trade Desk Inc (TTD US) $US86.02

The advertising technology company that helps companies place targeted ads online and via streaming services reported 1Q24 results this morning (after the close) that were stronger than expected on both revenue and adjusted earnings (EBITDA), while the outlook for the next quarter was also positive. 

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UBS Group (UBS US) $US29.51

The power of scale was on show overnight, with  UBS reporting materially better 1Q results right across their diverse operation as they started to reap the benefits of the emergency takeover of Credit Suisse. The Swiss investment bank returned to profit and beat earnings expectations, with all core divisions topping forecasts.

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First Solar (FSLR US) $US180.51

The manufacturer of commercial solar in the US reported a solid quarter on Wednesday, beating expectations, although their FY24 outlook was only ‘maintained’. Earnings per share of $2.20 vs consensus of $1.97 was positive and showed good operating performance, while 2024 guidance remained unchanged, expecting EPS  of $13 to $14 and revenue of $4.4bn to $4.6bn i.e. the strong 1Q is a good sign but they don’t have enough confidence yet to push an upgrade for the FY.

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Albemarle (ALB US) $US125.28

ALB is the world’s largest producer of Lithium, making it a very important cog in the battery metal chain. On Wednesday they reported 1Q24 results and held an earnings call overnight, providing a lot of detail about the state of the Lithium market. From an earnings perspective, they saw a huge drop year on year, but ultimately, they beat expectations marginally for the quarter, reporting adjusted earnings per share of 26c from sales of $US1.4bn.  A year ago, Albemarle reported a profit of $10.32 a share from sales of $US2.6bn!

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Apple Inc (AAPL US) $US173.03

Apple's quarterly revenue declined as it faced declining iPhone sales and anaemic demand for its products in China, but the Bloomberg headline summed up the market reception of its earnings numbers nicely, “Apple sales drop less than feared as company plots comeback”. Some of the headlines in the company's earnings were very impressive: Apple's services business delivered $23.9 billion in revenue for the March quarter, up 12.4% from a year earlier – the consensus was $23.1bn.

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Chipotle Mexican Grill (CMG US) $US3159.60

Another phenomenal quarterly result from the fast-growing Mexican eatery was reported last week, pushing shares to yet another all-time high.  Same-store sales (SSS) growth of 7.0% was a standout (about 2% ahead of consensus) driven by more sales at higher prices. To put this into context, Dominos (DMP) ran at 2.8% for Q4 in their US business but sub 2% more broadly. 

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Actions for stocks held in the International Equities Portfolio

TTD US
UPDATED 17/05/2024 16:16
MM remains long and bullish toward TTD
Add To Hit List
DE US
UPDATED 17/05/2024 16:15
MM is now neutral DE US around US$400
Add To Hit List
BABA US
UPDATED 15/05/2024 09:31
MM is bullish on Alibaba, and would be a buyer if we did not already own
Add To Hit List
YETI US
UPDATED 10/05/2024 12:09
MM is long and bullish towards YETI
Add To Hit List
TTD US
UPDATED 09/05/2024 09:49
MM remains long on bullish towards TTD
Add To Hit List
UBS US
UPDATED 08/05/2024 16:27
MM remains long & bullish UBS US in the International Equities Portfolio
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AAPL US
UPDATED 03/05/2024 11:05
MM is neutral/bullish on Apple Inc
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ALB US
UPDATED 03/05/2024 11:05
MM is long & bullish ALB US, having recently bought the stock
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FSLR US
UPDATED 03/05/2024 11:04
MM is long & bullish FSLR US
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CMG US
UPDATED 01/05/2024 09:44
MM remains long & bullish CMG US
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