Zechariah Bin Zheng @FundManagerZech: "🔄 𝗪𝗵𝗮𝘁 𝗰𝗵𝗮𝗻𝗴𝗲𝗱 - Portfolio performance..."

Australia

🔄 𝗪𝗵𝗮𝘁 𝗰𝗵𝗮𝗻𝗴𝗲𝗱 - Portfolio performance is not strong recently. - Several holdings have seen sharp price swings, including $1810.HK (Xiaomi Corp) $GSBD (Goldman Sachs BDC Inc) $ATHM.CH (Autohome-ADR) . - These moves have been larger than the broader market in some cases. - Current assessment is that the price moves do not fully reflect the underlying business outlook. - No forced action is being taken. - The focus remains on staying calm and adding only where opportunities meet the framework. - Anti-AI related positions, including Teleperformance, have performed better during this period. - $VTY.L (Vistry Group PLC) has been exited given management under performance and soft guidance. - These positions remain under review and continue to appear undervalued within the framework. 🛡️ 𝗥𝗶𝘀𝗸 𝗽𝗼𝘀𝘁𝘂𝗿𝗲 - The portfolio did not participate in the recent AI/Semis/Mag 7-led rally. - That remains acceptable within the framework. - The process is not designed to chase narrow rallies where valuations do not meet requirements. - Cash remains near the upper end of the preferred range, which provides flexibility. Although, good entry points at current levels, so this will reduce. - Capital will be deployed gradually and only where valuation, sizing, and discipline align. - Risk continues to be managed through diversification, cash, and position sizing. No new macro views.

Not investment advice. The author may have financial interests in the mentioned instruments.