Zechariah Bin Zheng @FundManagerZech: "🫀 𝗪𝗲𝗲𝗸𝗹𝘆 𝗣𝗼𝗿𝘁𝗳𝗼𝗹𝗶𝗼 𝗛𝗲𝗮𝗿𝘁𝗯𝗲𝗮𝘁 —..."

Australia

🫀 𝗪𝗲𝗲𝗸𝗹𝘆 𝗣𝗼𝗿𝘁𝗳𝗼𝗹𝗶𝗼 𝗛𝗲𝗮𝗿𝘁𝗯𝗲𝗮𝘁 — 𝟮𝟵𝘁𝗵 𝗔𝗽𝗿𝗶𝗹 𝟮𝟬𝟮𝟲 🔄 𝗪𝗵𝗮𝘁 𝗰𝗵𝗮𝗻𝗴𝗲𝗱 - Cash is currently near the upper end of the portfolio’s normal risk limits. This provides optionality as several existing holdings have pulled back into more attractive ranges. - Capital is being deployed gradually and only where valuation and discipline align. - Several smaller positions were cleaned up or removed to simplify the portfolio. - Payments exposure was added through $EEFT (Euronet Worldwide Inc.) and $GPN. - Software remains under review, with one or two potential opportunities being monitored. 🛡️ 𝗥𝗶𝘀𝗸 𝗽𝗼𝘀𝘁𝘂𝗿𝗲 - Portfolio positioning remains conservative and valuation-led. - Recent market strength has remained narrow and concentrated in semiconductors and large-cap technology. $SPX500 - The portfolio currently has no direct exposure to those areas, as current valuations do not yet meet our framework requirements. That may change if pricing becomes more attractive. - Risk continues to be managed through cash, position sizing, and gradual deployment. - No urgency is being placed on adding exposure. No new macro views.

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

2 Mentioned

EEFT

Euronet Worldwide Inc.

SPX500

SPX500 Index (Non Expiry)

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