Francisco Jose Ortiz @FranciscoOrtiz13: "𝗝𝗮𝗻𝘂𝗮𝗿𝘆 𝟮𝟬𝟮𝟲 - 𝗠𝗼𝗻𝘁𝗵𝗹𝘆 𝗣𝗼𝗿𝘁𝗳𝗼𝗹𝗶𝗼..."

Georgia

𝗝𝗮𝗻𝘂𝗮𝗿𝘆 𝟮𝟬𝟮𝟲 - 𝗠𝗼𝗻𝘁𝗵𝗹𝘆 𝗣𝗼𝗿𝘁𝗳𝗼𝗹𝗶𝗼 𝗥𝗲𝘃𝗶𝗲𝘄 (𝗲𝗧𝗼𝗿𝗼) What I bought, what I sold, and how the month played out 💰 January was a 𝘀𝗼𝗹𝗶𝗱 𝗯𝘂𝘁 𝘃𝗼𝗹𝗮𝘁𝗶𝗹𝗲 𝗺𝗼𝗻𝘁𝗵 for equities. It started strong, sold off in the middle, looked like it was recovering, and weakened again toward the end. Crypto didn’t help either: $BTC and altcoins continued sliding in the last days of the month. At the same time, headlines were dominated by $GOLD $SILVER and commodities after an exceptional 2025, until we saw a sharp correction on the final trading day. Zooming out, they’re still elevated. But these pullbacks are healthy to clear speculation. On our side, it was a 𝗰𝗮𝗹𝗺 𝗮𝗻𝗱 𝗱𝗶𝘀𝗰𝗶𝗽𝗹𝗶𝗻𝗲𝗱 𝗺𝗼𝗻𝘁𝗵. Some profit taking, some new positions, nothing crazy 🤓 As always, we keep deepening the same long-term strategy: - gradually reducing risk, - increasing exposure to 𝗵𝗶𝗴𝗵-𝗾𝘂𝗮𝗹𝗶𝘁𝘆, 𝘀𝗼𝗹𝗶𝗱 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀𝗲𝘀 (not only growth), - and diversifying more and more 𝗴𝗹𝗼𝗯𝗮𝗹𝗹𝘆. 🔴 𝗪𝗵𝗮𝘁 𝘄𝗲 𝘀𝗼𝗹𝗱 (profit taking & rebalancing) - $HSBC (HSBC-ADR) at ~$80 (TP triggered, ~38% gain in ~7 months) - $TSM (Taiwan Semiconductor Manufacturing Co Ltd - ADR) at ~$320 (still a core holding, but no longer cheap) - $CVX.US (Chevron) at ~$170 (high dividend, but 30% withholding for me - slowly exiting) - $ASML (ASML Holding NV) around €1000 and €1100 (partial rebalance after a massive run, +60% in <1 year - still holding) - $GOOG (Alphabet) at ~$330 (trimmed slightly after +185% in ~3 years) - $VEA (Vanguard FTSE Developed Market ETF) at ~$66 (fully exited - now 100% in individual stocks on eToro) These were mostly 𝗿𝗶𝘀𝗸 𝗺𝗮𝗻𝗮𝗴𝗲𝗺𝗲𝗻𝘁 𝗮𝗻𝗱 𝘃𝗮𝗹𝘂𝗮𝘁𝗶𝗼𝗻-𝗱𝗿𝗶𝘃𝗲𝗻 𝗱𝗲𝗰𝗶𝘀𝗶𝗼𝗻𝘀, not thesis changes. 🟢 𝗪𝗵𝗮𝘁 𝘄𝗲 𝗯𝗼𝘂𝗴𝗵𝘁 These are the additions made during January: - $MSFT (Microsoft) at ~$447 and ~$425 (added after a sharp pullback) - $UNH (UnitedHealth) at ~$285 (after a sharp decline) - $2020.HK (Anta Sports) at ~76 HKD - Chinese Nike/Adidas with strong local dominance, just bought a majority stake in Puma and has more international exposure through a big stake in Amber sports - $1398.HK (Industrial And Commercial Bank of China) (ICBC) at ~6.18 HKD - largest bank in the world by assets, solid dividends, China exposure - $PDD (PDD Holdings Inc - ADR) at ~$104 and ~$109 - added after fast selloffs, long-term opportunity - $ETOR (eToro Group LTD) at ~$30 - new position; platform looks cheap in my view, close to half the market cap is cash - $EMAARDEV at ~16.15 AED - small starter position, UAE real estate (Middle East exposure) - $TCOM.CH (Trip.com Group Ltd-ADR) at ~$62 - added after a sharp one-day drop - $300.HK (Midea Group Co Ltd) (Midea) at ~83 HKD - strong Chinese industrial with global footprint and good dividend - $PBR.A (Petroleo Brasileiro ADR) at ~$11 - Brazil and $OIL exposure; already had a very strong month A mix of: - adding to existing high-quality names - and introducing new companies in 𝗖𝗵𝗶𝗻𝗮 𝗮𝗻𝗱 𝘁𝗵𝗲 𝗠𝗶𝗱𝗱𝗹𝗲 𝗘𝗮𝘀𝘁 to further reduce correlation and USD dependency. 📊 𝗕𝗲𝗻𝗰𝗵𝗺𝗮𝗿𝗸𝘀 (𝗬𝗧𝗗) - S&P 500: +1.17% - Global ETF like VT: +2.36% 📈 𝗝𝗮𝗻𝘂𝗮𝗿𝘆 𝗽𝗲𝗿𝗳𝗼𝗿𝗺𝗮𝗻𝗰𝗲 (𝗲𝗧𝗼𝗿𝗼 𝗽𝘂𝗯𝗹𝗶𝗰 𝗽𝗼𝗿𝘁𝗳𝗼𝗹𝗶𝗼) We closed January at approximately +3%, starting the year ahead of both the S&P 500 and global indices. This was driven mainly by: - emerging markets exposure (especially Brazil), - strong performance in selected tech and industrial names, - and disciplined buying during volatility. 🏆 𝗧𝗼𝗽 𝗽𝗲𝗿𝗳𝗼𝗿𝗺𝗲𝗿𝘀 𝗶𝗻 𝗝𝗮𝗻𝘂𝗮𝗿𝘆 (𝗲𝗧𝗼𝗿𝗼) $ASML ~+33% $PBR.A ~+28% $BIDU (Baidu, Inc.-ADR) ~+17% Emerging markets and selective tech did most of the heavy lifting. 🚀 𝗣𝗿𝗼 𝗜𝗻𝘃𝗲𝘀𝘁𝗼𝗿 𝘂𝗽𝗱𝗮𝘁𝗲 This month: - Around +10 net new copiers - Assets Under Copy reached a new all-time high: ~$1.55M 🤯 What I found especially interesting: funds stayed stable during the very weak last days of the month, meaning some people added funds or new copiers joined despite volatility. That kind of behavior matters more to me than short-term performance. 🧭 𝗙𝗶𝗻𝗮𝗹 𝘁𝗵𝗼𝘂𝗴𝗵𝘁𝘀 We keep investing for the long term. We keep adding gradually. And we keep building a portfolio that is more global, less correlated, and focused on quality. To everyone new: welcome 🤝 And to all copiers: thank you for the continued trust. It doesn’t go unnoticed. As always, any questions or curiosities, just ask 😉

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