๐ ๐ฃ๐ผ๐ฟ๐๐ณ๐ผ๐น๐ถ๐ผ ๐จ๐ฝ๐ฑ๐ฎ๐๐ฒ: ๐๐ฒ๐ ๐ฆ๐๐ผ๐ฐ๐ธ ๐ก๐ฒ๐๐ ๐ข๐ณ ๐ง๐ต๐ถ๐ ๐ฃ๐ฎ๐๐ ๐ช๐ฒ๐ฒ๐ธ (๐ฐ๐ฌ) ๐
๐ฟ๐๐๐ง ๐พ๐ค๐ฅ๐๐๐ง๐จ ๐ค๐ ๐๐๐ฉ๐ค๐ผ๐๐ช๐๐ฉ๐๐๐ค'๐จ ๐ช๐ ๐๐๐๐๐ผ ๐๐๐๐ ๐ฟ๐๐๐๐ฟ๐๐๐ฟ ๐๐๐๐๐๐๐๐๐ ๐๐ช
Below are five holdings and/or thematic exposures that saw meaningful activity this past week, relevant to our ongoing portfolio strategy:
๐ญ. ๐๐ฟ๐ผ๐ฎ๐ฑ๐ฐ๐ผ๐บ ๐๐ป๐ฐ ($AVGO (Broadcom Inc))
๐๐ฅ ๐ฆ๐ข๐ณ๐ฏ๐ช๐ฏ๐จ๐ด ๐ฃ๐ฆ๐ข๐ต ๐ฅ๐ณ๐ช๐ท๐ฆ๐ฏ ๐ฃ๐บ ๐๐ ๐ค๐ฉ๐ช๐ฑ ๐ฅ๐ฆ๐ฎ๐ข๐ฏ๐ฅ; ๐ณ๐ข๐ช๐ด๐ฆ๐ด ๐ง๐ถ๐ญ๐ญ-๐บ๐ฆ๐ข๐ณ ๐ฐ๐ถ๐ต๐ญ๐ฐ๐ฐ๐ฌ
- Broadcom reported Q3 revenue of $14.6B, exceeding estimates, with AI-related semiconductor sales up over 40% YoY, now representing more than 35% of total chip revenue.
- Management raised FY25 revenue guidance to $58B, citing strong hyperscaler demand and solid VMware integration progress.
๐ฃ๐ผ๐ฟ๐๐ณ๐ผ๐น๐ถ๐ผ ๐๐บ๐ฝ๐น๐ถ๐ฐ๐ฎ๐๐ถ๐ผ๐ป: Strong AI tailwinds continue to support structural earnings growth; remains a core tech holding with positive momentum.
๐ฎ. ๐๐ฟ๐ถ๐๐ถ๐๐ต ๐๐บ๐ฒ๐ฟ๐ถ๐ฐ๐ฎ๐ป ๐ง๐ผ๐ฏ๐ฎ๐ฐ๐ฐ๐ผ ($BATS.L (British American Tobacco))
๐๐ญ๐ข๐ฏ๐ด ๐ต๐ฐ ๐ด๐ฆ๐ญ๐ญ ๐ฏ๐ฐ๐ฏ-๐ค๐ฐ๐ณ๐ฆ ๐ฐ๐ฑ๐ฆ๐ณ๐ข๐ต๐ช๐ฐ๐ฏ๐ด ๐ช๐ฏ ๐๐ถ๐ด๐ด๐ช๐ข ๐ข๐ฏ๐ฅ ๐๐ฆ๐ญ๐ข๐ณ๐ถ๐ด ๐ง๐ช๐ฏ๐ข๐ญ๐ช๐ด๐ฆ๐ฅ
- BAT confirmed it will fully exit Russia and Belarus by end-2025, transferring operations to a local consortium, aligning with earlier exit commitments.
- The divestment, valued near $1.5B, removes a politically sensitive region from its footprint while modestly trimming volume exposure.
๐ฃ๐ผ๐ฟ๐๐ณ๐ผ๐น๐ถ๐ผ ๐๐บ๐ฝ๐น๐ถ๐ฐ๐ฎ๐๐ถ๐ผ๐ป: De-risking move that simplifies geographic exposure; limited earnings hit, modestly positive for ESG positioning.
๐ฏ. ๐ง๐ผ๐๐ผ๐๐ฎ ($TM (Toyota Motor Corporation-ADR))
๐๐ข๐ถ๐ฏ๐ค๐ฉ๐ฆ๐ด ๐ฏ๐ฆ๐ธ ๐๐ ๐ฑ๐ญ๐ข๐ต๐ง๐ฐ๐ณ๐ฎ; ๐ข๐ช๐ฎ๐ด ๐ต๐ฐ ๐ฅ๐ฐ๐ถ๐ฃ๐ญ๐ฆ ๐ฆ๐ญ๐ฆ๐ค๐ต๐ณ๐ช๐ค ๐ฐ๐ถ๐ต๐ฑ๐ถ๐ต ๐ฃ๐บ ๐ค๐ข๐ค๐จ
- Toyota unveiled a next-generation EV platform to underpin its upcoming models, with plans to double EV output to over 600,000 units annually by 2026.
- Management emphasised battery efficiency improvements and cost reductions to enhance competitiveness against Chinese and U.S. peers.
๐ฃ๐ผ๐ฟ๐๐ณ๐ผ๐น๐ถ๐ผ ๐๐บ๐ฝ๐น๐ถ๐ฐ๐ฎ๐๐ถ๐ผ๐ป: Strategic acceleration in EVs could narrow its gap with pure-play rivals; watch margin execution and delivery timelines.
๐ฐ. ๐๐๐ฃ ๐๐ถ๐น๐น๐ถ๐๐ผ๐ป ($BHP.L (BHP Group Ltd ))
๐๐ณ๐ฐ๐ฏ ๐ฐ๐ณ๐ฆ ๐ด๐ฉ๐ช๐ฑ๐ฎ๐ฆ๐ฏ๐ต๐ด ๐ข๐ง๐ง๐ฆ๐ค๐ต๐ฆ๐ฅ ๐ฃ๐บ ๐ธ๐ฆ๐ข๐ต๐ฉ๐ฆ๐ณ ๐ฅ๐ช๐ด๐ณ๐ถ๐ฑ๐ต๐ช๐ฐ๐ฏ๐ด; ๐จ๐ถ๐ช๐ฅ๐ข๐ฏ๐ค๐ฆ ๐ฎ๐ข๐ช๐ฏ๐ต๐ข๐ช๐ฏ๐ฆ๐ฅ
- Temporary weather issues in Western Australia impacted August shipments, though BHP kept FY25 production guidance unchanged, citing flexibility in supply chains.
- Analysts view the disruption as transitory, with potential catch-up volumes later in the quarter.
๐ฃ๐ผ๐ฟ๐๐ณ๐ผ๐น๐ถ๐ผ ๐๐บ๐ฝ๐น๐ถ๐ฐ๐ฎ๐๐ถ๐ผ๐ป: Minor near-term headwind but guidance stability reinforces operational resilience; maintain core commodity exposure.
๐ฑ. ๐๐ซ๐ ๐๐ฟ๐ผ๐๐ฝ ($CS.PA (AXA Group))
๐๐ฆ๐ช๐ฏ๐ด๐ถ๐ณ๐ข๐ฏ๐ค๐ฆ ๐ณ๐ข๐ต๐ฆ ๐ฉ๐ช๐ฌ๐ฆ๐ด ๐ด๐ถ๐ฑ๐ฑ๐ฐ๐ณ๐ต ๐ฆ๐ข๐ณ๐ฏ๐ช๐ฏ๐จ๐ด ๐ฐ๐ถ๐ต๐ญ๐ฐ๐ฐ๐ฌ; ๐ด๐ต๐ณ๐ข๐ต๐ฆ๐จ๐ช๐ค ๐ฅ๐ช๐ด๐ฑ๐ฐ๐ด๐ข๐ญ๐ด ๐ฆ๐บ๐ฆ๐ฅ
- Industry data shows global reinsurance pricing rose 7% YoY into September renewals, supporting AXAโs profitability in its reinsurance segment.
- Additionally, reports suggest AXA may explore the sale of select non-core European operations to sharpen its strategic focus.
๐ฃ๐ผ๐ฟ๐๐ณ๐ผ๐น๐ถ๐ผ ๐๐บ๐ฝ๐น๐ถ๐ฐ๐ฎ๐๐ถ๐ผ๐ป: Positive for underwriting margins and strategic optionality; modest valuation tailwind if disposals proceed.
๐๐๐ฅ๐ฅ๐ฎ ๐ฉ๐ง๐๐๐๐ฃ๐!
๐๐๐จ๐๐ ๐... Show More
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Sun Nov 16 2025 06:45:10 GMT+0000 (Coordinated Universal Time)
