This article provides a factual breakdown of the current portfolio allocation and the underlying fundamentals
Portfolio Overview & Allocation**
The portfolio is heavily weighted toward high-growth technology, software-as-a-service (SaaS), and dominant fintech players. The total capital is distributed across 16 primary positions, with a significant concentration in Mega-cap US Tech.
Sector Allocation (by Market Value %
Mega-Cap Tech (Cloud/AI/Ad-Tech):** ~47.5% (MSFT, META, AMZN)
Enterprise Software/SaaS:** ~18.1% (NOW, CRM, FICO)
* **Fintech & Payments:** ~11.5% (V, SEZL, FISV, STNE)
* **Mobility & Logistics:** ~7.6% (UBER)
* **Financial Services/Information:** ~4.6% (SPGI)
* **Healthcare/Biotech:** ~3.4% (NVO)
* **Others (Emerging Markets/Consulting):** ~7.3% (MELI, QFIN, INFY)
### **Key Holdings: Fundamental Rationale**
#### **1. Microsoft Corp (MSFT) – 19.04% of Portfolio**
* **The "Why":** Anchor position.
* **Fundamentals:** Dominance in enterprise computing via Office 365 and Azure. Microsoft is currently a primary beneficiary of AI integration through its partnership with OpenAI.
#### **2. Meta Platforms Inc (META) – 19.03% of Portfolio**
* **The "Why":** Core exposure to the digital advertising duopoly.
* **Fundamentals:** Massive user base (3.9 billion+ monthly active users across apps). Strong free cash flow generation and a pivot toward "Year of Efficiency" which has streamlined costs while reinvesting in AI-driven ad targeting.
#### **3. Amazon.com Inc (AMZN) – 9.42% of Portfolio**
* **The "Why":** Dual-moat strategy (E-commerce + Cloud).
* **Fundamentals:** AWS remains the global leader in cloud infrastructure. The retail side has shifted toward a regionalized fulfillment model, significantly improving margins and delivery speeds.
#### **4. Fair Isaac Corp (FICO) – 7.70% of Portfolio**
* **The "Why":** Monopoly-like pricing power.
* **Fundamentals:** FICO scores are the industry standard for consumer credit in the US. They possess immense pricing power because their scores are deeply embedded in the lending ecosystem, making the service essential and "sticky."
#### **5. Uber Technologies Inc (UBER) – 7.63% of Portfolio**
* **The "Why":** Network effect dominance.
* **Fundamentals:** Transitioned from a "growth at all costs" model to consistent GAAP profitability. It dominates both ride-sharing and delivery markets, benefiting from a massive data advantage in logistics.
### **Performance Data Highlights**
* **Top Performer (Percentage):** **Sezzle Inc (SEZL)** at **+78.55%**. This reflects a high-conviction play in the BNPL (Buy Now, Pay Later) space that has found a profitable niche.
* **Underperformers (Current Drawdowns):** * **Salesforce (CRM):** -25.52%
* **Novo Nordisk (NVO):** -22.77%
* Despite these paper losses, the fundamentals for NVO remain tied to the massive global demand for GLP-1 medications (Ozempic/Wegovy), while CRM remains the global leader in CRM software.
### **Investment Strategy Summary**
The portfolio is parked in **market leaders**. The strategy relies on:
1. **Dominant Moats:** Most holdings (Visa, Microsoft, S&P Global) have high barriers to entry.
2. **Scalability:** Companies like ServiceNow and Salesforce can scale revenue with relatively low incremental costs.
3. **Geographic Diversification:** While US-heavy, it includes exposure to Latin America (MELI, STNE), India (INFY), and Europe (NVO).
$Visa(V)$ $MercadoLibre(MELI)$ $Microsoft(MSFT)$ $Meta Platforms, Inc.(META)$ $Amazon.com(AMZN)$
Comments