International Rebalance for End March 2026
Starting this month, we schedule rebalances for month-end and notify early. Lightening consumer discretionary exposure and avoiding energy risks to Asia seems wise now.
The Savvy Yabby Report distributes our institutional grade model portfolios to paying subscribers on a monthly basis. The current list includes these strategies.
Australian 20 Stock Model Portfolio
USA 20 Stock Model Portfolio
International (non-USA) 20 Stock Model Portfolio
Global Best Ideas 25 Stock Model Portfolio
The existing research notes and newsletter offer remains, but you will see some tighter integration between what we write there and the model portfolios.
The licensing and complaints procedure is outlined in our Financial Services Guide.
These portfolios follow the Jevons Global investment process.
1.19MB ∙ PDF file
The last change to the model portfolio was effective at close 30-Jan-2026.
On the last portfolio change, which happened pre-war we exited these positions:
MQG.AX Macquarie Group Ltd Def
PBR.N Petroleo Brasileiro Sa Petrobras
9101.T Nippon Yusen
PHIA.AS Koninklijke Philips Nv
GMG.AX Goodman Group Units
The one change we regret, was removing Brazilian oil major Petrobras. While there were negotiations happening between the USA and Iran at the time, we thought a new war in the Persian Gulf was too crazy to contemplate. Silly me.
The new additions at the same time were:
D05.SI Dbs Group Holdings Ltd
8411.T Mizuho Financial Group Inc
9988.HK Alibaba Group Holding Ltd
3750.HK Contemporary Amperex Technology Lt
7013.T Ihi Corp
I remain content with these additions but note that there is severe supply risk to the Asian energy market, and some elevated risk for consumer names. The high natural gas prices in both Asia and Europe are likely to negatively impact industrial.
The main theme of this rebalance is a more defensive posture.
The main areas we seek to strengthen are hedging to higher energy prices, the risk of higher interest rates, and the possibility of a consumer slowdown.
In spite of the sharp -9.02% fall in the benchmark FTSE Global All Cap Index (ETF: VT) our International 20 Model Portfolio fell a lesser -8.26% for a positive lead of +0.75%.
The main changes this month are to reverse our (bad) Petrobras exit and shore up some of the more obvious risks in European industrials and the Asian consumer.
The updates for close-of-trade 31-Mar-2026 are below the paywall.
