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Equity Radar US portfolio

Picture of Peter Garnry
Peter Garnry

Chief Investment Strategist

As readers may have noticed, we have begun tracking our top 20 US equity picks in our Equity Radar model that we often use in webinars, the morning call and presentations. The portfolio was off to a strong start in June, up 5% as of June 6, but the pressure from the escalating trade war between the US and China hit the portfolio’s semiconductor holdings.

Red Hat also delivered a disappointing earnings release with a billings shortfall that took the market by surprise given the consensus that Red Hat has a very attractive long-term outlook. As of yesterday the portfolio is down 0.26% with the benchmark S&P 500 up 0.53%. Since inception the portfolio is up 0.07% with the S&P 500 up 0.05%

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Source: Bloomberg

July portfolio rebalancing

Based on changing scores in our Equity Radar model, nine stocks are leaving the portfolio. Below is an overview of the changes.

Selling: ABIOMED, Best Buy, Cisco, DXC Technology, Garmin, NetApp, Red Hat, S&P Global, State Street
Buying: Micron Technology, HollyFrontier, H&R Block, KLA-Tencor, Intel, Valero Energy, Ralph Lauren, Expeditors International of Washington, IPG Photonics

The current portfolio is still dominated by IT stocks but today’s rebalancing means that two energy companies (Valero Energy and HollyFrontier) are entering the portfolio which is a natural extension of the bull market in global energy stocks.  The portfolio characteristics are concentrated around high quality, high momentum and high reversal scores.

Top 20 US equities in our Equity Radar model:

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Source: Bloomberg, Saxo Bank

Quarterly Outlook

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    Quarterly Outlook

    Upending the global order at blinding speed

    John J. Hardy

    Global Head of Macro Strategy

    We are witnessing a once-in-a-lifetime shredding of the global order. As the new order takes shape, ...
  • Equity outlook: The high cost of global fragmentation for US portfolios

    Quarterly Outlook

    Equity outlook: The high cost of global fragmentation for US portfolios

    Charu Chanana

    Chief Investment Strategist

  • Asset allocation outlook: From Magnificent 7 to Magnificent 2,645—diversification matters, now more than ever

    Quarterly Outlook

    Asset allocation outlook: From Magnificent 7 to Magnificent 2,645—diversification matters, now more than ever

    Jacob Falkencrone

    Global Head of Investment Strategy

  • Commodity Outlook: Commodities rally despite global uncertainty

    Quarterly Outlook

    Commodity Outlook: Commodities rally despite global uncertainty

    Ole Hansen

    Head of Commodity Strategy

  • Macro outlook: Trump 2.0: Can the US have its cake and eat it, too?

    Quarterly Outlook

    Macro outlook: Trump 2.0: Can the US have its cake and eat it, too?

    John J. Hardy

    Global Head of Macro Strategy

  • Equity Outlook: The ride just got rougher

    Quarterly Outlook

    Equity Outlook: The ride just got rougher

    Charu Chanana

    Chief Investment Strategist

  • China Outlook: The choice between retaliation or de-escalation

    Quarterly Outlook

    China Outlook: The choice between retaliation or de-escalation

    Charu Chanana

    Chief Investment Strategist

  • Commodity Outlook: A bumpy road ahead calls for diversification

    Quarterly Outlook

    Commodity Outlook: A bumpy road ahead calls for diversification

    Ole Hansen

    Head of Commodity Strategy

  • FX outlook: Tariffs drive USD strength, until...?

    Quarterly Outlook

    FX outlook: Tariffs drive USD strength, until...?

    John J. Hardy

    Global Head of Macro Strategy

  • Fixed Income Outlook: Bonds Hit Reset. A New Equilibrium Emerges

    Quarterly Outlook

    Fixed Income Outlook: Bonds Hit Reset. A New Equilibrium Emerges

    Althea Spinozzi

    Head of Fixed Income Strategy

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