Three portfolios ahead, and two more one-week round trips
After an update in which all seven Mosaic portfolios closed lower, the picture is mixed again: three beat their benchmark and three finished in positive territory. The spread between the best and the worst relative outcome is the widest in a month, from +3.28 points on UK100 to -4.39 points on Nasdaq100.
UK100 had the strongest result, gaining 2.48% while its benchmark lost 0.80%. The rotation brought BGEO.L back in place of PCT.L, and the hedge barely moved, at 9.01%.
Nasdaq100 was the weakest, down 3.97% against a benchmark up 0.42%. TER returned to the selection after four weeks out, replacing ROST, and the hedge eased to 11.69%. USA100 followed the same direction on a smaller scale, losing 1.80% versus +0.47%.
Europe was quieter. Europe50 lost 1.64% against -0.91% with no rotation, while Germany40 gained 0.52% against a benchmark up 0.88%, its eighth consecutive reading with an unchanged selection. Italy40 declined 0.75% but still beat its benchmark at -1.08%: ENEL.MI replaced ENI.MI and the hedge climbed to 17.22%.
Australia50 closed essentially flat at +0.02% against -0.46%, holding its selection and easing the hedge from 17.28% to 15.55%.
Two rotations restored a holding dropped one reading earlier: GEV on USA100 and BGEO.L on UK100. USA100 now holds exactly the five names it held two readings ago, which means MRK stayed in the portfolio for a single week.
Market Dashboard
| Market | Current Tickers | In | Out | Current Hedge | Previous Hedge | Portfolio change | Benchmark change |
|---|---|---|---|---|---|---|---|
| USA100 | MU, CAT, GEV, FDX, CSCO | GEV | MRK | 8.77% | 8.92% | -1.80% | 0.47% |
| Nasdaq100 | MU, TER, MRVL, ON, CSCO | TER | ROST | 11.69% | 12.65% | -3.97% | 0.42% |
| Europe50 | NOKIA.HE, ASML.AS, ENI.MI, BAYN.DE, ENGI.PA | - | - | 12.68% | 11.87% | -1.64% | -0.91% |
| Italy40 | STMMI.MI, SPM.MI, BPE.MI, PST.MI, ENEL.MI | ENEL.MI | ENI.MI | 17.22% | 14.15% | -0.75% | -1.08% |
| UK100 | CCC.L, GLEN.L, BGEO.L, SDR.L, BEZ.L | BGEO.L | PCT.L | 9.01% | 8.86% | 2.48% | -0.80% |
| Germany40 | IFX.DE, RWE.DE, ENR.DE, BAYN.DE, DHL.DE | - | - | 12.78% | 12.33% | 0.52% | 0.88% |
| Australia50 | BHP.AX, WOW.AX, WDS.AX, QBE.AX, SOL.AX | - | - | 15.55% | 17.28% | 0.02% | -0.46% |
Hedge levels are those produced by the model for the update of 28 August 2026. From the update of 25 September 2026 the hedge is no longer produced by the model: its level is derived from dynamic algorithmic monitoring tools and reaches subscribers by email as a hedge alert.
Monday Rebalance Note
At the next market open, bring each active Mosaic selection back toward equal weight and set the hedge to the level of the latest hedge alert. This update is research material only and is not personalized financial advice.