Benchmarks Recover While Mosaic Rotates Selectively
The July 10 weekly update shows a more difficult portfolio week than the benchmark tape suggests. US and Australian benchmarks closed positive, but Mosaic selections lagged in several markets after the append-only weekly refresh.
USA100 was the only positive Mosaic portfolio this week, gaining 0.97% against a benchmark advance of 1.37%. The selection remained unchanged with MU, CAT, FDX, GOOGL and SLB, while the benchmark hedge stayed close to 8%.
The sharpest relative pressure remained in technology. Nasdaq100 declined 4.74% while its benchmark rose 1.81%. The portfolio rotated into GFS and removed RKLB, keeping a benchmark hedge of about 11%.
European portfolios also had a negative week. Europe50 fell 2.87% versus a benchmark decline of 0.95%, while Germany40 dropped 4.89% against -1.94% for the benchmark. Both markets kept their current selections unchanged.
Italy40 rotated more visibly. BPE.MI and IG.MI entered the selection, replacing TIT.MI and SRG.MI. The portfolio declined 2.53%, while the benchmark was almost flat at -0.07%.
UK100 added SDR.L and removed AAF.L, closing the week at -1.91% versus -1.19% for the benchmark. Australia50 is included in the weekly processing set and rotated into ANZ.AX, removing LYC.AX; the portfolio fell 3.38% despite a benchmark gain of 1.28%.
Compact Weekly Dashboard
| Market | Current Tickers | Rotation | Hedge | Portfolio | Benchmark |
|---|---|---|---|---|---|
| USA100 | MU, CAT, FDX, GOOGL, SLB | No change | 8.03% | 0.97% | 1.37% |
| Nasdaq100 | MU, TER, MRVL, NBIS, GFS | In: GFS Out: RKLB |
10.91% | -4.74% | 1.81% |
| Europe50 | NOKIA.HE, ASML.AS, IFX.DE, ENI.MI, ENGI.PA | No change | 8.33% | -2.87% | -0.95% |
| Germany40 | ENR.DE, IFX.DE, RWE.DE, BAYN.DE, DHL.DE | No change | 11.81% | -4.89% | -1.94% |
| Italy40 | STMMI.MI, SPM.MI, PRY.MI, BPE.MI, IG.MI | In: BPE.MI, IG.MI Out: TIT.MI, SRG.MI |
12.30% | -2.53% | -0.07% |
| UK100 | GLEN.L, ANTO.L, CCC.L, IGG.L, SDR.L | In: SDR.L Out: AAF.L |
9.06% | -1.91% | -1.19% |
| Australia50 | RIO.AX, EVN.AX, WOW.AX, WDS.AX, ANZ.AX | In: ANZ.AX Out: LYC.AX |
22.70% | -3.38% | 1.28% |
The weekly refresh was run with append-only historical data and weekly haircuts set to 1.0. Australia50 is part of the current monitored set.
Portfolio Message
The current setup calls for disciplined monitoring rather than broad interpretation from benchmark direction alone. Several benchmarks improved or held up better than the selected portfolios, so next week's confirmation matters for whether the weakness is temporary rotation noise or a broader loss of leadership.
This weekly update is research material only and is not personalized financial advice.
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