UK100 Leads, Nasdaq100 Lags, and Two More One-Week Round Trips
After a week in which all seven Mosaic portfolios closed lower, the August 28 update is mixed: three portfolios beat their benchmark and three finished the week 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. Four markets rotated one position each, and two of those rotations restored a holding dropped exactly one week earlier.
UK100 had the strongest week of the group, 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%, giving back more than the previous two weeks combined. 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%, the highest of the group.
Australia50 closed essentially flat at +0.02% against -0.46%, holding the selection it adopted a week ago and easing its hedge from 17.28% to 15.55%.
Compact Weekly Dashboard
| Market | Current Tickers | Rotation | Hedge | Portfolio | Benchmark |
|---|---|---|---|---|---|
| USA100 | MU, CAT, GEV, FDX, CSCO | In: GEV Out: MRK | 8.77% | -1.80% | 0.47% |
| Nasdaq100 | MU, TER, MRVL, ON, CSCO | In: TER Out: ROST | 11.69% | -3.97% | 0.42% |
| Europe50 | NOKIA.HE, ASML.AS, ENI.MI, BAYN.DE, ENGI.PA | No change | 12.68% | -1.64% | -0.91% |
| Germany40 | IFX.DE, RWE.DE, ENR.DE, BAYN.DE, DHL.DE | No change | 12.78% | 0.52% | 0.88% |
| Italy40 | STMMI.MI, SPM.MI, BPE.MI, PST.MI, ENEL.MI | In: ENEL.MI Out: ENI.MI | 17.22% | -0.75% | -1.08% |
| UK100 | CCC.L, GLEN.L, BGEO.L, SDR.L, BEZ.L | In: BGEO.L Out: PCT.L | 9.01% | 2.48% | -0.80% |
| Australia50 | BHP.AX, WOW.AX, WDS.AX, QBE.AX, SOL.AX | No change | 15.55% | 0.02% | -0.46% |
The Round Trips Continue, on Two New Markets
The previous update described three rotations that reversed decisions taken seven days earlier. The pattern did not stop: this week it moved to two markets that had been stable, and in both cases the position that had just been sold came back.
| Market | August 21 | August 28 | Net effect over two weeks |
|---|---|---|---|
| USA100 | In MRK / Out GEV | In GEV / Out MRK | None |
| UK100 | In BEZ.L / Out BGEO.L | In BGEO.L / Out PCT.L | BEZ.L for PCT.L |
USA100 now holds exactly the five names it held on August 14, and on July 24 before that: MRK stayed in the portfolio for a single week. UK100 is a partial round trip — BGEO.L returns after one week out, but the position it replaces this time is PCT.L rather than BEZ.L, so the net change over two weeks is one holding.
Italy40 shows the same closely bunched ranking in a different form: ENEL.MI returns after four weeks out, and the market has now changed at least one position in five of the last six updates. Its hedge, at 17.22%, is the highest reading of the group and consistent with that instability.
Portfolio Message
Two markets have gone the other way entirely. Germany40 has held the same five holdings for eight consecutive readings, since July 10, and Europe50 is unchanged this week after its own two-week round trip. Stability and churn are appearing side by side, which is what a selection driven by trend and stability scores does when candidates are ranked closely in some markets and clearly separated in others.
On performance, the alternation of the last few weeks continues rather than resolving: the portfolios led on August 7, held a narrow edge on August 14, lagged broadly on August 21, and split three to four this week. Nothing in a single weekly reading distinguishes that pattern from noise, and the framework is built to be judged over months rather than weeks.
Hedge levels fell on three markets and rose on four, with no common direction — another sign that the current configuration is defensive rather than directional.
This weekly update is research material only and is not personalized financial advice.
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