Portfolio Overview
The Emerging Markets Portfolio continues to offer diversified exposure across key emerging economies, including Brazil, Taiwan, India, South Korea, and Latin America. As of July 30, 2026, the portfolio holds eight positions, with the most recent addition being MercadoLibre (MELI), picked on July 30.
Performance Highlights
Embraer (EMBJ) remains the portfolio’s top performer, delivering a +26.55% return since its pick on June 11. The Brazilian aerospace company has benefited from strong commercial aviation demand and a favorable currency environment.
On the downside, AP Memory (APP) has declined -16.97% since its pick on June 18. The Taiwan-based memory chip designer has faced headwinds from a cyclical downturn in memory prices and weak demand in consumer electronics.
Other notable movers include Bajaj Finance (ARI) (-6.88%) and HDFC Bank (HDB) (-5.56%), both reflecting broader Indian financial sector volatility. MercadoLibre (MELI) has gained +1.20% in its first day, while Reliance Industries (RLLWF) and Samsung Electronics (SSNLF) are flat.
Risk and Concentration
India now represents a significant portion of the portfolio, with four of eight positions (HDFC Bank, Reliance, TCS, and Bajaj Finance) headquartered there. This concentration increases sensitivity to Indian economic and regulatory developments. While India remains a compelling long-term growth story, we are mindful of the elevated exposure.
AP Memory’s sharp decline warrants monitoring. The stock is still within its minimum holding period, and we will reassess its thesis if it fails to stabilize. No position is being closed this week, as all are protected by the minimum holding period policy.
What to Watch
- Embraer’s ability to sustain its momentum amid global supply chain constraints.
- AP Memory’s next earnings report for signs of a memory price recovery.
- Indian financial sector performance, especially for HDFC Bank and Bajaj Finance.
- MercadoLibre’s integration into the portfolio and its e-commerce growth in Latin America.
Conclusion
The portfolio remains well-positioned to capture emerging market growth, with strong performers offsetting temporary setbacks. We will continue to monitor risk concentration and fundamental developments, making adjustments only when theses break or valuations become excessive.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Past performance is not indicative of future results. Always conduct your own research or consult a financial advisor before making investment decisions.