Insight into the International Investment Moves of the Fourth Quarter 2023
iShares MSCI ACWI ex U.S. ETF (Trades, Portfolio), known for its strategy of tracking non-U.S. equities, has revealed its investment activities for the fourth quarter of 2023 through the latest N-PORT filing. The ETF aims to mirror the performance of the MSCI ACWI ex USA Index, which represents large and mid-cap stocks across various developed and emerging markets, excluding the United States. This index is a broad measure of global equity performance, covering approximately 85% of the investable equity market outside the U.S.
Summary of New Buys
iShares MSCI ACWI ex U.S. ETF (Trades, Portfolio) expanded its portfolio with 49 new stocks. Noteworthy additions include:
- CRH PLC (LSE:CRH, Financial), with 144,432 shares, making up 0.19% of the portfolio and valued at £7.75 million.
- Nordea Bank Abp (LTS:0N4T, Financial), comprising 583,612 shares, which is approximately 0.15% of the portfolio, with a total value of kr61.47 million.
- STMicroelectronics NV (MIL:STMMI, Financial), with 124,249 shares, accounting for 0.12% of the portfolio and a total value of €4.74 million.
Key Position Increases
The ETF also raised its stakes in 139 stocks, with significant increases in:
- Honda Motor Co Ltd (TSE:7267, Financial), adding 553,000 shares for a total of 835,000 shares. This represents a 196.1% increase in share count, impacting the portfolio by 0.14%, and a total value of ¥855.77 million.
- Tencent Holdings Ltd (HKSE:00700, Financial), with an additional 76,700 shares, bringing the total to 1,218,800. This adjustment marks a 6.72% increase in share count, with a total value of HK$451.06 million.
Summary of Sold Out Positions
iShares MSCI ACWI ex U.S. ETF (Trades, Portfolio) exited 40 holdings in the fourth quarter of 2023, including:
- CRH PLC (DUB:CRG, Financial), selling all 146,047 shares, which had a -0.19% impact on the portfolio.
- STMicroelectronics NV (LTS:0INB, Financial), liquidating all 125,979 shares, causing a -0.15% impact on the portfolio.
Key Position Reductions
Position reductions were made in 1,232 stocks. The most significant changes are:
- Naspers Ltd (JSE:NPN, Financial) was reduced by 180,164,360 shares, resulting in a -99.98% decrease and a -0.15% impact on the portfolio. The stock traded at an average price of R3,166.87 during the quarter and has seen a -11.79% return over the past three months and -2.65% year-to-date.
- Nestle SA (XSWX:NESN, Financial) was reduced by 18,165 shares, a -3.61% decrease, impacting the portfolio by -0.05%. The stock's average trading price was CHF103.72 during the quarter, with a -9.07% return over the past three months and -6.92% year-to-date.
Portfolio Overview
As of the fourth quarter of 2023, the iShares MSCI ACWI ex U.S. ETF (Trades, Portfolio)'s portfolio comprised 1,880 stocks. The top holdings included 1.82% in Taiwan Semiconductor Manufacturing Co Ltd (TPE:2330, Financial), 1.42% in Novo Nordisk A/S (OCSE:NOVO B, Financial), 1.3% in Nestle SA (XSWX:NESN), 1.12% in Tencent Holdings Ltd (HKSE:00700, Financial), and 1.1% in ASML Holding NV (XAMS:ASML, Financial). The investments are predominantly spread across 11 industries, including Financial Services, Industrials, Technology, and others, reflecting a diverse international exposure.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
