−3.4%
since Sep 4
The idea
I believe the center of economic gravity keeps moving East over the coming decades, and I'd rather own that whole shift than pick one winner. China is the biggest tilt, since its top companies still grow while priced like the country is done, with India as a core position on the strength of its demographics. Around that sit Asia's established tech leaders, smaller economies benefiting as trade and capital reroute, broad emerging-market funds, and a small Bitcoin stake as a hedge on Western money itself.
What it owns
- Established Chinese businesses trading at steep discounts to Western peers despite ongoing profitability and market position. · KraneShares CSI China Internet ETFIt holds a basket of China's largest internet platforms, whose earnings power may exceed what current market prices suggest about the durability of Beijing's regulatory environment., Alibaba GroupChina's biggest commerce and cloud company still trades at a fraction of Western peers despite its scale and reinvestment in artificial intelligence., PDD HoldingsFastest growing among China's big commerce companies and exports its model worldwide through Temu, winning whether consumers trade up or down., NetEaseMakes games people pay for regardless of economic conditions, throwing off cash while priced like a business in decline.22%
- Companies positioned to capture earnings growth as India's large young population enters the consumer economy and formal financial system. · iShares MSCI India ETFOwns India's stock market broadly, capturing the demographic story without betting on individual company execution., ICICI BankProfits directly from each Indian household getting its first credit card, mortgage, or business loan as the economy grows., InfosysRepresents India exporting skilled labor worldwide, capturing demand from Western companies outsourcing technology work to the region., MakeMyTripOwns online travel booking in India just as hundreds of millions of Indians start flying and taking hotel trips for the first time.20%
- Dominant technology platforms and manufacturers across Asia that benefit from the region's economic growth and technological advancement. · Taiwan SemiconductorMakes nearly every advanced chip on earth, so it collects a toll on the region's entire technology ecosystem., Sea LimitedRuns dominant online shopping and payments platforms across Southeast Asia as six hundred million people come online economically., CoupangBuilt the dominant online retailer in South Korea, one of Asia's richest consumer markets, and is expanding into Taiwan.18%
- Countries and companies serving as hubs and bridges for trade, capital, and commerce flowing across Asia and between continents. · VanEck Vietnam ETFVietnam is the clearest beneficiary of supply chains moving out of China, and this fund owns its market broadly., iShares MSCI Saudi Arabia ETFSaudi Arabia is becoming a trade and capital bridge between East and West, using oil revenue to fund economic diversification., Grab HoldingsOperates rides, food delivery, and payments across eight Southeast Asian countries, growing as the region's middle class expands., iShares MSCI Singapore ETFSingapore acts as the neutral hub where Asian trade, banking, and wealth management get routed between China, India, and the West.13%
- Wide-based emerging markets holdings that provide exposure to the entire region's growth story beyond specific bets. · iShares MSCI Emerging Markets ETFWidest possible emerging markets holding, serving as ballast for parts of the growth story that remain unpredicted., iShares MSCI Emerging Markets ex-China ETFHolds emerging markets with China removed, so the portfolio's ballast doesn't secretly double down on its intentional China bets.10%
- Digital assets held as insurance against erosion of confidence in traditional currency systems. · iShares Bitcoin TrustProvides insurance against loss of confidence in dollar-based systems and functions as a neutral store of value.7%
- Cash10%