Mex Pete Model Portfolio — April 24, 2026
[Source: Mex Pete Model Portfolio PDF, Property Sharemarket Economics, 2026-04-24]
Summary
The April 24, 2026 model portfolio snapshot tracks 28 positions across agriculture, energy, mining, gold, banking, and currency sectors. Three active long positions remain open (DBA, FUEL, XOM); the majority of 2025 positions were exited via stop-loss through Q4 2025 and Q1 2026. The portfolio reflects late-cycle sector rotation consistent with the PSE 18.6-year framework: commodities and energy overweight, banking and construction underweight following Q1 2026 stop-out events.
Active Positions (as of April 24, 2026)
| # | Ticker | Name | Exchange | In | Price In | Stop | Current |
|---|---|---|---|---|---|---|---|
| 1 | DBA | Invesco DB Agriculture Fund | US | 10-Mar-2026 | 26.55 | 25.00 | 27.40 |
| 2 | FUEL | BetaShares Global Energy Companies | AU | 16-Jan-2026 | 6.97 | 6.50 | 8.64 |
| 3 | XOM | Exxon Mobil Corporation | US | 16-Jan-2026 | 129.13 | 115.00 | 150.53 |
Stop levels moved (22-Apr-2026):
- DBA: stop moved to 26.80
- XOM: stop moved to 144
Recently Stopped Positions (Q1–Q2 2026)
| # | Ticker | Out Date | P/L |
|---|---|---|---|
| CNX | CNX Resources | 22-Apr-2026 | -4.02 |
| WBC | Westpac Banking | 25-Mar-2026 | -2.25 |
| GLD | SPDR Gold Shares ETF | 23-Mar-2026 | +91.71 |
| RIO | Rio Tinto Ltd | 23-Mar-2026 | +9.85 |
| KBE | S&P Bank ETF | 9-Mar-2026 | -7.70 |
| UMBF | UMB Financial | 25-Feb-2026 | -14.24 |
Key Observations
- Gold (GLD): Entered Sep 9, 2025 at 334.70; exited Mar 23, 2026 at 426.41 stop-triggered — +91.71 profit, the largest winner in the portfolio. This confirms the PSE late-cycle gold rotation thesis.
- Banking exits: KBE (-7.70) and UMBF (-14.24) both stopped out in Feb–Mar 2026, consistent with the PSE private credit crumble narrative and Q1 banking stress.
- USD bearish stance: Historical positions in DXY Short and UDN Long (both closed Oct 2024) reflect PSE’s USD weakness thesis; now currency-neutral in active book.
- Agriculture (DBA): Only US commodity ETF still active; stop adjusted upward (25.00 → 26.80) as of Apr 22 indicating confidence in continuation.
- Energy (FUEL + XOM): Both still active since Jan 2026; XOM up from 129.13 → 150.53 (+16.6%), stop moved to 144. Late-cycle energy thesis intact.
- CNX Resources: Stopped out Apr 22 2026 at 37.89 (in at 41.91, -4.02) — natural gas exposure removed.
Historical Portfolio Notes
Earlier positions (2023–2024) included: GOR (Gold Road), SFR (Sandfire), WIRE (Global X Copper Miners), GMD (Genesis Minerals), LYC (Lynas Rare Earths), RSG (Resolute Mining), GDX (VanEck Gold Miners ETF), LOW (Lowe’s), SKWD (Skyward Specialty), RRC (Range Resources). These reflect the early-cycle phase commodity/mining accumulation before the 2025–26 correction phase.
Related Pages
- Mex Pete Trading Style — conceptual framework for PSE stock selection
- Sector Rotation — HALO stocks rotation thesis
- Gold — GLD trade confirms late-cycle gold peak and correction
- Private Credit — banking stops (KBE, UMBF) aligned with Feb–Mar 2026 crumble
- PSE Watchlists Index — all watchlist versions