We are slightly reducing the size of our holding in AGL Energy (AGL) into current strength. The speed of its rally has surprised us, and while we see higher levels over time, we think the short term is more muted.
MM are trimming AGL in the Active Income Portfolio, reducing by 1% to a 3% weighting around $8.50
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We are trimming our large overweight in Telstra (TLS) down to a more moderate holding after the stocks rally – increasing cash / defence the dominate reason.
MM are trimming TLS in the Active Income Portfolio, reducing by 2% to a 5% weighting around $4.28
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We are trimming Wesfarmers (WES) back to a 4% weighting to improve flexibility within the portfolio.
MM are trimming WES in the Active Income Portfolio, reducing by 2% to a 4% weighting around $52.00
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