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The portfolio slipped -1.34% over the past week while cash sits at 7%, things actually felt worse at times which may be indicative of the markets “feel” at the moment. The portfolio experienced another very mixed week with notable strength from a2 Milk (A2M) and Bravura (BVS) while Lend Lease (LLC) and Zip (Z1P) weighed on the portfolio – on the surface Commonwealth Bank (CBA) also struggled but it should be remembered it paid a $2 fully franked dividend.
While we have considered potential tweaks to this portfolio the picture felt clear with BHP Group (BHP) soaring in London but what a difference a few hours can make. Moving forward we are considering the following:
- Reducing our BHP Group (BHP) position and switching the funds into the likes of Santos (STO) & / or OZ Minerals (OZL) – may not look as attractive this morning with BHP Group (BHP) down over 6% in the US.
- Cutting our Lend Lease (LLC) holding and increasing our exposure to the resources & / or banks into ongoing weakness – we didn’t like the LLC result and feel its going to be capped moving forward.
