The Market Matters Flagship Growth Portfolio provides an active approach to investing in ASX listed large cap stocks – Click here to view
The MM Flagship Growth Portfolio edged up +0.2% last week tracking the overall market, we continue to hold an elevated 14% cash position making us flexible and by definition in “buy mode”. The portfolio’s top performer last week was IGO Ltd (IGO) +8.9% followed by Woodside Energy (WDS) +6.5% unfortunately these advances were largely offset by TPG Telecom (TPG) -6.7% and HUB24 (HUB) -4.4%.
Although the index has fallen from its mid-August high we remain comfortable holding a decent cash position affording us flexibility so start buying selected targets into the current pullback. The stocks on our Hitlist have remained reasonably consistent as have the levels where we intend to start buying each, the top 5 today are:
- Seek (SEK), REA Group (REA), Super Retail Group (SUL), National Australia Bank (NAB) and GPT Group (GPT).
As we’ve discussed earlier we are looking for 1-2 months of choppy price action with a downside bias hence if things unfold according to plan it’s likely we will slowly accumulate positions into individual stock weakness as opposed to a couple of savage down days for the overall index although we haven’t ruled this scenario out. On the sector front, we may also take a little cream off the top of our resources holdings and migrate into the likes of tech, retail and real estate assuming recent strong performance is ongoing but obviously, we will address that if / when the opportunity arises, for now, short-term it’s all about getting our money back to work in companies we like at good levels
