We are selling our 3% holding in Pilbara Minerals (PLS) after a solid run. While we like Lithium over the longer term, however we expect volatility to throw up multiple opportunities in the sector.
We are buying Lendlease (LLC) as a deeper value turnaround stock. While their track record is poor, there are signs that the underlying business is improving. We may be early on this trade, however moving a small portion of the portfolio into ‘recovery’ stocks we believe makes sense.