For those seeking higher growth investments
4.78%
Inception-to-date Performance
The newest Market Matters Portfolio that searches for small & mid capitalisation emerging stocks (ex-100) that show strong underlying growth characteristics. This is a higher risk portfolio and investors should expect greater volatility in returns.
| Portfolio | 1M | 6M | 1y | 3y pa | 5y pa | ITD PA | Total |
|---|---|---|---|---|---|---|---|
| EMERGING COMPANIES | 1.49% | -5.75% | -6.87% | 5.04% | -0.54% | 4.78% | 36.00% |
| SMALL ORDS ACCUMULATION | 5.18% | -6.31% | -1.22% | 9.77% | 2.22% | 5.11% | 38.80% |
| VALUE ADD | (3.69%) | +0.56% | (5.65%) | (4.73%) | (2.76%) | (0.33%) | (2.80%) |
* Inception date 31/01/2020
| CODE | NAME | WEIGHT (%) | RISK | TERM | BUY DATE | BUY PRICE ($) | LAST PRICE ($) | DIVIDENDS ($) | DAILY CHANGE (%) | GAIN / LOSS (%) |
|---|---|---|---|---|---|---|---|---|---|---|
| A1MACTIVE | AIC Mines | 6 | High | Medium | 26/07/2024 | 0.35 | 0.685 | -4.86 | 95.71 | |
| ABBACTIVE | Aussie Broadband | 6 | Moderate | Medium | 25/11/2021 | 4.82 | 4.30 | 0.20 | -0.23 | -6.64 |
| ARBACTIVE | ARB Corp | 5 | Moderate | Medium | 19/02/2025 | 31.12 | 16.67 | 2.19 | 0.06 | -39.40 |
| BGLACTIVE | Bellevue Gold | 4 | High | Medium | 31/10/2024 | 1.18 | 1.40 | -2.45 | 18.22 | |
| C79ACTIVE | Chrysos Corp | 4 | High | 22/04/2026 | 7.74 | 7.12 | -2.47 | -8.01 | ||
| CATACTIVE | Catapult Group | 4 | High | Medium | 22/08/2023 | 2.02 | 3.38 | 1.50 | 67.33 | |
| CNIACTIVE | Centuria Capital | 4 | Moderate | Long | 9/11/2022 | 1.60 | 1.16 | 0.30 | 0.00 | -9.06 |
| HMCACTIVE | HMC Capital | 4 | Moderate | Long | 11/02/2025 | 5.55 | 3.00 | 0.13 | 2.04 | -43.60 |
| HSNACTIVE | Hanson Technologies | 4 | High | Medium | 10/12/2024 | 5.41 | 3.54 | 0.12 | 0.00 | -32.35 |
| LNWACTIVE | Light & Wonder | 4 | High | Medium | 26/11/2025 | 142.71 | 126.23 | 0.88 | -11.55 | |
| NCKACTIVE | Nick Scali | 5 | Moderate | Medium | 26/07/2024 | 15.00 | 12.64 | 1.45 | 1.94 | -6.07 |
| NXGACTIVE | NexGen Energy | 4 | High | Long | 26/11/2025 | 12.72 | 12.23 | -2.55 | -3.85 | |
| MAFACTIVE | MA Financial | 4 | Moderate | Medium | 08/07/2026 | 6.56 | 4.74 | 0.85 | -27.74 | |
| PNIACTIVE | Pinnacle Investment Group | 4 | Moderate | Long | 12/03/2025 | 16.47 | 15.47 | 0.76 | 3.76 | -1.46 |
| PXAACTIVE | PEXA Group | 4 | Moderate | Long | 02/08/2023 | 12.45 | 7.03 | 2.78 | -43.53 | |
| RDYACTIVE | ReadyTech | 4 | High | Long | 22/03/2023 | 3.02 | 1.36 | 1.12 | -54.97 | |
| RPLACTIVE | Regal Partners | 4 | Moderate | Medium | 9/11/2022 | 2.89 | 2.13 | 0.59 | 1.43 | -5.88 |
| SDRACTIVE | Siteminder | 6 | High | Medium | 11/02/2025 | 5.80 | 3.40 | 0.00 | -41.38 | |
| SLXACTIVE | Silex Systems | 3 | High | Medium | 22/03/2023 | 3.80 | 3.33 | -4.31 | -12.37 | |
| ZIPACTIVE | Zip Co | 5 | High | Medium | 21/05/2025 | 1.87 | 1.79 | -3.76 | -4.28 | |
| 360ACTIVE | Life360 | 4 | High | Long | 26/11/2025 | 40.16 | 21.04 | 1.01 | -47.61 |
Portfolio cash position: 8%
| Company code | STOCK NAME | ACTIVITY | RISK | TIME HORIZON | EXIT DATE | ENTRY PRICE ($) | CLOSE PRICE ($) | DIVIDENDS ($) | GAIN / LOSS (%) |
|---|---|---|---|---|---|---|---|---|---|
| LTR | Liontown Resources | Sold 3% position | High | Medium | 17/09/2026 | 1.19 | 1.01 | -15.10 | |
| LTR | Liontown Resources | Sold 4% position | High | Medium | 21/01/2026 | 1.44 | 2.15 | 49.30 | |
| NEC | Nine Entertainment | Sold 4% position | Moderate | Medium | 21/01/2026 | 2.03 | 1.12 | 1.05 | 6.90 |
| RUL | RPMGlobal Holdings | Sold 6% position | High | Medium | 27/11/2025 | 3.05 | 4.91 | 61.00 | |
| PDN | Paladin Energy | Sold 4% position | High | Long | 27/11/2025 | 9.62 | 7.96 | -17.25 | |
| JLG | Johns Lyng Group | Sold 4% position | High | Medium | 24/10/2025 | 5.51 | 4.00 | 0.04 | -26.68 |
| SRG | SRG Global | Sold 4% position | Moderate | Medium | 18/06/2025 | 0.81 | 1.55 | 0.12 | 86.00 |
| CRN | Coronado Resources | Sold 3% position | High | Medium | 18/06/2025 | 1.37 | 0.145 | 0.09 | -82.00 |
| VAU | Vault Minerals | Sold 4% position | Moderate | Medium | 31/03/2025 | 0.32 | 0.45 | 40.63 | |
| VAU | Vault Minerals | Trimmed 2% | Moderate | Medium | 19/02/2025 | 0.32 | 0.40 | 25.00 | |
| BAP | Bapcor | Sold 5% position | Moderate | Medium | 19/02/2025 | 6.27 | 4.67 | 0.51 | -17.38 |
| BWP | BWP Trust | Sold 4% position | Low | Medium | 11/02/2025 | 3.75 | 3.42 | 0.18 | -4.00 |
| HLO | Helloworld Travel | Sold 4% position | Moderate | Medium | 11/02/2025 | 2.19 | 2.03 | 0.07 | -4.10 |
| CXL | Calix | Sold 4% position | High | Long | 11/02/2025 | 4.22 | 0.51 | -87.90 | |
| ZIP | Zip Co | Sold 3% position | High | Medium | 10/12/2024 | 1.77 | 2.88 | 62.71 | |
| ANG | Austin Engineering | Sold 3% position | High | Medium | 10/12/2024 | 0.47 | 0.52 | 9.61 | |
| AD8 | Audinate | Sold 6% position | Moderate | Medium | 10/12/2024 | 12.92 | 7.83 | -39.39 | |
| C79 | Chrysos Corp | Sold 6% position | High | Medium | 10/10/2024 | 6.41 | 5.39 | -15.91 | |
| SRG | SRG Global | Trimmed 1% | Moderate | Medium | 26/07/2024 | 0.69 | 0.925 | 34.05 | |
| SFR | Sandfire Resources | Sold 5% position | Moderate | Low | 26/07/2024 | 6.26 | 8.32 | 32.91 | |
| ANG | Austin Engineering | Trimmed 1% | High | Medium | 26/07/2024 | 0.47 | 0.64 | 36.20 | |
| PXA | PEXA Group | Trimmed 1% | Moderate | Long | 26/07/2024 | 12.45 | 13.77 | 10.60 | |
| EML | EML Payments | Sold 4% position | High | Medium | 26/07/2024 | 3.36 | 0.905 | -73.06 | |
| BCB | Bowen Coking Coal | Sold 4% position | High | Medium | 26/07/2024 | 0.295 | 0.044 | -85.08 | |
| SLX | Silex Systems | Trimmed 1% | High | Medium | 22/05/2024 | 3.80 | 6.53 | 71.84 | |
| SFR | Sandfire Resources | Trimmed 1% | Moderate | Long | 22/05/2024 | 6.26 | 9.94 | 58.79 | |
| SRG | SRG Global | Trimmed 1% | Moderate | Medium | 22/05/2024 | 0.69 | 0.90 | 0.06 | 39.13 |
| CNI | Centuria Capital | Trimmed 2% | Moderate | Long | 22/05/2024 | 1.60 | 1.77 | 0.14 | 19.38 |
| FCL | Fineos | Sold 4% position | High | Medium | 22/05/2024 | 2.51 | 1.65 | -34.26 | |
| GL1 | Global Lithium | Sold 4% position | High | Long | 22/05/2024 | 2.55 | 0.37 | -85.49 | |
| ABB | Aussie Broadband | Trimmed 2% | Moderate | Medium | 27/02/2024 | 4.82 | 4.61 | -4.36 | |
| PDN | Paladin | Sold 4% position | High | Long | 15/01/2024 | 0.75 | 1.31 | 74.67 | |
| PDN | Paladin | Trimmed 2% | High | Long | 11/01/2024 | 0.75 | 1.17 | 56.00 | |
| PMV | Premier Investments | Sold 4% position | Moderate | Medium | 11/01/2024 | 24.78 | 26.89 | 2.99 | 20.58 |
| PPS | Praemium | Sold 4% position | Moderate | Long | 11/01/2024 | 0.765 | 0.39 | 0.07 | -39.87 |
| AD8 | Audinate | Trimmed 1.5% | Moderate | Medium | 20/11/2023 | 8.94 | 15.04 | 68.23 | |
| LYC | Lynas Rare Earths Ltd | Sold 4% position | High | Medium | 20/11/2023 | 8.60 | 6.77 | -21.28 | |
| AD8 | Audinate | Trimmed 2% | Moderate | Medium | 22/08/2023 | 8.43 | 12.06 | 43.06 | |
| BAP | Bapcor | Trimmed 1% | Moderate | Medium | 22/08/2023 | 6.78 | 6.56 | 0.46 | 3.54 |
| CAJ | Capitol Health | Sold 5% position | Moderate | Medium | 22/08/2023 | 0.40 | 0.23 | 0.04 | -32.50 |
| SBM | St Barbara | Sold 4% position | Moderate | Medium | 05/07/2023 | 0.935 | 0.545 | -41.71 | |
| SFR | Sandfire Resources | Sold 4% position | High | Medium | 20/04/2023 | 3.93 | 6.95 | 76.84 | |
| NXT | NEXTDC | Sold 4% position | High | Short | 13/04/2023 | 8.67 | 12.13 | 39.91 | |
| SHV | Select Harvests | Sold 4% position | Moderate | Medium | 22/03/2023 | 6.39 | 4.08 | -36.15 | |
| PNI | Pinnacle Investment Management | Sold 6% position | Moderate | Medium | 01/02/2023 | 9.58 | 9.90 | 0.25 | 5.95 |
| SFR | Sandfire Resources | Trimmed 2% | High | Medium | 8/12/2022 | 3.87 | 5.38 | 39.00 | |
| ASB | Austal Ltd | Sold 4% position | Moderate | Medium | 8/12/2022 | 3.30 | 2.14 | 0.30 | -26.06 |
| STA | Strandline Resources | Sold 3% position | High | Medium | 9/11/2022 | 0.25 | 0.41 | 64.00 | |
| PLS | Pilbara Minerals | Sold 4% position | High | Medium | 9/11/2022 | 2.69 | 5.53 | 105.58 | |
| LOV | Lovisa Holdings | Sold 4% position | Moderate | Medium | 9/11/2022 | 15.48 | 24.01 | 0.41 | 57.75 |
SDR +18.12%: rallied nicely today (from a low base) following today’s AGM, with the market responding positively to clearer guidance around the company’s medium-term growth ambitions. The key change was management sharpening its language around ARR growth, helping address concerns that momentum was fading after a disappointing FY26 result.
ZIP has made headlines over the past week, plunging around 50% on Friday before rebounding more than 60% by Monday’s close. After such a dramatic reversal, the obvious question is whether the stock still offers value at current levels if we look through the short-term news.
Zip –29.47%: Got hit today, down ~50% in early trade after flagging A$10.1m in expenses linked to an external fraud incident in the US, adding to concerns and credit risk.
NCK –15.34%: delivered a disappointing trading update showing signs of weakness across Australia and New Zealand, flagging a material downgrade to first-half earnings expectations.
MAF +3%: Rallied around 9% early, with the market initially responding positively to a broader trading update showing continued growth in the business. That said, the update also reinforced why the stock has been under so much pressure, with MA suspending redemptions across its property-related lending funds and winding up its MA Secured Real Estate Income Fund as conditions in property and private credit remain difficult.
The ASX has been rife with takover interest in recent weeks, and we think ABB is an another increasingly attractive takeover candidate, with its growing scale, recurring revenues and improving earnings profile making it a logical target for both private equity and larger telecommunications players.
Last week we saw a few more ASX 200 names follow our roadmap by making fresh 2026 lows before recovering strongly. These stocks, like ARB, are ones we see investors chasing higher into Christmas as they search for value.
This brings us to Pinnacle Investment Management (PNI), which owns around 35% of Metrics. Metrics has been one of Pinnacle’s highest-profile affiliates, so the current situation is clearly a blemish, but the direct financial impact appears relatively manageable: Metrics represents around 13% of Pinnacle’s effective FUM and roughly 10% of recurring profits, meaning even a meaningful slowdown in Metrics flows should not derail the broader group.
Nick Scali (NCK) has had a difficult run since its FY26 result, with the stock now back around $14 as investors remain cautious on the Australian consumer and housing cycle.We own NCK in the Emerging Companies Portfolio and, while the domestic environment remains soft, we think the market is becoming increasingly focused on the wrong part of the story.
PNI was caught in the fallout from recent issues at Metrics, where the valuations of several funds were revised lower on Monday after a review of asset values and expected credit losses. The resulting NTA cuts were 2–12% across three listed Metrics vehicles, prompting a sharp sell-off in PNI, given their ~35% ownership of the credit manager, before a UBS upgrade sparked a strong bounce in the stock yesterday.
MM remains long & bullish SDR
MM is long and bullish towards ZIP around $1.60
MM remains long but cautious toward ZIP
MM is long but cautious toward NCK
MM remains positive on MAF
MM remains long & bullish ABB
MM is bullish towards ARB targeting ~25% upside.
MM is long and bullish towards PNI around $14
MM remains bullish NCK ~$14
MM remains long and bullish PNI
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