For those seeking higher growth investments
3.35%
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 | -1.93% | -6.29% | -19% | 4.52% | -3.51% | 3.35% | 24.9% |
| SMALL ORDS ACCUMULATION | -6.43% | -6.94% | -13.85% | 10.10% | 0.64% | 3.59% | 26.9% |
| VALUE ADD | +4.5% | +0.65% | (5.15%) | (5.58%) | (4.15%) | (0.24%) | (2.0%) |
* 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 | 0.69 | -2.82 | 97.14 | |
| ABBACTIVE | Aussie Broadband | 6 | Moderate | Medium | 25/11/2021 | 4.82 | 4.50 | 0.20 | -0.44 | -2.49 |
| ARBACTIVE | ARB Corp | 5 | Moderate | Medium | 19/02/2025 | 31.12 | 18.24 | 2.19 | -1.35 | -34.35 |
| BGLACTIVE | Bellevue Gold | 4 | High | Medium | 31/10/2024 | 1.18 | 1.40 | -1.76 | 18.22 | |
| C79ACTIVE | Chrysos Corp | 4 | High | 22/04/2026 | 7.74 | 6.51 | -2.11 | -15.89 | ||
| CATACTIVE | Catapult Group | 4 | High | Medium | 22/08/2023 | 2.02 | 3.65 | -2.93 | 80.69 | |
| CNIACTIVE | Centuria Capital | 4 | Moderate | Long | 9/11/2022 | 1.60 | 1.16 | 0.30 | -1.69 | -8.75 |
| HMCACTIVE | HMC Capital | 4 | Moderate | Long | 11/02/2025 | 5.55 | 3.40 | 0.13 | -2.02 | -36.40 |
| HSNACTIVE | Hanson Technologies | 4 | High | Medium | 10/12/2024 | 5.41 | 3.65 | 0.12 | -0.82 | -30.31 |
| LNWACTIVE | Light & Wonder | 4 | High | Medium | 26/11/2025 | 142.71 | 120.37 | -1.53 | -15.65 | |
| NCKACTIVE | Nick Scali | 5 | Moderate | Medium | 26/07/2024 | 15.00 | 13.70 | 1.45 | -1.30 | 1.00 |
| NXGACTIVE | NexGen Energy | 4 | High | Long | 26/11/2025 | 12.72 | 11.53 | -2.70 | -9.36 | |
| MAFACTIVE | MA Financial | 4 | Moderate | Medium | 08/07/2026 | 6.56 | 4.81 | -2.04 | -26.68 | |
| PNIACTIVE | Pinnacle Investment Group | 4 | Moderate | Long | 12/03/2025 | 16.47 | 15.60 | 0.76 | -1.45 | -0.67 |
| PXAACTIVE | PEXA Group | 4 | Moderate | Long | 02/08/2023 | 12.45 | 7.05 | -0.42 | -43.37 | |
| RDYACTIVE | ReadyTech | 4 | High | Long | 22/03/2023 | 3.02 | 1.38 | 1.85 | -54.47 | |
| RPLACTIVE | Regal Partners | 4 | Moderate | Medium | 9/11/2022 | 2.89 | 1.98 | 0.59 | -10.41 | -11.07 |
| SDRACTIVE | Siteminder | 6 | High | Medium | 11/02/2025 | 5.80 | 3.54 | -1.94 | -38.97 | |
| SKGACTIVE | Storage King Group | 4 | Moderate | Long | 04/11/2026 | 1.12 | 1.14 | 0.44 | 1.34 | |
| ZIPACTIVE | Zip Co | 5 | High | Medium | 21/05/2025 | 1.87 | 2.04 | -1.45 | 9.09 | |
| 360ACTIVE | Life360 | 4 | High | Long | 26/11/2025 | 40.16 | 21.26 | -0.09 | -47.06 |
Portfolio cash position: 7%
| Company code | STOCK NAME | ACTIVITY | RISK | TIME HORIZON | EXIT DATE | ENTRY PRICE ($) | CLOSE PRICE ($) | DIVIDENDS ($) | GAIN / LOSS (%) |
|---|---|---|---|---|---|---|---|---|---|
| SLX | Silex Systems | Sold 3% position | High | Medium | 04/11/2026 | 3.80 | 3.13 | -17.63 | |
| 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 |
The performance of RPL has been very different to GQG as the FUM has nearly doubled over the last 3 years, a very different story despite mixed performance - RPL is still far smaller than GQG with a market cap of $940mn. We last discussed RPL in detail here, after the stock was whacked in March as its large investment in biotech Opthea went south.
PXA -3.38%: cut its FY27 revenue and earnings margin guidance as falling property transaction volumes continue to weigh on its Australian business. The downgrade reflects a tougher housing market, with higher interest rates and declining property prices reducing buyer confidence and settlement activity.
Life360 (360) fell more ~15% yesterday following its 3Q27 result, despite delivering strong headline growth. Revenue rose 40% YoY to US$174.1m, adjusted EBITDA increased 41% to US$34.6m, and EPS of US$0.26 - all comfortably ahead of consensus.
Just like NXG overshot on the upside in January, pricing in uranium prices well above US$120/lb, we believe it's now become too negative, and a grind above US$100/lb for uranium, let alone new highs, is likely to send NXG significantly higher. We’ve preferred NXG as an early-stage uranium investment because its flagship Arrow deposit is huge, offers exceptional grades, and all its major approvals are now in place. Funding is the next challenge, however it seems like BHP might be in the mix to help with that.
In line with our view that the next move by the RBA is down the likes of NCK should enjoy at least a healthy bounce after more than halving from its 2026 high.
LNW –3.17%: Reported a softer-than-expected 3Q result, with revenue missing consensus across its Gaming and SciPlay divisions. The share price was weaker early but showed resilience, suggesting investors were relatively comfortable with the reaffirmed outlook.
We are making two changes to the Emerging Companies Portfolio today.
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.
MM is long bullish towards RPL below $2.30 (for now)
MM is long and cautiously bullish toward PXA
MM remains patiently long 360 (for now)
MM is bullish towards NXG around $12
Trade Idea: Buy Nick Scali (NCK) using a limit of $14.50, with stops at $13.00 around 10% risk.
MM remains long and bullish LNW
MM is selling SLX in the Emerging Companies Portfolio, taking a loss around $3.30
MM remains long & bullish SDR
MM is long and bullish towards ZIP around $1.60
MM remains long but cautious toward ZIP
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