Emerging Companies Portfolio

For those seeking higher growth investments

About The Portfolio

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 Performance** UPDATED 31/12/2025 17:00
Portfolio	1M	3M	6M	1y	3y pa	5y pa	ITD PA*
EMERGING COMPANIES	-0.20%	1.19%	20.70%	21.91%	13.50%	4.06%	8.57%
SMALL ORDS ACCUMULATION	1.42%	1.80%	17.39%	24.96%	13.44%	6.85%	6.85%
VALUE ADD	(1.62%)	(0.61%)	+3.31%	(3.05%)	+0.06%	(2.79%)	+1.72%

* Inception date 31/01/2020

**Portfolio Holdings** 20 MINUTES DELAYED trade now
CODE	NAME	WEIGHT (%)	RISK	TERM	BUY DATE	BUY PRICE ($)	LAST PRICE ($)	DIVIDENDS ($)	DAILY CHANGE (%)	GAIN / LOSS (%)
A1M	AIC Mines	4	High	Medium	26/07/2024	0.35	0.61		0.00	74.29
ABB	Aussie Broadband	6	Moderate	Medium	25/11/2021	4.82	4.69	0.15	-2.29	0.41
ARB	ARB Corp	5	Moderate	Medium	19/02/2025	39.49	26.51	0.71	-3.32	-31.07
BGL	Bellevue Gold	4	High	Medium	31/10/2024	1.18	1.85		2.22	56.78
CAT	Catapult Group	4	High	Medium	22/08/2023	1.43	3.86		6.34	169.93
CNI	Centuria Capital	4	Moderate	Long	9/11/2022	1.60	1.99	0.30	2.31	43.13
HMC	HMC Capital	4	Moderate	Long	11/02/2025	5.55	4.32	0.08	3.85	-20.72
HSN	Hanson Technologies	4	High	Medium	10/12/2024	5.41	5.28	0.12	1.93	-0.18
LNW	Light & Wonder	4	High	Medium	26/11/2025	142.71	163.00		-3.25	14.22
NCK	Nick Scali	4	Moderate	Medium	26/07/2024	14.90	25.60	0.90	-0.08	77.85
NXG	NexGen Energy	4	High	Long	26/11/2025	12.72	18.30		0.00	43.87
PNI	Pinnacle Investment Group	4	Moderate	Long	12/03/2025	17.85	17.47	0.37	-2.35	-0.06
PXA	PEXA Group	4	Moderate	Long	02/08/2023	12.45	14.13		0.14	13.49
RDY	ReadyTech	4	High	Long	22/03/2023	3.02	2.57		-0.77	-14.90
RPL	Regal Partners	4	Moderate	Medium	9/11/2022	2.89	3.39	0.42	-0.59	31.83
SDR	Siteminder	6	High	Medium	11/02/2025	5.80	5.50		0.36	-5.17
SLX	Silex Systems	3	High	Medium	22/03/2023	3.80	7.15		5.30	88.16
ZIP	Zip Co	4	High	Medium	21/05/2025	1.99	3.04		5.19	52.76
360	Life360	4	High	Long	26/11/2025	40.16	33.79		27.37	-15.86

Portfolio cash position: 20%

**Recent Sales** UPDATED 21/01/2026 17:00 trade now
Company code	STOCK NAME	ACTIVITY	RISK	TIME HORIZON	EXIT DATE	ENTRY PRICE ($)	CLOSE PRICE ($)	DIVIDENDS ($)	GAIN / LOSS (%)
LTR	Liontown Resources	Sold 4% position	High	Medium	21/01/2026	1.44	2.15		49.3
NEC	Nine Entertainment	Sold 4% position	Moderate	Medium	21/01/2026	2.03	1.12	1.05	6.9
RUL	RPMGlobal Holdings	Sold 6% position	High	Medium	27/11/2025	3.05	4.91		61
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	0.04	-26.68
SRG	SRG Global	Sold 4% position	Moderate	Medium	18/06/2025	0.81	1.55	0.12	86
CRN	Coronado Resources	Sold 3% position	High	Medium	18/06/2025	1.37	0.145	0.09	-82
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	0.4		25
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
HLO	Helloworld Travel	Sold 4% position	Moderate	Medium	11/02/2025	2.19	2.03	0.07	-4.1
CXL	Calix	Sold 4% position	High	Long	11/02/2025	4.22	0.51		-87.9
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		36.2
PXA	PEXA Group	Trimmed 1%	Moderate	Long	26/07/2024	12.45	13.77		10.6
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	3.8	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	0.9	0.06	39.13
CNI	Centuria Capital	Trimmed 2%	Moderate	Long	22/05/2024	1.6	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
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	8.6	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	0.4	0.23	0.04	-32.5
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	9.9	0.25	5.95
SFR	Sandfire Resources	Trimmed 2%	High	Medium	8/12/2022	3.87	5.38		39
ASB	Austal Ltd	Sold 4% position	Moderate	Medium	8/12/2022	3.3	2.14	0.3	-26.06
STA	Strandline Resources	Sold 3% position	High	Medium	9/11/2022	0.25	0.41		64
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

OPINION
ACTION

Opinions for stocks held in the Emerging Companies Portfolio

23/01/2026 16:38

Life360 (360) $33.79

360 +27.37%: The family and pet tracking technology stock surged higher today after the company delivered an impressive preliminary 4Q update, jumping in US after-hours trade and following strongly on the ASX. The catalyst was a sharp re-acceleration in user and subscriber growth, directly addressing the market’s biggest concern from the September quarter.

22/01/2026 09:41

NexGen Energy Ltd (NXG) $17.78

As we touched on recently, NXG is still in exploration and development stage, affording investors with greater leverage to growing global uranium demand, an energy thematic we remain bullish towards.

21/01/2026 09:40

Portfolio Amendments – Emerging Companies Portfolio

We are reducing exposure in the Emerging Companies Portfolio

21/01/2026 09:21

ARB Corp (ARB) $28.42

A tough one for ARB Corporation yesterday, flagging a material decline in earnings for 1H26 as confession season warms up (the period ahead of reporting when companies flag they’re unlikely to meet earnings expectations). In ARB’s case, tough domestic conditions couldn’t be fully offset by strength in its smaller export business.

20/01/2026 09:40

Silex Systems Ltd (SLX) $7.12

SLX is developing a world-first laser enrichment process for separating uranium isotopes for nuclear fuel and also silicon isotopes used in quantum computing, an independent review discussed here delivered positive news in late 2025 more than doubling the company’s share price. This $2bn company remains very speculative, but it’s technology could be a game changer, and Cameco might just take them out!

20/01/2026 09:35

NexGen Energy Limited (NXG) $17.46

It was out with one, Boss Energy (BOE) and in with another, NexGen (NXG) for the uranium sector in December. NXG is still in exploration and development stage, affording investors with greater leverage to growing global uranium demand, an energy thematic MM remains bullish towards.

20/01/2026 09:34

Aussie Broadband Ltd (ABB) $4.72

ABB delivered a solid trading update in October, but as so often happens with stocks that have run hard, it wasn’t enough, and the stock has drifted lower since. Changes in regulated rates for voice-interconnection services in late December have also led to small downgrades, primarily around cash flow. However, the stock is now trading slightly on the cheap side of the ledger and remain medium term bulls on their prospects.

22/12/2025 16:42

Nick Scali (NCK) $23.25

NCK +9.9%: The furniture and homewares retailer upgraded its first-half earnings outlook, lifting 1H net profit guidance to $37–39mn from $33–35mn, reflecting stronger-than-expected trading across Australia and New Zealand. The company now expects 1H ANZ revenue growth of 10–12% YoY, comfortably ahead of its prior 7–9% target — a signal that order momentum remains robust despite a softer retail backdrop.

17/12/2025 09:43

Hansen Technologies (HSN) $5.27

We continue to own Hansen Technologies (HSN) in the Emerging Companies Portfolio, and in line with recent selling in tech, the share price has been under pressure since peaking at $6.49 in September, now down nearly 20%. As a refresher, HSN develops and licenses billing & customer management software for utilities (energy, water) and telcos.

15/12/2025 09:32

Shawn’s Trade Idea: Buy Catapult Sports Ltd (CAT) limit $4.04

We have reiterated this “Trade Idea” this morning as still very much open after some subscribers questioned its accuracy when CAT traded above $4.70 last week.