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Emerging Companies Portfolio

For those seeking higher growth investments

About the Emerging Companies Portfolio

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
Portfolio 1M 3M 1y 3y pa 5y pa ITD PA*
EMERGING COMPANIES -0.22% -15.61% -14.13% -3.81% 3.33% 2.13%
SMALL ORDS ACCUMULATION 1.84% -4.580% 3.73% 0.29% 7.73% 3.24%
VALUE ADD (2.06%) (11.03%) (17.86%) (4.10%) (4.40%) (1.11%)
* Inception date 31/01/2020
Portfolio Holdings trade now
CODE NAME WEIGHT (%) RISK TERM BUY DATE BUY PRICE ($) LAST PRICE ($) DIVIDENDS ($) DAILY CHANGE (%) GAIN / LOSS (%)
A1M AIC Mines 4 High Medium 26/07/2024 0.35 0.35 0.00 0.00
ABB Aussie Broadband 6 Moderate Medium 25/11/2021 4.82 4.18 0.12 0.00 -10.79
ARB ARB Corp 5 Moderate Medium 19/02/2025 39.49 30.97 -0.99 -21.58
CAT Catapult Group 4 High Medium 22/08/2023 1.43 4.23 1.93 195.80
CNI Centuria Capital 4 Moderate Long 9/11/2022 1.60 1.75 0.25 0.86 25.00
CRN Coronado Global Resources 3 High Medium 26/07/2024 1.37 0.17 0.09 -2.94 -81.02
HMC HMC Capital 5 Moderate Long 11/02/2025 9.68 5.21 0.08 -0.38 -45.35
HSN Hanson Technologies 4 High Medium 10/12/2024 5.41 5.01 0.06 0.20 -6.28
JLG Johns Lyng Group 4 High Medium 26/07/2024 5.51 2.29 .04 -0.43 -57.71
LTR Liontown Resources 4 High Medium 22/05/2024 1.44 0.64 17.59 -55.56
NCK Nick Scali 4 Moderate Medium 26/07/2024 14.90 18.60 0.43 1.25 27.72
NEC Nine Entertainment 4 Moderate Medium 9/11/2022 2.03 1.58 0.30 6.04 -7.39
PDN Paladin Energy 4 High Medium 27/02/2024 11.80 6.37 -2.45 -46.02
PNI Pinnacle Investment Group 4 Moderate Long 12/03/2025 17.85 19.50 2.52 9.24
PXA PEXA Group 4 Moderate Long 02/08/2023 12.45 11.81 -0.25 -5.14
RUL RPMGlobal Holdings 4 High Medium 10/12/2024 3.13 2.89 0.35 -7.67
RDY ReadyTech 4 High Long 22/03/2023 3.02 2.13 0.95 -29.47
RPL Regal Partners 4 Moderate Medium 9/11/2022 2.89 2.43 0.34 15.17 -4.15
SDR Siteminder 4 High Medium 11/02/2025 6.51 3.95 2.07 -39.32
SLX Silex Systems 3 High Medium 22/03/2023 3.80 2.95 -5.75 -22.37
SRG SRG Global 4 Moderate Medium 22/03/2023 0.81 1.40 0.12 2.19 87.65
Portfolio cash position: 14%
Recent Sales trade now
Company code STOCK NAME ACTIVITY RISK TIME HORIZON EXIT DATE ENTRY PRICE ($) CLOSE PRICE ($) DIVIDENDS ($) GAIN / LOSS (%)
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
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Opinions for stocks held in the Emerging Companies Portfolio

SiteMinder (SDR) $3.78

Travel stocks are feeling the pinch.  We’ve recently seen downgraded guidance from Flight Centre (FLT) and Corporate Travel (CTD) locally, while it’s been more of a mixed picture overseas with Booking.com and Airbnb highlighting stable leisure demand trends overall, but they called out some weakness in the US, particularly from travellers coming from Canada and Europe – an understandable trend given anti-America sentiment stemming from the absurd tariff situation being worked through.

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HMC Capital (HMC) $4.87

HMC –5.8%: was weaker today after CEO David Di Pilla provided a trading update at the Macquarie Conference and downgraded FY25 earnings. The asset manager now forecasts Earnings Per Share (EPS) of 66c, below the 70c projected a month ago in the half-yearly update.

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HMC Capital Ltd (HMC) $5.26

We discussed HMC in detail this time last month, just before Liberation Day! Our thesis hasn’t changed, and we believe the stock is oversold/cheap as the “AI Trade” comes back into vogue courtesy of its major position in DigiCo (DGT) – the weak and speculative longs have certainly been washed out of both DGT and HMC.

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Paladin Energy Ltd (PDN) $5.85

Market heavyweight PDN has been kinder to the shorts, declining over 20% so far in 2025 as the company has consistently disappointed operationally, including withdrawing guidance last month following heavy rain in Namibia.

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AIC Mines (A1M) 35c

A1M reported March quarter production results yesterday, with Eloise production at the bottom end of the target range for the period. However, total production over the first nine months leaves just 2,839t Cu to be produced in the Junq for A1M to meet the FY25 production target of 12,500t Cu at an All In Sustaining Cost (AISC) of A$5.25/lb, which means the full-year target is likely to be exceeded.

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Paladin Energy (PDN) $4.96

PDN +24.62%: Released a strong quarterly today highlighting the uranium producer is back on track with production, achieving its highest run-rate of production to date.

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HMC Capital (HMC) $6.01

The bearish thesis on HMC had been around valuation relative to their funds under management. As a broad rule of thumb,  a funds management business will typically trade on 5-10% of their Assets Under Management (AUM), adjusted up or down for expected inflows/outflows.

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Paladin Energy (PDN) $5.65

PDN –11.58%: Released more detail around the extreme weather event impacting operations at their Langer-Heinrich uranium facility. The rains are now being called a 1-in-50 year event and as a result production guidance for FY25 has been withdrawn. 

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Regal Partners (RPL) $2.54

As at the end of December, Regal was managing $A18bn spread across long/short equities ($7.6bn), Credit & Royalties ($6.6bn), Real & Natural Assets ($2.2bn), Multi-Strategy ($1.2bn) and Private Markets ($474m).

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Actions for stocks held in the Emerging Companies Portfolio

CNI
UPDATED 09/05/2025 09:40
MM is long and bullish CNI
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PDN
UPDATED 08/05/2025 09:44
MM is long and bullish PDN
Add To Hit List
SDR
UPDATED 07/05/2025 09:47
MM remains long & bullish SDR
Add To Hit List
HMC
UPDATED 06/05/2025 17:00
MM is long and bullish HMC
Add To Hit List
HMC
UPDATED 02/05/2025 09:40
MM remains long and bullish HMC
Add To Hit List
PDN
UPDATED 01/05/2025 09:38
MM is long and bullish PDN
Add To Hit List
A1M
UPDATED 30/04/2025 10:12
MM remains long & bullish A1M
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PDN
UPDATED 23/04/2025 17:28
MM remains long and bullish PDN
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HMC
UPDATED 02/04/2025 10:12
MM remains bullish on HMC despite the SP slide
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PDN
UPDATED 26/03/2025 16:57
MM is long and cautiously bullish PDN
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