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 31/03/2024 17:00
Portfolio	1M	3M	6M	1Y	3Y pa	ITD PA*
EMERGING COMPANIES	4.25%	7.09%	10.46%	14.99%	0.24%	7.00%
SMALL ORDS ACCUMULATION	4.79%	7.55%	16.71%	13.83%	2.72%	3.96%
VALUE ADD	(0.54%)	(0.46%)	(6.25%)	+1.16%	(2.48%)	+3.04%

* Inception date 31/01/2020

**Portfolio Holdings** 20 MINUTES DELAYED trade now
COMPANY CODE	STOCK NAME	WEIGHT (%)	RISK	TIME HORIZON	ENTRY DATE	ENTRY PRICE ($)	LAST PRICE ($)	DIVIDENDS ($)	DAILY CHANGE (%)	GAIN / LOSS (%)
ABB	Aussie Broadband	6	Moderate	Medium	25/11/2021	4.82	3.61		0.28	-25.10
AD8	Audinate	3	Moderate	Medium	04/11/2021	8.94	18.60		1.58	108.05
ANG	Austin Engineering	4	High	Medium	05/04/2024	0.47	0.49		1.04	4.26
BAP	Bapcor	5	Moderate	Medium	8/12/2021	6.27	5.65	0.51	-1.40	-1.75
BCB	Bowen Coking Coal	4	High	Medium	9/11/2022	0.295	0.05		6.38	-83.05
C79	Chrysos	4	High	Medium	07/03/2024	6.69	5.23		-8.89	-21.82
CAT	Catapult Group	3	High	Medium	22/08/2023	1.09	1.49		1.36	36.70
CNI	Centuria Capital	6	Moderate	Long	9/11/2022	1.60	1.69	0.14	-1.46	14.38
CXL	Calix	4	High	Long	13/09/2021	4.22	1.51		-3.21	-64.22
EML	EML Payments	6	High	Medium	03/03/2021	3.36	1.02		-3.32	-69.64
FCL	Fineos	4	High	Medium	02/08/2023	2.51	1.87		3.61	-25.50
GL1	Global Lithium	4	High	Long	9/11/2022	2.55	0.43		0.00	-83.14
NEC	Nine Entertainment	4	Moderate	Medium	9/11/2022	2.03	1.49	0.25	-2.30	-14.29
PDNDA	Paladin Energy	4	High	Medium	27/02/2024	11.80	0.00		0.00	-100.00
PXA	PEXA Group	5	Moderate	Long	02/08/2023	12.45	11.42		-3.30	-8.27
RDY	ReadyTech	4	High	Long	22/03/2023	3.02	3.41		0.29	12.91
RPL	Regal Partners	4	Moderate	Medium	9/11/2022	2.89	2.90	0.20	1.05	7.27
SLR	Silver Lake Resources	6	Moderate	Medium	05/07/2023	1.09	1.44		1.77	32.11
SFR	Sandfire Resources	6	Moderate	Long	22/08/2023	6.26	9.24		0.76	47.60
SLX	Silex Systems	4	High	Medium	22/03/2023	3.80	4.67		-1.68	22.89
SRG	SRG Global	5	Moderate	Medium	22/03/2023	0.69	0.83	0.06	1.84	28.99

Portfolio cash position: 5%

**Recent Sales** UPDATED 27/02/2024 17:00 trade now
Company code	STOCK NAME	WEIGHT(%)	RISK	TIME HORIZON	EXIT DATE	ENTRY PRICE ($)	CLOSE PRICE ($)	DIVIDENDS ($)	GAIN / LOSS (%)
ABB	Aussie Broadband	2	Moderate	Medium	27/02/2024	4.82	4.61		-4.36
PDN	Paladin	4	High	Long	15/01/2024	0.75	1.31		74.67
PDN	Paladin	2	High	Long	11/01/2024	0.75	1.17		56
PMV	Premier Investments	4	Moderate	Medium	11/01/2024	24.78	26.89	2.99	20.58
PPS	Praemium	4	Moderate	Long	11/01/2024	0.765	0.39	0.07	-39.87
AD8	Audinate	1.5	Moderate	Medium	20/11/2023	8.94	15.04		68.23
LYC	Lynas Rare Earths Ltd	4	High	Medium	20/11/2023	8.6	6.77		-21.28
AD8	Audinate	2	Moderate	Medium	22/08/2023	8.43	12.06		43.06
BAP	Bapcor	1	Moderate	Medium	22/08/2023	6.78	6.56	0.46	3.54
CAJ	Capitol Health	5	Moderate	Medium	22/08/2023	0.4	0.23	0.04	-32.5
SBM	St Barbara	4	Moderate	Medium	05/07/2023	0.935	0.545		-41.71
SFR	Sandfire Resources	4.68	High	Medium	20/04/2023	3.93	6.95		76.84
NXT	NEXTDC	4	High	Short	13/04/2023	8.67	12.13		39.91
SHV	Select Harvests	4	Moderate	Medium	22/03/2023	6.39	4.08		-36.15
PNI	Pinnacle Investment Management	6	Moderate	Medium	01/02/2023	9.58	9.9	0.25	5.95
SFR	Sandfire Resources	2	High	Medium	8/12/2022	3.87	5.38		39
ASB	Austal Ltd	4	Moderate	Medium	8/12/2022	3.3	2.14	0.3	-26.06
STA	Strandline Resources	3	High	Medium	9/11/2022	0.25	0.41		64
PLS	Pilbara Minerals	4	High	Medium	9/11/2022	2.69	5.53		105.58
LOV	Lovisa Holdings	4	Moderate	Medium	9/11/2022	15.48	24.01	0.41	57.75
ABY	Adore Beauty	5	Moderate	Medium	9/11/2022	6.75	1.62		-76
PBH	PointsBet	6.67	High	Medium	9/11/2022	12.29	1.89		-84.62
DUB	Dubber	6	High	Medium	9/11/2022	2.81	0.305		-89.15
CXL	Calix	1	High	Long	22/07/2022	4.22	6.18		46.45
AD8	Audinate	2	Moderate	Medium	22/07/2022	8.57	8.95		4.43
NTO	Nitro Software	6	High	Medium	22/07/2022	2.99	1.2		-59.87
TYR	Tyro Payments	5	High	Medium	13/07/2022	1.87	0.65		-65.24
Z1P	Zip Co Ltd	3	High	Long	13/07/2022	4.04	0.525		-87
WSP	Whispir	4	High	Medium	11/05/2022	2.26	1.03		-54.42
IGL	IVE Group Ltd	5	Moderate	Medium	27/04/2022	2.31	1.98	0.32	-0.43

OPINION
ACTION

Opinions for stocks held in the Emerging Companies Portfolio

24/04/2024 16:32

Silver Lake Resources (SLR) $1.415

SLR +2.91% a great quarterly update and a positive move on the market in response for the Mid-cap gold company today. Silver Lake produced 65koz of gold and 349t of copper in 3Q with an All In Sustaining Cost (AISC) of $1,522/oz, well above the $3,110/oz average sale price.

24/04/2024 09:30

Chrysos Ltd (C79) $6.55

Shares in the mining technology company fell yesterday after a softer-than-expected 3Q update. Chrysos, the company developing the CSIRO Photon Assay technology, said 3 units were deployed in the period, and while this was an increase on the 2 units in 2Q, they are now expecting to fall short of their FY24 targets. Contract units hit 50; however, revenue guidance was lowered from $48-50m down to $48m. Encouragingly, earnings seem to be holding up ok despite the revenue slowdown. EBITDA is expected to be $8.5m in FY24 now, still inside the $7-17m guidance range previously provided.

23/04/2024 08:59

Sandfire Resources (SFR) $9.05

Over the last couple of weeks, copper has “popped” over 10%, whereas SFR has struggled to break clear of $9, a level it tested almost three weeks ago. This is a classic case of stocks leading their underlying commodities, both up and down. We believe SFR needs copper to forge higher through 2024 to extend its strong run, but while there will be bumps in the road, our view is both will ultimately be trading higher through 2024; hence, we intend to stay long.

19/04/2024 09:16

Aussie Broadband Ltd (ABB) $3.55

ABB was slammed in March after losing its white-label deal with Origin Energy to Superloop — ABB was looking to buy Superloop prior to losing the contract, perhaps they should have been more aggressive. ABB hasn’t really recovered since the news despite maintaining near-term guidance. Fortunately, we trimmed our position a few weeks earlier above $4.60, but a 30% drop still hurts portfolio performance.

09/04/2024 09:17

Silver Lake Resources (SLR) $1.32

SLR rallied another 3.5% on Monday as the WA gold miner continues to regain some of the lost ground since COVID. The stock hit a 12-month high on strong 3Q gold sales, reporting that both Sugar Zone and Mt Monger are on track to hit the top end of guidance in FY24 – a welcome surprise for the sector. Like a number of our preferred miners in 2024, SLR has an attractive mix of copper and gold, having YTD FY24 sales of 187,244 oz of gold and 872 tonnes of copper.

05/04/2024 09:41

Active Growth Portfolio – Amendments

We are amending the Active Growth Portfolio

05/04/2024 09:10

Paladin Energy Ltd (PDN) $1.48

PDN has trod a very similar path to CCJ, and although we aren’t bearish the miner, much of the good news for 2024 is already baked into the share price, making it look unlikely to forge significantly higher over the coming months – note another 20-30c dip will rapidly see us change our tune.

05/04/2024 09:08

Sandfire Resources Ltd (SFR) $9.07

In our opinion, SFR is the best pure copper “play” on the ASX after BHP swallowed up OZ Minerals (OZL) mid-last year. The trend is up, as are the risks; hence, we aren’t keen to trim/lose our position at this stage of the cycle, even with the miner arguably fully priced with copper at its current level.

03/04/2024 09:22

Catapult Group (CAT) $1.635

The sports tech company has quietly turned into one of the star performers in the Emerging Companies Portfolio, now sitting on a ~45% gain, with the stock up around 30% over the last few weeks, hitting 2-year highs in the process.

03/04/2024 06:29

Shaw and Partners Uranium Conference: Key Takeaways

Shaw and Partners hosted its 5th Uranium Conference on 26 March 2024. Presenters included: TradeTech, Sprott Physical Uranium Trust, WMC Energy, NexGen Energy, Peninsula Energy, Paladin Energy, Alligator Energy, Lotus Resources, Bannerman, Silex and Toro Energy.