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Flagship Growth Portfolio

For those seeking an active approach to investing in large cap ASX stocks

About the Flagship Growth Portfolio

About The Portfolio

The flagship Market Matters portfolio that provides an active approach to investing in ASX listed large cap stocks. This is a high conviction portfolio,  will go to high levels of cash if warranted and can benefit from market downturns by investing in funds that inversely track the market.

Portfolio Performance
Portfolio 1m 3m 6m 1y 3y pa ITD pa*
Flagship Growth 1.84% 5.23% 12.15% 26.81% 14.06% 15.66%
Target Return 10% 0.83% 2.50% 5.00% 10.00% 10.00% 10.00 %
Difference +1.01% +2.73% +7.15% +16.81% +4.06% +5.66%
* Inception date 10/05/2016
Portfolio Holdings trade now
COMPANY CODE STOCK NAME WEIGHT (%) RISK TIME HORIZON ENTRY DATE ENTRY PRICE ($) LAST PRICE ($) DIVIDENDS ($) GAIN / LOSS (%)
A2M a2 Milk Co Ltd/The 5 High Medium 17/02/2021 8.18 5.51 -32.64
ALU Altium Ltd 3 High Medium 25/05/2021 26.97 33.83 0.22 26.25
AWC Alumina Ltd 4 Moderate Medium 13/09/2021 2.20 2.16 -1.82
BHP BHP Group Ltd 9 Moderate Medium 21/08/2019 34.72 41.73 7.08 40.58
BVS Bravura Solutions Ltd 4 High Medium 9/06/2021 3.52 3.17 0.06 -8.24
CBA Commonwealth Bank of Australia 5 Moderate Long 13/03/2020 59.88 101.58 6.4 80.33
CSL CSL Ltd 4 Moderate Medium 16/03/2021 262.79 300.68 1.68 15.06
CSR CSR Ltd 4 Moderate Medium 3/08/2021 5.56 5.86 5.4
CWN Crown Resorts Ltd 4 High Medium 17/11/2020 9.69 9.64 -0.52
HUB HUB24 Ltd 4 Moderate Medium 7/04/2021 22.79 29.19 0.08 28.43
IAG Insurance Australia Group 4 Moderate Medium 12/08/2021 5.4 5.24 0.13 -0.56
IGO Independence Group 3 High Medium 23/08/2021 8.90 9.79 0.14 11.57
NAB National Australia Bank Ltd 5 Moderate Medium 16/06/2020 18.27 28.23 1.29 61.58
NCM Newcrest Mining Ltd 7 Moderate Medium 12/08/2020 29.35 24.47 1.24 -12.4
NWH NRW Holdings Ltd 5 High Medium 21/10/2019 2.31 1.86 0.05 -17.53
OZL Oz Minerals 3 Moderate Medium 23/07/2021 21.20 24.94 0.11 18.16
QAN QANTAS 4 High Medium 12/08/2021 4.52 5.43 20.13
STO Santos 5 High Medium 20/07/2021 6.3 6.49 0.11 4.76
WHC Whitehaven Coal Ltd 4 High Short 7/04/2021 1.62 3.09 90.74
XRO Xero Ltd 5 Moderate Long 2/04/2020 93.09 147.49 58.44
Z1P Zip Co Ltd 3 High Medium 14/07/2020 6.92 6.84 -1.16
Portfolio cash position: 6%
Recent Sales trade now
Company code STOCK NAME WEIGHT(%) RISK TIME HORIZON ENTRY DATE ENTRY PRICE ($) CLOSE PRICE ($) DIVIDENDS ($) GAIN / LOSS (%)
MND Monadelphous Group Ltd 3 High Medium 19/08/2020 9.89 10.1 0.83 10.52
LLC Lendlease Corp Ltd 5 Moderate Medium 4/05/2020 11.91 11.86 0.29 2.02
CBA Commonwealth Bank of Australia 2 Moderate Long 13/03/2020 59.88 106.44 3.54 83.67
NAB National Australia Bank Ltd 2 Moderate Medium 16/06/2020 18.27 27.29 1.29 56.43
CAR carsales.com Ltd 3 High Medium 17/05/2021 17.47 21.96 25.7
Z1P Zip Co 2 High Medium 14/07/2020 6.92 7.13 3.03
MP1 Megaport 3 High Medium 22/09/2020 15.68 16.11 2.74
WHC Whitehaven Coal 2 High Short 7/04/2021 1.62 2.04 25.93
CBA Commonwealth Bank of Australia 3 Moderate Long 13/03/2020 59.88 101.33 3.54 75.13
NAB National Australia Bank Ltd 3 Moderate Medium 16/06/2020 18.27 26.6 1.29 52.65
RHC Ramsay Health Care Ltd 4 Moderate Medium 17/09/2020 67.64 63.57 0.69 -5
MFG Magellan Financial Group Ltd 3 Moderate Medium 7/09/2020 58.12 48.95 1.28 -13.58
VUK Virgin Money UK PLC 4 Moderate Medium 3/02/2021 2.62 3.49 33.21
EHL Emeco Holdings Ltd 3 High Medium 18/03/2019 2.13 0.94 -55.87
ALL Aristocrat Leisure Ltd 3 Moderate Medium 14/07/2020 30.93 35.75 15.58
BPT Beach Energy Ltd 5 Moderate Medium 11/12/2019 2.04 1.7 0.03 -15.2
AWC Alumina Ltd 5 Moderate Medium 15/05/2020 1.52 1.69 0.10 17.76
CBA Commonwealth Bank of Australia 3 Moderate Long 16/03/2021 59.88 87.54 3.54 52.1
OZL OZ Minerals Ltd 5 Moderate Medium 10/03/2021 19.16 21.5 12.21
CGC Costa Group Holdings Ltd 3 High Medium 17/02/2021 4.51 4.08 0.08 -7.7
S32 South32 Ltd 3 Moderate Medium 8/02/2021 2.24 2.63 17.41
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Opinions for stocks held in the Growth Portfolio

HUB24 (HUB) $29.37

While HUB has made a fresh all-time high in late August to us it has a very different look & feel to the previous examples with the potential exception to CTD. We saw in June the stock make a fresh all-time high, dip and then rally again, we see no reason to believe this path won’t be repeated.

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National Australia Bank (NAB) $28.20

NAB has outperformed in the Banking Sector over the last 3-months rallying 4.4% compared to say ANZ Bank (ANZ) which has fallen 4.6%. At MM we are hoping to increase our exposure to the sector via VUK at lower levels and while a pullback in NAB wouldn’t surprise after this month’s fresh multi-year high we have no interest in risking losing our position here, especially with a healthy dividend due in November.

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Commonwealth Bank (CBA)

A less dramatic example was set by Commonwealth Bank (CBA) in August, before it traded ex-dividend in similar fashion to FMG. MM flagged this likely move for CBA and trimmed our banking exposure accordingly – we currently only have a combined 10% exposure to CBA & NAB in our Flagship Growth Portfolio compared to the sectors market weighting of around 20%.

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Whitehaven Coal (WHC) $3.10

WHC rallied 2.65% on Thursday following approval for its Vickery mine extension but after making fresh 2-year highs the stock did surrender over half of the days early gains – we remain bullish WHC but it feels like a few weeks profit taking is close at hand following its 50% appreciation in just a few quick weeks.

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CSR Ltd (CSR) $5.96

CSR caught our attention yesterday after it broke out to fresh 14-week highs as it rode a wave of optimism towards the buildings stocks. We like CSR both fundamentally and technically with our initial target up towards the $7 region – the company is forecast to pay an attractive fully franked dividend in late November which should help this outlook.

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Xero Ltd (XRO) & Appen (APX)

Thirdly, a dip into the volatile IT Sector where high valuation “hot stocks” can fall from grace in the blink of the high e.g. so far in 2021 APX is down 60% while Wisetech (WTC) is up 67%, even Afterpay (APT) is only up 5% after enjoying a takeover bid.

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The Banking Sector

Secondly, as previously flagged MM has been watching UK based bank Virgin Money (VUK) into recent weakness i.e. over the last month NAB has rallied 1.5% while VUK has fallen 5%, not spectacular but still a useful performance differential if compounded over the year. MM has moved underweight the Banking Sector holding just 5% in CBA and NAB respectively...

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Whitehaven Coal (WHC) v Coal Price ($US/MT)

Whitehaven Coal (WHC) has already illustrated the benefits which can be delivered to investors when a stock finally plays some catch up to a galloping commodity price – WHC has now rallied 84% in just 6-months after ignoring the early appreciation in the underlying coal price.

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Altium (ALU) $33.83

ALU soared over 6% yesterday on no apparent news except the reawakening of M&A speculation after the increased bid for Sydney Airports (SYD) feels likely to be successful. We believe this software business is good value under $35 even after  the company rejected Autodesk’s (ADSK US) $5bn bid which was rumoured to be pushed up to $40 before the suitor walked.

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Zip Co (Z1P) $6.84

Z1P -2.7%: the BNPL company held an investor day as they start to shape the conversation about other avenues of revenues. Zip are now looking to encourage customers to do more than just one off purchases through Zip with a digital wallet style offering including taking deposits, paying bills and even investing  & paying with crypto the first hurdle.

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Actions for stocks held in the Growth Portfolio

HUB
UPDATED 17/09/2021 09:22
MM remains long & bullish HUB
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NAB
UPDATED 17/09/2021 09:21
MM remains bullish NAB medium term
Add To Hit List
WHC
UPDATED 17/09/2021 09:19
MM remains bullish and long WHC
Add To Hit List
CSR
UPDATED 17/09/2021 09:19
MM remains bullish and long CSR
Add To Hit List
ALU
UPDATED 17/09/2021 08:59
MM is long and bullish ALU
Add To Hit List
Z1P
UPDATED 15/09/2021 08:07
CWN
UPDATED 15/09/2021 08:07
MM likes the risk / reward towards CWN under $10
Add To Hit List
OZL
UPDATED 15/09/2021 08:06
MM is bullish OZL targeting fresh 2021 highs
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MND
UPDATED 13/09/2021 10:41
MM are selling MND in the Flagship Growth Portfolio, taking profit around $10.25
Add To Hit List
MND
UPDATED 13/09/2021 08:22
MM is considering cutting our 4% holding in Monadelphous (MND)
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*Portfolio returns 12 months to 30/06/2021

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