Flagship Growth Portfolio

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

20.41% Flagship Growth Portfolio FY21 Performance to date

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** UPDATED 28/02/2021 17:00
Portfolio	1m	3m	6m	1y	3y pa	ITD pa*
Flagship Growth	1.26%	2.38%	20.44%	42.73%	11.87%	14.12%
Target Return 10%	0.83%	2.50%	5.00%	10.00%	10.00%	10.00 %
Difference	+0.43%	-0.12%	+15.44%	+32.73%	+1.87%	+4.12%

* Inception date 10/05/2016

**Portfolio Holdings** UPDATED 14/04/2021 17:00 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	3	High	Medium	17/02/2021	10.11	8.26		-18.3
BHP	BHP Group Ltd	9	Moderate	Medium	21/08/2019	34.72	46.01	3.20	41.73
CBA	Commonwealth Bank of Australia	10	Moderate	Long	13/03/2020	59.88	87.8	3.54	52.54
CSL	CSL Ltd	4	Moderate	Medium	16/03/2021	262.79	267.8		1.91
CWN	Crown Resorts Ltd	4	High	Medium	17/11/2020	9.69	12.03		24.15
HUB	HUB24 Ltd	4	Moderate	Medium	7/04/2021	22.79	22.69		-0.44
LLC	Lendlease Corp Ltd	5	Moderate	Medium	4/05/2020	11.91	13.25	0.173	12.7
MFG	Magellan Financial Group Ltd	3	Moderate	Medium	7/09/2020	58.12	49.32	1.28	-12.94
MND	Monadelphous Group Ltd	3	High	Medium	19/08/2020	9.89	10.59	0.53	12.44
MP1	Megaport Ltd	3	High	Medium	22/09/2020	15.68	12.23		-22
NAB	National Australia Bank Ltd	10	Moderate	Medium	16/06/2020	18.27	26.72	0.43	48.6
NCM	Newcrest Mining Ltd	7	Moderate	Medium	12/08/2020	29.35	27.19	0.45	-5.83
NWH	NRW Holdings Ltd	5	High	Medium	21/10/2019	2.31	2.03	0.05	-9.96
RHC	Ramsay Health Care Ltd	4	Moderate	Medium	17/09/2020	67.64	68.01	0.69	1.57
WHC	Whitehaven Coal Ltd	4	High	Short	7/04/2021	1.79	1.85		3.07
XRO	Xero Ltd	3	Moderate	Long	2/04/2020	70.68	146.08		106.68
Z1P	Zip Co Ltd	3	High	Medium	14/07/2020	6.75	9.61		42.37

Portfolio cash position: 16%

**Recent Sales** UPDATED 14/04/2021 17:00 trade now
Company code	STOCK NAME	WEIGHT(%)	RISK	TIME HORIZON	ENTRY DATE	ENTRY PRICE ($)	CLOSE PRICE ($)	DIVIDENDS ($)	GAIN / LOSS (%)
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
VOC	Vocus Communications	3	Moderate	Medium	3/02/2021	3.45	4.18		21.16
BIN	Bingo	5	Moderate	Medium	9/12/2020	2.71	2.6	0.02	-3.32
SGR	Star Entertainment Group	4	Moderate	Medium	17/11/2020	3.15	3.76		19.37
WSA	Western Areas	4	Moderate	Medium	10/11/2020	2.56	1.98		-22.66
BVS	Bravura Solutions Ltd	3	High	Medium	10/11/2020	4.5	3		-33.33
APX	Appen	3	High	Medium	10/11/2020	31.7	33.24		4.86
MQG	Macquaire Group	3	Moderate	Medium	22/09/2020	123.38	120.26	2.11	-0.82
OZL	OZ Minerals	3	Moderate	Medium	22/09/2020	9.77	14.2	0.21	47.49
SSM	Service Stream	3	Moderate	Medium	17/09/2020	2.75	1.81	0.06	-32
BHP	BHP Group	3	Moderate	Medium	17/09/2020	33.98	37.53	1.35	14.42
OZL	OZ Minerals	2	Moderate	Medium	7/09/2020	9.77	14.65	0.21	52.1

OPINION
ACTION

Opinions for stocks held in the Growth Portfolio

15/04/2021 10:51

Whitehaven Coal (WHC) $1.57

Leading into this update we’ve seen a consistent string of broker upgrades, Goldman Sachs upped it to $2.20 price target , Bell Potter to $2.35, and Morgan Stanley to a bullish $2.60, in other words, the market had become universally bullish WHC as coal prices rallied and WHC management did a good job of talking up the stock with a marketing push around town.

15/04/2021 09:26

Ramsay Healthcare (RHC) $68.01

Private hospital operator RHC has been trading sideways for almost a year and we feel as the COVID backdrop improves this quality business is positioned strongly. Our 4% holding is not huge and we may look to increase as we tweak across other areas.

14/04/2021 16:44

Zip Co (Z1P) $9.61

Z1P -1.23%: Jumped out of the blocks this AM after Citi upgraded to a BUY with an $11.30 PT, Z1P rallied to a $10.62 high before entering a trading halt to raise capital.

14/04/2021 12:35

Flagship Growth Portfolio – Amendments

We are selling two holdings in the Flagship Growth Portfolio to increase cash into prevailing strength

14/04/2021 09:28

Emeco Holdings (EHL) 95.5c

Most portfolios have a “dog” lurking in their midst and ours undoubtedly is mining equipment rental business EHL which although it’s doubled over the last year has failed to regain the vast majority of it’s COVID losses.

14/04/2021 09:17

Xero Ltd (XRO) $143.22

Australian heavyweight tech name Xero (XRO) has now rallied almost 40% from its March low, a great illustration of cream floating to the top.

13/04/2021 17:33

Zip Co (Z1P) $9.73

Z1P +16.95%: Lead the index’s gainers today with a big jump on some strong quarterly numbers. The digital payments company saw revenue climb 83% on year to $112m as transaction volume hit $1.6b – more than double that of 3Q20.

13/04/2021 09:57

Monadelphous (MND) $11.02

In hindsight MM has unfortunately held onto our mining services positions in MND and NRW Holdings (NWH) too long and some great paper profits have vanished as corrections have been far deeper than we anticipated.

13/04/2021 09:56

Virgin Money (VUK) $3.46

VUK has been a great position for MM rallying well over 30% since we went long in February.

13/04/2021 09:56

National Australia Bank (NAB) $26.83

MM has made no secret of our like for banks moving forward and its held us in good stead over the last year but with its dividend looming in May an aggressive move on the upside by NAB wouldn’t surprise MM as yield hungry investors eye the fully franked offering.