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Active 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*
Active Growth -4.80% -7.32% -2.60% 12.63% 16.11% 12.79%
ASX 200 Accumulation -3.78% -7.19% -5.30% 2.95% 8.89% 7.55%
Difference to benchmark (1.02%) (0.13%) +2.70% +9.68% +7.22% +5.24%
* Inception date 10/05/2016
Portfolio Holdings trade now
COMPANY CODE STOCK NAME WEIGHT (%) RISK TIME HORIZON ENTRY DATE ENTRY PRICE ($) LAST PRICE ($) DIVIDENDS ($) DAILY CHANGE (%) GAIN / LOSS (%)
ALU Altium 5 High Medium 05/10/2023 42.53 44.98 0.00 5.76
ANZ ANZ Bank 6 Moderate Long 08/02/2023 25.29 24.37 2.29 0.00 5.42
BHP BHP Group 8 Moderate Long 27/08/2019 39.51 46.30 10.81 0.00 44.55
EVN Evolution Mining 3 Moderate Medium 1/12/2022 2.83 4.09 0.09 0.00 47.70
GMG Goodman Group 4 High Medium 24/10/2023 21.15 22.75 0.00 7.57
LLC Lendlease 5 Moderate Medium 30/06/2023 7.49 6.63 0.10 0.00 -10.15
MIN Mineral Resources 5 High Medium 16/03/2023 73.73 61.17 0.80 0.00 -15.95
MFG Magellan 4 High Medium 21/06/2023 9.22 7.44 0.93 0.00 -9.22
MQG Macquarie Group 6 Moderate Medium 28/01/2022 177.99 169.05 13.29 0.00 2.44
NAB National Australia Bank 6 Moderate Medium 15/12/2022 30.33 28.40 2.39 0.00 1.52
NSR National Storage REIT 5 Moderate Medium 11/08/2023 2.22 2.16 0.00 -2.70
NST Northern Star Resources 5 High Medium 25/08/2023 11.14 12.73 0.16 0.00 15.71
PDN Paladin Energy 3 High Medium 25/08/2023 0.83 0.98 0.00 18.07
RHC Ramsay Healthcare 5 Moderate Long 12/04/2023 68.86 49.16 0.36 0.00 -28.09
RMD Resmed 5 Moderate Medium 28/10/2021 33.23 24.34 0.33 0.00 -25.76
SFR Sandfire Resources 4 High Medium 18/05/2023 5.87 6.16 0.00 4.94
TWE Treasury Wine Estates 5 High Medium 20/04/2023 13.60 10.70 0.24 0.00 -19.56
WHC Whitehaven Coal 4 High Medium 15/11/2022 8.18 7.14 1.06 0.00 0.24
WOR Worley 4 High Medium 08/05/2023 15.85 16.96 0.25 0.00 8.58
XRO Xero 5 Moderate Long 02/04/2020 101.29 103.05 0.00 1.74
Portfolio cash position: 3%
Recent Sales trade now
Company code STOCK NAME WEIGHT(%) RISK TIME HORIZON EXIT DATE ENTRY PRICE ($) CLOSE PRICE ($) DIVIDENDS ($) GAIN / LOSS (%)
WDS Woodside 4 Moderate Medium 24/10/2023 35.66 35.23 1.78 3.79
CWY Cleanaway Waste Management 5 High Medium 05/10/2023 2.69 2.34 0.02 -12.27
NCM Newcrest Mining 5 Moderate Medium 25/08/2023 29.35 25.42 2.52 -4.8
ELD Elders 3 High Medium 25/08/2023 7.11 6.47 0 -9
SEK Seek 3 High Medium 17/08/2023 24.29 23.35 0.34 -2.47
GMG GMG 5 Moderate Medium 11/08/2023 23.43 20.17 0.3 -12.63
ILU Iluka 5 Moderate Medium 21/06/2023 10.74 11.66 0.64 14.53
JHX James Hardie 4 High Medium 21/06/2023 31.2 39.89 27.85
CSL CSL Limited 4 Moderate Medium 15/06/2023 260.92 279.41 3.82 8.55
JHX James Hardie 1 High Medium 26/05/2023 31.2 37.83 21.25
XRO Xero 2 High Long 22/05/2023 92.85 108.79 0 17.16
WDS Woodside 3 Moderate Medium 08/05/2023 30.23 34.05 5.28 30.1
IGO Independence Group 3 Moderate Medium 28/04/2023 10.66 13.61 0.27 30.21
SFR Sandfire Resources 3 High Medium 20/04/2023 4.1 6.93 69.02
CSL CSL Ltd 2 Moderate Medium 20/04/2023 260.92 300.94 3.82 16.8
REA REA Group 2 High Medium 20/04/2023 120.42 140.69 1.07 17.72
ALU Altium 5 High Medium 12/04/2023 28.8 37.65 1.08 34.48
CBA Commonwealth Bank 5 Moderate Long 08/02/2023 59.88 110.4 11.9 104.24
SEK Seek 5 Moderate Medium 03/02/2023 19.86 25.55 28.65
MQG Macquarie Group 2 Moderate Medium 03/02/2023 178.3 190.89 6.34 10.61
SFR Sandfire Resources 1.07 High Medium 18/01/2023 4.1 6.15 50
HUB HUB24 4 Moderate Medium 09/01/2023 22.79 27.66 0.37 22.99
SFR Sandfire Resources 1.5 High Medium 08/12/2022 4.07 5.38 32.18
BHP BHP Group Ltd 3 Moderate Long 08/12/2022 37.4 46.42 9.02 48.23
OZL Oz Minerals 3 Moderate Medium 23/11/2022 18.11 27.44 0.11 52.13
IGO Independence Group 2 Moderate Medium 23/11/2022 10.66 15.99 0.07 50.66
ALL Aristocrat 5 Moderate Medium 23/11/2022 37.93 35.35 0.27 -6.09
WDS Woodside 2 Moderate Medium 15/11/2022 30.23 38.62 2.27 35.26
RHC Ramsay Healthcare 4 Moderate Medium 9/11/2022 71.56 58.8 0.69 -16.87
MP1 Megaport 3 High Short 27/09/2022 7.82 6.5 -16.87
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Opinions for stocks held in the Growth Portfolio

Xero Ltd (XRO) v Telstra Group Ltd (TLS)

XRO has enjoyed a solid 2023, advancing +45% year-to-date, but the last few months have proved disappointing as the stocks corrected 20% following a soft report recently. We like the online accounting business, but valuation is always a concern, especially if/when we enter a risk-off period for equities.

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Altium Ltd (ALU) v APA Group (APA)

ALU, like most of the Tech Sector, has enjoyed a solid 2023, advancing +26% year-to-date, but again, the last few months have proved disappointing as the stocks corrected 21% after an aggressive drive higher following an impressive result in August.

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Paladin Energy Ltd (PDN) $1.005

MM remains a fan of the uranium sector into 2024. Still, we won’t be afraid to take profits if PDN or any other of our positions reach our objectives, especially when considering increasing cash levels.

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Northern Star Resources (NST) $12.67

It would have been easy for us to have written a whole report on gold this morning, but it would have been very repetitive of recent notes; hence, we have just selected one stock that stood out to MM on Wednesday. Gold and gold stocks continue to look great, typified by NST yesterday as it rallied +4.4%, breaking out to a fresh 4-month high in the process.

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Worley Ltd (WOR) v Woodside Energy (WDS)

The correlation between WOR and WDS has been very close post-COVID, apart from over recent months where WOR has proved a big winner; year-to-date, WOR is up +14.1% while WDS has fallen -10.4%. We are in no hurry to consider switching our WOR holding into WDS, but another 10% differential might create some temptation.

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Evolution Mining Ltd (EVN) $3.75

EVN rallied +1.9%, following precious metals higher, their performance this year has been solid, tracking the gold price higher, i.e. EVN is ~6% below Mays high whereas the gold price, in $US, is 2.5% below its May high. However, considering how close gold is to its 2020 all-time high, it would disappoint long-term investors that EVN has fallen more than 40% over the last 3 years.

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Ramsay Health Care (RHC) $50.81

RHC has traded between $47 and $54 since the disappointing result in August. Unlike HLS, Ramsay has addressed its balance sheet after selling its Sime Darby JV

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Macquarie Group Ltd (MQG) $158.53

MQG fell -$4.22 in absolute terms on Monday, or -2.6%, but we should remember the stock traded ex-dividend $2.55, 40% franked. Hence, the stock only slipped -1%, including the dividend, which was not a major move in a weak market, although the current momentum isn’t good, and we can see a break to fresh 2-year lows unless we see a Christmas rally sooner rather than later.

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Lendlease Corp Ltd (LLC) $6.28

LLC has struggled since interest rates started to advance, but they’ve arguably magnified the sector's weakness, e.g. the stock is down another ~20% in 2023 alone. We have a core bullish outlook on bonds and bearish yields, which should finally offer a tailwind for LLC into 2024, it feels overdue to average or cut as the stock plumbs multi-year lows

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ANZ Bank (ANZ) $24.70

ANZ -3.02%: Reported FY23 results this morning which were around 1.5% below consensus in terms of cash profit. Net Interest Margin (NIM) was weak, about 6bps below expectations but a more significant -33bps half on half for Australian retail NIM which highlights how hard ANZ went to gain market share (via low rates which compress margins).

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Actions for stocks held in the Growth Portfolio

PDN
UPDATED 30/11/2023 09:14
MM is targeting the $1.15-1.20 area for PDN
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ALU
UPDATED 30/11/2023 08:59
MM is considering switching from ALU to APA
Add To Hit List
XRO
UPDATED 30/11/2023 08:59
MM is considering switching from XRO to TLS
Add To Hit List
NST
UPDATED 30/11/2023 08:50
MM remains long and bullish NST
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EVN
UPDATED 28/11/2023 09:49
MM remains long and bullish EVN
Add To Hit List
BHP
UPDATED 22/11/2023 16:43
MM remains bullish towards the BHP short-term
Add To Hit List
RHC
UPDATED 22/11/2023 09:06
TWE
UPDATED 17/11/2023 12:46
MM is long and cautiously bullish on TWE
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LLC
UPDATED 16/11/2023 14:18
MM are increasing LLC in the Flagship Growth Portfolio, targeting a 5% portfolio weighting around $6.50
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MQG
UPDATED 15/11/2023 08:49
MM remains long and bullish toward MQG
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