Active Growth Portfolio

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

About The Portfolio

The Market Matters Active Growth Portfolio provides an active exposure to Australian large-cap shares, aiming for reduced volatility. Returns will be achieved through a combination of capital appreciation and income with an overall objective of outperformance of the S&P/ASX 200 Accumulation Index over the medium term (3 years).

**Portfolio Performance** UPDATED 31/05/2026 17:00
Portfolio	1m	6m	1y	3y pa	5y pa	ITD pa	Total
ACTIVE GROWTH	1.96%	0.73%	10.51%	9.20%	9.02%	12.53%	227.87%
ASX 200 ACCUMULATION	0.90%	3.01%	7.21%	10.37%	8.05%	9.22%	142.82%
VALUE ADD	+1.06%	(2.28%)	+3.30%	(1.17%)	+0.97%	+3.31%	+85.05%

* Inception date 10/05/2016

**Portfolio Holdings** 20 MINUTES DELAYED trade now
CODE	NAME	WEIGHT (%)	RISK	TERM	BUY DATE	BUY PRICE ($)	LAST PRICE ($)	DIVIDENDS ($)	DAILY CHANGE (%)	GAIN / LOSS (%)
AMC	Amcor	4	Moderate	Long	06/02/2026	69.24	58.69	1.84	1.15	-12.58
ANZ	ANZ Bank	6	Moderate	Long	08/02/2023	25.29	35.03	7.65	-0.31	68.76
BHP	BHP Group	8.5	Moderate	Long	27/08/2019	39.06	61.40	11.61	-5.60	86.92
EVN	Evolution Mining	4	High	Medium	23/03/2026	12.24	12.54		-5.07	2.45
GMG	Goodman Group	5	Moderate	Medium	21/02/2025	34.16	31.50	0.30	-2.51	-6.91
GQG	GQG Partners	5	High	Medium	08/08/2025	1.75	1.47	0.10	0.68	-10.29
JBH	JB Hi Fi	5	Moderate	Medium	26/02/2026	81.25	77.96	3.00	-0.70	-0.36
JHX	James Hardie Industries	5	High	Medium	12/12/2024	51.22	34.46		-2.41	-32.72
LNW	Light & Wonder	4	High	Medium	11/12/2025	143.35	128.34		-2.04	-10.47
MGR	Mirvac	4	Moderate	Medium	10/03/2026	1.875	1.77		0.57	-5.60
PDN	Paladin Energy	4	High	Medium	06/06/2024	11.20	10.02		-0.69	-10.54
PME	Pro Medicus	4	High	Medium	02/06/2026	156.72	172.80		3.10	10.26
QBE	QBE Insurance	4	Moderate	Medium	06/02/2026	20.11	24.06	0.88	0.21	24.02
S32	South32	4	Medium	High	18/08/2026	4.27	4.13		-2.82	-3.28
SFR	Sandfire Resources	4	High	Medium	07/04/2025	8.90	20.72		-2.49	132.81
WBC	Westpac	5	Moderate	Medium	21/02/2025	31.08	35.01	3.29	-0.43	23.23
WHC	Whitehaven Coal	4	High	Medium	15/11/2022	8.18	8.16	1.85	0.62	22.37
WOR	Worley	5	Moderate	Medium	08/05/2023	15.66	12.21	1.20	-4.01	-14.37
WTC	WiseTech Global	5	High	Medium	20/05/2025	75.52	36.88	0.16	-0.32	-50.95
XRO	Xero	5	Moderate	Medium	18/07/2025	140.93	71.88		0.34	-49.00

Portfolio cash position: 5.5%

**Recent Sales** UPDATED 02/06/2026 17:00 trade now
Company code	STOCK NAME	ACTIVITY	RISK	TIME HORIZON	EXIT DATE	ENTRY PRICE ($)	CLOSE PRICE ($)	DIVIDENDS ($)	GAIN / LOSS (%)
APA	APA Group	Sold 4% position	Moderate	Medium	18/06/2026	7.38	10.45	0.54	48.9
RMD	ResMed	Sold 4% position	Moderate	Medium	19/04/2026	35.53	26.05	0.06	-26.5
NEM	Newmont Corp	Sold 3% position	High	Medium	03/03/2026	118.51	182.05	0.27	53.8
SUL	Super Retail Group	Sold 4% position	Moderate	Medium	26/02/2026	15.2	14.01	1.37	1.2
CSL	CSL Limited	Sold 5% position	Moderate	Medium	26/02/2026	239.65	145.18	2.48	-38.4
HUB	HUB24	Sold 4% position	Moderate	Medium	06/02/2026	71.36	83.59	0.73	18.2
CAR	CAR Group	Sold 4% position	High	Long	05/02/2026	33.31	25.64		-23
MIN	Mineral Resources	Sold 3% position	High	Long	21/01/2026	44.12	60.44	0.25	37.6
NSR	National Storage	Sold 5% position	Moderate	Long	11/12/2025	2.22	2.79	0.22	35.6
MIN	Mineral Resources	Trimmed 1%	High	Long	14/11/2025	44.12	50.47	0.34	15.2
MGR	Mirvac Group	Sold 5% position	High	Long	30/10/2025	2.08	2.3	0.09	14.9
EVN	Evolution Mining	Sold 4% position	High	Long	16/09/2025	8.15	9.44	0.19	18.2
CAR	CAR Group	Sold 4% position	Moderate	Medium	20/03/2025	34.45	37.54	0.47	10.3
HUB	HUB24	Trimmed 1%	Moderate	Medium	09/07/2025	71.36	95.68	0.34	34.6
XRO	Xero	Sold 4% position	Moderate	Long	18/06/2025	101.29	193.5		91
SFR	Sandfire Resources	Trimmed 1%	High	Medium	18/06/2025	8.32	11.68		40.4
ALL	Aristocrat Leisure	Sold 5% position	High	Long	20/05/2025	65.13	62.55		-4
ILU	Iluka Resources	Sold 4% position	High	Medium	20/05/2025	6.02	3.85	0.06	-35
BHP	BHP Group	Trimmed 2%	Moderate	Long	07/04/2025	39.63	34.31	11.18	14.8
NXT	NEXTDC	Sold 5% position	Moderate	Medium	02/04/2025	17.06	11.39		-33.2
EVN	Evolution Mining	Sold 3% position	High	Long	31/03/2025	2.94	7.1	0.25	150
SFR	Sandfire Resources	Sold 4% position	High	Medium	28/03/2025	6.44	10.85		68.5
TWE	Treasury Wine Estates	Sold 5% position	High	Medium	12/03/2025	13.6	9.8	1.23	-18.89
CSL	CSL Limited	Sold 6% position	Moderate	Medium	24/02/2025	277	259.25	2.2	-5.61
HLS	Healius	Sold 4% position	High	Medium	24/02/2025	1.72	1.29		-25
AGL	AGL Energy	Sold 4% position	Moderate	Medium	12/12/2024	10.22	10.79	0.35	9
S32	South32	Sold 4% position	Moderate	Medium	12/12/2024	3.28	3.46	0.07	7.6
MFG	Magellan Financial Group	Sold 4% position	Moderate	Medium	06/12/2024	9.15	11.22	0.43	27.3
CAR	CAR Group (CAR)	Sold 4% position	Moderate	Medium	06/12/2024	33.13	40.1	0.47	22.5
GPT	GPT Group	Sold 4% position	Moderate	Medium	07/11/2024	4.66	4.45		-4.5
SFR	Sandfire Resources	Trimmed 1%	Moderate	Medium	30/10/2024	6.44	10.31		60.1
S32	South32	Trimmed 1%	Moderate	Medium	30/10/2024	3.28	3.71	0.07	15.2
EVN	Evolution Mining	Trimmed 1%	Moderate	Medium	20/08/2024	2.94	4.26	0.08	47.6
JBH	JB Hi-Fi (JBH)	Sold 4% position	Moderate	Medium	13/08/2024	56.8	75.44		32.82
NAB	Nation Australia Bank	Sold 6% position	Moderate	Medium	05/08/2024	30.33	35.06	3.59	27.43
GMG	Goodman Group	Sold 3% position	High	Medium	01/08/2024	21.15	36.44	0.36	73.99
RHC	Ramsay Healthcare	Sold 5% position	Moderate	Long	17/07/2024	68.86	47.25	0.93	-30.03
GMG	Goodman Group	Trimmed 1%	High	Medium	12/07/2024	21.15	35.58	0.36	69.92
XRO	Xero	Trimmed 1%	Moderate	Long	12/07/2024	101.29	140.35		38.56
PLS	Pilbara Minerals	Sold 4% position	High	Medium	12/06/2024	3.48	3.44		-1.15
CTD	Corporate Travel	Sold 4% position	Moderate	Medium	30/05/2024	16.46	13.06		-20.66
ILU	Iluka	Sold 4% position	High	Medium	10/05/2024	7.2	7.68	0.06	7.5
RMD	ResMed	Sold 5% position	Moderate	Medium	19/04/2024	33.23	27.92	0.39	-14.81
EVN	Evolution Mining	Trimmed 1%	Moderate	Medium	5/04/2024	2.94	3.85	0.016	31.5
PDN	Paladin Energy	Sold 4% position	High	Medium	5/04/2024	1.18	1.42		20.33
ORA	Orora		Moderate	Medium	3/04/2024	2.8	2.24	0.05	-18.21
LLC	Lendlease	Sold 5% position	High	Medium	6/03/2024	7.2	6.18		-14.14
ALU	Altium	Sold 5% position	High	Medium	31/01/2024	42.53	49.27		15.85
MQG	Macquarie Group	Sold 6% position	Moderate	Medium	31/01/2024	177.99	189.41	13.29	13.88
NST	Northern Star	Sold 5% position	High	Medium	18/01/2024	11.14	12.16	0.16	10.59
PDN	Paladin	Trimmed 3%	High	Medium	15/01/2024	0.83	1.31		57.83
MFG	Magellan Financial Group	Sold 4% position	High	Medium	08/01/2024	9.22	9.09	0.93	8.68
WDS	Woodside	Sold 4% position	Moderate	Medium	24/10/2023	35.66	35.23	1.78	3.79
CWY	Cleanaway Waste Management	Sold 5% position	High	Medium	05/10/2023	2.69	2.34	0.02	-12.27
NCM	Newcrest Mining	Sold 5% position	Moderate	Medium	25/08/2023	29.35	25.42	2.52	-4.8
ELD	Elders	Sold 3% position	High	Medium	25/08/2023	7.11	6.47		-9
SEK	Seek	Sold 3% position	High	Medium	17/08/2023	24.29	23.35	0.34	-2.47
GMG	GMG	Sold 5% position	Moderate	Medium	11/08/2023	23.43	20.17	0.3	-12.63
ILU	Iluka	Sold 5% position	Moderate	Medium	21/06/2023	10.74	11.66	0.64	14.53
JHX	James Hardie	Sold 4% position	High	Medium	21/06/2023	31.2	39.89		27.85
CSL	CSL Limited	Sold 4% position	Moderate	Medium	15/06/2023	260.92	279.41	3.82	8.55
JHX	James Hardie	Trimmed 1%	High	Medium	26/05/2023	31.2	37.83		21.25
XRO	Xero	Trimmed 2%	High	Long	22/05/2023	92.85	108.79		17.16
WDS	Woodside	Sold 3% position	Moderate	Medium	08/05/2023	30.23	34.05	5.28	30.1
IGO	Independence Group	Sold 3% position	Moderate	Medium	28/04/2023	10.66	13.61	0.27	30.21
SFR	Sandfire Resources	Sold 3% position	High	Medium	20/04/2023	4.1	6.93		69.02
CSL	CSL Ltd	Trimmed 2%	Moderate	Medium	20/04/2023	260.92	300.94	3.82	16.8
REA	REA Group	Sold 2% position	High	Medium	20/04/2023	120.42	140.69	1.07	17.72
ALU	Altium	Sold 5% position	High	Medium	12/04/2023	28.8	37.65	1.08	34.48

OPINION
ACTION

Opinions for stocks held in the Growth Portfolio

18/06/2026 09:43

Trade Alert – Active Growth Portfolio

We are making two changes to the Growth Portfolio.

17/06/2026 09:18

Worley Ltd (ASX: WOR) $12.91

We last looked at Worley back in February after the stock fell more than 10% after its 1H result raised questions around the quality of its earnings - covered here. At the time, we held onto our position but did put it under review; today we’re glad we stuck to our guns with the stock rallying more than +30% over the last four months, in a flat, choppy market.

10/06/2026 09:26

GQG Partners (ASX: GQG) $1.45

GQG Partners has been one of the more frustrating positions in our portfolios through 2026. The stock has fallen around 19% year-to-date, significantly underperforming the broader market, although investors have at least been compensated by a healthy income stream, with 7.19c per share already paid in dividends this year, equating to roughly 5%. Looking forward, the market is still forecasting a yield comfortably above 10% over the next twelve months.

03/06/2026 09:30

JB Hi-Fi (ASX: JBH) $71.02

JBH and a number of other discretionary retail stocks were under pressure yesterday following the Fair Work Commission’s decision to lift minimum and award wages by 4.75% from 1 July. The move impacts around 2.8 million workers and has clear implications for labour-intensive sectors such as retail, hospitality and services.

02/06/2026 09:47

Pro Medicus (ASX: PME) $144.46

Pro Medicus (PME) was one of the market’s favourite stocks in 2025, and while its ~$15bn valuation against revenue of only around ~$260m triggered a valuation reset, the business itself has continued to execute exceptionally well. Importantly, the recent pullback has been driven far more by multiple compression than any deterioration in the company’s fundamentals. In our view, PME remains the highest-quality and arguably most defensively positioned software business on the ASX.

02/06/2026 09:41

Xero (ASX: XRO) $80.95

Xero (XRO) has faced similar AI-related scrutiny to many software names, with investors increasingly questioning how generative AI will reshape the economics of cloud accounting software. Despite delivering a solid FY26 result, covered here, the stock struggled as investors focused on the negatives, including Melio-related noise and rising AI-related competitive risk.

01/06/2026 09:03

Shawn’s Trade Idea: Buy Xero Ltd (ASX: XRO) ~$76

In line with the “risk on” attitude washing through US markets, aka the meme stocks, and the strong ~6% gain by rival Intuit Inc (NADSAQ: INTU) on Friday night we believe the risk/reward towards battered local software names, like Xero looks attractive.

28/05/2026 09:28

Goodman Group (ASX: GMG) $31.13

GMG delivered a broadly inline trading update this week, reaffirming FY26 guidance, but it was the market's reaction that we found the most interesting - the stock initially dipped under $29, for the first time since April, before reversing higher; it closed ~9% above the swing low on Wednesday.

26/05/2026 09:25

Paladin Energy Ltd (ASX: PDN) $11.48

26/05/2026 09:22

Whitehaven Coal Ltd (ASX: WHC) $8.87

Whitehaven Coal was a standout performer on Monday driving +8.7% higher, taking to stock back towards its eight week high. WHC delivered a solid March quarter update, covered here, which showed the miner was on track to meet the upper half of it FY26 guidance.