Active Growth Portfolio

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

12.85% Inception-to-date Performance

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 31/08/2026 17:00
Portfolio	1m	6m	1y	3y pa	5y pa	ITD pa	Total
ACTIVE GROWTH	6.44%	1.00%	6.98%	9.34%	8.97%	12.85%	224.40%
ASX 200 ACCUMULATION	1.54%	0.32%	4.40%	11.24%	7.81%	9.45%	153.3%
VALUE ADD	+4.90%	+0.68%	+2.58%	(1.90%)	+1.16%	+3.40%	+95.20%

* 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	65.99	2.76	2.95	-0.71
ANZ	ANZ Bank	6	Moderate	Long	08/02/2023	25.29	40.04	7.65	0.88	88.57
BHP	BHP Group	8	Moderate	Long	27/08/2019	39.06	55.05	13.58	-3.64	75.70
EVN	Evolution Mining	4	High	Medium	23/03/2026	12.24	11.31	0.30	-4.48	-5.15
GMG	Goodman Group	5	Moderate	Medium	21/02/2025	34.16	25.27	0.30	-3.62	-25.15
GQG	GQG Partners	5	High	Medium	08/08/2025	1.75	1.00	0.18	-1.49	-32.57
HUB	HUB24	4	High	Moderate	08/07/2026	82.01	67.21	0.60	0.63	-17.31
JBH	JB Hi-Fi	4	High	Medium	07/10/2026	70.55	73.24		2.19	3.81
LNW	Light & Wonder	4	High	Medium	11/12/2025	143.35	130.00		2.80	-9.31
MGR	Mirvac	5	Moderate	Medium	10/03/2026	1.85	1.81	0.05	-0.55	0.54
PDN	Paladin Energy	4	High	Medium	06/06/2024	11.20	6.88		-5.23	-38.57
PME	Pro Medicus	4	High	Medium	02/06/2026	156.72	198.38	0.53	2.56	26.92
REH	Reece	4	High	Medium	25/06/2026	16.74	17.42	0.19	1.52	5.20
S32	South32	4	Medium	Medium	18/06/2026	4.27	4.13	0.10	-5.28	-0.94
SFR	Sandfire Resources	4	High	Medium	07/04/2025	8.90	18.45	0.50	-6.91	112.92
WBC	Westpac	5	Moderate	Medium	21/02/2025	31.08	36.79	3.29	3.11	28.96
WHC	Whitehaven Coal	4	High	Medium	15/11/2022	8.18	7.91	2.02	3.40	21.39
WOR	Worley	5	Moderate	Medium	08/05/2023	15.66	9.50	1.45	0.32	-30.08
WTC	WiseTech Global	5	High	Medium	20/05/2025	75.52	40.12	0.33	-2.15	-46.44
XRO	Xero	5	Moderate	Medium	18/07/2025	140.93	64.19		0.77	-54.45

Portfolio cash position: 7%

**Recent Sales** UPDATED 08/09/2026 17:00 trade now
Company code	STOCK NAME	ACTIVITY	RISK	TIME HORIZON	EXIT DATE	ENTRY PRICE ($)	CLOSE PRICE ($)	DIVIDENDS ($)	GAIN / LOSS (%)
PLS	Pilbara Minerals	Sold 3% position	High	Medium	17/09/2026	4.83	4.21	0.07	-11.4
BHP	BHP Group	Trimmed 0.5%	Moderate	Medium	08/09/2026	39.06	62.75	13.58	95.42
JBH	JB Hi-Fi	Sold 5% position	Moderate	Medium	18/08/2026	81.25	72.1	3	-7.57
QBE	QBE Insurance	Sold 4% position	Moderate	Medium	08/07/2026	20.11	25.28	0.88	30.1
JHX	James Hardie	Sold 5% position	High	Medium	25/06/2026	51.22	37.06		-27.6
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	02/06/2026	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

23/10/2026 16:59

Whitehaven Coal (ASX: WHC) $7.91

23/10/2026 09:22

ANZ Group Ltd (ANZ) $39.69

ANZ has been the standout local bank having delivered a solid 3Q26 trading update here, and we simply see no reason not to be long the bank that’s executing best, especially with its relatively low housing exposure. It's still the cheapest of the Big Four local banks, which we do not feel is warranted under Nuno Matos; it’s a legacy issue that’s slowly being addressed by this year's outperformance.

23/10/2026 09:21

Pro Medicus Ltd (ASX: PME) $193.42

PME has already started to regain ground after being caught up in the recent software sell-off. The company continues to deliver, winning new contracts and upscaling existing ones; its share price is all about what valuation the markets are prepared to attach to growth stocks, with bond yields a major influence here.

23/10/2026 09:20

Xero Ltd (ASX: XRO) $63.70

Xero has endured an awful 12-months and obviously MM wishes we’d jettisoned it months ago but we have to review things from today, and it's gaining strength and looks on track to retest its August highs - a simple slight valuation rerating will get it there after dropping ~70% in recent times. Encouragingly, US rival Intuit surged almost 6% overnight despite general weakness in US tech.

20/10/2026 16:26

BHP (ASX: BHP) $59.50

BHP – 1.8% traded lower today after reporting a mixed but solid September-quarter, with strong iron ore and coal production offset by a sharp fall in copper output. Importantly, FY27 guidance was maintained across all major commodities, although copper now carries less room for error through the balance of the year.

20/10/2026 09:37

Whitehaven Coal Ltd (ASX: WHC) $7.93

Whitehaven has been the ugly cousin compared to New Hope (NHC) in 2026, with WHC only marginally ahead YTD. NHC has been supported by its direct exposure to thermal coal prices, which have benefited from the US–Iran conflict. Its low-cost Bengalla operation provides leverage to stronger thermal coal prices, while the ramp-up at New Acland helped lift FY26 saleable production by 7.6% to 11.5Mt. WHC’s greater exposure to metallurgical coal following its Daunia and Blackwater acquisitions has limited its participation in the thermal coal rally.

15/10/2026 09:49

GLEN vs BHP & RIO: The Copper growth story

Glencore’s ASX listing through CHESS Depositary Interests (CDIs) has given ASX only investors with direct access to another global diversified miner with growing exposure to copper, the industrial metal at the forefront of global electrification. Copper is forecast to increase from around one-third of Glencore’s earnings (EBITDA) in FY26 to more than half by the early 2030s, supported by projects across South America and Central Africa, alongside optimisation of existing operations including Collahuasi, Antapaccay and Katanga/KCC - in other words, its profile is evolving like BHPs over the coming years, a factor we like.

15/10/2026 09:47

Potential M&A

We believe there's more to Glencore’s listing on the ASX than just valuation, although that’s a bonus on a couple of fronts. We will be amazed if GLC isn’t involved in some M&A in the coming years; it's certainly got history!

14/10/2026 17:05

Paladin Energy (ASX: PDN) $7.28

PDN -9.34%: The September quarter was softer than expected, with lower production and higher costs at Langer Heinrich, however the sell off looks like an overreaction to us, given the planned shutdown was already well communicated to the market.

13/10/2026 10:11

Goodman Group (ASX: GMG) $26.64

We discussed GMG at length 2-weeks ago here, after they delivered a solid FY26 result, with operating EPS increasing 10%, although FY27 growth guidance of 9% was slightly below expectations. Its data centre opportunity continues to expand rapidly, with development work in progress (WIP) up 53% to $19.7bn, of which 78% is allocated to data centres. The strategic shift towards fully fitted facilities should allow GMG to capture a greater share of the AI infrastructure investment boom, although this also comes with higher capital requirements and increased execution risk.