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 31/07/2025 17:00
Portfolio	1m	3m	1y	3y	5y pa	ITD pa*
ACTIVE GROWTH	3.96%	10.71%	4.45%	12.86%	14.33%	13.33%
ASX 200 ACCUMULATION	2.36%	8.17%	11.81%	12.33%	12.26%	9.74%
VALUE ADD	+1.60%	+2.54%	(7.36%)	+0.53%	+2.07%	+3.59%

* 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 (%)
ANZ	ANZ Bank	6	Moderate	Long	08/02/2023	25.29	33.08	5.48	1.78	52.47
APA	APA Group	4	Moderate	Medium	12/12/2024	7.38	8.57	0.54	-0.35	23.44
BHP	BHP Group	8.5	Moderate	Long	27/08/2019	39.06	41.96	8.83	1.08	30.03
CSL	CSL Limited	4	Moderate	Medium	09/07/2025	245.75	270.37		0.10	10.02
EVN	Evolution Mining	4	Moderate	Medium	20/05/2025	8.15	8.01		0.88	-1.72
GMG	Goodman Group	5	Moderate	Medium	21/02/2025	34.16	35.89		0.20	5.06
GQG	GQG Partners	3	Moderate	Medium	08/08/2025	1.75	1.79		0.56	2.29
HUB	HUB24	4	Moderate	Medium	05/03/2025	71.36	108.83	0.27	0.16	52.89
JHX	James Hardie Industries	5	High	Medium	12/12/2024	51.22	45.60		-0.15	-10.97
MGR	Mirvac Group	5	Moderate	Medium	17/07/2024	2.08	2.29	0.09	-0.87	14.42
MIN	Mineral Resources	4	High	Medium	16/03/2023	44.12	36.64	0.34	1.75	-16.18
NSR	National Storage REIT	5	Moderate	Medium	11/08/2023	2.22	2.47	0.22	0.00	21.17
PDN	Paladin Energy	4	High	Medium	06/06/2024	11.20	6.71		1.82	-40.09
SFR	Sandfire Resources	3	High	Medium	07/04/2025	8.32	12.18		4.19	46.39
SUL	Super Retail Group	4	Moderate	Medium	06/12/2024	15.20	16.21	0.46	0.87	9.67
WBC	Westpac	5	Moderate	Medium	21/02/2025	31.08	36.81	1.09	2.14	21.94
WHC	Whitehaven Coal	4	High	Medium	15/11/2022	8.18	6.93	1.67	-1.28	5.13
WOR	Worley	5	High	Medium	08/05/2023	15.66	13.05	0.95	0.38	-10.60
WTC	WiseTech Global	4	High	Medium	20/05/2025	101.24	115.62		0.31	14.20
XRO	Xero	4	Moderate	Medium	18/07/2025	181.34	166.81		0.49	-8.01

Portfolio cash position: 9.5%

**Recent Sales** UPDATED 04/08/2025 17:00 trade now
Company code	STOCK NAME	ACTIVITY	RISK	TIME HORIZON	EXIT DATE	ENTRY PRICE ($)	CLOSE PRICE ($)	DIVIDENDS ($)	GAIN / LOSS (%)
MQG	Macquarie Group	Sold 6% position	Moderate	Medium	04/08/2025	224.33	212.27	6.88	-2.3
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	Sold 5% position	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

14/08/2025 09:36

APA Group (APA) $8.68

Following AGL’s ~13% plunge after it reported on Wednesday, APA was a logical place to start, with it having rallied ~30% over the last six months - it reports on the 20th.

14/08/2025 09:34

BHP Group Ltd (BHP) $41.73

BHP has been relatively unloved for much of this year, but as iron ore holds above $100/MT, begrudging upgrades are likely to be lurking in the wings - it advanced +1.1% on Wednesday.

14/08/2025 09:33

CSL Ltd (CSL) $269.55

CSL advanced 2% yesterday in a weak market, leading the healthcare sector to a 1% gain. The $130bn global biotech has struggled since COVID but we believe its defensive nature and cheap valuation compared to history puts it in an excellent position to rerate on the upside.

13/08/2025 17:44

Evolution Mining Ltd (EVN) $7.99

EVN +3.9%: outperformed its gold mining peers on Wednesday, jumping 3.9% after posting a sharp rise in annual profit and more than doubling its dividend. Stronger gold and copper prices and nearly 5% higher gold output year-on-year underpinned the result.

13/08/2025 09:21

CAR Group Ltd (CAR) $39.07

A month ago, CAR released a weaker-than-expected report and announced the departure of its long-standing CEO. At the time, we saw better risk/reward elsewhere and took profit from our position.

12/08/2025 09:04

Mineral Resources Ltd (MIN) $38.12

There has been a lot going on with MIN in recent times from a “billionaire behaving badly”, to questionable roads and depressed iron ore and lithium prices. However, we have started to see improvements from most of these metrics and the stock has more than doubled from its April low. Mineral Resources' diversified business model, including its Mining Services and iron ore operations, ensures that the company remains committed to long-term growth.

06/08/2025 09:31

Worley Ltd $12.99

WOR was the only MM Active Growth Portfolio stock to retreat on Tuesday. Overall, this was good news, but we must ask ourselves why. We believe the problem lies with overseas peer Fluor Corp (FLR US), which delivered a disappointing second-quarter result last week which fell well short of expectations, sending the stock tumbling over 30%.

04/08/2025 09:45