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 28/02/2026 17:00
Portfolio	1m	6m	1y	3y pa	5y pa	ITD pa	Total
ACTIVE GROWTH	-0.74%	5.99%	17.45%	11.98%	11.79%	13.51%	253.85%
ASX 200 ACCUMULATION	4.11%	2.90%	16.19%	12.22%	10.78%	9.98%	159.96%
VALUE ADD	(4.85%)	+3.09%	+1.26%	(0.34%)	+1.01%	+3.56%	+93.89%

* 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	54.50	0.93	-3.21	-19.95
ANZ	ANZ Bank	6	Moderate	Long	08/02/2023	25.29	37.00	6.56	-0.05	72.24
APA	APA Group	4	Moderate	Medium	12/12/2024	7.38	9.50	0.54	-0.78	36.04
BHP	BHP Group	8.5	Moderate	Long	27/08/2019	39.06	47.65	11.61	-1.45	51.72
EVN	Evolution Mining	3	High	Medium	19/01/2026	12.38	12.15		-0.53	-1.86
GMG	Goodman Group	5	Moderate	Medium	21/02/2025	34.16	25.75	0.30	0.63	-23.74
GQG	GQG Partners	5	Moderate	Medium	08/08/2025	1.75	1.69	0.07	2.42	0.57
JBH	JB Hi Fi	4	Moderate	Medium	26/02/2026	83.98	73.44	3.00	-1.79	-8.98
JHX	James Hardie Industries	5	High	Medium	12/12/2024	51.22	27.69		-2.41	-45.94
LNW	Light & Wonder	4	High	Medium	11/12/2025	152.10	112.64		-0.46	-25.94
MGR	Mirvac	4	Moderate	Medium	10/03/2026	1.875	1.80		0.14	-4.00
PDN	Paladin Energy	4	High	Medium	06/06/2024	11.20	11.04		1.56	-1.43
QBE	QBE Insurance	4	High	Medium	06/02/2026	20.11	20.79	0.88	-0.10	7.76
RMD	Resmed	4	Moderate	Medium	26/02/2026	35.53	32.22		-0.19	-9.32
SFR	Sandfire Resources	3	High	Medium	07/04/2025	8.32	15.73		0.06	89.06
WBC	Westpac	5	Moderate	Medium	21/02/2025	31.08	40.95	2.19	-0.45	38.80
WHC	Whitehaven Coal	4	High	Medium	15/11/2022	8.18	9.08	1.85	1.45	33.62
WOR	Worley	5	High	Medium	08/05/2023	15.66	10.63	1.20	1.48	-24.46
WTC	WiseTech Global	5	High	Medium	20/05/2025	75.52	42.68	0.16	2.92	-43.27
XRO	Xero	5	Moderate	Medium	18/07/2025	171.24	77.40		0.55	-54.80

Portfolio cash position: 8.5%

**Recent Sales** UPDATED 21/01/2026 17:00 trade now
Company code	STOCK NAME	ACTIVITY	RISK	TIME HORIZON	EXIT DATE	ENTRY PRICE ($)	CLOSE PRICE ($)	DIVIDENDS ($)	GAIN / LOSS (%)
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

12/03/2026 09:09

BHP Group Ltd (BHP) $51.96

BHP has already corrected 17% from last week's high, although it has paid a $1.03 fully franked dividend along the way. The firm iron price is supportive of this diversified miner, but it's now more of a copper play, and the lasting impacts of the Iran War could weigh on the industrial metal in the coming weeks/months.

11/03/2026 16:40

GQG Partners (GQG) $1.805

GQG -5.5%: Released February FUM numbers today which showed net outflows of $US3.2bn, however total FUM was up $US7.3bn to $US172.9bn – implying strong performance. The market clearly focussed on continuing outflows which we think is the wrong way to look at it. Performance feed’s flows, and overall FUM was up nicely with their defensive positioning starting to bear fruit, delivering good outperformance for the month.

10/03/2026 09:17

ANZ Group Ltd (ANZ) $36.78

ANZ has been a stellar performer over recent years, and although the last few days' drop has felt savage its well short of what we saw through late 2024, early 2025. We continue to like the bank but can see a further test lower in the coming weeks.

10/03/2026 09:09

Whitehaven Coal Ltd (WHC) $8.85

WHC is gaining momentum as coal prices push higher and although its ~10% below this year’s high, following its solid result last month we’re optimistic the miner through 2026. With cash generation and buybacks helping underpin the stock, and earnings highly leveraged to rising coal prices, there’s nothing not to like at present - hopefully not famous last words!

10/03/2026 09:06

Paladin Energy Ltd (PDN) $11.20

PDN recently delivered a solid result discussed in detail Here. The uranium sector is not for the faint hearted but we are bullish and believe investors can adopt a buy the dip, trim the strength approach towards PDN.

05/03/2026 09:30

Are the “short sellers” right to focus on consumer stocks?

Hedge funds have shifted their short positions away from ASX resource names that benefited from the recent commodities boom, targeting consumer-facing stocks such as Treasury Wine Estates, Domino’s Pizza and Guzman y Gomez amid concerns around weakening household spending.

05/03/2026 09:26

Whitehaven Coal (WHC) $10.34

WHC was a top 10 performer on Wednesday finishing the weak session up +1.8%. The catalyst for the gains were disruptions to Qatar LNG exports which drove a sharp jump in Newcastle coal prices. Overnight US coal stocks extended their recent strong advance and we can see more on the same on the ASX today.

05/03/2026 09:23

BHP Group Ltd (BHP) $55.68

BHP has already corrected ~$4 for the third time in less than 6-months, at this stage, we expect BHP to trade in a $55–$59 range over the coming weeks, with MM remaining in “buy the dip” mode on the Big Australian. Note: BHP trades ex-dividend this morning for 73c fully franked.

04/03/2026 09:26

Paladin Energy (PDN) $13.61

Uranium producer Paladin Energy (PDN) operates in Namibia and boasts a growth pipeline in Canada, offering clear leverage to strengthening global nuclear demand. It’s the last position in our Active Growth position whose report we need to cover, primarily as most things came in line, and the share price reaction was relatively small.

26/02/2026 17:10

Worley (WOR) $11.71

WOR -10.2%: Was eventually hit hard after a 1H result that was ahead of consensus at the EBITDA line, but raised fresh concerns around the quality of earnings and the outlook for FY26 growth. Shares opened higher but fell away as the day progressed.