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 30/04/2026 17:00
Portfolio	1m	6m	1y	3y pa	5y pa	ITD pa	Total
ACTIVE GROWTH	2.05%	-2.17%	13.33%	7.67%	9.12%	12.43%	221.6%
ASX 200 ACCUMULATION	2.18%	-0.87	10.12%	9.66%	8.36%	9.17%	139.8%
VALUE ADD	(0.13%)	(1.30%)	+3.21%	(1.99%)	+0.76%	+3.26%	+81.8%

* 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	55.21	0.93	0.88	-18.92
ANZ	ANZ Bank	6	Moderate	Long	08/02/2023	25.29	36.82	6.56	-1.43	71.53
APA	APA Group	4	Moderate	Medium	12/12/2024	7.38	10.34	0.54	-1.80	47.43
BHP	BHP Group	8.5	Moderate	Long	27/08/2019	39.06	57.21	11.61	-2.24	76.19
EVN	Evolution Mining	4	High	Medium	19/01/2026	12.24	12.95		-1.18	5.80
GMG	Goodman Group	5	Moderate	Medium	21/02/2025	34.16	30.21	0.30	-2.09	-10.69
GQG	GQG Partners	5	Moderate	Medium	08/08/2025	1.75	1.66	0.07	-2.35	-1.14
JBH	JB Hi Fi	5	Moderate	Medium	26/02/2026	81.25	73.88	3.00	-0.80	-5.38
JHX	James Hardie Industries	5	High	Medium	12/12/2024	51.22	28.53		-1.89	-44.30
LNW	Light & Wonder	4	High	Medium	11/12/2025	143.35	110.35		7.49	-23.02
MGR	Mirvac	4	Moderate	Medium	10/03/2026	1.875	1.71		-1.87	-8.80
PDN	Paladin Energy	4	High	Medium	06/06/2024	11.20	12.71		-1.82	13.48
QBE	QBE Insurance	4	High	Medium	06/02/2026	20.11	22.19	0.88	-2.05	14.72
RMD	Resmed	4	Moderate	Medium	26/02/2026	35.53	28.61		-0.75	-19.48
SFR	Sandfire Resources	4	High	Medium	07/04/2025	8.90	17.52		-2.26	96.85
WBC	Westpac	5	Moderate	Medium	21/02/2025	31.08	37.80	2.19	-3.93	28.67
WHC	Whitehaven Coal	4	High	Medium	15/11/2022	8.18	7.95	1.85	-1.97	19.80
WOR	Worley	5	High	Medium	08/05/2023	15.66	12.13	1.20	-1.34	-14.88
WTC	WiseTech Global	5	High	Medium	20/05/2025	75.52	43.34	0.16	-2.21	-42.40
XRO	Xero	5	Moderate	Medium	18/07/2025	140.93	84.59		0.59	-39.98

Portfolio cash position: 5.5%

**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

07/05/2026 17:16

Light and Wonder (ASX:LNW) $102.66

LNW -8.34% was hit today, down as much as 12.5% at the lows after delivering a mixed March-quarter update, with revenue and earnings missing expectations, though margins held up better than feared and management reiterated confidence in the FY26 growth profile.

07/05/2026 09:24

Amcor (ASX:AMC) $52.70

Amcor rallied strongly in the US, up as much as 8.9%, after delivering a third-quarter result that was broadly in line for earnings, but the top line (revenue) was better, while importantly, its downgraded full-year guidance was not as bad as the market had feared.

07/05/2026 09:12

BHP Group Ltd (ASX:BHP) $56.39

The worlds largest miner is rarely far away from MM’s notes, and we last looked at it a few months ago, Here after its solid March quarter trading update. With iron ore trading above $US110, and Cu looking increasingly strong, BHP is in a great position to surprise on the upside, and we see no reason to reduce our position (s) at this stage.

06/05/2026 17:00

JB Hi-Fi (JBH) $72.98

JBH -6.28%: was hit today after its March quarter update missed expectations, with the Australian business delivering positive but underwhelming comparable sales growth. The result was not bad in absolute terms, JB Australia and The Good Guys are still growing in a tougher retail backdrop, but the market was positioned for better, particularly given the stock’s recent bounce from the lows. The bigger concern for us was around margin pressure, with management calling out supplier cost inflation, stock shortages and heightened competition across technology categories going into an important sales period pre-June 30.

04/05/2026 09:19

Copper ($US/MT)

Copper has been one of the standout commodities through 2025/26, rallying to record highs early in this year before pulling back on Iran-related economic uncertainty, with prices stabilising around $US13,000/MT—only modestly below pre-conflict levels.

30/04/2026 09:48

APA Group (APA) $10.19

We discussed APA in detail in both March Here while also touching on its stable income stream for our income portfolio in April Here. This is a business that’s turned itself around nicely over the last year, allaying the markets concern around the sustainability of their dividend. We had originally targeted a move to $10, but the stock continues to screen well, supported by a strong yield.

28/04/2026 16:51

Whitehaven Coal (ASX:WHC) $8.00

WHC +3.9%: delivered a solid March-quarter operational update, with production and sales trending higher and the company tracking toward the upper end of FY26 guidance.

22/04/2026 17:33

BHP group (ASX: BHP) $56.17

BHP +1.2%: traded higher after a solid March quarter from an operational perspective, while they also came to terms with China’s state-backed buyer, China Mineral Resources Group for the sale of Iron Ore – something that had been hanging over the stock.

21/04/2026 09:22

Goodman Group (ASX:GMG) $29.82

GMG, one of the world's largest industrial property companies, has made one of the most significant strategic pivots on the ASX, transforming from a logistics and warehouse landlord into a major force in global DC development. Data centres now account for almost 70% of Goodman's total development work-in-progress of $12.4 billion, with that figure projected to grow to over $17.5 billion by June 2026, anchored by a secured pipeline of 1.8 gigawatts across power-constrained metro locations in Sydney, Tokyo, Paris, Frankfurt, Los Angeles and Hong Kong.

17/04/2026 16:53

Paladin Energy (PDN) $14.54

PDN +2.76%: Provided a solid update today, upgrading FY26 production guidance, with the company flagging stronger output from the Langer Heinrich mine as operations continue to ramp up.