Active Growth Portfolio

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

12.20% 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 31/07/2026 17:00
Portfolio	1m	6m	1y	3y pa	5y pa	ITD pa	Total
ACTIVE GROWTH	0.19%	5.66%	4.45%	6.45%	7.96%	12.20%	224.40%
ASX 200 ACCUMULATION	2.26%	2.86%	6.01%	10.40%	8.01%	9.37%	149.80%
VALUE ADD	(2.07%)	+2.80%	(1.56%)	(3.95%)	(0.05%)	+2.83%	+74.60%

* 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	65.07	1.84	-0.29	-3.37
ANZ	ANZ Bank	6	Moderate	Long	08/02/2023	25.29	36.46	7.65	-1.33	74.42
BHP	BHP Group	8.5	Moderate	Long	27/08/2019	39.06	66.40	11.61	-1.48	99.72
EVN	Evolution Mining	4	High	Medium	23/03/2026	12.24	15.68		-1.38	28.10
GMG	Goodman Group	5	Moderate	Medium	21/02/2025	34.16	28.02	0.30	-0.71	-17.10
GQG	GQG Partners	5	High	Medium	08/08/2025	1.75	1.34	0.18	-3.61	-13.14
HUB	HUB24	4	High	Moderate	08/07/2026	82.01	76.05		-2.50	-7.27
LNW	Light & Wonder	4	High	Medium	11/12/2025	143.35	128.17		-1.07	-10.59
MGR	Mirvac	4	Moderate	Medium	10/03/2026	1.875	1.82	0.05	-1.62	-0.27
PDN	Paladin Energy	4	High	Medium	06/06/2024	11.20	12.08		-3.90	7.86
PLS	PLS Group	3	High	Medium	20/08/2026	4.83	5.15		-2.65	6.63
PME	Pro Medicus	4	High	Medium	02/06/2026	156.72	179.24		-2.90	14.37
REH	Reece	4	High	Medium	25/06/2026	16.74	16.73		-0.48	-0.06
S32	South32	4	Medium	Medium	18/06/2026	4.27	5.21		1.36	22.01
SFR	Sandfire Resources	4	High	Medium	07/04/2025	8.90	23.27		-3.64	161.46
WBC	Westpac	5	Moderate	Medium	21/02/2025	31.08	33.68	3.29	-0.44	18.95
WHC	Whitehaven Coal	4	High	Medium	15/11/2022	8.18	8.12	1.85	0.62	21.88
WOR	Worley	5	Moderate	Medium	08/05/2023	15.66	10.12	1.20	2.22	-27.71
WTC	WiseTech Global	5	High	Medium	20/05/2025	75.52	39.55	0.16	-3.28	-47.42
XRO	Xero	5	Moderate	Medium	18/07/2025	140.93	81.73		-2.60	-42.01

Portfolio cash position: 8.5%

**Recent Sales** UPDATED 18/08/2026 17:00 trade now
Company code	STOCK NAME	ACTIVITY	RISK	TIME HORIZON	EXIT DATE	ENTRY PRICE ($)	CLOSE PRICE ($)	DIVIDENDS ($)	GAIN / LOSS (%)
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

27/08/2026 17:51

South32 (ASX: S32): $5.21

S32 +1.36%: Put together a better-than-expected FY26 result, with EBITDA comfortably ahead of consensus, margins expanding and shareholder returns stepping higher.

26/08/2026 17:19

Worley (ASX: WOR) $9.90

WOR -10.81%: FY26 numbers were broadly around the mark operationally, but management guided to only mid-to-high single-digit revenue and EBITA growth in FY27, well short of the ~15% growth embedded in consensus expectations. Add questions around backlog conversion, disruption in the Middle East and it was easy to see why the shares took a hit to reset expectations.

26/08/2026 17:18

Sandfire Resources (ASX: SFR) $24.15

SFR +6.01%: Capped off a strong FY26 with earnings more than tripling as stronger copper production, pricing and operating performance flowed through the business - the share price today helped by a strong move in Copper overnight.

25/08/2026 09:27

Paladin Energy Ltd (PDN) $11.70

It hasn’t felt like it at times, but PDN has outperformed the uranium miner cohort YTD (+22% vs. URNM +3%), with gains driven by solid operational execution. While much of the volatility has tracked uranium sentiment, PDN has benefited from company-specific catalysts, particularly the ramp-up of its Langer Heinrich mine. A strong January production update, where output beat expectations by ~22%, helped kick-start the rally, while higher uranium prices and an upgrade to FY26 production guidance subsequently drove PDN to a YTD high in April.

24/08/2026 16:34

PLS Group (ASX: PLS) $5.47

PLS: +7.89%: Came out with a strong set of FY26 numbers, highlighting an ongoing earnings recovery as higher lithium volumes and an improved operating base drove earnings (EBITDA) above A$1bn, although net profit (NPAT) fell short of consensus.

24/08/2026 16:32

Reece (ASX:REH) $16.90

Reece (REH) +2.18%: delivered a mixed FY26 result, with a solid recovery in Australia and New Zealand offset by ongoing weakness in the US housing market. The volatility in the share price intra-day, showed some indecision, but overall, we think the evidence over the cautious rhetoric from management is what we should really take on board;

21/08/2026 17:01

GQG Partners (ASX: GQG) $1.42

GQG -4.36%: delivered a respectable 1H26 result in the face of significant fund outflows, with earnings proving more resilient than the headline FUM movements would suggest.

20/08/2026 16:43

Goodman Group (ASX: GMG) $28.78

GMG –1.51%: delivered a clean FY26 result broadly in line with expectations. We liked the result though the share price reaction implies the market might have been looking for a little bit more on the growth in FY27 above the 9% guided to by Goodman.

20/08/2026 09:43

Portfolio Amendment – Active Growth

We are making changes to the Active Growth Portfolio today.

19/08/2026 17:35

Evolution Mining (ASX:EVN) $13.68

EVN +0.22%: Delivered another year of record earnings and cash generation, but the result was more mixed against expectations than the headline growth rates suggest. The stock took a hit early as key earnings metrics missed consensus, before clawing its way back to positive territory.