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Active Growth Portfolio

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

About the Active Growth Portfolio

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
Portfolio 1m 3m 6m 1y 3y pa ITD pa*
ACTIVE GROWTH 1.65% 9.87% 7.47% 17.29% 13.79% 14.23%
ASX 200 ACCUMULATION 0.79% 9.39% 7.42% 10.64% 9.32% 9.14%
VALUE ADD +0.86% +0.48% +0.05% +6.65% +4.47% +5.09%
* Inception date 10/05/2016
Portfolio Holdings trade now
COMPANY CODE STOCK NAME WEIGHT (%) RISK TIME HORIZON ENTRY DATE ENTRY PRICE ($) LAST PRICE ($) DIVIDENDS ($) DAILY CHANGE (%) GAIN / LOSS (%)
ANZ ANZ Bank 6 Moderate Long 08/02/2023 25.29 29.40 2.29 0.48 25.31
BHP BHP Group 8 Moderate Long 27/08/2019 39.51 44.27 12.38 1.35 43.38
CTD Corporate Travel Mgmt 4 Moderate Medium 6/03/2024 16.46 16.99 0.47 3.22
EVN Evolution Mining 5 Moderate Medium 1/12/2022 2.94 3.58 0.08 1.70 24.49
GMG Goodman Group 4 High Medium 24/10/2023 21.15 33.81 0.15 1.93 60.57
ILU Iluka Resources 4 High Medium 07/02/2024 7.20 7.21 0.06 2.27 0.97
MFG Magellan 4 High Medium 6/03/2024 9.15 9.89 -0.70 8.09
MIN Mineral Resources 5 High Medium 16/03/2023 73.73 70.87 0.80 3.76 -2.79
NAB National Australia Bank 6 Moderate Medium 15/12/2022 30.33 34.64 2.39 -0.14 22.09
NSR National Storage REIT 5 Moderate Medium 11/08/2023 2.22 2.40 0.06 1.27 10.81
ORA Orora 5 Moderate Medium 31/01/2024 2.80 2.72 0.05 1.87 -1.07
PDN Paladin Energy 3 High Medium 27/02/2024 1.18 1.37 0.37 16.10
PLS Pilbara Minerals 4 High Medium 18/01/2024 3.48 3.83 2.13 10.06
RHC Ramsay Healthcare 5 Moderate Long 12/04/2023 68.86 56.51 0.36 0.43 -17.41
RMD Resmed 5 Moderate Medium 28/10/2021 33.23 30.15 0.39 0.74 -8.10
SFR Sandfire Resources 4 High Medium 18/05/2023 5.87 8.89 3.25 51.45
TWE Treasury Wine Estates 5 High Medium 20/04/2023 13.60 12.45 0.66 1.88 -3.60
WHC Whitehaven Coal 4 High Medium 15/11/2022 8.18 7.10 1.16 5.34 0.98
WOR Worley 4 High Medium 08/05/2023 15.85 16.75 0.50 0.66 8.83
XRO Xero 5 Moderate Long 02/04/2020 101.29 133.32 -0.43 31.62
Portfolio cash position: 5%
Recent Sales trade now
Company code STOCK NAME WEIGHT(%) RISK TIME HORIZON EXIT DATE ENTRY PRICE ($) CLOSE PRICE ($) DIVIDENDS ($) GAIN / LOSS (%)
LLC Lendlease 5 High Medium 6/03/2024 7.2 6.18 -14.14
ALU Altium 5 High Medium 31/01/2024 42.53 49.27 15.85
MQG Macquarie Group 6 Moderate Medium 31/01/2024 177.99 189.41 13.29 13.88
NST Northern Star 5 High Medium 18/01/2024 11.14 12.16 0.16 10.59
PDN Paladin 3 High Medium 15/01/2024 0.83 1.31 57.83
MFG Magellan Financial Group 4 High Medium 08/01/2024 9.22 9.09 0.93 8.68
WDS Woodside 4 Moderate Medium 24/10/2023 35.66 35.23 1.78 3.79
CWY Cleanaway Waste Management 5 High Medium 05/10/2023 2.69 2.34 0.02 -12.27
NCM Newcrest Mining 5 Moderate Medium 25/08/2023 29.35 25.42 2.52 -4.8
ELD Elders 3 High Medium 25/08/2023 7.11 6.47 0 -9
SEK Seek 3 High Medium 17/08/2023 24.29 23.35 0.34 -2.47
GMG GMG 5 Moderate Medium 11/08/2023 23.43 20.17 0.3 -12.63
ILU Iluka 5 Moderate Medium 21/06/2023 10.74 11.66 0.64 14.53
JHX James Hardie 4 High Medium 21/06/2023 31.2 39.89 27.85
CSL CSL Limited 4 Moderate Medium 15/06/2023 260.92 279.41 3.82 8.55
JHX James Hardie 1 High Medium 26/05/2023 31.2 37.83 21.25
XRO Xero 2 High Long 22/05/2023 92.85 108.79 0 17.16
WDS Woodside 3 Moderate Medium 08/05/2023 30.23 34.05 5.28 30.1
IGO Independence Group 3 Moderate Medium 28/04/2023 10.66 13.61 0.27 30.21
SFR Sandfire Resources 3 High Medium 20/04/2023 4.1 6.93 69.02
CSL CSL Ltd 2 Moderate Medium 20/04/2023 260.92 300.94 3.82 16.8
REA REA Group 2 High Medium 20/04/2023 120.42 140.69 1.07 17.72
ALU Altium 5 High Medium 12/04/2023 28.8 37.65 1.08 34.48
CBA Commonwealth Bank 5 Moderate Long 08/02/2023 59.88 110.4 11.9 104.24
SEK Seek 5 Moderate Medium 03/02/2023 19.86 25.55 28.65
MQG Macquarie Group 2 Moderate Medium 03/02/2023 178.3 190.89 6.34 10.61
SFR Sandfire Resources 1.07 High Medium 18/01/2023 4.1 6.15 50
HUB HUB24 4 Moderate Medium 09/01/2023 22.79 27.66 0.37 22.99
SFR Sandfire Resources 1.5 High Medium 08/12/2022 4.07 5.38 32.18
BHP BHP Group Ltd 3 Moderate Long 08/12/2022 37.4 46.42 9.02 48.23
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Opinions for stocks held in the Growth Portfolio

Ramsay Health Care Ltd (RHC) $56.27

RHC has been a huge disappointment to MM—nobody likes to get it wrong! We’re sure KKR is glad they didn't buy the business for $88 per share back in 2022, but we feel the stock is becoming increasingly attractive after its 1H24 update. Recent results demonstrated plenty of improvement in the UK/Euro business, which has been a major area of concern while the Australian business remained solid – its French business was the major stumbling block in the KKR bid.

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ResMed Inc (RMD) $29.93

RMD’s been on a wild Ozempic ride in 2023/4, but its recent ~40% bounce has restored a semblance of calm/normality to the stock. However, we shouldn't forget that RMD took an initial sharp downturn last August after an FY23 earnings miss; this weakness was compounded by demand concerns as the benefits of weight loss drugs got increasing media coverage. At some stage, we can see RMD entering a “holding pattern” as investors wait to see the difference between fact and fiction.

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Sandfire Resources Ltd (SFR) $8.43

SFR was downgraded yesterday to sell by Citi, which saw the stock fall away -5%, although it's still up almost 15% year-to-date. We cannot argue with Citi’s logic on the surface, especially as we discussed trimming our exposure above $9, but there are a few moving parts in this equation. Their central thesis was around valuation, with SFR up 20% (before Tuesday's fall) while copper had only advanced 3%, but they also lifted their copper outlook, suggesting these performance jaws could close very quickly if/when copper pushes above technical resistance around $US4.00.

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Reviewing five major stocks making fresh 52-week highs

A number of major ASX200 stocks hit fresh recent highs on Monday, led by heavyweight real estate favourite Goodman Group (GMG) – as we’ve discussed in the past, this is one particular holding we are bullish over the medium term and are “happy to let it run” – MM is long GMG in our Active Growth Portfolio. This morning, we deliberately looked at five stocks, not in MM portfolios, but it was pleasing to see Xero (XRO) and Sandfire (SFR) both continuing to deliver and joining GMG in the winner's enclosure – note we already looked at Webjet (WEB) earlier in this mornings report hence didn’t cover again.

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Corporate Travel Mgt. (CTD) $17.31

CTD advanced +1.8% on Monday, reducing its year-to-date decline to -13%; we bought the stock earlier this month following its poor result and subsequent downside rerating. We went long ~$16.50, believing the stock offers solid value for patient investors over the coming year or so through upside potential in the vast North American market, where CTD still has a market share of less than 1%. 

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Evolution Mining Ltd (EVN) $3.47

Gold and copper miner EVN popped +5.7% on Thursday, making it the 9th best performer on the ASX200. We continue to see value in EVN, and with gold making new all-time highs and copper starting to climb, we can see EVN testing $4 in the coming months, or 15% higher, as it puts its recent capital raise and production miss into the rearview mirror.

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Sandfire Resources Ltd (SFR) $8.60

Copper producer SFR is a stock we’ve discussed a few times over recent weeks after the industrial metals bullish breakout on the upside. The stock has more than doubled from its 2022 swing low after becoming the ASX's go-to copper stock following BHP's takeover of OZ Minerals (OZL).

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Goodman Group (GMG) $29.74

For the second consecutive Monday, high-flying GMG was one of the worst-performing real estate stocks; yesterday, it fell -3.6%, taking out the wooden spoon this week. The stock is still up an impressive +18.6% year-to-date, but as we saw yesterday, it’s a definite candidate for profit-taking when markets lose confidence that central banks will start cutting rates in 2024.

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Magellan Financial Group (MFG) $9.70

MGF rallied to fresh 2024 highs on Monday in an almost stealth-like manner compared to the fanfare that heralded its aggressive decline over the last 3-years. Our bullish view towards MFG has held the stock in good stead over recent months, and we have no reason to lose confidence in the stock at current levels.

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Paladin Energy Ltd (PDN) $1.245

PDN advanced +3.3% on Monday, mirroring the strong performance by US uranium names on Friday after the world’s largest Uranium producer, Kazatomprom, alluded to only a modest increase in production in the year ahead. They also echoed our bullish medium/long-term view, stressing the world will be short of Uranium by 2030.

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Actions for stocks held in the Growth Portfolio

RMD
UPDATED 28/03/2024 10:56
MM is considering switching /trimming RMD above $30
Add To Hit List
RHC
UPDATED 28/03/2024 10:55
MM is long and bullish RHC
Add To Hit List
SFR
UPDATED 27/03/2024 09:37
MM is bullish toward SFR medium-term
Add To Hit List
PDN
UPDATED 27/03/2024 09:37
MM remains bullish on the Uranium space over the medium term, remaining long PDN & SLX
Add To Hit List
CTD
UPDATED 26/03/2024 09:53
MM is long and bullish toward CTD
Add To Hit List
GMG
UPDATED 26/03/2024 09:52
MM remains long and bullish on GMG
Add To Hit List
EVN
UPDATED 25/03/2024 09:01
MM is long and bullish EVN
Add To Hit List
PDN
UPDATED 19/03/2024 09:34
MM is long and bullish towards PDN over the coming months
Add To Hit List
MFG
UPDATED 19/03/2024 09:34
MM remains bullish MFG short to medium-term
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GMG
UPDATED 19/03/2024 09:34
MM remains long and bullish on GMG
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