Materials Drag Down ASX. Top Tech Names; 360 & MP1 Supercharge Portfolio.
Paper Mandate Market & Portfolio Commentary | 19 June 2026
Fund Status:
Bal Start: $1,186,495
Bought None
Sold: MP1
Bal End: $1,213,960
Cash: $127,839
Overnight Markets
Markets were mixed overnight. While the S&P500 was up +1.08%, there was a 50/50 split of top and bottom performing sectors. Tech charged ahead +2.68%, with notable gains from Micron (+8.7%), AMD (+4.8%), Broadcom (+4.7%) and Nvidia (+2.9%), though SpaceX fell -3.5%. At the bottom of the pile, Energy (-1.73%) driven by the oil price dropping, and Financials (-0.91%) driven by Kevin Warsh’s hawkish first meeting. Small caps gained over large caps with the Russell 2000 up +2.12%. Some other interesting news: Moderna’s mRNA-based flu vaccine for 50+ has been recommended by an advisory FDA committee. Still pending an agency review.
Australian Market
The ASX 300 finished the session down to end the week down -0.90%. Healthcare was the star sector, rallying +3.51%. Led by CSL +7.6%, and 4DMedical +17.6%. Defensive sector Staples provided +1.27% to buffer the losses of Materials, which tanked -4.03%, driven by all the household names; BHP -5.60%, RIO -3.12%, FMG -1.10%, NST -2.93%, EVN -5.07%, PLS -4.70% (take your pick).
Portfolio Commentary
The portfolio was immensely resilient today, generating +2.3%. This is after trimming 1% of MP1 from the portfolio. The stock increased +1.0% which pushed it above a 12% weight in the portfolio. Most of the alpha was driven by a +1.48% rally in our Technology holdings. Life360 led the portfolio, +6.19%, while SHA added +5.26%. The a sharp turnaround in GDG, (+4.78%) and HMC (+2.01%), insulated the portfolio from the pain in Materials (-4.14%), where our gold positions Ora Banda and PC Gold suffered a post-Fed profit-taking, sliding -5.81% and -4.40% respectively
Investment Activity
Disclaimer: This is a paper portfolio. Content is for educational purposes only and does not constitute financial advice. Always do your own research.