PC2 Gold Star. ZIP Surges. SKS DC Win.
Paper Mandate Market & Portfolio Commentary | 17 April 2026
Fund Status:
Bal Start: $1,060,638
Bought PC2
Sold: None
Bal End: $1,075,989
Cash: $300,736
Market Commentary
Trump declared a 10-day ceasefire between Israel and Lebanon, a development that removes a key obstacle to extending the broader US-Iran truce. S&P 500 and Nasdaq both closed at fresh all-time highs, though gains were relatively muted (up 0.2-0.3%) after three straight days of rallying more than 1%. Breadth was positive this time, with the Equal-weight S&P 500 (+0.46%) outperforming the cap-weighted benchmark by 20 bps, reflecting gains from sectors like Energy and Real Estate. Lithium and rare earth ETFs back near four-year highs, energy stocks bounced and software stocks on track for a big weekly uplift.
The ASX Tech index (XTX) went for a wild rise this morning before settling into a steady rhythm. Then finally ending up +1.15%. Technology as a basket of the ASX200 was up +1.20% while Consumer Discretionary fell -0.79%. Uranium stocks continue to gain ground as well as lithium names.
Portfolio Commentary
ZIP Q3 results outperformed UBS’s forecasts, 5-6% revenue beat ($332.2m). Transaction Volume (TTV) was up 43.1%. Bad debts up slightly 1.9% which was a concern but it is stable. ZIP upgraded FY26 EBITDA guidance to $260m.
SKS had an update as well. It secured a $80m extension for an existing project. Total contract value is $210m for a data centre. The data centre is in Melbourne’s West.
NWL was maintained as a buy or outperform from a variety of brokers, as well as OBM. WTC and WDS also kept their ratings from brokers.
Bought a new stock, PC Gold (PC2). It fell today and took the opportunity to take a 1% position to start. It is a $385m market cap, pre-revenue gold miner after all.
Current Portfolio
Investment Rationale
Disclaimer: This is a simulated portfolio. Content is for educational purposes only and does not constitute financial advice. Always do your own research.