Tech Heavyweights Xero & Life360 Anchor Portfolio Amid Flat Index

Paper Mandate Market & Portfolio Commentary | 6 July 2026

Fund Status:

• Bal Start: $1,167,252

• Bought None

• Sold: None

• Bal End: $1,160,366

• Cash: $152,418

Overnight Markets

As mentioned last week, US markets were closed to observe Independence Day. Asian markets, however, showed strength with the Nikkei, and Hang Seng posting small single digits. Gold gained ground and oil continues to fall as more oil passes through the Strait. Canada also announced a new oil pipeline to Asia. Likely progressing with their goal for energy independence from the US. In other news, Christine Lagarde, president of the ECB and former French Finance Minister, is considering leaving the ECB to pursue the French Presidency.

Australian Market

The ASX200 lost ground by -0.28%. Healthcare led, advancing +1.5%. Household name CSL rallied nearly +2.0%, showing renewed strength. Technology (+0.93%) had a minor gain. Notably XRO (+1.8%) and 360 (+1.2%) inched higher. Utilities (-0.8%) and Materials (-0.6%) were the worst performing.

Portfolio Commentary

The portfolio fell -0.59%, underperforming the ASX 300’s -0.14% slip. The primary culprit came from Materials, where PC2 and OBM fell -3.77%, and -1.26% respectively. Following the gold index down. JBH faced selling pressure, dropping -1.98%, along with CBO losing -2.68%. Our largest weight MP1, fell again slightly by -1.77%. We will need to trim this position more.

On the positive side, XRO gained +1.81%, 360 rose +1.20%, and NWL rallied +1.15%. Pleasingly JDO continued its recovery, bouncing +1.71%. Cash reserves sit at 13%, slightly higher than preferred, but well positioned to capitalize on oversold movements throughout the week.

Investment Activity

None

Disclaimer: This is a paper portfolio. Content is for educational purposes only and does not constitute financial advice. Always do your own research.