Portfolio Update

This morning, Woodside (WDS) reported its full-year 2025 results, which were around +5% ahead of expectations. Overall, a solid result from Australia’s largest energy company. The HNW Core Portfolio holds a 4.5% weight to WDS. Key Points: Profit: Net profits of US$2,649 million, [...]

Lendlease (LLC), the formerly multinational construction and asset management company, reported its half-year results for 2026, which showed that the turnaround plan still has a way to go. The HNW Core Portfolio holds a 1% weight to LLC, the smallest position [...]

This morning, Ampol (ALD), Australia's largest energy distributor and retailer, released its full-year results for 2025, demonstrating the strength of recent refining margins and the ongoing success of convenience retailing. The HNW Core Portfolio has a 3.6% weight to ALD, with the [...]

Mineral Resources (MIN): This morning, the diversified miner and mining services company reported its half-year 2026 results, which were largely in line with market expectations, given that it gave an update in January. The HNW Core Portfolio holds a 4% [...]

QBE Insurance (QBE): The global insurer released its full-year 2025 profit results, confirming the continuation of positive trends in the insurance industry with increasing premiums, lower claims inflation and benefits from the company cleaning up the business. Overall, an excellent result [...]

Wesfarmers (WES): This morning, the last conglomerate on the ASX, presented its half-year 2026 results, demonstrating that WES's businesses are performing well, taking market share. Given current valuations, it was always going to be tough for WES’ share price to be [...]

Medibank Private (MPL): This morning, Australia's largest health insurer reported its half-year 2026 results, which showed MPL's disciplined approach to volume growth wins over the long-term. The HNW Portfolio currently holds a 2.5% weight in MPL. Key Points: Record Profits Flat: Medibank recorded [...]

Sonic Healthcare (SHL). This morning, global pathology company SHL reported their first half 2026 which were in line with our expectations but ahead of the more pessimistic sell-side analysts. The HNW Portfolio has a 3% weight to Sonic. Key Points: Record [...]

This morning, Whitehaven Coal (WHC) provided its half-year results for 2026, which were slightly below market expectations, given that it provided a trading update in late January. The HNW Portfolio currently holds a 3.8% weight in WHC.  Key Points: Profits Down: Whitehaven recorded [...]

This morning, Transurban (TCL), the Australian and North American toll road operator, delivered its first half 2026 results, which were another record result from this consistent performer. The HNW Portfolio has a 5.8% weight to TCL.  Key Points: Record Profits: Transurban reported profit [...]