Investor Insights

Last week, REA Group delivered a broadly in-line third quarter result, highlighting the resilience of its pricing power and disciplined cost management, even as listing volumes soften into the final quarter.

Woodside Energy Group Ltd (ASX: WDS) (formerly Woodside Petroleum Ltd) is Australia’s largest independent dedicated oil and gas exploration and production company.

Australian investors, engrossed in the 2025 Federal Election, may have missed a seismic shift in the global financial landscape: Warren Buffett, the legendary investor and CEO of Berkshire Hathaway, announced his retirement at the age of 94.

In this article for the Australian Financial Review, I shared some of my investment milestones throughout my 30-year career. I discussed the Australian Eagle Asset Management team’s strategy of identifying pivotal changes in businesses, highlighting successful investments in Fortescue (ASX:FMG) and Altium (ASX:ALU), as well as lessons learned from early exits like TechnologyOne (ASX:TNE).

Wesfarmers (ASX:WES) delivered a solid set of half-year results for financial year 2025, exceeding market estimates at the earnings-before-tax (EBT) level and marginally at the top line. Strong performances by Kmart and WesCEF (chemicals, energy and fertilisers) drove the positive surprise, while Bunnings met expectations. A closer look at the numbers Wesfarmers generated total revenue of $23.

From the first days of this blog, back in 2009/10, we have been writing about ARB Corporation (ASX:ARB), classifying it as one of the highest ‘A1’ quality companies listed on the ASX. Back in 2009, the share price was below $3. 00 (and many thought it was on a high price to earnings (P/E) ratio then! ).

Held in the portfolio of the Montgomery Small Companies Fund, the investment and superannuation platform provider HUB24 (ASX:HUB) has risen 116 per cent in the last 12 months. This week, the company released its results for the first half of 2025, with a lot to like.

CSL (ASX:CSL) has posted its half-year results, delivering results that are best described as mixed. At the headline level, revenue climbed around five per cent, while net profit after tax and amortisation (NPATA) also nudged upward in the low single digits.

The largest position in The Montgomery Fund portfolio, at almost eight per cent of the portfolio, is the Commonwealth Bank of Australia (ASX:CBA), purchased back when the price was below $78. This week, the company released its December-half profit results, revealing a business reinforcing and extending its competitive advantages in a fiercely competitive market.

Breville Group (ASX:BRG) is a high-quality company, profitably held in the Montgomery Small Companies Fund. Breville released its half-year earnings this week – and the numbers point to a robust underlying performance. Nevertheless, investors will debate whether the guidance for the remainder of the fiscal year is deliberately conservative or signalling a more challenging road ahead.

Nick Scali Limited (ASX:NCK), a holding in the Montgomery Small Companies Fund has released its half-year 2025 (1H25) results. Despite the mixed headline picture, Nick Scali’s 1H25 results outperformed consensus estimates. The key financial highlights are: Group revenue: Increased by 10. 8 per cent to $251. 1 million. Australia/NZ (ANZ) revenue: Declined slightly by 1.

Strong investment partnerships are built on shared values and a long-term commitment to delivering great outcomes for investors.    That’s why we are proud of our partnership with Australian Eagle Asset Management one of Australia’s top performing managers, whose Long Only Equity strategy is celebrating 20 years today.