Company Interview / Beating the headlines with these stocks

Key points:

Preference for diversification and smaller active bets amid geopolitical volatility Strategic tilt towards resources, infrastructure and hard-to-replicate assets Growing interest in retail REITs Scentre (ASX:SCG) and Vicinity Centres (ASX:VCX) Positive stance on Premier Investments (ASX:PMV) and Sigma Healthcare (ASX:SIG) as misunderstood value and growth stories

Heightened geopolitical risk is prompting portfolio reassessment, according to Marcus Bogdan from Blackmore Capital, who stresses that trying to trade every headline is, in his view, a mistake. Bogdan states that the core response to increased volatility is a well-diversified portfolio with only modest active tilts, rather than rapid strategy shifts. He adds that his current adjustments focus on slightly smaller active weights and broader diversification, while staying aligned with key long-term themes.

Bogdan highlights a pivot from technology and software towards hard assets, including resources and infrastructure, which he regards as difficult to replicate and strategically important in an era of energy transition, data centres, defence spending and onshore industrial capacity. He points to companies with embedded infrastructure – including assets similar to those held by Cleanaway (ASX:CWY), hospitals and shopping centres – as areas where he prefers meaningful exposure over the medium to long term.

Retail is another focus. Bogdan indicates renewed interest in retail REITs such as Scentre (ASX:SCG) and Vicinity Centres (ASX:VCX), citing high occupancy and limited new supply. Among discretionary names, he highlights Premier Investments (ASX:PMV), noting share price weakness despite strong brands and capital management. He also remains constructive on Sigma Healthcare (ASX:SIG), viewing growth from the Chemist Warehouse merger, store rollout and GLP‑1 drug demand as underappreciated.