Perpetual Equity Investment Company (PIC) Trading update summary

Portfolio snapshot and performance

• NTA per share as of 30 April 2026: $1.171 after tax, $1.174 before tax.

• Market capitalisation: $449 million; share price: $1.165.

• Annual dividend yield: 6.9% (grossed up: 9.8%).

• Portfolio returned 3.5% for April, outperforming the ASX 300 Accumulation Index by 1.2%.

• Longer-term performance lags the benchmark over 1, 3, and 5 years.

Portfolio allocation and sector exposure

• 94.7% of capital invested in securities; 5.3% in cash/fixed income.

• 76.1% allocated to Australian securities, 22.6% to global securities.

• Largest sector exposures: Materials (18.6%), Real Estate (12.7%), Financials (12.4%).

Key holdings and contributors

• Top holdings: BHP Group, Washington H. Soul Pattinson, News Corporation, Goodman Group, Cobram Estate Olives.

• Cobram Estate Olives and Goodman Group were strong contributors, driven by operational excellence and strategic developments.