A Shariah-compliant ASX portfolio combining AAOIFI screening, Buffett moat thinking, Lynch valuation discipline, O'Neil technical precision, and Gillham risk management.
LIVE PORTFOLIO$100,000 invested Jan 2026 (fund inception)
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Active Positions
8
+1 watchlist pending
Strategy CAGR (2020)
~10.4%
vs 8.3% ASX 200
Stop Loss Rule
15%
Below entry price
Max Position Size
20%
Buffett / Gillham rule
Investment Layers
6
Screens + tactics
The Six-Layer System
☾
Layer 1 — Shariah Screen
AAOIFI/Zoya. Hard filter. No exceptions.
◆
Layer 2 — Moat Checklist BUFFETT
Durable competitive advantage required.
↗
Layer 3 — PEG Valuation LYNCH
Buy growth at a reasonable price. PEG <1.5 preferred.
∞
Layer 4 — Revenue Quality DOUGLASS
Recurring vs cyclical. Different rules for each.
◇
Layer 5 — Gillham Selection
5–12 blue chips. Max 20%. Top 20 anchored.
↑
Layer 6 — Gillham Tactics
Stop loss 15%. Trend entry/exit. Monthly close signals.
Sector Allocation
Materials 45%
Healthcare 21%
REIT 18%
ETF
Watch
Revenue Type Split — Recurring dominant
Recurring 59% (PME,RMD,GMG,ISLM)
Cyclical 35% (BHP,RIO,FMG)
Watchlist 6%
Lynch Story Tests
BHP — "The world needs copper for EVs and iron ore for everything. BHP digs it better than anyone."
GMG — "Every Amazon package and data centre needs a warehouse. Goodman builds them globally."
PME — "Radiologists switching to Visage 7 never switch back. Sticky contracts, recurring SaaS."
EDU — "Australia keeps letting in international students. EDU Holdings runs the colleges they attend."
Disclaimer: For wholesale investor information only. Not a PDS. Past performance is not indicative of future returns. All Shariah compliance status subject to quarterly review. Not financial advice.
Holdings
The Portfolio
9 positions. All Zoya-verified AAOIFI compliant. Each must pass the moat checklist, PEG screen, and revenue quality classification before inclusion.
⚡
Portfolio Revised — March 2026
COH exited — confirmed monthly close downtrend triggered Gillham exit rule. Moat intact; re-entry possible on uptrend reversal. FMG reduced from 10% → 5% — $2.1B green hydrogen losses, declining earnings, consensus analyst downside. GMG +3%, RMD +3% — freed capital redeployed to highest-conviction recurring revenue holdings. 6% watchlist pending scanner output for new candidate.
Code
Company
Revenue Type
Moat
Story
Alloc
$100k
Status
BHP
BHP Group
Global mining — iron ore, copper, potash
Cyclical
Scale / Cost
World's largest miner. Copper demand structural.
20%
$20,000
✓ Hold
RIO
Rio Tinto
Diversified miner — iron, aluminium, copper
Cyclical
Scale / Cost
Tier-1 assets, decades of reserves.
20%
$20,000
✓ Hold
GMG
Goodman Group
Industrial REIT — logistics, data centres
Recurring
Network / Location
eCommerce + AI data centres. Irreplaceable sites.
18%
$18,000
▲ +3%
RMD
ResMed
Sleep/respiratory devices + SaaS platform
Recurring
Switching Cost
Device + cloud subscription. Global sleep apnea crisis.
13%
$13,000
▲ +3%
PME
Pro Medicus
Medical imaging SaaS — Visage 7
Recurring
Switching Cost
Hospitals don't switch PACS systems. Ever.
8%
$8,000
⚠ Watch PEG
FMG
Fortescue Ltd
Iron ore — green energy pivoting
Cyclical
Cost / Scale
Reduced. $2.1B H2 losses, declining earnings.
5%
$5,000
▼ -5%
ISLM
Hejaz Equities ETF
Global halal equity diversification
Recurring
Diversified
ASX-listed global halal ETF. AUD denominated.
6%
$6,000
✓ Hold
EDU
EDU Holdings
Education services — international students
Semi-recurring
Regulatory / Niche
Structural tailwind from international student flows.
4%
$4,000
✓ Hold
COH
Cochlear — EXITED
Monthly downtrend signal — Gillham exit rule triggered
Recurring
Brand / IP
Great moat. Bad chart. Re-enter on uptrend reversal.
PME, RMD, GMG, ISLM — contract/subscription-based. Revenue is predictable and compounds.
Rules: Hold through minor pullbacks. Exit only on confirmed monthly downtrend OR fundamental change. Stop loss: 15%.
⚡ Cyclical Holdings
BHP, RIO, FMG — commodity price dependent. Require more active management.
Rules: Tighter trend monitoring. Exit faster on downtrend. Watch commodity cycles, not just charts.
Live Performance
LIVE ASX PRICES
$100k Invested
Live prices via Yahoo Finance. Choose your inception date — see exactly where your $100k would sit today. Capital value only; dividends excluded.
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VIEW MODE:
Every decision. Dated. Reasoned. Public.
A verified record of every portfolio move since inception. Updated each time a trade is made. This is the accountability layer — the same discipline we preach, applied to ourselves.
Gillham Layer 6 — hard stop loss rule executed. PME's moat (hospital switching costs) remains fully intact. Exit is purely technical: confirmed price breach of the 15% stop threshold. Cash held. Re-entry requires confirmed monthly uptrend reversal. Passive hold would be −39.6% vs system exit at −15% — $1,970 preserved per $8k invested.
March 2026
Mar 2026
COHEXITCochlear
Full exit · Confirmed monthly downtrend · Position closed
Gillham Layer 6 — two consecutive lower monthly closes below trendline triggered the exit rule. COH's moat (40 years of cochlear IP, 50% global market share) is unaffected — this is a chart exit, not a business exit. PEG was already flagged at 2.9. Re-entry on confirmed uptrend reversal.
Highest-conviction recurring revenue holding. eCommerce and AI data centre demand structural and accelerating. GMG's irreplaceable global logistics sites represent a network moat that compounds. Revenue quality (recurring contracts) justifies increased weighting under Douglass rules.
Device + cloud subscription moat strengthening. Global sleep apnea crisis is a structural tailwind. Switching cost moat (clinicians and hospitals locked into AirView platform) makes revenue highly recurring and predictable. PEG 1.4 remains in buy zone. Increased alongside GMG as part of recurring revenue tilt.
All 8 positions passed the full 6-layer system: Shariah screen (Zoya/AAOIFI), moat checklist, PEG screen, revenue quality classification, Gillham selection criteria, and confirmed uptrend entry signal. COH was included at inception. Stop losses set at 15% below each entry price on day of purchase.
All trade entries are recorded at time of decision. Prices shown are approximate entry/exit prices at time of execution. This log is maintained for transparency and accountability — it is not audited financial reporting.
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Invested
$100,000
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Current Value
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Capital value (ex-dividends)
Total Return
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Ann. Return
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Code
Company
Invested
Entry Price
Current Price
Shares
Current Value
Return
Portfolio Composition — Invested vs Current Value per Holding
The passive halal index underperforms the conventional ASX 200 by ~1.4% p.a. (structural exclusion of banks). Taqwa Ticker's active system recovers this gap and adds a further ~1.5% p.a. active premium. Applying Gillham's full tactical rules is estimated to add a further 5–15% total return.
Live prices sourced from Yahoo Finance via a serverless proxy. Capital values only — dividends not included. Historical figures are approximate. Past performance is not indicative of future results. Not financial advice.
Investment System
The Complete System
Six layers. Built from the world's best investors. Applied to a Shariah-compliant ASX universe. Every rule has a source, a rationale, and a specific implementation.
Gillham Tactical Rules
01
Position Sizing
Max 20% Per Position
No single stock can exceed 20% of the total portfolio. Prevents any one position from causing irreparable damage regardless of conviction. If a holding appreciates above 20%, trim and redeploy.
Rule: Monitor monthly. Rebalance if any position grows to 22%+. Proceeds go to underweight positions within buy zone.
02
Risk Management
15% Stop Loss
Every entry has a hard stop loss 15% below purchase price. Non-negotiable. The 2020 COVID crash is the case study — January 2020 entries with stops would have exited before the 35% drawdown.
Rule: Set stop on day of entry. Never move it lower. A triggered stop is the system working. Re-enter on confirmed uptrend.
03
Entry Signal
Confirmed Uptrend Entry
Never buy a falling stock hoping for a bottom. Only enter when weekly or monthly close shows confirmed higher highs and higher lows. For cyclicals also check the commodity cycle direction.
Rule: Monthly chart for direction. Weekly close for timing. Never buy on daily noise. Cup-with-handle base (O'Neil) is ideal entry signal.
04
Exit Signal
Confirmed Downtrend Exit
Exit when the monthly close pattern confirms a downtrend — lower highs and lower lows — regardless of whether the stop has been hit. Recurring revenue stocks get more patience. Cyclicals exit faster.
Rule: Review monthly charts on first trading day of each month. Two consecutive lower monthly closes below trendline = exit signal.
The Three Upgrades — From The Masters
UPGRADE 01
Moat Checklist
SOURCE: Warren Buffett / Charlie Munger — Berkshire Hathaway
Before any stock enters the fund, it must have a durable competitive advantage that will protect it for 10+ years. Four moat types: switching costs, scale/cost advantage, brand/IP, network effects.
IMPLEMENTATION
5-question checklist: (1) Repeat customers who can't easily leave? (2) Charge more than competitors? (3) Gets cheaper as it grows? (4) Irreplaceable assets? (5) Dominant brand? At least 3 of 5: YES required.
UPGRADE 02
PEG Ratio Screen
SOURCE: Peter Lynch — Fidelity Magellan Fund (29% avg return, 13 years)
PEG ratio normalises valuation for growth. A stock at 40x PE growing at 40% is cheaper than a stock at 15x PE growing at 5%. Buy zone below 1.5. Hold zone 1.5–2.5. Review above 2.5.
IMPLEMENTATION
Calculate PEG on every entry using trailing 12-month EPS and 3-year average growth rate. Review all PEGs quarterly. PME sits review territory (PEG 3.0) — exceptional moat strength compensates.
UPGRADE 03
Revenue Quality Split
SOURCE: Hamish Douglass — Magellan Financial Group (peak $120B AUM)
Every holding classified as either Recurring or Cyclical. Each type has different holding rules, exit triggers, and position sizing maximums.
IMPLEMENTATION
Recurring (PME, RMD, GMG, ISLM): hold through volatility unless fundamental change. Cyclical (BHP, RIO, FMG): active trend monitoring, faster exits on downtrend, reduce in late commodity cycles.
Passive Hold vs Full System — 2020 Scenario
PASSIVE HOLD (NO RULES)
~$177k
Buy Jan 2020. No stops. No exits. Rode the COVID crash -35% and waited for recovery.
FULL 6-LAYER SYSTEM (EST.)
~$195–210k
Stops triggered Feb 2020. Preserved ~85% capital. Re-entered May–Jun 2020 at lower prices. Exited COH on monthly downtrend signal 2021.
Estimated active premium: +$18,000–$33,000 over 6 years on a $100k portfolio. Most of the edge is in risk management, not stock selection.
Intellectual Foundation
The Masters
Every rule in our system traces back to a proven investor. We synthesised the best of all frameworks into a Shariah-compliant structure.
Warren Buffett & Charlie Munger
Berkshire Hathaway — ~20% avg CAGR over 58 years
Layer 2
Buffett: "If I were running $50–200M, I would have 80% in five positions, with 25% for the largest." Munger: "If you can buy a few great companies, you can sit on your ass."
What they gave us: The moat checklist. Concentration philosophy. The idea that 9 well-researched positions is safer than 30 poorly-researched ones.
Peter Lynch
Fidelity Magellan — 29% avg return over 13 years
Layer 3
Managed $20M → $14B. Invented the PEG ratio. Championed the "tenbagger" — holding through multiple growth stages.
What he gave us: PEG ratio valuation. The "know your story" test. The tenbagger mindset applied to PME.
William O'Neil
CAN SLIM — #1 strategy 1998–2009 (AAII)
Layer 6
CAN SLIM combines fundamental quality with technical precision. Only buys during confirmed uptrends.
What he gave us: Cup-with-handle entry trigger. Market direction filter. The 8% hard stop principle (adapted to 15% for ASX).
Hamish Douglass — Magellan
Peak AUM $120B — Australia's best global manager
Layer 4
Built Magellan around high-quality recurring revenue businesses. His cautionary tale: failed to exit Alibaba on downtrend. Had he used Gillham's monthly close exit rule, Magellan's 2022 unwind would have been avoided.
What he gave us: Revenue quality classification. Different rules for recurring vs cyclical.
Dale Gillham
Wealth Within — 25+ years ASX expertise
Layers 5+6
Author of "How to Beat the Managed Funds by 20%" and "Accelerate Your Wealth." Core framework: blue chip selection, 5–12 stocks, max 20%, trend-based entries, hard 15% stop losses.
What he gave us: The core tactical framework. The philosophical foundation that most of the edge is in risk management, not stock picking.
SP Funds (US)
SPUS — $2B AUM, top halal ETF globally
Layer 1
Proved that Shariah screening is a quality filter — removing over-leveraged banks, casinos, and alcohol companies leaves a naturally higher-quality, lower-debt universe. SPUS has outperformed the S&P 500 in multiple periods.
What they gave us: The proof that halal and alpha are compatible.
Every principle graded A. The system is complete. Further refinement comes from execution discipline, not adding more rules.
About This Fund
Built for Australian Muslim Investors
Taqwa Ticker is Australia's first active Shariah-compliant equity fund — applying the synthesised wisdom of the world's greatest investors to a fully AAOIFI-screened ASX portfolio.
The Problem We Solve
Most Australian Muslim investors' wealth sits in conventional savings accounts, superannuation funds invested in interest-bearing assets, or simply in cash — because the halal investing landscape in Australia offered very little until now.
The passive halal index underperforms the conventional ASX 200 by ~1.4% p.a. due to excluding banks. Active stock picking with our 6-layer system closes that gap and adds alpha.
Fund Structure
StructureManaged Fund (Unit Trust)
LicenceCAR (AFSL)
Compliance StandardAAOIFI / Zoya
Target InvestorsWholesale (launch phase)
Compliance ReviewQuarterly
Target CAGR10%+ p.a.
Methodology Sources
📚 Dale Gillham — "How to Beat the Managed Funds by 20%" & "Accelerate Your Wealth." Tactical framework, position sizing, stop loss and trend rules.
Live portfolio trackingReal-time ASX prices. Anyone can see where a $100k investment stands today.
✓
Shariah as alpha, not just complianceThe AAOIFI filter removes over-leveraged, low-quality businesses — independently improving portfolio quality.
General Disclaimer: Taqwa Ticker is a proposed fund structure in pre-launch phase. This document is intended for wholesale investors only. It does not constitute a Product Disclosure Statement (PDS) or financial product advice. Historical performance figures are hypothetical based on approximate market data. They do not represent actual fund returns. Shariah compliance status is subject to quarterly review. All investment involves risk including loss of capital. Past performance is not indicative of future results. Consult a licensed financial adviser before making any investment decision.