from our members
Trent
“Solid back to back returns with QAV hitting 21% this year for me. Once again surprised at how much divis made up of return which was boosted this year due to capital returns and special dividends. Over the FY I have held 26 Stocks and 15 have positively contributed to overall return. Biggest rule break of year was partial selling some winners, which has negatively impacted return as both are now higher than where I sold.”
July 1, 2025
Matt
“I’m vaguely in the ballpark of 22%. Bit hard to calculate as I’ve been adding cash into the portfolio throughout the year.
Looks like everyone is very happy with PRN 🙂
Currently holding BOL, LAU, MAH, MME, PGH, PPM, PRN, SMR, KSL.
Very little trading in the last 6 months as everything has been sitting up above 3PTLs/rule 1.”
9 July 2025
Darryl
“Good returns for me in this 24–24FY of 21.6%. Divs & Capital Returns (PPM & HLS) accounted for 2.5%. Makes a good change from last year which was pretty flat for me.
Biggest gains
- RRL 110%
- PRN 59
- GNP 57%”
4 July 2025
Michael
“Good year following on from a good year last year 33.4%. 9 stocks. Biggest contributors:
JBH 91.8%
RIC 47.3%
NCK 37.3%
QBE 37.6%
PRN 27.5%”
1 July 2025
Brendan
“Just upgraded from light to Club. Been a Light member since 2022.
My portfolio was slowly tracking upwards through 23,’24, but this year, since March, it’s screaming ahead, currently showing a 61.48% return. I use QAV Light for the majority of my investing; however, I also DCA into the S&P 500, and hold a few mag 7 stocks, which I owned before signing up to QAV.
The Majority of my return has come from QAV Light stocks, which make up roughly 65%, compared to 35% from others.”
18 September 2025
Geoff
“Portfolio hovering around 90% return. Has 4 stocks over 100%, with MLX in particular just over 200%. Been using QAV since maybe 2022 (maybe longer). In early years, portfolio was “banging around the ‘sleazy wine bar’ end of the market” with very average performance, at one stage down to 5%. This year seeing “the shiny end.” Doesn’t review annual reports, sometimes checks ASX announcements, follows the system and regularly updates 10% rule 1’s.”
October 6, 2025
Check out a recent episode but if you’re brand new, we recommend scrolling down to listen to our introduction episode, where you can learn more about Tony Kynaston and his QAV system.
RECENT PODCASTS
Boring Stocks, Bonkers Returns: QAV AU #926
On this week’s show we wrap up the financial year and the numbers are, frankly, bonkers: the AU model portfolio is up nearly 29% for the year, the Light portfolios are up nearly 36% as a group, and the US model is up 44% against a 20% S&P. Tony then does a Pulled Pork on EVZ Limited, a small engineering fabricator that has gone from 16 cents to 65 cents in 12 months and just landed on the buy list. We also get into the warning signs stacking up on Wall Street, from margin loans up 50% to the Bank of International Settlements calling out AI data centre spending as a potential GFC-style meltdown risk.
OIL THAT: QAV AU #925
This week we cover the Iran oil sanctions waiver and what it means for the oil price, plus debrief on selling our oil stocks (Karoon, Viva Energy, Brookside) ahead of what turned out to be a nasty drop. Tony does a Pulled Pork on ASX-listed labour hire and training firm Ashley Services Group (ASH), a thinly traded turnaround story with a strong owner-founder and a QAV score of 0.24. We also note the passing of Alan Greenspan, the Credit Corp / Humm deal falling apart, and end-of-financial-year portfolio numbers that have the dummy portfolio well ahead of the index.
Major Feelgood: QAV AU #924
On this week’s show, we wade through a big news cycle: the US-Iran peace deal that forced us to dump our oil stocks, the SpaceX IPO trading at a jaw-dropping 1,750 times PROPCAF while losing money, and the brief Korean stock market circuit breaker that felt a little too dotcom-era for comfort. Tony does a Pulled Pork on Suncorp Group, freshly returned to the buy list after divesting its banking arm to ANZ, and I run the numbers on the Dogs of the Dow versus QAV over five years.
LISTEN NOW
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Click here to watch a short video introduction or listen to our introduction episode below, which give a background on Tony and his scientific approach to value investing.
our portfolio
When we started the QAV podcast back in 2019, we created a fully transparent dummy portfolio so our audience can see how our system for value investing works in real-time.
Since inception, the portfolio has significantly outperformed the benchmark. The graph shows the relative performance (CAGR) of our portfolio (green) vs the benchmark (blue).
our portfolio
Since inception, the portfolio has significantly outperformed the benchmark ASX 200. The graph shows the relative CAGR performance of our portfolio (green) vs the ASX 200 (blue).
meet your hosts
TK (on the right): The nicest rich guy you’ll ever meet, Tony Kynaston is a multi-millionaire professional value investor who lives in Sydney. Thanks to the QAV investing checklist system he developed, the average return on his portfolio over the last 30 years has been double market (after tax and costs have been deducted). When he’s not investing, he’s obsessed with playing golf, breeding horses, reading, and spending time with friends and family.
CR (the other one): Cameron Reilly is Tony’s 50+ year old student and the producer of the show. He was Australia’s first podcaster, has made a documentary, and has written a few books. He lives in Brisbane. When not training to become a value investing black belt, he spends his time making history podcasts, playing chess, practising Wing Chun, learning Italian, and spending time with his family.
meet your hosts
TK (on the right): The nicest rich guy you’ll ever meet, Tony Kynaston is a multi-millionaire professional value investor who lives in Sydney. Thanks to the QAV investing checklist system he developed, the average return on his portfolio over the last 30 years has been double market (after tax and costs have been deducted). When he’s not investing, he’s obsessed with playing golf, breeding horses, reading, and spending time with friends and family.
CR (the other one): Cameron Reilly is Tony’s 50+ year old student and the producer of the show. He was Australia’s first podcaster, has made a documentary, and has written a few books. He lives in Brisbane. When not training to become a value investing black belt, he spends his time making history podcasts, playing chess, practising Wing Chun, learning Italian, and spending time with his family.
Learn From One Of Australia’s Top Investors
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Join Australia’s Biggest Value Investing Club
Over 30 years, Tony Kynaston has built one of Australia’s largest private share portfolios. His average return has been double the market.
Each week we provide members with stock recommendations based on Tony’s analysis of their fundamentals using his investing system.
Join QAV Club to get exclusive access to premium content, Zoom support, and the ability to ask Tony your investing questions.
THREE WAYS TO ENGAGE
There are three ways to engage with QAV. The first and easiest is just to listen to the free versions of our our podcast or follow us on TikTok. When you’re ready to start investing along with the podcast, you can sign up to become members of one of our two communities, QAV Club and QAV Light.
QAV CLUB
QAV Club is for people who want to learn how to become value investors. Learn more about QAV Club.
QAV LIGHT
QAV Light is for people who just want stock tips each week. Learn more about QAV Light.