NTA & Top 25 Investments as at 31 December 2020

11 January 2021


The Manager
ASX Market Announcements
Australian Securities Exchange
Exchange Centre
Level 4
20 Bridge Street
Sydney NSW 2000

Electronic Lodgement


Australian Foundation Investment Company Limited
Monthly Net Tangible Asset Backing Per Share and Top 25 Investments

Dear Sir / Madam


Before Tax * After Tax *
31 December 2020 $6.64 $5.61
30 November 2020 $6.56 $5.56

*The before and after tax numbers relate to the provision for deferred tax on the
unrealised gains in the Company’s investment portfolio. The Company is a long term
investor and does not intend disposing of its total long term investment portfolio. Under
current Accounting Standards, the Company is required to provide for tax on any gains
that may arise on such a theoretical disposal, after the utilisation of brought forward
losses.

These figures are subject to external review by the auditors.
 
Attached is a list of the Company’s Top 25 Investments as at 31 December 2020

Yours faithfully

Matthew Rowe
Company Secretary

Release authorised by Company Secretary.

AUSTRALIAN FOUNDATION INVESTMENT COMPANY LIMITED
Total Value
$ million
1 CBA Commonwealth Bank of Australia648.7 8.1%
2 CSL CSL 615.7 7.7%
3 * BHP BHP Group 590.6 7.4%
4 WES Wesfarmers 371.5 4.7%
5 TCL Transurban Group 322.9 4.1%
6 WBC Westpac Banking Corporation301.1 3.8%
7 MQG Macquarie Group 300.4 3.8%
8 * NAB National Australia Bank 271.5 3.4%
9 WOW Woolworths Group 249.2 3.1%
10 * RIO Rio Tinto 227.3 2.9%
11 MFT Mainfreight 211.9 2.7%
12 ANZ Australia and New Zealand Banking Group 192.7 2.4%
13 AMC Amcor177.9 2.2%
14 * JHX James Hardie Industries175.4 2.2%
15 * SYD Sydney Airport163.9 2.1%
16 TLS Telstra Corporation 162.4 2.0%
17 BXB Brambles 128.7 1.6%
18 COL Coles Group 128.2 1.6%
19 XRO Xero 127.8 1.6%
20 GMG Goodman Group126.4 1.6%
21 SHL Sonic Healthcare 119.1 1.5%
22 RHC Ramsay Health Care 119.1 1.5%
23 SEK Seek 118.7 1.5%
24 REH Reece 117.7 1.5%
25 RMD Resmed Inc110.3 1.4%
6,079.1
As % of Total Portfolio Value 76.3%
(excludes Cash)
* Indicates that options were outstanding against part of the holding
TOP 25 INVESTMENTS AS AT 31/12/2020
Valued at closing prices at 31 December 2020