Building a portfolio in 2026 does not need to start with dozens of positions.

In many cases, a small number of well-chosen exchange traded funds (ETFs) can do most of the heavy lifting. The trick is finding funds that each play a clear role, so they work together rather than overlap.

Here are three ASX ETFs that could form the backbone of a portfolio this year.

VanEck MSCI International Quality ETF (ASX: QUAL)

The first ASX ETF to consider is the VanEck MSCI International Quality ETF.

Instead of chasing the fastest-growing companies, this fund leans into consistency.

It focuses on businesses with strong returns on equity, stable earnings, and low debt. These are often the companies that quietly keep delivering, regardless of the economic backdrop.

Its holdings include Microsoft (NASDAQ: MSFT), Apple (NASDAQ: AAPL), and Visa (NYSE: V).

What makes the fund interesting in a portfolio is its role as a stabiliser. It does not rely on one theme or one cycle. It is built around the idea that high-quality businesses tend to keep compounding over time. It was recently recommended by analysts at VanEck.

iShares S&P 500 ETF (ASX: IVV)

Another ASX ETF that could form a core position is the iShares S&P 500 ETF.

It is often seen as a simple way to invest in the US market, but it can also be thought of as a proxy for global innovation.

Many of the world’s most influential companies are listed in the United States, and this ETF gives broad exposure to them in one trade.

Its holdings include NVIDIA (NASDAQ: NVDA), Amazon.com (NASDAQ: AMZN), and Alphabet (NASDAQ: GOOGL).

The strength of the iShares S&P 500 ETF is coverage. It does not try to pick winners. It owns the market, allowing the biggest and most successful companies to naturally take up more space over time.

BetaShares Australian Quality ETF (ASX: AQLT)

A third ASX ETF that could complete the picture is BetaShares Australian Quality ETF.

It applies a similar quality lens as the VanEck MSCI International Quality ETF, but to ASX shares.

It selects companies based on factors like profitability, earnings stability, and balance sheet strength. This results in a portfolio that looks quite different to the broader ASX 200.

Its holdings can include names such as BHP Group Ltd (ASX: BHP), Commonwealth Bank of Australia (ASX: CBA), and Wesfarmers Ltd (ASX: WES).

This means that rather than always being heavily weighted to just banks and miners, it tilts toward businesses with stronger underlying fundamentals. It was recently recommended by analysts at BetaShares.

The post 3 ASX ETFs to build a portfolio around in 2026 appeared first on The Motley Fool Australia.

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• Why this ASX ETF is one of the best buys for Australians
• Stop ‘saving’, start investing! How to target a $1 million ASX share portfolio

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Alphabet, Amazon, Apple, Microsoft, Nvidia, Visa, Wesfarmers, and iShares S&P 500 ETF and is short shares of Apple. The Motley Fool Australia has recommended Alphabet, Amazon, Apple, BHP Group, Microsoft, Nvidia, Visa, Wesfarmers, and iShares S&P 500 ETF. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

NextDC Ltd (ASX: NXT) and Wesfarmers Ltd (ASX: WES) shares are popular with investors and feature in many portfolios across the country.

But which one should you buy this week if you don’t already own them?

To narrow things down, let’s see what analysts at Red Leaf Securities are saying about the two popular ASX 200 shares, courtesy of The Bull.

Here’s what they are recommending investors do with these shares right now:

NextDC shares

Red Leaf is recommending this leading data centre operator’s shares as a buy this week.

It highlights the company’s strong forward order book as a reason to buy. In addition, it notes that NextDC’s strategic partnerships and expanding data centre network leave it well-positioned to capitalise on structural tailwinds in digital transformation and infrastructure demand.

Commenting on the growing data centre operator, Red Leaf said:

Australia’s leading data centre operator provides connectivity and colocation services to cloud, enterprise and government clients across Australia and the Asia Pacific. Its network of certified facilities underpin critical digital infrastructure amid surging demand for cloud, artificial intelligence and high performance computing.

NextDC recently launched a $1 billion hybrid securities offer to fund expansion. A strong forward order book reflects institutional confidence in its long term growth. The company continues to build new facilities and sign strategic partnerships, positioning it to capture structural tailwinds in digital transformation and infrastructure demand.

Wesfarmers shares

Red Leaf isn’t as positive on Wesfarmers. It has named the Bunnings, Kmart, and Officeworks owner’s shares as a sell this week.

While it likes its strong network of retail brands, it is concerned about slowing consumer demand and cost pressures. In addition, it believes the company’s shares are largely fully valued now.

As a result, it has suggested that investors trim positions in Wesfarmers if they are seeking a more attractive risk-reward proposition.

Commenting on Wesfarmers and its shares, Red Leaf said:

Wesfarmers is a diversified industrial conglomerate. Major retail brands include Bunnings, Kmart, Target and Officeworks. Its businesses are household names, but recent trading suggests slowing consumer demand and cost pressures are weighing on sentiment.

With much of its value already priced in amid a mixed outlook on near term retail growth, Wesfarmers lacks fresh catalysts to drive meaningful upside. Trimming positions into strength may be prudent for investors seeking a better risk-reward proposition.

The post NextDC vs Wesfarmers shares: Which is a buy? appeared first on The Motley Fool Australia.

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• How many Wesfarmers shares do I need to buy for $1,000 of annual passive income?
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Motley Fool contributor James Mickleboro has positions in Nextdc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Wesfarmers. The Motley Fool Australia has recommended Wesfarmers. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Global focus remains firmly on the ongoing conflict in Iran, as the Aussie market has lagged behind global equities. 

Fresh analysis from the team at Betashares has laid out the roadmap for a best and worst-case scenario this week. 

Global equities trending up

International stocks rose further last week, reflecting hopes around US-Iran peace talks.

Global equity markets have now staged a three-week rebound on peace-talk hopes. The S&P 500 Index (SP: .INX) is now trading above the levels prevailing just before the Iran war began.

According to Betashares, US stocks fell the least during the initial sell-off and have so far rebounded the hardest, with the NASDAQ-100 Index (NASDAQ: NDX) ending last week 6.9% above its 27 February weekly close.

Interestingly, while the NASDAQ-100 and S&P 500 continued to rise, the S&P/ASX 200 Index (ASX: XJO) dipped 0.15% last week.

Betashares Chief Economist David Bassanese said in a release today that, in theory, a two-week ceasefire deal was supposed to have included a reopening of the Strait of Hormuz. 

But within 24 hours of saying the Strait was open, Iran said it was closed again – due to the US’ own blockade of Iranian-linked ships. 

At the time of writing, there’s news of the US seizing an Iranian ship, for which Iran has vowed retaliation. Iran has also denied US reports suggesting talks were set to resume.  

Suffice to say confusion reigns supreme! If there’s one guiding light for markets, it’s the idea that the longer the war drags on and the higher oil prices go, the greater the political pressure on President Trump to cut a deal. In short, in TACO we trust – though patience is being tested.

The week ahead

Betashares commentary said this week we are facing a best and worst-case scenario.

• The worst-case scenario is Iranian attacks on US military ships, potentially even sinking one with casualties. That could spark an “all bets are off” resumption of US/Israel missile strikes, potentially including Iranian energy infrastructure, which in turn could spark Iranian attacks on energy and water infrastructure across the Middle East.
• The best-case scenario is no tit-for-tat ship attacks and an agreement to hold more talks. 

It will be worth keeping track of technology shares here in Australia after a strong rebound last week. 

At the time of writing, the S&P/ASX 200 Information Technology Index (ASX: XIJ) is up a further 1% today, after a massive rally last week.

How to target these sectors

For investors who expect the S&P 500 and/or NASDAQ-100 Index to keep rumbling ahead, there are several ASX ETFs that offer exposure: 

• iShares S&P 500 ETF (ASX: IVV)
• Vanguard S&P 500 US Shares Index ETF (ASX: V500)
• BetaShares NASDAQ 100 ETF (ASX: NDQ)

Meanwhile, if you expect Aussie tech to keep rising, the Betashares S&P ASX Australian Technology ETF (ASX: ATEC) is worth considering. 

The post Best and worst case scenarios this week for global equities: Expert appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Bell has positions in BetaShares Nasdaq 100 ETF. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended BetaShares Nasdaq 100 ETF and iShares S&P 500 ETF and is short shares of BetaShares Nasdaq 100 ETF. The Motley Fool Australia has positions in and has recommended BetaShares Nasdaq 100 ETF. The Motley Fool Australia has recommended iShares S&P 500 ETF. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

SKS Technologies Group Ltd (ASX: SKS) shares are back in focus after another strong session on Monday.

The stock is currently up 14.64% to $6.50, with buying picking up through the day. Earlier in the session, it climbed to a fresh record high of $6.57 before easing slightly as sellers stepped in.

That pullback followed a steady climb, with the stock pushing higher across most of the past 2 weeks.

Momentum continues to build

The latest move adds to what has already been a powerful run.

SKS shares are now up around 60% in 2026 alone. Over the past 12 months, the gain stretches to almost 300%, putting it among the top performers on the ASX over that period.

Short-term price action also points to consistent demand. The stock has now closed higher for 8 straight sessions, with daily gains reaching as much as 6.76% during that stretch.

Even without a fresh announcement today, buyers have continued to step in.

Last week’s update still filtering through

While there has been no news released today, the company did update the market late last week.

That announcement outlined a $210 million contract tied to data centre projects across Victoria and New South Wales. The deal expanded on earlier work, increasing the overall scope tied to an existing development.

Despite the size of the contract, the initial reaction was limited. The share price slipped 0.18% on the day, closing at $5.67.

The current move suggests the market is still adjusting to what that update could mean.

Data centre work driving the outlook

SKS operates across electrical and communications infrastructure, with growing exposure to large-scale data centre builds.

That part of the market has been gaining attention as demand for digital infrastructure continues to lift. Projects of this scale require complex electrical systems, which aligns with the company’s core capabilities.

The latest contract adds to a growing pipeline of work.

Following recent wins, SKS reported work on hand of roughly $350 million. That figure has been trending higher, supported by repeat contracts and expanding project scope.

Valuation back in focus

After a run of this size, the stock is attracting more attention from a broader group of investors.

SKS now carries a market capitalisation of around $747 million. At the same time, intraday moves like today’s pullback from record highs show that shorter-term trading activity is increasing.

Even so, the overall trend continues to hold up. Buying interest has continued to emerge on dips, with the stock holding above prior levels as momentum builds.

The post Up nearly 300% in a year, this ASX stock just hit another record high appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Sks Technologies Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

It’s been a wild ride for investors in Zip Co Ltd (ASX: ZIP) shares. The Zip share price has surged another 9.2% to $2.55 during Monday afternoon trade, capping off a remarkable run.

Over the past five trading days, the buy now, pay later provider is up 36%, and an eye-catching 69% over the past month alone. Zoom out, and the picture gets even more volatile. Zip shares are down 40% over the past six months, yet are still up 50.9% over the past year. Hectic barely covers it.

So, what’s driving the latest rally and do experts think there’s more to come?

Positive surprise and record cash

The catalyst was Zip’s third-quarter update, which appears to have reset market expectations. The company reported record cash EBITDA of $65.1 million for the quarter, marking a 41.5% increase on the prior corresponding period. That kind of growth tends to get attention, especially in a sector that has spent the past few years under pressure.

Even more importantly, management of Zip shares upgraded its full-year outlook. Zip now expects group cash EBITDA of at least $260 million, up from previous guidance of around $248.6 million. In a market that rewards positive surprises, that upgrade has clearly struck a chord with investors.

Scaling profitability

There’s also a broader narrative at play. Zip has spent the past few years tightening its operations, exiting underperforming markets, and focusing on profitability. The latest result suggests those efforts are paying off, with stronger margins and improved cost control starting to flow through.

On the strength side, Zip is showing it can scale profitably while maintaining solid customer growth. Its core markets are performing well, and improving credit quality and disciplined lending are helping to reduce risk. If the business can sustain this balance, Zip shares start to look far more compelling than they did during the sector’s downturn.

But the risks haven’t disappeared. Buy now, pay later remains a cyclical and competitive space, sensitive to consumer spending and economic conditions. Any slowdown in retail activity or deterioration in credit performance could quickly impact earnings. The recent share price surge also raises the question of how much good news is already priced in Zip shares.

That leaves investors weighing momentum against sustainability.

What next for Zip shares?

For now, the broker community is firmly in the bullish camp. Nine out of 11 analysts rate Zip shares as a strong buy, with the remaining two sitting at buy. The average 12-month price target stands at $3.80, implying around 49% upside from current levels. The most optimistic forecast goes as high as $5.40. That’s more than double the stock’s current price.

After such a rapid run, volatility is almost guaranteed. But if Zip continues to deliver on earnings and maintain its improved discipline, the rally may not be over just yet.

The post Up another 9%, how much higher can Zip shares go? appeared first on The Motley Fool Australia.

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Motley Fool contributor Marc Van Dinther has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

With so many shares to choose from on the Australian share market, it can be difficult to decide which ones to buy. The good news is that brokers across the country are doing a lot of the hard work for you.

Three top ASX shares that leading brokers have named as buys this week are listed below. Here’s why they are bullish on them:

Collins Foods Ltd (ASX: CKF)

According to a note out of Morgans, its analysts have retained their buy rating on this KFC-focused quick service restaurant operator’s shares with a slightly reduced price target of $12.50. While the broker has trimmed its net profit forecast to reflect deferred store openings, reset German acquired store economics, and lower European same store sales assumptions, it remains very positive. This is partly due to the strong performance of the KFC Australia business and its attractive valuation. Morgans sees potential upside of over 40% for investors from current levels. The Collins Foods share price is trading at $8.56 on Monday.

NextDC Ltd (ASX: NXT)

A note out of Morgan Stanley reveals that its analysts have retained their overweight rating on this data centre operator’s shares with a trimmed price target of $19.00. The broker believes the market is underappreciating the structural growth in areas like cloud computing, GPU demand, and artificial intelligence (AI). It believes this will drive significant growth for data centre capacity, which bodes well for NextDC. In fact, it estimates that the data centre market could grow as much as 27% per annum through to 2030, under its bull case scenario. In light of this, the broker believes NextDC shares could be worth buying at current levels. The NextDC share price is fetching $14.12 at the time of writing.

Pro Medicus Ltd (ASX: PME)

Another note out of Morgans reveals that its analysts have retained their buy rating on this health imaging technology company’s shares with a reduced price target of $210.00. Morgans has been fine-tuning its financial model for Pro Medicus, which includes deliberately setting a lower bar. It notes that its remodelled estimates prioritise achievability over optimism, stage implementation revenue conservatively, and mark foreign exchange to spot. Morgans believes this is the right framework for a stock where sentiment has been fragile. That said, the broker believes Pro Medicus’ story remains untarnished, highlighting that contract news flow since February has been exceptional. This includes ~$100 million in wins and renewals, all at higher pricing, with cardiology upsell gaining traction. The Pro Medicus share price is trading at $145.57 on Monday afternoon.

The post Leading brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has positions in Collins Foods, Nextdc, and Pro Medicus. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Pro Medicus. The Motley Fool Australia has recommended Collins Foods and Pro Medicus. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

European Lithium Ltd (ASX: EUR) shares are making noise again on Monday, with buying picking up quickly throughout the day.

The stock is up 12.25% to 27.5 cents, adding to a strong run that has been building over recent months.

That move leaves the shares up roughly 80% in 2026, as interest across lithium names starts to return following last year’s downturn.

There has been no shortage of volatility for European Lithium, but today’s jump stands out from the recent trend.

It comes after a new update was released to the market.

Here’s what investors are reacting to.

Full control of Tanbreez project locked in

In a statement to the ASX, European Lithium said Critical Metals Corp (NASDAQ: CRML) will move to full ownership of the Tanbreez rare earths project in Greenland.

The deal involves picking up the remaining 50.5% stake, bringing the project under a single owner.

European Lithium will keep a 7.5% free carried interest in Tanbreez.

This removes the split ownership and makes decision-making more straightforward.

Tanbreez is seen as one of the larger rare earths deposits globally, and full ownership helps move it closer to development.

Management also pointed to recent approval from the Greenland government, which clears a key step for the project.

Ownership shift brings clearer pathway

With one owner in place, attention now shifts to what happens next on the ground.

Joint venture structures can slow things down, especially when major funding decisions are involved.

Full ownership gives Critical Metals direct control over timelines, capital allocation, and development plans.

European Lithium still keeps exposure through its retained interest, but without being involved day to day.

That setup removes some of the unknowns around the project and is starting to draw interest from investors.

Lithium sentiment starts to turn

The update lands as conditions across battery materials begin to improve.

Lithium prices have lifted in 2026 after a long decline, with demand expectations picking up and supply looking tighter.

That change has started to show up across ASX-listed names, particularly those linked to large or strategic assets.

European Lithium is not a pure lithium producer, but its rare earths exposure still links into the broader electrification push.

As pricing steadies, investors are starting to revisit names that were sold down heavily last year.

Foolish Takeaway

This kind of move can pull attention back in quickly, especially after a strong run.

But the stock has already climbed a long way this year and still trades with large swings.

Keep in mind that moves like this can fade just as fast as they appear.

For me, this is one to watch rather than chase.

There are other ASX stocks where the setup looks more consistent and easier to follow.

The post This ASX lithium stock just exploded 12%. Here’s what sparked it appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

4DMedical Ltd (ASX: 4DX) is back on the radar after an active start to the week.

The stock is currently up 2.56% to $5.99 after earlier touching an intraday high of $6.38.

That pullback has come as the broader market softened, with the S&P/ASX 200 Index (ASX: XJO) down 0.1% to 8,935 points.

Even with today’s volatility, the overall trend remains strong. The shares are up roughly 50% in 2026 and 2,000% over the past year.

Here’s what was announced.

Several updates hit at the same time

According to the release, 4DMedical reported a series of developments across commercial, regulatory, and its upcoming inclusion in the ASX 200.

The company confirmed a contract with GlaxoSmithKline to support pulmonary drug development using its imaging technology.

GlaxoSmithKline is a global pharmaceutical and healthcare company headquartered in the UK. It develops vaccines, specialty medicines, and consumer health products, and is one of the largest drugmakers in the world.

The agreement runs for 1 year and will see 4DMedical provide lung imaging biomarkers across clinical trials.

4DMedical did not disclose the financial terms of the agreement.

At the same time, the company reported regulatory clearance in the UK for its CT:VQ technology.

CT:VQ is 4DMedical’s imaging technology that uses CT scans to map how air and blood move through the lungs. It produces detailed functional images that help clinicians detect and measure lung conditions without requiring invasive tests.

This follows CE Mark certification received in March and allows for immediate clinical use.

The UK is one of the largest markets for diagnostic imaging, with millions of chest scans performed each year.

The update also highlighted clearance for its coronary artery calcium analysis solution in Canada.

Reimbursement progress opens a revenue pathway

Another part of the release focused on progress in the United States.

A new reimbursement code has been established for AI-enabled coronary calcium analysis from CT scans.

The code allows hospitals to claim around US$15.50 per study in the outpatient setting.

This puts a clear revenue pathway in place without requiring additional imaging or changes to workflow. Providers can integrate the analysis into existing scans, which helps lower barriers to adoption.

Reimbursement has often been a key step in moving imaging technologies into routine clinical use.

ASX 200 entry puts the stock on more screens

4DMedical has also been added to the S&P/ASX 200 Index at market open today.

The move brings the stock into Australia’s main benchmark, which is tracked by institutional and passive funds.

Inclusion can lead to increased demand as index funds adjust their holdings.

It also increases visibility among larger investors and can improve liquidity over time.

The post Up 2,000% in a year, why this ASX healthcare stock is in focus today appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a small decline. At the time of writing, the benchmark index is down slightly to 8,942.4 points.

Four ASX shares that are falling more than most today are listed below. Here’s why they are dropping:

Monash IVF Group Ltd (ASX: MVF)

The Monash IVF share price is down 8% to 70.5 cents. Investors have been selling this fertility treatment company’s shares after it rejected a takeover offer from a consortium that includes Washington H. Soul Pattinson and Co Ltd (ASX: SOL). The company’s chair, Richard Davis, said: “The Board, in consultation with its advisers, has formed the view that the revised Proposal in its current form undervalues the Company. The Board is supportive of Dr Victoria Atkinson and looks forward to the execution of her strategy to bring stability and growth to Monash IVF.” However, Monash IVF revealed that it “remains open to discussions regarding a change of control transaction at a higher valuation.”

National Australia Bank Ltd (ASX: NAB)

The NAB share price is down 3% to $41.30. This morning, the banking giant advised that it has reviewed its credit provisioning and capital settings to better reflect the risks in the market caused by the conflict in the Middle East. NAB expects first-half credit impairment charges to be $706 million. This includes “$201 million increase in Forward Looking Adjustments (FLAs) for potential stress which may emerge in sectors more likely to be impacted by fuel supply and cost issues related to the Middle East conflict.”

Viva Energy Group Ltd (ASX: VEA)

The Viva Energy share price is down almost 7% to $2.36 after returning from a trading halt. This morning, the fuel retailer released an update on last week’s fire at its Geelong refinery. Viva Energy advised that in the near-term, the refinery is expected to run diesel and jet fuel production at around 80% capacity, while petrol output is closer to 60%. The good news is that management expects production to recover to 90% capacity over the coming weeks.

Worley Ltd (ASX: WOR)

The Worley share price is down 3.5% to $11.40. This follows the release of a trading update this morning. The global professional services company revealed that it expects the ongoing Middle East conflict to have a negative impact on its FY 2026 earnings, with underlying EBITA expected to be reduced by between $30 million and $40 million. In light of this, Worley has indicated that it is now unlikely to achieve growth in underlying EBITA in FY 2026.

The post Why Monash IVF, NAB, Viva Energy, and Worley shares are falling today appeared first on The Motley Fool Australia.

More reading

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• Worley flags $30–40m EBITA hit from Middle East conflict in FY26 outlook

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has positions in and has recommended Washington H. Soul Pattinson and Company Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

ASX stock Qube Holdings Ltd (ASX: QUB) rose 0.7% to $5.05 during early afternoon trade on Monday, leaving the logistics giant just shy of its all-time high of $5.07.

The move extends a strong run for the ASX stock. Qube is now up 31% over the past 12 months, as investors continue to reward its steady exposure to Australia’s import and export supply chains.

Let’s take a closer look at Monday’s move.

Geopolitical and weather hit

Qube is Australia’s leading integrated logistics provider, with operations spanning freight movement, warehousing, and supply chain services across key trade routes.

Monday’s share price gain came after the ASX stock issued an operational update highlighting modest short-term earnings headwinds. The company flagged a $10 to $20 million EBIT impact linked to ongoing geopolitical disruption in the Middle East, alongside a further $3 to $5 million hit from cyclones in Western Australia and storms in New Zealand.

While these figures sound material, they are relatively small in the context of Qube’s multi-billion-dollar earnings base.

Strong contractual frameworks

Importantly, management emphasised that the business has not experienced any operational interruptions. Instead, the issues are being absorbed through its diversified operations and strong contractual frameworks.

Many of Qube’s agreements include cost pass-through mechanisms and pricing levers that allow it to recover higher fuel and shipping-related expenses over time, albeit with some timing delays.

That timing gap is the key nuance. While short-term profitability may fluctuate, most of the cost pressures are expected to be temporary. If conditions stabilise, some of these impacts could unwind in FY27, providing a potential earnings tailwind.

What next for Qube shares?

Beyond near-term volatility, Qube continues to highlight longer-term growth opportunities. One area of increasing focus is its role in supporting alternative energy projects. The demand for specialist logistics and infrastructure services is expected to grow.

Management of the ASX stock believes this segment could become a meaningful contributor over time. It could leverage its existing capabilities in complex supply chain coordination.

Looking ahead, Qube remains confident of delivering underlying earnings growth in FY26, even as external conditions remain uneven. The outlook is not without uncertainty, particularly around fuel costs and global trade volumes. However, the company maintains that most headwinds are cyclical rather than structural.

Meanwhile, progress continues on its previously announced scheme with the Macquarie Asset Management (MAM) consortium. The group led by MAM plans to acquire 100% of Qube shares at $5.20 cash per share.

Management reiterated that the scheme remains on track and unaffected by the updated trading commentary. Regulatory approvals are still progressing in line with the timeline set out earlier this year.

Foolish bottom line

For investors in the ASX stock, the takeaway is a familiar one: short-term noise, long-term infrastructure.

Qube’s steady march toward its record high reflects a market increasingly willing to look through temporary disruption and focus on the structural growth story beneath it.

The post Why this $9 billion ASX stock is edging closer to record highs today appeared first on The Motley Fool Australia.

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Motley Fool contributor Marc Van Dinther has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.