If you are looking for the best ASX shares, then it could be worth listening to Bell Potter.

That’s because the broker has just released an update on its Core Portfolio.

Here’s what Bell Potter holds in its portfolio:

ANZ Group Holdings Ltd (ASX: ANZ)

This big four bank features in the portfolio due to its earnings resilience, income, and valuation. In addition, Bell Potter thinks it is better positioned than its major bank peers. It explains:

We hold ANZ as our preferred exposure to the Australian banking sector, offering a compelling combination of earnings resilience, attractive income and valuation support. We increased our position as we see ANZ as better positioned than its major bank peers, many of which continue to trade on demanding multiples.

Higher interest rates should continue to support margins and profitability, while a strong capital position underpins sustainable dividend payments and shareholder returns. As the domestic economy navigates a higher-for-longer interest rate environment, ANZ provides exposure to improving credit demand, robust cash generation and potential earnings upgrades, while still trading at a discount to the sector ‘ s highest-rated names.

Brambles Ltd (ASX: BXB)

Another ASX share that could be worth considering is supply chain logistics company Brambles.

Bell Potter likes the company due to its recurring revenues, strong free cash flow generation, and attractive returns on invested capital. It explains:

We hold Brambles for its exposure to a high-quality global logistics franchise with recurring revenues, strong free cash flow generation and attractive returns on invested capital. Through its market-leading CHEP pallet pooling network, Brambles benefits from powerful network effects and long-term structural growth in supply chain outsourcing. Recent operational challenges in the US appear temporary rather than structural, creating an opportunity to buy a quality business at a more attractive valuation.

As pallet repair capacity normalises, earnings growth should reaccelerate, supported by improving economic activity, greater pooling penetration and digitisation initiatives that enhance productivity and margins. We believe the market is underappreciating the resilience of the franchise and the potential for earnings upgrades as operational performance improves.

South32 Ltd (ASX: S32)

A final ASX share that Bell Potter is positive on is mining giant South32. It likes the company’s exposure to global electrification and infrastructure investment through its copper and zinc operations.

The broker also highlights that it sees significant value in South32’s copper growth pipeline. This includes the Sierra Gorda expansion and Hermosa development. Bell Potter said:

We hold South32 as a simplified base-metals growth story with increasing leverage to copper and zinc, two commodities that sit at the heart of global electrification and infrastructure investment. The sale of the aluminium business to Alcoa transforms South32 into a more focused mining company, reducing earnings volatility, lowering legacy liabilities and improving the overall quality of the asset portfolio. The transaction is expected to leave the company with substantial balance sheet flexibility, supporting capital returns while retaining the capacity to fund future growth.

We see significant value in South32’s copper growth pipeline, including the Sierra Gorda expansion and Hermosa development, which provide long-duration exposure to commodities benefiting from the energy transition and the build-out of AI and data-centre infrastructure. As the business becomes increasingly weighted toward higher-growth, higher-multiple base metals, we believe South32 is well positioned to deliver both earnings growth and a valuation re-rating over the medium term.

The post Bell Potter names the best ASX shares to buy in August appeared first on The Motley Fool Australia.

More reading

• Brokers name the ASX 200 winners and losers from the first half of reporting season
• Here’s the earnings forecast out to 2027 for ANZ shares
• Brambles earnings: FY26 profit rises, dividend up, outlook steady
• How many Brambles shares do I need to buy for $5,000 per year of passive income?
• Buy, hold, sell: ANZ Bank, Iress, and JB Hi-Fi shares

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 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.

ASX reporting season is now past its halfway mark, and the gap between winners and losers is widening.

Roughly half of the S&P/ASX 200 Index (ASX: XJO) has reported its FY26 numbers.

Companies that beat their guidance have been rewarded, and those that missed have been sold hard within minutes of the announcement hitting the market.

Three results released this week captured that divide neatly, and each one tells you something different about what the market is currently willing to pay for.

Zip: the standout of ASX reporting season

Zip Co Ltd (ASX: ZIP) delivered the cleanest beat of the week.

Its FY26 result showed total transaction volume of $16.7 billion, up 27.2%, on revenue that rose 24.6% to $1.35 billion. Cash EBTDA jumped 57.9% to $268.9 million, comfortably ahead of the $260 million guidance.

Net profit after tax climbed 45.7% to $116.4 million.

The United States did the heavy lifting again, with transaction volume there up 42.5% in local currency across 4.6 million active customers.

Management is now guiding to cash EBTDA of $340 million in FY27.

The shares surged on the day, and several brokers reaffirmed their buy ratings.

Even so, Zip remains down roughly 23% for the calendar year.

Northern Star: record profit with a catch

Northern Star Resources Ltd (ASX: NST) posted the biggest headline number of the day.

The company’s FY26 result delivered revenue of $7.6 billion, underlying EBITDA of $4.3 billion and underlying net profit after tax of $1.8 billion.

The company sold 1.54 million ounces of gold at an all-in sustaining cost of $2,698 per ounce.

The full-year dividend rose to 55 cents per share.

The catch lies within the cash flow statement. Underlying free cash flow was only $190 million, as KCGM’s capital spending has reached its peak.

FY27 guidance compounds the point, with production of 1.5 million to 1.65 million ounces expected at an all-in sustaining cost of $3,050 to $3,450 per ounce.

That is a meaningful step up in costs.

Brambles: resilient, but not enough

Brambles Ltd (ASX: BXB) had a tough time this reporting season.

Its FY26 numbers showed sales revenue up 2% and underlying profit up 4%.

Excluding a US$90 million hit from United States repair capacity constraints, profit would have risen 11%.

Free cash flow before dividends topped US$1 billion for a second consecutive year, and dividends rose 16% to 46.15 US cents per share alongside US$509 million of buybacks.

Chief executive Graham Chipchase was measured about the year.

We delivered a resilient financial result while advancing the customer operational and sustainability initiatives that strengthen our long-term competitive advantage.

The market wanted more, and the shares drifted lower despite a dividend increase that would have been celebrated in a quieter year.

FY27 guidance of 2% to 6% underlying profit growth includes a further US$35 million to US$55 million repair drag.

What the rest of ASX reporting season holds

The heaviest week is still ahead.

Fortescue, Woodside and Coles report early next week, while Woolworths, WiseTech and Domino’s follow on 26 August.

Wesfarmers, Qantas and South32 close things out on 27 August.

The full calendar runs through to the end of the month.

Foolish takeaway

ASX reporting season rewards clarity more than it rewards size.

Zip beat its own guidance and told investors exactly what FY27 should look like.

Northern Star delivered a record profit but flagged materially higher costs ahead.

Brambles did neither particularly well nor particularly badly.

With the biggest week of ASX reporting season still to come, investors may want to wait a bit longer before judging whether this reporting season was a success.

The post Brokers name the ASX 200 winners and losers from the first half of reporting season appeared first on The Motley Fool Australia.

More reading

• Bell Potter names the best ASX shares to buy in August
• 3 ASX shares UBS says will return better than 36%
• How high do UBS and Macquarie think Zip shares will go?
• Buy, hold, sell: Fortescue, Northern Star, and Megaport shares
• Here are the top 10 ASX 200 shares today

Motley Fool contributor Mark Verhoeven 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 Domino’s Pizza Enterprises, Wesfarmers, and WiseTech Global. The Motley Fool Australia has positions in and has recommended WiseTech Global. The Motley Fool Australia has recommended Domino’s Pizza Enterprises and Wesfarmers. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

I think ASX growth shares can be a great way to build wealth over time.

The companies I am most interested in are those that can keep increasing revenue and earnings for many years while reinvesting in even larger opportunities.

When that process continues for long enough, the results can be substantial.

Look for businesses with room to grow

A company can already be successful and still have a long way to go.

TechnologyOne Ltd (ASX: TNE) is a good example. Its enterprise software is used by councils, universities, government organisations, and other large institutions.

Once an organisation builds important processes around a software platform, changing providers can become time-consuming and disruptive. That can help TechnologyOne retain customers while gradually expanding the services they use.

The tech company also has opportunities to keep growing overseas, particularly in the UK.

For me, that is the type of growth story worth looking for. TechnologyOne does not need to invent an entirely new business every few years. It can keep improving its existing software, add customers, and expand into larger markets.

Give compounding time to work

Growth investing becomes particularly powerful when a company can reinvest its profits and keep generating attractive returns from that spending.

Hub24 Ltd (ASX: HUB) has been doing this for years as it expands its investment and superannuation platform.

Australia’s pool of retirement savings should keep growing over the decades ahead, while financial advisers increasingly rely on modern platforms to manage client portfolios.

If Hub24 continues winning advisers and attracting more money onto its platform, the business can become more valuable without needing to reinvent its core proposition.

This is where patience becomes important.

A strong company can have an excellent year without creating life-changing wealth for shareholders. The bigger opportunity comes when it repeats that growth over five, 10, or even 20 years.

Earnings can compound, the business can become considerably larger, and shareholders participate in that expansion.

I would focus on quality as well as growth

Rapid growth alone would not be enough for me.

I want to understand why a company is growing and whether it has a realistic chance of continuing.

REA Group Ltd (ASX: REA) is the type of business I find attractive for that reason.

Realestate.com.au has built an enormous audience, which encourages property agents to list their homes on the platform. Those listings then give buyers and renters another reason to keep visiting.

REA Group can build on that position by offering better tools, property data, artificial intelligence features, and services connected to financing and the broader property journey.

I think businesses with strong competitive positions have a better chance of protecting the profits needed to keep investing for the future.

The share price will not always cooperate

Even great growth shares can fall sharply.

Expectations can become too high, economic conditions can change, or investors can simply lose enthusiasm for a sector.

I would expect volatility rather than treating it as a sign that a long-term strategy has failed.

That makes diversification important as well. I would rather own several high-quality growth businesses than depend on one company getting everything right.

It also means I would be careful about chasing a share simply because its price has been rising. The business still needs to justify my confidence in its future.

Foolish takeaway

I think ASX growth shares can play an important role in building serious long-term wealth.

The businesses I want to own have clear opportunities to become larger, strong competitive positions, and the ability to reinvest successfully for years.

Finding those companies is only part of the job. The other part is giving them enough time to compound.

If I can own a collection of strong growth businesses and resist the temptation to constantly interfere, I think that can be a powerful approach to growing wealth over the long term.

The post How I’d use ASX growth shares to build long-term wealth appeared first on The Motley Fool Australia.

More reading

• 16 ASX 200 shares with ex-dividend dates next week
• Buy, hold, sell: Car Group, Baby Bunting, Hub24 shares
• 7 ASX 200 shares with reaffirmed buy ratings this week
• Buy, hold, sell: BHP, CSL, and HUB24 shares
• Buy, hold, sell: REA, Northern Star Resources, Suncorp shares

Motley Fool contributor Grace Alvino has positions in Hub24. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Hub24. The Motley Fool Australia has recommended Hub24. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.