Fundie reveals why these 3 ASX 200 large-cap shares ripped 35% to 96% in FY25

Blackwattle Investment Partners discusses the performance and outlook for 3 ASX 200 shares in its Large Cap Quality Fund.

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S&P/ASX 200 Index (ASX: XJO) shares rose by 9.97% in value and produced total returns (including dividends) of 13.81% in FY25.

If you're an investor favouring ASX 200 large-cap shares for their relative safety and reliability, check out the top 10 risers of FY25 here.

Meanwhile, Blackwattle Investment Partners has revealed three ASX 200 shares that outshone their peers in its Large Cap Quality Fund last year.

In their latest update, portfolio managers Ray David and Joe Koh explain why these companies outperformed and the outlook ahead for each of them in FY26.

3 ASX 200 large-cap shares that smashed it in FY25

Life360 Inc (ASX: 360)

In FY25, the Life360 share price rose by 96% to close at $32.18 on 30 June.

Life360 was among the five best performing ASX 200 tech shares of FY25.

David and Koh said the family location app provider continued to show strong momentum in FY25.

They noted a 26% increase in total monthly users and a 32% bump to subscription revenue driven by user expansion and pricing.

The managers said:

The company has now reached net income profitability (post stock-based compensation), reflecting strong cost control and operating leverage.

We remain attracted to Life360's 80+ million global users and its valuable first-party data.

We believe this data holds potential across marketing, insurance, urban planning, and mobility analytics. The recent launch of its advertising platform exemplifies this optionality.

David and Koh also said the ASX 200 large-cap tech share was "unduly punished" in the tariff-inspired meltdown in April.

They commented:

The company's business is not materially affected by any direct consequences of US tariff policy, while the company's large and growing user base, mostly in developed markets, is resilient to broader economic weakness, in our view.

Charter Hall Group (ASX: CHC)

In FY25, Charter Hall shares rose by 72% to close at $19.19 on 30 June.

David and Koh said the ASX 200 large-cap real estate investment trust (REIT) was "a standout performer" over the year.

The managers were impressed with Charter Hall's "disciplined cost control and resilient performance fees in a tough real estate environment".

They commented:

Charter Hall's scalable funds management platform, one of the largest in Australia, makes it a compelling partner for sovereign wealth funds seeking real estate exposure.

With 73% of revenue recurring and underpinned by long-term leases across industrial, office, and social infrastructure.

With the RBA poised to reduce interest rates, we see Charter Hall as well-positioned for an eventual recovery in transaction volumes and real-estate markets.

Resmed CDI (ASX: RMD)

The ASX 200 large-cap healthcare stock lifted 35% to close at $39.35 per share on 30 June.

This made Resmed shares one of the healthcare sector's top five risers of the year.

As we've previously reported, Resmed says GLP-1 obesity medicines are doing the opposite of what the market feared.

David and Koh said the ASX 200 large-cap share rebounded in FY25 as concerns about the impact of GLP-1 weight-loss drugs eased.

The managers commented:

Despite GLP usage of up to 1 in 8 U.S. adults, Resmed reported 5–12% device growth in recent quarters.

Resmed continues to demonstrate strong market leadership and an innovative approach to addressing the threat from GLP drugs.

Its market leadership is evident by its 29 million cloud-connected devices, 32 million patients on AirView, and 160 million accounts in its Residential Care Software network.

The managers said recent product launches, including the AirSense 11 AutoSet CPAP, the Dawn AI-enabled sleep concierge, and a new ergonomic fabric mask, represent a step change in innovation.

David and Koh said:

These advancements not only strengthen its competitive edge but are also expected to drive margin expansion as legacy models are phased out.

Motley Fool contributor Bronwyn Allen 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 Life360 and ResMed. The Motley Fool Australia has positions in and has recommended ResMed. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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