Trading Places: Here are this week’s substantial holder movements
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Trading Places is Stockhead’s weekly recap of substantial holder movements focusing on fund managers.
Substantial shareholders are shareholders holding 5 per cent or more of a company’s shares and these can be directors, individual investors or institutional investors.
Shareholders are required to announce to the exchange when they cross above or below the 5 per cent threshold and any change in their holdings while they remain above 5 per cent.
Buying
A week after Southern Cross Austereo (ASX:SXL) fell due to an earnings downgrade, Challenger has bought a 5.09 per cent stake in the company, spending nearly $2 million to do so.
Since AustralianSuper bought into Gage Roads Brewing (ASX:GRB) the share price has stagnated. But it has increased its stake to 6.94 per cent.
Tech stock ReadyTech (ASX:RDY) has increased 30 per cent since its April IPO. New Zealand based fund manager Pie Funds Management now hold 5.01 per cent of the company.
Speaking of tech IPOs, a more recent one was Damstra Holdings (ASX:DTC). While it has a solid first day, it has begun to retreat from those highs.
Regal Funds Management put $5.5 million into the stock but crossed the substantial holder threshold by exercising convertible notes.
SeaLink Travel Group (ASX:SLK) is in the middle of a $154 million capital raise. Two fund managers that bought in were Bennelong Australia Equity Partners and Lennox Capital Partners. These fund managers bought stakes of 7.38 per cent and 5.78 per cent respectively.
| Company | Code | Market Cap | Holder | Stake | Status |
|---|---|---|---|---|---|
| Tanami Gold | TAM | $51.9M | APAC Resources | 46.30% | Increasing |
| National Tyre & Wheel | NTD | $42.2M | Forager Funds Management | 7.08% | Increasing |
| AMA Group | AMA | $923.2M | AustralianSuper | 10.47% | Increasing |
| Gage Roads Brewing | GRB | $103.2M | AustralianSuper | 6.94% | Increasing |
| Breaker Resources | BRB | $70.3M | Tom & Helen Sanders | 10.98% | Increasing |
| MetalsX | MLX | $158.8M | L1 Capital | 5.90% | Becoming |
| Riversgold | RGL | $1.2M | Eaglehawk Investment | 17.61% | Becoming |
| Ive Group | IGL | $299.4M | Anthony Young | 6.10% | Increasing |
| Pursuit Minerals | PUR | $3.3M | Jamber Investments | 6.06% | Becoming |
| Southern Cross Media | SXL | $665.2M | Challenger | 5.09% | Becoming |
| Angel Seafood | AS1 | $17.6M | Issac Halman | 18.79% | Increasing |
| Readytech | RDY | $154.8M | Pie Funds Management | 5.01% | Becoming |
| Armour Energy | AJQ | $41.3M | David Rooke | 11.22% | Becoming |
| Capitol Health | CAJ | $178.3M | Lennox Capital partners | 8.82% | Increasing |
| Food Revolution Group | FOD | $51.5M | Domenal Enterprises | 9.03% | Increasing |
| Stonehouse Energy | SHE | $6.0M | Merchant Funds Management | 5.67% | Becoming |
| Blackham Resources | BLK | $52.9M | Delphi | 11.47% | Increasing |
| AusCann Group | AC8 | $84.0M | Merchant Funds Management | 12.43% | Increasing |
| Avero Group | AOG | $1.2B | Maso Capital Investments | 5.42% | Becoming |
| Damstra Holdings | DTC | $162.2M | Regal Funds Management | 8.61% | Becoming |
| Metalsearch | MSE | $7.2M | Goody Investments | 7% | Becoming |
| Blackstone Minerals | BSX | $23.0M | Delphi | 14.83% | Increasing |
| UCW | UCW | $21.0M | Viburnum Funds | 9.51% | Becoming |
| Noni B | NBL | $246.2M | Perpetual | 8.00% | Increasing |
| Virtus Health | VRT | $357.7M | Vinva Investment Management | 5.24% | Becoming |
| SeaLink Travel Group | SLK | $667.2M | Bennelong Australian Equity Partners | 7.38% | Becoming |
| MetalsX | MLX | $199.6M | L1 Capital | 15.05% | Increasing |
| SeaLink Travel Group | SLK | $667.2M | Lennox Capital partners | 5.78% | Becoming |
| Avecho Biotechnology | AVE | $7.9M | Mark Kerr | 12.65% | Increasing |
| Great Boulder Resources | GBR | $7.9M | Chris Retzos | 5.19% | Becoming |
| Bowen Coking Coal | BCB | $44.4M | M Resources | 14.89% | Increasing |
| Anglo Australian Resources | AAR | $35.3M | Braham Investments | 11.22% | Increasing |
| Lifespot Health | LSH | $4.0M | Niv Dagan | 8.26% | Increasing |
| ShareRoot | SRO | $5.9M | Antanas Guoga | 12.63% | Increasing |
| Palla Pharma | PAL | $72.2M | Wentworth Williamson Management | 8.28% | Increasing |
| Metalstech | MSE | $15.2M | Russell Moran | 15.70% | Increasing |
Selling
Former Flamingo AI (ASX:FGO) chair Catherine Reid sold nearly $90,000 in shares, taking her stake to only 3.56 per cent. She departed in June last year saying she was unable to commit the time required for an ASX-listed company.
Following the Bellamys (ASX:BAL) takeover offer last month, interest in the infant formula sector surged once again. One of the more successful companies in the sector is Clover Corp (ASX:CLV) which made a hefty profit last financial year.
| Company | Code | Market Cap | Holder | Current Stake | Status |
|---|---|---|---|---|---|
| OFX | OFX | $316.9M | Health Employees Superannuation Trust | 4.78% | Ceasing |
| Metgasco | MEL | $17.6M | Keybridge Capital | 17% | Decreasing |
| Flamingo AI | FGO | $2.2M | Catherine Reid | 3.56% | Ceasing |
| Vintage Energy | VEN | $41.3M | Tribeca Investment Partners | 8.02% | Decreasing |
| Autosports Group | ASG | $325.6M | Copia Investment Partners | 0.00% | Ceasing |
| XRF Scientific | XRF | $31.5M | Skye Alba | 7.83% | Decreasing |
| Rhythm Biosciences | RHY | $17.1M | Merchant Funds Management | 5.31% | Decreasing |
| RPMGlobal | RUL | $170.0M | Perennial Value Management | 13.21% | Decreasing |
| Virtus Health | VRT | $357.7M | Challenger | 5.89% | Decreasing |
| Austin Engineering | ANG | $104.2M | LIM Asia | 6.00% | Decreasing |
| Clover Corporation | CLV | $487.3M | Challenger | 4.97% | Ceasing |
| Hub24 | HUB | $786.1M | Pinnacle Investment Management | 10.43% | Decreasing |
| EML Payments | EML | $1.0B | Challenger | 6.30% | Decreasing |
| Genetic Technologies | GTG | $17.6M | Jimmy Thomas | 0.49% | Ceasing |
| Western Areas | WSA | $853.5M | Paradice Investment Management | 7.48% | Decreasing |
| Medibio | MEB | $11.0M | Regal Funds Management | 3.82% | Ceasing |
| Oilex | OEX | $12.9M | Republic Investment Management | 12.72% | Decreasing |
