Anisley Garcia Navarro and Arlenys Garcia Gomez of Cuba compete in the women's synchronized diving 10M Final at the Aquatics Center of Villa Deportiva Nacional on Day 9 of Lima 2019 Pan American Games (Pic: Getty)
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Want to know where fund managers are putting their money? We’ve been keeping track so you don’t have to.
Trading Places is Stockhead’s recap of the substantial holder movements among ASX small caps over the last fortnight.
Substantial shareholders are those holding 5 per cent or more of a company’s shares — 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, as well as any change in their holdings while they remain above 5 per cent.
| Company | Code | Market Cap | Holder | Stake | Status |
|---|---|---|---|---|---|
| Woomera Mining | WML | $9.9M | Adelaide Equity Partners | 7.24% | Increasing |
| Black Dragon Gold | BDG | $14.0M | Delphi | 6.53% | Becoming |
| Yandal Resources | YRL | $20.1M | Au Xingao Investments | 15.83% | Increasing |
| Caravel Minerals | CVV | $13.9M | Alasdair Cooke | 8.12% | Increasing |
| Maxitrans | MXI | $32.4M | TelstraSuper | 5.99% | Becoming |
| Auroch Minerals | AOU | $16.4M | MIMO Strategies | 8.70% | Becoming |
| Seven West Media | SWM | $184.6M | Spheria Asset Management | 8.77% | Increasing |
| Infomedia | IFM | $625.3M | First State Super | 5.11% | Becoming |
| Enero Group | EGG | $138.6M | Regal Funds Management | 13.07% | Increasing |
| Cassini Resources | CZI | $94.7M | Brahman Capital Management | 7.23% | Increasing |
| Aurelia Metals | AMI | $432.6M | Perennial Value Management | 5.12% | Becoming |
| Viva Leisure | VVA | $198.8M | Wilson Asset Management | 6.44% | Increasing |
| Select Harvests | SHV | $525.7M | Yarra Funds Management | 5.58% | Becoming |
| ReadyTech | RDY | $144.0M | Microequities Asset Management | 10.82% | Increasing |
| Security Matters | SMX | $49.7M | Star Resources | 6.61% | Becoming |
| Emerald Resources | EMD | $319.2M | Sprott | 11.12% | Becoming |
| Alta Zinc | AZI | $16.5M | Gayle McGarry | 5.87% | Becoming |
| Azure Minerals | AZS | $284.4M | Delphi | 18.04% | Increasing |
| Ridley Corporation | RID | $239.7m | Spheria Asset Management | 6.45% | Becoming |
| Bisalloy Steel | BIS | $48.6M | Southern Steel Investments | 19.10% | Increasing |
| Oliver's Real Foods | OLI | $12.5M | Gelba - Michael Gregg | 14.02% | Increasing |
| JCurve Solutions | JCS | $10.8M | Phillip Ewart | 13.52% | Increasing |
| Tasfoods | TFL | $28.9M | CVC | 17.43% | Increasing |
| Shriro Holdings | SHM | $61.3M | Greig & Harrison | 5.35% | Becoming |
| Azure Minerals | AZS | $284.4M | Yandal Investments | 19.08% | Becoming |
| Euroz | EZL | $185.3M | Ice Cold Investments | 6.53% | Increasing |
| Victory Offices | VOL | $21.7M | Collins St Asset Management | 7.80% | Becoming |
| Chorus | CNU | UniSuper | 6.46% | Increasing | |
| Probiotec | PBP | $144.3M | Pie Funds Management | 6.02% | Becoming |
| Life360 | 360 | $599.3M | Paradice Investment Management | 5.03% | Becoming |
| Tesserent | TNT | $166.2M | Scott Ceely | 6.70% | Becoming |
| Rhythm Biosciences | RHY | $21.1M | Otto Buttula | 13.61% | Becoming |
| Fitzroy River Corporation | FZR | $11.2M | Noontide Investments | 11.20% | Increasing |
| Schrole Group | SCL | $39.0M | Capital H Management | 13.20% | Increasing |
| Spirit Telecom | ST1 | $199.0M | Regal Funds Management | 16.47% | Increasing |
| A2B Australia | A2B | $121.0M | Samuel Terry Asset Management | 5.40% | Becoming |
| Schrole Group | SCL | $39.0M | Faria Education | 18.50% | Becoming |
| Bod Australia | BDA | $27.0M | SG Hiscock | 8.60% | Increasing |
| BlueChiip | BCT | $36.8M | One Funds Management | 10.12% | Increasing |
| Emeco Holdings | EHL | $462.4M | Vinva Investment Management | 5.47% | Becoming |
| Motorcycle Holdings | MTO | $114.5M | Auscap Asset Management | 7.94% | Increasing |
| Todd River Resources | TRT | $17.1M | Marlee Minerals | 16.37% | Becoming |
| Todd River Resources | TRT | $17.1M | Avenger Projects | 8.19% | Becoming |
| Emeco Holdings | EHL | $462.4M | Perennial Value Management | 5.37% | Becoming |
| Linius Technologies | LNU | $36.0M | Gerard Bongiorno | 5.14% | Becoming |
| Huon Aquaculture | HUO | $318.8M | AustralianSuper | 9.36% | Becoming |
| DomaCom | DCL | $26.5M | Talal Yassine | 7.40% | Becoming |
| City Chic Collective | CCX | $810.1M | Pendal | 5.05% | Becoming |
| Hot Chili | HCH | $98.5M | Murray Black | 7.78% | Increasing |
| Bravura Solutions | BVS | $855.2M | Mawer Investment Management | 6.17% | Becoming |
| Regeneus | RGS | $50.0M | Brian Sherman | 5.67% | Becoming |
| Universal Biosensors | UBI | $60.3M | Viburnum Funds | 21.99% | Increasing |
| Think Childcare | TNK | $48.2M | Regal Funds Management | 9.11% | Becoming |
| BTC Health | BTC | $22.2M | Naos Asset Management | 26.20% | Increasing |
| Devex Resources | DEV | $60.7M | Timothy Goyder | 21.69% | Increasing |
| Empire Energy | ERL | $11.8M | Elphinstone Group | 6.63% | Increasing |
| Auteco Minerals | AUT | $227.2M | 1832 Asset Management | 7.57% | Increasing |
| Genesis Minerals | GMD | $146.6M | Alkane Resources | 19.90% | Increasing |
| Victory Mines | VIC | $17.1M | Serena Minerals | 11.70% | Becoming |
| Brookside Energy | BRK | $5.8M | Jason Peterson | 5.07% | Becoming |
| Rhythm Biosciences | RHY | $24.2M | Loumea Investments - Richard Vom | 6.85% | Increasing |
| Faster Enterprises | FE8 | $5.4M | FEL Consultants | 15.75% | Becoming |
This fortnight’s list of substantial holder buys depicts trades occuring in the wash-up of earnings season. Several of the stocks in this edition’s list reported solid results despite COVID-19.
Auscap Asset Management topped up its stake in motorbike retailer Motorcycle Holdings (ASX:MTO) to nearly 8 per cent. The company reported strong trading since May, although when Victoria’s latest lockdown was first announced it estimated it would take a $9m hit.
Industrial equipment lessor Emeco Holdings (ASX:EHL) has enjoyed a solid 2020, particularly thanks to increased business from the gold sector due to the high price.
Vinva Asset Management and Perennial Value Management both became substantial holders, with the pair now owning over 10 per cent of the company between them.
City Chic Collective (ASX:CCX) has been one of the better performing retailers in 2020 because compared to many of its peers it has a more substantial online presence. Pendal has accumulated a stake of just over 5 per cent.
Other traders took a punt on stocks that have seen tough times but might have better days ahead. One Funds Management bought more shares in tracking tech stock Bluechiip (ASX:BCT) two months after the company lost a key client.
Cancer test developer Rhythm Bioscience (ASX:RHY) has lagged for several months, with progress slower than investors would have liked.
But chairman Otto Buttula now owns 13.61 per cent after participating in the company’s capital raising. Existing substantial holder Richard Vom also participated and now owns 6.85 per cent.
Serviced offices provider Victory Offices (ASX:VOL) saw demand dry up with people forced to work from home. But it has been telling shareholders it anticipates demand will return and Collins Street Asset Management obviously agrees, having bought a 7.8 per cent stake.
WiseTech (ASX:WTC) investor Michael Gregg bought more shares in healthy fast food retailer Oliver’s Real Foods (ASX:OLI), which saw demand hit by both COVID-19 and the summer bushfires.
| Company | Code | Market Cap | Holder | Current Stake | Status |
|---|---|---|---|---|---|
| Big River Gold | BRV | $85.6M | Copulous Group | 37% | Decreasing |
| COSOL Group | COS | $95.0M | Microequities Asset Management | 5.45% | Decreasing |
| Redbubble | RBL | $1.0B | Challenger | 5.64% | Decreasing |
| Nick Scali | NCK | $733.1M | Eley Griffiths | 4.67% | Ceasing |
| Infomedia | IFM | $623.5M | Pendal | 5.08% | Decreasing |
| Cygnus Gold | CY5 | $17.2M | Resource Capital Fund | 5.88% | Decreasing |
| Mosaic Brands | MOZ | $47.0M | LHC Capital Partners | 8.01% | Decreasing |
| Atomo Diagnostics | AT1 | $249.7M | Perennial Value Management | 6.35% | Decreasing |
| Adairs | ADH | $591.8M | Yarra Funds Management | 4.99% | Ceasing |
| LiveTiles | LVT | $198.4M | Webtop Holding - John Wainer | 7.06% | Decreasing |
| Novonix | NVX | $578.4M | Gregory Baynton | 7.20% | Decreasing |
| Grange Resources | GRR | $309.6M | Pacific International | 6.64% | Decreasing |
| Stonehorse Energy | SHK | $23.4M | Merchant Funds Management | 7.81% | Decreasing |
| Ava Risk Group | AVA | $70.7M | Alkasab United | 7.99% | Decreasing |
| People Infrastructure | PPE | $251.3M | Perennial Value Management | 9.82% | Decreasing |
| Terrain Minerals | TMX | $10.9M | Jonathan Lim | 10.23% | Decreasing |
| Joyce Corporation | JYC | $42.4M | John Westwood | 7.65% | Decreasing |
| VIP Gloves | VIP | $68.6M | Choong Choy Lee | 1.07% | Ceasing |
| McPhersons | MCP | $348.9M | Pie Funds Management | 5.15% | Decreasing |
| Prescient Therapeutics | PTX | $42.3M | Australian Ethical Investment | 5.52% | Decreasing |
| Pure Profile | PPL | $2.6M | FMG Holdings | 2.39% | Ceasing |
| Middle Island Resources | MDI | $51.8M | Copulos Group | 5.46% | Decreasing |
| PTB Group | PTB | $94.1M | Stephen Smith | 1.62% | Ceasing |
| Gage Roads Brewing | GRB | $62.2M | Perennial Value Management | 12.42% | Decreasing |
| Integral Diagnostics | IDX | $627.6M | Viburnum Funds | 6.68% | Decreasing |
| Eclipx Group | ECX | $471.5M | Vinva Investment Management | 5.08% | Decreasing |
| Think Childcare | TNK | $43.7M | Celeste Funds Management | 0.00% | Ceasing |
| Webcentral | WCG | $13.4M | Merchant Funds Management | 0.00% | Ceasing |
| Nexus Minerals | NXM | $13.7M | Graeme Kirke | 0.52% | Ceasing |
| 3D Resources | DDD | $17.9M | Peter Proksa | 4.77% | Ceasing |
| McPhersons | MCP | $330.7M | Pie Funds Management | 4.88% | Ceasing |
| Northern Minerals | NTU | $137.3M | Huatei Mining | 4.27% | Ceasing |
A significant portion of sales were in retail and ecommerce stocks.
Challenger cut its stake in Redbubble (ASX:RBL), which is a pure online play targeted at independent artists.
Yarra Funds Management sold enough of its shares in furniture store Adairs (ASX:ADH) to fall below the 5 per cent threshold.
Similarly, Eley Griffiths fell below 5 per cent with the selldown of its shareholding in fellow furniture seller Nick Scali (ASX:NCK)
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