In this week’s recap of substantial shareholders, IOOF and a UK hedge fund manager take a bet they’ll recoup their losses in Speedcast (ASX:SDA), Australian Ethical Investment buys a 16 per cent stake in Cogstate (ASX:CGS) and Taurus increases its stake in Hot Chili (ASX:HCH).

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.

Buyers

Recent share price crashes will have hit SpeedCast shareholders. One such shareholders is UK hedge fund manager Portsea Asset Management.

Portsea bought a 14 per cent stake in May for over $123m. With a share price of $2.03 now that’s only worth $69m. Ouch.

But this week it bought another 2 million shares (for around $4m) and now holds 15.02 per cent.

Another investor IOOF took a similar gamble despite having lost money. The Melbourne fund manager had just accumulated a 5 per cent stake before the crash – worth $42m, but that halved to $22m.

So what did it do? Doubled its holdings. IOOF now holds 10.7 per cent and twice as many shares – spending $28m.

Read More: Will satellite stock SpeedCast bounce back from its share price crashes?

IOOF also bought into DE.MEM (ASX:DEM) and Atomos (ASX:AMS), acquiring stakes of 7.7 per cent and 8.03 per cent respectively.

Australian Ethical Investment bought a 16 per cent stake in brain-focused medtech play Cogstate, buying $4m in stock. Recently Stockhead has been running a series of articles on ethical investing including input from fund managers with ethical ETFs.

Read More: Here’s how Vanguard thinks you should choose an “ethical” investment 

You could argue Hot Chili only stood out among base metals explorers because of its name but not any more. In recent days the explorer has reported stunning mineral discoveries and Taurus Funds Management has bought another $680,000 – taking its stake to 13 per cent.

Regal Funds Management increased its stake in Visioneering Technologies (ASX:VTI) to 15.5 per cent. The optometry stock has seen a rapid decline over several months but appears to be rising again. The Phillip-King run fund manager bought another $2m in the company.

Speaking of London money managers, Jupiter Asset Management now owns 9.9 per cent of Sky Network Television (ASX: KT) after buying another $7m of stock. New Zealand’s Accident Compensation Corporation also topped up its holdings – to 6.18 per cent, spending $5m.

Canadian fund manager Burgundy Asset Management increased its stake in iSelect (ASX:ISU) to 7.13 per cent and investor Matthew Latimore took his stake in Stanmore Coal (ASX:SMR) to 19.86 per cent.

Company Code Market Cap Holder Stake Status
Eureka Group Holdings EGH $61.0M Salt Funds Management 7.25% Increasing
Smart Marine Systems SM8 $6.2M Schaffer Corporation 6.28% Becoming
BTC Health BTC $21.0M Richard & Karen Treagus 9.40% Increasing
DE.MEM DEM $23.7M IOOF 7.70% Becoming
Speedcast SDA $412.4M IOOF 5.03% Becoming
Atmos AMS $168.7M IOOF 8.03% Increasing
Netlinkz NET $279.8M Reef Investments 7.05% Becoming
Musgrave Minerals MGV $24.0M Westgold Resources 16.78% Increasing
Eagle Mountain Mining EM2 $15.6M Charles Bass 42.36% Increasing
Clean Seas SeaFood CSS $76.0M IFM Independent Fund Management 7.22% Becoming
Genetic Technologies GTG $19.0M Jimmy Thomas 5.20% Becoming
Stemcell United SCU $10.3M Jimmy Thomas 5.00% Becoming
AdAlta 1AD $21.8M Platinum Asset Management 8.52% Increasing
Superior Lake Resources SUP $19.5M Tribeca Investment Partner 5.26% Increasing
Zenith Energy ZEN $80.6M Pendal Group 7.76% Increasing
Smart Marine Systems SM8 $6.2M Paul Guilfoyle 6.36% Increasing
Speedcast SDA $453.1M IOOF 8.69% Increasing
Matador Mining MZZ $22.6M Grant Davey 5.91% Becoming
SKY Network Television SKT $433.9M Accident Compensation Corporation 6.18% Increasing
Hot Chili HCH $41.7M Taurus Funds Management 13.20% Increasing
Tanga Resources TRL $2.6M BPM Capital 5.03% Becoming
Capricorn Metals CMM $135.8M Clark Family Trust 6.62% Becoming
Fiji Kava FIJ $5.6M Great Southern Flour Mills 7.17% Increasing
Stanmore Coal SMR $366.8M Matthew Latimore 19.86% Increasing
Speedcast SDA $412.4M Portsea Asset Management 15.02% Increasing
Elsight ELS $41.2M Li Kwok Po David 5.20% Becoming
Superior Lake Resources SUP $19.5M Ilwella 5.32% Becoming
Saunders International SND $32.5M Naos Asset Management 19.47% Increasing
Pivotal Systems PVS $90.8M LHC Capital Partners 14.17% Increasing
Visioneering Technologies VTI $24.0M Regal Funds Management 15.50% Increasing
Emerge Gaming EM1 $16.4M VBS Exchange 7.03% Becoming
Iselect ISU $149.3M Burgundy Asset Management 7.13% Increasing
Strategic Energy Resources SER $5.7M Zhongming Hong 8.25% Becoming
XPlore Wealth XPL $31.2M Donald Sharp 11.69% Increasing
Pacifico Minerals PMY $13.9M Villiers Queensland 13.25% Increasing
Cogstate CGS $24.2M Australian Ethical Investment 16.09% Becoming
SKY Network Television SKT $433.9M Jupiter Asset Management 9.90% Increasing

Sellers

Back in March, Wilson Asset Management bought a 13 per cent stake in Yowie (ASX:YOW) and Keybridge Capital, worried it was making a play, successfully obtained an “unacceptable circumstances” declaration from the Takeovers Panel. ASIC has now sold a third of that stake, but still holds 8 per cent.

The two ‘sell outs’ occurred in Impedimed (ASX:IPD), with Uni Super selling its $253,000 stake, and At0mos, with Imagination Technologies selling its $10.5m worth of shares.

Among fund managers that ceased to be substantial but kept some holdings were Indus Capital Partners which reduced its stake in Speedcast to 3 per cent by selling $17m in shares. Also Pendal Group ceased to be a substantial holder in City Chic Collective (ASX:CCX).

Invesco still owns 10.52 per cent of industrial stock Cardno (ASX:CDD) but sold over $10m in shares in recent days.

Company Code Market Cap Holder Current Stake Status
CoAssets CA8 $24.8M Getty Goh Te-Win 20.89% Decreasing
CoAssets CA8 $24.8M Seh Huan Kiat 16.77% Decreasing
Atmos AMS $168.7M Imagination Technologies 0% Ceasing
Fatfish Blockchain FFG $11.8M Arena Investors 9.01% Decreasing
Speedcast International SDA $412.4M Indus Capital Partners 3% Ceasing
Mach7 M7T $80.3M Australian Ethical Investment 4.65% Ceasing
Metals X MLX $161.9M IOOF 7.65% Decreasing
Speedcast International SDA $412.4M Challenger 10.41% Decreasing
Ausmex Mining Group AMG $48.0M Bestvale Superannuation Fund 4.99% Ceasing
Cardno CDD $406.5M Invesco Australia 10.52% Decreasing
Hub24 HUB $729.5M Fidelity 4.82% Ceasing
Impedimed IPD $51.3M Uni Super 0% Ceasing
Swick Mining Services SWK $54.4M Rosanne Swick 4.69% Ceasing
Atomos AMS $208.1M Ellerston Capital 9.86% Decreasing
City Chic Collective CCX $361.4M Pendal Group 4.45% Ceasing
Yowie Group YOW $17.0M ASIC 8.06% Decreasing
Eclipx Group ECX $490.0M Vinva Asset Management 4.95% Ceasing