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.


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.

CompanyCodeMarket CapHolderStakeStatus
Eureka Group HoldingsEGH$61.0MSalt Funds Management7.25%Increasing
Smart Marine SystemsSM8$6.2MSchaffer Corporation6.28%Becoming
BTC HealthBTC$21.0MRichard & Karen Treagus9.40%Increasing
NetlinkzNET$279.8MReef Investments7.05%Becoming
Musgrave MineralsMGV$24.0MWestgold Resources16.78%Increasing
Eagle Mountain MiningEM2$15.6MCharles Bass42.36%Increasing
Clean Seas SeaFoodCSS $76.0MIFM Independent Fund Management7.22%Becoming
Genetic TechnologiesGTG$19.0MJimmy Thomas5.20%Becoming
Stemcell UnitedSCU$10.3MJimmy Thomas5.00%Becoming
AdAlta 1AD$21.8MPlatinum Asset Management8.52%Increasing
Superior Lake ResourcesSUP$19.5MTribeca Investment Partner5.26%Increasing
Zenith EnergyZEN$80.6MPendal Group7.76%Increasing
Smart Marine SystemsSM8$6.2MPaul Guilfoyle6.36%Increasing
Matador MiningMZZ$22.6MGrant Davey5.91%Becoming
SKY Network TelevisionSKT$433.9MAccident Compensation Corporation6.18%Increasing
Hot ChiliHCH$41.7MTaurus Funds Management13.20%Increasing
Tanga ResourcesTRL$2.6MBPM Capital5.03%Becoming
Capricorn MetalsCMM$135.8MClark Family Trust6.62%Becoming
Fiji KavaFIJ$5.6MGreat Southern Flour Mills7.17%Increasing
Stanmore CoalSMR$366.8MMatthew Latimore19.86%Increasing
SpeedcastSDA$412.4MPortsea Asset Management15.02%Increasing
ElsightELS$41.2MLi Kwok Po David5.20%Becoming
Superior Lake ResourcesSUP$19.5MIlwella 5.32%Becoming
Saunders InternationalSND$32.5MNaos Asset Management19.47%Increasing
Pivotal SystemsPVS$90.8MLHC Capital Partners14.17%Increasing
Visioneering TechnologiesVTI$24.0MRegal Funds Management15.50%Increasing
Emerge GamingEM1$16.4MVBS Exchange7.03%Becoming
IselectISU$149.3MBurgundy Asset Management7.13%Increasing
Strategic Energy ResourcesSER$5.7MZhongming Hong8.25%Becoming
XPlore WealthXPL$31.2MDonald Sharp11.69%Increasing
Pacifico MineralsPMY$13.9MVilliers Queensland13.25%Increasing
CogstateCGS$24.2MAustralian Ethical Investment16.09%Becoming
SKY Network TelevisionSKT$433.9MJupiter Asset Management9.90%Increasing


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.

CompanyCodeMarket CapHolderCurrent StakeStatus
CoAssetsCA8$24.8MGetty Goh Te-Win20.89%Decreasing
CoAssetsCA8$24.8MSeh Huan Kiat16.77%Decreasing
AtmosAMS$168.7MImagination Technologies0%Ceasing
Fatfish BlockchainFFG$11.8MArena Investors9.01%Decreasing
Speedcast InternationalSDA$412.4MIndus Capital Partners3%Ceasing
Mach7M7T$80.3MAustralian Ethical Investment4.65%Ceasing
Metals XMLX$161.9MIOOF7.65%Decreasing
Speedcast InternationalSDA$412.4MChallenger10.41%Decreasing
Ausmex Mining GroupAMG$48.0MBestvale Superannuation Fund4.99%Ceasing
CardnoCDD$406.5MInvesco Australia10.52%Decreasing
ImpedimedIPD$51.3MUni Super0%Ceasing
Swick Mining ServicesSWK$54.4MRosanne Swick4.69%Ceasing
AtomosAMS$208.1MEllerston Capital9.86%Decreasing
City Chic CollectiveCCX$361.4MPendal Group4.45%Ceasing
Yowie GroupYOW$17.0MASIC8.06%Decreasing
Eclipx GroupECX$490.0MVinva Asset Management4.95%Ceasing