Trading Places is Stockhead’s recap of the buys and sells of ASX small cap shares by fund managers and other famous investors over the last fortnight.

Specifically, Stockhead tracks substantial shareholder movements, being shareholders 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.

 

Buyers

It’s been a tough time for Nuix (ASX:NXL) ever since it listed. Cuts to its prospectus forecasts led to an ASIC investigation and the scalps of its CFO, co-founder and the CEO.

But taking a punt on the company was ECP Asset Management which crossed the threshold with three purchases worth over $3 million last week.

Speaking of underperforming IPOs, another is Pepper Money (ASX:PPM) which is below its IPO price. But buying more shares was AustralianSuper, which now holds 7.88 per cent.

Arguably the most discussed substantial shareholder mover was Solomon Lew who upped his stake in Myer (ASX:MYR) to over 15 per cent, which led to speculation he might overthrow the board. The speculators were right.

The most notable trades Regal Funds Management made included becoming a substantial shareholder of telco Tuas (ASX:TUA) and fintech Novatti (ASX:NOV).

Perennial increased its holdings in BNPL stock Laybuy (ASX:LBY) to just over 10 per cent, buying nearly $1.6 million on market earlier this month.

Ethical Funds Partners Management increased its stakes in property developer Eureka Group (ASX:EGH) and Australian Clinical Labs (ASX:ACL).

 

Sellers

Investors Mutual ceased to be a substantial holder of casino operator Skycity (ASX:SKC), having sold over $3 million in shares back on July 2.