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Trading Places: Wilson Asset Management has backed these 2 recent IPOs to be late bloomers
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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
| Company | Code | Market Cap | Holder | Stake | Status |
|---|---|---|---|---|---|
| Alice Queen | AQX | $13.9M | Morris Family | 6.99% | Increasing |
| Mobecom | MBM | N/A | Ditm Holdings | 5.70% | Becoming |
| RMG | RMG | N/A | RMG | 18.15% | Increasing |
| Oliver's Real Food | OLI | N/A | Pure Asset Management | 5.54% | Becoming |
| Oliver's Real Food | OLI | N/A | Gelba - Martin Green | 10.38% | Increasing |
| GrainCorp | GNC | $1.1B | Ethical Partners Funds Management | 7.64% | Increasing |
| St Barbara | SBM | $1.3B | Schroder | 5.64% | Becoming |
| Maggie Beer | MBH | $129.7M | Ellerston Capital | 5.39% | Increasing |
| Lynch Group | LGL | $452.9M | Wilson Asset Management | 5.51% | Becoming |
| Swoop | SF1 | N/A | William Reid | 13.37% | Increasing |
| KGL Resources | KGL | $278.5M | Paradice Investment Management | 6.35% | Increasing |
| De Grey | DEG | $2.0B | Invesco | 5.19% | Becoming |
| DDH1 | DDH | $387.4M | Wilson Asset Management | 5.34% | Becoming |
| Victory Offices | VOL | $18.0M | Hart Capital Partners | 6.46% | Becoming |
| Over The Wirre | OTW | $278.2M | Naos Asset Maangement | 16.68% | Increasing |
| Atlas Arteria | ALX | $5.7B | Solaris Investment Management | 5.27% | Becoming |
| Uscom | UCM | $25.5M | Smart Top Overseas | 20.96% | Increasing |
| Wiluna Mining Corporation | WMX | $154.7M | Delphi | 37.53% | Increasing |
| Predictive Discovery | PDI | $97.3M | Capital Di | 8.75% | Increasing |
| Maggie Beer | MBH | $140.0M | Geoff Wilson | 5.56% | Increasing |
| St Barbara | SBM | $1.3B | L1 Capital | 6.04% | Increasing |
| Red 5 | RED | $387.1M | Regal Funds Management | 6.29% | Increasing |
| Cycliq | CYQ | $476K | Merchant Funds Management | 12.49% | Increasing |
| DUG Technology | DUG | $109.4M | Perennial Value Management | 14.88% | Increasing |
| Viva Leisure | VVA | $178.7M | Perennial Value Management | 7.38% | Increasing |
| Southern Cross Electrical Engineering | SXE | $129.0M | Perennial Value Management | 6.44% | Increasing |
| Clean Seas Seafood | CSS | $74.0M | Bonafide Wealth Management | 15.50% | Increasing |
| SomnoMed | SOM | $191.7M | TDM Growth Partners | 25.83% | Increasing |
| Calix | CXL | $443.9M | Regal Funds Management | 6.69% | Increasing |
| Carpentaria Resources | CAP | $64.5M | Regal Funds Management | 12.43% | Increasing |
| Jindalee Resources | JRL | $153.3M | Perennial Value Management | 5.04% | Becoming |
| Boom Logistics | BOL | $62.0M | Collins St Asset Management | 11.70% | Increasing |
| Atlas Arteria | ALX | $5.9B | Pinnacle Investment Management | 5.30% | Becoming |
| Equus Mining | EQE | $26.0M | Tribeca Investment Partners | 8.84% | Increasing |
| Enero Group | EGG | $238.3M | Regal Funds Management | 14.86% | Increasing |
| Cyprium Metal | CYM | $183.8M | Paradice Investment Management | 8.52% | Increasing |
| Scout Security | SCT | $11.1M | EGP Capital | 9.90% | Increasing |
| 3P Learning | 3PL | $184.1M | Viburnum Funds | 14.12% | Increasing |
| Zeotech | ZEO | $100.1M | LL&P - Andrew Solomons | 6.22% | Increasing |
| Mobilicom | MOB | $17.9M | Psagot Provident Funds | 18.89% | Increasing |
| 3P Learning | 3PL | $184.1M | Australian Ethical | 7.96% | Increasing |
| Victory Offices | VOL | $18.4M | Hart Capital Partners | 7.98% | Increasing |
Wilson Asset Management is one of the more notable ASX focused fund managers, owning shares in many ASX companies as well as a portfolio of ASX-listed Listed Investment Companies (LICs).
In recent days Wilson Asset Management became a substantial holder of two ASX shares. First, mineral drilling contractor DDH1 Limited (ASX:DDH) which it crossed the threshold with multiple trades adding up to $1.1 million on May 26, and second floral group Lynch (ASX:LGL) which it became a substantial holder of with a $2.3 million trade.
Both companies are relatively new ASX listees that have under-performed since listing but are nearing their IPO prices once more. And Wilson Asset Management has a history of picking late-blooming IPOs having taken a punt on Dusk Group (ASX:DSK) before it went on a run.
Wilson’s boss Geoff Wilson increased his personal stake in food company Maggie Beer (ASX:MBH), buying $1.4 million in shares, and Ellerson Capital bought another $1.38 million. The pair own approximately 5.5 per cent each.
As Oliver’s Real Foods (ASX:OLI) fights for financial and ASX survival, two shareholders made $600,000 trades. Pure Asset Management and Gelba – the investment vehicle of non-executive director Martin Green – upped their stakes.
Mobilicom (ASX:MOB) received its promised $3.65 million investment from Israeli pension fund Psagot which is nearly 19 per cent of the company.
Purchases made by Perennial Value Management included US lithium play Jindalee Resources (ASX:JRL) and supercomputing stock Dug (ASX:DUG).
And Australian Ethical upped its stake in edtech 3P Learning (ASX:3PL) to nearly 8 per cent.
Sellers
| Company | Code | Market Cap | Holder | Current Stake | Status |
|---|---|---|---|---|---|
| Event Hospitality and Entertainment | EVT | $2.1B | Perpetual | 11.53% | Decreasing |
| Retail Food Group | RFG | $161.4M | Regal Funds Management | 14.60% | Decreasing |
| Anteris Technologies | AVR | $46.4M | Mercer St Global Opportunities Fund | <5% | Ceasing |
| IXUP | IXU | $133.2M | Regal Funds Management | 6.94% | Decreasing |
| Lithium Power | LPI | $58.8M | Regal Funds Management | 9.73% | Decreasing |
| Great Northern Minerals | GNM | $15.5M | Jetosea | 8.51% | Decreasing |
| Janison | JAN | $177.0M | Perennial Value Management | 8.60% | Decreasing |
| Hydrix | HYD | $26.1M | Perennial Value Management | 6.64% | Decreasing |
| John Lyng Group | JLG | $977.1M | QVG Capital | 6.35% | Decreasing |
| Uniti | UWL | $2.0B | QVG Capital | 5.22% | Decreasing |
| Calix | CXL | $443.9M | Perennial Value Management | 5.58% | Decreasing |
| Lithium Power | LPI | $58.8M | Regal Funds Management | 8.41% | Decreasing |
| Vocus Group | VOC | $3.4B | Yarra Managament | <5% | Ceasing |
| Tyro Payments | TYR | $2.0B | Fidelity | <5% | Ceasing |
As the takeover of telco stock Vocus (ASX:VOC) looms, Yarra Management opted to cash out, parting ways with $34 million in shares.
Read MoreInitial Public Offering - IPO
