don't limit it at Panterra, I haven't.
as for the Top 20, IMO based upon the data that seems to be all about positioning and getting set, and once set getting ready to exit in part ?, especially the strategy of custodial, I've shared the data below for whoever wants to form their own opinons or offer new ones.
But the top 20 is also not the Top 20 as such, after you make adjustments for holdings for the same controlling party and also considering that multiple holders are likely represented in the custodials.
so here's the custodial plus others recently announced (to be voted on) showing their movements data, everyone can form their own opinions, this covers the last 12 months and these smaller subset of 'holdings' is itself over 1bn shares and sits around 50% of SOI by my calcs.
Legend:
(for the right most period)
- pale pink - BNP Paribas IBKR nominees
- hot pink - Citicorp Nominees
- dark blue - Monex Boom (David O'Neil / Asean Deep Value Fund)
- royal blue - BNP Paribas CLEARSTREAM
- grey - Moonstar (Brian)
- mustard - BNP Paribas Nominees
- olive green - Davie O'Neil (personal but disclosed under the Asean Deep Value Fund substantial)
(for the second most right period - because these shifted into the overall custodial totals before close of business 25th March)
- light blue - Lucerne Enterprises
- teal green - Allowside Pty Ltd
the data is the data and it shows quite the accumulation in total quantity over the 12 months, plus I left out Hawthorne Pty Ltd (Brian) by mistake too for another 25m shares which would make it 1.1bn shares of the 2.1bn on issue
these group of holders alone have more than doubled down and seem mostly intent on doing so under the cover of custodial, they've not only participated in raises along the way but have been hovering up sellers too - that's disclosed in some of the substantial holders increases.
Even simply focussing on the last 4 weeks period since the $1m strategic raise, the total has been gradually increasing.
Where does the con note selling overlay onto this timeline ?
I encourage other shareholders to form their own opinions for sure, it'd be interesting to hear them.
(20min delay)