When the original Contango directors lost control of CTN to the...

When the original Contango directors lost control of CTN to the first mob of wide boys, I had a six figure holding.
It was painful at the time, but I am glad that I decided to sell out then and I am only sorry that I retained even a token holding.

At last count, NAOS have a 19.56% holding in BSA, which would be worth about $28m,
If all NAOS's BSA shares are in NSC, that would constitute about 25% of the NSC portfolio, .
BSA's SP has risen a bit through June and July, so NSC should have gained from that.
I haven't bothered to follow NAOS's other holdings but there must be some real dogs in their NSC portfolio.

I seem to remember that when NAOS took over, they spruiked their concentrated portfolio strategy.
We would have a done a lot better in an XSO index fund.
Indeed, we would probably do a lot better if NAOS employed a dart throwing monkey as portfolio manager.
Whatever model they are using, it aint working.

Cheers