I'm usually able to manipulate my CGT or trade within my...

I'm usually able to manipulate my CGT or trade within my superfund.

It isn't really possible to hold much in a stock as small as AL3 because it is too illiquid, and it's really a play thing. So my holding is fairly small only in the hundreds of thousands of shares. So i picked up a few tens of thousands of additional shares for free, whether that is worth it depends on what one considers significant.

However, having said that, in my view it is a mistake to forgo opportunities because they are small. Often these kinds of moves are very low risk and offer an opportunity to build just a little further. Imagine a portfolio of 10 stocks each with a 10% holding. A move like this would add 1% to the annual return. It doesn't sound like much, but often there are a few opportunities like this each year and if an investor can beat the market by a few percent each year then after a few years that becomes pretty significant.

Although AL3 represents a very small part of my portfolio, I try to be disciplined all of the time. There are always times when things go wrong so building in a little protection always make sense. Investing is hard, and when an easy win comes my way, no matter the size, I'll take it.

I run my whole portfolio like this. I follow about 50 stocks and own perhaps 15 of them at any one time. I flip between them when I see opportunities often making a 5-10 percent on trades. It doesn't sound like much but if one does even one trade like this across the whole portfolio per year, the returns are likely to turn out very well. This strategy has allowed me to beat the market by a few percent each year - last financial year I was +16%, the year before +19%, and YTD I am +14% - though these have been pretty stable years. The small wins might not sound like much but it adds up, particularly over decades.