Ann: Appendix 4C - quarterly-WNR.AX, page-9

Hi mate,
Thanks for your reply. I have been following their investments since they listed the LIC through the monthly NTA reports and tracked the end result for some of their investments. There is significant rereate like BSA, MNF or they negotiate a take over such as CIX. Happy with both outcomes. You are right, they are long term holders and I am happy to hold for another 2-3 years. They will probably increase their stake as stock becomes available. But good to have quality insto's with a long term view and who can provide strategic input into the company. I think the management of Wingara's long term ploy might be to get bought out by a larger player.
Anyways, heaps to read on the blog - enjoying it. Thanks