You understand that to support Australian companies they need to...

You understand that to support Australian companies they need to sell down some of their positive performing assets to be able to contribute to others when they are looking to raise capital. They shouldn't just rely on net contributions from members and never sell a share once bought. That would be highly inefficient and arguably not in the best interests of the majority of members.

There is a big difference between supporting Australian companies and supporting the shareprice of individual companies. Having funds available to directly contribute to equity is arguably more supportive than keeping SPs as high as possible for companies to raise capital via other avenues.

How do you suppose Aus Super would have been able to support PLS's acquisition if they just held tight on every holding? And why would it be at all prudent to not reduce the holdings after the SP has increased by multiples impacting the weight of the position?

Reality is that they made a big return on the modest percentage of their holding they disposed of and of course hindsight is 20/20.