ASX Today, page-1609

This L5/XT (late) off-market cross trade is interesting. That is a large cross trade. We may see surprising consequences of this cross trade.

There are only 6 holders who hold over 26m shares on the current Top 20 holder list.

First one is TG.

The 2nd one is JP Morgan Nominees, holding 98m shares. Because JPM has never lodged a substantial holder notification that means there are multiple holders in that account.

The 3rd and 5th on list belongs the same person; Graham Kluck.

The 4th is Citicorp, may belong to multiple holders.

Maybe a new holder accumulated some shares since Dec.2 (the date of current Top Holder on LTR web site) in 2 differetn accounts and now has transferred them to the main account.

Maybe Janus Henderson Fund or Australian Super have organised to acquire some off-market shares. We may see one or both of them on the Top 20 list soon. (We already know JH fund mentioned that they owned LTR shares. And I can't imagine if Aust.Super is not buying LTR shares atm).

We will wait and see.