I have sold about a third of mine on the way up (i was all in at...

I have sold about a third of mine on the way up (i was all in at one stage), if it gets to $4.50 i will be tempted to diversify some more. The announcements about "capital allocation and corporate structure" at mid year results could be a new growth trigger, so i wouldnt change anything till then.

Also the investment profile has changed a lot over the last few years, its very stable now, a safe haven in the sector compared to its peers, so its not unreasonable for it be getting more expensive imo.

If Vocus becomes more overpriced than TPG then that would be a sell trigger for me, but a long way to go before that happens.