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Salter Brothers Emerging Companies Ltd Fully Paid Ord. Shrs ASX:SB2

0 opened or increased1 held0 reduced or exitedlatest position by manager, past 12 months90 days: 0 increased, 0 reduced. 1 managers in total.

Position history by manager 1 managersSelect a point to see the comment

Opened or increasedHeldReduced or exited Start or end of the position not reported

20252026

31 Dec 2024 to today

Commentary Showing 2 of 5

DateManagerActionSummary

2 Mar 2026Wilson Asset ManagementHeldThe fund manager continues to hold Salter Brothers Emerging Companies because the company announced the successful exit of two unlisted investments within its investment portfolio, delivering a combined uplift of $7.4 million compared to the 31 December 2025 carrying values, equivalent to an estimated 8.8 cents per share increase in pre-tax NTA. Prior to the exits, unlisted investments accounted for approximately 17% of the total SB2 investment portfolio. The manager notes that as part of initial investment research, they assessed the carrying value of the unlisted investments and expected realisations to provide a near-term catalyst for portfolio performance. While the SB2 share price closed up 3.5% for the week, it continues to trade at a meaningful discount to NTA. WAM Strategic Value owns 19.8% of SB2 as disclosed in their substantial holder notice on 23 December 2025.

Newsletter, price recorded $0.75

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28 Feb 2026Wilson Asset ManagementHeldThe fund manager continues to hold Salter Brothers Emerging Companies (SB2), a LIC focused on emerging Australian listed and unlisted securities under $500 million market cap at initial investment. While SB2's share price fell 5.1% in February, broadly in line with the 4.5% decline in the S&P/ASX Small Industrials Accumulation Index, the company announced the successful exit of two unlisted investments, delivering a $7.4 million uplift versus 31 December 2025 carrying values, equivalent to an estimated 8.8 cents per share increase in pre-tax NTA. The fund manager had previously identified expected realisations from unlisted holdings (around 17% of the portfolio) as a near-term catalyst, and notes SB2 still trades at a meaningful discount to NTA, with WAM Strategic Value holding 19.8% of SB2.

Monthly Report, price recorded $0.75

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3 more comments on SB2Pro shows every comment, with a link to each source document.

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First mention by manager

Price recorded at each manager's first comment

Price at first mentionThe share price recorded when each of 1 managers first commented on SB2.

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About Salter Brothers Emerging Companies Ltd Fully Paid Ord. Shrs

Industrials, Capital Markets

Salter Brothers Emerging Companies (ASX:SB2), a listed investment company, has been accumulated by WAM Strategic Value. In March 2026, Wilson Asset Management reported SB2 announced the successful exit of two unlisted investments in its portfolio, delivering value. Wilson described SB2 as a listed investment company focused on emerging Australian listed and unlisted companies, and noted that WAM Strategic Value increased its holding, with substantial holding notices released. Salter Brothers Emerging Companies operates in the Financials sector within the Capital Markets industry, and Thesis Tracker has captured 5 comments from 1 fund manager, Wilson Asset Management. Salter Brothers Emerging Companies invests in ASX-listed and unlisted companies with market values up to $500 million, aiming to generate long-term capital growth, and is managed by Salter Brothers, with holdings including small-cap technology, consumer and industrial businesses, and has traded at a discount to its net tangible assets.

Market cap: $47m
Price to earnings: Loss-making
Return on equity: -1.7%
Dividend yield: 5.6%
Price to book: 0.58x
Net margin: 341.7%
52-week range: $0.50 to $0.80

Company figures as of 15 Oct 2026. For information only.

Questions

Who is investing in Salter Brothers Emerging Companies Ltd Fully Paid Ord. Shrs (ASX:SB2)?

Fund managers including Wilson Asset Management have invested in Salter Brothers Emerging Companies Ltd Fully Paid Ord. Shrs (ASX:SB2).

What opportunities or catalysts do fund managers highlight for Salter Brothers Emerging Companies Ltd Fully Paid Ord. Shrs?

Wilson highlights successful exits from unlisted investments that realised value, and its growing holding positions WAM Strategic Value to benefit if SB2's discount to net tangible assets narrows.

What are the key risks to the Salter Brothers Emerging Companies Ltd Fully Paid Ord. Shrs investment thesis, according to fund managers?

The available commentary does not set out specific risks, though SB2's value depends on its small-cap and unlisted holdings and its discount may persist.

What does Salter Brothers Emerging Companies Ltd Fully Paid Ord. Shrs (ASX:SB2) do?

Salter Brothers Emerging Companies Limited (SB2) is an investment company focused on ASX-listed entities with market capitalisations up to $500 million. The fund's primary objective is to outperform the S&P/ASX Small Ordinaries Accumulation Index. By targeting smaller companies, SB2 seeks to deliver superior returns for investors through disciplined management of a diversified small-cap portfolio. This strategic focus makes SB2 a relevant vehicle for those seeking exposure to emerging Australian companies within the micro and small-cap market segments.

General information only. Thesis Tracker reports what named fund managers have published about ASX companies. It does not take into account your objectives, financial situation or needs, and is not financial product advice or a recommendation to buy, sell or hold any security.

11,356 comments from 164 managers on 761 companies, snapshot 15 Oct 2026.

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