Marlin Global NAV dips slightly, portfolio holdings revealed

Marlin Global (NZX:MLN) reported an undiluted net asset value (NAV) of NZD $0.8724 per share as of April 15, 2025, representing a slight decline compared to its share price of NZD $0.91 and a 4% premium. The previous NAV, recorded on April 8, 2025, was NZD $0.8397 per share, with a share price of NZD $0.88, resulting in a 5% premium. The reported NAV is unaudited, net of fees and tax, and calculated after deducting treasury stock of 158,664 shares acquired under the company's buyback programme. The undiluted NAV excludes any impact from the future exercise of warrants (MLNWG), of which 53,729,692 are currently on issue and exercisable on May 16, 2025, at a price of NZD $0.96 each. As of April 15, 2025, Marlin's top five portfolio holdings include Amazon (8%), Microsoft (7%), ASML Holding (6%), Mastercard (5%), and Dexcom (5%).