Marlin Global NAV at NZD 0.9104 on May 6, 2025

Marlin Global (NZX:MLN) reported an undiluted NAV of NZD 0.9104 per share as of May 6, 2025. This figure is calculated after deducting treasury stock of 158,664 shares acquired under the company's buyback program. The share price closed at NZD 0.91, indicating that the shares traded at NAV. The reported NAV excludes any impact from the future exercise of warrants (MLNWG); as of May 6, 2025, 53,729,692 warrants were outstanding, exercisable on May 16, 2025, at a price of NZD 0.96 each. The company's five largest portfolio holdings include Amazon and Microsoft, each representing 8% of the portfolio, followed by Mastercard, Intuitive Surgical Inc, and Alphabet, each representing 6%.