Barramundi's NAV dips as warrants weigh on future value

Barramundi's undiluted Net Asset Value (NAV) stood at $0.6858 as of October 31, 2025, representing a 2% discount to its share price close of $0.6970 on the same date. This is a decrease from the $0.6935 NAV recorded on October 29, 2025, when the share price closed at $0.6930. The reported NAV is unaudited and accounts for fees and tax.

As of October 31, 2025, Barramundi had 85,179,108 warrants (BRMWI) on issue, exercisable on August 7, 2026. The exercise price of each warrant is $0.70, reduced by dividends declared between August 7, 2025, and the August 7, 2026 exercise price announcement. Dividends totalling 1.41 cents per share have been declared to date, with three more expected before the exercise price announcement.

Barramundi's five largest portfolio holdings as of October 31, 2025, include CSL (7%), Xero (6%), WiseTech (6%), Car Group (6%), and Macquarie Group (6%). The company, managed by Fisher Funds, invests in Australian growth companies. It was listed on the NZX Main Board on October 26, 2006.