Macquarie Group takes substantial stakes in three companies

Macquarie Group Limited (MQG) has become a substantial holder in Bravura Solutions Limited, Graincorp Limited, and Tabcorp Holding Limited, with all three notices of initial substantial holder effective December 17, 2025. In Bravura Solutions, MQG and its controlled entities now hold 22,751,448 ordinary shares, representing 5.08% of the voting power. This position was built through on-market purchases by Macquarie Investment Management Australia Limited (MIMAL) and Macquarie Investment Management Global Limited (MIMGL) between December 16 and 17, 2025, with individual share prices ranging from AUD 2.49 to AUD 2.54.

For Graincorp Limited, Macquarie Group's voting power increased to 9.84% with 21,883,251 ordinary shares, up from a previous notice of 8.43% (18,746,209 shares). This change reflects a series of stock purchases by Macquarie Bank Limited (MBL), MIMAL, and MIMGL, as well as some sales by MBL between November 13 and December 17, 2025. Similarly, in Tabcorp Holding Limited, Macquarie Group secured a 5.01% voting power with 114,646,686 ordinary shares, also effective December 17, 2025. This was established through a combination of stock purchases and sales by MBL, MIMAL, MIMGL, and Macquarie Investment Services Limited (MISL) throughout November and December 2025.

These transactions indicate a concerted effort by Macquarie Group to establish and increase significant holdings across these diverse Australian companies, utilizing various on-market and off-market mechanisms, including securities lending agreements, to manage its positions.