BlackRock Changes Substantial Holding in Northern Star Resources With 85-Page Transaction Annexure

Shwetambri Chauhan

10 November 2026 12:56 PM AEDT

BlackRock Changes Substantial Holding in Northern Star Resources With 85-Page Transaction Annexure

Image Source: Krish Capital Pty Ltd

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Northern Star Resources (ASX:NST) has been the subject of a Notice of Change of Interests of Substantial Shareholder lodged by BlackRock, Inc. and its associated entities, with an 85-page annexure detailing a large volume of on-market trades, collateral transfers, and in-specie transactions across multiple BlackRock group entities during the period from 2 April 2026 through subsequent dates.

Key Points

BlackRock filed a substantial shareholder change notice (Form 604) in relation to Northern Star Resources (ASX:NST), with an annexure spanning 85 pages.
Multiple BlackRock group entities conducted on-market buys and sells of NST ordinary shares at prices ranging from AUD 21.91 to AUD 23.93 per share across the recorded transaction dates.
Transactions included on-market trades, collateral transfers, and in-specie movements, with individual transaction volumes ranging from single-digit shares to millions of shares.
A collateral transfer of -3,905,533 ordinary shares was recorded for BlackRock Advisors (UK) Limited on 5 April 2026, representing the largest single transaction disclosed in the available extract.

BlackRock Entity Transaction Activity on 2 April 2026

On 2 April 2026, a range of BlackRock group entities executed multiple transactions in Northern Star Resources ordinary shares. BlackRock Investment Management (UK) Limited recorded an on-market sell of 5,237 shares at AUD 22.16, alongside several on-market purchases at prices including AUD 22.77 and AUD 22.38, with individual parcel sizes including 15,851, 2,179 and 204 shares. BlackRock Fund Advisors recorded an in-specie acquisition of 27,700 shares, while BlackRock Advisors (UK) Limited recorded a collateral transfer of -2,147,895 ordinary shares on the same date. BlackRock Investment Management (Australia) Limited, BlackRock Capital Management Inc., and BlackRock Financial Management Inc. also recorded transactions on that date.

Collateral Transfers Across 3 April to 7 April 2026

Between 3 April and 7 April 2026, several large collateral transfer transactions were recorded across BlackRock group entities. On 3 April 2026, BlackRock Advisors (UK) Limited received a collateral transfer of 496,675 shares, and BlackRock Investment Management (UK) Limited received 584,139 shares. On 5 April 2026, BlackRock Advisors (UK) Limited transferred out 3,905,533 shares and BlackRock Financial Management Inc. transferred out 117,274 shares. On 6 April 2026, BlackRock Investment Management (UK) Limited received 3,272,503 shares. On 7 April 2026, BlackRock Advisors (UK) Limited received 2,539,626 shares, while BlackRock Investment Management (UK) Limited transferred out 3,044,245 shares.

On-Market Trading Activity From 7 to 8 April 2026

On 7 April 2026, multiple BlackRock entities executed on-market purchases of Northern Star Resources ordinary shares at AUD 22.35 per share, with entities including BlackRock Investment Management (Australia) Limited, BlackRock Advisors (UK) Limited, BlackRock Financial Management Inc., and BlackRock Investment Management LLC participating. BlackRock Asset Management Canada Limited purchased 498 shares at AUD 22.50. On 8 April 2026, on-market purchases were recorded at prices including AUD 23.33, AUD 23.92, and AUD 23.93 per share, involving BlackRock Investment Management (UK) Limited, BlackRock Investment Management (Australia) Limited, and BlackRock Advisors (UK) Limited. The notice was authorised by Wilson Wen as Authorised Signatory.

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