Glennon Small Companies Reports -9.44% October 2026 Return with NTA of $0.63 Before Tax

Mukul

13 November 2026 03:35 PM AEDT

Glennon Small Companies Reports -9.44% October 2026 Return with NTA of $0.63 Before Tax

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Glennon Small Companies Limited (ASX:GC1) has disclosed its monthly portfolio update for October 2026, reporting a net tangible asset value of $0.63 per share before tax and $0.64 per share after tax, with the portfolio recording a return of -9.44% against its benchmark, the S&P/ASX Small Ordinaries Accumulation Index, which returned -6.43% over the same period.

Key Points

NTA before tax was $0.63 per share and NTA after tax was $0.64 per share as at 31 October 2026
Share price as at 31 October 2026 was $0.39, with cash weighting of 47.35% and 19 holdings
Portfolio returned -9.44% in October 2026 versus the benchmark return of -6.43%
The company exited positions in Catalyst Metals and SKS Technologies during October, with cash rising from 11% to 47% of the portfolio at month end
The RBA raised the cash rate to 4.85% on 3 November on a split 6–3 vote, its fifth increase for the year

October 2026 Portfolio Performance and Key Contributors

The portfolio's key contributor for October 2026 was Amplitude Energy Limited (ASX:AEL), which returned +10.09%. Amplitude Energy released a record September quarter on 19 October, with production rising 10% on the June quarter to 7.51 PJe and revenue rising 18% to $83.3 million, supported by an average realised gas price of $10.69/GJ. The Juliet-1 well made a commercial gas discovery, and a final investment decision was taken on the East Coast Supply Project, targeting first gas in 2028. FY27 capital expenditure guidance was raised to $320–390 million. Superloop Ltd (ASX:SLC) also contributed positively, returning +5.06%, with the company reporting FY26 underlying EBITDA of $122.7 million, up 33%.

Key Detractors and Portfolio Repositioning in October 2026

Catalyst Metals Limited (ASX:CYL) was the largest detractor, contributing -1.52% to portfolio performance. The company reported September quarter production of 22,231 ounces, down from 31,886 ounces in the June quarter, due to staffing shortages and an extended shutdown of the Plutonic processing plant. It also lowered its FY27 production outlook. The holding was exited on 23 October. SKS Technologies Group Limited (ASX:SKS) contributed -1.25%, with shares falling sharply after founding family members sold 10 million shares on market, representing approximately 30% of the family's holding. The holding in SKS was sold in mid-October. Southern Cross Electrical Engineering and Duratec positions were also reduced during the month.

Macro Conditions and Portfolio Positioning at 31 October 2026

At 31 October 2026, cash represented 57% of gross assets following the sale of construction and growth holdings during the month. The filing states that by 12 November cash had reduced to approximately 45% of gross assets. The S&P/ASX Small Ordinaries Index ended October at 3,148. Consumer sentiment fell to 80.4 in October and declined further to 78.2 in November, described in the filing as the lowest level in four years. Confidence among mortgage holders fell 11.6% in November to 68.1, stated to be the lowest recorded level for this group since Westpac's measures began in 1994. Brent crude ended October above US$110, while gold steadied at around US$4,000 per ounce and copper was near US$13,900 per tonne.

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