Thorney Opportunities Reports October 2026 NTA of 84.7 Cents, Buyback of 100,000 Shares

Sonal Goyal

10 November 2026 05:13 PM AEDT

Thorney Opportunities Reports October 2026 NTA of 84.7 Cents, Buyback of 100,000 Shares

Image Source: Krish Capital Pty Ltd

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Thorney Opportunities Ltd (ASX:TOP) has disclosed its investment update and net tangible asset report for October 2026, revealing an after-tax NTA of 84.7 cents per share as at 31 October 2026, compared with 88.5 cents per share as at 30 September 2026, while the company purchased 100,000 shares under its on-market share buyback program during the month.

Key Points

After-tax NTA of 84.7 cents per share as at 31 October 2026, down from 88.5 cents per share as at 30 September 2026
Before-tax NTA of 90.1 cents per share as at 31 October 2026, compared with 95.6 cents per share the prior month
TOP's investment portfolio recorded a one-month return of -4.58%, outperforming the S&P Small Ordinaries Accumulation Index return of -6.43% by 1.85%
100,000 shares purchased under the on-market share buyback program, which expires on 10 March 2027
Cash, cash equivalents and other deposits of $11.4 million, with prime broker and margin lending facilities undrawn

October 2026 NTA and Portfolio Performance

According to the filing, TOP's investment portfolio returned -4.58% for the one-month period ending 31 October 2026, while over one year the portfolio returned -10.81%. The three-year return stood at 11.23% and the since-inception return was 10.87%. The S&P Small Ordinaries Accumulation Index recorded a one-month return of -6.43%, a one-year return of -14.36%, a three-year return of 11.07%, and a since-inception return of 8.93%. Investment performance figures are calculated on a pre-tax NTA plus dividends basis and after accrued management fees. Figures are described as unaudited and approximate.

Key Portfolio Holdings and Sector Allocation

As at 31 October 2026, Southern Cross Electrical Engineering represented the largest portfolio holding at 13.3%, followed by 20 Cashews at 11.8% and COG Financial Services at 10.5%. Solvar accounted for 8.3% and Zip Co for 7.3%. The portfolio was negatively affected during October by declines in Southern Cross Electrical Engineering, ZipCo, SPC Global Holdings, and COG Financial Services. By asset type, 79.3% of the portfolio was allocated to ASX-listed securities, 13.2% to unlisted securities, and 7.5% to cash. The market capitalisation of TOP was disclosed at $88.9 million, with 166,220,782 shares on issue and a share price of 53.5 cents.

Share Buyback and Thorney Investment Group Shareholding

During October 2026, TOP purchased 100,000 shares under its on-market share buyback, a capital management program the filing states expires on 10 March 2027. The Thorney Investment Group and associates retains a disclosed shareholding interest of 36.2% in TOP. The company is managed by Thorney Investment Group under a long-term investment management agreement, with a management fee of 0.75% half yearly and a performance fee of 20% of net NTA increase over the high water mark in the base financial year. Dividends are paid half yearly on a fully franked basis.

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