Rangatira Annual Report 2025 - Flipbook - Page 10
Rangatira Investments
Portfolio
The portfolio has not changed too dramatically
over the last year – Northland Waste, Magritek and
BeGroup are our biggest holdings. While we don’t get
too concerned about the spread of sectors we are
involved with, we do think it is useful for shareholders
to understand the sectors that we are exposed to
at any one point in time.
Diversification has protected us, as changes in the
economy benefit some industries at the expense
of others. For this reason, we are conscious of the
mix of industries that we are invested in. While we
are moving towards having less direct investments
by number but increasing the amount we invest in
each one, we need to be wary of not being overly
concentrated in one industry or sector.
Portfolio breakdown
Magritek
BeGroup
Northland Waste
The high-level split of our current holding is
summarised below:
• Investment in the primary sector has increased
in value and due to further contributions to our
forestry and kiwifruit holdings so that we now
have 16% of the portfolio across seafood, farming,
forestry and kiwifruit.
• Healthcare makes up 17% which includes Boulcott
Hospital and BeGroup retirement villages.
• Infrastructure holdings, which is made up of Stuart
Drummond, NZ Scaffolding, Northland Waste and
Infratil is 19%.
• Consumer based products, including tourism
from Polynesian Spa and Rainbows End is 11%.
• Technology which includes our Venture Capital
investments and Magritek makes up 19% of the
portfolio.
• Our liquid portfolio, excluding Infratil, is made up
of listed NZ and Global stocks and Cash is 13%.
We are comfortable with the current mix, although
we would like to have more liquidity in time as we
are sanguine about the underlying economy in the
coming 24 months.
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Rainbow’s End
Boulcott Hospital
Polynesian Spa
NZS Group
Primary
Kiwifruit Orchards
Stuart Drummond
Primary
NZ Pastures
Primary
Fiordland Lobster
Venture Capital
Cash & Listed
