We made a few small changes to our Spaceship Universe Portfolio this past quarter, so let's get into the reasons why…
Spaceship Universe Portfolio
Sold: Volpara Health Technologies
Volpara Health Technologies specialises in AI-powered software tools designed to assist healthcare pros in the assessment and management of breast cancer screening and early detection. Over the company's lifetime, more than 16.5 million women across 40 countries have had their breast density assessed.
Late last year, Lunit, a medical AI company focused on fighting cancer, made a bid to acquire Volpara Health for $1.15 cash per share, which was seen as a good deal by both the board and major shareholders. The bid represented a significant premium over Volpara Health's volume weighted price in the three months before the bid.
We reduced our position in Volpara Health following the announcement and have since sold out of Volpara Health completely.
Sold: Altium
Altium is a software company that creates tools that "empower and connect" printed circuit board (PCB) designers, part suppliers and manufacturers so they can develop and manufacture electronics "faster and more efficiently." A PCB uses copper conductors to create electrical connections between components, and they're integral parts of many of the electronics we use every day.
Altium was also on the receiving end of a bid, from a Japanese company called Renesas for a cash price of $68.50 per share. This bid was also a premium over Altium's volume weighted price in the three months before the bid. As such, we have sold out of Altium.
Sold: Nanosonics
Nanosonics is an Australian infection prevention company. The company is known for successfully developing a unique automated disinfection device, known as the 'trophon', which was one of the biggest innovations in its field in more than 20 years.
We've owned Nanosonics since the Spaceship Universe Portfolio first launched, but we decided to remove it due to ongoing concerns and delays around its new product, Coris, which was intended to expand its range of technology.
Additionally, the core business, which revolves around the trophon device, is facing distribution challenges; the company transitioned from selling through General Electric last year to a direct salesforce.
Given the ongoing issues, we have sold out of Nanosonics.
Spaceship Earth Portfolio
We didn't make any additions or removals to the Spaceship Earth Portfolio in the quarter.
Spaceship Origin Portfolio
For customers in the Spaceship Origin Portfolio, things are a little different.
The Spaceship Origin Portfolio is made up of around 100 of some of the largest ASX-listed companies by market capitalisation, and around 100 of some of the largest global companies by market capitalisation.
If a company moves in or out of the Spaceship Origin Portfolio, it will generally be because its market capitalisation has changed, not because we have decided to buy or sell it.
One or more of the Spaceship Voyager portfolios invest in Altium at the time of writing. Please refer to the Spaceship app or our website for more information on what each portfolio invests in.
Important! We’re sharing with you our thoughts on the companies in which Spaceship Voyager invests for your informational purposes only. We think it’s important (and interesting!) to let you know what’s happening with Spaceship Voyager’s investments. However, we are not making recommendations to buy or sell holdings in a specific company. Past performance isn’t a reliable indicator or guarantee of future performance.
