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Top-20 shareholder analysis across NZX-listed companies. Tracks block holders, ownership concentration, cross-holdings networks, and year-over-year register changes from 2010–2028.
Entities with the largest aggregate shareholdings across all their NZX positions (latest year per issuer).
| # | Shareholder | Type | Companies | Aggregate % | Holdings |
|---|---|---|---|---|---|
| 1 | Custodial Services Limited | Individual | 53 | 387.2% | GNZ, ARG, SPK, POT, RYM +48 more |
| 2 | Forsyth Barr Custodians Limited | Individual | 37 | 231.5% | GNZ, ARG, SPK, POT, RYM +32 more |
| 3 |
Concentration metrics for each issuer, ranked by top holder percentage. High (>30%), Medium (15-30%), Low (<15%).
Breakdown of top-20 shareholder entries by entity type across the latest year data.
Entities that appear as top-20 shareholders in 3 or more NZX-listed companies. 88 cross-holding entities identified.
Companies with the largest year-over-year changes in top-5 shareholder concentration. Based on comparing the two most recent years of register data per issuer.
NZSA-style shareholder register analysis: total shareholders, top 20% concentration, largest holders, HHI index, director counts, and board independence across 107+ NZX companies.
Which fund managers hold multiple companies in the same NZX sector? Identify common institutional owners across sector peers for IR roadshow targeting and understanding institutional capital allocation.
Track institutional capital flows across the NZX market. Substantial holder position changes, fund manager activity heatmaps, company-level institutional ownership trends with sparklines, and top movers by position change.
Data sourced from publicly available records. Our datasets may not be complete. Automated analysis can produce errors. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz. For informational purposes only. Not investment advice.
| Company |
| 47 |
| 212.4% |
| ATM, GNZ, ARG, SPK, POT +42 more |
| 4 | HSBC Nominees (New Zealand) Limited | Nominee / Custodian | 34 | 199.3% | ATM, GNZ, ARG, SPK, POT +29 more |
| 5 | New Zealand Central Securities Depository Limited | Nominee / Custodian | 7 | 174.1% | ARB, ENS, OCA, SVR, WCO +2 more |
| 6 | Top 20 largest shareholders combined | Individual | 2 | 173.1% | MCY, VSL |
| 7 | New Zealand Depository Nominee Limited | Nominee / Custodian | 22 | 150.6% | GNZ, ARG, SKT, AFT, EBO +17 more |
| 8 | FNZ Custodians Limited | Individual | 48 | 149.0% | GNZ, ARG, SPK, POT, VCT +43 more |
| 9 | HSBC Custody Nominees (Australia) Limited | Nominee / Custodian | 19 | 147.1% | ATM, SPK, AFI, FPH, AIR +14 more |
| 10 | Citicorp Nominees Pty Limited | Nominee / Custodian | 18 | 120.1% | ATM, SPK, AFI, FPH, AIR +13 more |
| 11 | Citibank Nominees (New Zealand) Limited | Nominee / Custodian | 10 | 119.7% | GNZ, ARG, SKT, HLG, PGW +5 more |
| 12 | New Zealand Depository Nominee | Nominee / Custodian | 36 | 114.1% | ATM, SPK, POT, RYM, BLT +31 more |
| 13 | Robert George Tindall, Sir Stephen Tindall & Pupuke Trustee Limited | Other | 1 | 100.0% | WHS |
| 14 | Hickman Family Trustees Limited | Trust | 2 | 99.9% | RYM, HLG |
| 15 | Kevin James Hickman & Joanna Hickman | Other | 1 | 84.0% | HLG |
| 16 | JBWere (NZ) Nominees Limited | Nominee / Custodian | 16 | 81.6% | GNZ, ARG, FPH, CEN, SKT +11 more |
| 17 | Investment Custodial Services Limited | Nominee / Custodian | 7 | 79.0% | ARG, HLG, NZL, PFI, SKL +2 more |
| 18 | Chang Ku Ee | Individual | 1 | 77.4% | IPR |
| 19 | SENA & CO LIMITED | Company | 1 | 75.9% | 2CC |
| 20 | CDL Hotels Holdings New Zealand Limited | Company | 1 | 75.8% | MCK |
| Consumer Discretionary |
| Citibank Nominees (New Zealand) Limited |
| 97.0% |
| 433.0% |
| 61,999 |
| High |
| 3 | MCY | Utilities | Top 20 largest shareholders combined | 86.5% | 86.5% | 7,487 | High |
| 4 | VSL | Materials | Top 20 largest shareholders combined | 86.5% | 86.5% | 7,487 | High |
| 5 | IPR | Real Estate | Chang Ku Ee | 77.4% | 90.9% | 6,079 | High |
| 6 | 2CC | Financials | SENA & CO LIMITED | 75.9% | 265.9% | 21,894 | High |
| 7 | MCK | Consumer Discretionary | CDL Hotels Holdings New Zealand Limited | 75.8% | 75.8% | 5,744 | High |
| 8 | VCT | Utilities | Entrust | 75.1% | 82.8% | 5,664 | High |
| 9 | RBD | Consumer Discretionary | Finaccess Restauracion, S.L. (formerly Global Valar, S.L.) | 75.0% | 75.0% | 5,625 | High |
| 10 | ARB | Industrials | New Zealand Central Securities Depository Limited | 74.1% | 81.8% | 5,519 | High |
| 11 | TGG | Consumer Staples | BayWa Global Produce GmbH | 74.0% | 95.8% | 5,876 | High |
| 12 | RTO | Information Technology | Blackwell Global Group Limited | 71.7% | 89.9% | 5,247 | High |
| 13 | AFT | Healthcare | Hartley Atkinson & Colin Mckay | 68.7% | 83.6% | 4,803 | High |
| 14 | SPN | Industrials | Southland Regional Council | 66.5% | 82.4% | 4,501 | High |
| 15 | BFG | Consumer Discretionary | MASON ROBERTS HOLDINGS LIMITED | 66.3% | 80.9% | 4,463 | High |
| 16 | DGL | Consumer Staples | Jakov Nikola Delegat, Rosamari Suzan Delegat and BPM Trustees (DSPT) Limited | 66.1% | 76.2% | 4,472 | High |
| 17 | SML | Consumer Staples | Bright Dairy Holding Limited | 65.3% | 87.8% | 4,659 | High |
| 18 | WIN | Real Estate | Korama Limited | 55.1% | 84.5% | 3,581 | High |
| 19 | NPH | Industrials | Hawke's Bay Regional Investment Company Limited | 55.0% | 71.9% | 3,117 | High |
| 20 | POT | Industrials | Quayside Securities Limited | 54.1% | 69.4% | 3,025 | High |
| 21 | SCT | Industrials | JBS Australia Pty Limited | 53.4% | 65.4% | 2,929 | High |
| 22 | AGL | Utilities | Simon Alexander Hull & David John Graeme Cox | 53.0% | 68.1% | 2,892 | High |
| 23 | FWL | Consumer Staples | Foley Holdings New Zealand Limited | 52.8% | 79.1% | 3,041 | High |
| 24 | GNE | Utilities | The sovereign in right of New Zealand acting by and through his minister of finance and minister for SOEs | 51.2% | 61.2% | 2,664 | High |
| 25 | MEL | Utilities | THE SOVEREIGN IN RIGHT OF NEW ZEALAND ACTING BY AND THROUGH THEIR MINISTER OF FINANCE AND MINISTER FOR STATE OWNED ENTERPRISES | 51.0% | 70.4% | 2,729 | High |
| 26 | AIR | Industrials | The Sovereign in Right of New Zealand acting by and through their Minister of Finance | 51.0% | 65.4% | 2,671 | High |
| 27 | PGW | Industrials | Agria (Singapore) Pte Limited | 44.3% | 62.3% | 2,136 | High |
| 28 | TAH | Consumer Discretionary | Bevan John Walsh | 42.9% | 93.8% | 2,852 | High |
| 29 | PHL | Healthcare | Thomas David Brankin & Michael John Kirwin Lay | 42.8% | 63.8% | 1,994 | High |
| 30 | AFC | Financials | NZ Silveray Group Limited | 41.2% | 68.7% | 1,925 | High |
| 31 | NZK | Consumer Staples | Oregon Group Limited | 39.6% | 64.5% | 1,777 | High |
| 32 | MHJ | Consumer Discretionary | HOGLETT HAMLETT LIMITED | 37.9% | 60.3% | 1,610 | High |
| 33 | MEE | Consumer Staples | Baker Investment Trust No 2 | 37.2% | 75.4% | 1,838 | High |
| 34 | GEN | Financials | Borneo Capital Limited | 34.5% | 77.0% | 1,933 | High |
| 35 | PEB | Healthcare | New Zealand Central Securities Depository Limited | 34.5% | 52.9% | 1,292 | High |
| 36 | RAD | Healthcare | Kade Kings Limited | 33.5% | 57.5% | 1,333 | High |
| 37 | OCA | Healthcare | New Zealand Central Securities Depository Limited | 33.1% | 51.6% | 1,222 | High |
| 38 | DOW | Industrials | HSBC CUSTODY NOMINEES (AUSTRALIA) LIMITED | 32.0% | 88.0% | 2,393 | High |
| 39 | GXH | Healthcare | LPL TRUSTEE LIMITED | 32.0% | 72.6% | 2,116 | High |
| 40 | ANZ | Financials | HSBC CUSTODY NOMINEES (AUSTRALIA) LIMITED | 30.6% | 57.8% | 1,235 | High |
| 41 | VHP | Real Estate | NZGT SECURITY TRUSTEE LIMITED | 28.2% | 60.6% | 1,154 | Medium |
| 42 | WBC | Financials | HSBC Custody Nominees (Australia) Limited | 26.6% | 52.8% | 1,022 | Medium |
| 43 | ATM | Consumer Staples | HSBC Custody Nominees (Australia) Limited | 23.4% | 55.8% | 911 | Medium |
| 44 | NZM | Communication Services | Citicorp Nominees Pty Limited | 21.2% | 53.9% | 897 | Medium |
| 45 | CCC | Consumer Staples | Keith Jackson Interests | 20.6% | 61.0% | 985 | Medium |
| 46 | TWL | Industrials | ASB BANK LIMITED | 20.5% | 49.2% | 742 | Medium |
| 47 | NZL | Real Estate | New Zealand Permanent Trustees Limited | 20.1% | 55.0% | 889 | Medium |
| 48 | ENS | Information Technology | Nightingale Partners Pty Limited | 20.0% | 64.8% | 1,060 | Medium |
| 49 | MOV | Industrials | JP Morgan Chase Bank | 20.0% | 43.7% | 658 | Medium |
| 50 | ALF | Financials | Waf Limited | 20.0% | 45.6% | 653 | Medium |
| 51 | APL | Real Estate | Centuria Platform Investments Pty Ltd | 20.0% | 53.4% | 840 | Medium |
| 52 | NTL | Industrials | HAMISH EDWARD ELLIOT BROWN | 20.0% | 40.4% | 608 | Medium |
| 53 | SAN | Consumer Staples | Ngāi Tahu Investments Limited | 19.9% | 47.4% | 687 | Medium |
| 54 | PYS | Information Technology | Wijeyeratne & Co Limited | 19.4% | 56.9% | 835 | Medium |
| 55 | IPL | Real Estate | Stride Property Limited | 18.8% | 45.0% | 587 | Medium |
| 56 | WCO | Industrials | Forsyth Barr Custodians Limited | 18.1% | 42.6% | 552 | Medium |
| 57 | RUA | Healthcare | NEW ZEALAND DEPOSITORY NOMINEE LIMITED <A/C 1 CASH ACCOUNT> | 17.6% | 42.4% | 542 | Medium |
| 58 | BAI | Healthcare | Forsyth Barr Custodians Limited | 17.4% | 52.0% | 719 | Medium |
| 59 | SKL | Industrials | Forsyth Barr Custodians Limited | 16.6% | 36.4% | 422 | Medium |
| 60 | VGL | Information Technology | Apex Custodian Nominees | 16.3% | 44.8% | 618 | Medium |
| 61 | GNZ | Real Estate | Goodman Funds Management Limited | 16.1% | 48.3% | 694 | Medium |
| 62 | MFB | Financials | Long Term Food Group LP | 15.6% | 41.1% | 481 | Medium |
| 63 | PFI | Real Estate | Custodial Services Limited | 15.5% | 36.8% | 427 | Medium |
| 64 | SCL | Industrials | Custodial Services Limited | 15.5% | 41.1% | 482 | Medium |
| 65 | SVR | Consumer Staples | H & G Limited | 15.3% | 42.9% | 542 | Medium |
| 66 | AIA | Industrials | HSBC Nominees (New Zealand) Limited | 15.3% | 46.7% | 563 | Medium |
| 67 | SKC | Consumer Discretionary | Allan Gray Group | 15.1% | 40.4% | 449 | Medium |
| 68 | CEN | Utilities | HSBC Nominees (New Zealand) Limited | 14.8% | 42.8% | 524 | Low |
| 69 | MFT | Industrials | B Plested and Rarawharo Trustees Limited as trustees of Rorohara No.2 Trust | 14.8% | 20.8% | 255 | Low |
| 70 | CHI | Energy | Mobil Oil New Zealand Limited | 14.3% | 46.9% | 574 | Low |
| 71 | STU | Materials | New Zealand Steel Limited | 14.3% | 33.0% | 331 | Low |
| 72 | FPH | Healthcare | HSBC Nominees (New Zealand) Limited R601127393 | 14.3% | 46.3% | 586 | Low |
| 73 | TEM | Financials | City of London Investment Management Company Limited | 14.1% | 40.5% | 403 | Low |
| 74 | BLT | Consumer Staples | Leveraged Equities Finance | 14.0% | 36.4% | 420 | Low |
| 75 | KPG | Real Estate | HSBC Nominees (New Zealand) Limited <040-016842-230> | 13.9% | 42.8% | 516 | Low |
| 76 | KMD | Consumer Discretionary | New Zealand Superannuation Fund Nominees Limited | 13.8% | 45.0% | 533 | Low |
| 77 | FCG | Consumer Staples | FNZ Custodians Limited | 13.7% | 55.3% | 828 | Low |
| 78 | MPG | Real Estate | Masfen Securities Limited | 13.7% | 43.1% | 482 | Low |
| 79 | FRW | Industrials | Custodial Services Limited <A/C 4> | 13.7% | 40.5% | 474 | Low |
| 80 | FBU | Materials | HSBC Custody Nominees (Australia) Limited | 13.6% | 47.6% | 601 | Low |
| 81 | SMI | Materials | CITICORP NOMINEES PTY LIMITED | 13.3% | 26.3% | 255 | Low |
| 82 | IKE | Materials | Nicola Jane Wilson & David Jonathan Wilson | 13.2% | 38.4% | 412 | Low |
| 83 | TRA | Consumer Discretionary | Bartel Holdings Limited | 13.2% | 36.8% | 363 | Low |
| 84 | MKR | Materials | ROSENBERG GROUP | 13.1% | 34.8% | 356 | Low |
| 85 | GTK | Information Technology | Citicorp Nominees Pty Limited | 13.0% | 44.2% | 499 | Low |
| 86 | AOF | Financials | East West Legacy LLC | 12.8% | 32.3% | 339 | Low |
| 87 | SPG | Real Estate | Accident Compensation Corporation (ACC) | 12.7% | 35.5% | 369 | Low |
| 88 | SKO | Industrials | Tea Custodians Limited | 12.4% | 43.9% | 530 | Low |
| 89 | EBO | Healthcare | JP Morgan Nominees Australia Limited | 12.3% | 39.2% | 466 | Low |
| 90 | ERD | Industrials | NMC Trustees Limited | 12.3% | 37.6% | 367 | Low |
| 91 | RAK | Information Technology | Siward Crystal Technology Co. Limited | 12.2% | 37.6% | 393 | Low |
| 92 | BRW | Consumer Discretionary | Rural Aviation (1963) Limited | 12.1% | 32.5% | 308 | Low |
| 93 | CNU | Communication Services | Citicorp Nominees Pty Limited | 11.9% | 50.1% | 601 | Low |
| 94 | SKT | Communication Services | BNP Paribas Nominees (NZ) Limited (BPSS40) | 11.6% | 43.3% | 478 | Low |
| 95 | THL | Consumer Discretionary | Barmil Enterprises Pty Ltd | 11.6% | 43.8% | 457 | Low |
| 96 | SPK | Communication Services | HSBC Nominees (New Zealand) Limited | 11.6% | 35.7% | 400 | Low |
| 97 | TRU | Industrials | New Zealand Depository Nominee | 11.1% | 29.0% | 246 | Low |
| 98 | BPG | Information Technology | Crown BP Holdings LLC | 11.0% | 36.1% | 386 | Low |
| 99 | SDL | Consumer Discretionary | ASB NOMINEES LIMITED <574233 A/C> | 10.9% | 33.8% | 384 | Low |
| 100 | SUM | Healthcare | Custodial Services Limited | 10.4% | 43.5% | 473 | Low |
| 101 | MEX | Materials | ALTINOVA NOMINEES PTY LTD | 10.1% | 35.7% | 332 | Low |
| 102 | TWR | Financials | HSBC Nominees (New Zealand) Limited – NZCSD <Hkbn90> | 9.7% | 34.2% | 362 | Low |
| 103 | ARG | Real Estate | Accident Compensation Corporation | 9.7% | 33.7% | 323 | Low |
| 104 | PCT | Real Estate | Milford Asset Management Limited | 9.0% | 25.3% | 177 | Low |
| 105 | HGH | Financials | Tomlinson Group HGH Limited | 8.9% | 29.4% | 231 | Low |
| 106 | IFT | Utilities | HSBC Nominees (New Zealand) Limited | 8.5% | 30.8% | 317 | Low |
| 107 | RYM | Healthcare | HSBC Nominees (New Zealand) Limited | 8.2% | 36.0% | 411 | Low |
| 108 | NZX | Financials | HSBC Nominees (New Zealand) Limited | 8.1% | 36.4% | 372 | Low |
| 109 | SEK | Consumer Staples | Tomlinson Group Investments Limited | 7.7% | 24.6% | 159 | Low |
| 110 | FSF | Consumer Staples | New Zealand Depository Nominee Limited | 7.4% | 21.5% | 122 | Low |
| 111 | CMO | Consumer Discretionary | P L Bennett and J P Gibbons | 6.3% | 25.0% | 148 | Low |
| 112 | HFL | Financials | Samsung Electronics | 5.5% | 21.0% | 174 | Low |
| 113 | BIT | Financials | Investec Wealth & Investment | 5.4% | 5.4% | 29 | Low |
| 114 | LIC | Financials | Trinity Lands Limited | 5.0% | 14.1% | 54 | Low |
| 115 | AFI | Financials | HSBC Custody Nominees (Australia) Limited | 3.3% | 7.8% | 18 | Low |
| 116 | MLN | Financials | NEW ZEALAND DEPOSITORY NOMINEE LIMITED <A/C 1 CASH ACCOUNT> | 3.1% | 10.9% | 31 | Low |
| 117 | BRM | Financials | NEW ZEALAND DEPOSITORY NOMINEE LIMITED <A/C 1 CASH ACCOUNT> | 2.8% | 9.2% | 23 | Low |
| 118 | KFL | Financials | NEW ZEALAND DEPOSITORY NOMINEE LIMITED <A/C 1 CASH ACCOUNT> | 2.5% | 8.4% | 21 | Low |
| FNZ Custodians Limited | Individual | 48 |
| Accident Compensation Corporation | Company | 47 |
| Forsyth Barr Custodians Limited | Individual | 37 |
| New Zealand Depository Nominee | Nominee / Custodian | 36 |
| HSBC Nominees (New Zealand) Limited | Nominee / Custodian | 34 |
| New Zealand Depository Nominee Limited | Nominee / Custodian | 22 |
| HSBC Custody Nominees (Australia) Limited | Nominee / Custodian | 19 |
| Citicorp Nominees Pty Limited | Nominee / Custodian | 18 |
| Tea Custodians Limited | Individual | 17 |
| New Zealand Permanent Trustees Limited | Trust | 17 |
| Premier Nominees Limited | Nominee / Custodian | 16 |
| JBWere (NZ) Nominees Limited | Nominee / Custodian | 16 |
| New Zealand Superannuation Fund Nominees Limited | Nominee / Custodian | 15 |
| Masfen Securities Limited | Individual | 14 |
| Public Trust | Trust | 13 |
| Leveraged Equities Finance Limited | Individual | 12 |
| Citibank Nominees (NZ) Ltd | Nominee / Custodian | 11 |
| J P Morgan Nominees Australia Pty Limited | Nominee / Custodian | 10 |
| Citibank Nominees (New Zealand) Limited | Nominee / Custodian | 10 |
| Pt Booster Investments Nominees Limited | Nominee / Custodian | 9 |
| BNP Paribas Nominees (NZ) Limited | Nominee / Custodian | 9 |
| BNP Paribas Nominees NZ Limited | Nominee / Custodian | 9 |
| JPMORGAN Chase Bank | Individual | 9 |
| PT (Booster Investments) Nominees Limited | Nominee / Custodian | 8 |
| NZX WT Nominees Limited | Nominee / Custodian | 8 |
| Bnp Paribas Nominees NZ Limited Bpss40 | Nominee / Custodian | 7 |
| Investment Custodial Services Limited | Nominee / Custodian | 7 |
| Custodial Services Limited <A/C 4> | Individual | 7 |
| New Zealand Central Securities Depository Limited | Nominee / Custodian | 7 |
| -346.3pp |
| 3 | SKT | 2020 → 2025 | 95.0% | 11.6% | 376.0% | 43.3% | -332.7pp |
| 4 | MCY | 2020 → 2025 | 79.0% | 86.5% | 358.0% | 86.5% | -271.5pp |
| 5 | WHS | 2018 → 2020 | 27.0% | 100.0% | 73.7% | 202.0% | +128.3pp |
| 6 | ATM | 2016 → 2025 | 8.3% | 23.4% | 15.7% | 55.8% | +40.2pp |
| 7 | APL | 2023 → 2025 | 20.0% | 20.0% | 20.0% | 53.4% | +33.4pp |
| 8 | GNZ | 2018 → 2025 | 21.0% | 16.1% | 21.0% | 48.3% | +27.3pp |
| 9 | FWL | 2022 → 2025 | 52.8% | 52.8% | 52.8% | 79.1% | +26.3pp |
| 10 | ARG | 2016 → 2025 | 6.8% | 9.7% | 12.1% | 33.7% | +21.6pp |
| 11 | SML | 2024 → 2025 | 39.0% | 65.3% | 68.3% | 87.8% | +19.5pp |
| 12 | CMO | 2024 → 2025 | 5.6% | 6.3% | 5.6% | 25.0% | +19.4pp |
| 13 | TWR | 2024 → 2025 | 20.0% | 9.7% | 51.6% | 34.2% | -17.3pp |
| 14 | PCT | 2024 → 2025 | 13.3% | 9.0% | 41.8% | 25.3% | -16.6pp |
| 15 | AIR | 2017 → 2024 | 51.9% | 51.0% | 81.1% | 65.4% | -15.7pp |
| 16 | MFT | 2022 → 2025 | 14.6% | 14.8% | 35.6% | 20.8% | -14.8pp |
| 17 | RYM | 2021 → 2024 | 14.0% | 8.2% | 49.9% | 36.0% | -13.8pp |
| 18 | TRA | 2024 → 2025 | 12.7% | 13.2% | 25.1% | 36.8% | +11.6pp |
| 19 | NZM | 2019 → 2025 | 25.0% | 21.2% | 65.1% | 53.9% | -11.2pp |
| 20 | MCK | 2018 → 2024 | 70.8% | 75.8% | 86.8% | 75.8% | -11.1pp |
| 21 | SKL | 2020 → 2025 | 8.2% | 16.6% | 25.5% | 36.4% | +10.9pp |
| 22 | ERD | 2021 → 2022 | 15.8% | 12.3% | 46.9% | 37.6% | -9.3pp |
| 23 | SKC | 2024 → 2025 | 13.5% | 15.1% | 47.8% | 40.4% | -7.4pp |
| 24 | RAD | 2024 → 2025 | 33.5% | 33.5% | 50.2% | 57.5% | +7.2pp |
| 25 | VGL | 2025 → 2026 | 19.9% | 16.3% | 51.8% | 44.8% | -7.1pp |
Positive change (red) indicates increasing concentration; negative change (green) indicates dispersing ownership.