Portfolio over time
NAV, share price and every holding at each quarter-end since March 2022, plus director dealings and major shareholders, from Agronomics' RNS and reports.
NAV / share
12.34p
−16.7% vs 31 Mar 2025
Share price
7.05p
−1.4% vs 31 Mar 2025
Discount to NAV
43%
−9 pts vs 31 Mar 2025
NAV vs share price
- NAV / share
- Share price
- Director buys
The line is the reported NAV history. Pre-audit September figures are left off it and marked with an open circle when selected. Dots are directors' share purchases at the price paid, sized by amount. Click the chart to jump to a quarter.
Table
| Quarter-end | NAV / share | Share price | Discount |
|---|---|---|---|
| 30 Sep 2026 | 12.88p | 4.80p | 62% |
| 30 Jun 2026 | 12.93p | 5.64p | 56% |
| 31 Mar 2026 | 13.12p | 6.32p | 52% |
| 31 Dec 2025 | 13.78p | 6.20p | 55% |
| 30 Sep 2025 Pre-audit | 14.65p | 6.26p | 57% |
| 30 Jun 2025 | 12.34p | 7.05p | 43% |
| 31 Mar 2025 | 14.81p | 7.15p | 52% |
| 31 Dec 2024 | 14.93p | 3.88p | 74% |
| 30 Sep 2024 Pre-audit | 15.73p | 4.94p | 68% |
| 30 Jun 2024 | 15.58p | 6.00p | 61% |
| 31 Mar 2024 | 16.98p | 8.80p | 48% |
| 31 Dec 2023 | 16.90p | 9.50p | 44% |
| 30 Sep 2023 Pre-audit | 16.48p | 9.80p | 40% |
| 30 Jun 2023 | 16.94p | 10.40p | 39% |
| 31 Mar 2023 | 16.14p | 10.90p | 32% |
| 31 Dec 2022 | 16.38p | 11.75p | 28% |
| 30 Sep 2022 Pre-audit | 16.51p | 12.50p | 24% |
| 30 Jun 2022 | 14.85p | 16.00p | 8% premium |
| 31 Mar 2022 | 15.11p | 19.20p | 27% premium |
What moved NAV
Quarter to 30 Jun 2025
- FX loss of £4.2m
- No portfolio fundraises
- Running costs −£0.2m, offset by £0.4m of interest income
Down 20% on the year, including the full write-off of Meatable (£11.9m) and lower BlueNalu and Solar Foods valuations. The July RNS gave 14.40p unaudited. Discount is to the audited figure.
Annual Report 2025: year to 30 June 2025 · Net Asset Value calculation as at 30 June 2025
Holdings
£121.0m across 26 holdings
At 30 Jun 2025. Carrying values from the investment reconciliation in the 2025 annual report.
Table
| Holding | Value | Share | Change since last breakdown |
|---|---|---|---|
| Liberation Bioindustries | £29.4m | 24.3% | ≈+£1.23m |
| SuperMeat | £13.9m | 11.5% | ≈−£1.59m |
| Onego Bio | £11.1m | 9.1% | ≈−£0.20m |
| Formo | £9.38m | 7.8% | ≈+£0.95m |
| Solar Foods | £7.31m | 6.0% | ≈+£1.68m |
| All G | £7.14m | 5.9% | ≈+£0.11m |
| Clean Food Group | £6.98m | 5.8% | ≈−£46k |
| BlueNalu | £6.60m | 5.5% | ≈−£6.06m |
| The EVERY Company | £5.83m | 4.8% | ≈−£1.20m |
| Meatly | £4.46m | 3.7% | ≈+£0.24m |
| LIVEKINDLY Collective | £4.04m | 3.3% | ≈−£0.18m |
| California Cultured | £3.37m | 2.8% | ≈−£0.85m |
| Mosa Meat | £3.14m | 2.6% | ≈+£0.33m |
| GALY | £2.40m | 2.0% | ≈−£0.41m |
| Tropic | £2.19m | 1.8% | ≈−£0.63m |
| CellX | £1.85m | 1.5% | ≈+£0.44m |
| HydGene Renewables | £1.20m | 1.0% | ≈−£0.21m |
| Umami Bioworks | £0.35m | 0.3% | New |
| Rebellyous Foods | £0.32m | 0.3% | New |
| Good Protein Fund | £0.11m | 0.1% | New |
| Laverock Therapeutics | £48k | 0.0% | New |
| Legacy investments | £25k | 0.0% | New |
| Geltor | £2k | 0.0% | New |
| Bond Pet Foods | £0 | 0.0% | ≈−£1.41m |
| Meatable | £0 | 0.0% | ≈−£11.2m |
| Wild Microbes | £0 | 0.0% | New |
Director dealings
Jim Mellon has bought 46.6m shares for £2.72m since Mar 2023
| Date | Shares | Price | Value | Holding after | Source |
|---|---|---|---|---|---|
| 13 Jul 2026 Bought from BlueNalu for US$2m, off market. BlueNalu had received the shares for Agronomics' December 2025 investment. |
27.5m | 5.43p | £1.49m | 18.30% | RNS |
| 13–27 Mar 2026 Bought through brokers; not announced until 14 Jul 2026. |
6.05m | 6.78p | £0.41m | — | RNS |
| 6–12 Mar 2026 | 3.31m | 6.81p | £0.23m | 15.69% | RNS |
| 26 Feb – 3 Mar 2026 | 576k | 6.80p | £39k | 15.38% | RNS |
| 23–25 Feb 2026 | 990k | 6.64p | £66k | 15.32% | RNS |
| 18–20 Feb 2026 | 1.28m | 6.03p | £77k | 15.23% | RNS |
| 17 Feb 2026 | 1.5m | 6.07p | £91k | 15.11% | RNS |
| 4 Feb 2025 | 1.3m | 3.80p | £49k | 15.89% | RNS |
| 10 Oct 2024 | 1m | 4.92p | £49k | 15.76% | RNS |
| 7 Oct 2024 | 2m | 4.84p | £97k | 15.66% | RNS |
| 5 May 2023 | 392k | 11.56p | £45k | 15.56% | RNS |
| 27 Mar 2023 | 666k | 10.49p | £70k | — | RNS |
| 24 Mar 2023 | 50k | 10.00p | £5k | — | RNS |
Shareholders
Holdings of 3% or more at 30 June
| Holder | Jun 2022 | Jun 2023 | Jun 2024 | Jun 2025 |
|---|---|---|---|---|
| Jim Mellon 18.30% on 13 Jul 2026 | 15.25% | 15.56% | 15.09% | 15.66% |
| Hargreaves Lansdown (Nominees) | 3.78% | 4.09% | 10.14% | 13.32% |
| Vidacos Nominees Limited | — | — | — | 12.51% |
| Interactive Investor | — | — | 5.77% | 7.64% |
| Interactive Brokers | — | — | — | 5.82% |
| Lawshare Nominees Limited | — | — | — | 4.16% |
| Morgan Stanley Client Securities | — | — | — | 3.11% |
| Chase Nominees Limited | 4.08% | 3.95% | — | 3.10% |
| HSDL Nominees Limited | — | — | — | 3.07% |
| BlackRock | — | — | 5.17% | — |
| Canaccord Genuity Wealth Management | — | — | 3.91% | — |
| JPMorgan Chase Bank | — | — | 3.76% | — |
| Nutraco Nominees Limited | — | 4.16% | — | — |
| HSBC Global Custody Nominee (UK) | 3.61% | 3.52% | — | — |
From each year's annual report; — means under 3% or not listed. Nominee companies hold shares for other investors.