Tower Ownership

Who are the major shareholders and have insiders been buying or selling?

Recent Insider Transactions

ASX:TWR Recent Insider Transactions by Companies or Individuals
Date	Value	Name	Entity	Shares	Max Price
27 Feb 26	SellAU$136,551	Paul Johnston	Individual	87,872	AU$1.55
24 Nov 25	SellAU$6,707,777	Accident Compensation Corporation	Company	4,267,025	AU$1.57
30 Sep 25	BuyAU$2,259,847	Forsyth Barr Investment Management Limited	Company	1,515,146	AU$1.49
30 Sep 25	SellAU$911,546	Forsyth Barr Investment Management Limited	Company	612,261	AU$1.49
18 Sep 25	SellAU$6,194,663	Salt Investment Funds Limited	Company	4,035,411	AU$1.54
08 Sep 25	BuyAU$669,600	Salt Investment Funds Limited	Company	452,437	AU$1.48

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

What is the ownership structure of TWR?
Owner Type	Number of Shares	Ownership Percentage
Individual Insiders	1,819,119	0.53%
Private Companies	11,890,765	3.46%
Institutions	123,438,528	35.9%
General Public	206,262,939	60.1%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Top 25 shareholders own 39.84% of the company

Ownership	Name	Shares	Current Value	Change %	Portfolio %
6.75%	Accident Compensation Corporation	23,197,331	AU$36.1m	0%	1.01%
6.09%	Pacific International Insurance Pty Limited	20,925,211	AU$32.6m	0%	no data
6.02%	Forsyth Barr Investment Management Limited	20,689,297	AU$32.2m	0%	1.6%
3.64%	Masfen Securities Limited	12,500,000	AU$19.5m	0%	42.57%
3.46%	Lennon Holdings Limited	11,890,765	AU$18.5m	0%	no data
2.88%	BT Funds Management (NZ) Limited	9,876,848	AU$15.4m	0%	0.77%
2.57%	Milford Asset Management, LTD	8,835,408	AU$13.8m	0%	0.09%
2.06%	Salt Investment Funds Limited	7,068,233	AU$11.0m	0%	15.32%
1.59%	Smartshares Ltd.	5,460,191	AU$8.5m	0%	0.16%
1.45%	Dimensional Fund Advisors LP	4,975,224	AU$7.7m	3.43%	no data
1.18%	JPMorgan Chase & Co.	4,064,518	AU$6.3m	0%	no data
0.46%	Octagon Asset Management Limited	1,593,223	AU$2.5m	0%	1.57%
0.32%	QuayStreet Asset Management Limited	1,089,863	AU$1.7m	0%	0.09%
0.27%	Trust Investments Management Limited	930,740	AU$1.4m	0%	0.46%
0.24%	Blair Turnbull	822,244	AU$1.3m	0%	no data
0.17%	AXA Investment Managers UK Ltd.	593,195	AU$923.3k	0%	no data
0.16%	Michael Stiassny	562,407	AU$875.4k	0%	no data
0.13%	FMR LLC	450,000	AU$700.4k	0%	no data
0.093%	FCA Corp	320,000	AU$498.1k	0%	0.08%
0.078%	Bessemer Investment Management LLC	269,142	AU$418.9k	281%	no data
0.054%	Russell Investment Management, LLC	185,457	AU$288.6k	0%	no data
0.053%	Graham Stuart	182,250	AU$283.7k	0%	no data
0.039%	Paul Johnston	134,986	AU$210.1k	0%	no data
0.03%	RAM Active Investments S.A.	104,384	AU$162.5k	0%	0.01%
0.027%	Mercer (N.Z.) Limited	93,078	AU$144.9k	0%	0.41%

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2026/08/01 15:03
End of Day Share Price	2026/07/31 00:00
Earnings	2026/03/31
Annual Earnings	2025/09/30

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Tower Limited is covered by 7 analysts. 4 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Donna Fu	Citigroup Inc
James Lindsay	Forsyth Barr Group Ltd.
Ryan Fisher	Goldman Sachs