Already Bought HSC Shares? Retail Investors Shouldn't Panic, Here's How to Salvage Your Portfolio

JAKARTA, KOMPAS.com - Several issuers are included in the list of shares with high shareholding concentration (HSC). These shares are considered at risk of pressure and potential exclusion from global indices, such as the Morgan Stanley Capital International (MSCI).

Based on data from the Indonesia Stock Exchange (BEI), there are nine issuers with ownership concentration by certain groups above 95 percent.

These issuers include PT Lima Dua Lima Tiga Tbk (LUCY) with 95.47 percent concentration, PT Samator Indo Gas Tbk (AGII) at 97.75 percent, and PT Satria Mega Kencana Tbk (SOTS) reaching 98.35 percent.

In addition, PT Ifishdeco Tbk (IFSH) has a concentration of up to 99.77 percent, followed by PT Panca Anugrah Wisesa Tbk (MGLV) at 95.94 percent and PT Rockfields Properti Indonesia Tbk (ROCK) at 99.85 percent.

Meanwhile, PT Abadi Lestari Indonesia Tbk (RLCO) has a concentration of 95.35 percent, PT Dian Swastatika Sentosa Tbk (DSSA) at 95.76 percent, and PT Barito Renewables Energy Tbk (BREN) at 97.31 percent.

Investment Specialist at PT Korea Investment and Sekuritas Indonesia (KISI), Ahmad Faris Mu’tashim, reminds that shares on the HSC list are not necessarily bad shares. However, investors need to re-evaluate their positions, especially if the price pressure is too deep.

“For fellow investors who already hold shares on the HSC list, they can re-evaluate their share ownership in the portfolio. Because if a share is on the HSC list, it does not mean that the share is a bad one. But if the weakening is felt to be too deep, they can sell at a loss to secure capital in their portfolio,” said Faris to Kompas.com on Monday night (6/4/2026).

Meanwhile, for retail investors, the impact is more felt in the high volatility and unstable trading volume.

“The HSC list indicates that the share has concentrated control. For institutional investors with large funds, this signals low liquidity support. For retail investors, what needs to be considered from shares affected by HSC is higher volatility and less stable trading volume,” he explained.