Well Sherlock you need to consider that there is evidence to support the fact that a few is more than two. The waters are muddied of course by the fact that all the eggs are not necessarily in one basket. Further to that multi baskets only have to be revealed by substantial holders and a few is not enough to require a substantial holder to announce a change.
For those expressing interest in the size of Majority's holding there is this.
"The Board of Majority Capital Limited (“Mejority” or “Company”) wish to advise that they anticipate a further write down to zero value in one of their core investment holdings, being that in XPD Soccer GearGroup Limited (“XPD”).The Company’s holding in XPD has diminished from a value of $1,070,809.60 at 30 June 2016, to $292,548.32 "(loss)" at 30 June 2017"
The share price on the 30/06/16 was sitting at 14 cents and 3.8 cents at 30/06/17 which would indicate that they probably have about 7.7 m shares.
