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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2024 Q1 | Apr 15, 2024 | Sandon Capital | 0.0% | 0.0% | A2B.AX, BCI.AX, CAF.AX, COG.AX, CYG.AX, FWD.AX, GDC.AX, MFG.AX, MWY.AX | Activist, Australia, Data centers, Mining, SmallCap, value | Fund focuses on companies trading below intrinsic value with activist potential. Multiple holdings show strong asset backing relative to market prices, including MWY with net tangible assets of $1.64 per share versus current trading levels. | MWY.AX BCI.AX MFG.AX A2B.AX CYG.AX GDC.AX FWD.AX COG.AX |
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| 2023 Q4 | Dec 31, 2023 | Sandon Capital | 0.0% | 0.0% | A2B.AX, CYG.AX, FWD.AX, LNK.AX, MFG.AX | activism, Australia, M&A, small caps, value | The fund demonstrates active shareholder engagement through board changes and strategic influence. The A2B campaign exemplifies successful activist intervention, with the appointment of Mark Bayliss as Executive Chairman leading to significant value creation through asset sales and strategic repositioning. | LNK.AX MFG.AX CYG.AX A2B.AX |
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| 2023 Q3 | Oct 31, 2023 | Sandon Capital | 0.0% | 0.0% | A2B.AX, BCI.AX, COG.AX, CUP.AX, CYG.AX, DVR.AX, FWD.AX, GDC.AX, MFG.AX | Activist, Australia, Governance, small caps, turnaround, value | Fund actively engages with portfolio companies to drive strategic changes, particularly evident with Magellan Financial Group where they advocate for strategic review, capital management, and CEO change. They push for return of non-operating assets to shareholders rather than acquisitions. | BCI.AX COG.AX CYG.AX MFG.AX FWD.AX |
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| 2023 Q2 | Jul 15, 2023 | Sandon Capital | 0.0% | 0.0% | A2B.AX, BCI.AX, COG.AX, CVY.AX, FWD.AX, IDT.AX, MFG.AX, RIO.AX | Activist, Australia, Mining, Pharmaceuticals, small caps, value | Fund launched new activist campaign targeting Magellan Financial Group with five specific recommendations including returning excess capital, prioritizing existing business, reviewing cost base, providing SPP relief, and accelerating board renewal. Manager believes activist approach can unlock significant value in undervalued companies. | IDT.AX BCI.AX FWD.AX MFG.AX |
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| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Apr 28, 2026 | Fund Letters | Sandon Capital | A2B Australia Ltd | Industrials | Ground Transportation | Bull | ASX | Activist Investment, Australia, board changes, M&A Target, payment processing, Property Divestment, Special dividend, Taxi Services, Transportation, turnaround | View Pitch |
| Apr 13, 2026 | Fund Letters | Sandon Capital | A2B Australia Ltd | Industrials | Ground Transportation | Bull | ASX | Activist Investment, board changes, ComfortDelGro, Corporate Turnaround, Scheme of Arrangement, Special dividend, Taxi Dispatch, value creation | View Pitch |
| Manager Name | Fund Name | Fund AUM | Invested Value | Portfolio Weight | Shares Owned | Shares Bought / Sold During Quarter | % Bought / Sold During Quarter | % of Shares Outstanding Owned |
|---|---|---|---|---|---|---|---|---|
| No investor data available. | ||||||||