Institutional ticker directory tracking stock mentions, long/short ideas, and high-conviction pitches extracted from quarterly hedge fund letters.
| Ticker | Company | Sector | Industry | Pitches | Stance |
|---|---|---|---|---|---|
| Fund / Manager | Thesis Excerpt | Stance | Period / Date | Action |
|---|---|---|---|---|
L1 Capital Long Short Fund Mark Landau and Raphael Lamm | “BlueScope (Long +24%) shares rallied over the quarter, supported by elevated U.S. steel spreads of ~US$750/t (+27% calendar year-to-date). The resulting earnings uplift from BlueScope's North American assets, together with the lagged benefits of stronger Asian steel spreads, drove substantial consensus earnings upgrades for the first half of FY27. Following several prior approaches, in February the SGH/Steel Dynamics consortium made a 'best and final' offer of A$32.35/sh ($34.00/sh including the dividends) – a 47% adjusted premium, to which BlueScope responded with a willingness to engage but only on improved offer terms. No revised proposal was publicly disclosed during the quarter. L1 continues to maintain a dialogue with BlueScope on strategic initiatives to maximise value.” | BULL | Q2 2026 Jul 28, 2026 | View Pitch |
Airlie Australian Share Fund Emma Fisher & Matt Williams | “The top three relative contributors to gross performance during the quarter were Aristocrat (+37%), BlueScope Steel (+24%) and BHP (+18%). As ever with cyclical businesses, the privileged nature of these assets was not priced into the shares until the commodity prices turned, whether it be refiner margins ripping on the closure of the Strait of Hormuz, US steel spreads rising 50% or copper rallying 30-40% over the year. Positive earnings revisions and the emergence of market narratives like the 'HALO' moniker have left many market participants chasing the shares higher; we like to say we liked Ampol, BlueScope and BHP before they were cool. With portfolio holdings BHP, RIO, BlueScope, Ampol and IGO up >50% this year as the market scrambles for Real Assets, we have pulled back our positions. In November 2025, BlueScope and James Hardie were announced as (surprise) MSCI Australia index deletions. BlueScope fell 8% to $21 and James Hardie fell 30% to $25 over the course of two days. We added to our position in BlueScope and re-entered James Hardie. Today, BlueScope trades at >$31, and James Hardie at >$37, both stocks up an incredible 48% since the index deletion event.” | BULL | Q2 2026 Jul 21, 2026 | View Pitch |
Each excerpt above is the manager's commentary on this ticker specifically. The full letter has the rest of their portfolio thinking, risk discussion, and broader institutional context.
