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Australian Vintage Ltd ASX:AVG

0 opened or increased1 held0 reduced or exitedlatest position by manager, past 12 months90 days: 0 increased, 0 reduced. 1 managers in total.

Position history by manager 1 managersSelect a point to see the comment

Opened or increasedHeldReduced or exited Start or end of the position not reported

20252026

31 Dec 2024 to today

Commentary Showing 2 of 7

DateManagerActionSummary

31 Mar 2026Wentworth WilliamsonHeldWentworth Williamson continues to hold Australian Vintage, backing an operational turnaround involving cost-base restructuring and the exit of uneconomic grape-growing contracts, alongside investment in the Poco Vino brand now expanding into international markets. The manager cites net tangible assets more than seven times the share price, supported by rezoned industrial land, with even modest turnaround success seen as justifying a valuation near the 57 cents per share NTA backing, representing over 700% upside from current levels.

Quarterly Report, price recorded $0.08

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31 Dec 2025Wentworth WilliamsonHeldWentworth Williamson continues to hold Australian Vintage Ltd as a high-conviction activist deep value turnaround position, targeting in excess of 500% upside from the current share price if a three-stage turnaround plan is executed successfully. Wentworth Williamson, which holds the Chair position, has installed a focused board and appointed new CEO Tom Dusseldorp, and is making strong progress on stages one and two: securing lender support for investment, launching the Poco Vino brand, exiting uneconomic grape contracts, and targeting material cash generation through inventory wind-down and debt reduction. The fund expects the income statement and cash flow to align once Stage 2 completes, with the share price expected to at least reflect net tangible assets at that point.

TurnaroundQuarterly Report, price recorded $0.11

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5 more comments on AVGPro shows every comment, with a link to each source document.

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First mention by manager

Price recorded at each manager's first comment

Price at first mentionThe share price recorded when each of 1 managers first commented on AVG.

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About Australian Vintage Ltd

Consumer Staples, Beverages

Australian Vintage (ASX:AVG), a wine producer, is a core activist turnaround position for Wentworth Williamson. In March 2026, Wentworth Williamson said it is backing an operational turnaround involving cost-base restructuring and the exit of uneconomic grape-growing contracts, alongside investment in its brands. In December 2025, Wentworth described Australian Vintage as a core holding in its activist deep-value turnaround bucket, and James Williamson framed it as an out-of-favour business with hidden quality. Australian Vintage operates in the Consumer Staples sector within the Beverages industry, and Thesis Tracker has captured 7 comments from 1 fund manager, Wentworth Williamson. Founded in 1991 and headquartered in Adelaide, Australian Vintage produces and markets wine under brands including McGuigan, Tempus Two and Nepenthe, selling in Australia, the UK, Europe, North America and Asia, and operates vineyards and wineries in New South Wales, Victoria and South Australia.

Market cap: $30m
Price to earnings: Loss-making
Return on equity: -40.6%
Dividend yield: 0.0%
Price to book: 0.20x
Net margin: -25.8%
52-week range: $0.05 to $0.13

Company figures as of 15 Oct 2026. For information only.

Questions

Who is investing in Australian Vintage Ltd (ASX:AVG)?

Fund managers including Wentworth Williamson have invested in Australian Vintage Ltd (ASX:AVG).

What opportunities or catalysts do fund managers highlight for Australian Vintage Ltd?

Wentworth Williamson highlights cost restructuring, exiting uneconomic grape contracts, investment in core brands and hidden quality in an out-of-favour business.

What are the key risks to the Australian Vintage Ltd investment thesis, according to fund managers?

The available commentary does not set out specific risks, though Australian Vintage operates in a challenging global wine market with excess supply and weak demand.

What does Australian Vintage Ltd (ASX:AVG) do?

Australian Vintage Ltd. (founded 1991, Adelaide) is a wine company specializing in winemaking, marketing, and vineyard management. The business operates through three primary geographic segments: Australia/New Zealand, focusing on wholesale and retail sales; UK, Europe, and the Americas, handling distribution and packaging; and Asia, managing wholesale market growth. The firm provides integrated wine production and supply chain services across these regions.

General information only. Thesis Tracker reports what named fund managers have published about ASX companies. It does not take into account your objectives, financial situation or needs, and is not financial product advice or a recommendation to buy, sell or hold any security.

11,356 comments from 164 managers on 761 companies, snapshot 15 Oct 2026.

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