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Elders Ltd ASX:ELD

1 opened or increased2 held1 reduced or exitedlatest position by manager, past 12 months90 days: 0 increased, 0 reduced. 11 managers in total.

Position history by manager Showing 3 of 11 managersSelect a point to see the comment

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8 more managers have commented on ELDPro shows the full position history for all 11 managers.

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202420252026

13 Jul 2025 to today

Commentary Showing 2 of 12

DateManagerActionSummary

30 Jun 2026Medallion FinancialExitMedallion Financial sold its position in Elders because the agribusiness is complex, with numerous moving parts that make it difficult to align execution across the business. The manager is concerned that despite a broadly productive environment for agricultural businesses and land in recent years, Elders has still struggled to perform, and worries the recent CEO transition introduces further risk, as new leadership may choose to reset the business and produce additional bad news before conditions improve. Medallion concluded the risk of further disruption outweighed the case for holding, despite the stock not having previously been particularly popular with investors.

Article, price recorded $5.14

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25 May 2026Pendal GroupHeldPendal Group continues to hold Elders Ltd despite the stock declining 17.7% after a first-half FY26 result that missed earnings expectations by approximately 7% due to higher costs from the final stages of IT project implementation across the organisation. Pendal Group notes management expects these incremental costs to largely unwind in FY27, and that operationally the business is performing well across livestock agency, crop protection, and real estate services, while brokers reduced forward earnings forecasts by approximately 10%.

Newsletter, price recorded $6.13

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10 more comments on ELDPro 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 11 managers first commented on ELD.

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Articles

30 Jun 2026Elders ELD Fund Manager Commentary and Investment Thesis

About Elders Ltd

Industrials, Food Products

Elders (ASX:ELD), the agribusiness and rural services group, has disappointed some fund managers with rising costs. In June 2026, Medallion Financial rated Elders a sell, describing a complex business with many moving parts that is hard to align, despite broadly favourable conditions. Pendal and First Samuel reported the shares fell around 18% to 22% after a first-half result that missed expectations by around 7% because of higher costs, mainly from IT projects, even as revenue rose 32% helped by the Delta Agribusiness acquisition. Equity Trustees bought Elders for its diversified exposure and strong management. Elders operates in the Consumer Staples sector within the Food Products industry, and Thesis Tracker has captured 12 comments from 11 fund managers, including Medallion, Pendal, First Samuel and Equity Trustees. Headquartered in Adelaide, Elders provides farm inputs, livestock and wool agency, real estate, financial services and agronomy advice to rural Australia.

Market cap: $1.3b
Price to earnings: 22.2x
Return on equity: 5.2%
Dividend yield: 6.9%
Price to book: 1.07x
Net margin: 1.6%
52-week range: $4.96 to $7.77

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

Questions

Who is investing in Elders Ltd (ASX:ELD)?

Fund managers including Blackwattle Investment Partners, Ausbil Investment Management, Oracle Advisory Group, Centennial Asset Management, Montgomery Investment Management, Wilson Asset Management, Pendal Group, Milford Asset Management, Equity Trustees Asset Management, Medallion Financial and First Samuel have invested in Elders Ltd (ASX:ELD).

What opportunities or catalysts do fund managers highlight for Elders Ltd?

Equity Trustees highlights Elders' diversified agribusiness exposure, strong management and industry position, while First Samuel notes revenue grew 32%, supported by the Delta Agribusiness acquisition.

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

Medallion argues Elders is too complex to execute consistently, and Pendal and First Samuel point to a first-half earnings miss driven by higher IT and implementation costs, which caused a sharp share price fall.

What does Elders Ltd (ASX:ELD) do?

Elders Ltd. is an Australian agribusiness providing financial and real estate services to rural, agricultural, and automotive sectors. Headquartered in Adelaide and founded in 1839, the company operates through four segments: Branch Network, supplying agricultural products via a common distribution channel; Wholesale Products, managing the AIRR business and eight warehouses for independent retailers; Feed and Processing Services, including the Killara beef cattle feedlot in New South Wales; and Corporate Services, covering administrative functions and investment activities. Elders delivers integrated solutions across the Australian rural supply chain.

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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