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EQT Holdings Ltd ASX:EQT

Funds Management Wealth Management Regulatory Risk Recurring Revenue

0 opened or increased2 held1 reduced or exitedlatest position by manager, past 12 months90 days: 0 increased, 0 reduced. 7 managers in total.

Position history by manager Showing 3 of 7 managersSelect a point to see the comment

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

4 more managers have commented on EQTPro shows the full position history for all 7 managers.

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20252026

31 Mar 2024 to today

Commentary Showing 2 of 23

DateManagerActionSummary

30 Sep 2026Investors Mutual LimitedHeldInvestors Mutual Limited continues to hold EQT Holdings Ltd after the trustee services company rallied 28.8% during the September 2026 quarter following the announcement of two private equity takeover proposals. The manager notes EQT had been trading well below fundamental value due to an ASIC court action. Investors Mutual believes the bids once again demonstrate that if the market is not prepared to appropriately value smaller listed companies, private capital will step in to do so.

Regulatory RiskQuarterly Report, price recorded $21.00

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13 Jul 2026Investors Mutual LimitedHeldInvestors Mutual Limited continues to hold EQT Holdings because they view ASIC's scrutiny over the Shield and Guardian issues as a short-term matter that the market has overreacted to. The manager notes the stock has given up something like $600-800 million of market capitalisation for a potential impact estimated at only $100-200 million, without accounting for possible insurance coverage or the possibility the company may not be liable at all, and highlights that Equity Trustees is defending any potential action. Investors Mutual points to the stock trading on ten times earnings with a 6.5% fully franked dividend yield for a predictable, low-volatility, highly cash-generative trustee business, and notes the company's exit from the superannuation area affected by the issues, which represented only about 5% of earnings, alongside comparisons to Perpetual's trustee business as the "jewel in the crown" of that group.

Asset Management Dividend Yield Regulatory RiskInterview, price recorded $18.50

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21 more comments on EQTPro 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 7 managers first commented on EQT.

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Articles

30 Sep 2026EQT Holdings' Trustee Scandal Prompts a Strategic Retreat
13 Jul 2026Equity Trustees EQT Fund Manager Commentary and Investment Thesis

About EQT Holdings Ltd

Industrials, Capital Markets

EQT Holdings (ASX:EQT), the trustee and wealth services firm, has been weighed down by ASIC proceedings linked to the First Guardian collapse. In July 2026, Investors Mutual noted a question mark over the business due to the legal proceedings, after the shares fell around 21% in June as its stance with ASIC drew press coverage, though it believes profitability will not be materially affected. Asymmetric reported a 3% gain after EQT announced it will focus on corporate trustee and wealth services, noting its superannuation trustee division had become a burden. EQT Holdings operates in the Financials sector within the Capital Markets industry, and Thesis Tracker has captured 22 comments from 7 fund managers, including Investors Mutual and Asymmetric. Founded in 1888 and headquartered in Melbourne, EQT Holdings, trading as Equity Trustees, provides corporate trustee, responsible entity, superannuation trustee, estate planning and private wealth services.

Market cap: $599m
Price to earnings: 16.0x
Return on equity: 8.4%
Dividend yield: 3.6%
Price to book: 1.34x
Net margin: 15.8%
52-week range: $14.70 to $26.78

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

Questions

Who is investing in EQT Holdings Ltd (ASX:EQT)?

Fund managers including Asymmetric Asset Management, Forager Funds, Ausbil Investment Management, Oracle Advisory Group, Perpetual Asset Management, Ellerston Capital and Investors Mutual Limited have invested in EQT Holdings Ltd (ASX:EQT).

What opportunities or catalysts do fund managers highlight for EQT Holdings Ltd?

Asymmetric highlights EQT's decision to focus on corporate trustee and wealth services and exit the burdensome superannuation trustee business, while Investors Mutual believes the ASIC issue will not materially affect profitability.

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

Investors Mutual notes ASIC proceedings over the First Guardian collapse are a clear overhang, driving falls of around 19% and 21% in consecutive months.

What does EQT Holdings Ltd (ASX:EQT) do?

EQT Holdings Ltd, founded in 1888 and headquartered in Melbourne, Australia, provides specialized fund management and trustee services. The company operates through two primary segments: Corporate and Superannuation Trustee Services (CSTS) and Trustee and Wealth Services (TWS). CSTS delivers global fiduciary services for managed investment schemes, debt, securitizations, custody, and real estate arrangements for corporate clients and fund managers. TWS offers personal and community trustee services for private clients. EQT Holdings operates as a key provider of professional fiduciary and wealth management solutions.

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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