Fund managers including Cerutty Macro Fund, Asymmetric Asset Management, Ryder Capital, Ellerston Capital, Sandon Capital, Perennial Partners, Wentworth Williamson, Cromwell Funds Management, Yarra Capital Management and Balmoral Investors have invested in Fleetwood Ltd (ASX:FWD).

Managers highlight the strength of Searipple in a tight Karratha accommodation market, decisive portfolio simplification under new management, strong cash generation and an improving Building Solutions order book and tender pipeline, according to Yarra, Perennial and Sandon. Balmoral expects the Red Dog Village acquisition and improving earnings quality to re-rate the company.

Sandon notes a CEO change in late 2025 disappointed some investors and triggered a sharp share price fall, and Building Solutions results have been affected by restructuring costs, so execution of the turnaround remains key.

Fleetwood Ltd., founded in 1964 and based in East Perth, Australia, is a manufacturer and retailer of caravans, marine equipment, campers, and fiberglass canopies. The company also provides transportable and portable accommodation solutions. Fleetwood operates through three core segments: RV Solutions, which manufactures and distributes recreational vehicle parts; Building Solutions, which designs and sells manufactured accommodation; and Community Solutions, which manages community operations. The business focuses on the integrated delivery of accommodation and recreational vehicle products.