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Graincorp Ltd ASX:GNC

2 opened or increased1 held2 reduced or exitedlatest position by manager, past 12 months90 days: 2 increased, 0 reduced. 6 managers in total.

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2026

17 Dec 2025 to today

Commentary Showing 2 of 13

DateManagerActionSummary

31 Aug 2026Perennial PartnersInitiatedPerennial Partners initiated a new position in Graincorp during the month, funding the purchase through profit-taking in stocks that had rallied strongly. The move reflects the manager's disciplined approach to capital allocation, trimming outperformers to fund new opportunities it views as offering better relative value, with the agribusiness added to the portfolio without additional commentary on the specific investment rationale beyond funding source.

Monthly Report, price recorded $6.18

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31 Aug 2026PM CapitalInitiatedPM Capital initiated a position in GrainCorp during the month, adding the agribusiness to the portfolio after El Nino-driven share price weakness was seen as creating an opportunity given the stock traded below its asset replacement value. The manager views the weather-related sentiment weighing on the stock as disconnected from the underlying replacement cost of GrainCorp's grain handling and processing infrastructure, supporting the decision to establish a new position at the depressed valuation.

Monthly Report, price recorded $6.18

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11 more comments on GNCPro 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 6 managers first commented on GNC.

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Articles

30 Apr 2026GrainCorp Rides a Record Crop as HMC Capital Exits Its Stake

About Graincorp Ltd

Industrials, Food Products

GrainCorp (ASX:GNC), the grain handling and agribusiness group, has been bought by fund managers on weakness linked to seasonal conditions. In August 2026, PM Capital added GrainCorp, viewing El Niño-driven share price weakness as an opportunity given it trades below asset replacement value. Perennial also established a new position. Australian Eagle noted GrainCorp is benefiting as conflict reshapes agricultural markets, while Ellerston took profits earlier, and HMC Capital reported a 17.6% fall after FY25 results and a trading update. GrainCorp operates in the Consumer Staples sector within the Food Products industry, and Thesis Tracker has captured 12 comments from 5 fund managers, including PM Capital, Perennial, Australian Eagle, Ellerston and HMC Capital. Founded in 1916 and headquartered in Sydney, GrainCorp operates grain storage, handling, logistics and marketing across eastern Australia and processes oilseeds into edible oils and animal feed.

Market cap: $1.4b
Price to earnings: Loss-making
Return on equity: -1.0%
Dividend yield: 5.4%
Price to book: 1.05x
Net margin: -0.2%
52-week range: $4.69 to $9.00

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

Questions

Who is investing in Graincorp Ltd (ASX:GNC)?

Fund managers including HMC Capital, Clime Investment Management, Australian Eagle Asset Management, Ellerston Capital, PM Capital and Perennial Partners have invested in Graincorp Ltd (ASX:GNC).

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

PM Capital and Perennial highlight a share price below asset replacement value after El Niño-related weakness, and Australian Eagle notes GrainCorp is benefiting from shifting global agricultural trade.

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

PM Capital notes El Niño-driven drought risk affecting grain volumes, and HMC Capital reported a sharp fall after FY25 results and a weaker trading update.

What does Graincorp Ltd (ASX:GNC) do?

GrainCorp Ltd. is a Sydney-based agribusiness and food ingredients company founded in 1916. The firm operates through two primary segments: Agribusiness and Processing. The Agribusiness segment manages supply chain, origination, and the distribution of grains, oilseeds, pulses, and animal fats for feed. The Processing segment specializes in crushing, manufacturing, and distributing edible oils. GrainCorp provides essential infrastructure and ingredients across global agricultural markets.

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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