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Harvey Norman (ASX:HVN), the retail and property group, has been a strong performer for value managers. In November 2025, Contact Asset Management said Harvey Norman, an important investment for its fund, had been very strong over the past year and provided a positive trading update at its AGM. Ten Cap took profits after the update, warning of tougher comparisons into year-end and the end of the rate-cutting cycle, while Longwave selected Harvey Norman as its 2025 Christmas stock, describing it as a quality business suitable for a long-term portfolio. Harvey Norman operates in the Consumer Discretionary sector within the Multiline Retail industry, and Thesis Tracker has captured 11 comments from 6 fund managers, including Contact, Ten Cap and Longwave. Founded in 1982 and headquartered in Sydney, Harvey Norman franchises retail stores selling electrical goods, furniture and homewares in Australia, operates company stores overseas and owns a large property portfolio.
Company figures as of 15 Oct 2026. For information only.
Fund managers including Longwave Capital, Contract Asset Management, Contact Asset Management, BKI Investment Company, Spheria Asset Management and Ten Cap have invested in Harvey Norman Holdings Ltd (ASX:HVN).
Contact and Longwave highlight strong trading updates, a high-quality business and a valuable property portfolio underpinning long-term value.
Ten Cap took profits, noting tougher like-for-like sales comparisons ahead and a pause in interest rate cuts that could weigh on discretionary spending.
Harvey Norman Holdings Ltd., founded in 1982 and headquartered in Sydney, Australia, is a diversified retail and property company. The firm operates through several key segments: franchising, international retail (New Zealand, Singapore, Malaysia, Slovenia, Croatia, Ireland, and Northern Ireland), retail property, property development, and equity investments. Established by Gerald Harvey and Ian John Norman, the company maintains a robust portfolio across retail, franchise, property, and digital enterprise sectors. Its business model integrates physical retail operations with extensive property holdings and international franchising to drive enterprise performance.
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.