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NextDC (ASX:NXT), the data centre operator, is a core AI infrastructure holding for many fund managers. In August 2026, Pendal Group said NextDC beat FY26 forecasts and raised FY27 EBITDA guidance 5% above consensus, implying larger upgrades for FY28 and beyond as orders convert to billings. Pendal also rated it a buy, citing a high-quality portfolio, attractive land bank and strong relationships with top-tier clients. Wilson Asset Management rated it a hold, citing the ongoing need to raise capital to fund growth, and Pendal noted sell-offs on concerns about hyperscaler competition and data centre overbuild. NextDC operates in the Information Technology sector within the IT Services industry, and Thesis Tracker has captured 64 comments from 22 fund managers, including Pendal Group and Wilson Asset Management. Founded in 2010 by Bevan Slattery and headquartered in Brisbane, NextDC develops and operates colocation data centres across Australia and Asia.
Company figures as of 15 Oct 2026. For information only.
Fund managers including Oracle Advisory Group, Yarra Capital Management, Pengana Capital Group, Pendal Group, Clime Investment Management, DS Capital, Equity Trustees Asset Management, Wilson Asset Management, Blackwattle Investment Partners, Paradice Investment Management, SG Hiscock & Company, Firetrail Investments, Ellerston Capital, Antares Capital, Lennox Capital Partners, ELM Responsible Investments, Allan Gray, Infinity Asset Management, Maple-Brown Abbott, Milford Asset Management, Perennial Partners and Sage Capital have invested in Nextdc Ltd (ASX:NXT).
Pendal highlights earnings beats, upgraded EBITDA guidance, a large contracted order book converting to revenue, a high-quality portfolio and land bank and strong ties with hyperscale customers.
Wilson Asset Management notes the constant need to raise capital to fund growth, and Pendal observed sell-offs on fears of data centre overbuild and hyperscalers such as Meta monetising their own capacity.
NextDC Ltd. is an Australian data center operator and developer founded in 2010 by Bevan Slattery. Headquartered in Brisbane, the company provides mission-critical infrastructure across five core segments: VIC, NSW/ACT, Rest of Australia, International, and Other. NextDC specializes in the operation and development of high-tier data center facilities, supporting enterprise-grade connectivity and cloud service requirements. Since its inception, the company has expanded its footprint to deliver scalable data solutions, serving as a key player in Australia's digital infrastructure market.
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.