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Super Retail Group Ltd ASX:SUL

0 opened or increased3 held0 reduced or exitedlatest position by manager, past 12 months90 days: 0 increased, 0 reduced. 3 managers in total.

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

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

20 Apr 2026 to today

Commentary Showing 2 of 3

DateManagerActionSummary

28 Sep 2026Merlon Capital PartnersHeldMerlon Capital Partners continues to hold Super Retail Group because it believes the Supercheap Auto franchise is more defensive than other retailers, yet the stock has been sold off alongside its more discretionary retail peers. Merlon notes this broad selling has not distinguished between the resilience of Super Retail's core Supercheap Auto business and the greater cyclicality of discretionary competitors, suggesting the share price of around $12.62 reflects sector-wide sentiment rather than the relative defensiveness of the business.

Article, price recorded $12.62

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30 Jun 2026Medallion FinancialHeldMedallion Financial holds Super Retail Group because, across its four key businesses of Supercheap Auto, Rebel Sport, Macpac and BCF, Supercheap Auto stands out as a high-quality performer even in a tough operating environment, while Macpac and BCF have struggled amid weaker outdoor sentiment and Rebel Sport faces its own competitive pressures. The manager views the current valuation as fairly attractive following a significant pullback, with the business operationally holding its own, but lacks conviction that a broader macro backdrop will provide the catalyst needed for a meaningful turnaround.

Article, price recorded $13.18

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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 3 managers first commented on SUL.

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About Super Retail Group Ltd

Consumer Discretionary, Specialty Retail

Super Retail Group (ASX:SUL), owner of Supercheap Auto, Rebel, BCF and Macpac, has been weighed down by slowing sales. In September 2026, Merlon Capital Partners said it believes Super Retail's Supercheap Auto franchise is more defensive than other retailers but has been sold off alongside more discretionary peers. Medallion rated Super Retail a hold, noting outdoor-focused Macpac and BCF are more exposed to sentiment, and Pendal reported a material slowdown in trading, with sales growth moderating from 3.5% early in the year. Super Retail Group operates in the Consumer Discretionary sector within the Specialty Retail industry, and Thesis Tracker has captured 2 comments from 2 fund managers, Merlon and Medallion, with Pendal also commenting. Headquartered in Brisbane, Super Retail Group operates Supercheap Auto, Rebel, BCF and Macpac stores across Australia and New Zealand, with a large loyalty program and growing online sales.

Market cap: $3.1b
Price to earnings: 15.3x
Return on equity: 15.7%
Dividend yield: 4.5%
Price to book: 2.40x
Net margin: 4.9%
52-week range: $10.08 to $17.65

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

Questions

Who is investing in Super Retail Group Ltd (ASX:SUL)?

Fund managers including Pendal Group, Medallion Financial and Merlon Capital Partners have invested in Super Retail Group Ltd (ASX:SUL).

What opportunities or catalysts do fund managers highlight for Super Retail Group Ltd?

Merlon highlights the defensive nature of Supercheap Auto, which it believes has been unfairly sold off with more discretionary retailers.

What are the key risks to the Super Retail Group Ltd investment thesis, according to fund managers?

Pendal notes a material slowdown in trading, and Medallion highlights the sensitivity of its outdoor brands, Macpac and BCF, to consumer sentiment.

What does Super Retail Group Ltd (ASX:SUL) do?

Super Retail Group Ltd is an Australian retail and distribution company focused on auto parts, tools, sports equipment, apparel, and outdoor products. Its segments are Supercheap Auto, Rebel, BCF, and Macpac. Supercheap Auto sells auto parts, accessories, tools, and equipment. Rebel retails sporting equipment and apparel. BCF offers boating, camping, outdoor, fishing equipment, and apparel. Macpac sells apparel, camping, and outdoor equipment. Founded in 1972 by Reginald Allen Rowe and Hazel Rowe, the company is headquartered in Strathpine, Australia.

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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