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Westpac Banking Corp ASX:WBC

2 opened or increased6 held2 reduced or exitedlatest position by manager, past 12 months90 days: 1 increased, 0 reduced. 13 managers in total.

Position history by manager Showing 3 of 13 managersSelect a point to see the comment

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

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20252026

2 Feb 2026 to today

Commentary Showing 2 of 24

DateManagerActionSummary

14 Oct 2026Wilson Asset ManagementHeldWilson Asset Management, through portfolio strategist Damien Boey, favours Westpac Banking Corporation's 2046 fixed-rate notes as an income idea. Boey notes the notes pay about 7% a year for 20 years, providing a fixed income stream that does not fluctuate with the economic cycle, in contrast to equity dividends.

Article, price recorded $34.69

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30 Sep 2026PM CapitalInitiatedPM Capital initiated a position in Westpac Banking Corp because it was able to deploy considerable spare capital at markedly higher yields into businesses it believes can withstand softer economic environments. PM Capital describes Westpac as a leading Australian major bank. Together with investments in Melbourne, Brisbane and Auckland airports and Aurizon Network, these purchases represented almost 5% of the fund's capital and were made at yields of roughly 6.1% to 6.3%, reflecting a focus on resilient businesses providing attractive income.

Monthly Report, price recorded $35.07

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22 more comments on WBCPro 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 13 managers first commented on WBC.

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Articles

About Westpac Banking Corp

Financials, Banks

Westpac (ASX:WBC) is executing a transformation but fund managers see limited upside at current valuations. In September 2026, Wilson Asset Management noted the major banks, including Westpac, delivered broadly in-line results with a more moderate credit growth outlook. Pendal reported third-quarter profit slightly below expectations, describing the quarter as the margin peak before hedges roll off. Ten Cap reduced Westpac given full bank valuations. Westpac operates in the Financials sector within the Banks industry, and Thesis Tracker has captured 19 comments from 11 fund managers, including Wilson, Pendal and Ten Cap. Founded in 1817 and headquartered in Sydney, Westpac provides consumer, business and institutional banking in Australia and New Zealand under brands including Westpac, St.George, BankSA and Bank of Melbourne.

Market cap: $122.1b
Price to earnings: 17.3x
Return on equity: 9.8%
Dividend yield: 4.2%
Price to book: 1.70x
Net margin: 31.5%
52-week range: $33.46 to $43.32

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

Questions

Who is investing in Westpac Banking Corp (ASX:WBC)?

Fund managers including Antares Capital, Clime Investment Management, Sterling Managed Investments, Pendal Group, Auscap Asset Management, Sage Capital, Perennial Partners, Ten Cap, Solaris Investment Management, Endeavor Asset Management, PM Capital, Wilson Asset Management and Ralton Asset Management have invested in Westpac Banking Corp (ASX:WBC).

What opportunities or catalysts do fund managers highlight for Westpac Banking Corp?

Pendal notes Westpac's medium-term retail strategy focused on simplified products, improved digital capabilities and its UNITE technology transformation program.

What are the key risks to the Westpac Banking Corp investment thesis, according to fund managers?

Pendal flags margins peaking, Wilson notes a more moderate credit growth outlook, and Ten Cap sees full valuations limiting upside.

What does Westpac Banking Corp (ASX:WBC) do?

Westpac Banking Corp. is a diversified financial services provider headquartered in Sydney, Australia, founded in 1817. The company operates through six primary segments: Consumer, offering retail banking; Business, serving SME, commercial, and private wealth clients; Westpac Institutional Bank, providing services to corporate and government entities; Westpac New Zealand, delivering regional banking, wealth, and insurance products; Specialist Businesses, comprising operations slated for divestment; and Group Businesses, covering treasury, support functions, and consolidated group results. Westpac provides comprehensive financial solutions, including mortgages, credit cards, loans, advisory services, and institutional banking products.

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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