31 Mar 2026Greencape CapitalWDSHeldGreencape Capital continues to hold Woodside Energy, viewing the investment case as increasingly compelling on a greater than 24-month view, with the Louisiana LNG project on track, the ammonia business performing above expectations, and strong operational execution evident. The manager's US research trip found the Louisiana LNG project 22% complete on foundation progress across three trains and fully permitted for five, with Bechtel as EPC contractor viewed favourably by all counterparties, secured pipe gas supply access into four basins, and the Beaumont Ammonia plant tracking well with attractive economics despite remaining on grey ammonia due to hydrogen and nitrogen supply delays.
31 Mar 2026Greencape CapitalORGHeldGreencape Capital continues to hold Origin Energy as a core holding, believing the market is erroneously focused on spot wholesale electricity pricing rather than the long-term value drivers of the Energy Markets business, noting growing acceptance of increased electricity demand and energy security supporting a stronger outlook. The manager also highlights that APLNG, with Brent-linked pricing, has not seen the same benefit from the recent oil price spike as Santos and Woodside, seeing value on both sides of Origin's business.
Greencape Capital is a Melbourne-based specialist Australian equities fund manager founded in 2006 by David Pace, Matthew Ryland and Marc Hester. Distributed through the Fidante Partners multi-boutique platform (owned by Challenger Limited), Greencape runs the High Conviction Fund and Broadcap Fund, taking concentrated positions across large, mid and small-cap Australian companies. Its investment philosophy rests on the belief that equity markets are inefficient and that short-termism creates mispricing opportunities, which the team exploits through extensive direct company research and management engagement. Greencape grew to manage more than $15 billion at its peak and holds top ratings from Morningstar, Lonsec and Zenith. It is also a signatory to the UN Principles for Responsible Investment.
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.
31 Mar 2026Greencape CapitalWDSHeldGreencape Capital continues to hold Woodside Energy, viewing the investment case as increasingly compelling on a greater than 24-month view, with the Louisiana LNG project on track, the ammonia business performing above expectations, and strong operational execution evident. The manager's US research trip found the Louisiana LNG project 22% complete on foundation progress across three trains and fully permitted for five, with Bechtel as EPC contractor viewed favourably by all counterparties, secured pipe gas supply access into four basins, and the Beaumont Ammonia plant tracking well with attractive economics despite remaining on grey ammonia due to hydrogen and nitrogen supply delays.
31 Mar 2026Greencape CapitalORGHeldGreencape Capital continues to hold Origin Energy as a core holding, believing the market is erroneously focused on spot wholesale electricity pricing rather than the long-term value drivers of the Energy Markets business, noting growing acceptance of increased electricity demand and energy security supporting a stronger outlook. The manager also highlights that APLNG, with Brent-linked pricing, has not seen the same benefit from the recent oil price spike as Santos and Woodside, seeing value on both sides of Origin's business.
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