Thesis TrackerAfter two failed takeover processes, a Takeovers Panel ruling and a boardroom overhaul, fund managers argue the lender's value has been trapped by governance rather than performance, and that asset sales could release it.
Flagship Investments initiated a position in Commonwealth Bank of Australia (ASX: CBA), adding Australia's largest bank by market capitalisation back into the portfolio. CBA provides retail, business and institutional banking services. Flagship believes its competitive position and focus on using technology to drive banking efficiency make it an attractive long-term investment.
L1 Capital holds a short position in Commonwealth Bank of Australia (ASX: CBA), which fell 8% after its FY26 results. Headline earnings were slightly ahead of expectations, but L1 notes the beat came largely from lower impairment charges, with underlying earnings broadly in line. Falling mortgage applications, intensifying lending and deposit competition, and elevated cost growth signal a material slowdown in earnings growth, prompting investors to reassess a valuation of about 23 times forward earnings.
General information only. Thesis Tracker is a database of 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.
12,463 comments from 167 managers on 778 companies, snapshot 2 Nov 2026.
After two failed takeover processes, a Takeovers Panel ruling and a boardroom overhaul, fund managers argue the lender's value has been trapped by governance rather than performance, and that asset sales could release it.
Flagship Investments initiated a position in Commonwealth Bank of Australia (ASX: CBA), adding Australia's largest bank by market capitalisation back into the portfolio. CBA provides retail, business and institutional banking services. Flagship believes its competitive position and focus on using technology to drive banking efficiency make it an attractive long-term investment.
L1 Capital holds a short position in Commonwealth Bank of Australia (ASX: CBA), which fell 8% after its FY26 results. Headline earnings were slightly ahead of expectations, but L1 notes the beat came largely from lower impairment charges, with underlying earnings broadly in line. Falling mortgage applications, intensifying lending and deposit competition, and elevated cost growth signal a material slowdown in earnings growth, prompting investors to reassess a valuation of about 23 times forward earnings.
General information only. Thesis Tracker is a database of 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.
12,463 comments from 167 managers on 778 companies, snapshot 2 Nov 2026.
