Great British Stock Ideas! - June 2026

📉🤔⚖️

Thesis: “A vertically integrated multi-beverage manufacturer and brand owner… In my assumption I also went with an exit multiple of 10x earnings which is below the historical average at which A.G. Barr has traded. Based on my assumption I have come to a buy price of £4.82 compared to the current stock price of £6.41 which means right now A.G. Barr is trading above its intrinsic value.”

⛏️🔄📈

Thesis: The prospective merger between Anglo American and Teck Resources offers reasonable value, particularly if Anglo American can successfully mitigate current losses by offloading its De Beers and coal assets near book value. Although the deal has not yet finalised, the combination of Teck’s conservative balance sheet, the potential for rising copper prices, and anticipated capital returns suggests the combined entity could remain a strong investment despite the dilution required for the buyout.

🏺⏳💎

Thesis: “A business in Staffordshire that has been making pottery and ceramic tableware since 1795. It has survived numerous wars, pandemics, and the decline of industrial Britain. The Roper family has run it for over a century; it carries no debt; it delivers 98% of orders within 48 hours. The business has consistently earned returns on invested capital that leave its larger, more celebrated competitors behind, and it is currently valued by the market at prices last seen in July of 2013.”

🏢🔨💷

Thesis: “Derwent buys tired but well‑located buildings in nice districts and refurbishes or redevelops them. They lease on multi‑year terms to a diversified base of high quality tenants.… I think this is worth around 2800p versus 1700p today. There’s a good yield, tangible asset backing, buybacks in motion and a visible earnings path.”

👁️💻📊

Thesis: “Eagle Eye’s AIR platform is a cloud-based Sofware-as-a-Service (SasS) marketing technology (MarTech).” The author presents a base case discounted cash flow (DCF) model that £EYE at 639p per share. This valuation highlights a significant disconnect between the company’s current market pricing and its intrinsic value, a gap further underscored by the much higher valuation multiples seen in recent industry acquisitions like Talon.One.

🧪⛏️🚀

Thesis: “While gasification projects take years to develop and commercialise, the company has bolted on near-term copper and gold exploration... The logic is that exploration assets can re-rate quickly on drill results. Gasification projects re-rate slowly, on commissioning milestones… Forgent is not, shall we say, a wonderful investment… But at a market cap of <£1 million — less than what the market assigns to an empty shell — the stock is pricing in virtually nothing for the Australian exploration assets and nothing for the technology platform. Keeping an eye on it.”

🏙️🏗️💰

Thesis: “A FTSE 250 property investment and development company with a £3.1bn portfolio of London real estate… I view GPE as a best in class real estate owner and developer, with a proven track record of managing property cycles and delivering attractive capital returns to shareholders. I think the Group’s valuation does not reflect the quality of its assets, including its attractive development pipeline.”

🥐📈🇬🇧

Thesis: “A business that has spent the past eight decades doing one thing well: feeding [Great] Britain cheaply and reliably… My estimates would imply a potential share price in the region of £36, representing approximately 140% upside from current levels. It seems to me that the market may be placing undue weight on near-term uncertainties, while giving insufficient credit to the durability of the moat, the returns embedded within incremental investment and return of capital to shareholders.”

🛡️💵🌪️

Thesis: Lancashire Holdings has pivoted from a high-volatility, niche insurer into a diversified and resilient platform with a robust capital ratio of 254%, significantly cushioning it against future “big ticket” catastrophes. Trading at an attractive 7x earnings with a projected double-digit dividend yield, the company represents a compelling value play where management consistently prioritizes shareholders by distributing approximately 90% of operating cash flow.

Share British Alpha

📱🎯📢

Thesis: “LBG distributes content to an audience of over five hundred million people across a portfolio of channels.” “[It] trades at just above 4x forward EV/EBIT with negative net debt. The business has sustained high double-digit returns on invested capital for the last 5 years. Most of its direct competitors have filed for bankruptcy, or are under distress. The market has looked at this and concluded that the shares are worth 70% less than they were at IPO. I believe the market has made an error offering a compelling business for almost 30 cents on the dollar.”

🏬📜💸

Thesis: “LondonMetric operates primarily as a Triple Net Lease (NNN) investor… This structures the cash flows to mimic infrastructure bonds, allowing the company to retain 98.5% of its gross rental income as profit, entirely bypassing the maintenance costs that plague multi-tenant portfolios… the core investment thesis relies on whether management are able to keep adding to the portfolio they already have (and increase rents faster than inflation!). Eventually, the market will appreciate and recognise the quality of this REIT.”

⚖️🏆🥇

Thesis: “Did India steal a literal gold mine?” “We start with a gold project in Rajasthan that the Indian government decided it wanted for itself… [£PAT are] currently sitting at a market cap of roughly £50 million. It’s pursuing a US$1.58 billion damages claim against the Republic of India at the Permanent Court of Arbitration in The Hague, with a hearing scheduled for December 2026.”

🧬💊📈

Thesis: “A biotech venture/holding company” “PRTC is a SOTP long whose market cap is anchored to cash plus royalty/milestone payments derived from BMS’ Cobenfy. Unlike SOTP longs outside of biotech, one can be fairly confident that if the parts are indeed valuable, that value will be realized as clinical data reveal it. At today’s price the market is ascribing no value to a few other assets with good PoS and large market opps. If you take the view that cash isn’t a value backstop in biotech, as I do, the ex-Cobenfy assets are still far too cheap.”

📚🤖🏰

Thesis: “RELX operates in markets where scale, data, and workflow integration matter. Across most of its divisions, it holds leading market positions built over decades… The market, however, still seems uncertain whether to value RELX as a legacy publisher facing disruption or as a higher-quality analytics and workflow platform with durable competitive advantages in the AI era. The next two to four quarters will likely determine which interpretation proves correct.”

🔬🛡️💡

Thesis: Science Group is a high-return STEM consultancy and technology developer currently undervalued by the market despite a strong track record of outperformance and a strategic shift toward high-margin defence exposure. The thesis is bolstered by disciplined capital allocation, including share buybacks and opportunistic acquisitions that leverage a robust, net-cash balance sheet to drive future value.

⛏️🧭🚀

Thesis: “A small, early-stage copper explorer… If this team finds even one significant deposit across their combined licence package — and the geological setting, neighbour quality, team experience and existing data all suggest the ground is prospective — the numbers look very different indeed from the starting point. The geophysics results are coming. The drill programmes are being planned. They plan to find metal.”

🏠📉⏳

Thesis: Housebuilder. “Looks like a hopeful play on positive market dynamics, including a Bank of England rate reduction and increased mortgage demand or affordability. The current price is not unreasonable, especially considering the value of the land available to the company, but it does rely on some market catalysts to become good value currently without relying on unsustainable reductions in asset values. I am happy to continue to hold, but I do fear there could be more short-term value erosion.”

🌐💰🧩

Thesis: “Team Internet is a three-segment digital group whose Board has spent six months telling the market that they are confident they will be able to sell one of those segments for materially more than the market cap (segment sale ~£120m vs Mcap today of £81m). Either the market is right that the sale process is fragile or unlikely, or the setup is one of the cleaner break-up arbitrages available today, leaving an investor with two segments and their combined ~$21m EBITDA “for free”.”

📦📲🔧

Thesis: It “provides specialist software, rugged mobile devices and managed services for businesses that need to track, control, secure or prove the movement of people and products… I am not paying for a successful turnaround. I am paying roughly asset value plus a small amount for a still-under-earning operating business. If management merely stabilises it, I probably do okay. If they genuinely improve the commercial engine, the upside becomes much larger than the downside. And if they can eventually compound cash intelligently, then the current valuation will look silly in hindsight.”

🏘️📊⚡

Thesis: Partnership housebuilder. “The market seems to be pricing in a business with structurally weak returns, yet management is explicitly targeting stronger cash generation, lower debt and a move to net cash. If margins recover even modestly, and if some of that cash flow is used to repurchase shares, while liabilities come down, the equity value per share can move a lot. There is a lot of risk in this story, but it may be one where the market is still too anchored in the past to do the propper maths.”

🏗️🔄💷

Thesis: Vistry Group is transitioning from a traditional house-building model to a capital-light “Partnership” approach that utilises strong relationships with local UK authorities to deliver significantly higher returns on invested capital. Despite a recent 50% share price decline caused by isolated cost-reporting errors, management intends to return £1 billion to shareholders, positioning the company as an undervalued business with growth prospects.

🎮🎰📈

Thesis: “A London, UK-headquartered, technology-led, entertainment business focused on the UK prize draw market and the Romanian online gaming sector... Applying a modest 8.5x enterprise value to EBITDA multiple would imply an enterprise valuation of £561 million, or a market capitalization of £582 million, assuming a similar cash position in 2028. That would represent roughly 2.3x upside from the current share price not including the 5-7% annual dividends (based on EPS estimates and current share price) the Company has previewed.”

🌍💸🏦

Thesis: “A scaled cross-border network, where direct payment access, licences, compliance infrastructure, customer trust and embedded partnerships all reinforce one another… Wise is not just a rates-supported fintech; it is a deepening global money network with real Platform optionality and a valuation the market may still be viewing through the wrong lens.”

✈️🛍️💼

Thesis: “A structurally high-quality travel operator masquerading as a stressed, debt-laden high-street retailer. It is a cyclical turnaround with real lease friction, rigid MAG obligations and near-term margin compression. However, with a clear post-maturity refinancing runway , rigorous capital allocation guards in place and a management team tightly incentivised to prioritise bank debt paydown, the balance sheet evolution makes it worth some serious consideration from fundamentals-driven investors who can tolerate near-term volatility.”