What smart money is saying about LG H&H
051900.KS
No fund has written a full thesis on LG H&H in our archive, but 1 fund letter reports a position in it — most recently Oldfield Partners Overstone Global All Cap Value Fund in September 2025.
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1
Reported positions
0
Bought
0
Sold
1
Letter
Position history
Every position in LG H&H on record in the archive was reported in Q3 2025, across 1 fund letter, with no move described.
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q3 2025 | 1 | 0 | 0 | 0 |
Fund activity · 1 position
- September 2025
“The largest negative contributors to performance were J D Wetherspoon (-12.0%, total return in local currency), LG H&H (-11.9%) and Heineken (-6.6%). J D Wetherspoon underperformed as UK pub operators continued to face pressure from weak consumer confidence, elevated wage and energy costs, and like-for-like sales growth that struggled to offset inflation. At 11x price to earnings the shares trade at a greater than 50% discount to their 10-year median multiple of over 17x, offering substantial upside. LG H&H performance reflected ongoing structural challenges in China, its key overseas market. The company also faces profit headwinds from increased marketing expenditure and the poorly performing drink bottling business. The preference shares, in which the fund is a shareholder trade at over a 60% discount to the ordinary shares, offering an additional margin of safety.”
LG H&H
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