While many institutional investors have been shying away from Fortescue, Solaris Investment Management has taken a significant position in the company. Solaris is a Brisbane-based firm that seeks companies with strong management, healthy balance sheets, and sustainable returns. Chief Investment Officer Michael Bell saw an opportunity as Fortescue's share price halved and Andrew Forrest scaled back green hydrogen ambitions. Bell notes that Fortescue's balance sheet is in good shape and management churn has slowed. He sees strong dividend support and a floor for iron ore prices near $US90 a tonne. Solaris now holds what Bell calls "a pretty decent position" in Fortescue, whose shares have rebounded more than 30 per cent from their April lows. Solaris likes to hunt for companies with improving industry dynamics and sustainable returns on equity. Bell's contrarian approach extends beyond long positions.