Institutional ticker directory tracking stock mentions, long/short ideas, and high-conviction pitches extracted from quarterly hedge fund letters.
| Ticker | Company | Sector | Industry | Pitches | Stance |
|---|---|---|---|---|---|
| Fund / Manager | Thesis Excerpt | Stance | Period / Date | Action |
|---|---|---|---|---|
Forager Australian Shares Fund Steve Johnson | “Cuscal, currently the largest investment in the Fund, contributed 3.4% to performance last year. The business sits behind Australia's payments system, providing the infrastructure that enables transactions for mostly smaller banks, credit unions and fintechs. That gives the business an attractive combination of recurring transaction-driven revenue, structural growth and high switching costs. Solid organic transaction growth, up 8% in the half-year to December, underpins margin expansion, especially as the business cuts losses from a small unprofitable segment. The recent acquisition of competitor Indue further strengthens its competitive position, with synergies from this acquisition coming through over the next few years. And another acquisition in New Zealand, at a very attractive valuation and paired with a capital raise, has finally attracted more eyes to the business. Cuscal finished 68% higher for the year, with the size of the business and likely index inclusion now attracting more attention from brokers and investors.” | NEUTRAL | Q2 2026 Jul 15, 2026 | View Pitch |
Each excerpt above is the manager's commentary on this ticker specifically. The full letter has the rest of their portfolio thinking, risk discussion, and broader institutional context.
