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 | “IDP Education was another of the Fund's largest detractors. An extremely difficult, anti-immigration environment has not improved for this student placement and English language testing business. IDP's volumes were decimated in Canada and pummelled in the UK. Earlier signs that Australian student placement volumes might be at least stabilising were not sustained, while the political climate in the major destination markets remains difficult. But the business is not without levers to pull. Student placement and language testing pricing has been outperforming expectations, an IELTS launch in China provides a potential new growth channel and management has increased the targeted cost savings. Earnings in the current financial year are coming in largely to expectation but the timing of any recovery has now been delayed.” | NEUTRAL | Q2 2026 Jul 15, 2026 | View Pitch |
Longleaf Partners Global Fund Ross Glotzbach | “Leading international student placement agency and high stakes English testing service provider IDP Education was a detractor for the quarter. The company upgraded its FY26 guidance for cost reduction, reaffirmed EBIT in the target range and announced a meaningful share buyback plan driven by strong cash conversion, an improving leverage ratio and an attractive valuation. Despite this, the stock underperformed for two key reasons. First, policy headwinds have worsened in recent months in IDP's key destination markets of Australia and the UK. Second, IDP was removed from the ASX 200 index leading to technical selling by funds tracking the index. In an uncertain policy environment when universities are subject to much stricter compliance standards, they need high quality students (whose primary aim is education, rather than immigration) and hence rely even more on high-quality agencies like IDP. We expect IDP to gain share and emerge stronger from this slowdown. IDP has multiple levers it can pull including increased pricing, further cost reduction and China English testing market entry to offset some of the impact of reduced volumes. We added to our investment in the quarter as the stock price pulled back to highly attractive levels. As of June 30, 2026, the top ten holdings for the Longleaf Partners Global Fund: IDP Education Ltd. 4.5%” | BEAR | Q2 2026 Jul 11, 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.
