JLG-AX

JLG-AX

JLG-AX

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2025 Q3	Sep 30, 2025	Langdon Global Smaller Companies	-2.7%	7.5%	4490.T, DOC.VI, GSHD, JLG.AX, KI, RBREW.CO, SAFE.L, YETI	cash flow, financials, global, industrials, Quality, small caps, valuation	Portfolio focuses on smaller companies with market caps between $1.5-7.5 billion where the manager finds the best combination of scalability and entrepreneurial agility. Valuations for smaller companies remain compressed relative to larger peers, with many holdings trading at mid-teens earnings multiples despite high returns on capital.		View
2025 Q2	Aug 28, 2025	TAMIM Fund Australia Small Cap Income	-	-	AHC.AX, EGG.AX, HUM.AX, JLG.AX	Australia, healthcare, small caps, takeovers, value	The fund focuses exclusively on Australian small cap equities with 20-40 holdings targeting companies with market caps typically under $100 million. The manager sees significant opportunity in this space with strong performance expectations.	JLG.AX HUM.AX EGG.AX AHC.AX HUM AU EGG AU AHC AU	View
2025 Q2	Jul 27, 2025	Forager Australian Shares Fund	11.5%	10.5%	AMA.AX, BVS.AX, CAT.AX, CHL.AX, CROX, EML.AX, EXP.AX, JLG.AX, MTO.AX, NUTX, NZX.NZ, OML.AX, PBH.AX, PPS.AX, PRN.AX, PSI.TO, RDY.AX, SOWG, THL.AX, TYR.AX	Australia, Passive flows, small caps, takeovers, technology, value	Forager focuses on smaller companies that passive funds cannot or will not own due to size constraints. The fund benefits from forced selling when stocks become too small for large portfolios and from identifying companies that will eventually attract passive buying as they grow.	EXP AU MTO AU AMA AU NZX NZ EML AU OML AU	View
2025 Q2	Jul 27, 2025	Forager International Shares Fund	17.6%	14.1%	AMA.AX, BTH.AX, BVS.AX, CAT.AX, CHL.AX, CROX, EML.AX, EXP.AX, FIX, JLG.AX, MTO.AX, NUTX, NZX.NZ, OML.AX, PBH.AX, PPS.AX, PRN.AX, RDY.AX, THL.AX, TYR.AX	Australia, Passive flows, small caps, takeovers, technology, Tourism, value	Fund focuses on smaller companies that passive giants cannot efficiently own due to size constraints. Passive flows create opportunities through forced selling when stocks become too small for large portfolios. Fund benefits from being nimble enough to invest in smaller listed companies not accessible to many investment managers.	ZETA APG TKO FLUT MTX GR FIX WISE LN 4194 CN 4733 JP 3769 JP PSI CN	View
2025 Q2	Jul 1, 2025	Langdon Global Smaller Companies	10.5%	10.5%	AGYS, AND.TO, FEVR.L, JLG.AX, TOI.TO	global, healthcare, industrials, Quality, small caps, technology, value	The manager sees attractive opportunities in industrial software and highlights Agilysys as benefiting from structural modernization trends in hospitality. Their software platform is becoming mission-critical for hotels and casinos upgrading property management systems, with the company still in early innings of capturing wallet share globally.	FEVR.L CHA.DE TOI.TO ATG.L AHG.TO AGYS JLG.AX	View
2025 Q1	May 12, 2025	Langdon Global Smaller Companies	0.0%	-	4658.T, AND.TO, DAL.L, ENX.PA, FEVR.L, JLG.AX, RBREW.CO, SKWD, WOSG.L, YETI	consumer, global, private markets, small caps, tariffs, value, volatility	Manager emphasizes the small cap universe is 10x the size of large caps, providing abundant opportunity. Despite weak IPO activity over the past three years, approximately 1,750 companies have still come to market. The fund maintains focus on building a collection of durable, value-creating businesses that can deliver strong absolute returns across market environments.		View
2024 Q3	Oct 23, 2024	Langdon Global Smaller Companies	9.0%	16.7%	CSWI, DQ, ESQ, FEVR.L, GSHD, HEINY, JLG.AX, MEDP, NVDA, ROYAL.CO, YETI	Europe, global, Research, small caps, software, Travel	The manager spent 2+ months in Lyon, France testing an extended stay approach to investment research, conducting dozens of meetings across Western Europe. This 'invest like a local' philosophy involves understanding local context through extended presence rather than brief hotel-based visits.	ALSK.PA YETI	View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
Apr 13, 2026	Fund Letters	Langdon Global Smaller Companies	Johns Lyng Group	Industrials	Construction & Engineering	Bull	ASX	Australia, Building Restoration, construction, Disaster Recovery, Insurance, take-private, turnaround	View Pitch
Apr 13, 2026	Fund Letters	TAMIM Fund Australia Small Cap Income	Johns Lyng Group	Industrials	Construction & Engineering	Bull	ASX	Australia, Building Restoration, Construction services, cyclical business, founder-led, Insurance Restoration, Private Equity Takeover, value investing	View Pitch

BSD Shareholders of JLG-AX

This report provides a detailed summary of investor holdings for a specified stock ticker, highlighting key metrics such as fund name, total assets under management (AUM), invested value, portfolio weight, and shares owned. It also tracks changes in share ownership during the last quarter, including the percentage of shares bought or sold and the percentage of outstanding shares owned. The data is generated using an API that processes investor holdings and calculates these values for each fund. This report helps investors and analysts monitor the stock positions of major funds, identify investment trends, and assess the influence of large investors on individual stocks.

Filing Date: September 30, 2025

Manager Name	Fund Name	Fund AUM	Invested Value	Portfolio Weight	Shares Owned	Shares Bought / Sold During Quarter	% Bought / Sold During Quarter	% of Shares Outstanding Owned
No investor data available.

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