PNI-AX

PNI-AX

PNI-AX

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2025 Q2	Jul 27, 2025	Lakehouse Small Companies Fund	-	-	AD8.AX, ARB.AX, BAP.AX, CAT.AX, DHG.AX, FDV.AX, NAN.AX, OBJ.AX, PME.AX, PNI.AX, REA.AX, REX.AX, SDR.AX, TNE.AX, TYR.AX, XRO.AX	Australia, Compounding, healthcare, long-term, small caps, technology	The fund holds multiple technology companies including Catapult (sports technology), Pro Medicus (radiology imaging), Audinate (digital audio), and SiteMinder (hotel technology). These businesses demonstrate strong recurring revenue models, high retention rates, and significant growth runways in their respective markets.	RDX AU AD8 AU PME AU PNI AU CAT AU TNE AU ARB AU	View
2024 Q1	May 15, 2024	Lakehouse Small Companies Fund	0.0%	0.0%	AD8.AX, NWL.AX, PME.AX, PNI.AX, SDR.AX	Australia, financials, healthcare, small caps, technology	The fund focuses exclusively on Australian small cap companies, holding 22 positions with strong balance sheets. 19 of the 22 holdings maintain net cash positions, providing defensive characteristics and offensive capabilities during economic downturns.	SDR.AX NWL.AX	View
2026 Q1	Apr 9, 2026	Lakehouse Small Companies Fund	-	-	CAT.AX, CGS.AX, FCL.AX, MFG.AX, PNI.AX, SDR.AX	Australia, Geopolitical, insurance, small caps, software, technology		CAT.AX FIN.AX	View
2024 Q4	Dec 31, 2024	Lakehouse Small Companies Fund	-	36.0%	CAT.AX, NWL.AX, PNI.AX, RDX.AX, SDR.AX, XRO.AX	Australia, financials, healthcare, small caps, technology	The fund focuses exclusively on Australian small cap companies, with the S&P/ASX Small Ordinaries as its benchmark. The fund significantly outperformed this benchmark in 2024, returning 36.0% versus 8.4% for the index.		View
2025 Q3	Oct 14, 2025	Lakehouse Small Companies Fund	-	-	CAT, CAT.AX, FCL.AX, OBJ.AX, PNI.AX, RUL.AX, SDR.AX	Australia, growth, small caps, technology, Travel	SiteMinder's Investor Day confirmed strong growth momentum in the hospitality technology sector. The company demonstrated robust unit economics with customer lifetime value to customer acquisition cost exceeding 5 times across all core regions, indicating healthy growth and strong product-market fit. The Smart Platform represents significant opportunity to increase value capture from 0.3% to 1.5% of gross booking value over time.	SMM AU	View
2024 Q3	Sep 30, 2024	Lakehouse Small Companies Fund	0.0%	0.0%	NWL.AX, PNI.AX, PXA.AX, SDR.AX, TYR.AX, XRO.AX	Australia, growth, monetary policy, small caps, technology	The fund focuses exclusively on small-cap Australian companies, with the benchmark being the S&P/ASX Small Ordinaries Accumulation Index. The manager notes that historically, an environment of easing monetary policy has favoured both small-cap and growth stocks. The fund holds 22 companies with concentrated exposure to their highest conviction small-cap ideas.		View
2024 Q2	Jul 29, 2024	Lakehouse Small Companies Fund	0.0%	0.0%	AD8.AX, ALU.AX, CGS.AX, CTT.AX, IPD.AX, NAN.AX, NWL.AX, PME.AX, PNI.AX, SDR.AX, XRO.AX	Australia, growth, healthcare, long-term, Quality, small caps, technology	Healthcare positions faced challenges with Nanosonics declining 36.9% due to tougher hospital budgets, Impedimed experiencing board overhaul and sales difficulties, and new position Cogstate providing exposure to Alzheimer's research as a picks and shovels approach to the growing treatment development pipeline.	CGS.AX IPD.AX NAN.AX AD8.AX ALU.AX PME.AX	View
2025 Q1	Mar 31, 2025	Lakehouse Small Companies Fund	-	-	CAT.AX, FCL.AX, NAN.AX, PNI.AX, RUL.AX, SDR.AX	Australia, growth, healthcare, small caps, software, technology, Trade Policy	Fund holds multiple software companies including FINEOS (insurance software), Catapult (sports analytics), and RPM Global (mining software). FINEOS serves major insurers and is transitioning to subscription revenue model. Catapult aims to scale from $100M to $1B in annual contract revenue with significant market penetration opportunity.	RUL.AX NAN.AX CAT.AX PNI.AX FCL.AX	View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
Apr 13, 2026	Fund Letters	Lakehouse Small Companies Fund	Pinnacle Investment Management	Financials	Asset Management & Custody Banks	Bull	ASX	alternative assets, asset management, Australia, capital allocation, Debt Funds, Diversified Financials, Korea Investment, Private Credit	View Pitch

BSD Shareholders of PNI-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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