Join for free and get access to the buyside
Get insights from the world's most influential hedge fund investors direct to your inbox
- © 2025 Buyside Digest
- Privacy Policy
- Disclaimer
- Sitemap
- Terms of Service
| 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 |
| 2025 Q4 | Jan 14, 2026 | Lakehouse Small Companies Fund | 0.0% | 4.9% | CAT.AX, CGS.AX, FCL.AX, MFG.AX, OBJ.AX, SDR.AX | Australia, concentrated, growth, small caps, value | Magellan's Capital Partners segment includes a 36.4% stake in investment bank Barrenjoey, which has successfully disrupted the local investment banking oligopoly and transitioned from capital-intensive build phase to cash-generative harvest phase. Barrenjoey paid its maiden dividend in FY25 and is expanding offshore. Cogstate provided a trading update showing contract sales for H1 FY26 expected at US$37-40 million, up 82-97% on prior period, reflecting record pipeline and diversified wins across disease areas. The company has growing contracted backlog expected to support revenue and margin recovery through second half and beyond. | CGS AU MFG 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 |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Apr 13, 2026 | Fund Letters | Lakehouse Small Companies Fund | SiteMinder Limited | Information Technology | Application Software | Bull | ASX | Hospitality Technology, Hotel Commerce, network effects, Online Travel, platform, profitability inflection, recurring revenue, SaaS | View Pitch |
| 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. | ||||||||