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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 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 |
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| 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 |
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| 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 |
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| 2025 Q1 | Mar 31, 2025 | Forager Australian Shares Fund | -0.9% | -0.9% | 2121.T, BBT.AX, BTH.AX, CAT.AX, DBI.AX, EML.AX, EQT.AX, EXP.AX, HPG.AX, MTO.AX, NAN.AX, NZX.AX, PBH.AX, PPS.AX, SMP.AX, TAH.AX, TYR.AX | Australia, healthcare, payments, Recurring Revenue, small caps, software, sports betting, takeovers | The fund holds significant positions in payment companies including Tyro, which is bidding for Smartpay to consolidate its terminal market position. The payments sector offers synergy opportunities and scale benefits, with Tyro positioned to benefit from cost savings and operational efficiencies through acquisitions. | CAT NAN NUTX |
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| 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 |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| No pitches found. | |||||||||
| 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. | ||||||||