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FIRETRAIL INVESTMENTS PTY LTD

SUITE 1702, LEVEL 17 1 MACQUARIE PLACE, SYDNEY, NSW, C3 2000 • 1300360306

Q3 2025 · Filed 2025-11-05
Market Value
$384M
+3.5%
Holdings
29
+2
New Purchases
4
Added To
1
Closed
2
Reduced
22
Top 10 Concentration
56.8%
Turnover
20.7%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
MCO 2.37% 0.00% +2.37% $9M
KEYS 1.98% 0.00% +1.98% $8M
JPM 1.94% 0.00% +1.94% $7M
FICO 3.24% 1.56% +1.68% $12M
WFC 1.25% 0.00% +1.25% $5M
AAPL 9.17% 8.06% +1.11% $35M
NVDA 9.27% 8.30% +0.97% $36M
TSM 7.25% 6.59% +0.67% $28M
AMD 4.13% 3.79% +0.34% $16M
ICLR 2.41% 2.09% +0.32% $9M
AZO 4.30% 4.03% +0.27% $16M
RYN 1.64% 1.43% +0.21% $6M
GXO 3.08% 2.96% +0.12% $12M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
AMT 0.00% 3.76% -3.76% $0
RYAN 0.00% 2.51% -2.51% $0
IBKR 4.44% 6.27% -1.83% $17M
DAR 2.52% 3.23% -0.71% $10M
BKNG 4.24% 4.94% -0.70% $16M
DE 4.21% 4.89% -0.67% $16M
ANTM 2.21% 2.78% -0.56% $8M
ALC 2.11% 2.61% -0.49% $8M
TENB 2.30% 2.78% -0.48% $9M
NOW 2.69% 3.13% -0.44% $10M
MTN 3.39% 3.74% -0.34% $13M
TT 3.56% 3.85% -0.29% $14M
MA 4.92% 5.10% -0.17% $19M
ECL 3.84% 3.94% -0.10% $15M
MCK 4.90% 4.99% -0.10% $19M

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Technology 39.5%
Consumer Cyclical 14.1%
Healthcare 12.8%
Financial Services 11.8%
Industrials 10.9%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 7 $146M 37.9%
Large Cap 15 $179M 46.7%
Mid Cap 7 $59M 15.3%

Portfolio Analytics

Avg Market Cap
$531.7B
Median Market Cap
$85.7B
Avg P/E
34.1
Median P/E
31.1
Avg Dividend Yield
0.01%
Avg Beta
1.09
# Stocks
29
# ETFs / Funds
0

Top Holdings (29 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 NVDA 9.27% 192,183 $36M $185.16 $5M -3,466 -1.8%
2 AAPL 9.17% 139,315 $35M $252.69 $5M -6,885 -4.7%
3 TSM 7.25% 100,494 $28M $277.16 $3M -7,769 -7.2%
4 MA 4.92% 33,478 $19M $564.47 -$4K -281 -0.8%
5 MCK 4.90% 24,520 $19M $766.65 $275K -851 -3.4%
6 IBKR 4.44% 249,740 $17M $68.29 -$6M -171,731 -40.8%
7 AZO 4.30% 3,873 $16M $4,257.54 $2M -164 -4.1%
8 BKNG 4.24% 3,037 $16M $5,358.12 -$2M -137 -4.3%
9 DE 4.21% 35,647 $16M $453.77 -$2M -128 -0.4%
10 AMD 4.13% 98,751 $16M $160.56 $2M -703 -0.7%
11 ECL 3.84% 54,279 $15M $271.77 $128K -195 -0.4%
12 TT 3.56% 32,677 $14M $418.74 -$609K -118 -0.4%
13 MTN 3.39% 87,801 $13M $148.43 -$830K -747 -0.8%
14 FICO 3.24% 8,386 $12M $1,485.12 $7M +5,205 +163.6%
15 GXO 3.08% 225,473 $12M $52.49 $856K -788 -0.3%
16 NOW 2.69% 11,294 $10M $913.27 -$1M -40 -0.3%
17 FERG 2.63% 45,352 $10M $222.87 $173K -441 -1.0%
18 DAR 2.52% 315,325 $10M $30.63 -$2M -1,137 -0.4%
19 ICLR 2.41% 53,265 $9M $173.67 $2M -188 -0.3%
20 MCO 2.37% 19,205 $9M $472.85 +19,205 NEW
21 TENB 2.30% 305,642 $9M $28.94 -$1M -1,087 -0.3%
22 ANTM 2.21% 26,464 $8M $320.66 -$2M -96 -0.4%
23 ALC 2.11% 109,778 $8M $73.94 -$2M -389 -0.3%
24 KEYS 1.98% 43,685 $8M $173.59 +43,685 NEW
25 JPM 1.94% 23,768 $7M $313.03 +23,768 NEW
26 RYN 1.64% 238,735 $6M $26.34 $993K -843 -0.3%
27 WFC 1.25% 57,795 $5M $83.18 +57,795 NEW
28 RYAN —% -$9M -137,533 -100.0% SOLD
29 AMT —% -$14M -63,375 -100.0% SOLD

New Positions

SymbolValue% Port
MCO $9M 2.37%
KEYS $8M 1.98%
JPM $7M 1.94%
WFC $5M 1.25%

Sold Out Positions

SymbolValue% Port
RYAN —%
AMT —%
View SEC EDGAR Filings for FIRETRAIL INVESTMENTS PTY LTD →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms