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FIRETRAIL INVESTMENTS PTY LTD

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

Q4 2025 · Filed 2026-02-04
Market Value
$295M
-23.1%
Holdings
30
+1
New Purchases
3
Added To
4
Closed
2
Reduced
21
Top 10 Concentration
54.1%
Turnover
16.7%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
AMZN 3.69% 0.00% +3.69% $11M
WY 2.56% 0.00% +2.56% $8M
ANTM 3.67% 2.21% +1.46% $11M
CDNS 1.23% 0.00% +1.23% $4M
AMD 5.30% 4.13% +1.17% $16M
MCO 3.43% 2.37% +1.07% $10M
ICLR 3.41% 2.41% +1.00% $10M
KEYS 2.55% 1.98% +0.57% $8M
MA 5.38% 4.92% +0.46% $16M
DE 4.61% 4.21% +0.40% $14M
TSM 7.61% 7.25% +0.35% $22M
DAR 2.82% 2.52% +0.30% $8M
AAPL 9.44% 9.17% +0.27% $28M
MCK 5.03% 4.90% +0.13% $15M
WFC 1.35% 1.25% +0.09% $4M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
NVDA 5.12% 9.27% -4.15% $15M
FERG 0.00% 2.63% -2.63% $0
IBKR 2.15% 4.44% -2.29% $6M
RYN 0.00% 1.64% -1.64% $0
AZO 3.27% 4.30% -1.02% $10M
TT 2.60% 3.56% -0.97% $8M
NOW 2.16% 2.69% -0.52% $6M
TENB 1.79% 2.30% -0.52% $5M
MTN 2.92% 3.39% -0.47% $9M
FICO 2.91% 3.24% -0.33% $9M
BKNG 4.04% 4.24% -0.20% $12M
GXO 2.98% 3.08% -0.11% $9M
JPM 1.89% 1.94% -0.04% $6M

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 8 $117M 39.8%
Large Cap 16 $137M 46.3%
Mid Cap 6 $41M 13.9%

Portfolio Analytics

Avg Market Cap
$610.5B
Median Market Cap
$95.9B
Avg P/E
36.4
Median P/E
31.8
Avg Dividend Yield
0.01%
Avg Beta
1.12
# Stocks
30
# ETFs / Funds
0

Top Holdings (30 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 AAPL 9.44% 101,954 $28M $273.19 -$7M -37,361 -26.8%
2 TSM 7.61% 73,536 $22M $305.37 -$5M -26,958 -26.8%
3 MA 5.38% 27,672 $16M $573.66 -$3M -5,806 -17.3%
4 AMD 5.30% 72,700 $16M $215.20 -$210K -26,051 -26.4%
5 NVDA 5.12% 80,584 $15M $187.41 -$20M -111,599 -58.1%
6 MCK 5.03% 17,996 $15M $824.29 -$4M -6,524 -26.6%
7 DE 4.61% 29,085 $14M $467.84 -$3M -6,562 -18.4%
8 BKNG 4.04% 2,214 $12M $5,381.43 -$4M -823 -27.1%
9 ECL 3.90% 43,627 $12M $263.80 -$3M -10,652 -19.6%
10 AMZN 3.69% 46,954 $11M $231.95 +46,954 NEW
11 ANTM 3.67% 30,755 $11M $352.26 $2M +4,291 +16.2%
12 MCO 3.43% 19,732 $10M $513.34 $1M +527 +2.7%
13 ICLR 3.41% 54,976 $10M $183.11 $816K +1,711 +3.2%
14 AZO 3.27% 2,834 $10M $3,408.03 -$7M -1,039 -26.8%
15 GXO 2.98% 166,041 $9M $52.90 -$3M -59,432 -26.4%
16 MTN 2.92% 64,639 $9M $133.45 -$4M -23,162 -26.4%
17 FICO 2.91% 5,063 $9M $1,698.86 -$4M -3,323 -39.6%
18 DAR 2.82% 229,733 $8M $36.18 -$1M -85,592 -27.1%
19 TT 2.60% 19,584 $8M $391.10 -$6M -13,093 -40.1%
20 WY 2.56% 317,891 $8M $23.81 +317,891 NEW
21 KEYS 2.55% 36,826 $8M $204.18 -$64K -6,859 -15.7%
22 ALC 2.19% 80,612 $6M $80.26 -$2M -29,166 -26.6%
23 NOW 2.16% 41,455 $6M $153.94 -$4M +30,161 +267.1%
24 IBKR 2.15% 98,226 $6M $64.62 -$11M -151,514 -60.7%
25 JPM 1.89% 17,262 $6M $323.79 -$2M -6,506 -27.4%
26 TENB 1.79% 222,946 $5M $23.64 -$4M -82,696 -27.1%
27 WFC 1.35% 42,413 $4M $93.65 -$835K -15,382 -26.6%
28 CDNS 1.23% 11,525 $4M $314.10 +11,525 NEW
29 RYN —% -$6M -238,735 -100.0% SOLD
30 FERG —% -$10M -45,352 -100.0% SOLD

New Positions

SymbolValue% Port
AMZN $11M 3.69%
WY $8M 2.56%
CDNS $4M 1.23%

Sold Out Positions

SymbolValue% Port
RYN —%
FERG —%
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