Managers / Q1 2024 · view latest →
FIRETRAIL INVESTMENTS PTY LTD
CIK 0001943822 · SUITE 1702, LEVEL 17, 1 MACQUARIE PLACE, SYDNEY, NSW, C3, 2000 · 1300360306
Summary
Firetrail Investments Pty Ltd reported $122M in U.S.-listed holdings across 19 positions for Q1 2024.
Its largest position, MSFT, represents 11.4% of the portfolio.
Compared with Q4 2023, the fund opened 2 new positions and exited 5.
Portfolio Metrics
Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.
Reported Value by Quarter
Portfolio Composition
- Common Stock · 89.3% · $108M
- REIT · 7.6% · $9M
- Other · 3.1% · $4M
Quarter-over-Quarter Changes full breakdown →
vs Q4 2023 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| EFXEquifax Inc | NEW | +17.2K | 17.2K | +$5M | $5M |
| GATES INDL CORP PLC | NEW | +215.5K | 215.5K | +$4M | $4M |
| TSMTaiwan Semiconductor Manufacturing Co Ltd | SOLD OUT | −52.4K | 0 | −$6M | $0 |
| Chubb Ltd | SOLD OUT | −21.7K | 0 | −$5M | $0 |
| NEMNewmont Corp | SOLD OUT | −110.8K | 0 | −$4M | $0 |
| HDBHDFC Bank Ltd | SOLD OUT | −64.1K | 0 | −$4M | $0 |
| Aptiv PLC | SOLD OUT | −38.6K | 0 | −$3M | $0 |
| GOOGLAlphabet Inc | TRIMMED | −39.3K | 43.1K | −$6M | $6M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q1 2024
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | MSFTMicrosoft Corphistory → | COM | 11.43% | $14M | 33.0K |
| 2 | MUMicron Technology Inchistory → | COM | 8.29% | $10M | 85.5K |
| 3 | IBKRInteractive Brokers Group Inchistory → | COM | 7.04% | $9M | 76.6K |
| 4 | MCKMcKesson Corphistory → | COM | 6.18% | $8M | 14.0K |
| 5 | VVisa Inchistory → | COM | 6.03% | $7M | 26.3K |
| 6 | ELVElevance Health Inchistory → | COM | 5.68% | $7M | 13.3K |
| 7 | ECLEcolab Inchistory → | COM | 5.50% | $7M | 29.0K |
| 8 | GOOGLAlphabet Inchistory → | COM | 5.35% | $6M | 43.1K |
| 9 | BKNGBooking Holdings Inchistory → | COM | 5.29% | $6M | 1.8K |
| 10 | TENBTenable Holdings Inchistory → | COM | 5.23% | $6M | 128.6K |
| 11 | AZOAutoZone Inchistory → | COM | 4.93% | $6M | 1.9K |
| 12 | AMTAmerican Tower Corp Newhistory → | COM | 4.66% | $6M | 28.6K |
| 13 | RYANRyan Specialty Holdings Inchistory → | COM | 4.35% | $5M | 95.3K |
| 14 | EFXEquifax Inchistory → | COM | 3.79% | $5M | 17.2K |
| 15 | URIUnited Rentals Inchistory → | COM | 3.78% | $5M | 6.4K |
| 16 | BLDRBuilders FirstSource Inchistory → | COM | 3.42% | $4M | 19.9K |
| 17 | GATES INDL CORP PLC | COM | 3.14% | $4M | 215.5K |
| 18 | DARDarling Ingredients Inchistory → | COM | 2.98% | $4M | 77.8K |
| 19 | RYNRayonier Inchistory → | COM | 2.94% | $4M | 107.5K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $293M | 28 | May 5, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $305M | 29 | Feb 4, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $399M | 28 | Nov 5, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $383M | 26 | Aug 5, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $343M | 25 | May 7, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $334M | 23 | Feb 5, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $347M | 27 | Nov 6, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $330M | 27 | Aug 8, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $122M | 19 | May 15, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $136M | 22 | Feb 9, 2024 | 13F-HR | changes · EDGAR ↗ |
13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.