Managers / Q1 2025 · 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 $343M in U.S.-listed holdings across 25 positions for Q1 2025.
Its largest position, AAPL, represents 9.7% of the portfolio.
Compared with Q4 2024, the fund opened 4 new positions and exited 2.
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 · 75.7% · $260M
- Other · 11.4% · $39M
- REIT · 7.6% · $26M
- ADR · 5.4% · $18M
Quarter-over-Quarter Changes full breakdown →
vs Q4 2024 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| Aptiv PLC | NEW | +184.7K | 184.7K | +$11M | $11M |
| NOWServiceNow Inc | NEW | +11.7K | 11.7K | +$9M | $9M |
| FERGFerguson Enterprises Inc | NEW | +47.5K | 47.5K | +$8M | $8M |
| ICON PLC | NEW | +33.6K | 33.6K | +$6M | $6M |
| GOOGLAlphabet Inc | SOLD OUT | −93.9K | 0 | −$18M | $0 |
| URIUnited Rentals Inc | SOLD OUT | −10.7K | 0 | −$8M | $0 |
| RYANRyan Specialty Holdings Inc | TRIMMED | −43.6K | 141.3K | −$1M | $11M |
| IBKRInteractive Brokers Group Inc | TRIMMED | −24.9K | 107.3K | −$5M | $18M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q1 2025
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 ↗.