Investor Letters

Letters through February 28, 2025

1 letter reporting on the period ending February 28, 2025, in each firm's own reckoning.

Forager Funds Management Monthly Report | February 2025 Forager Australian Shares Fund cited favourable results at Bravura, Nanosonics, EML Payments, Ooh Media and Motorcycle Holdings, while Camplify and Verbrec missed prior guidance. The fund viewed MIXI's cash bid for PointsBet as a credible fallback but expected competing interest for its technology platform, customer base and Canadian operations. February 2025 PBH $209M