# FIRETRAIL INVESTMENTS PTY LTD

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1943822. Source: https://holderbook.com/funds/1943822-firetrail-investments-pty-ltd/

- Reported value: $354.7M
- Positions: 32
- Weight of the ten largest: 53.7%
- Filed: 2026-08-07

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $29.1M | 101,080 | 8.2% | 8 |
| ADVANCED MICRO DEVICES INC | [AMD](https://holderbook.com/stocks/AMD/) | $27.3M | 47,326 | 7.7% | 9 |
| TAIWAN SEMICONDUCTOR MANUFAC | [TSM](https://holderbook.com/stocks/TSM/) | $25.2M | 53,127 | 7.1% | 9 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $23.7M | 99,939 | 6.7% | 3 |
| LITHIUM ARGENTINA AG | [LAR](https://holderbook.com/stocks/LAR/) | $17.5M | 2,134,056 | 4.9% | 1 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $16.4M | 82,366 | 4.6% | 8 |
| DEERE & CO | [DE](https://holderbook.com/stocks/DE/) | $14.6M | 23,102 | 4.1% | 8 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $12.5M | 24,502 | 3.5% | 5 |
| ELEVANCE HEALTH INC FORMERLY | [ELV](https://holderbook.com/stocks/ELV/) | $12.1M | 31,530 | 3.4% | 11 |
| ICON PUB LTD CO | [ICLR](https://holderbook.com/stocks/ICLR/) | $12.0M | 69,624 | 3.4% | 6 |
| MCKESSON CORP | [MCK](https://holderbook.com/stocks/MCK/) | $11.9M | 15,910 | 3.4% | 11 |
| CADENCE DESIGN SYSTEM INC | [CDNS](https://holderbook.com/stocks/CDNS/) | $10.9M | 29,116 | 3.1% | 3 |
| ECOLAB INC | [ECL](https://holderbook.com/stocks/ECL/) | $10.5M | 37,942 | 3.0% | 11 |
| TRANE TECHNOLOGIES PLC | [TT](https://holderbook.com/stocks/TT/) | $9.8M | 20,088 | 2.8% | 9 |
| APTIV PLC | [APTV](https://holderbook.com/stocks/APTV/) | $9.6M | 158,155 | 2.7% | 6 |
| WEYERHAEUSER CO | [WY](https://holderbook.com/stocks/WY/) | $9.5M | 400,230 | 2.7% | 3 |
| KEYSIGHT TECHNOLOGIES INC | [KEYS](https://holderbook.com/stocks/KEYS/) | $9.4M | 26,873 | 2.6% | 4 |
| AUTOZONE INC | [AZO](https://holderbook.com/stocks/AZO/) | $9.3M | 2,920 | 2.6% | 11 |
| VAIL RESORTS INC | [MTN](https://holderbook.com/stocks/MTN/) | $9.0M | 66,330 | 2.5% | 5 |
| DARLING INGREDIENTS INC | [DAR](https://holderbook.com/stocks/DAR/) | $8.9M | 164,493 | 2.5% | 11 |
| INTERACTIVE BROKERS GROUP IN | [IBKR](https://holderbook.com/stocks/IBKR/) | $8.7M | 100,659 | 2.5% | 11 |
| TENABLE HLDGS INC | [TENB](https://holderbook.com/stocks/TENB/) | $8.4M | 228,861 | 2.4% | 11 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $7.1M | 19,160 | 2.0% | 1 |
| GXO LOGISTICS INCORPORATED | [GXO](https://holderbook.com/stocks/GXO/) | $6.3M | 124,971 | 1.8% | 9 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $5.7M | 17,672 | 1.6% | 4 |
| SERVICENOW INC | [NOW](https://holderbook.com/stocks/NOW/) | $5.6M | 57,097 | 1.6% | 6 |
| ALCON AG | [ALC](https://holderbook.com/stocks/ALC/) | $5.6M | 82,629 | 1.6% | 8 |
| MOODYS CORP | [MCO](https://holderbook.com/stocks/MCO/) | $5.2M | 11,464 | 1.5% | 4 |
| MONGODB INC | [MDB](https://holderbook.com/stocks/MDB/) | $4.5M | 13,420 | 1.3% | 1 |
| WELLS FARGO & CO | [WFC](https://holderbook.com/stocks/WFC/) | $3.6M | 43,465 | 1.0% | 4 |
| ISOENERGY LTD | [ISOU](https://holderbook.com/stocks/ISOU/) | $2.9M | 293,110 | 0.8% | 1 |
| INTERNATIONAL BUSINESS MACHS | [IBM](https://holderbook.com/stocks/IBM/) | $1.9M | 6,820 | 0.5% | 1 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +22.5% | +14.8% | +7.6% | 100% |
| Q1 2026 | -3.2% | -4.6% | +1.4% | 99% |
| Q4 2025 | +1.1% | +2.4% | -1.2% | 101% |
| Q3 2025 | +5.3% | +7.8% | -2.6% | 100% |
| Q2 2025 | +11.5% | +10.5% | +1.0% | 99% |
| Q1 2025 | -2.5% | -4.6% | +2.1% | 100% |
| Q4 2024 | -0.8% | +2.1% | -2.9% | 100% |
| Q3 2024 | +3.3% | +5.4% | -2.2% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $354.7M | 32 |
| Q1 2026 | $293.1M | 28 |
| Q4 2025 | $305.1M | 29 |
| Q3 2025 | $399.3M | 28 |
| Q2 2025 | $383.1M | 26 |
| Q1 2025 | $343.4M | 25 |
| Q4 2024 | $333.9M | 23 |
| Q3 2024 | $347.2M | 27 |
| Q2 2024 | $329.7M | 27 |
| Q1 2024 | $121.6M | 19 |
| Q4 2023 | $135.7M | 22 |