Firetrail Equity Edge | High Conviction Investing

Passive and index-style investing now dominate global and Australian equity markets while active management has been falling out of favour. But it’s our view passive investing is riskier than ever, and well-executed active management offers patient investors a better way forward. In this episode, Firetrail Managing Director Patrick Hodgens and Product Specialist Catie Ryan unpack why the tradition...

Macquarie Group (MQG) is global financial services group based in Sydney. They provide the full spectrum of financial services across banking, funds management, advisory, and also hold significant investments on their own balance sheet. In this episode, Firetrail High Conviction Fund Portfolio Manager Scott Olsson joins product specialist Ben West and tells us what he thinks really matters for MQG...

Virgin Australia Airlines has recently re-listed on the ASX. As one of only 3 airlines now operating domestic flights in Australia, Virgin holds a significant market position - but we believe the market is still undervaluing this stock. In this episode, Firetrail Australian High Conviction Analyst Oscar Gee joins product specialist Catie Ryan and tells us what he thinks really matters for Virgin's...

CATL is the world’s largest battery cell manufacturer, producing around one-third of all global battery cells. Dual-listed in China and Hong Kong, it is a key supplier to the global electric vehicle industry. In this episode, Firetrail S3 Global Opportunities Fund Portfolio Manager James Miller joins product specialist Ben West and tells us what he thinks really matters for CATL’s earnings outlook...

Agentic AI is the next frontier in enterprise automation—and ServiceNow is right at the centre of it. ServiceNow is a cloud-based software platform that helps businesses automate and streamline workflows across IT, HR, customer service, and more. The company uses agentic AI, enabling autonomous, AI-driven decision-making and task execution to boost efficiency and productivity. In this episode, glo...

DigiCo Infrastructure REIT (DGT) is an owner, operator, and developer of data centres. The business currently owns a portfolio of 10 data centres across Australia and the U.S., with additional sites under development. In this episode, Firetrail Australian High Conviction Analyst David Glasser joins product specialist Ben West and tells us what he thinks really matters for DGT’s earnings outlook, w...

Advanced Micro Devices (AMD) are one of the key architects of the digital world. They design high-performance microprocessors – essentially, the "brains" – that power a vast range of electronics. Their CPUs rival Intel in computing, while their GPUs compete with Nvidia in the booming AI space. In this episode, Firetrail S3 Global Opportunities Fund Portfolio Manager Justin Gray joins product speci...

Baby Bunting Group (BBN) is Australia’s largest specialty maternity and baby retailer, with 75 stores across Australia and New Zealand. In this episode, Firetrail Australian Small Companies Fund Analyst Carta Ryan joins product specialist Ben West and tells us what she thinks really matters for BBN’s earnings outlook, what the market is missing, and what the bull and bear case is for the company's...

In this special edition of the Firetrail Equity Edge podcast, Catie Ryan is joined by Eleanor Swanson, Co-Portfolio Manager of the Firetrail Australian Small Companies Fund, and Blake Henricks, Co-Portfolio Manager of the Firetrail Australian High Conviction Fund. This episode covers Firetrail insights on the Aussie February 2025 reporting season across large caps and small caps. Blake, Eleanor an...

Taiwan Semiconductor Manufacturing Company (TSMC) is a Taiwan based pure-play semiconductor foundry, focused exclusively on the manufacturing of logic chips. The chips TSMC manufacture are essential to many technology giants and are at the heart of numerous everyday products such as smartphones, laptops and electric vehicles. In this episode, Firetrail S3 Global Opportunities Fund Portfolio Manage...

John Deere is a U.S.-listed agricultural and construction equipment manufacturer, best known for its iconic green tractors seen on farms worldwide. With 187 years of history, Deere is a high-quality cyclical business. In this episode, global Portfolio Manager Annabel Riggs joins Catie Ryan and tells us what she thinks really matters for Deere's earnings outlook, what the market is missing, and wha...

Telstra is Australia’s leading telecommunications provider, with over 50% market share. Despite charging more than its competitors, it continues to grow its market share, highlighting the strength of its service and customer loyalty.  In this episode, Firetrail High Conviction Fund co-portfolio manager Scott Olsson joins product specialist Catie Ryan and tells us what he thinks really matters for...

In this final episode of the Firetrail Equity Edge podcast for 2024, Firetrail Managing Director Patrick Hodgens joins Catie Ryan to spotlight the newly listed ETF for the Firetrail Small Companies Fund - Active ETF (ASX: FSML). FSML offers investors access to 40–60 of Firetrail’s best small-cap ideas in a single trade, with no minimum investment. Paddy discusses what sets Firetrail’s small-cap in...

SEEK is an Australian-based online employment marketplace that connects job seekers with employers across various industries. SEEK also has a venture capital arm that invests in high growth technology businesses. In this episode, Firetrail High Conviction Fund co-portfolio manager Blake Henricks joins product specialist Catie Ryan and tells us what he thinks really matters for SEEK’s earnings outl...

Qoria (ASX:QOR) is a technology company in the rapidly-growing global parental control and cyber safety market. Qoria offers a comprehensive suite of digital safety technology including classroom management, firewall tools, parental controls, digital wellbeing resources and monitoring solutions. In this episode, small caps analyst Carta Ryan joins product specialist Catie Ryan and tells us what sh...

Fisher & Paykel Healthcare is a manufacturer and designer of products for use in respiratory care, acute care, and the treatment of obstructive sleep apnoea. In this episode, Firetrail High Conviction Fund co-portfolio manager Scott Olsson joins product specialist Catie Ryan and tells us what he thinks really matters for Fisher & Paykel Healthcare’s earnings outlook, what the market is mis...

Schneider Electric is a French listed multinational company specialising in producing all kinds of electric products at a low or medium voltage level. This ranges from something as simple as your nearest light switch to advanced electrical systems for factories and stadiums. Schneider has several powerful growth drivers including the push towards electrification, efficiency, and the rise of data c...

3i is a UK-listed investment company specialising in Private Equity and Infrastructure. Its key holding is Action, a fast-growing European retailer known for offering household goods at low prices and in bulk quantities. Action’s impressive growth and potential for expansion have made it a cornerstone of 3i’s portfolio, driving strong returns for the company. In this episode, global Portfolio Mana...

WiseTech is a software company that serves as a one-stop-shop for freight forwarding logistics. Their platform simplifies and optimizes complex supply chains, making it an indispensable tool for freight forwarders worldwide. WiseTech’s innovation and growth have secured them partnerships with major global brands like DHL and Kmart. In this episode, equity analyst Sophie Carran joins investment spe...

GXO is a US-listed logistics company specialising in warehouse operations. Their highly sophisticated and automated warehouses are built to keep up with the challenges of today’s fast-growing e-commerce. GXO’s high-quality service has earned them some of the world’s biggest brands as clients, such as Apple, Nike, and Nestle. In this episode, global Portfolio Manager Justin Gray joins Anthony Doyle...

James Hardie is a leading manufacturer of building materials. The company offers a wide range of solutions, including cladding, interior linings, flooring, and eaves, designed for both residential and commercial applications. Known for their ability to withstand harsh weather conditions, James Hardie's products are trusted by builders and homeowners alike. In this episode, Portfolio Manager Ramoun...

Santos is an Australian oil and gas exploration and production company. While Santos owns assets in liquefied natural gas, pipeline gas, and oil, it also plays an important role in the energy transition. In this episode, equity analyst Matthew Thomson joins investment specialist Eliza Clarke and tells us what he thinks really matters for Santos’ earnings outlook, what the market is missing, and wh...

BlueScope is Australia’s largest steelmaker based in Port Kembla, NSW. BlueScope is also known for making value-added steel products like COLORBOND, which has 90% market share of metal roofing in Australia. In this episode, equity analyst Dean Fremder joins investment specialist Chris Robinson and tells us what he thinks really matters for BlueScope’s earnings outlook, what the market is missing,...

Ryan Specialty is a US-based insurance broker helping businesses get insured for hard-to-insure risks. From cyber attacks to catastrophic weather events, Ryan can get clients insured without taking on any balance sheet risk. In this episode, analyst Annabel Riggs joins Anthony Doyle and tells us what she thinks really matters for Ryan’s earnings outlook, what the market is missing, and what the bu...

United Rentals is an American-based equipment rental company that leases heavy machinery such as forklifts, diggers, and aerial platforms. Over the years United Rentals has consistently gained market share, thanks to its scale and superior business model. Impressively, the company has outperformed the market by over 15% per year for the last 15 years. In this episode, global Portfolio Manager Osca...