Merewether Capital

[Merewether Capital @MerewetherCap]

The Fund remains open for investment, if you are interested in investing your capital alongside ours please reach out.

If you would like to receive Fund updates and other correspondence directly, please sign up on the website: https://t.co/WVlYq0G8x5

[Merewether Capital @MerewetherCap]

The Merewether Capital Inception Fund returned 5.7% in September as the post "Liberation Day" bull market continues.

https://t.co/6xTCE5h8cm

[Merewether Capital @MerewetherCap]

The importance of valuation discipline is rising and in that context we took some profits in positions where we have fortunately benefited from rising valuations and are cautiously redeploying into positions that still remain cheap.

[Merewether Capital @MerewetherCap]

As a reminder the Fund is approaching it's next quarterly intake window at the end of September, if you are interested in investing your capital alongside ours please reach out.

[Merewether Capital @MerewetherCap]

The Merewether Capital Inception Fund returned 8.1% in August as global markets continued their bull runs, led by the ASX200 despite a lacklustre reporting season for large caps.

https://t.co/SVYCOsh3j4

[Merewether Capital @MerewetherCap]

We were more active than usual in August as reporting season provides the clearest signals on how our investment theses are tracking. We added to some holdings and initiated a new position xReality Group ($XRG.AX). Check out the report for more commentary on Fund movements.

[Merewether Capital @MerewetherCap]

As a reminder the Fund is currently open for investment and we are actively raising capital in this positive environment for microcaps.

If you would like to receive Fund updates and other correspondence directly, please sign up on the website:
https://t.co/WVlYq0FAHx

[Merewether Capital @MerewetherCap]

The Merewether Capital Inception Fund returned 17.6% in July as global markets began FY26 on a strong note backed by trade certainty and tepid inflation data.

https://t.co/qgnPtAcJH7

[Merewether Capital @MerewetherCap]

We had several positive trading updates from Fund holdings, notably Austco Healthcare $AHC.AX, Change Financial $CCA.AX, CleanSpace Technology $CSX.AX and LaserBond $LBL.AX all of whose FY25 performances exceeded our expectations.

[Merewether Capital @MerewetherCap]

If you would like to receive Fund updates and other correspondence directly, please sign up on the website:

https://t.co/WVlYq0G8x5

[Merewether Capital @MerewetherCap]

The Merewether Capital Inception Fund returned -2.4% in June as the ASX finished the 2025 financial year strongly, dragged higher by buoyant global markets that continue to shrug off macroeconomic concerns.

https://t.co/2QHgb4naPz

[Merewether Capital @MerewetherCap]

We had positive updates from two Fund holdings; Motio who upgraded their FY25 earnings guidance for the fourth time and Kip McGrath Education who announced they would be exiting their loss-making US segment with the core Australian/UK operations continuing to perform well.

[Merewether Capital @MerewetherCap]

I've penned a blog post to better outline the @RandSRacing investment thesis, but in a sentence paying ~1.3x ARR and ~22x PBT for a fast growing, high margin, recurring revenue business is a very reasonable price. Blog post can be found below ⬇️

https://t.co/J0WyR5QdeB

[Merewether Capital @MerewetherCap]

The Merewether Capital Inception Fund returned -4.4% in February as the potential for a "tariff war" led to market participants questioning the impact on economic conditions, especially in the context of lofty equity valuations.

https://t.co/Z2dPYJu5Hi

[Merewether Capital @MerewetherCap]

While a market correction is never fun, they throw up new investment ideas and opportunities and late in the month we were able to build a material position in @RandSRacing, a provider of horse racing data and wagering services to bookmakers and racing authorities globally.