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Spheria Asset Management

Mar 2025 → Oct 2026 · Publishes quarterly · 7 funds

Our archive holds 20 letters from Spheria Asset Management, behind 10 investment theses and positions in 60 companies. Every quote below is copied verbatim from the letter it came from.

Writes about

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20
Letters
60
Companies
4
Moves
10
Theses

7 strategies

Spheria Asset Management publishes a letter per strategy. Each one has its own page with what it holds, what it bought and what it wrote.

Returns as reported in each strategy’s latest letter, extracted automatically and not verified by us; one share class, in its own currency. Not investment advice. Past performance does not predict future returns.

What they bought and sold · 4 moves

Companies held · 60

Every company Spheria Asset Management has disclosed a position in across our archive, with the letter that last mentioned it.

Theses · 10

  • SharkNinja, Inc.
    October 2026

    SharkNinja is a home appliance designer whose innovation and category diversification drive market share gains and support a premium multiple.

    Read the full thesis
  • Sprouts Farmers Market, Inc.
    October 2026

    Sprouts Farmers Market is a specialty grocer with a differentiated offer and store rollout funded by cash flow, trading at 11x EBIT against the manager's valuation.

    Read the full thesis
  • Paycom Software
    August 2026

    Paycom Software is a cloud HCM platform with high margins, strong ROIC, founder-led management and a durable competitive advantage trading at an undemanding valuation.

    Read the full thesis
  • Universal Store Holdings Limited
    June 2026

    Universal Store is described as a quality retailer with strong sales growth, disciplined cost control, store rollout upside, a net cash balance sheet, and an attractive valuation.

    Read the full thesis
  • Lycopodium Limited
    June 2026

    Lycopodium Limited is a diversified mining contractor with a large work pipeline, net cash balance sheet, and a valuation that still screens cheap versus peers.

    Read the full thesis
  • Tyro Payments Limited
    June 2026

    Tyro Payments Limited is a payments technology business with structural growth in healthcare, net cash, and what the manager sees as an attractive valuation.

    Read the full thesis
  • Ferguson Enterprises
    June 2025

    Ferguson Enterprises is the market leader in U.S. wholesale distribution of plumbing, HVAC, and waterworks products, experiencing a positive turning point with increasing price inflation and strong volume growth, making its stock attractively valued at 17x FY26 EBIT.

    Read the full thesis
  • Hemnet Group
    June 2025

    Hemnet Group is a leading Swedish online real estate portal experiencing a temporary share price decline due to competitive concerns, but remains fundamentally strong with significant market presence and growth potential.

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  • Wise
    March 2025

    Wise is a disruptive global technology company revolutionizing money transfers and multi-currency accounts by leveraging advanced infrastructure to reduce costs and improve speed, capturing market share from traditional banks.

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  • Zuken
    March 2025

    Zuken is a leading global software player in electronic design automation with strong growth potential, dominant market share in Japan, and a favorable investment outlook despite trading at a low EBIT multiple.

    Read the full thesis

Letter archive · 20

2026

2025

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