Spheria Asset Management
Spheria Global Smaller Companies Fund
Aug 2026 → Oct 2026
Our archive holds 2 letters from this strategy, behind 3 investment theses and positions in 5 companies. Every quote below is copied verbatim from the letter it came from.
2 letters in a year · follow all of Spheria Asset Management for every strategy.
Performance
as of Oct 31, 2026 · net of fees · AUD
- 1Y0.0%index +7.7%
- 3Y · /yr+9.8%index +16.4%
- 5Y · /yr+3.1%index +7.7%
- Inception · /yr+9.7%index +9.7%
Index: MSCI World Small Cap Index (net in AUD)
| 1Y | 3Yper year | 5Yper year | Since inceptionper year | |
|---|---|---|---|---|
| Spheria Global Smaller Companies Fund | 0.0% | +9.8% | +3.1% | +9.7% |
| MSCI World Small Cap Index (net in AUD) | +7.7% | +16.4% | +7.7% | +9.7% |
Disclaimer
These figures are copied from the manager’s latest letter, as of Oct 31, 2026. They were extracted automatically, have not been verified by HF Best Ideas and may contain errors. They cover a single share class, in the currency and fee basis stated above; other share classes and your own returns will differ. This is not investment advice, nor an offer to buy or sell any fund. Past performance does not predict future returns.
Read full disclosures →What it bought and sold
We first bought shares in July 2026, after the stock had already had a significant derate from its peak last year.
Despite this, the extent of the share price outperformance had made the position too large for the Fund, so we trimmed it.
Also held
Its investment theses
- SharkNinja, Inc.Oct 2026SharkNinja is a home appliance designer whose innovation and category diversification drive market share gains and support a premium multiple.
- Sprouts Farmers Market, Inc.Oct 2026Sprouts 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.
- Paycom SoftwareAug 2026Paycom Software is a cloud HCM platform with high margins, strong ROIC, founder-led management and a durable competitive advantage trading at an undemanding valuation.