Our investment process sets us apart from the crowd. We apply disciplined fundamental, bottom-up analysis in order to build portfolios of exceptional microcap and small cap businesses in Australia and across the globe.
As a growing army of investors treat the microcap and small cap universe as a casino, we believe the opportunities for investors who apply disciplined fundamental analysis will continue to proliferate. Often the greatest investments are hiding in plain sight and Spheria’s tried-and-tested investment process – which places cash flow at its core – has a track record of uncovering great businesses long before the crowd takes notice. Importantly, it also helps deliver downside protection during times of turbulence.”
A selection of
ASX-listed
companies currently
in our portfolios
A2 Milk Company
A2 Milk Company (ASX:A2M) is a premium branded nutritional company uniquely focused on products containing the A2 beta-casein protein type.
Adbri Ltd
Adbri (ASX:ABC) is one of Australia’s first cement producers, established in 1882. Adbri has 160 plants and facilities across the nation.
Bega Cheese Ltd
Bega Cheese (ASX:BGA) is a diversified food company and one of Australia’s largest companies in the dairy sector.
Breville Group Ltd
Breville (ASX:BRG) is a household name in Australia, founded in 1932, and known for its home appliances.
Deterra Royalties
Deterra Royalties Limited (ASX:DRR) manages royalty assets across a range of commodities including mining areas in Western Australia.
Iress
Iress (ASX: IRE) is a global software firm specialising in software provision for the financial services industry.
Mader
Mader (ASX:MAD) is a leading contracting company specialising in mobile and fixed plant equipment maintenance, headquartered in Perth.
Michael Hill
Michael Hill International Ltd (ASX:MHJ) is a speciality retailer of jewellery operating over 300 stores in Australia, New Zealand and Canada.
NZME
New Zealand Media and Entertainment (ASX:NZM) is an integrated media company, with a portfolio of market-leading newspapers, radio stations and digital platforms.
REA Group
REA Group (ASX:REA) is a leading global digital business, specialising in property with operations in Australia, Asia and North America.
Supply Network Ltd
Supply Network Ltd (ASX:SNL) provides replacement parts for road transport equipment in Australia and New Zealand.
TechnologyOne Ltd
TechnologyOne (ASX:TNE) is a Software as a Service (Saas) provider delivering Enterprise Resource Planning solutions for businesses and government bodies.
Universal Store Holdings
Universal Store (ASX:UNI) is a leading retailer with stores in key locations across Australia and online.
A selection of
ASX-listed
companies currently
in our portfolios
A2 Milk Company
A2 Milk Company (ASX:A2M) is a premium branded nutritional company uniquely focused on products containing the A2 beta-casein protein type.
NZME
New Zealand Media and Entertainment (ASX:NZM) is an integrated media company, with a portfolio of market-leading newspapers, radio stations and digital platforms.
REA Group
REA Group (ASX:REA) is a leading global digital business, specialising in property with operations in Australia, Asia and North America.
Blackmores Ltd
Blackmores (ASX:BKL) is Australia’s leading natural health company, with expertise in vitamins, minerals, herbs and nutrients.
TechnologyOne Ltd
TechnologyOne (ASX:TNE) is a Software as a Service (Saas) provider delivering Enterprise Resource Planning solutions for businesses and government bodies.
Breville Group Ltd
Breville (ASX:BRG) is a household name in Australia, founded in 1932, and known for its home appliances.
Deterra Royalties
Deterra Royalties Limited (ASX:DRR) manages royalty assets across a range of commodities including mining areas in Western Australia.
Flight Centre Travel Group Ltd
Flight Centre (ASX:FLT) is one of the world’s largest travel retailers and corporate travel managers.
Bega Cheese Ltd
Bega Cheese (ASX:BGA) is a diversified food company and one of Australia’s largest companies in the dairy sector.
Adbri Ltd
Adbri (ASX:ABC) is one of Australia’s first cement producers, established in 1882. Adbri has 160 plants and facilities across the nation.
Seven West Media Ltd
Seven West Media (ASX:SWM) is one of Australia’s most prominent media organisations with operations across broadcast television, newspapers and digital media.
Michael Hill
Michael Hill International Ltd (ASX:MHJ) is a speciality retailer of jewellery operating over 300 stores in Australia, New Zealand and Canada.
Universal Store Holdings
Universal Store (ASX:UNI) is a leading retailer with stores in key locations across Australia and online.
A selection of global companies currently in our portfolio
AB Dynamics
AB Dynamics (ABDP.LSE) is a UK-based vehicle engineering consultancy and has grown steadily to become one of the world’s most trusted suppliers of automotive test systems.
Hemnet
Hemnet (HEM.STO) is the biggest property portal in Sweden, founded in 1998.
Mips
Mips (MIPS.STO) is a Swedish-based company that specialises in helmet-based safety and is a world-leader in this area.
Labrador Iron Ore Royalty Corporation
Labrador Iron Ore Royalty Corporation (LIF.TSX) provides investors exposure to the Iron Ore Company of Canada, a leading North American producer and exporter of premium iron ore pellets and high-grade concentrate.
Go Pro
Go Pro (GPRO.NAS) is an American technology company, manufacturing action cameras and its own mobile apps and video-editing software.
Fielmann AG
Fielmann AG (FIE.GY) is a German-based provider of eyewear, contact lenses and hearing aids distributing via digital sales channels and over 900 retail stores.
Sonos
Sonos (SONO.NAS) is an American developer and manufacturer of audio products best known for its multi-room audio products.
Bio Medical Laboratories Inc
Bio Medical Laboratories Inc (4694 JT) is one of Japan’s largest service, information and laboratory analysis network.
OTC Markets Group
OTC Markets Group (OTCM.US) is an American financial market providing price and liquidity information for almost 10,000 over-the-counter securities.
A selection of global companies currently in our portfolio
Thule
Thule (STO:THULE) is a global market leader in products for active families and outdoor enthusiasts, headquartered in Sweden.
Accelleron
Accelleron (SWX:Â ACLN) produce turbochargers to make marine, energy and rail related engines more powerful and efficient, while also reducing emissions.
Bio Medical Laboratories Inc
Bio Medical Laboratories Inc (4694 JT) is one of Japan’s largest service, information and laboratory analysis network.
Hemnet
Hemnet (HEM.STO) is the biggest property portal in Sweden, founded in 1998.
Intertek Group plc
Intertek Group plc (LON:ITKR) provides quality assurance solutions to various industries in the United Kingdom, the United States, China, Australia, and internationally. It operates in three segments being, Products, Trade, and Resources.
Labrador Iron Ore Royalty Corporation
Labrador Iron Ore Royalty Corporation (LIF.TSX) provides investors exposure to the Iron Ore Company of Canada, a leading North American producer and exporter of premium iron ore pellets and high-grade concentrate.
NAPCO
NAPCO (NASDAQ:NSSC) is a provider of advanced technology security solutions for both residential and commercial premises.
Sapiens
Sapiens International Corporation N.V. (NASDAQ:SPNS) is a global leader in core software solutions in the insurance industry.
Why invest with us?
Investing with an active fund manager that specialises in microcap and small cap stocks can deliver a significant edge. Many microcap and small cap stocks have no analyst coverage. Providing an extraordinary window of opportunity for managers looking where others aren’t. At the same time, Spheria’s focus on identifying risk and maintaining a portfolio of businesses not reliant on capital markets to fund through-the-cycle can help shield clients from the exuberance that often makes its way into the sector.
We provide:
A consistent and disciplined investment process with an emphasis on risk management.
Exposure to small and microcap portfolios consisting of robust businesses with strong through-the-cycle cash flow.
A stable investment team with decades of experience investing in small and microcap companies.
Spheria Funds
Latest News and Insights
How a focus on free cash flow helps guide Spheria's small caps investing.
A presentation on the opportunities in global small caps at the 2024 Pinnacle Insights Series
Marcus Burns shares small cap investing insights in this 3-minute video.
