Loading companies…

Catapult Sports Ltd ASX:CAT

SaaS Operating Leverage Enterprise SaaS Free Cash Flow

5 opened or increased11 held3 reduced or exitedlatest position by manager, past 12 months90 days: 1 increased, 0 reduced. 22 managers in total.

Position history by manager Showing 3 of 22 managersSelect a point to see the comment

Opened or increasedHeldReduced or exited Start or end of the position not reported

19 more managers have commented on CATPro shows the full position history for all 22 managers.

Upgrade to Pro

20252026

31 May 2024 to today

Commentary Showing 2 of 87

DateManagerActionSummary

30 Sep 2026Forager FundsIncreasedForager Funds increased its position in Catapult Sports, which is once again the fund's largest investment after being fully sold at elevated valuations in late 2025. Forager believes Catapult is dominant in wearables for professional sports teams and is expanding further into software. For elite clubs spending tens or hundreds of millions of dollars on player salaries, Catapult's products cost very little relative to the value of fewer injuries, better performance and sharper tactical analysis. Forager highlights extremely low churn, rapidly growing free cash flow and recent acquisitions that broaden the product suite offered to customers.

Quarterly Report, price recorded $3.16

The source document link is a Pro feature

11 Sep 2026Forager FundsInitiatedForager Funds initiated a position in Catapult Sports because the wearable technology and sports analytics company's data is deeply embedded with professional sporting clients, creating a defensible competitive position. Forager had previously sold Catapult Sports shares in 2025 on valuation grounds, then re-established the holding at significantly lower prices during the broader AI-driven software sector sell-off. The fund manager notes that Catapult's May trading update, which showed strong revenue growth alongside positive cash generation, validated the decision to re-enter the stock. Forager Funds indicates that by the end of July, Catapult Sports had become the largest holding in its Australian Fund, reflecting strong conviction in the sports analytics and wearable data thesis.

Article, price recorded $2.96

The source document link is a Pro feature

85 more comments on CATPro shows every comment, with a link to each source document.

Upgrade to Pro

First mention by manager

Price recorded at each manager's first comment

Price at first mentionThe share price recorded when each of 22 managers first commented on CAT.

View Pro

Articles

About Catapult Sports Ltd

Information Technology, Software

Catapult Sports (ASX:CAT), the sports wearables and analytics company, has been caught in the software sell-off, which several fund managers see as an opportunity. In September 2026, Forager Funds said it had sold Catapult in 2025 on valuation, then bought back in at much lower prices during the AI-driven software rout, arguing its wearable and analytics data are deeply embedded with professional teams. Seneca noted the underlying business continues to perform well despite the shares falling from $7.00 to under $3.00, and First Sentier highlighted its integrated analysis across wearables and player tracking. Catapult Sports operates in the Information Technology sector within the Software industry, and Thesis Tracker has captured 85 comments from 22 fund managers, including Forager, Seneca and First Sentier. Founded in 2006 and headquartered in Melbourne, Catapult provides wearable tracking devices, video analysis and performance software to elite sporting teams worldwide.

Market cap: $954m
Price to earnings: Loss-making
Return on equity: -16.3%
Dividend yield: 0.0%
Price to book: 3.38x
Net margin: -17.0%
52-week range: $2.74 to $7.50

Company figures as of 15 Oct 2026. For information only.

Questions

Who is investing in Catapult Sports Ltd (ASX:CAT)?

Fund managers including Monash Investors, Forager Funds, Ausbil Investment Management, Oracle Advisory Group, SG Hiscock & Company, Wilson Asset Management, Ellerston Capital, Lakehouse Capital, Pendal Group, Seneca Financial Solutions, Cromwell Funds Management, QVG Capital, Hyperion Asset Management, Selector Funds Management, Elston Asset Management, Blackwattle Investment Partners, LSN Capital Partners, Hayborough Investment Partners, Pengana Capital Group, First Sentier Investors, Quest Asset Partners and Endeavor Asset Management have invested in Catapult Sports Ltd (ASX:CAT).

What opportunities or catalysts do fund managers highlight for Catapult Sports Ltd?

Forager and Seneca highlight a business performing well with strong double-digit earnings growth, deeply embedded with professional clubs, and a share price that fell more than 50% on what they see as mistaken AI fears.

What are the key risks to the Catapult Sports Ltd investment thesis, according to fund managers?

Forager notes Catapult was hit by an indiscriminate software sell-off despite strong earnings, and its hardware-heavy model and valuation have made the stock volatile.

What does Catapult Sports Ltd (ASX:CAT) do?

Founded in 2006 by Shaun Holthouse and Igor van de Griendt, Catapult Sports Ltd. is a Melbourne-based technology company. It specializes in the development and supply of wearable athlete tracking and performance analytics solutions. The company provides data-driven insights to sports organizations globally, focusing on monitoring player performance and health through advanced tracking technology.

General information only. Thesis Tracker reports what named fund managers have published about ASX companies. It does not take into account your objectives, financial situation or needs, and is not financial product advice or a recommendation to buy, sell or hold any security.

11,356 comments from 164 managers on 761 companies, snapshot 15 Oct 2026.

Disclaimer Terms of Use Privacy Complaints Contact

Loading…