16 Jul 2026Eley Griffiths GroupQORExitEley Griffiths Group exited its position in Qoria after the company received a takeover bid at a 100% premium to last trade from US group Aura Consolidated in early February. Griffiths notes the merged entity would be roughly two-thirds Aura and one-third Qoria, which he believes dilutes the defensive and unique qualities that originally attracted the investment. The manager states he was confident in his initial analysis of Qoria but had not anticipated the software sector rout, and progressively sold down the position after the takeover bid, being off the register entirely by early March, on the view that a wise investor folds once the original investment thesis shifts.
5 Jan 2026Eley Griffiths GroupQORHeldThe fund manager continues to hold Qoria (formerly Family Zone) because the small-cap business develops parental control software for internet access, essentially making the internet safe for kids. The manager notes 60% of the business is centred on US activity and growing there, with Qoria moving from 12% to 17% market share and privately targeting 30-40% market share through new product releases and greater penetration, ranking among the top four players in the US. The manager highlights the business has been cashflow negative for a while, but believes 2026 is the year that inflects to cashflow neutral and ultimately cashflow positive. While the balance sheet is not pristine, the manager believes it is not too bad and the business is very well managed by Tim Levy, growing into a strong macro and growing market share, which is extraordinarily advantageous for a group transitioning to cashflow positive.
Eley Griffiths Group is a Melbourne-based boutique fund manager specializing in Australian small and micro-cap equities, co-founded by Ben Griffiths and Mark Williams. The firm applies rigorous, bottom-up fundamental research to identify quality small-cap businesses with strong management and growth potential, differentiating between micro-cap and broader small-cap strategies through dedicated, size-specific mandates. Eley Griffiths is known for direct, hands-on company engagement and a disciplined, repeatable process built over many years focused exclusively on the smaller end of the Australian market. The firm serves wholesale, adviser and institutional investors seeking specialist small-cap exposure managed by an experienced, dedicated team.
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.
16 Jul 2026Eley Griffiths GroupQORExitEley Griffiths Group exited its position in Qoria after the company received a takeover bid at a 100% premium to last trade from US group Aura Consolidated in early February. Griffiths notes the merged entity would be roughly two-thirds Aura and one-third Qoria, which he believes dilutes the defensive and unique qualities that originally attracted the investment. The manager states he was confident in his initial analysis of Qoria but had not anticipated the software sector rout, and progressively sold down the position after the takeover bid, being off the register entirely by early March, on the view that a wise investor folds once the original investment thesis shifts.
5 Jan 2026Eley Griffiths GroupQORHeldThe fund manager continues to hold Qoria (formerly Family Zone) because the small-cap business develops parental control software for internet access, essentially making the internet safe for kids. The manager notes 60% of the business is centred on US activity and growing there, with Qoria moving from 12% to 17% market share and privately targeting 30-40% market share through new product releases and greater penetration, ranking among the top four players in the US. The manager highlights the business has been cashflow negative for a while, but believes 2026 is the year that inflects to cashflow neutral and ultimately cashflow positive. While the balance sheet is not pristine, the manager believes it is not too bad and the business is very well managed by Tim Levy, growing into a strong macro and growing market share, which is extraordinarily advantageous for a group transitioning to cashflow positive.
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