We are pleased to share the NAOS Quarterly Investment Report for Q2 FY26, where we provide in-depth commentary on the current market and several core investments that had notable events during Q2.

The report provides detailed commentary on several notable portfolio developments, including Big River Industries' acquisition of John’s Building Supplies, continued progress and strategic partnerships at unlisted investment, Firmus Technologies, and updates across a number of core holdings.  We invite you to read the attached report for detailed insights into our investment strategy and portfolio developments.

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