QBE (ASX:QBE) has been a long-term holding of the Australian Eagle Long portfolio, albeit one that has faced its share of missteps over the years. However, in recent periods, the business has undergone a clear and deliberate transformation under current management, with a renewed focus on profitability, discipline and simplification.

In response to Life360’s (ASX:360) March 2025 Quarterly update released on Monday 12 May, its share price has jumped 18 per cent from $23. 58 to $27. 85 in the past two trading days.

Last week, REA Group delivered a broadly in-line third quarter result, highlighting the resilience of its pricing power and disciplined cost management, even as listing volumes soften into the final quarter.

In this article for the Australian Financial Review, I shared some of my investment milestones throughout my 30-year career. I discussed the Australian Eagle Asset Management team’s strategy of identifying pivotal changes in businesses, highlighting successful investments in Fortescue (ASX:FMG) and Altium (ASX:ALU), as well as lessons learned from early exits like TechnologyOne (ASX:TNE).