Yahoo Finance | Workiva (WK) Holds Top Investment Position in Lakehouse Global Growth Fund

Workiva (WK) Holds Top Investment Position in Lakehouse Global Growth Fund

Lakehouse Capital, a Sydney-based investment manager, published its “Lakehouse Global Growth Fund” investor letter for November 2025. The month was characterized by significant volatility in the global equity market, along with persistent enthusiasm for Generative AI. Over the past year, the prevailing “risk-on” market sentiment has led to a decline in the Fund’s quality-growth style of investing. Although the portfolio's market value has decreased over the last year, the underlying growth fundamentals remain strong. For the month, the Fund posted a return of -7.5% after fees and expenses, while its benchmark, the MSCI All Country World Index Net Total Returns (AUD), returned -0.2%. Since its inception in December 2017, the Fund returned 208.5%, surpassing its benchmark's 163.8%.

In its fourth-quarter 2025 investor letter, Lakehouse Global Growth Fund highlighted Workiva Inc. (NYSE:WK) as a top five position, citing its role as the global standard for complex corporate reporting. Workiva provides cloud-based solutions for financial reporting, compliance, and risk management, serving 95% of the Fortune 100 and 89% of the Fortune 500. The company’s product is highly sticky, with a 97% gross retention rate and 114% net revenue retention. Despite only 2.5% penetration of the $35 billion total addressable market, growth potential remains strong due to rising global demand for transparent, audit-ready reporting standards. Management is improving go-to-market strategy, refining pricing, and expanding partner relationships to drive multi-product adoption, validated by a 42% increase in customers with over $500k ACV. Workiva is successfully cross-selling from its finance base, and with operating margins guided to double to 18% over two years, the current 5.1x forward EV/Revenue valuation is seen as attractive.

Read more: https://finance.yahoo.com/markets/stocks/articles/workiva-wk-holds-top-investment-130945926.html

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