Caledonia (Private) Investments Pty Ltd, that gluttonous goblin of the investment world, has taken a massive bite out of Coursera’s pie, gobbling up 1,935,803 shares and splashing $44.43 million in the process, according to the SEC’s dreary ledgers from Nov. 14, 2025.
What happened
In the third quarter, Caledonia-armed with a ledger thicker than a toad’s wallet-hoarded 1,935,803 additional shares of Coursera (COUR +0.48%). By quarter’s end, it held 9,313,631 shares, a treasure trove valued at $109.06 million. The previous quarter? A measly $64.63 million. One might call it a feast, though the menu remains suspiciously unappetizing.
What else to know
Coursera now constitutes 1.8% of Caledonia’s 13F reportable AUM, a sliver in a cake where Zillow Group (Z 0.63%) and Flutter Entertainment (FLUT 1.06%) hog the frosting. Top holdings post-filing:
- Zillow Group (Z 0.63%): $2 billion (33.3% of AUM)-a real-estate ogre with a penchant for overpriced dreams.
- Flutter Entertainment (FLUT 1.06%): $1.8 billion (28.6% of AUM)-a betting den where fortunes vanish faster than a snowman in July.
- Zillow Group, Class A (ZG 0.52%): $864 million (14.0% of AUM)-the same ogre, now with a fancier hat.
- Cameco (CCJ 2.23%): $463 million (7.5% of AUM)-a uranium peddler with a radioactive grin.
- Royalty Pharma (RPRX +0.84%): $266 million (4.3% of AUM)-a pill-pusher masquerading as a healer.
As of Dec. 4, 2025, Coursera’s shares traded at $8.41, a price so stagnant it could double as a museum exhibit. The stock, flat over the prior year, trails the S&P 500 by 13 percentage points-a snail racing a cheetah.
Coursera’s 5-year revenue CAGR? A sprightly 30%, though one wonders if that’s before or after subtracting the cost of its AI-induced migraines.
Company Overview
| Metric | Value |
|---|---|
| Market Capitalization | $1.4 billion |
| Revenue (TTM) | $739.78 million |
| Net Income (TTM) | ($45.81 million) |
| Price (as of market close 2025-12-4) | $8.41 |
Company Snapshot
Coursera:
- A digital Aladdin’s cave of courses, degrees, and certificates, though one suspects the genies are all on strike.
- Serves learners, schools, and corporations-though it’s unclear if anyone is actually learning, schooling, or corporating.
- Partners with universities and “industry leaders” to peddle credentials. A noble endeavor, if those leaders weren’t so busy counting coins.
Coursera, Inc., operates a platform where learners, educators, and institutions rub elbows. Its “broad catalog” and “institutional relationships” are as reassuring as a bridge-builder touting his own span.
Foolish take
Caledonia’s Coursera binge is a curious spectacle. It’s as if a glutton for punishment decided to feast on pickled herring while the kitchen catches fire.
First, the purchase defies the obvious: AI will not be kind to online learning. Coursera’s revenue growth has slowed from a 30% CAGR to a 10% waddle. One imagines AI as a gremlin in the system, either devouring enrollments or-miraculously-serving them up on a platter. The jury’s still out, but the gremlin’s grin is ominous.
Second, Caledonia bought shares near Coursera’s 52-week high. The stock has since plummeted like a leaden soufflé. Is this a bargain? Perhaps. But bargains in this market often come with hidden fees, like a lifetime subscription to Regret TV.
The SEC’s way of making institutional investors spill their secrets, one yawn-inducing form at a time.
Assets under management (AUM):
The total value of investments managed by a fund. Often used to justify exorbitant fees.
Net position change:
The difference in shares held after a transaction. A number that rarely tells the whole story.
Quarter-end:
The day accountants everywhere sigh and pour another cup of coffee.
Trailing twelve months (TTM):
A way to dress up bad news with a bow of recent data.
CAGR:
A mathematical illusion that makes even stagnant growth look exciting.
Outperforming:
A word that means nothing until the market decides otherwise.
Fund holding:
A security owned by a fund. Often a trap for the unwary.
Position value:
The worth of an investment, until it isn’t.
Buy (executed a buy):
A euphemism for “we hope this works out.”
Credentialing solutions:
A fancy term for “we’ll charge you to prove you’re not useless.”
And so, dear reader, we are left to ponder: Is Coursera a golden goose or a goose with golden teeth? The answer, as always, lies in the fine print. 🤔
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2025-12-05 22:30