What we define as 'specs' is subjective and can be incorrect....

What we define as 'specs' is subjective and can be incorrect. Like you, I have low exposure to what I consider 'speccies'. When purchasing a small amount, I hadn't considered QIP to be a 'spec'. Perhaps it is.

I omitted above how QIP's net debt rose by 33 per cent in FY 2022 with finance costs increasing by 47.4 per cent.

This may not be of concern if acquisitions and other changes are suitably accretive, but given upwards movements in interest rates, it's one to keep a weather eye on.