U.S. GolfFeature / 04
Where Golf’s
Money Goes
Follow golf spending through course upgrades, equipment purchases and travel, then explore what company reports reveal about the businesses behind the game.
Independent golf business & equity research
The business
behind
the game.
You know the names on your equipment.
We’re here to understand the companies behind them—and the markets they play in.
Independent golf-business research. An index in development.
No live benchmark or investment product is offered.
01 Golf knowledge. Business curiosity.02 Japan and Korea belong in the story.03 Sources before certainty.
Research, from the first tee
Familiar brands.
A closer look.
Start with the brands and experiences you recognize. Follow the ownership, economics and evidence.
Inside screen golfFeature / 03 · South Korea
Golfzon and the business
behind screen golf.
A South Korean simulator company connects equipment sales, repeat play and the cost of overseas expansion.
Who owns your bag?Feature / 01
Who owns Titleist
and FootJoy?
Follow two familiar golf brands to Acushnet—and the ownership, revenue and evidence behind the name.
Who owns your bag?Feature / 02 · Japan
Who owns Srixon,
Cleveland and XXIO?
Three golf brands lead to a Japanese manufacturer—and a business that extends well beyond the course.
Index basicsExplainer / 01
An index is not
an account.
What a rules-based benchmark measures—and why it is not an investment account.
Research approachExplainer / 02
Golf relevance
needs evidence.
A meaningful golf business and an investable golf exposure are not automatically the same.
Four sourced features and two introductory explainers on the companies, spending and evidence behind the game. Explore U.S. Golf →
The game is global. So is the brief.
Look beyond
the familiar names.
Our proposed coverage puts Japan and South Korea alongside the United States—not in a footnote. We also examine relevant listings elsewhere, including Hong Kong.
Equipment. Apparel. Course operations. Simulation. The suppliers behind them. One industry, approached from more than one market.
Proposed coverage / Japan
Beyond the equipment.
Explore the relationships between golf brands, shaft suppliers, sporting-goods groups and course operators. Start with a company’s disclosures, not a familiar product name.
The question we would askHow much of the listed company’s business actually comes from golf?
Global Golf Equity Index / in development
A clearer way to
follow golf as a business.
We’re developing a rules-based benchmark for publicly traded companies with meaningful golf operations. The goal is transparent measurement—not a list of stocks to buy.
RESEARCH STAGE · NO LIVE INDEX LEVELRules before resultsThe paper pilot has adopted provisional rules.
Research, not a fundNo money is being raised here.
Paper research pilot · November 12, 2026
Our six-company, $1,000 hypothetical portfolio now has a documented baseline. Explore the allocations and rules →
What would qualify?
Both golf-focused businesses and diversified publicly traded companies with material golf operations are within our research scope. A recognizable brand alone is not enough: revenue evidence, ownership, public float and liquidity all matter. Final public-benchmark membership remains unapproved. Six companies qualified for a separate hypothetical paper pilot.
How would the index be weighted?
The design direction is modified market-cap weighting. The separate paper pilot uses documented golf-sales factors, model float estimates and a 25% issuer target cap. Its adopted provisional rules do not finalize the broader public benchmark’s methodology. Read the pilot rules →
When will performance be published?
The paper pilot was initialized November 12, 2026 and currently has only a starting observation, with no subsequent return history. A live public benchmark remains in development and has no announced inception date. View the dated baseline →
How does the publication relate to the index?
The publication explains companies, ownership and business economics. The index project develops a broader measurement framework, while a separate hypothetical paper pilot tests provisional rules. Editorial coverage alone does not establish membership in either model, and a company feature is not a recommendation to buy its shares.
A golfer’s perspective. A business question.
Understand the business.
Respect the uncertainty.
Tee & TickerIndependent golf-business publication
Tee & Ticker is an independent publication exploring the companies, ownership and economics behind golf.
The aim is to connect golf knowledge with source-led business research, make international companies easier to understand, and be clear about what is known—and what still needs work.
Read the founding note