The Squatting Investment Company Ltd was registered in Victoria on 14 April 1882. They carried on the business of stock and station holders and graziers, purchasing their first stations in 1883. These were Thurulgoona and Bundaleer Stations, located in south-western Queensland.

In 1928 the company acquired NSW stations of Quantambone and Bundabulla. Other major stations purchased included Bedford Park and Tondeburine, near Gulargambone NSW, in 1940; Teryawynia Station near Menindie NSW in 1948; Mundana Park in western Victoria in 1950; Mortat Station in the Wimmera District of Victoria in 1952; Burrongong Station in the Eastern Riverina in 1953; Callandoon Station, in Goondiwindi in 1955 and Mount Manara in western NSW in 1964.

In 1965 a merger was affected with the Western Queensland Pastoral Company Ltd and the company acquired Burenda, Carandotta, Kynuna, Tarbrax and Westerton stations. From 1966 the company's activities moved into cattle and it acquired a 16% share of the Stanbroke Pastoral Company Pty Ltd who had substantial cattle holdings in Queensland.

By 1973 the company had reduced its holdings to two properties in Queensland and one in NSW. In August Goldsbrough Mort & Co Ltd (a subsidiary of Elder Smith Goldsbrough Mort & Co Ltd) made a successful takeover bid for the Squatting Investment Company Ltd.