Browse the world's most comprehensive database of hedge fund investor letters, sorted by recent quarter. Access primary source research from leading institutional managers.
Browse the world's most comprehensive archive of hedge fund manager letters. Access primary source research from leading institutional managers, sorted by reporting period.
Pender Small Cap delivered 4.3% Q2 returns driven by Copperleaf acquisition, outperforming TSX Composite's -0.5%. Fund maintains high conviction in quality Canadian small caps with D2L education software addition at significant discount to private valuations. Recent ETF flows favor small caps over large caps, suggesting performance divergence may reverse as headwinds turn to tailwinds.
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Pender Small Cap delivered 4.3% Q2 returns driven by Copperleaf acquisition, outperforming TSX Composite's -0.5%. Fund maintains high conviction in quality Canadian small caps with D2L education software addition at significant discount to private valuations. Recent ETF flows favor small caps over large caps, suggesting performance divergence may reverse as headwinds turn to tailwinds.
