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.
The Pender Small Cap Opportunity Fund gained +5.7% in 2025, lagging large-cap indices but showing strong performance in core holdings linked to defense and energy transition. The managers are optimistic about the leveling out of small-cap underperformance and see a highly attractive opportunity set in undervalued, high-quality Canadian names heading into 2026.
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The Pender Small Cap Opportunity Fund gained +5.7% in 2025, lagging large-cap indices but showing strong performance in core holdings linked to defense and energy transition. The managers are optimistic about the leveling out of small-cap underperformance and see a highly attractive opportunity set in undervalued, high-quality Canadian names heading into 2026.
