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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q2 | Jul 1, 2025 | Langdon Canadian Smaller Companies | 13.9% | 5.7% | AND.TO, ATS.TO, ATZ.TO, DFY.TO, EQB.TO | Canada, insurance, Quality, Resilience, small caps, value | Portfolio companies demonstrated resilience by overcoming tariff-related challenges and external shocks. Groupe Dynamite and Aritzia proved tariffs were manageable obstacles, delivering strong growth with margin expansion despite operational headwinds. | EQB.TO ATS.TO DFY.TO ATZ.TO DYN.TO |
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| 2025 Q2 | Jul 1, 2025 | Langdon Global Smaller Companies | 10.5% | 10.5% | AGYS, AND.TO, FEVR.L, JLG.AX, TOI.TO | global, healthcare, industrials, Quality, small caps, technology, value | The manager sees attractive opportunities in industrial software and highlights Agilysys as benefiting from structural modernization trends in hospitality. Their software platform is becoming mission-critical for hotels and casinos upgrading property management systems, with the company still in early innings of capturing wallet share globally. | FEVR.L CHA.DE TOI.TO ATG.L AHG.TO AGYS JLG.AX |
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| 2025 Q1 | May 12, 2025 | Langdon Canadian Smaller Companies | -7.2% | - | AND.TO, ATS.TO, ATZ.TO, BYD.TO, DND.TO, EQB.TO, GCG.TO, GRGD.TO, RCH.TO, SVI.TO, SYZ.TO, TVK.TO | Acquisition, Canada, healthcare, Logistics, small caps, Trade Policy, value | Andlauer Healthcare Group represents a critical logistics provider transporting 85% of pharmaceutical products used in Canada and serving 35% of the Canadian healthcare industry. The company demonstrates best-in-class operating ratios, sticky customer base, and defensible market position with value-add logistics driving outsized margins. UPS acquired Andlauer at a 30% premium, validating the investment thesis. | AND.TO |
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| 2025 Q1 | May 12, 2025 | Langdon Global Smaller Companies | 0.0% | - | 4658.T, AND.TO, DAL.L, ENX.PA, FEVR.L, JLG.AX, RBREW.CO, SKWD, WOSG.L, YETI | consumer, global, private markets, small caps, tariffs, value, volatility | Manager emphasizes the small cap universe is 10x the size of large caps, providing abundant opportunity. Despite weak IPO activity over the past three years, approximately 1,750 companies have still come to market. The fund maintains focus on building a collection of durable, value-creating businesses that can deliver strong absolute returns across market environments. | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Apr 13, 2026 | Fund Letters | Langdon Canadian Smaller Companies | Andlauer Healthcare Group | Industrials | Ground Transportation | Bull | TSX | acquisition target, Canada, defensive business model, Healthcare Logistics, Management Quality, Pharmaceutical Transportation, Sticky Customers, Transportation, Value-Add Logistics | View Pitch |
| Manager Name | Fund Name | Fund AUM | Invested Value | Portfolio Weight | Shares Owned | Shares Bought / Sold During Quarter | % Bought / Sold During Quarter | % of Shares Outstanding Owned |
|---|---|---|---|---|---|---|---|---|
| No investor data available. | ||||||||