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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q3 | Sep 30, 2025 | Langdon Canadian Smaller Companies Portfolio | 7.1% | 13.2% | GCGA CN, GRGD CN, TVK CN | AssetManagement, CashFlow, gold, retail, SmallCaps | Gold: A dominant market narrative driven by gold equities is described as stretched, reinforcing the managers avoidance of narrative-driven commodities in favour of fundamentals. Compounding: The letter highlights businesses like Groupe Dynamite and Guardian Capital as examples of patient compounding where free-cash-flow growthnot macro callsdrives multi-year value realization. SmallCaps: The manager emphasizes under-researched Canadian small caps where intrinsic value realization occurs suddenly, underscoring their discipline of owning founder-led, cash-generative companies. :contentReference[oaicite:1]{index=1} | View | |
| 2025 Q2 | Jul 1, 2025 | Langdon Canadian Smaller Companies Portfolio | 13.9% | 5.7% | ATS CN, DFY CN, EQB CN, GRGD CN | Automation, Canada, insurance, Logistics, SmallCaps | Canadian small caps rebounded sharply as businesses demonstrated pricing power, margin resilience, and management depth despite tariff disruptions. Several holdings showed structural advantagessuch as scale in insurance, automation, and logisticssupporting long-run growth and consolidation. Small caps remain attractive for disciplined investors seeking mispriced, founder-led companies with asymmetric upside. | View | |
| 2025 Q3 | Oct 10, 2025 | Ennismore Global Equity Fund | 0.9% | 8.4% | CRDA LN, CSU CN, GRGD CN, WISE LN | commodities, cyclicals, Mean reversion, Shorting, valuation | Ennismore stresses that elevated equity valuations and crowded long positions create asymmetric short opportunities. The fund focuses on companies over-earning due to temporary commodity tailwinds and identifies potential mean-reversion setups across cyclicals. | WISE LN |
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| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| No pitches found. | |||||||||
| 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. | ||||||||