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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q2 | Jul 30, 2025 | Greystone Capital | 14.8% | 6.3% | APG, DR CN, KITS CN, NRP, SYZ CN | Compounding, Intrinsic Value, Patience, small caps, Valuations | The commentary focuses on small-cap equities as a long-term opportunity amid prolonged underperformance and depressed valuations. Management argues that quality small businesses continue to compound intrinsic value despite market neglect. Patience and focus are positioned as key advantages when small caps eventually regain investor attention. | DR CN KITS CN SYZ CN APG NRP |
View |
| 2023 Q2 | Jul 13, 2023 | Pender Small Cap Opportunities Fund | -1.1% | 1.8% | PAR, SYZ CN | - | View | ||
| 2025 Q3 | Oct 30, 2025 | Greystone Capital | -3.6% | 1.6% | IVFH, SYZ CN | fundamentals, Market Rotation, Quality, small caps, Value Investing | The manager attributed weak quarterly results to volatility in small-cap holdings like Sylogist and Innovative Food Holdings, noting that declines were driven by sentiment rather than fundamentals. The letter criticized market speculation in non-profitable small caps and overvalued quality megacaps, reiterating commitment to high-conviction, undervalued companies with strong cash generation. Management believes this disciplined, bottom-up approach positions the fund for long-term outperformance once speculative excess unwinds. | IVFH SYZLF CN IVFH SYZLF CN |
View |
| 2023 Q1 | Aug 5, 2023 | Greystone Capital | 8.0% | 16.0% | B4F GR, GFF, POL, SYZ CN | - | View | ||
| 2023 Q2 | Jul 30, 2023 | Greystone Capital | 8.0% | 16.0% | APG, B4F GR, CURN, LMB, RICK, SYZ CN | - | View | ||
| 2024 Q2 | Jul 26, 2024 | Greystone Capital | 8.0% | 16.0% | APG, BELFA, DR CN, LMB, SYZ CN | - | View | ||
| 2025 Q1 | Apr 4, 2025 | Hurdle Rate | -2.1% | -2.1% | BEG LN, COG AU, DSW LN, LIT LN, SYZ CN, UPG BB | - | View | ||
| 2024 Q4 | Jan 20, 2025 | Greystone Capital | 0.5% | 19.2% | BELFB, DESP, IVFH, LMB, NRP, SYZ CN | - | View | ||
| 2023 Q4 | Jan 2, 2024 | Greystone Capital | 8.0% | 16.0% | APG, BELFA, CURN, FC, LMB, SENEA, SYZ CN, THRY | - | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Dec 6, 2025 | Fund Letters | Adam Wilk | Sylogist Ltd. | Information Technology | Software - Application | Bull | NYSE | growth, Integration, Margins, Recurringrevenue, Software | 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. | ||||||||