Highlights DigitalBridge Group Inc. (DBRG) and Fluor Corporation (FLR) were top contributors while Fidelity National Financial Inc. (FNF) was a top detractor to performance. Initiated a new position in Modine Manufacturing Company (MOD) The S&P MidCap 400 Index posted total returns of 5.4% for the month of April 2025, underperforming its large cap peer, the […]
Highlights Verisign, Inc. (VRSN) and Dollar Tree, Inc. (DLTR) were top contributors while Tidewater Inc (TDW) was top detractor to performance. Initiated a new position in Addus HomeCare Corporation (ADUS). The S&P MidCap 400 Index posted total returns of -2.25% for the month of April 2025, underperforming its large cap peer, the S&P 500 Index […]
Highlights Molina Healthcare, Inc. (MOH) and Antero Resources Corporation (AR) were top contributors while DigitalBridge Group, Inc. (DBRG) was a top detractor to performance. Initiated new position in Mercury General Corporation (MCY) and The Cooper Companies, Inc. (COO). The S&P MidCap 400 Index posted total returns of -5.47% for the month of March 2025, outperforming […]
Highlights Brookfield Business Partners (NYSE: BBU) and Fidelity National Financial, Inc. (NYSE: FNF) were top contributors while Fluor Corporation (NYSE: FLR) was once again a detractor to performance. Initiated a new position in Euronet Worldwide, Inc. (NYSE: EEFT) and Monolithic Power Systems, Inc. (NYSE: MPWR). The S&P MidCap 400 Index posted total returns of -4.35% […]
Highlights Genpact Ltd. (NYSE: G) and Webster Financial Corporation (NYSE: WBS) were top contributors while Harmonic Inc. (Nasdaq: HLIT) and Fluor Corporation (NYSE: FLR) were detractors to performance. Initiated a new position in Tidewater, Inc. (NYSE: TDW). The S&P MidCap 400 Index posted total returns of 3.85% for January 2025, outperforming its large cap peer […]
Highlights Positive contributors to the Fund included Jabil Inc. (NYSE: JBL) and Antero Resources Corporation (NYSE: AR). Detractors to performance this month included Fluor Corporation (NYSE: FLR) and M/I Homes, Inc. (NYSE: MHO) . The Fund initiated a new position in Verisign Inc. (NYSE: VRSN) In a sign of things to come, the weeks since […]
We Are Live! This is a great time to be launching the Pender US Small/Mid Cap Equity Fund. The historical premium small- and mid-cap stocks traded at relative to large caps has turned into a discount following the strong run up in large caps over recent years. Given the outperformance of small- and mid-caps over […]
VANCOUVER, B.C., November 28, 2024 - PenderFund Capital Management Ltd. (“Pender”) is pleased to announce the launch of the Pender US Small/Mid Cap Equity Fund, designed to provide investors with access to the compelling investment opportunities in the US small- and mid-cap equity market. Managed by Aman Budhwar, CFA, the Fund seeks to invest in […]
Question: In a fast-changing world of high-tech and geopolitical challenges, can you explain what having a “moat” means today? How can a small investor know if a company has a sustainable competitive advantage? — Cassandra Answer: Sustainable value creation has two dimensions: the magnitude of returns in excess of the cost of capital, and how long […]
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