Pender
Pender Small Cap
Small-cap
Mar 2025 → Mar 2025
Our archive holds 1 letter from this strategy and positions in 8 companies. Every quote below is copied verbatim from the letter it came from.
1 letter in a year · follow all of Pender for every strategy.
What it bought and sold
We decided to exit our position in Vecima due to its sizable customer concentration tied to Tier 1 Multiple System Operators (MSO) whose spending is highly unpredictable.