Pender
Pender Strategic Growth and Income Fund
Income
Mar 2025 → Jun 2025
Our archive holds 3 letters from this strategy, behind 3 investment theses and positions in 4 companies. Every quote below is copied verbatim from the letter it came from.
3 letters in a year · follow all of Pender for every strategy.
What it bought and sold
After the post-“Liberation Day” sell-off in the spring, we initiated positions in three high- conviction core holdings at compelling valuations: Danaher Corporation (DHR) –
Its investment theses
- Applied MaterialsJun 2025Applied Materials Inc. is an undervalued leader in materials-engineering solutions for semiconductors, with strong long-term earnings potential driven by AI, advanced packaging, and a growing services segment despite current market concerns.
- Fevertree DrinksMar 2025Fevertree is well-positioned for growth due to a game-changing US distribution partnership with Molson Coors, despite facing short-term earnings volatility.
- Lithia MotorsMar 2025Lithia Motors is a leading North American automotive retailer leveraging dealership acquisitions and a digital platform for long-term growth in a fragmented industry.