Pender
Pender US Small Mid Cap Equity Fund
US Mid-cap
Jun 2025 → Jul 2026
Our archive holds 6 letters from this strategy, behind 5 investment theses and positions in 11 companies. Every quote below is copied verbatim from the letter it came from.
6 letters in 2 years — follow all of Pender for every strategy.
Also held
Its investment theses
- AmazonJul 2026Amazon benefits from accelerating AWS growth, strong AI demand and long-lived data center economics that support future earnings compounding.
- Space Exploration Technology CorpJul 2026Space Exploration Technology Corp is scaling AI compute capacity rapidly, with management citing sub-one-year payback and improving economics on new agreements.
- International Flavors and FragrancesAug 2025International Flavors and Fragrances is repositioning for stronger growth and margin expansion through divestitures, R&D investment, and disciplined capital allocation, presenting a compelling value opportunity ahead of expected improvements in innovation and returns on capital.
- Deckers Outdoor CorporationJun 2025Deckers is a strong capital return company with potential for growth despite short-term challenges, trading at an attractive valuation.
- Modine ManufacturingJun 2025Modine Manufacturing is a thermal management systems provider focusing on high-growth data center cooling and indoor air quality, demonstrating strong execution and shareholder value creation under CEO Neil Brinker.