• Big Opportunities in Small Cap

    Small Cap Investing at Pender

One of Pender’s core areas of expertise is investing in small cap companies. We have developed a circle of competence over more than twenty years of fundamental analysis and deep due diligence in small caps, which has contributed to a strong, long-term track record of performance.

Why Small Cap?

Small and mid-sized companies are more agile than their supersized brethren and often operate segments of the market where inefficiencies reside. Their relative dynamism compared to large- or mega-cap companies presents us with a range of outcomes to generate potential capital gains for our clients.

Pender’s Approach to Small Cap Investing

At Pender, we employ a private equity approach to public markets, using a deep due diligence, research-based process for identifying and investing in high quality small-to-mid cap companies, with the potential for significant capital appreciation.

Our Process in Practice: Funds

Pender Small Cap Opportunities Fund

An opportunistic, concentrated portfolio focused on undervalued small and microcap companies with strong underlying economics, predominantly in Canada.  

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Performance

Pender Small/Mid Cap Dividend Fund

This Fund aims to provide investors with a combination of long-term capital appreciation and a stable quarterly stream of cash distributions.

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Performance

Portfolio Team

David Barr

David Barr, CFA

CEO and Portfolio Manager

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Sharon Wang

Senior Equity Analyst

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Tracy Tidy, CFA

Equity Analyst

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Aman Budhwar, CFA

Portfolio Manager

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Webinars

Pender Small Cap Opportunities Fund – Small Cap Investing for the Long-Term

In August 2023, PenderFund hosted a webinar in which Portfolio Manager, David Barr, discussed the current positioning of the Pender Small Cap Opportunities Fund including where he is finding quality businesses at attractive valuations. 

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Resources

Watch Pender’s CEO and Portfolio Manager, David Barr, present ‘Finding Emerging Compounders’ to the Ivey Business School, at the Ben Graham Centre for Value Investing.

Our selection of Pender Small Cap Podcasts

Listen

Hub: Unlocking Value: Catalyst-Driven Investing

Explore

Investor Education: Pender’s Small Cap Ecosystem

Read

In The News

Is there ever a time when dividend investing doesn’t make sense?

November 24, 2023

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What’s the best way to pick good small-cap stocks for my investment portfolio?

September 29, 2023

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The upside of pessimism and why investors should give small caps a look

August 31, 2023

Read

Opportunities in unprofitable small-cap stocks: Three hot picks

February 7, 2023

Watch

We’re reaching an inflection point for Canadian small caps: David Barr

November 21, 2023

Watch

How mastering the art of scuttlebutt can generate alpha

September 20, 2023

Read

PenderFund Appoints Aman Budhwar as Co-Manager of the Pender Small/Mid Cap Dividend Fund

June 27, 2023
Read

Small but mighty: five reasons why small caps are set to outperform

March 28, 2023

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How can I tell whether a stock is a value buy or a value trap?

October 20, 2023

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Trick or treat? Bobbing for multi-baggers in the small cap market

September 26, 2023

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Power trip: Energy transition opens investing opportunities

September 17, 2023

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