For November, the Wutherich & Co. Composite\u00a0was up 1.5%.<\/p>\n
During the month, we received cash and shares in Sunoco Corp LLC (SUNC-N) for our Parkland Corp. (PKI-T) position. SUNC in turn owns shares in Sunoco LP (SUN-N), one of the world\u2019s largest fuel distribution companies. We used some of our cash position to initiate a holding in an old name of ours, Sangoma Technologies (STC-T). As a reminder, STC provides communications solutions to small and mid-sized businesses throughout North America. The company has spent the last two years restructuring itself. We believe it is now in a good position to re-establish long-term growth.<\/p>\n
Most of our companies have reported their most recent quarters in the last few weeks and, for the most part, results were good. In a few cases, despite good results, their outlooks for the near term were weaker given a shaky macro-economic backdrop. Some share prices reacted violently to this softer outlook. We are happy to look past this short-term weakness and hold these stocks for the long-term.<\/p>\n
Finally, we would like to invite you to our Annual Update on January 20.2026 via Zoom. Please contact Jean-Francis Archambault at jf@wutherich.ca<\/a> for a link to the meeting.<\/p>\n