Monthly Message

For August, the Wutherich & Co. Composite was up 2.6%.

Most of our companies have reported their most recent quarters and, with one exception, the results have been very strong. While tariffs and geopolitics are casting a shadow over everything, our companies are navigating this environment very well.

We have trimmed a few positions as valuations have increased or concerns about their growth have surfaced. Cash has increased as a result and we expect to get more once our Parkland (PKI-T) position gets liquidated (it’s being acquired by Sunoco LP). The existing portfolio has several names that are trading at excellent valuations and can easily absorb more cash. We have also spotted one or two new names that we feel we can add to the portfolio. Historically, September is the weakest month for stocks. Perhaps this will help us buy our favourite names at even better prices. Stay tuned for new additions to the portfolio in the coming months.

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