Letters by company
Mcdermott International Ltd
3 letters discussing MCDIF. Everything written about it on this site is on its ticker page.
- Alluvial Capital Management Letter to Limited Partners First Quarter 2026 Alluvial Fund sold Peakstone Realty Trust after Brookfield agreed to acquire it and trimmed Zegona Communications to limit position size. The fund defended EACO's shareholder lawsuit settlement and retained FitLife Brands despite distribution problems. It added Gulf Marine Services, citing debt reduction, contracted cash flows and a discount created by regional disruption. First Quarter 2026 FTLF $82MGMS $263MMCDIF $125M
- PenderFund Capital Management Ltd. Pender Small Cap Opportunities Fund - June 2026 Pender Small Cap Opportunities Fund increased cash and merger-arbitrage exposure while adding technology holdings and favouring catalyst-driven situations. It argues that McDermott’s rights issue should strengthen its balance sheet, views Kneat’s acquisition as evidence of small-cap technology undervaluation, and backs Telesat and MDA Space on government-linked demand and visible backlogs. Q2 2026 MCDIF $125MMDA $4.7BTSAT $680M
- Alluvial Capital Management Letter to Limited Partners Fourth Quarter 2025 Zegona Communications monetized fiber assets, cut debt and repurchased shares following its Vodafone Spain acquisition, while Alluvial retained the position despite its rerating. The fund added Sylvamo, Itafos and McDermott International, citing temporary paper-market pressure, structurally tight phosphate supply and McDermott’s operational recovery. Crawford United agreed to sell to SPX Technologies, a deal Alluvial views as undervaluing parts of the business. Fourth Quarter 2025 ZEG $5.3BGTX $4.9BITFS $299M
