Triangle Petroleum (TPLM) was the Fund’s top performer, rising over 42 percent and adding 41 basis points of return during the quarter. Overall, our holdings in this sector are experiencing superior production growth. Triangle is strategically evaluating its business units and may spin-off or sell a division in the future. We have a favorable opinion of this potential restructuring, as we believe that decision could unlock significant value.
From John Keeley (Trades, Portfolio)’s KEELEY Small Cap Value Fund Second Quarter 2014 Commentary.
