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In the vast and indifferent theatre of capital, where fortunes are gambled like dice across the velvet table of opportunity, Paradice Investment Management LLC executed a decisive hand. In its quarterly report to the U.S. Securities and Exchange Commission, it disclosed the sale of the entire 238,145 shares of Progress Software Corporation, a transaction valued at $15.20 million. This, not by chance, but with the deliberation of a man removing a thorn from his foot-he decides not in haste, but knowing the wound has long festered in vain. The position, once 3.1% of Paradice’s reportable assets, now vanishes like dust in a desert wind.
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Yet what is this act to the historian of high finance? A confession-a man who once held the weight of Progress on his ledger now has his hands free. Progress Software, once a specter haunting 17th place among Paradice’s 26 holdings, has been purged. It now constitutes 0% of the 13F assets under the firm’s management. One might ask: what god spurs such a purge? Is it fear of stagnant fruit? Or the seductive whisper of a market elsewhere more fruitful? The answer, like all answers in this age of numbers, is buried in yield and momentum.
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Among Paradice’s new holdings, a curious array festers: Nyse: GMED at $37.97 million (8.5% of AUM), Nyse: NVST at $36.81 million (8.3%), Nyse: LEA at $32.28 million (7.2%), and Nyse: MHK at $30.58 million (6.9%). These names hum in the machine, but their worth to beyond their digits remains a riddle. Is betterment in their numbers alone, or in the lives they touch? The shareholder, like the poet, must ask.
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| Metric | Value |
|---|---|
| Price (as of market close 10/24/25) | $46.01 |
| Market Capitalization | $1.97 billion |
| Revenue (TTM) | $940.13 million |
| Net Income (TTM) | $48.53 million |
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Progress Software, this company of software and data conduits, peddles tools for the digital tapestry. OpenEdge, Sitefinity, Chef-it names its wares, yet their purpose is the same: to automate, to connect, to serve. It sells to those who need, and those who need are many. Its global sprawl-from Asia Pacific to the Middle East-is a testament to modernity’s hunger for order. Yet, in this hunger, does it not betray the essence of human toil? Must labour be stripped of its struggle to be called “progress”?
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Paradice’s Foolish take? Progress Software was one of seven exorcisms in the third quarter, the fourth-largest at $15.2 million. Not a cataclysm, but a calculated pruning. For Progress, the market’s fruit proves sourer than anticipated. Its shares wilt at $45.02, an anemic 47.43 points behind the S&P 500. A paradox: in a world chasing automation, the sellers profit, while the producers languish. Is it the machine’s fault, or the men who wielded it? History offers no hand, only silence.
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Yet Progress claims a 47% surge in annualized recurring revenue, a flare in darkness. Its leadership, emboldened, danced with new forecasts. But forecasts, like sermons, are promises made in the heat of the moment. Will they echo in the years to come? Or will the dust of time bury them like the shares now sold?
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13F assets under management: A ledger of capital’s chaos.
AUM: The soul of a fund, weighed in dollars.
Quarterly report: A snapshot of the human condition in wedged numbers.
Stake: A man’s claim to the future, however tenuous.
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The hunter of dividends might sigh at such transactions. For what is capital if not a tide, always shifting? Yet in its ebb and flow, where does the fruit lie? Let us watch, but with eyes not clouded by the illusion of control. 🦄
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In the vast and indifferent theatre of capital, where fortunes are gambled like dice across the velvet table of opportunity, Paradice Investment Management LLC executed a decisive hand. In its quarterly report to the U.S. Securities and Exchange Commission, it disclosed the sale of the entire 238,145 shares of Progress Software Corporation, a transaction valued at $15.20 million. This, not by chance, but with the deliberation of a man removing a thorn from his foot-he decides not in haste, but knowing the wound has long festered in vain. The position, once 3.1% of Paradice’s reportable assets, now vanishes like dust in a desert wind.
Yet what is this act to the historian of high finance? A confession-a man who once held the weight of Progress on his ledger now has his hands free. Progress Software, once a specter haunting 17th place among Paradice’s 26 holdings, has been purged. It now constitutes 0% of the 13F assets under the firm’s management. One might ask: what god spurs such a purge? Is it fear of stagnant fruit? Or the seductive whisper of a market elsewhere more fruitful? The answer, like all answers in this age of numbers, is buried in yield and momentum.
Among Paradice’s new holdings, a curious array festers: Nyse: GMED at $37.97 million (8.5% of AUM), Nyse: NVST at $36.81 million (8.3%), Nyse: LEA at $32.28 million (7.2%), and Nyse: MHK at $30.58 million (6.9%). These names hum in the machine, but their worth to beyond their digits remains a riddle. Is betterment in their numbers alone, or in the lives they touch? The shareholder, like the poet, must ask.
| Metric | Value |
|---|---|
| Price (as of market close 10/24/25) | $46.01 |
| Market Capitalization | $1.97 billion |
| Revenue (TTM) | $940.13 million |
| Net Income (TTM) | $48.53 million |
Progress Software, this company of software and data conduits, peddles tools for the digital tapestry. OpenEdge, Sitefinity, Chef-it names its wares, yet their purpose is the same: to automate, to connect, to serve. It sells to those who need, and those who need are many. Its global sprawl-from Asia Pacific to the Middle East-is a testament to modernity’s hunger for order. Yet, in this hunger, does it not betray the essence of human toil? Must labour be stripped of its struggle to be called “progress”?
Paradice’s Foolish take? Progress Software was one of seven exorcisms in the third quarter, the fourth-largest at $15.2 million. Not a cataclysm, but a calculated pruning. For Progress, the market’s fruit proves sourer than anticipated. Its shares wilt at $45.02, an anemic 47.43 points behind the S&P 500. A paradox: in a world chasing automation, the sellers profit, while the producers languish. Is it the machine’s fault, or the men who wielded it? History offers no hand, only silence.
Yet Progress claims a 47% surge in annualized recurring revenue, a flare in darkness. Its leadership, emboldened, danced with new forecasts. But forecasts, like sermons, are promises made in the heat of the moment. Will they echo in the years to come? Or will the dust of time bury them like the shares now sold?
13F assets under management: A ledger of capital’s chaos.
AUM: The soul of a fund, weighed in dollars.
Quarterly report: A snapshot of the human condition in wedged numbers.
Stake: A man’s claim to the future, however tenuous.
The hunter of dividends might sigh at such transactions. For what is capital if not a tide, always shifting? Yet in its ebb and flow, where does the fruit lie? Let us watch, but with eyes not clouded by the illusion of control. 🦄
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2025-10-26 16:42