This fund is holding Sierra Wireless "Sierra Wireless
"Yet another high-technology name, Vancouver-based Sierra Wireless (TSX: SW)(Nasdaq: SWIR) is the global leader in machine-to-machine (M2M) devices. The company offers wireless modules, gateways and modems, and cloud services to a wide variety of customers around the world. Total machine-to-machine connections are currently growing at 46% per year, helping Sierra grow its business.
Sierra has been one of the fund’s big winners in recent years, and as a result the best time to buy the shares may have passed. In late 2012, the stock was trading below $8 per share – now it is trading above $23. And the company trades at over 30 times cash flow from operations. But if the company continues to grow, and is able to effectively scale the businesses, then the shares may actually be trading at a bargain"