PenderFund Capital Management’s USA Rare Earth, Inc. Warrant USARW Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2025 Q2	–	Sell	-12,499	Closed	-$189K	–	186
2025 Q1	$189K	Buy	+12,499	New	+$189K	0.05%	88
2023 Q4	–	Sell	-12,499	Closed	-$3K	–	115
2023 Q3	$3K	Buy	+12,499	New	+$3K	﹤0.01%	107