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PenderFund Capital Management Portfolio holdings

AUM $639M
1-Year Est. Return 31.05%
This Fund
S&P 500
This Quarter Est. Return
+7.96%
1 Year Est. Return
+31.05%
3 Year Est. Return
+130.01%
5 Year Est. Return
+118.66%
10 Year Est. Return
–
AUM
$635M
AUM Growth
+$41.9M
Cap. Flow
-$261M
Cap. Flow %
-41.08%
Top 10 Hldgs %
52.81%
Holding
298
New
97
Increased
37
Reduced
21
Closed
82

Top Buys

Rank Stock Value
1
SARO
StandardAero Inc
SARO
+$2.2M
2
ADUS icon
Addus HomeCare
ADUS
+$2.08M
3
BGSI
Boyd Group Services
BGSI
+$2M
4
FLR icon
Fluor
FLR
+$1.96M
5
DLTR icon
Dollar Tree
DLTR
+$1.95M

Top Sells

Rank Stock Value
1
EQX icon
Equinox Gold
EQX
+$48.5M
2
WEAT icon
Teucrium Wheat Fund
WEAT
+$14.3M
3
PAR icon
PAR Technology
PAR
+$13.5M
4
PPLT
abrdn Physical Platinum Shares ETF
PPLT
+$9.25M
5
ESPR
Esperion Therapeutics
ESPR
+$7.38M

Sector Composition

Rank Sector Weight
1 Technology 8.67%
2 Materials 6.89%
3 Healthcare 3.57%
4 Financials 3.5%
5 Industrials 1.5%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MRUS
226
DELISTED
Merus
MRUS
– –
-1,800
Closed -$169K
MTAL
227
DELISTED
Metals Acquisition
MTAL
– –
-26,450
Closed -$323K
MURA
228
DELISTED
Mural Oncology
MURA
– –
-82,800
Closed -$171K
PBPB
229
DELISTED
Potbelly
PBPB
– –
-10,900
Closed -$186K
PGRE
230
DELISTED
Paramount Group
PGRE
– –
-5,000
Closed -$32.7K
PINC
231
DELISTED
Premier
PINC
– –
-6,200
Closed -$172K
PRO
232
DELISTED
PROS Holdings
PRO
– –
-5,100
Closed -$117K
PVBC
233
DELISTED
Provident Bancorp
PVBC
– –
-18,300
Closed -$229K
SAND
234
DELISTED
Sandstorm Gold
SAND
– –
-42,500
Closed -$532K
SCS
235
DELISTED
Steelcase
SCS
– –
-5,900
Closed -$101K
SOL
236
DELISTED
Emeren Group
SOL
– –
-114,233
Closed -$216K
SZZLU
237
Sizzle Acquisition Corp II Unit
SZZLU
– –
-24,448
Closed -$251K
TASK icon
238
TaskUs
TASK
$669M
– –
-8,800
Closed -$157K
TIXT
239
DELISTED
TELUS International
TIXT
– –
-16,700
Closed -$74.8K
TRML
240
DELISTED
Tourmaline Bio
TRML
– –
-3,000
Closed -$143K
VMEO
241
DELISTED
Vimeo
VMEO
– –
-53,000
Closed -$411K
VRNA
242
DELISTED
Verona Pharma
VRNA
– –
-3,900
Closed -$416K
VRNT
243
DELISTED
Verint Systems
VRNT
– –
-4,600
Closed -$93.2K
VTLE
244
DELISTED
Vital Energy
VTLE
– –
-13,400
Closed -$226K
WEAT icon
245
Teucrium Wheat Fund
WEAT
$295M
– –
-696,000
Closed -$14.3M
WNS
246
DELISTED
WNS Holdings
WNS
– –
-3,300
Closed -$252K
WOW
247
DELISTED
WideOpenWest
WOW
– –
-19,000
Closed -$98K
ZIMV
248
DELISTED
ZimVie
ZIMV
– –
-13,700
Closed -$259K
IBAC
249
IB Acquisition Corp
IBAC
– –
-21,900
Closed -$230K
BKHA
250
Black Hawk Acquisition Corp
BKHA
$48.9M
– –
-967
Closed -$10.8K
8 9
10
11 12

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SCP
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SFG
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PenderFund Capital Management's Q4 2025 Portfolio in Review

As of Q4 2025, PenderFund Capital Management held 298 positions worth $635M, up 7.1% from $593M the previous quarter. Its ten largest holdings account for 53% of the portfolio.

PenderFund Capital Management withdrew a net $261M in Q4 2025, closing 82 positions and reducing 21 holdings. Its most notable exit was Equinox Gold, an estimated $48.5M position sold in full.

By sector, the portfolio is most concentrated in Technology at 8.7% of assets, up from 7.8% a quarter earlier, followed by Materials and Healthcare.

Against the trend, PenderFund Capital Management opened a new position in StandardAero Inc worth $2.31M.

  • PenderFund Capital Management's largest Q4 2025 buy was StandardAero Inc: 80,700 shares worth $2.31M.
  • PenderFund Capital Management added most to Addus HomeCare in Q4 2025, an estimated $2.08M increase.
  • PenderFund Capital Management's biggest Q4 2025 reduction was abrdn Physical Platinum Shares ETF, cutting an estimated $9.25M.
  • PenderFund Capital Management fully exited Equinox Gold in Q4 2025, selling an estimated $48.5M.
  • PenderFund Capital Management's ten largest holdings make up 53% of its $635M portfolio in Q4 2025.
  • PenderFund Capital Management opened 97 new positions and closed 82 in Q4 2025.
  • PenderFund Capital Management's portfolio value rose 7.1% quarter-over-quarter to $635M.

Based on PenderFund Capital Management's 13F filing for Q4 2025, filed 17 Feb 2026.