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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
LPAAW
251
Launch One Acquisition Corp Warrant
LPAAW
$1.73M
– –
-30,000
Closed -$7.2K
VACHW
252
DELISTED
Voyager Acquisition Corp Warrants
VACHW
– –
-2,500
Closed -$425
VCICW
253
DELISTED
Vine Hill Capital Investment Corp Warrant
VCICW
– –
-12,500
Closed -$20K
PHLT
254
DELISTED
Performant Healthcare Inc
PHLT
– –
-39,600
Closed -$306K
FERAU
255
Fifth Era Acquisition Corp I Units
FERAU
– –
-10,100
Closed -$105K
SOUL.U
256
Soulpower Acquisition Corp Units
SOUL.U
$273M
– –
-30,051
Closed -$319K
TACHU
257
Titan Acquisition Corp Units
TACHU
$257M
– –
-36,600
Closed -$377K
TVACU
258
Texas Ventures Acquisition III Corp Unit
TVACU
– –
-191
Closed -$2.11K
NPACU
259
New Providence Acquisition Corp III Units
NPACU
– –
-14,700
Closed -$151K
CHACU
260
DELISTED
Crane Harbor Acquistion Corp Units
CHACU
– –
-14,700
Closed -$167K
IPCXU
261
Inflection Point Acquisition Corp III Units
IPCXU
– –
-5,000
Closed -$52.5K
RDAGU
262
Republic Digital Acquisition Co Unit
RDAGU
– –
-5,000
Closed -$52.4K
CGCTU
263
DELISTED
Cartesian Growth Corp III Unit
CGCTU
– –
-24,100
Closed -$245K
PMTRU
264
Perimeter Acquisition Corp I Unit
PMTRU
$195M
– –
-10,000
Closed -$105K
TVAIU
265
Thayer Ventures Acquisition Corporation II Unit
TVAIU
– –
-25,000
Closed -$255K
WENNU
266
Wen Acquisition Corp Unit
WENNU
– –
-10,000
Closed -$104K
BLUWU
267
Blue Water Acquisition Corp III Unit
BLUWU
– –
-24,700
Closed -$249K
BSAAU
268
BEST SPAC I Acquisition Corp Unit
BSAAU
– –
-18,500
Closed -$188K
PACHU
269
Pioneer Acquisition I Corp Units
PACHU
– –
-17,400
Closed -$175K
LWACU
270
LightWave Acquisition Corp Units
LWACU
– –
-10,000
Closed -$100K
OBAWU
271
Oxley Bridge Acquisition Ltd Unit
OBAWU
– –
-5,000
Closed -$50.3K
FIGXU
272
FIGX Capital Acquisition Corp Units
FIGXU
$140M
– –
-5,000
Closed -$50.4K
EVAC.U
273
EQV Ventures Acquisition Corp II Units
EVAC.U
– –
-20,000
Closed -$200K
ONCHU
274
1RT Acquisition Corp Units
ONCHU
– –
-5,000
Closed -$52.5K
SOCAU
275
Solarius Capital Acquisition Corp Units
SOCAU
– –
-29,100
Closed -$307K
8 9 10
11
12

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SJIC
St. James Investment Company Southlake, Texas $638M AUM 15.14% 1-Year Est. Return
BPC
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KCM
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SCP
Stamos Capital Partners Menlo Park, California $640M AUM 15.65% 1-Year Est. Return
SFG
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FTC
Farmers Trust Company Youngstown, Ohio $637M AUM 23.14% 1-Year Est. Return
WHGAM
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WCM
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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.