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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
+34.02%
1 Year Est. Return
+31.05%
3 Year Est. Return
+130.01%
5 Year Est. Return
+118.66%
10 Year Est. Return
–
AUM
$367M
AUM Growth
-$98.3M
Cap. Flow
-$220M
Cap. Flow %
-59.98%
Top 10 Hldgs %
53.71%
Holding
177
New
41
Increased
33
Reduced
13
Closed
35

Top Buys

Rank Stock Value
1
ESPR
Esperion Therapeutics
ESPR
+$3.69M
2
FET icon
Forum Energy Technologies
FET
+$3.3M
3
STNE icon
StoneCo
STNE
+$1.41M
4
MRVI icon
Maravai LifeSciences
MRVI
+$972K
5
LAD icon
Lithia Motors
LAD
+$817K

Top Sells

Rank Stock Value
1
NAD icon
Nuveen Quality Municipal Income Fund
NAD
+$5.61M
2
NEA icon
Nuveen AMT-Free Quality Municipal Income Fund
NEA
+$4.3M
3
LSPD icon
Lightspeed Commerce
LSPD
+$2.75M
4
IBKR icon
Interactive Brokers
IBKR
+$2.55M
5
TPL icon
Texas Pacific Land
TPL
+$2.38M

Sector Composition

Rank Sector Weight
1 Technology 18.98%
2 Financials 18.42%
3 Industrials 12.61%
4 Consumer Discretionary 10.54%
5 Healthcare 6.01%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
DESP
51
DELISTED
Despegar.com
DESP
$438K 0.12%
+18,348
New +$352K
DLTR icon
52
Dollar Tree
DLTR
$25.2B
$435K 0.12%
219
+124
+131% +$8.87K
SIMA
53
SIM Acquisition Corp I
SIMA
$423K 0.12%
25,000
– –
HES
54
DELISTED
Hess
HES
$417K 0.11%
1,500
– –
NOC icon
55
Northrop Grumman
NOC
$81.2B
$415K 0.11%
1,400
– –
G icon
56
Genpact
G
$5.79B
$404K 0.11%
397
+225
+131% +$11.2K
FERAU
57
Fifth Era Acquisition Corp I Units
FERAU
$390K 0.11%
+10,100
New +$101K
FNA
58
DELISTED
Paragon 28, Inc.
FNA
$376K 0.1%
+41,900
New +$522K
ERO icon
59
Ero Copper
ERO
$3.55B
$356K 0.1%
123,492
+836
+0.7% +$11.1K
VCICW
60
DELISTED
Vine Hill Capital Investment Corp Warrant
VCICW
$354K 0.1%
12,500
– –
CKPT
61
DELISTED
Checkpoint Therapeutics
CKPT
$352K 0.1%
+96,600
New +$322K
ATSG
62
DELISTED
Air Transport Services Group
ATSG
$345K 0.09%
20,100
-4,200
-17% -$93.4K
PROF
63
Profound Medical
PROF
$272M
$343K 0.09%
9,400
– –
TDW icon
64
Tidewater
TDW
$4.11B
$334K 0.09%
+303
New +$15.1K
SANG
65
Sangoma Technologies
SANG
$133M
$326K 0.09%
3,481,633
-67,100
-2% -$406K
AVNW icon
66
Aviat Networks
AVNW
$273M
$317K 0.09%
2,600
-1,100
-30% -$22.2K
VOXX
67
DELISTED
VOXX International Corporation Class A
VOXX
$307K 0.08%
40,955
+32,155
+365% +$239K
SIMAW
68
SIM Acquisition Corp I Warrant
SIMAW
$2.42M
$303K 0.08%
12,500
+1
+0% –
IMSR
69
Terrestrial Energy
IMSR
$613M
$296K 0.08%
30,000
– –
LSPD icon
70
Lightspeed Commerce
LSPD
$1.35B
$293K 0.08%
161,181
-213,619
-57% -$2.75M
EMD
71
Western Asset Emerging Markets Debt Fund
EMD
$614M
$288K 0.08%
28
– –
UNF icon
72
Unifirst Corp
UNF
$5.25B
$252K 0.07%
+400
New +$83.5K
LAD icon
73
Lithia Motors
LAD
$8.27B
$251K 0.07%
+2,400
New +$817K
EL icon
74
Estee Lauder
EL
$32.1B
$240K 0.07%
203
+132
+186% +$9.55K
MOH icon
75
Molina Healthcare
MOH
$10.3B
$236K 0.06%
10,071
+40
+0.4% +$12.1K
1 2
3
4 5

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SCP
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SFG
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WHGAM
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WCM
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PenderFund Capital Management's Q1 2025 Portfolio in Review

As of Q1 2025, PenderFund Capital Management held 177 positions worth $367M, down 21% from $465M the previous quarter. Its ten largest holdings account for 54% of the portfolio.

PenderFund Capital Management withdrew a net $220M in Q1 2025, closing 35 positions and reducing 13 holdings. Its most notable exit was Nuveen Quality Municipal Income Fund, an estimated $5.61M position sold in full.

By sector, the portfolio is most concentrated in Technology at 19% of assets, down from 19% a quarter earlier, followed by Financials and Industrials.

Against the trend, PenderFund Capital Management opened a new position in Esperion Therapeutics worth $10.8M.

  • PenderFund Capital Management's largest Q1 2025 buy was Esperion Therapeutics: 2,000,000 shares worth $10.8M.
  • PenderFund Capital Management added most to Forum Energy Technologies in Q1 2025, an estimated $3.3M increase.
  • PenderFund Capital Management's biggest Q1 2025 reduction was Lightspeed Commerce, cutting an estimated $2.75M.
  • PenderFund Capital Management fully exited Nuveen Quality Municipal Income Fund in Q1 2025, selling an estimated $5.61M.
  • PenderFund Capital Management's ten largest holdings make up 54% of its $367M portfolio in Q1 2025.
  • PenderFund Capital Management opened 41 new positions and closed 35 in Q1 2025.
  • PenderFund Capital Management's portfolio value fell 21% quarter-over-quarter to $367M.

Based on PenderFund Capital Management's 13F filing for Q1 2025, filed 15 May 2025.