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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
+13.88%
1 Year Est. Return
+31.05%
3 Year Est. Return
+130.01%
5 Year Est. Return
+118.66%
10 Year Est. Return
–
AUM
$593M
AUM Growth
+$170M
Cap. Flow
-$184M
Cap. Flow %
-31.12%
Top 10 Hldgs %
49.91%
Holding
250
New
89
Increased
21
Reduced
23
Closed
43

Top Buys

Rank Stock Value
1
EQX icon
Equinox Gold
EQX
+$30.6M
2
WEAT icon
Teucrium Wheat Fund
WEAT
+$15M
3
PAR icon
PAR Technology
PAR
+$10.2M
4
TSAT icon
Telesat
TSAT
+$7.36M
5
DECK icon
Deckers Outdoor
DECK
+$2.61M

Top Sells

Rank Stock Value
1
DCBO
Docebo
DCBO
+$4.4M
2
Z icon
Zillow
Z
+$3.49M
3
FLYY
Spirit Aviation Holdings, Inc.
FLYY
+$2.89M
4
FET icon
Forum Energy Technologies
FET
+$2.72M
5
SANG
Sangoma Technologies
SANG
+$2.37M

Sector Composition

Rank Sector Weight
1 Materials 8.67%
2 Technology 7.8%
3 Healthcare 4.17%
4 Financials 3.06%
5 Energy 1.61%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TASK icon
101
TaskUs
TASK
$667M
$157K 0.03%
+8,800
New +$152K
CCRN
102
DELISTED
Cross Country Healthcare
CCRN
$152K 0.03%
10,700
-7,400
-41% -$97.7K
NPACU
103
New Providence Acquisition Corp III Units
NPACU
$151K 0.03%
14,700
– –
TRML
104
DELISTED
Tourmaline Bio
TRML
$143K 0.02%
+3,000
New +$83.2K
ETNB
105
DELISTED
89bio
ETNB
$138K 0.02%
+9,400
New +$95.8K
IMXI icon
106
International Money Express
IMXI
$365M
$133K 0.02%
+9,500
New +$118K
HBI
107
DELISTED
Hanesbrands
HBI
$125K 0.02%
+18,900
New +$104K
GHLD
108
DELISTED
Guild Holdings
GHLD
$124K 0.02%
+6,200
New +$123K
AMWD
109
DELISTED
American Woodmark
AMWD
$120K 0.02%
+1,800
New +$110K
PRO
110
DELISTED
PROS Holdings
PRO
$117K 0.02%
+5,100
New +$82.9K
MRC
111
DELISTED
MRC Global
MRC
$115K 0.02%
+8,000
New +$114K
TONT
112
Graf Global Corp
TONT
$153M
$105K 0.02%
10,000
– –
FERAU
113
Fifth Era Acquisition Corp I Units
FERAU
$105K 0.02%
10,100
– –
MBVIU
114
M3-Brigade Acquisition VI Corp Units
MBVIU
$105K 0.02%
+10,387
New +$104K
PMTRU
115
Perimeter Acquisition Corp I Unit
PMTRU
$195M
$105K 0.02%
10,000
– –
WENNU
116
Wen Acquisition Corp Unit
WENNU
$104K 0.02%
10,000
– –
BLZRU
117
Trailblazer Acquisition Corp Unit
BLZRU
$205M
$103K 0.02%
+10,000
New +$101K
CEPF
118
Cantor Equity Partners IV
CEPF
$594M
$102K 0.02%
+10,000
New +$102K
SCS
119
DELISTED
Steelcase
SCS
$101K 0.02%
+5,900
New +$85.2K
LWACU
120
LightWave Acquisition Corp Units
LWACU
$100K 0.02%
10,000
– –
ONL
121
Orion Office REIT
ONL
$167M
$99.9K 0.02%
+37,000
New +$99K
CHECU
122
Chenghe Acquisition III Co Units
CHECU
$99.8K 0.02%
+10,000
New +$99.9K
LATAU
123
Galata Acquisition Corp. II Units
LATAU
$99.8K 0.02%
+10,000
New +$99.9K
EM
124
DELISTED
Smart Share Global Ltd
EM
$98.5K 0.02%
+73,000
New +$90.5K
WOW
125
DELISTED
WideOpenWest
WOW
$98K 0.02%
+19,000
New +$85.2K
3 4
5
6 7

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SCP
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SFG
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WHGAM
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PenderFund Capital Management's Q3 2025 Portfolio in Review

As of Q3 2025, PenderFund Capital Management held 250 positions worth $593M, up 40% from $423M the previous quarter. Its ten largest holdings account for 50% of the portfolio.

PenderFund Capital Management withdrew a net $184M in Q3 2025, closing 43 positions and reducing 23 holdings. Its most notable exit was Docebo, an estimated $4.4M position sold in full.

By sector, the portfolio is most concentrated in Materials at 8.7% of assets, up from 0.53% a quarter earlier, followed by Technology and Healthcare.

Against the trend, PenderFund Capital Management opened a new position in Equinox Gold worth $43.1M.

  • PenderFund Capital Management's largest Q3 2025 buy was Equinox Gold: 3,846,154 shares worth $43.1M.
  • PenderFund Capital Management added most to PAR Technology in Q3 2025, an estimated $10.2M increase.
  • PenderFund Capital Management's biggest Q3 2025 reduction was Forum Energy Technologies, cutting an estimated $2.72M.
  • PenderFund Capital Management fully exited Docebo in Q3 2025, selling an estimated $4.4M.
  • PenderFund Capital Management's ten largest holdings make up 50% of its $593M portfolio in Q3 2025.
  • PenderFund Capital Management opened 89 new positions and closed 43 in Q3 2025.
  • PenderFund Capital Management's portfolio value rose 40% quarter-over-quarter to $593M.

Based on PenderFund Capital Management's 13F filing for Q3 2025, filed 14 Nov 2025.