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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
CMA
101
DELISTED
Comerica
CMA
$208K 0.03%
+2,397
New +$193K
ASTL icon
102
Algoma Steel
ASTL
$419M
$206K 0.03%
+50,000
New +$199K
KW
103
DELISTED
Kennedy-Wilson Holdings
KW
$205K 0.03%
21,200
-158,200
-88% -$1.42M
EVAC
104
EQV Ventures Acquisition Corp II
EVAC
$600M
$201K 0.03%
+20,000
New +$200K
CDTX
105
DELISTED
Cidara Therapeutics
CDTX
$199K 0.03%
+900
New +$145K
BHF icon
106
Brighthouse Financial
BHF
$3.57B
$188K 0.03%
+2,900
New +$170K
NWE icon
107
NorthWestern Energy
NWE
$4.32B
$187K 0.03%
2,900
+2,269
+360% +$144K
WRN
108
Western Copper and Gold
WRN
$526M
$183K 0.03%
68,500
-250,000
-78% -$577K
HVMCU
109
Highview Merger Corp Units
HVMCU
$182K 0.03%
18,000
– –
MKLYU
110
McKinley Acquisition Corp Units
MKLYU
$159M
$182K 0.03%
18,000
– –
LYTS icon
111
LSI Industries
LYTS
$913M
$178K 0.03%
9,730
– –
WENN
112
Wen Acquisition Corp
WENN
$388M
$178K 0.03%
+17,600
New +$179K
RNGTU
113
Range Capital Acquisition Corp II Units
RNGTU
$212M
$177K 0.03%
+17,320
New +$176K
PACH
114
Pioneer Acquisition I Corp
PACH
$292M
$175K 0.03%
+17,400
New +$175K
PLYM
115
DELISTED
Plymouth Industrial REIT
PLYM
$175K 0.03%
+8,000
New +$176K
JAMF
116
DELISTED
Jamf
JAMF
$173K 0.03%
+13,300
New +$161K
AVDL
117
DELISTED
Avadel Pharmaceuticals
AVDL
$172K 0.03%
+8,004
New +$155K
CWAN
118
DELISTED
Clearwater Analytics
CWAN
$171K 0.03%
+7,100
New +$142K
FOLD
119
DELISTED
Amicus Therapeutics
FOLD
$169K 0.03%
+11,900
New +$117K
JHG
120
DELISTED
Janus Henderson
JHG
$166K 0.03%
+3,500
New +$155K
EM
121
DELISTED
Smart Share Global Ltd
EM
$154K 0.02%
131,500
+58,500
+80% +$78K
ONTF
122
DELISTED
ON24
ONTF
$150K 0.02%
+18,900
New +$107K
FONR
123
DELISTED
Fonar
FONR
$150K 0.02%
+8,100
New +$122K
GIFI
124
DELISTED
Gulf Island Fabrication
GIFI
$150K 0.02%
+12,522
New +$126K
FNF icon
125
Fidelity National Financial
FNF
$14.1B
$147K 0.02%
2,694
– –
3 4
5
6 7

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BPC
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KCM
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SCP
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SFG
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FTC
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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.