PCM

PenderFund Capital Management Portfolio holdings

AUM $514M

AUM

$514M

AUM Growth

+$48.8M (+10%)

Cap. Flow

+$20.5M

Cap. Flow % of AUM

3.99%

Top 10 Holdings %Top 10 Hldgs %

53.25%

Holding

179

New

Increased

Reduced

Closed

Top Buys

1	Forum Energy Technologies FET	$5.17M
2	Esperion Therapeutics ESPR	$4.14M
3	StoneCo STNE	$2.26M
4	Lithia Motors LAD	$1.01M
5	FNA Paragon 28, Inc. FNA	$787K

Top Sells

1	Lightspeed Commerce LSPD	$2.69M
2	PAR Technology PAR	$2.61M
3	KKR & Co KKR	$732K
4	SANG Sangoma Technologies SANG	$435K
5	Enstar Group ESGR	$287K

Sector Composition

1	Technology	11.63%
2	Financials	4.96%
3	Healthcare	3.44%
4	Energy	2.22%
5	Communication Services	1.67%

#	Name	Market Value	Portfolio Weight	Shares or Principal	Shares Change %	Capital Flow
126	126 Nuveen Quality Municipal Income Fund NAD $2.61B	$0	0%	0 -335,000	Closed	–
127	127 Nuveen AMT-Free Quality Municipal Income Fund NEA $3.21B	$0	0%	0 -265,000	Closed	–
128	128 Quetta Acquisition Corp QETA	$0	0%	0 -6,195	Closed	–
129	129 SPAR Group SGRP $25.1M	$0	0%	0 -60,900	Closed	–
130	130 Stratasys SSYS $877M	$0	0%	0 -35,940	Closed	–
131	131 Texas Pacific Land TPL $25B	$0	0%	0 -1,500	Closed	–
132	USARW 132 USA Rare Earth, Inc. Warrant USARW $272M	$0	0%	12,499	New	–
133	VMCA 133 DELISTED Valuence Merger Corp. I Class A Ordinary Shares VMCA	$0	0%	0 -33,435	Closed	–
134	AQU 134 DELISTED Aquaron Acquisition Corp. Common Stock AQU	$0	0%	0 -21,901	Closed	–
135	PFC 135 DELISTED Premier Financial Corp. Common Stock PFC	$0	0%	0 -9,500	Closed	–
136	HCP 136 DELISTED HashiCorp, Inc. Class A Common Stock HCP	$0	0%	0 -7,900	Closed	–
137	ZUO 137 DELISTED Zuora, Inc. ZUO	$0	0%	0 -56,796	Closed	–
138	SILV 138 DELISTED SilverCrest Metals Inc. Common Shares SILV	$0	0%	0 -21,100	Closed	–
139	CTV 139 DELISTED Innovid Corp. CTV	$0	0%	0 -148,000	Closed	–
140	ROIC 140 DELISTED Retail Opportunity Investments Corp. ROIC	$0	0%	0 -15,100	Closed	–
141	SUM 141 DELISTED Summit Materials, Inc. Class A Common Stock SUM	$0	0%	0 -8,000	Closed	–
142	CDMO 142 DELISTED Avid Bioservices, Inc. Common Stock CDMO	$0	0%	0 -47,200	Closed	–
143	AE 143 DELISTED Adams Resources & Energy Inc. AE	$0	0%	0 -10,496	Closed	–
144	BCOV 144 DELISTED Brightcove, Inc. BCOV	$0	0%	0 -126,900	Closed	–
145	SCWX 145 DELISTED SecureWorks Corp Class A Common Stock SCWX	$0	0%	0 -58,400	Closed	–
146	BMTX 146 DELISTED BM Technologies, Inc. BMTX	$0	0%	0 -33,400	Closed	–
147	HTLF 147 DELISTED Heartland Financial USA, Inc. HTLF	$0	0%	0 -4,000	Closed	–
148	B 148 DELISTED Barnes Group Inc. B	$0	0%	0 -13,400	Closed	–
149	SMAR 149 DELISTED Smartsheet Inc. SMAR	$0	0%	0 -11,900	Closed	–
150	USAP 150 DELISTED Universal Stainless & Alloy USAP	$0	0%	0 -10,900	Closed	–