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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
DAY
126
DELISTED
Dayforce
DAY
$96.4K 0.02%
+1,400
New +$87.1K
GTLB icon
127
GitLab
GTLB
$6.58B
$94.7K 0.02%
2,100
+1,200
+133% +$54.9K
VRNT
128
DELISTED
Verint Systems
VRNT
$93.2K 0.02%
+4,600
New +$94.7K
IAS
129
DELISTED
Integral Ad Science
IAS
$92.5K 0.02%
+9,100
New +$78.8K
TIXT
130
DELISTED
TELUS International
TIXT
$74.8K 0.01%
+16,700
New +$67.7K
FROG icon
131
JFrog
FROG
$10.8B
$71K 0.01%
1,500
– –
AHL
132
DELISTED
Aspen Insurance
AHL
$69.7K 0.01%
+1,900
New +$62.5K
MSOS icon
133
AdvisorShares Pure US Cannabis ETF
MSOS
$880M
$64.7K 0.01%
+13,500
New +$53.2K
TGNA
134
DELISTED
TEGNA Inc
TGNA
$59K 0.01%
+2,900
New +$55.3K
AL
135
DELISTED
Air Lease Corp
AL
$58.9K 0.01%
+926
New +$55.3K
HOUS
136
DELISTED
Anywhere Real Estate
HOUS
$58.2K 0.01%
+5,500
New +$32.3K
FCRS.U
137
FutureCrest Acquisition Corp Units
FCRS.U
$53K 0.01%
+5,000
New +$52.5K
IPCXU
138
Inflection Point Acquisition Corp III Units
IPCXU
$52.5K 0.01%
5,000
– –
VACH
139
DELISTED
Voyager Acquisition Corp
VACH
$52.5K 0.01%
5,000
– –
ONCHU
140
1RT Acquisition Corp Units
ONCHU
$52.5K 0.01%
+5,000
New +$52.3K
RDAGU
141
Republic Digital Acquisition Co Unit
RDAGU
$52.4K 0.01%
5,000
– –
FIGXU
142
FIGX Capital Acquisition Corp Units
FIGXU
$140M
$50.4K 0.01%
5,000
– –
OBAWU
143
Oxley Bridge Acquisition Ltd Unit
OBAWU
$50.3K 0.01%
5,000
– –
HOLX
144
DELISTED
Hologic
HOLX
$47.2K 0.01%
+700
New +$46.5K
PROF
145
Profound Medical
PROF
$269M
$45.9K 0.01%
9,400
– –
GOOS
146
Canada Goose Holdings
GOOS
$856M
$45.4K 0.01%
+3,300
New +$42.8K
CAEP
147
DELISTED
Cantor Equity Partners III
CAEP
$41.3K 0.01%
4,000
– –
BBU
148
DELISTED
Brookfield Business Partners
BBU
$40.4K 0.01%
1,232
– –
MCY icon
149
Mercury Insurance
MCY
$6.07B
$37.3K 0.01%
440
+19
+5% +$1.4K
NWE icon
150
NorthWestern Energy
NWE
$4.43B
$37K 0.01%
+631
New +$34.8K
4 5
6
7 8

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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 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.