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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
NPAC
126
New Providence Acquisition Corp III
NPAC
$400M
$141K 0.02%
+13,765
New +$141K
MOFG
127
DELISTED
MidWestOne Financial Group
MOFG
$127K 0.02%
+3,305
New +$120K
HOUS
128
DELISTED
Anywhere Real Estate
HOUS
$120K 0.02%
8,500
+3,000
+55% +$36.8K
BSAA
129
BEST SPAC I Acquisition Corp
BSAA
$85.2M
$120K 0.02%
+11,800
New +$119K
MSOS icon
130
AdvisorShares Pure US Cannabis ETF
MSOS
$880M
$109K 0.02%
23,100
+9,600
+71% +$42.8K
TONT
131
Graf Global Corp
TONT
$153M
$108K 0.02%
10,000
– –
RDAG
132
Republic Digital Acquisition Co
RDAG
$389M
$107K 0.02%
+10,600
New +$109K
MBVIU
133
M3-Brigade Acquisition VI Corp Units
MBVIU
$105K 0.02%
10,387
– –
AHL
134
DELISTED
Aspen Insurance
AHL
$104K 0.02%
2,800
+900
+47% +$33.2K
FERA
135
Fifth Era Acquisition Corp I
FERA
$327M
$104K 0.02%
+10,100
New +$104K
CEPF
136
Cantor Equity Partners IV
CEPF
$594M
$103K 0.02%
10,000
– –
FRGE
137
DELISTED
Forge Global Holdings
FRGE
$102K 0.02%
+2,300
New +$77.7K
LWAC
138
LightWave Acquisition Corp
LWAC
$102K 0.02%
+10,196
New +$102K
BLZRU
139
Trailblazer Acquisition Corp Unit
BLZRU
$205M
$102K 0.02%
10,000
– –
LATAU
140
Galata Acquisition Corp. II Units
LATAU
$101K 0.02%
10,000
– –
CHECU
141
Chenghe Acquisition III Co Units
CHECU
$101K 0.02%
10,000
– –
ITHAU
142
ITHAX Acquisition Corp III Units
ITHAU
$99.6K 0.02%
+10,000
New +$99.6K
AMWD
143
DELISTED
American Woodmark
AMWD
$97K 0.02%
1,800
– –
FROG icon
144
JFrog
FROG
$10.8B
$93.7K 0.01%
1,500
– –
OBA
145
Oxley Bridge Acquisition Ltd
OBA
$325M
$91.5K 0.01%
+9,100
New +$91.3K
FIGX
146
FIGX Capital Acquisition Corp
FIGX
$199M
$90.5K 0.01%
+9,000
New +$90.6K
TGNA
147
DELISTED
TEGNA Inc
TGNA
$87.3K 0.01%
4,500
+1,600
+55% +$31.6K
VACH
148
DELISTED
Voyager Acquisition Corp
VACH
$84.3K 0.01%
7,900
+2,900
+58% +$30.5K
ONL
149
Orion Office REIT
ONL
$160M
$83.6K 0.01%
37,000
– –
PMTR
150
Perimeter Acquisition Corp I
PMTR
$321M
$82.2K 0.01%
+8,000
New +$82.5K
4 5
6
7 8

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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.