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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
+7.45%
1 Year Est. Return
+31.05%
3 Year Est. Return
+130.01%
5 Year Est. Return
+118.66%
10 Year Est. Return
–
AUM
$423M
AUM Growth
+$55.5M
Cap. Flow
-$77.2M
Cap. Flow %
-18.26%
Top 10 Hldgs %
52.09%
Holding
206
New
65
Increased
35
Reduced
11
Closed
47

Top Buys

Rank Stock Value
1
SLV icon
iShares Silver Trust
SLV
+$7.65M
2
PSLV icon
Sprott Physical Silver Trust
PSLV
+$7.53M
3
PPLT
abrdn Physical Platinum Shares ETF
PPLT
+$6.09M
4
ESPR
Esperion Therapeutics
ESPR
+$4.68M
5
FLYY
Spirit Aviation Holdings, Inc.
FLYY
+$3.45M

Top Sells

Rank Stock Value
1
IMSRW
Terrestrial Energy Warrant
IMSRW
+$24.3M
2
TBNK
Territorial Bancorp Inc.
TBNK
+$22.6M
3
PTVE
Pactiv Evergreen Inc. Common stock
PTVE
+$12.5M
4
AGS
PlayAGS
AGS
+$11.8M
5
NEUE
NeueHealth
NEUE
+$4.04M

Sector Composition

Rank Sector Weight
1 Technology 12.04%
2 Financials 4.36%
3 Healthcare 3.83%
4 Energy 1.85%
5 Industrials 1.53%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NOC icon
151
Northrop Grumman
NOC
$79.2B
– –
-1,400
Closed -$415K
OPTN
152
DELISTED
OptiNose
OPTN
– –
-18,800
Closed -$576K
PLYA
153
DELISTED
Playa Hotels & Resorts
PLYA
– –
-35,400
Closed -$717K
RDFN
154
DELISTED
Redfin
RDFN
– –
-19,698
Closed -$547K
TDW icon
155
Tidewater
TDW
$3.85B
– –
-303
Closed -$334K
TSVT
156
DELISTED
2seventy bio
TSVT
– –
-71,600
Closed -$17.1K
UNF icon
157
Unifirst Corp
UNF
$5.24B
– –
-400
Closed -$252K
VTS icon
158
Vitesse Energy
VTS
$659M
– –
-2
Closed –
XPEL icon
159
XPEL
XPEL
$1.39B
– –
-302
Closed -$8.87K
NEUE
160
DELISTED
NeueHealth
NEUE
– –
-29,115
Closed -$4.04M
CEP
161
DELISTED
Cantor Equity Partners
CEP
– –
-10,000
Closed -$395
IMSR
162
Terrestrial Energy
IMSR
$567M
– –
-30,000
Closed -$296K
IMSRW
163
Terrestrial Energy Warrant
IMSRW
$28.8M
– –
-15,000
Closed -$24.3M
CEPO
164
Cantor Equity Partners I
CEPO
$272M
– –
-10,000
Closed -$50.9K
USARW
165
DELISTED
USA Rare Earth Inc Warrant
USARW
– –
-12,499
Closed -$189K
BERY
166
DELISTED
Berry Global Group, Inc.
BERY
– –
-5,100
Closed -$613K
BECN
167
DELISTED
Beacon Roofing Supply, Inc.
BECN
– –
-1,500
Closed -$107K
ENFN
168
DELISTED
Enfusion, Inc.
ENFN
– –
-37,400
Closed -$49.8K
FNA
169
DELISTED
Paragon 28, Inc.
FNA
– –
-41,900
Closed -$376K
CMRX
170
DELISTED
Chimerix, Inc.
CMRX
– –
-4,078
Closed -$48K
PDCO
171
DELISTED
Patterson Companies, Inc.
PDCO
– –
-15,011
Closed -$74.8K
AMPS
172
DELISTED
Altus Power
AMPS
– –
-45,500
Closed -$20K
PYCR
173
DELISTED
Paycor HCM, Inc. Common Stock
PYCR
– –
-13,500
Closed -$472K
ATSG
174
DELISTED
Air Transport Services Group
ATSG
– –
-20,100
Closed -$345K
ACCD
175
DELISTED
Accolade Inc
ACCD
– –
-62,700
Closed -$2.09M
4 5 6
7
8

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BPC
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BIA
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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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PenderFund Capital Management's Q2 2025 Portfolio in Review

As of Q2 2025, PenderFund Capital Management held 206 positions worth $423M, up 15% from $367M the previous quarter. Its ten largest holdings account for 52% of the portfolio.

PenderFund Capital Management withdrew a net $77.2M in Q2 2025, closing 47 positions and reducing 11 holdings. Its most notable exit was Terrestrial Energy Warrant, an estimated $24.3M position sold in full.

By sector, the portfolio is most concentrated in Technology at 12% of assets, down from 19% a quarter earlier, followed by Financials and Healthcare.

Against the trend, PenderFund Capital Management opened a new position in iShares Silver Trust worth $8.2M.

  • PenderFund Capital Management's largest Q2 2025 buy was iShares Silver Trust: 250,000 shares worth $8.2M.
  • PenderFund Capital Management added most to abrdn Physical Platinum Shares ETF in Q2 2025, an estimated $6.09M increase.
  • PenderFund Capital Management's biggest Q2 2025 reduction was Zillow, cutting an estimated $1.7M.
  • PenderFund Capital Management fully exited Terrestrial Energy Warrant in Q2 2025, selling an estimated $24.3M.
  • PenderFund Capital Management's ten largest holdings make up 52% of its $423M portfolio in Q2 2025.
  • PenderFund Capital Management opened 65 new positions and closed 47 in Q2 2025.
  • PenderFund Capital Management's portfolio value rose 15% quarter-over-quarter to $423M.

Based on PenderFund Capital Management's 13F filing for Q2 2025, filed 14 Aug 2025.