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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
DBRG icon
151
DigitalBridge
DBRG
$2.95B
$34.3K 0.01%
2,930
+450
+18% +$5.03K
VRSN icon
152
VeriSign
VRSN
$26.6B
$34.1K 0.01%
122
+15
+14% +$4.19K
ADUS icon
153
Addus HomeCare
ADUS
$2.23B
$34K 0.01%
288
– –
G icon
154
Genpact
G
$5.81B
$34K 0.01%
811
– –
ITRI icon
155
Itron
ITRI
$4.54B
$33K 0.01%
265
+5
+2% +$636
PGRE
156
DELISTED
Paramount Group
PGRE
$32.7K 0.01%
+5,000
New +$33.2K
RMBS icon
157
Rambus
RMBS
$11B
$31.8K 0.01%
305
-296
-49% -$22.8K
EL icon
158
Estee Lauder
EL
$32B
$31.3K 0.01%
355
-85
-19% -$7.57K
FLR icon
159
Fluor
FLR
$7.96B
$31.1K 0.01%
740
+64
+9% +$2.94K
EEFT icon
160
Euronet Worldwide
EEFT
$2.7B
$30.4K 0.01%
346
– –
DLTR icon
161
Dollar Tree
DLTR
$25.2B
$29.3K ﹤0.01%
310
-60
-16% -$6.42K
MPWR icon
162
Monolithic Power Systems
MPWR
$68.9B
$28.5K ﹤0.01%
31
+3
+11% +$2.43K
MOD icon
163
Modine Manufacturing
MOD
$10.4B
$28.4K ﹤0.01%
200
-63
-24% -$8.02K
AR icon
164
Antero Resources
AR
$10.7B
$26.8K ﹤0.01%
800
+137
+21% +$4.57K
OTGAU
165
OTG Acquisition Corp I Unit
OTGAU
$25.2K ﹤0.01%
+2,500
New +$25.1K
COO icon
166
Cooper Companies
COO
$14.5B
$20.6K ﹤0.01%
300
-106
-26% -$7.51K
VCICW
167
DELISTED
Vine Hill Capital Investment Corp Warrant
VCICW
$20K ﹤0.01%
12,500
– –
BAYA
168
DELISTED
Bayview Acquisition Corp
BAYA
$19.3K ﹤0.01%
+1,678
New +$18.7K
BKHA
169
Black Hawk Acquisition Corp
BKHA
$48.9M
$10.8K ﹤0.01%
967
– –
HCMAU
170
HCM III Acquisition Corp Units
HCMAU
$231M
$10.3K ﹤0.01%
+1,000
New +$10.2K
BCE icon
171
BCE
BCE
$21.2B
$8.22K ﹤0.01%
+352
New +$8.48K
LPAAW
172
Launch One Acquisition Corp Warrant
LPAAW
$1.73M
$7.2K ﹤0.01%
30,000
– –
SIMAW
173
SIM Acquisition Corp I Warrant
SIMAW
$2.42M
$4.75K ﹤0.01%
12,500
– –
HSPO
174
DELISTED
Horizon Space Acquisition I Corp
HSPO
$3.31K ﹤0.01%
269
+217
+417% +$2.64K
INCR
175
Intercure
INCR
$58M
$3.24K ﹤0.01%
+1,977
New +$3.08K
5 6
7
8 9

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BPC
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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 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.