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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
APO icon
201
Apollo Global Management
APO
$74.4B
– –
-5
Closed -$666
ATMC
202
DELISTED
AlphaTime Acquisition Corp
ATMC
– –
-181
Closed -$2.17K
AVDX
203
DELISTED
AvidXchange
AVDX
– –
-23,100
Closed -$230K
BAM icon
204
Brookfield Asset Management
BAM
$86.1B
– –
-17
Closed -$967
BAYA
205
DELISTED
Bayview Acquisition Corp
BAYA
– –
-1,678
Closed -$19.3K
BGFV
206
DELISTED
Big 5 Sporting Goods
BGFV
– –
-239,029
Closed -$344K
BTG icon
207
B2Gold
BTG
$6.21B
– –
-100,000
Closed -$494K
CCRD
208
DELISTED
CoreCard
CCRD
– –
-8,600
Closed -$232K
CCRN
209
DELISTED
Cross Country Healthcare
CCRN
– –
-10,700
Closed -$152K
COLB icon
210
Columbia Banking Systems
COLB
$8.81B
– –
-2
Closed -$51
COOP
211
DELISTED
Mr. Cooper
COOP
– –
-2,100
Closed -$443K
EDD
212
Morgan Stanley Emerging Markets Domestic Debt Fund
EDD
$386M
– –
-105,700
Closed -$567K
ETNB
213
DELISTED
89bio
ETNB
– –
-9,400
Closed -$138K
FET icon
214
Forum Energy Technologies
FET
$861M
– –
-260,079
Closed -$6.95M
GHLD
215
DELISTED
Guild Holdings
GHLD
– –
-6,200
Closed -$124K
HBI
216
DELISTED
Hanesbrands
HBI
– –
-18,900
Closed -$125K
HBM icon
217
Hudbay
HBM
$12B
– –
-25,000
Closed -$379K
HONE
218
DELISTED
HarborOne Bancorp
HONE
– –
-11,682
Closed -$159K
HSPO
219
DELISTED
Horizon Space Acquisition I Corp
HSPO
– –
-269
Closed -$3.31K
IAS
220
DELISTED
Integral Ad Science
IAS
– –
-9,100
Closed -$92.5K
INFA
221
DELISTED
Informatica
INFA
– –
-9,100
Closed -$226K
KRE icon
222
State Street SPDR S&P Regional Banking ETF
KRE
$4.65B
– –
-6,000
Closed -$380K
MOH icon
223
Molina Healthcare
MOH
$10.1B
– –
-10,183
Closed -$1.95M
MPWR icon
224
Monolithic Power Systems
MPWR
$67.9B
– –
-31
Closed -$28.5K
MRC
225
DELISTED
MRC Global
MRC
– –
-8,000
Closed -$115K
7 8
9
10 11

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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.