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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
PPLT
1
abrdn Physical Platinum Shares ETF
PPLT
$1.81B
$38.4M 9.08%
3,122,000
+622,000
+25% +$6.09M
SANG
2
Sangoma Technologies
SANG
$138M
$20.1M 4.75%
3,237,333
-244,300
-7% -$1.33M
PAR icon
3
PAR Technology
PAR
$636M
$13.1M 3.1%
188,909
-18,000
-9% -$1.12M
BUR icon
4
Burford Capital
BUR
$914M
$10.6M 2.51%
744,713
-27,000
-3% -$353K
WIW
5
Western Asset Inflation-Linked Opportunities & Income Fund
WIW
$506M
$8.72M 2.06%
995,797
+28,941
+3% +$248K
SLV icon
6
iShares Silver Trust
SLV
$28.1B
$8.2M 1.94%
+250,000
New +$7.65M
PSLV icon
7
Sprott Physical Silver Trust
PSLV
$11.9B
$8.14M 1.93%
+665,000
New +$7.53M
FET icon
8
Forum Energy Technologies
FET
$651M
$7.35M 1.74%
377,679
– –
ESPR
9
DELISTED
Esperion Therapeutics
ESPR
$6.57M 1.56%
6,676,519
+4,676,519
+234% +$4.68M
DCBO
10
Docebo
DCBO
$494M
$4.4M 1.04%
151,920
– –
Z icon
11
Zillow
Z
$7.07B
$3.49M 0.82%
49,757
-25,190
-34% -$1.7M
MOH icon
12
Molina Healthcare
MOH
$10.3B
$3.01M 0.71%
10,115
+44
+0.4% +$13.8K
FLYY
13
DELISTED
Spirit Aviation Holdings, Inc.
FLYY
$2.89M 0.68%
+578,947
New +$3.45M
TSAT icon
14
Telesat
TSAT
$576M
$2.45M 0.58%
+100,600
New +$1.77M
CLVT icon
15
Clarivate
CLVT
$1.33B
$2.28M 0.54%
531,100
– –
STNE icon
16
StoneCo
STNE
$2.62B
$2.26M 0.54%
141,000
-9,000
-6% -$120K
MRVI icon
17
Maravai LifeSciences
MRVI
$1.01B
$2.1M 0.5%
870,200
+43,900
+5% +$92.3K
ERO icon
18
Ero Copper
ERO
$2.71B
$2.05M 0.49%
124,450
+958
+0.8% +$12.9K
KKR icon
19
KKR & Co
KKR
$88.8B
$1.96M 0.46%
14,720
+1,800
+14% +$211K
KW
20
DELISTED
Kennedy-Wilson Holdings
KW
$1.8M 0.43%
264,660
-1,177
-0.4% -$7.85K
HXL icon
21
Hexcel
HXL
$8.27B
$1.79M 0.42%
31,723
+213
+0.7% +$11.3K
BN icon
22
Brookfield
BN
$102B
$1.47M 0.35%
35,610
– –
MKL icon
23
Markel Group
MKL
$25B
$1.03M 0.24%
515
+6
+1% +$11.3K
MCHP icon
24
Microchip Technology
MCHP
$42.8B
$1.01M 0.24%
14,360
-2,900
-17% -$159K
DHR icon
25
Danaher
DHR
$135B
$928K 0.22%
+4,700
New +$911K
1
2 3 4 5

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SFG
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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.