Latest PenderFund Capital Management Ltd. Stock Portfolio

PenderFund Capital Management Ltd. Performance:

2025 Q4: 15.46%YTD: -1.82%2024: 479.63%

Performance for 2025 Q4 is 15.46%, and YTD is -1.82%, and 2024 is 479.63%.

About PenderFund Capital Management Ltd. and 13F Hedge Fund Stock Holdings

On 2026-02-17, the fund reported it's updated stock portfolio. In the 13F Holdings report, PenderFund Capital Management Ltd. reported an equity portfolio of $634.7 Millions as of 31 Dec, 2025.

The top stock holdings of PenderFund Capital Management Ltd. are PPLT, EQX, ESPR. The fund has invested 7.1% of it's portfolio in ABRDN PLATINUM ETF TRUST and 5.8% of portfolio in EQUINOX GOLD CORP.

The fund managers got completely rid off TEUCRIUM COMMODITY TR (CANE), FORUM ENERGY TECHNOLOGIES IN (FET) and MOLINA HEALTHCARE INC (MOH) stocks. They significantly reduced their stock positions in DECKERS OUTDOOR CORP (DECK), KENNEDY-WILSON HOLDINGS INC (KW) and WESTERN COPPER & GOLD CORP (WRN). PenderFund Capital Management Ltd. opened new stock positions in STANDARDAERO INC, BAIDU INC (BIDU) and CAMECO CORP (CCJ). The fund showed a lot of confidence in some stocks as they added substantially to ADDUS HOMECARE CORP (ADUS), FLUOR CORP NEW (FLR) and DOLLAR TREE INC (DLTR).

PenderFund Capital Management Ltd. Annual Return Estimates Vs S&P 500

Our best estimate is that PenderFund Capital Management Ltd. made a return of 15.46% in the last quarter. In trailing 12 months, it's portfolio return was -1.82%.

Performance
S&P 500

New Buys

Ticker	$ Bought
fluence energy inc	33,997,200
wolfspeed inc	12,085,500
par technology corp	4,908,540
standardaero inc	2,314,480
boyd group services inc	1,991,090
baidu inc	993,016
cameco corp	668,438
nvidia corporation	652,750

New stocks bought by PenderFund Capital Management Ltd.

Additions

Ticker	% Inc.
addus homecare corp	6,288
fluor corp new	6,000
dollar tree inc	5,877
digitalbridge group inc	852
air lease corp	723
webster finl corp	548
hologic inc	528
dayforce inc	492

Additions to existing portfolio by PenderFund Capital Management Ltd.

Reductions

Ticker	% Reduced
deckers outdoor corp	-91.26
kennedy-wilson holdings inc	-88.18
western copper & gold corp	-78.49
americas gold and silver cor	-74.18
launch one acquisition corp	-47.67
maravai lifesciences hldgs i	-47.48
esperion therapeutics inc ne	-34.22
burford cap ltd	-33.13

PenderFund Capital Management Ltd. reduced stake in above stock

Sold off

Ticker	$ Sold
beyond meat inc	-16,882,600
wolfspeed inc	-15,054,000
wolfspeed inc	-14,505,600
pdd holdings inc	-18,379,800
wolfspeed inc	-10,600,500
teucrium commodity tr	-14,302,800
esperion therapeutics inc ne	-3,039,330
forum energy technologies in	-6,946,710

PenderFund Capital Management Ltd. got rid off the above stocks

Sector Distribution

PenderFund Capital Management Ltd. has about 72.9% of it's holdings in Others sector.

Sector	%
Others	72.9
Technology	8.8
Healthcare	8.4
Financial Services	3.6
Industrials	2.4

Market Cap. Distribution

PenderFund Capital Management Ltd. has about 6.6% of it's portfolio invested in the large-cap and mega-cap stocks.

Category	%
UNALLOCATED	73.1
SMALL-CAP	14.7
LARGE-CAP	6.6
MID-CAP	4.2

Stocks belong to which Index?

About 15.1% of the stocks held by PenderFund Capital Management Ltd. either belong to S&P 500 or RUSSELL 2000 index.

Index	%
Others	84.9
RUSSELL 2000	11.3
S&P 500	3.8

Top 5 Winners (%)		%
PROF	profound med corp	60.6 %
SLV	ishares silver tr	51.8 %
TSAT	telesat corp	51.6 %
PSLV	sprott asset management lp	46.8 %
ERO	ero copper corp	36.7 %

Top 5 Winners ($)		$
PPLT	abrdn platinum etf trust	11.8 M
EQX	equinox gold corp	9.2 M
ESPR	esperion therapeutics inc ne	5.8 M
SLV	ishares silver tr	5.5 M
TSAT	telesat corp	5.4 M

Top 5 Losers (%)		%
INCR	intercure ltd	-44.5 %
	sim acquisition corp. i	-38.4 %
	brookfield corp	-29.2 %
ITRI	itron inc	-23.3 %
LYTS	lsi inds inc ohio	-22.4 %

Top 5 Losers ($)		$
BUR	burford cap ltd	-1.9 M
PAR	par technology corp	-1.3 M
	brookfield corp	-0.9 M
STNE	stoneco ltd	-0.4 M
	western ast infl lkd opp & i	-0.3 M

PenderFund Capital Management Ltd. Holdings Map

This heatmap illustrates the top 50 positions within the fund's portfolio.

Current Stock Holdings of PenderFund Capital Management Ltd.

PenderFund Capital Management Ltd. has 199 stocks in it's portfolio. About 29.2% of the portfolio is in top 10 stocks. BUR proved to be the most loss making stock for the portfolio. PPLT was the most profitable stock for PenderFund Capital Management Ltd. last quarter.

Last Reported on: 17 Feb, 2026

Ticker	Namesorted ascending	% Portfolio	Shares Held	$ Value	Type	% Change
ABNB	airbnb inc	0.78	5,000,000	4,960,000	unchanged	0.00

ACT	advisorshares tr	0.02	23,100	109,032	added	71.11

ADUS	addus homecare corp	0.31	18,400	1,975,980	added	6,288

AG	first majestic silver corp	8.60	44,040,000	54,573,000	unchanged	0.00

AGI	alamos gold inc new	0.06	10,000	386,143	unchanged	0.00

AGRO	adecoagro s a	0.31	250,000	1,982,500	unchanged	0.00

AL	air lease corp	0.08	7,626	489,818	added	723

ALE	allete inc	0.00	0.00	0.00	sold off	-100

ALEX	alexander & baldwin inc new	0.04	12,400	255,936	new

AMCX	amc networks inc	0.08	501,000	521,377	unchanged	0.00

AMLX	amplify etf tr	0.01	1,200	35,748	new

AMWD	american woodmark corporatio	0.01	1,800	97,020	unchanged	0.00

AR	antero resources corp	0.00	800	27,568	unchanged	0.00

ASTL	algoma stl group inc	0.03	50,000	205,821	new

AVDX	avidxchange holdings inc	0.00	0.00	0.00	sold off	-100

AZN	astrazeneca plc	0.05	3,330	306,127	unchanged	0.00

BAH	booz allen hamilton hldg cor	0.00	350	29,526	new

BAM	brookfield asset managmt ltd	0.00	0.00	0.00	sold off	-100

BBU	brookfield business partners	0.00	925	32,776	reduced	-24.92

BCE	bce inc	0.00	352	8,396	unchanged	0.00