Fund HoldingsPenderFund Capital Management Ltd.

Total Portfolio Value
$634.67M
Total Bought
$92.12M
Total Sold
$117.09M
Net Transaction
-$24.97M
Filing Period:
Securities
SharesValue ($K)
Q3 2025
Q4 2025
Change
Q3 2025
Q4 2025
Weight (%)
Change
FIRST MAJESTIC SILVER CORP(AG)000054,5738.60%+54,573
EQUINOX GOLD CORP(EQX)000036,4875.75%+36,487
FLUENCE ENERGY INC(FLNC)000033,9975.36%+33,997
DUKE ENERGY CORP NEW(DUK)000033,2825.24%+33,282
SOUTHERN CO(SO)000032,1495.07%+32,149
EQUINOX GOLD CORP(EQX)012,077,000+12,077,000028,5464.50%+28,546
SSR MINING IN000025,9164.08%+25,916
NIO INC(NIO)000024,0833.79%+24,083
PPL CAP FDG INC(PPL)000021,0393.31%+21,039
NIO INC(NIO)000019,8223.12%+19,822
NORTHERN OIL & GAS INC(NOG)000019,5063.07%+19,506
CARDLYTICS INC000019,3583.05%+19,358
PAR TECHNOLOGY CORP000015,1532.39%+15,153
MAGNITE INC(MGNI)000014,1202.22%+14,120
WOLFSPEED INC(WOLF)08,125,060+8,125,060012,0851.90%+12,085
OPKO HEALTH INC(OPK)00009,5801.51%+9,580
TXNM ENERGY INC(TXNM)05,900,000+5,900,00007,9581.25%+7,958
EVOLENT HEALTH INC00005,9460.94%+5,946
TELESAT CORP(TSAT)409,753409,753010,51215,9402.51%+5,428
ISHARES SILVER TR(SLV)250,000247,500-2,50010,59315,9442.51%+5,351
AIRBNB INC(ABNB)00004,9600.78%+4,960
PAR TECHNOLOGY CORP05,000,000+5,000,00004,9090.77%+4,909
SPROTT ASSET MANAGEMENT LP(PSLV)665,000565,000-100,00010,44113,3622.11%+2,922
EVOLENT HEALTH INC00002,9060.46%+2,906
STANDARDAERO INC(SARO)080,700+80,70002,3140.36%+2,314
DOLLAR TREE INC(DLTR)018,530+18,53002,2790.36%+2,279
WEBSTER FINL CORP(WBS)037,838+37,83802,3820.38%+2,382
BOYD GROUP SERVICES INC(BGSI)012,500+12,50001,9910.31%+1,991
ABRDN PLATINUM ETF TRUST302,000242,000-60,00043,15045,1167.11%+1,966
ADDUS HOMECARE CORP018,400+18,40001,9760.31%+1,976
FLUOR CORP NEW(FLR)045,140+45,14001,7890.28%+1,789
CLARIVATE PLC(CLVT)0521,000+521,00001,7400.27%+1,740
KKR & CO INC(KKR)019,740+19,74002,5160.40%+2,516
BAIDU INC07,600+7,60009930.16%+993
NEXGEN ENERGY LTD(NXE)159,300256,800+97,5001,4262,3630.37%+937
CAMECO CORP(CCJ)07,300+7,30006680.11%+668
NVIDIA CORPORATION(NVDA)03,500+3,50006530.10%+653
ALLIED GOLD CORP(AAUC)027,000+27,00006190.10%+619
TALEN ENERGY CORP(TLN)01,500+1,50005620.09%+562
AMC NETWORKS INC00005210.08%+521
SOHO HOUSE & CO INC42,90098,995+56,0953808870.14%+507
CENOVUS ENERGY INC(CVE)10,00040,000+30,0001706770.11%+507
WARNER BROS DISCOVERY INC(WBD)016,800+16,80004840.08%+484
DAYFORCE INC08,300+8,30005740.09%+574
ERO COPPER CORP(ERO)119,600102,590-17,0102,3632,8260.45%+464
SIZZLE ACQUISITION CORP. II043,642+43,64204430.07%+443
AIR LEASE CORP
CL A
07,626+7,62604900.08%+490
HILLENBRAND INC013,400+13,40004250.07%+425
WOLFSPEED INC(WOLF)00004150.07%+415
EVENTBRITE INC091,800+91,80004090.06%+409
ISOENERGY LTD60,600111,600+51,0006101,0160.16%+405
SOTHERLY HOTELS INC0184,798+184,79803970.06%+397
DENNYS CORP063,500+63,50003950.06%+395
DIGITALBRIDGE GROUP INC(DBRG)027,900+27,90004280.07%+428
ALAMOS GOLD INC NEW010,000+10,00003860.06%+386
TITAN ACQUISITION CORP036,600+36,60003760.06%+376
TXNM ENERGY INC(TXNM)00003650.06%+365
THAYER VENTURES ACQ CORP II
CL A
036,000+36,00003640.06%+364
HEXCEL CORP NEW(HXL)31,72331,72301,9892,3440.37%+355
CADENCE BANK07,975+7,97503420.05%+342
SYNCHRONOSS TECHNOLOGIES INC039,000+39,00003340.05%+334
QUIPT HOME MEDICAL CORP092,629+92,62903280.05%+328
AVIDITY BIOSCIENCES INC04,500+4,50003250.05%+325
ON SEMICONDUCTOR CORP(ON)05,800+5,80003140.05%+314
TEXAS INSTRS INC(TXN)01,800+1,80003120.05%+312
SOULPOWER ACQUISITION CORP030,051+30,05103050.05%+305
D. BORAL ARC ACQ I CORP.
SHS CL A
029,400+29,40002950.05%+295
SOLARIUS CAPITAL ACQU CORP
SHS CL A
029,100+29,10002920.05%+292
HOLOGIC INC04,400+4,40003280.05%+328
BLUE FOUNDRY BANCORP
COM
021,600+21,60002680.04%+268
CSG SYS INTL INC03,500+3,50002680.04%+268
ALEXANDER & BALDWIN INC NEW012,400+12,40002560.04%+256
DIAMOND HILL INVT GROUP INC
COM NEW
01,500+1,50002540.04%+254
VINE HILL CAP INVTS CORP II
UNIT 11/25/2030
025,000+25,00002510.04%+251
GREEN DOT CORP019,500+19,50002500.04%+250
INSPIRATO INCORPORATED059,100+59,10002460.04%+246
BEL FUSE INC01,600+1,60002430.04%+243
RENATUS TACTICAL ACQUIS
SHS CL A
022,500+22,50002400.04%+240
CARTESIAN GROWTH CORP III
COM CL A
022,700+22,70002340.04%+234
BLUE WTR ACQUISITION CORP. I
ORD SHS CL A
022,500+22,50002320.04%+232
GOLDEN ENTMT INC08,500+8,50002310.04%+231
TRUECAR INC097,100+97,10002190.03%+219
SEMRUSH HLDGS INC
CL A COM
018,023+18,02302140.03%+214
COMERICA INC02,397+2,39702080.03%+208
ALGOMA STL GROUP INC050,000+50,00002060.03%+206
INTERNATIONAL FLAVORS&FRAGRA(IFF)34,17034,212+422,1032,3060.36%+203
EQV VENTURES AC CORP. II
ORD SHS CL A
020,000+20,00002010.03%+201
CIDARA THERAPEUTICS INC0900+90001990.03%+199
BRIGHTHOUSE FINL INC(BHF)02,900+2,90001880.03%+188
WEN ACQUISITION CORP017,600+17,60001780.03%+178
RANGE CAP ACQUISITION CORP I
UNIT 09/29/2030
017,320+17,32001770.03%+177
PIONEER ACQUISITION I CORP017,400+17,40001750.03%+175
PLYMOUTH INDL REIT INC08,000+8,00001750.03%+175
JAMF HLDG CORP013,300+13,30001730.03%+173
AVADEL PHARMACEUTICALS PLC08,004+8,00401720.03%+172
CLEARWATER ANALYTICS HLDGS I07,100+7,10001710.03%+171
AMICUS THERAPEUTICS INC
COM
011,900+11,90001690.03%+169
JANUS HENDERSON GROUP PLC03,500+3,50001660.03%+166
CANTALOUPE INC030,800+30,80003270.05%+327
SANGOMA TECHNOLOGIES CORP02,821,433+2,821,433014,1632.23%+14,163
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