13F HOLDINGS REPORT
PenderFund Capital Management Ltd.
Quarter ended Q2 2025 · Filed August 14, 2025 · Accession 0001706164-25-000003
Total Value
$422.5M
Positions
159
Other Managers
0
Confidential Omitted
No
Holdings (159)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | FIRST MAJESTIC SILVER COR | AG | 43,340,000 | $41.6M | 9.84% |
| 2 | ABRDN PLATINUM ETF TRUST | PPLT | 312,200 | $38.4M | 9.08% |
| 3 | DUKE ENERGY CORP NEW | DUKB | 22,000,000 | $23.5M | 5.56% |
| 4 | SSR MINING IN | SSRGF | 21,987,000 | $22.7M | 5.38% |
| 5 | SANGOMA TECHNOLOGIES CORP | SANG | 3,237,333 | $20.1M | 4.75% |
| 6 | PDD HOLDINGS INC | PDD | 18,500,000 | $18.0M | 4.27% |
| 7 | EQUINOX GOLD CORP | EQX | 12,077,000 | $14.7M | 3.47% |
| 8 | CARDLYTICS INC | CDLX | 34,610,000 | $14.3M | 3.39% |
| 9 | MAGNITE INC | MGNI | 14,225,000 | $13.8M | 3.26% |
| 10 | PAR TECHNOLOGY CORP | PAR | 188,909 | $13.1M | 3.10% |
| 11 | NIO INC | NIOIF | 16,770,000 | $12.1M | 2.86% |
| 12 | SOUTHERN CO | SOMN | 10,000,000 | $11.1M | 2.62% |
| 13 | NIO INC | NIOIF | 17,150,000 | $11.0M | 2.61% |
| 14 | BURFORD CAP LTD | BUR | 744,713 | $10.6M | 2.51% |
| 15 | OPKO HEALTH INC | OPK | 7,311,000 | $10.0M | 2.36% |
| 16 | PPL CAP FDG INC | PPLC | 9,000,000 | $9.8M | 2.32% |
| 17 | WESTERN AST INFL LKD OPP & I | 95766R104 | 995,797 | $8.7M | 2.06% |
| 18 | ISHARES SILVER TR | SLV | 250,000 | $8.2M | 1.94% |
| 19 | SPROTT PHYSICAL SILVER TR | SII | 665,000 | $8.1M | 1.93% |
| 20 | BEYOND MEAT INC | BYND | 93,792,000 | $7.9M | 1.88% |
| 21 | TXNM ENERGY INC | TXNM | 5,900,000 | $7.7M | 1.82% |
| 22 | FORUM ENERGY TECHNOLOGIES IN | FET | 377,679 | $7.4M | 1.74% |
| 23 | WOLFSPEED INC | WOLF | 25,329,000 | $6.6M | 1.56% |
| 24 | ESPERION THERAPEUTICS INC NE COM | ESPR | 6,676,519 | $6.6M | 1.56% |
| 25 | AIRBNB INC | ABNB | 5,000,000 | $4.8M | 1.14% |
| 26 | DOCEBO INC | DCBO | 151,920 | $4.4M | 1.04% |
| 27 | CARDLYTICS INC | CDLX | 4,518,000 | $4.4M | 1.04% |
| 28 | ZILLOW GROUP INC | Z | 49,757 | $3.5M | 0.82% |
| 29 | WOLFSPEED INC | WOLF | 12,500,000 | $3.2M | 0.77% |
| 30 | MOLINA HEALTHCARE INC | MOH | 10,115 | $3.0M | 0.71% |
| 31 | ESPERION THERAPEUTICS INC NE | ESPR | 3,000,000 | $3.0M | 0.70% |
| 32 | SPIRIT AVIATION HLDGS INC | FLYYQ | 578,947 | $2.9M | 0.68% |
| 33 | WOLFSPEED INC | WOLF | 10,000,000 | $2.6M | 0.61% |
| 34 | TELESAT CORP | TSAT | 100,600 | $2.4M | 0.58% |
| 35 | CLARIVATE PLC | CLVT | 531,100 | $2.3M | 0.54% |
| 36 | STONECO LTD | STNE | 141,000 | $2.3M | 0.54% |
| 37 | MARAVAI LIFESCIENCES HLDGS I | MARA | 870,200 | $2.1M | 0.50% |
| 38 | ERO COPPER CORP | ERO | 124,450 | $2.1M | 0.49% |
| 39 | KKR & CO INC | KKRT | 14,720 | $2.0M | 0.46% |
| 40 | KENNEDY-WILSON HOLDINGS IN | KW | 264,660 | $1.8M | 0.43% |
| 41 | HEXCEL CORP NEW | 428291108 | 31,723 | $1.8M | 0.42% |
| 42 | BROOKFIELD CORP | 11271J107 | 23,740 | $1.5M | 0.35% |
| 43 | MARKEL GROUP INC | MKL | 515 | $1.0M | 0.24% |
| 44 | MICROCHIP TECHNOLOGY INC. | MCHPP | 14,360 | $1.0M | 0.24% |
| 45 | DANAHER CORPORATION | 235851102 | 4,700 | $928,438 | 0.22% |
| 46 | LITHIA MTRS INC | 536797103 | 2,400 | $810,768 | 0.19% |
| 47 | JUNIPER NETWORKS INC | 48203R104 | 18,000 | $718,740 | 0.17% |
| 48 | ELEVANCE HEALTH INC | ELV | 1,800 | $700,128 | 0.17% |
| 49 | WESTERN ASST INFLTN LKD INM | 95766Q106 | 75,932 | $637,829 | 0.15% |
| 50 | LAUNCH ONE ACQUISITION CORP | LPAAW | 60,000 | $624,900 | 0.15% |
| 51 | MORGAN STANLEY EMERGING MKTS | MS-PQ | 120,332 | $616,100 | 0.15% |
| 52 | APPLIED MATLS INC | 038222105 | 3,200 | $585,824 | 0.14% |
| 53 | DUN & BRADSTREET HLDGS INC | 26484T106 | 61,600 | $559,944 | 0.13% |
| 54 | STARBUCKS CORP | SBUX | 5,930 | $543,366 | 0.13% |
| 55 | SATIXFY COMMUNICATIONS LTD | M82363124 | 174,579 | $511,516 | 0.12% |
| 56 | SKECHERS U S A INC | 830566105 | 8,000 | $504,800 | 0.12% |
| 57 | EVERI HLDGS INC | EVEX-WT | 35,400 | $504,096 | 0.12% |
| 58 | TRIUMPH GROUP INC NEW | 896818101 | 19,400 | $499,550 | 0.12% |
| 59 | AVIDXCHANGE HOLDINGS INC | 05368X102 | 50,600 | $495,374 | 0.12% |
| 60 | SPRINGWORKS THERAPEUTICS INC | 85205L107 | 10,500 | $493,395 | 0.12% |
| 61 | VIGIL NEUROSCIENCE INC | 92673K108 | 55,000 | $437,250 | 0.10% |
| 62 | AMC NETWORKS INC | 00164VAJ2 | 501,000 | $431,389 | 0.10% |
| 63 | NV5 GLOBAL INC | 62945V109 | 17,900 | $413,311 | 0.10% |
| 64 | LENSAR INC | LNSR | 30,100 | $396,417 | 0.09% |
| 65 | JABIL INC | JBL | 1,798 | $392,144 | 0.09% |
| 66 | TITAN ACQUISITION CORP | TACHW | 36,600 | $382,470 | 0.09% |
| 67 | FARO TECHNOLOGIES INC | 311642102 | 8,500 | $373,320 | 0.09% |
| 68 | INOZYME PHARMA INC | 45790W108 | 90,700 | $362,800 | 0.09% |
| 69 | GLOBAL BLUE GROUP HOLDING AG | H33700107 | 47,800 | $357,066 | 0.08% |
| 70 | ENSTAR GROUP LIMITED | G3075P101 | 1,000 | $336,360 | 0.08% |
| 71 | SOULPOWER ACQUISITION CORP | SOUL-UN | 30,051 | $320,644 | 0.08% |
| 72 | WEBSTER FINL CORP | 947890109 | 5,838 | $318,755 | 0.08% |
| 73 | SIGMATRON INTL I | 82661L101 | 103,400 | $308,132 | 0.07% |
| 74 | SERVOTRONICS INC | 817732100 | 6,500 | $305,110 | 0.07% |
| 75 | ISHARES TR | 46436E718 | 3,000 | $302,070 | 0.07% |
| 76 | RBB FD INC | 74933W452 | 6,000 | $299,970 | 0.07% |
| 77 | VANGUARD INSTL INDEX F | 922040845 | 3,900 | $294,645 | 0.07% |
| 78 | SPDR SERIES TRUST | 78468R663 | 3,200 | $293,536 | 0.07% |
| 79 | BLUEPRINT MEDICINES CORP | 09627Y109 | 2,200 | $281,996 | 0.07% |
| 80 | GMS INC | 36251C103 | 2,500 | $271,875 | 0.06% |
| 81 | SIM ACQUISITION CORP. I | SIMAW | 25,000 | $260,552 | 0.06% |
| 82 | VINE HILL CAP INVT C | G93Y09107 | 25,000 | $260,250 | 0.06% |
| 83 | THAYER VENTURES ACQ CORP II | G87890128 | 25,000 | $254,250 | 0.06% |
| 84 | SIZZLE ACQUISITION CORP. II | SZZLU | 24,448 | $248,881 | 0.06% |
| 85 | ALLETE INC | 018522300 | 3,880 | $248,592 | 0.06% |
| 86 | TXNM ENERGY INC | TXNM | 4,400 | $247,808 | 0.06% |
| 87 | BLUE WTR ACQUISITION CORP. I | G1368E122 | 24,700 | $247,124 | 0.06% |
| 88 | CARTESIAN GROWTH CORP III | CGCTW | 24,100 | $244,133 | 0.06% |
| 89 | E2OPEN PARENT HOLDINGS INC | 29788T103 | 74,900 | $241,927 | 0.06% |
| 90 | BRIDGE INVT GROUP HLDGS INC | 10806B100 | 24,100 | $241,241 | 0.06% |
| 91 | CROSS CTRY HEALTHCARE INC | 227483104 | 18,100 | $236,205 | 0.06% |
| 92 | CANTALOUPE INC | CTLPP | 20,600 | $226,394 | 0.05% |
| 93 | COPA HOLDINGS SA | CPA | 2,048 | $225,219 | 0.05% |
| 94 | EMEREN GROUP LTD | 75971T301 | 118,298 | $221,217 | 0.05% |
| 95 | HESS CORP | HESM | 1,500 | $207,810 | 0.05% |
| 96 | SPARTANNASH CO | 847215100 | 7,300 | $193,377 | 0.05% |
| 97 | INFORMATICA INC | 45674M101 | 7,800 | $189,930 | 0.04% |
| 98 | BEST SPAC I ACQUISITION CORP | BSAAU | 18,500 | $185,740 | 0.04% |
| 99 | MAC COPPER LIMITED | G60409110 | 15,000 | $181,350 | 0.04% |
| 100 | BROOKLINE BANCORP INC DEL | 11373M107 | 16,430 | $173,336 | 0.04% |
| 101 | PROASSURANCE CORP | PRA | 7,500 | $171,225 | 0.04% |
| 102 | LSI INDS INC OHIO | 50216C108 | 9,868 | $167,855 | 0.04% |
| 103 | THERATECHNOLOGIES INC | 88338H704 | 69,900 | $166,826 | 0.04% |
| 104 | CRANE HBR ACQUISITION CORP | CR | 14,700 | $154,056 | 0.04% |
| 105 | NEW PROVIDENCE ACQUISITION C | G6476A128 | 14,700 | $153,615 | 0.04% |
| 106 | FIDELITY NATIONAL FINANCIAL | FNF | 2,694 | $151,026 | 0.04% |
| 107 | STREAMLINE HEALTH SOLUTIONS | 86323X205 | 27,972 | $144,615 | 0.03% |
| 108 | ANSYS INC | 03662Q105 | 350 | $122,927 | 0.03% |
| 109 | WEN ACQUISITION CORP | WENNW | 10,000 | $106,000 | 0.03% |
| 110 | FIFTH ERA ACQUISITION CORP I | FERAU | 10,100 | $105,040 | 0.02% |
| 111 | PERIMETER ACQUISITION CORP I | PMTRW | 10,000 | $104,700 | 0.02% |
| 112 | GRAF GLOBAL CORP | GRAF-WT | 10,000 | $104,600 | 0.02% |
| 113 | LIGHTWAVE ACQUISITION CORP | LWACW | 10,000 | $100,500 | 0.02% |
| 114 | VERVE THERAPEUTICS INC | 92539P101 | 8,800 | $98,824 | 0.02% |
| 115 | COUCHBASE INC | 22207T101 | 4,000 | $97,520 | 0.02% |
| 116 | ISOENERGY LTD | ISOU | 13,100 | $93,314 | 0.02% |
| 117 | NEXGEN ENERGY LTD | NXE | 11,600 | $80,585 | 0.02% |
| 118 | SAGE THERAPEUTICS INC | 78667J108 | 8,300 | $75,696 | 0.02% |
| 119 | ELEVATION ONCOLOGY INC | 28623U101 | 195,700 | $71,841 | 0.02% |
| 120 | SITIO ROYALTIES CORP | 82983N108 | 3,900 | $71,682 | 0.02% |
| 121 | JFROG LTD | FROG | 1,500 | $65,820 | 0.02% |
| 122 | PROFOUND MED CORP | PROF | 9,400 | $55,913 | 0.01% |
| 123 | REPUBLIC DIGITAL ACQUISITION | RDAGW | 5,000 | $52,900 | 0.01% |
| 124 | INFLECTION PT ACQUISITION CO | G47875128 | 5,000 | $52,550 | 0.01% |
| 125 | VOYAGER ACQUISITION CORP | G93A7H104 | 5,000 | $51,850 | 0.01% |
| 126 | FIGX CAP ACQUISITION CORP. | G3473K126 | 5,000 | $50,075 | 0.01% |
| 127 | PIONEER ACQUISITION I CORP | PACHW | 5,000 | $50,050 | 0.01% |
| 128 | OXLEY BRIDGE ACQ LTD | OBAWW | 5,000 | $50,050 | 0.01% |
| 129 | CANTOR EQUITY PARTNERS III I | G1828A108 | 4,000 | $42,200 | 0.01% |
| 130 | GITLAB INC | GTLB | 900 | $40,599 | 0.01% |
| 131 | GEN DIGITAL INC | GENVR | 4,800 | $39,168 | 0.01% |
| 132 | RAMBUS INC DEL | RMBS | 601 | $38,476 | 0.01% |
| 133 | DOLLAR TREE INC | DLTR | 370 | $36,645 | 0.01% |
| 134 | GENPACT LIMITED | G | 811 | $35,692 | 0.01% |
| 135 | LAUDER ESTEE COS INC | 518439104 | 440 | $35,552 | 0.01% |
| 136 | EURONET WORLDWIDE INC | EEFT | 346 | $35,077 | 0.01% |
| 137 | FLUOR CORP NEW | FLR | 676 | $34,659 | 0.01% |
| 138 | ITRON INC | ITRI | 260 | $34,224 | 0.01% |
| 139 | ADDUS HOMECARE CORP | ADUS | 288 | $33,175 | 0.01% |
| 140 | BROOKFIELD BUSINESS PARTNERS | BBUC | 1,232 | $31,990 | 0.01% |
| 141 | VERISIGN INC | VRSN | 107 | $30,902 | 0.01% |
| 142 | COOPER COS INC | 216648501 | 406 | $28,891 | 0.01% |
| 143 | MERCURY GENL CORP NEW | 589400100 | 421 | $28,350 | 0.01% |
| 144 | ANTERO RESOURCES CORP | AR | 663 | $26,706 | 0.01% |
| 145 | MODINE MFG C | 607828100 | 263 | $25,906 | 0.01% |
| 146 | DIGITALBRIDGE GROUP INC | DBRG-PJ | 2,480 | $25,668 | 0.01% |
| 147 | DECKERS OUTDOOR CORP | DECK | 248 | $25,561 | 0.01% |
| 148 | MONOLITHIC PWR SYS INC | 609839105 | 28 | $20,479 | 0.00% |
| 149 | M/I HOMES INC | MHO | 140 | $15,697 | 0.00% |
| 150 | BLACK HAWK ACQUISITION CORP | BKHAU | 967 | $10,279 | 0.00% |
| 151 | LAUNCH ONE ACQUISITION CORP | LPAAW | 30,000 | $8,400 | 0.00% |
| 152 | VINE HILL CAP INVT CORP. | G93Y09115 | 12,500 | $3,670 | 0.00% |
| 153 | SIM ACQUISITION CORP. | SIMAW | 12,500 | $3,437 | 0.00% |
| 154 | TEXAS VENTURES ACQUISITION I | G8772L121 | 191 | $1,962 | 0.00% |
| 155 | GRAF GLOBAL CORP | GRAF-WT | 5,000 | $1,425 | 0.00% |
| 156 | VOYAGER ACQUISITION CORP | G93A7H112 | 2,500 | $750 | 0.00% |
| 157 | HORIZON SPACE ACQUSTN I CORP | G4619M109 | 52 | $632 | 0.00% |
| 158 | WESTERN ASSET EMERGING MKTS | 95766A101 | 28 | $281 | 0.00% |
| 159 | LANVIN GROUP HOLDINGS LIMITE | LANV-WT | 2,500 | $47 | 0.00% |