Q2 2026 13F · SEC CIK 1706164

PenderFund Capital Management Ltd.

Asset managerFiled 2026-08-17 for Q2 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value: $222.1M
Reported positions: 210
Top holdings a year, 3 yrs: +21.3%
Average holding period: 1.2 yrs

PenderFund Capital Management Ltd. is an asset manager that reported 210 positions worth $222.1M in its Q2 2026 13F, filed 2026-08-17. Its largest holdings were Sangoma Technologies (SANG, 7.5%), Teucrium Commodity Tr (WEAT, 6.9%), Par Technology Corp (PAR, 6.4%). A portfolio copying its top holdings returned 21.3% a year over the last 3 years, against 22.3% for the S&P 500.

PenderFund Capital Management Ltd. holdings largest 50 of 210 positions.

Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.

PenderFund Capital Management Ltd. 13F holdings
Stock	% of 13F value	Q1 2026	Shares	Share change	Reported value
SANGSangoma Technologies	7.5%	5.1%	4,386,194	+55.5%	$16.7M
WEATTeucrium Commodity Tr	6.9%	—	696,000	—	$15.3M
PARPar Technology Corp	6.4%	5.0%	812,462	+0.0%	$14.2M
CORNTeucrium Commodity Tr	6.1%	6.8%	804,300	+0.0%	$13.5M
ESPREsperion Therapeutics Inc Ne	5.5%	4.9%	3,884,508	-0.2%	$12.3M
PPLTAbrdn Platinum ETF Trust	5.1%	13.2%	800,000	+400.0%	$11.3M
TSATTelesat Corp Cl A & Cl B Shs	5.0%	6.1%	225,153	-39.3%	$11.0M
WIWWestern Ast Infl Lkd Opp & I	3.8%	4.0%	998,747	-2.4%	$8.4M
MDAMda Space Ltd	3.4%	5.1%	183,588	-57.9%	$7.6M
BMMBlue Moon Metals Inc.	3.4%	1.7%	1,176,098	+108.0%	$7.5M
EDDMorgan Stanley Emerging Mkts	1.3%	0.9%	504,800	+26.2%	$3.0M
HSLVHighlander Silver Corp	1.2%	1.6%	587,800	+0.0%	$2.8M
CARTMaplebear Inc	1.2%	1.0%	56,068	+0.1%	$2.7M
SAROStandardaero Inc	1.1%	1.0%	81,962	+0.9%	$2.5M
SOYBTeucrium Soybean Fund	1.1%	1.1%	100,000	+0.0%	$2.4M
KKRKkr & Co Inc	1.1%	1.3%	26,540	-9.5%	$2.4M
AGROAdecoagro S A	1.1%	1.7%	250,000	+0.0%	$2.4M
FLRFluor Corp Com	1.1%	1.0%	45,374	+0.5%	$2.4M
CPCanadian Pacific Kansas City	1.1%	—	27,000	—	$2.3M
DLTRDollar Tree Inc	1.0%	0.9%	18,634	+0.6%	$2.3M
GNRCGenerac Hldgs Inc	1.0%	1.0%	7,570	-30.2%	$2.2M
DECKDeckers Outdoor Corp	0.9%	1.0%	19,305	-8.0%	$1.9M
ADUSAddus Homecare Corp	0.8%	0.8%	18,497	+0.1%	$1.9M
NXENexgen Energy Limited (canada)	0.8%	1.4%	196,400	-25.3%	$1.8M
CLVTClarivate PLC	0.8%	1.3%	830,400	-25.4%	$1.8M
STNEStoneco Ltd	0.8%	0.7%	157,200	+57.2%	$1.7M
MSFTMicrosoft Corp	0.7%	0.4%	3,900	+69.6%	$1.5M
AMZNAmazon Com Inc	0.7%	—	6,100	—	$1.5M
IFFInternational Flavors&fragra	0.6%	0.6%	17,642	+0.2%	$1.4M
ISOUIsoEnergy Ltd (Pre-Reincorporation)	0.6%	0.7%	139,300	-4.1%	$1.4M
EVREvercore Inc	0.6%	0.4%	3,916	+26.3%	$1.3M
SHOPShopify Inc	0.6%	0.7%	11,200	-12.5%	$1.3M
MRVIMaravai Lifesciences Hldgs-A	0.6%	—	205,000	—	$1.3M
BNBrookfield Corp	0.6%	0.7%	29,310	-17.7%	$1.3M
CPRTCopart Inc	0.6%	—	43,900	—	$1.2M
BELFABel Fuse Inc. - Class A Common Stock	0.5%	—	4,100	—	$1.2M
AEMAgnico Eagle Mines Ltd	0.5%	—	7,302	—	$1.1M
GTLSChart Inds Inc	0.5%	0.3%	5,400	+74.2%	$1.1M
GSGoldman Sachs Group Inc	0.5%	—	1,100	—	$1.1M
ATSAts Corporation	0.5%	—	37,700	—	$1.1M
BAHBooz Allen Hamilton Hldg Cor	0.5%	0.6%	17,693	+0.4%	$1.1M
BEPBrookfield Renewable Energy	0.5%	0.5%	30,000	+0.0%	$1.0M
CVECenovus Energy Inc	0.4%	0.5%	40,000	+0.0%	$992K
APHAmphenol Corp	0.4%	0.3%	5,600	+0.0%	$987K
BTEBaytex Energy Corp	0.4%	—	242,300	—	$972K
CATCaterpillar Inc	0.4%	0.3%	900	+0.0%	$958K
HXLHexcel Corp New	0.4%	0.5%	9,121	-29.3%	$913K
WRNWestern Copper & Gold Corp	0.4%	—	401,445	—	$900K
WIAWestern Asset Inflt Lnk Inc	0.4%	0.4%	103,800	+0.0%	$843K
MKLMarkel Group Inc	0.4%	0.5%	421	-18.6%	$822K

What PenderFund Capital Management Ltd. bought and sold in Q2 2026, against Q1 2026.

New positions

Q1 2026's filing was too long to tell new positions apart.

Share counts compared with the Q1 2026 13F; a split also changes share counts. The latest filing lists more than 50 positions, so a position that left the top 50 may still be held.

How the holdings did against the S&P 500.

1 year: +12.3% /yr; S&P 500 +11.7%
3 years: +21.3% /yr; S&P 500 +22.3%
5 years: +0.9% /yr; S&P 500 +10.6%

A portfolio of the filer's 20 largest 13F positions, weighted by value, bought the trading day after each 13F was filed and held until the next one was: what copying this filer could have earned. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Reported 13F value by quarter.

13F value by quarter
Quarter	13F value	Positions
Q2 2026	$222.1M	210
Q1 2026	$216.7M	233
Q4 2025	$260.5M	199
Q3 2025	$258.6M	184
Q2 2025	$179.3M	138
Q1 2025	$321.0M	119
Q4 2024	$223.4M	114
Q3 2024	$193.3M	122
Q2 2024	$170.1M	114
Q1 2024	$197.1M	103
Q4 2023	$190.0M	98
Q3 2023	$213.6M	101

Questions about PenderFund Capital Management Ltd.'s portfolio

What stocks does PenderFund Capital Management Ltd. own?

PenderFund Capital Management Ltd.'s latest 13F, for Q2 2026 and filed Aug 17, 2026, lists 210 positions worth $222.1M. The largest are Sangoma Technologies (SANG) at 7.5%, Teucrium Commodity Tr (WEAT) at 6.9%, Par Technology Corp (PAR) at 6.4%, Teucrium Commodity Tr (CORN) at 6.1% and Esperion Therapeutics Inc Ne (ESPR) at 5.5%.

What did PenderFund Capital Management Ltd. buy last quarter?

In Q2 2026, PenderFund Capital Management Ltd. added Abrdn Platinum ETF Trust (PPLT) (+400.0% shares), Blue Moon Metals Inc. (BMM) (+108.0% shares) and Chart Inds Inc (GTLS) (+74.2% shares), compared with its Q1 2026 filing.

What did PenderFund Capital Management Ltd. sell last quarter?

In Q2 2026, PenderFund Capital Management Ltd. cut from its top 50 Equinox Gold Corp (EQX), cut from its top 50 Burford Capital Limited (BUR), cut from its top 50 Wheaton Precious Metals Corp (WPM), cut from its top 50 Danaher Corp Del (DHR), cut from its top 50 Boyd Group Services Inc (BGSI), Mda Space Ltd (MDA) (-57.9% shares), Telesat Corp Cl A & Cl B Shs (TSAT) (-39.3% shares) and Generac Hldgs Inc (GNRC) (-30.2% shares), compared with its Q1 2026 filing.

How has PenderFund Capital Management Ltd.'s portfolio performed?

A portfolio copying PenderFund Capital Management Ltd.'s 20 largest 13F holdings each quarter, from the day each filing was public, returned +21.3% a year over the last 3 years, against +22.3% for the S&P 500. Over 1 year: +12.3% against +11.7%. Over 5 years: +0.9% a year against +10.6%.

When is PenderFund Capital Management Ltd.'s next 13F filing due?

13F filings are due 45 days after each quarter ends. PenderFund Capital Management Ltd.'s filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.