PenderFund Capital Management Ltd.
CIK: 0001706164Latest portfolio: $634.7M · Q4 2025
Holdings
219
Total Value
$634.7M
New Positions
70
Closed Positions
54
Top Holdings
View All 219 Holdings →| # | Stock | Shares | Value | % Portfolio | Change | Type |
|---|---|---|---|---|---|---|
| 1 | AGCN 0.375 01/15/27FIRST MAJESTIC SILVER CORP | 44,040,000 | $54.6M | 8.60% | — | |
| 2 | PPLTABRDN PLATINUM ETF TRUST | 242,000 | $45.1M | 7.11% | -60,000 | |
| 3 | EQXEQUINOX GOLD CORP | 2,596,154 | $36.5M | 5.75% | -1,250,000 | |
| 4 | FLNC 2.25 06/15/30FLUENCE ENERGY INC | 28,000,000 | $34.0M | 5.36% | NEW | |
| 5 | DUK 4.125 04/15/26DUKE ENERGY CORP NEW | 32,000,000 | $33.3M | 5.24% | — | |
| 6 | SO 4.5 06/15/27SOUTHERN CO | 30,000,000 | $32.1M | 5.07% | +10.0M | |
| 7 | EQXCN 4.75 10/15/28EQUINOX GOLD CORP | 12,077,000 | $28.5M | 4.50% | — | |
| 8 | SSRMCN 2.5 04/01/39SSR MINING IN | 19,737,000 | $25.9M | 4.08% | — | |
| 9 | NIO 3.875 10/15/29NIO INC | 25,270,000 | $24.1M | 3.79% | +10.0M | |
| 10 | PPL 2.875 03/15/28PPL CAP FDG INC | 19,000,000 | $21.0M | 3.31% | +10.0M | |
| 11 | NIO 4.625 10/15/30NIO INC | 22,150,000 | $19.8M | 3.12% | +15.0M | |
| 12 | NOG 3.625 04/15/29NORTHERN OIL & GAS INC | 20,000,000 | $19.5M | 3.07% | +15.0M | |
| 13 | CDLX 4.25 04/01/29CARDLYTICS INC | 47,710,000 | $19.4M | 3.05% | +20.1M | |
| 14 | ESPRESPERION THERAPEUTICS INC NE | 4,391,926 | $16.3M | 2.56% | -2,284,593 | |
| 15 | SLVISHARES SILVER TR | 247,500 | $15.9M | 2.51% | -2,500 | |
| 16 | TSATTELESAT CORP | 409,753 | $15.9M | 2.51% | — | |
| 17 | PARPAR TECHNOLOGY CORP | 417,666 | $15.2M | 2.39% | +45K | |
| 18 | STCSANGOMA TECHNOLOGIES CORP | 2,821,433 | $14.2M | 2.23% | — | |
| 19 | MGNI 0.25 03/15/26MAGNITE INC | 14,225,000 | $14.1M | 2.22% | — | |
| 20 | PSLV/USPROTT ASSET MANAGEMENT LP | 565,000 | $13.4M | 2.11% | -100,000 | |
| 21 | WOLF 2.5 06/15/31WOLFSPEED INC | 8,125,060 | $12.1M | 1.90% | NEW | |
| 22 | OPK 3.75 01/15/29OPKO HEALTH INC | 7,311,000 | $9.6M | 1.51% | — | |
| 23 | WIWWESTERN AST INFL LKD OPP & I | 1,015,397 | $8.7M | 1.37% | +9K | |
| 24 | TXNM 5.75 06/01/54TXNM ENERGY INC | 5,900,000 | $8.0M | 1.25% | — | |
| 25 | EVH 3.5 12/01/29EVOLENT HEALTH INC | 8,769,000 | $5.9M | 0.94% | +5.8M |
Quarterly Changes
New Positions
Closed Positions
- PDD 0 12/01/25CLOSED$18.4B
- BYND 0 03/15/27CLOSED$16.9B
- WOLF 1.75 05/01/26CLOSED$15.1B
- WOLF 1.875 12/01/29CLOSED$14.5B
- WEATUSDCLOSED$14.3B
- WOLF 0.25 02/15/28CLOSED$10.6B
- FETCLOSED$6.9B
- ESPR 4 11/15/25CLOSED$3.0B
- MOHCLOSED$1.9B
- EDDCLOSED$566.6M
Increased Positions
| Name | Shares | Change |
|---|---|---|
| CDLX 4.25 04/01/29 | 47.7M | +20.1M |
| SO 4.5 06/15/27 | 30.0M | +10.0M |
| NIO 3.875 10/15/29 | 25.3M | +10.0M |
| EVH 3.5 12/01/29 | 8.8M | +5.8M |
| CLVT | 521K | +389K |
| NXE | 257K | +98K |
| 75Z | 99K | +56K |
| PAR | 418K | +45K |
| CVE | 40K | +30K |
| CIO | 59K | +17K |
Sector Breakdown
Financial Services0.0% ($1.4163444225162382e+187T)
Unknown0.0% ($5.457333997332824e+151T)
Technology0.0% ($4.511615943159402e+99T)
Healthcare0.0% ($1.625019751075716e+33T)
Industrials0.0% ($2.344231417885505e+25T)
Basic Materials0.0% ($3648628262305618944.0T)
Consumer Cyclical0.0% ($199179723121815.4T)
Real Estate0.0% ($42739.7T)
Utilities0.0% ($810.6T)
Communication Services0.0% ($668.5T)
Consumer Defensive0.0% ($22.8T)
Energy0.0% ($236.4B)
Filing History
Fund Information
PenderFund Capital Management Ltd. is an institutional investment manager that files 13F reports with the SEC. As of the Q4 2025 filing, the fund reported a portfolio valued at $634.7M across 219 holdings. The largest position is FIRST MAJESTIC SILVER CORP (AGCN 0.375 01/15/27), representing 8.6% of the portfolio. Compared to the previous quarter, the fund opened 97 new positions and closed 85 positions. 13F filings are required quarterly disclosures that provide transparency into the holdings of institutional investment managers with at least $100 million in qualifying assets.