PenderFund Capital Management Ltd. Q2 2025 Filing
Filed August 14, 2025
Portfolio Value
$422.5M
Holdings
159
Report Date
Q2 2025
Filing Type
13F-HR
All Holdings (159 positions)
| # | Stock | Shares | Value | % Portfolio | Type |
|---|---|---|---|---|---|
| 1 | AGCN 0.375 01/15/27FIRST MAJESTIC SILVER COR | 43,340,000 | $41.6M | 9.84% | |
| 2 | PPLTABRDN PLATINUM ETF TRUST | 312,200 | $38.4M | 9.08% | |
| 3 | DUK 4.125 04/15/26DUKE ENERGY CORP NEW | 22,000,000 | $23.5M | 5.56% | |
| 4 | SSRMCN 2.5 04/01/39SSR MINING IN | 21,987,000 | $22.7M | 5.38% | |
| 5 | STCSANGOMA TECHNOLOGIES CORP | 3,237,333 | $20.1M | 4.75% | |
| 6 | PDD 0 12/01/25PDD HOLDINGS INC | 18,500,000 | $18.0M | 4.27% | |
| 7 | EQXCN 4.75 10/15/28EQUINOX GOLD CORP | 12,077,000 | $14.7M | 3.47% | |
| 8 | CDLX 4.25 04/01/29CARDLYTICS INC | 34,610,000 | $14.3M | 3.39% | |
| 9 | MGNI 0.25 03/15/26MAGNITE INC | 14,225,000 | $13.8M | 3.26% | |
| 10 | PARPAR TECHNOLOGY CORP | 188,909 | $13.1M | 3.10% | |
| 11 | NIO 3.875 10/15/29NIO INC | 16,770,000 | $12.1M | 2.86% | |
| 12 | SO 4.5 06/15/27SOUTHERN CO | 10,000,000 | $11.1M | 2.62% | |
| 13 | NIO 4.625 10/15/30NIO INC | 17,150,000 | $11.0M | 2.61% | |
| 14 | BURBURFORD CAP LTD | 744,713 | $10.6M | 2.51% | |
| 15 | OPK 3.75 01/15/29OPKO HEALTH INC | 7,311,000 | $10.0M | 2.36% | |
| 16 | PPL 2.875 03/15/28PPL CAP FDG INC | 9,000,000 | $9.8M | 2.32% | |
| 17 | WIWWESTERN AST INFL LKD OPP & I | 995,797 | $8.7M | 2.06% | |
| 18 | SLVISHARES SILVER TR | 250,000 | $8.2M | 1.94% | |
| 19 | PSLV/USPROTT PHYSICAL SILVER TR | 665,000 | $8.1M | 1.93% | |
| 20 | BYND 0 03/15/27BEYOND MEAT INC | 93,792,000 | $7.9M | 1.88% | |
| 21 | TXNM 5.75 06/01/54TXNM ENERGY INC | 5,900,000 | $7.7M | 1.82% | |
| 22 | FETFORUM ENERGY TECHNOLOGIES IN | 377,679 | $7.4M | 1.74% | |
| 23 | WOLF 1.75 05/01/26WOLFSPEED INC | 25,329,000 | $6.6M | 1.56% | |
| 24 | ESPRESPERION THERAPEUTICS INC NE COM | 6,676,519 | $6.6M | 1.56% | |
| 25 | ABNB 0 03/15/26AIRBNB INC | 5,000,000 | $4.8M | 1.14% | |
| 26 | DCBODOCEBO INC | 151,920 | $4.4M | 1.04% | |
| 27 | CDLX 1 09/15/25CARDLYTICS INC | 4,518,000 | $4.4M | 1.04% | |
| 28 | ZZILLOW GROUP INC | 49,757 | $3.5M | 0.82% | |
| 29 | WOLF 1.875 12/01/29WOLFSPEED INC | 12,500,000 | $3.2M | 0.77% | |
| 30 | MOHMOLINA HEALTHCARE INC | 10,115 | $3.0M | 0.71% | |
| 31 | ESPR 4 11/15/25ESPERION THERAPEUTICS INC NE | 3,000,000 | $3.0M | 0.70% | |
| 32 | FLYYQSPIRIT AVIATION HLDGS INC | 578,947 | $2.9M | 0.68% | |
| 33 | WOLF 0.25 02/15/28WOLFSPEED INC | 10,000,000 | $2.6M | 0.61% | |
| 34 | TSATTELESAT CORP | 100,600 | $2.4M | 0.58% | |
| 35 | CLVTCLARIVATE PLC | 531,100 | $2.3M | 0.54% | |
| 36 | STNESTONECO LTD | 141,000 | $2.3M | 0.54% | |
| 37 | MRVIMARAVAI LIFESCIENCES HLDGS I | 870,200 | $2.1M | 0.50% | |
| 38 | EROERO COPPER CORP | 124,450 | $2.1M | 0.49% | |
| 39 | KKRKKR & CO INC | 14,720 | $2.0M | 0.46% | |
| 40 | KWKENNEDY-WILSON HOLDINGS IN | 264,660 | $1.8M | 0.43% | |
| 41 | HXLHEXCEL CORP NEW | 31,723 | $1.8M | 0.42% | |
| 42 | BNBROOKFIELD CORP | 23,740 | $1.5M | 0.35% | |
| 43 | MKLMARKEL GROUP INC | 515 | $1.0M | 0.24% | |
| 44 | MCHPMICROCHIP TECHNOLOGY INC. | 14,360 | $1.0M | 0.24% | |
| 45 | DHRDANAHER CORPORATION | 4,700 | $928K | 0.22% | |
| 46 | LADLITHIA MTRS INC | 2,400 | $810K | 0.19% | |
| 47 | JNPJUNIPER NETWORKS INC | 18,000 | $718K | 0.17% | |
| 48 | ELVELEVANCE HEALTH INC | 1,800 | $700K | 0.17% | |
| 49 | XWIAXWESTERN ASST INFLTN LKD INM | 75,932 | $637K | 0.15% | |
| 50 | LPAALAUNCH ONE ACQUISITION CORP | 60,000 | $624K | 0.15% | |
| 51 | EDDMORGAN STANLEY EMERGING MKTS | 120,332 | $616K | 0.15% | |
| 52 | AMATAPPLIED MATLS INC | 3,200 | $585K | 0.14% | |
| 53 | DNBDUN & BRADSTREET HLDGS INC | 61,600 | $559K | 0.13% | |
| 54 | SBUXSTARBUCKS CORP | 5,930 | $543K | 0.13% | |
| 55 | —SATIXFY COMMUNICATIONS LTD | 174,579 | $511K | 0.12% | |
| 56 | SKAASKECHERS U S A INC | 8,000 | $504K | 0.12% | |
| 57 | G2CEVERI HLDGS INC | 35,400 | $504K | 0.12% | |
| 58 | TG7TRIUMPH GROUP INC NEW | 19,400 | $499K | 0.12% | |
| 59 | AVDXAVIDXCHANGE HOLDINGS INC | 50,600 | $495K | 0.12% | |
| 60 | SWTXSPRINGWORKS THERAPEUTICS INC | 10,500 | $493K | 0.12% | |
| 61 | VIGLVIGIL NEUROSCIENCE INC | 55,000 | $437K | 0.10% | |
| 62 | AMCXAMC NETWORKS INC | 501,000 | $431K | 0.10% | |
| 63 | NVEEUSDNV5 GLOBAL INC | 17,900 | $413K | 0.10% | |
| 64 | LNSRLENSAR INC | 30,100 | $396K | 0.09% | |
| 65 | JBLJABIL INC | 1,798 | $392K | 0.09% | |
| 66 | TACHTITAN ACQUISITION CORP | 36,600 | $382K | 0.09% | |
| 67 | FAROFARO TECHNOLOGIES INC | 8,500 | $373K | 0.09% | |
| 68 | INZYINOZYME PHARMA INC | 90,700 | $362K | 0.09% | |
| 69 | GBGLOBAL BLUE GROUP HOLDING AG | 47,800 | $357K | 0.08% | |
| 70 | ESGRENSTAR GROUP LIMITED | 1,000 | $336K | 0.08% | |
| 71 | SOULSOULPOWER ACQUISITION CORP | 30,051 | $320K | 0.08% | |
| 72 | WBSWEBSTER FINL CORP | 5,838 | $318K | 0.08% | |
| 73 | SG3SIGMATRON INTL I | 103,400 | $308K | 0.07% | |
| 74 | SVXSERVOTRONICS INC | 6,500 | $305K | 0.07% | |
| 75 | SGOVISHARES TR | 3,000 | $302K | 0.07% | |
| 76 | TBILRBB FD INC | 6,000 | $299K | 0.07% | |
| 77 | VBILVANGUARD INSTL INDEX F | 3,900 | $294K | 0.07% | |
| 78 | BILSPDR SERIES TRUST | 3,200 | $293K | 0.07% | |
| 79 | 2L9BLUEPRINT MEDICINES CORP | 2,200 | $281K | 0.07% | |
| 80 | GMS1EURGMS INC | 2,500 | $271K | 0.06% | |
| 81 | VCICVINE HILL CAP INVT C | 25,000 | $260K | 0.06% | |
| 82 | SIMASIM ACQUISITION CORP. I | 25,000 | $260K | 0.06% | |
| 83 | TVAITHAYER VENTURES ACQ CORP II | 25,000 | $254K | 0.06% | |
| 84 | AEBAALLETE INC | 3,880 | $248K | 0.06% | |
| 85 | SZZLSIZZLE ACQUISITION CORP. II | 24,448 | $248K | 0.06% | |
| 86 | TXNMTXNM ENERGY INC | 4,400 | $247K | 0.06% | |
| 87 | —BLUE WTR ACQUISITION CORP. I | 24,700 | $247K | 0.06% | |
| 88 | CGCTCARTESIAN GROWTH CORP III | 24,100 | $244K | 0.06% | |
| 89 | 53SBRIDGE INVT GROUP HLDGS INC | 24,100 | $241K | 0.06% | |
| 90 | ETWOGBPE2OPEN PARENT HOLDINGS INC | 74,900 | $241K | 0.06% | |
| 91 | XXYCROSS CTRY HEALTHCARE INC | 18,100 | $236K | 0.06% | |
| 92 | CTLPCANTALOUPE INC | 20,600 | $226K | 0.05% | |
| 93 | CPACOPA HOLDINGS SA | 2,048 | $225K | 0.05% | |
| 94 | VQKAEMEREN GROUP LTD | 118,298 | $221K | 0.05% | |
| 95 | HESHESS CORP | 1,500 | $207K | 0.05% | |
| 96 | SRJSPARTANNASH CO | 7,300 | $193K | 0.05% | |
| 97 | INFA1EURINFORMATICA INC | 7,800 | $189K | 0.04% | |
| 98 | BSAABEST SPAC I ACQUISITION CORP | 18,500 | $185K | 0.04% | |
| 99 | —MAC COPPER LIMITED | 15,000 | $181K | 0.04% | |
| 100 | BB3BROOKLINE BANCORP INC DEL | 16,430 | $173K | 0.04% |
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