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PenderFund Capital Management Ltd.

Q3 2025 · 13F-HR

PenderFund Capital Management Ltd.holdings as filed

Filed 2025-11-14 · accession 0001706164-25-000010

$592.7M
Reported value
207
Positions
2025-09-30
Period end
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The Brief · PenderFund Capital Management Ltd. · Q3 2025

AI · grounded in 13F

PenderFund Capital Management Ltd. established a new position in FIRST MAJESTIC SILVER CORP [[stock:AGCN 0.375 01/15/27]] valued at $47.6M. The fund also added new holdings in ABRDN PLATINUM ETF TRUST PPLT for $43.1M and EQUINOX GOLD CORP EQX for $43.1M. Additional new positions include DUKE ENERGY CORP NEW [[stock:DUK 4.125 04/15/26]] and SSR MINING IN [[stock:SSRMCN 2.5 04/01/39]].

Holdings as filed

CUSIPTickerIssuerValue% port.SharesClassVoting
32076VAD5AGCN 0.375 01/15/27FIRST MAJESTIC SILVER CORP$47.6M8.04%44,040,000CommonSOLE
003260106PPLTABRDN PLATINUM ETF TRUST$43.1M7.28%302,000CommonSOLE
29446Y502EQXEQUINOX GOLD CORP$43.1M7.27%3,846,154CommonSOLE
26441CBY0DUK 4.125 04/15/26DUKE ENERGY CORP NEW$35.0M5.90%32,000,000CommonSOLE
784730AB9SSRMCN 2.5 04/01/39SSR MINING IN$27.9M4.70%19,737,000CommonSOLE
29446YAC0EQXCN 4.75 10/15/28EQUINOX GOLD CORP$23.6M3.98%12,077,000CommonSOLE
842587DZ7SO 4.5 06/15/27SOUTHERN CO$22.5M3.80%20,000,000CommonSOLE
722304AC6PDD 0 12/01/25PDD HOLDINGS INC$18.4M3.10%18,500,000CommonSOLE
29664W105ESPRESPERION THERAPEUTICS INC NE$17.7M2.98%6,676,519CommonSOLE
08862EAB5BYND 0 03/15/27BEYOND MEAT INC$16.9M2.85%93,792,000CommonSOLE
62914VAJ5NIO 3.875 10/15/29NIO INC$16.6M2.80%15,270,000CommonSOLE
225447AD3WOLF 1.75 05/01/26WOLFSPEED INC$15.1M2.54%25,329,000CommonSOLE
698884103PARPAR TECHNOLOGY CORP$14.8M2.49%372,966CommonSOLE
14161WAD7CDLX 4.25 04/01/29CARDLYTICS INC$14.7M2.48%27,610,000CommonSOLE
977852AD4WOLF 1.875 12/01/29WOLFSPEED INC$14.5M2.45%24,451,000CommonSOLE
88166A508WEATUSDTEUCRIUM COMMODITY TR$14.3M2.41%3,480,000CommonSOLE
80100R408SANGSANGOMA TECHNOLOGIES CORP$14.0M2.36%2,821,433CommonSOLE
55955DAB6MGNI 0.25 03/15/26MAGNITE INC$13.9M2.35%14,225,000CommonSOLE
68375NAG8OPK 3.75 01/15/29OPKO HEALTH INC$11.1M1.88%7,311,000CommonSOLE
977852AB8WOLF 0.25 02/15/28WOLFSPEED INC$10.6M1.79%18,049,000CommonSOLE
46428Q109SLVISHARES SILVER TR$10.6M1.79%250,000CommonSOLE
879512309TSATTELESAT CORP$10.5M1.77%409,753CommonSOLE
85207K107PSLVSPROTT ASSET MANAGEMENT LP$10.4M1.76%665,000CommonSOLE
69352PAS2PPL 2.875 03/15/28PPL CAP FDG INC$10.3M1.74%9,000,000CommonSOLE
95766R104WIWWESTERN AST INFL LKD OPP & I$8.9M1.51%1,006,697CommonSOLE
G17977110BURBURFORD CAP LTD$8.9M1.50%744,713CommonSOLE
69349HAF4TXNM 5.75 06/01/54TXNM ENERGY INC$7.8M1.32%5,900,000CommonSOLE
62914VAK2NIO 4.625 10/15/30NIO INC$7.7M1.29%7,150,000CommonSOLE
34984V209FETFORUM ENERGY TECHNOLOGIES IN$6.9M1.17%260,079CommonSOLE
665531AJ8NOG 3.625 04/15/29NORTHERN OIL & GAS INC$5.1M0.86%5,000,000CommonSOLE
009066AB7ABNB 0 03/15/26AIRBNB INC$4.9M0.83%5,000,000CommonSOLE
30050BAJ0EVH 4.5 08/15/31EVOLENT HEALTH INC$4.0M0.68%4,000,000CommonSOLE
29664WAB1ESPR 4 11/15/25ESPERION THERAPEUTICS INC NE$3.0M0.51%3,000,000CommonSOLE
30050BAH4EVH 3.5 12/01/29EVOLENT HEALTH INC$2.5M0.41%3,000,000CommonSOLE
243537107DECKDECKERS OUTDOOR CORP$2.4M0.41%24,136CommonSOLE
296006109EROERO COPPER CORP$2.4M0.40%119,600CommonSOLE
11271J107BNBROOKFIELD CORP$2.1M0.36%30,740CommonSOLE
459506101IFFINTERNATIONAL FLAVORS&FRAGRA$2.1M0.35%34,170CommonSOLE
428291108HXLHEXCEL CORP NEW$2.0M0.34%31,723CommonSOLE
L00849106AGROADECOAGRO S A$2.0M0.33%250,000CommonSOLE
60855R100MOHMOLINA HEALTHCARE INC$1.9M0.33%10,183CommonSOLE
G85158106STNESTONECO LTD$1.9M0.32%100,000CommonSOLE
489398107KWKENNEDY-WILSON HOLDINGS INC$1.5M0.25%179,400CommonSOLE
65340P106NXENEXGEN ENERGY LTD$1.4M0.24%159,300CommonSOLE
48251W104KKRKKR & CO INC$1.3M0.22%10,240CommonSOLE
56600D107MRVIMARAVAI LIFESCIENCES HLDGS I$1.2M0.20%419,857CommonSOLE
29977A105EVREVERCORE INC$1.0M0.17%3,000CommonSOLE
570535104MKLMARKEL GROUP INC$984,3500.17%515CommonSOLE
235851102DHRDANAHER CORPORATION$931,8220.16%4,700CommonSOLE
595017104MCHPMICROCHIP TECHNOLOGY INC.$922,1990.16%14,360CommonSOLE
G16258108BEPBROOKFIELD RENEWABLE PARTNER$773,2270.13%30,000CommonSOLE
03062D803USASAMERICAS GOLD AND SILVER COR$771,2090.13%206,800CommonSOLE
536797103LADLITHIA MTRS INC$758,4000.13%2,400CommonSOLE
95766Q106XWIAXWESTERN ASST INFLTN LKD INM$749,3310.13%89,100CommonSOLE
G2851K120DMIIUDRUGS MADE IN AMER ACQ II CO$681,2320.11%68,500CommonSOLE
95805V108WRNWESTERN COPPER & GOLD CORP$631,6450.11%318,500CommonSOLE
G5S86M100LPAALAUNCH ONE ACQUISITION CORP$631,2000.11%60,000CommonSOLE
46500E867ISOUISOENERGY LTD$610,4850.10%60,600CommonSOLE
617477104EDDMORGAN STANLEY EMERGING MKTS$566,5520.10%105,700CommonSOLE
80013R206AYS1SANDSTORM GOLD LTD$532,1000.09%42,500CommonSOLE
94106B101WCNWASTE CONNECTIONS INC$527,3980.09%3,000CommonSOLE
00217Y104ATSATS CORPORATION$523,2450.09%20,000CommonSOLE
G21810109CLVTCLARIVATE PLC$506,3260.09%132,200CommonSOLE
11777Q209BTGB2GOLD CORP$494,3590.08%100,000CommonSOLE
00164VAJ2AMCX 4.25 02/15/29 *AMC NETWORKS INC$482,4280.08%501,000CommonSOLE
62482R10707WAMR COOPER GROUP INC$442,6590.07%2,100CommonSOLE
925050106VRNAVERONA PHARMA PLC$416,1690.07%3,900CommonSOLE
92719V100VMEO*VIMEO INC$410,7500.07%53,000CommonSOLE
16115Q308GTLSCHART INDS INC$400,3000.07%2,000CommonSOLE
M2682V108CYBRCYBERARK SOFTWARE LTD$386,5200.07%800CommonSOLE
78464A698KRESPDR SERIES TRUST$379,8000.06%6,000CommonSOLE
58600110975ZSOHO HOUSE & CO INC$379,6650.06%42,900CommonSOLE
443628102HBMHUDBAY MINERALS INC$378,6740.06%25,000CommonSOLE
G8901A129TACHUTITAN ACQUISITION CORP$376,9800.06%36,600CommonSOLE
92859G608VZLAVIZSLA SILVER CORP$358,5600.06%83,000CommonSOLE
011532108AGIALAMOS GOLD INC$348,5660.06%10,000CommonSOLE
947890109WBSWEBSTER FINL CORP$347,0110.06%5,838CommonSOLE
08915P101BG3BIG 5 SPORTING GOODS CORP$344,2020.06%239,029CommonSOLE
52634L108LNSRLENSAR INC$333,4500.06%27,000CommonSOLE
G60409110MTALEURMAC COPPER LIMITED$322,9540.05%26,450CommonSOLE
G82745129SOUL/USOULPOWER ACQUISITION CORP$318,5410.05%30,051CommonSOLE
G82617120SOCAUSOLARIUS CAPITAL ACQU CORP$306,7140.05%29,100CommonSOLE
71377E105PFMTUSDPERFORMANT HEALTHCARE INC$306,1080.05%39,600CommonSOLE
G2616F127BCARUD. BORAL ARC ACQ I CORP.$294,0000.05%29,400CommonSOLE
178587101CIOCITY OFFICE REIT INC$293,7120.05%42,200CommonSOLE
57636Q104MAMASTERCARD INCORPORATED$284,4050.05%500CommonSOLE
98420N105XENEXENON PHARMACEUTICALS INC$275,0280.05%6,850CommonSOLE
G93Y09107VINE HILL CAP INVT CORP.$267,7500.05%25,000CommonSOLE
466313103JBLJABIL INC$264,2960.04%1,217CommonSOLE
G8431T101SIMASIM ACQUISITION CORP. I$262,5000.04%25,000CommonSOLE
98888T107ZIMVZIMVIE INC$259,4780.04%13,700CommonSOLE
046353108AZNNASTRAZENECA PLC$255,4780.04%3,330CommonSOLE
G87890128TVAIUTHAYER VENTURES ACQ CORP II$255,0000.04%25,000CommonSOLE
G98196101W9N0WNS HLDGS LTD$251,6910.04%3,300CommonSOLE
G8193F125SZZLUSIZZLE ACQUISITION CORP. II$250,8360.04%24,448CommonSOLE
G1368E122BLUWUBLUE WTR ACQUISITION CORP. I$249,2230.04%24,700CommonSOLE
69349H107TXNMTXNM ENERGY INC$248,8200.04%4,400CommonSOLE
G19307118CGCTUCARTESIAN GROWTH CORP III$245,0970.04%24,100CommonSOLE
P31076105CPACOPA HOLDINGS SA$243,3430.04%2,048CommonSOLE
45816D10035YCORECARD CORPORATION$231,5120.04%8,600CommonSOLE
44934N108IBACIB ACQUISITION CORP$230,3880.04%21,900CommonSOLE
05368X102AVDXAVIDXCHANGE HOLDINGS INC$229,8450.04%23,100CommonSOLE
50216C108LYTSLSI INDS INC OHIO$229,7250.04%9,730CommonSOLE
74383L105PROVIDENT BANCORP INC$229,2990.04%18,300CommonSOLE
5168062058LP1VITAL ENERGY INC$226,3260.04%13,400CommonSOLE
45674M101INFA1EURINFORMATICA INC$226,0440.04%9,100CommonSOLE
75971T301VQKAEMEREN GROUP LTD$215,9000.04%114,233CommonSOLE
G3106Q110EVAC/UEQV VENTURES AC CORP. II$200,2000.03%20,000CommonSOLE
G1069P137BSAAUBEST SPAC I ACQUISITION CORP$187,9600.03%18,500CommonSOLE
73754Y100PTBPOTBELLY CORP$185,7360.03%10,900CommonSOLE
018522300AEBAALLETE INC$184,5920.03%2,780CommonSOLE
G4569C127HVMCUHIGHVIEW MERGER CORP$182,1600.03%18,000CommonSOLE
74267C106PRAPROASSURANCE CORP$179,9250.03%7,500CommonSOLE
G6005T127MKLYUMCKINLEY ACQUISITION CORP$179,8200.03%18,000CommonSOLE
G7117W123PACHUPIONEER ACQUISITION I CORP$174,8700.03%17,400CommonSOLE
74051N1022655957DPREMIER INC$172,3600.03%6,200CommonSOLE
G63365103MURAMURAL ONCOLOGY PUB LTD$171,3960.03%82,800CommonSOLE
138103106UTE0CANTALOUPE INC$171,2340.03%16,200CommonSOLE
15135U109CVECENOVUS ENERGY INC$169,7920.03%10,000CommonSOLE
N5749R1002GHMERUS N V$169,4700.03%1,800CommonSOLE
G24979125CRANE HBR ACQUISITION CORP$167,1390.03%14,700CommonSOLE
31620R303FNFFIDELITY NATIONAL FINANCIAL$162,9600.03%2,694CommonSOLE
41165Y1001S4HARBORONE BANCORP INC NEW$158,8750.03%11,682CommonSOLE
87652V109TASKTASKUS INC$157,0800.03%8,800CommonSOLE
227483104CCRNCROSS CTRY HEALTHCARE INC$151,9400.03%10,700CommonSOLE
G6476A128NPACUNEW PROVIDENCE ACQUISITION C$151,1160.03%14,700CommonSOLE
89157D105TRMLTOURMALINE BIO INC$143,4900.02%3,000CommonSOLE
282559103ETNBGBP89BIO INC$138,1800.02%9,400CommonSOLE
46005L101IMXIINTERNATIONAL MNY EXPRESS IN$132,7150.02%9,500CommonSOLE
410345102HN9HANESBRANDS INC$124,5510.02%18,900CommonSOLE
40172N107GUILD HLDGS CO$123,6280.02%6,200CommonSOLE
030506109AMWDAMERICAN WOODMARK CORPORATIO$120,1680.02%1,800CommonSOLE
74346Y103PROPROS HOLDINGS INC$116,8410.02%5,100CommonSOLE
55345K10337MMRC GLOBAL INC$115,3600.02%8,000CommonSOLE
G4036C106GRAFGRAF GLOBAL CORP$105,4000.02%10,000CommonSOLE
G3415K127FERAUFIFTH ERA ACQUISITION CORP I$105,3430.02%10,100CommonSOLE
G63221124MBVIUM3-BRIGADE ACQUISITION VI CO$105,1160.02%10,387CommonSOLE
G7010A103PMTRUPERIMETER ACQUISITION CORP I$105,0000.02%10,000CommonSOLE
G9R39C129WENNUWEN ACQUISITION CORP$104,3000.02%10,000CommonSOLE
G9009S129BLZRUTRAILBLAZER ACQUISITION CORP$102,5000.02%10,000CommonSOLE
G1828E100CEPFCANTOR EQUITY PARTNERS IV IN$101,9000.02%10,000CommonSOLE
858155203GJBSTEELCASE INC$101,4800.02%5,900CommonSOLE
G5490M118LWACULIGHTWAVE ACQUISITION CORP$100,4000.02%10,000CommonSOLE
68629Y103ONLORION PROPERTIES INC$99,9000.02%37,000CommonSOLE
G3R25N124LATAUGALATA ACQUISITION CORP II$99,8000.02%10,000CommonSOLE
G2086N113CHECUCHENGHE ACQUISITION III CO$99,8000.02%10,000CommonSOLE
83193E102EMSMART SH GLOBAL LTD$98,5500.02%73,000CommonSOLE
96758W101WOWWIDEOPENWEST INC$98,0400.02%19,000CommonSOLE
15677J108DAYDAYFORCE INC$96,4460.02%1,400CommonSOLE
37637K108GTLBGITLAB INC$94,6680.02%2,100CommonSOLE
92343X100VTYVERINT SYS INC$93,1500.02%4,600CommonSOLE
45828L108IASINTEGRAL AD SCIENCE HLDNG CO$92,5470.02%9,100CommonSOLE
87975H100TIXTTELUS INTL CDA INC$74,8160.01%16,700CommonSOLE
M6191J100FROGJFROG LTD$70,9950.01%1,500CommonSOLE
G053845018ZVASPEN INSURANCE HOLDINGS LTD$69,7490.01%1,900CommonSOLE
00768Y453MSOSADVISORSHARES TR$64,6650.01%13,500CommonSOLE
87901J105TGNATEGNA INC$58,9570.01%2,900CommonSOLE
00912X302ALAIR LEASE CORP$58,9400.01%926CommonSOLE
75605Y106ANYWHERE REAL ESTATE INC$58,2450.01%5,500CommonSOLE
G3730U123FCRS/UFUTURECREST ACQUISITION CORP$53,0000.01%5,000CommonSOLE
G47875128IPCXUINFLECTION PT ACQUISITION CO$52,5000.01%5,000CommonSOLE
G93A7H104VACHVOYAGER ACQUISITION CORP$52,4770.01%5,000CommonSOLE
G6757R121ONCHU1RT ACQUISITION CORP.$52,4500.01%5,000CommonSOLE
G7515A111RDAGUREPUBLIC DIGITAL ACQUISITION$52,4000.01%5,000CommonSOLE
G3473K126FIGXUFIGX CAP ACQUISITION CORP.$50,3500.01%5,000CommonSOLE
G6858G123OBAWUOXLEY BRIDGE ACQ LTD$50,2500.01%5,000CommonSOLE
436440101HO1HOLOGIC INC$47,2430.01%700CommonSOLE
74319B502PROFPROFOUND MED CORP$45,9290.01%9,400CommonSOLE
135086106GOOSCANADA GOOSE HLDGS INC$45,4320.01%3,300CommonSOLE
G1828A108CAEPCANTOR EQUITY PARTNERS III I$41,2800.01%4,000CommonSOLE
G16234109BROOKFIELD BUSINESS PARTNERS$40,4200.01%1,232CommonSOLE
589400100MCYMERCURY GENL CORP NEW$37,3030.01%440CommonSOLE
668074305NWENORTHWESTERN ENERGY GROUP IN$36,9830.01%631CommonSOLE
25401T603DBRGDIGITALBRIDGE GROUP INC$34,2810.01%2,930CommonSOLE
92343E102VRSNVERISIGN INC$34,1080.01%122CommonSOLE
006739106ADUSADDUS HOMECARE CORP$33,9810.01%288CommonSOLE
G3922B107GGENPACT LIMITED$33,9730.01%811CommonSOLE
465741106ITRIITRON INC$33,0080.01%265CommonSOLE
69924R1086PMPARAMOUNT GROUP INC$32,7000.01%5,000CommonSOLE
750917106RMBSRAMBUS INC DEL$31,7810.01%305CommonSOLE
518439104ELLAUDER ESTEE COS INC$31,2830.01%355CommonSOLE
343412102FLRFLUOR CORP NEW$31,1320.01%740CommonSOLE
298736109EEFTEURONET WORLDWIDE INC$30,3820.01%346CommonSOLE
256746108DLTRDOLLAR TREE INC$29,2550.00%310CommonSOLE
609839105MPWRMONOLITHIC PWR SYS INC$28,5400.00%31CommonSOLE
607828100MODMODINE MFG CO$28,4320.00%200CommonSOLE
03674X106ARANTERO RESOURCES CORP$26,8480.00%800CommonSOLE
G6791A126OTGAUOTG ACQUISITION CORP. I$25,1750.00%2,500CommonSOLE
216648501COOCOOPER COS INC$20,5680.00%300CommonSOLE
G93Y09115VCICWVINE HILL CAP INVT CORP.$20,0000.00%12,500CommonSOLE
07323B100BAYABAYVIEW ACQUISITION CORP$19,2630.00%1,678CommonSOLE
G1148A101BKHABLACK HAWK ACQUISITION CORP$10,8210.00%967CommonSOLE
G4365E129HCMAUHCM III ACQUISITION CORP$10,3100.00%1,000CommonSOLE
05534B760BCEBCE INC$8,2250.00%352CommonSOLE
G5S86M126LPAAWLAUNCH ONE ACQUISITION CORP$7,2010.00%30,000CommonSOLE
G8431T119SIMAWSIM ACQUISITION CORP. I$4,7500.00%12,500CommonSOLE
G4619M109HSPOFHORIZON SPACE ACQUSTN I CORP$3,3140.00%269CommonSOLE
M549GJ111INCRINTERCURE LTD$3,2420.00%1,977CommonSOLE
084680107BBTBEACON FINANCIAL CORP.$2,7500.00%116CommonSOLE
G0223V105ATMCALPHATIME ACQUISITION CORP$2,1740.00%181CommonSOLE
G8772L121TVACUTEXAS VENTURES ACQUISITION I$2,1120.00%191CommonSOLE
G4036C122GRAF/WSGRAF GLOBAL CORP$1,6500.00%5,000CommonSOLE
113004105BAMBROOKFIELD ASSET MANAGMT LTD$9670.00%17CommonSOLE
03769M106APOAPOLLO GLOBAL MGMT INC$6660.00%5CommonSOLE
G93A7H112VACHWVOYAGER ACQUISITION CORP$4250.00%2,500CommonSOLE
197236102COLBCOLUMBIA BKG SYS INC$510.00%2CommonSOLE
G5380J118LANV/WSLANVIN GROUP HOLDINGS LIMITE$470.00%2,500CommonSOLE

Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.