2026 Q1 Portfolio Activity
In 2026 Q1, PenderFund Capital Management Ltd. maintained a portfolio of 330 distinct positions. The most significant new addition was TEUCRIUM COMMODITY TR, now representing 2.32% of the total fund value. They heavily accumulated shares in FIRST MAJESTIC SILVER CORP, increasing the position by 3099100.0%. Conversely, PenderFund Capital Management Ltd. completely exited their position in FIRST MAJESTIC SILVER CORP.
Position History
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Total Positions
330
Quarter
2026 Q1
Top Holding
N/A (8.5%)
Top 10 Concentration
53.8%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
Showing 1-50 of 330
PenderFund Capital Management Ltd. Full Holdings List — 2026 Q1
| Stock | History | Sector / Type | Port % | Prev % | Rank / Prev | Conviction | Change | % Change | Influence | Shares | Mkt Value | Avg Cost | Price Held | 1st Owned | Source | Source Date | Date Reported | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
N/A
FIRST MAJESTIC ...
|
|
Bond/Debt | 8.53% | 8.60% |
#1
Prev: #1
|
5.9 |
—
|
-5,300,000 | -12.0% |
P
S
|
38,740,000 | $54,440,999 | — | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
N/A
NORTHERN OIL & ...
|
|
Bond/Debt | 7.79% | 3.07% |
#2
10
Prev: #12
|
7.6 |
—
|
24,500,000 | 122.5% |
P
S
|
44,500,000 | $49,713,609 | — | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
N/A
FLUENCE ENERGY ...
|
|
Bond/Debt | 5.95% | 5.36% |
#3
1
Prev: #4
|
5.9 |
—
|
9,410,000 | 33.6% |
P
S
|
37,410,000 | $37,994,531 | — | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
N/A
SOUTHERN CO
|
|
Bond/Debt | 5.29% | 5.07% |
#4
2
Prev: #6
|
3.6 |
—
|
no change | no change |
P
S
|
30,000,000 | $33,758,784 | — | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
N/A
NIO INC
|
|
Bond/Debt | 4.65% | 3.12% |
#5
6
Prev: #11
|
4.9 |
—
|
7,100,000 | 32.1% |
P
S
|
29,250,000 | $29,690,984 | — | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
N/A
EQUINOX GOLD CO...
|
|
Bond/Debt | 4.61% | 4.50% |
#6
1
Prev: #7
|
2.8 |
—
|
no change | no change |
P
S
|
12,077,000 | $29,436,513 | — | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
PPLT
ABRDN PLATINUM ...
|
ETF | 4.47% | 7.11% |
#7
5
Prev: #2
|
1.8 |
—
|
-82,000 | -33.9% |
P
S
|
160,000 | $28,516,800 | 2024 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
N/A
DUKE ENERGY COR...
|
|
Bond/Debt | 4.39% | 5.24% |
#8
3
Prev: #5
|
1.8 |
—
|
-7,000,000 | -21.9% |
P
S
|
25,000,000 | $28,063,021 | — | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
N/A
NIO INC
|
|
Bond/Debt | 4.10% | 3.79% |
#9
Prev: #9
|
2.1 |
—
|
-85,000 | -0.3% |
P
S
|
25,185,000 | $26,209,855 | — | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
N/A
PPL CAP FDG INC
|
|
Bond/Debt | 4.04% | 3.31% |
#10
Prev: #10
|
3.6 |
—
|
3,000,000 | 15.8% |
P
S
|
22,000,000 | $25,828,611 | — | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
N/A
EVOLENT HEALTH ...
|
|
Bond/Debt | 3.58% | 0.94% |
#11
14
Prev: #25
|
4.4 |
—
|
33,248,000 | 379.2% |
P
S
|
42,017,000 | $22,837,990 | — | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
N/A
WOLFSPEED INC
|
|
Bond/Debt | 2.55% | 1.90% |
#12
9
Prev: #21
|
3.5 |
—
|
3,205,000 | 39.4% |
P
S
|
11,330,060 | $16,299,550 | — | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
CORN
TEUCRIUM COMMOD...
|
ETF | 2.32% | — |
#13
Prev: #—
|
4.4 |
—
|
804,300 | — |
NEW
|
804,300 | $14,799,120 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
N/A
CARDLYTICS INC
|
|
Bond/Debt | 2.12% | 3.05% |
#14
1
Prev: #13
|
1.8 |
—
|
no change | no change |
P
S
|
47,710,000 | $13,524,056 | — | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
TSAT
TELESAT CORP
|
Technology | 2.06% | 2.51% |
#15
1
Prev: #16
|
1.3 |
—
|
-38,600 | -9.4% |
P
S
|
371,153 | $13,145,308 | 2025 Q2 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
EQX
EQUINOX GOLD CO...
|
Basic Materials | 1.84% | 5.75% |
#16
13
Prev: #3
|
0.7 |
—
|
-1,783,654 | -68.7% |
P
S
|
812,500 | $11,733,969 | 2025 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
N/A
MERITAGE HOMES ...
|
|
Bond/Debt | 1.83% | — |
#17
Prev: #—
|
4.2 |
—
|
12,000,000 | — |
NEW
|
12,000,000 | $11,695,333 | — | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
SANG
SANGOMA TECHNOL...
|
Technology | 1.74% | 2.23% |
#18
Prev: #18
|
1.2 |
—
|
-500 | -0.0% |
P
S
|
2,820,933 | $11,112,582 | 2021 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
MDALF
MDA SPACE LTD
|
Industrials | 1.73% | — |
#19
Prev: #—
|
4.2 |
—
|
436,232 | — |
NEW
|
436,232 | $11,050,834 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
PAR
PAR TECHNOLOGY ...
|
Technology | 1.70% | 2.39% |
#20
3
Prev: #17
|
3.7 |
—
|
394,796 | 94.5% |
P
S
|
812,462 | $10,830,118 | 2019 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
ESPR
ESPERION THERAP...
|
Healthcare | 1.67% | 2.56% |
#21
7
Prev: #14
|
1.2 |
—
|
-500,000 | -11.4% |
P
S
|
3,891,926 | $10,663,877 | 2025 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
N/A
OPKO HEALTH INC
|
|
Bond/Debt | 1.43% | 1.51% |
#22
Prev: #22
|
1.6 |
—
|
no change | no change |
P
S
|
7,311,000 | $9,152,763 | — | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
WIW
WESTERN AST INF...
|
Financial Services | 1.36% | 1.37% |
#23
Prev: #23
|
1.0 |
—
|
7,800 | 0.8% |
P
S
|
1,023,197 | $8,656,247 | 2018 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
N/A
TXNM ENERGY INC
|
|
Bond/Debt | 1.25% | 1.25% |
#24
Prev: #24
|
1.5 |
—
|
no change | no change |
P
S
|
5,900,000 | $7,978,521 | — | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
N/A
EVOLENT HEALTH ...
|
|
Bond/Debt | 1.23% | 0.46% |
#25
4
Prev: #29
|
3.5 |
—
|
11,500,000 | 287.5% |
P
S
|
15,500,000 | $7,868,187 | — | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
N/A
ALIBABA GROUP H...
|
|
Bond/Debt | 1.09% | — |
#26
Prev: #—
|
3.9 |
—
|
5,000,000 | — |
NEW
|
5,000,000 | $6,952,083 | — | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
N/A
SUPER MICRO COM...
|
|
Bond/Debt | 0.82% | — |
#27
Prev: #—
|
3.8 |
—
|
6,000,000 | — |
NEW
|
6,000,000 | $5,258,385 | — | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
N/A
PAR TECHNOLOGY ...
|
|
Bond/Debt | 0.73% | 0.77% |
#28
1
Prev: #27
|
1.3 |
—
|
no change | no change |
P
S
|
5,000,000 | $4,673,583 | — | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
AGRO
ADECOAGRO S A
|
Consumer Defensive | 0.59% | 0.31% |
#29
11
Prev: #40
|
1.2 |
—
|
no change | no change |
P
S
|
250,000 | $3,755,000 | 2025 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
BMOOF
BLUE MOON METAL...
|
Unknown | 0.57% | — |
#30
Prev: #—
|
3.7 |
—
|
565,298 | — |
NEW
|
565,298 | $3,661,372 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
HLSCF
HIGHLANDER SILV...
|
Basic Materials | 0.54% | — |
#31
Prev: #—
|
3.7 |
—
|
587,800 | — |
NEW
|
587,800 | $3,435,277 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
NXE
NEXGEN ENERGY L...
|
Energy | 0.48% | 0.37% |
#32
1
Prev: #33
|
0.7 |
—
|
6,200 | 2.4% |
P
S
|
263,000 | $3,051,413 | 2022 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
CLVT
CLARIVATE PLC
|
Technology | 0.44% | 0.27% |
#33
10
Prev: #43
|
3.2 |
—
|
592,600 | 113.7% |
P
S
|
1,113,600 | $2,817,408 | 2024 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
KKR
KKR & CO INC
|
Financial Services | 0.43% | 0.40% |
#34
3
Prev: #31
|
2.7 |
—
|
9,600 | 48.6% |
P
S
|
29,340 | $2,713,950 | 2018 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
SOYB
TEUCRIUM COMMOD...
|
ETF | 0.38% | — |
#35
Prev: #—
|
3.7 |
—
|
100,000 | — |
NEW
|
100,000 | $2,440,000 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
BUR
BURFORD CAPITAL...
|
Financial Services | 0.35% | 0.70% |
#36
8
Prev: #28
|
1.1 |
—
|
no change | no change |
P
S
|
497,990 | $2,250,915 | 2020 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
GNRC
GENERAC HLDGS I...
|
Industrials | 0.33% | — |
#37
Prev: #—
|
3.6 |
—
|
10,850 | — |
NEW
|
10,850 | $2,119,330 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
FLR
FLUOR CORP
|
Industrials | 0.33% | 0.28% |
#38
4
Prev: #42
|
1.1 |
—
|
no change | no change |
P
S
|
45,140 | $2,105,781 | 2020 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
DECK
DECKERS OUTDOOR...
|
Consumer Cyclical | 0.33% | 0.03% |
#39
79
Prev: #118
|
3.1 |
—
|
18,871 | 894.4% |
P
S
|
20,981 | $2,099,988 | 2025 Q2 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
SARO
STANDARDAERO IN...
|
Industrials | 0.33% | 0.36% |
#40
5
Prev: #35
|
0.6 |
—
|
550 | 0.7% |
P
S
|
81,250 | $2,098,688 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
CART
MAPLEBEAR INC
|
Consumer Cyclical | 0.33% | 0.00% |
#41
156
Prev: #197
|
3.1 |
—
|
55,420 | 9314.3% |
P
S
|
56,015 | $2,098,322 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
DLTR
DOLLAR TREE INC
|
Consumer Defensive | 0.32% | 0.36% |
#42
5
Prev: #37
|
1.1 |
—
|
no change | no change |
P
S
|
18,530 | $2,029,220 | 2024 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
EDD
MORGAN STANLEY ...
|
Financial Services | 0.32% | — |
#43
Prev: #—
|
3.6 |
—
|
400,000 | — |
NEW
|
400,000 | $2,028,000 | 2022 Q2 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
ADUS
ADDUS HOMECARE ...
|
Healthcare | 0.27% | 0.31% |
#44
3
Prev: #41
|
0.6 |
—
|
75 | 0.4% |
P
S
|
18,475 | $1,730,184 | 2025 Q2 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
ISOU
ISOENERGY LTD
|
Energy | 0.24% | 0.16% |
#45
3
Prev: #48
|
2.6 |
—
|
33,600 | 30.1% |
P
S
|
145,200 | $1,538,529 | 2025 Q2 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
SHOP
SHOPIFY INC
|
Technology | 0.24% | — |
#46
Prev: #—
|
3.6 |
—
|
12,800 | — |
NEW
|
12,800 | $1,518,775 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
BN
BROOKFIELD CORP
|
Financial Services | 0.23% | 0.33% |
#47
9
Prev: #38
|
0.1 |
—
|
-10,500 | -22.8% |
P
S
|
35,610 | $1,442,984 | 2022 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
STNE
STONECO LTD
|
Technology | 0.22% | 0.23% |
#48
4
Prev: #44
|
1.1 |
—
|
no change | no change |
P
S
|
100,000 | $1,412,000 | 2025 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
BAH
BOOZ ALLEN HAMI...
|
Industrials | 0.22% | 0.00% |
#49
146
Prev: #195
|
3.1 |
—
|
17,270 | 4934.3% |
P
S
|
17,620 | $1,374,889 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
IFF
INTERNATIONAL F...
|
Basic Materials | 0.20% | 0.36% |
#50
14
Prev: #36
|
0.1 |
—
|
-16,600 | -48.5% |
P
S
|
17,612 | $1,277,751 | 2025 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 |
Showing 1-50 of 330 holdings