PENDERFUND CAPITAL MANAGEMENT LTD.

Filed: 5/15/2024ACC: 0001706164-24-000002

📋 What this filing means

PENDERFUND CAPITAL MANAGEMENT LTD. filed this quarterly 13F‑HR report disclosing 116 equity positions with a total reported market value of $378.18M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.

116

Positions

$378.18M

Total AUM (reported)

193.17M

Total Shares

Allocation by class

COM$106.08M28.1%

NOTE 4.000%11/1$46.69M12.3%

NOTE 0.375% 1/1$33.20M8.8%

COM NEW$32.60M8.6%

NOTE 0.500% 4/0$26.28M6.9%

NOTE 2.500% 4/0$23.07M6.1%

NOTE 5.000%12/1 ADDED$21.03M5.6%

Portfolio Concentration

Top 3$106.16M28.1%

4–10$125.97M33.3%

11–25$90.18M23.8%

Rest$55.87M14.8%

Top 3 weight

28.1%

Top 10 weight

61.4%

Voting Authority Distribution

Total shares with voting rights: 193.17M

Sole

Full voting authority

193.17M

% of voting shares100.0%

Shared

Joint voting authority

0.00

% of voting shares0.0%

None

No voting authority

0.00

% of voting shares0.0%

Investment Discretion (by position count)

Sole116

Shared0

Other0

Dominant voting typeSole · 100.0% of voting shares

Institutional Holdings116

Rows:

ESPERION THERAPEUTICS INC NE

SOLE

NOTE 4.000%11/1

Shares40.43M

TypePRN

Market value$46.69M

12.35%

Sole

40.43M

Shared

0.00

None

0.00

FIRST MAJESTIC SILVER CORP

SOLE

NOTE 0.375% 1/1

Shares31.25M

TypePRN

Market value$33.20M

8.78%

Sole

31.25M

Shared

0.00

None

0.00

BANDWIDTH INC

SOLE

NOTE 0.500% 4/0

Shares26.70M

TypePRN

Market value$26.28M

6.95%

Sole

26.70M

Shared

0.00

None

0.00

SSR MINING IN

SOLE

NOTE 2.500% 4/0

Shares18.99M

TypePRN

Market value$23.07M

6.10%

Sole

18.99M

Shared

0.00

None

0.00

SANGOMA TECHNOLOGIES CORP

SOLE

COM NEW

Shares3.31M

TypeSH

Market value$21.67M

5.73%

Sole

3.31M

Shared

0.00

None

0.00

NOVAVAX INC

SOLE

NOTE 5.000%12/1 ADDED

Shares24M

TypePRN

Market value$21.03M

5.56%

Sole

24M

Shared

0.00

None

0.00

BURFORD CAP LTD

SOLE

ORD SHS

Shares779.41K

TypeSH

Market value$16.86M

4.46%

Sole

779.41K

Shared

0.00

None

0.00

PAR TECHNOLOGY CORP

SOLE

COM

Shares273.14K

TypeSH

Market value$16.78M

4.44%

Sole

273.14K

Shared

0.00

None

0.00

WESTERN ASSET EMERGING MKTS

SOLE

COM

Shares3.14K

TypeSH

Market value$13.36M

3.53%

Sole

3.14K

Shared

0.00

None

0.00

NUVEEN QUALITY MUNCP INCOME

SOLE

COM

Shares850K

TypeSH

Market value$13.19M

3.49%

Sole

850K

Shared

0.00

None

0.00

NUVEEN MUNICIPAL CREDIT INC

SOLE

COM SH BEN INT

Shares751K

TypeSH

Market value$12.45M

3.29%

Sole

751K

Shared

0.00

None

0.00

CABLE ONE INC

SOLE

NOTE 1.125% 3/1

Shares8.50M

TypePRN

Market value$8.71M

2.30%

Sole

8.50M

Shared

0.00

None

0.00

DOCEBO INC

SOLE

COM

Shares117.82K

TypeSH

Market value$7.80M

2.06%

Sole

117.82K

Shared

0.00

None

0.00

AVIAT NETWORKS INC

SOLE

COM NEW

Shares129.52K

TypeSH

Market value$6.73M

1.78%

Sole

129.52K

Shared

0.00

None

0.00

NUVEEN AMT FREE QLTY MUN INC

SOLE

COM

Shares440K

TypeSH

Market value$6.60M

1.74%

Sole

440K

Shared

0.00

None

0.00

BEYOND MEAT INC

SOLE

NOTE 3/1

Shares17.25M

TypePRN

Market value$5.60M

1.48%

Sole

17.25M

Shared

0.00

None

0.00

FORUM ENERGY TECHNOLOGIES IN

SOLE

COM

Shares199.12K

TypeSH

Market value$5.39M

1.42%

Sole

199.12K

Shared

0.00

None

0.00

KKR & CO INC

SOLE

COM

Shares39.32K

TypeSH

Market value$5.36M

1.42%

Sole

39.32K

Shared

0.00

None

0.00

INTERACTIVE BROKERS GROUP IN

SOLE

COM CL A

Shares35.14K

TypeSH

Market value$5.32M

1.41%

Sole

35.14K

Shared

0.00

None

0.00

MAGNITE INC

SOLE

NOTE 0.250% 3/1

Shares4.22M

TypePRN

Market value$5.12M

1.35%

Sole

4.22M

Shared

0.00

None

0.00

WESTERN AST INFL LKD OPP & I

SOLE

COM

Shares429.45K

TypeSH

Market value$5.02M

1.33%

Sole

429.45K

Shared

0.00

None

0.00

TEXAS PACIFIC LAND CORPORATI

SOLE

COM

Shares5.72K

TypeSH

Market value$4.48M

1.19%

Sole

5.72K

Shared

0.00

None

0.00

ZILLOW GROUP INC

SOLE

CL C CAP STK

Shares65.95K

TypeSH

Market value$4.36M

1.15%

Sole

65.95K

Shared

0.00

None

0.00

EVENTBRITE INC

SOLE

NOTE 0.750% 9/1

Shares3.50M

TypePRN

Market value$3.99M

1.06%

Sole

3.50M

Shared

0.00

None

0.00

MORGAN STANLEY EMERGING MKTS

SOLE

COM

Shares506.61K

TypeSH

Market value$3.26M

0.86%

Sole

506.61K

Shared

0.00

None

0.00

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole
ESPERION THERAPEUTICS INC NESOLE	NOTE 4.000%11/1	40.43M	PRN	$46.69M 12.35%	40.43M
FIRST MAJESTIC SILVER CORPSOLE	NOTE 0.375% 1/1	31.25M	PRN	$33.20M 8.78%	31.25M
BANDWIDTH INCSOLE	NOTE 0.500% 4/0	26.70M	PRN	$26.28M 6.95%	26.70M
SSR MINING INSOLE	NOTE 2.500% 4/0	18.99M	PRN	$23.07M 6.10%	18.99M
SANGOMA TECHNOLOGIES CORPSOLE	COM NEW	3.31M	SH	$21.67M 5.73%	3.31M
NOVAVAX INCSOLE	NOTE 5.000%12/1 ADDED	24M	PRN	$21.03M 5.56%	24M
BURFORD CAP LTDSOLE	ORD SHS	779.41K	SH	$16.86M 4.46%	779.41K
PAR TECHNOLOGY CORPSOLE	COM	273.14K	SH	$16.78M 4.44%	273.14K
WESTERN ASSET EMERGING MKTSSOLE	COM	3.14K	SH	$13.36M 3.53%	3.14K
NUVEEN QUALITY MUNCP INCOMESOLE	COM	850K	SH	$13.19M 3.49%	850K
NUVEEN MUNICIPAL CREDIT INCSOLE	COM SH BEN INT	751K	SH	$12.45M 3.29%	751K
CABLE ONE INCSOLE	NOTE 1.125% 3/1	8.50M	PRN	$8.71M 2.30%	8.50M
DOCEBO INCSOLE	COM	117.82K	SH	$7.80M 2.06%	117.82K
AVIAT NETWORKS INCSOLE	COM NEW	129.52K	SH	$6.73M 1.78%	129.52K
NUVEEN AMT FREE QLTY MUN INCSOLE	COM	440K	SH	$6.60M 1.74%	440K
BEYOND MEAT INCSOLE	NOTE 3/1	17.25M	PRN	$5.60M 1.48%	17.25M
FORUM ENERGY TECHNOLOGIES INSOLE	COM	199.12K	SH	$5.39M 1.42%	199.12K
KKR & CO INCSOLE	COM	39.32K	SH	$5.36M 1.42%	39.32K
INTERACTIVE BROKERS GROUP INSOLE	COM CL A	35.14K	SH	$5.32M 1.41%	35.14K
MAGNITE INCSOLE	NOTE 0.250% 3/1	4.22M	PRN	$5.12M 1.35%	4.22M
WESTERN AST INFL LKD OPP & ISOLE	COM	429.45K	SH	$5.02M 1.33%	429.45K
TEXAS PACIFIC LAND CORPORATISOLE	COM	5.72K	SH	$4.48M 1.19%	5.72K
ZILLOW GROUP INCSOLE	CL C CAP STK	65.95K	SH	$4.36M 1.15%	65.95K
EVENTBRITE INCSOLE	NOTE 0.750% 9/1	3.50M	PRN	$3.99M 1.06%	3.50M
MORGAN STANLEY EMERGING MKTSSOLE	COM	506.61K	SH	$3.26M 0.86%	506.61K

Page 1 of 5

…