Filed: 8/14/2025ACC: 0001706164-25-000003
📋 What this filing means
PENDERFUND CAPITAL MANAGEMENT LTD. filed this quarterly 13F‑HR report disclosing 159 equity positions with a total reported market value of $422.54M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
159
Positions
$422.54M
Total AUM (reported)
406.03M
Total Shares
Allocation by class
COM$67.06M15.9%
P NOTE 0.375% 1/1$41.59M9.8%
PHYSCL PLATM SHS$38.36M9.1%
NOTE 4.125% 4/1$23.50M5.6%
NOTE 2.500% 4/0$22.71M5.4%
COM NEW$21.19M5.0%
NOTE 12/0$18.04M4.3%
Portfolio Concentration
Top 3$103.45M24.5%
4–10$116.66M27.6%
11–25$130.64M30.9%
Rest$71.79M17.0%
Top 3 weight
24.5%
Top 10 weight
52.1%
Voting Authority Distribution
Total shares with voting rights: 406.03M
Sole
Full voting authority
406.03M
shares
% of voting shares100.0%
Shared
Joint voting authority
0.00
shares
% of voting shares0.0%
None
No voting authority
0.00
shares
% of voting shares0.0%
Investment Discretion (by position count)
Sole159
Shared0
Other0
Dominant voting typeSole · 100.0% of voting shares
Institutional Holdings159
Rows:
FIRST MAJESTIC SILVER COR
SOLEShares43.34M
TypePRN
Market value$41.59M
9.84%
Sole
43.34M
Shared
0.00
None
0.00
ABRDN PLATINUM ETF TRUST
SOLEShares312.20K
TypeSH
Market value$38.36M
9.08%
Sole
312.20K
Shared
0.00
None
0.00
DUKE ENERGY CORP NEW
SOLEShares22M
TypePRN
Market value$23.50M
5.56%
Sole
22M
Shared
0.00
None
0.00
SSR MINING IN
SOLEShares21.99M
TypePRN
Market value$22.71M
5.38%
Sole
21.99M
Shared
0.00
None
0.00
SANGOMA TECHNOLOGIES CORP
SOLEShares3.24M
TypeSH
Market value$20.06M
4.75%
Sole
3.24M
Shared
0.00
None
0.00
PDD HOLDINGS INC
SOLEShares18.50M
TypePRN
Market value$18.04M
4.27%
Sole
18.50M
Shared
0.00
None
0.00
EQUINOX GOLD CORP
SOLEShares12.08M
TypePRN
Market value$14.67M
3.47%
Sole
12.08M
Shared
0.00
None
0.00
CARDLYTICS INC
SOLEShares34.61M
TypePRN
Market value$14.31M
3.39%
Sole
34.61M
Shared
0.00
None
0.00
MAGNITE INC
SOLEShares14.22M
TypePRN
Market value$13.76M
3.26%
Sole
14.22M
Shared
0.00
None
0.00
PAR TECHNOLOGY CORP
SOLEShares188.91K
TypeSH
Market value$13.10M
3.10%
Sole
188.91K
Shared
0.00
None
0.00
NIO INC
SOLEShares16.77M
TypePRN
Market value$12.08M
2.86%
Sole
16.77M
Shared
0.00
None
0.00
SOUTHERN CO
SOLEShares10M
TypePRN
Market value$11.07M
2.62%
Sole
10M
Shared
0.00
None
0.00
NIO INC
SOLEShares17.15M
TypePRN
Market value$11.05M
2.61%
Sole
17.15M
Shared
0.00
None
0.00
BURFORD CAP LTD
SOLEShares744.71K
TypeSH
Market value$10.62M
2.51%
Sole
744.71K
Shared
0.00
None
0.00
OPKO HEALTH INC
SOLEShares7.31M
TypePRN
Market value$9.96M
2.36%
Sole
7.31M
Shared
0.00
None
0.00
PPL CAP FDG INC
SOLEShares9M
TypePRN
Market value$9.82M
2.32%
Sole
9M
Shared
0.00
None
0.00
WESTERN AST INFL LKD OPP & I
SOLEShares995.80K
TypeSH
Market value$8.72M
2.06%
Sole
995.80K
Shared
0.00
None
0.00
ISHARES SILVER TR
SOLEShares250K
TypeSH
Market value$8.20M
1.94%
Sole
250K
Shared
0.00
None
0.00
SPROTT PHYSICAL SILVER TR
SOLEShares665K
TypeSH
Market value$8.14M
1.93%
Sole
665K
Shared
0.00
None
0.00
BEYOND MEAT INC
SOLEShares93.79M
TypePRN
Market value$7.93M
1.88%
Sole
93.79M
Shared
0.00
None
0.00
TXNM ENERGY INC
SOLEShares5.90M
TypePRN
Market value$7.70M
1.82%
Sole
5.90M
Shared
0.00
None
0.00
FORUM ENERGY TECHNOLOGIES IN
SOLEShares377.68K
TypeSH
Market value$7.35M
1.74%
Sole
377.68K
Shared
0.00
None
0.00
WOLFSPEED INC
SOLEShares25.33M
TypePRN
Market value$6.60M
1.56%
Sole
25.33M
Shared
0.00
None
0.00
ESPERION THERAPEUTICS INC NE COM
SOLEShares6.68M
TypeSH
Market value$6.57M
1.56%
Sole
6.68M
Shared
0.00
None
0.00
AIRBNB INC
SOLEShares5M
TypePRN
Market value$4.83M
1.14%
Sole
5M
Shared
0.00
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
FIRST MAJESTIC SILVER CORSOLE | P NOTE 0.375% 1/1 | 43.34M | PRN | $41.59M 9.84% | 43.34M | 0.00 | 0.00 |
ABRDN PLATINUM ETF TRUSTSOLE | PHYSCL PLATM SHS | 312.20K | SH | $38.36M 9.08% | 312.20K | 0.00 | 0.00 |
DUKE ENERGY CORP NEWSOLE | NOTE 4.125% 4/1 | 22M | PRN | $23.50M 5.56% | 22M | 0.00 | 0.00 |
SSR MINING INSOLE | NOTE 2.500% 4/0 | 21.99M | PRN | $22.71M 5.38% | 21.99M | 0.00 | 0.00 |
SANGOMA TECHNOLOGIES CORPSOLE | COM NEW | 3.24M | SH | $20.06M 4.75% | 3.24M | 0.00 | 0.00 |
PDD HOLDINGS INCSOLE | NOTE 12/0 | 18.50M | PRN | $18.04M 4.27% | 18.50M | 0.00 | 0.00 |
EQUINOX GOLD CORPSOLE | NOTE 4.750%10/1 | 12.08M | PRN | $14.67M 3.47% | 12.08M | 0.00 | 0.00 |
CARDLYTICS INCSOLE | NOTE 4.250% 4/0 | 34.61M | PRN | $14.31M 3.39% | 34.61M | 0.00 | 0.00 |
MAGNITE INCSOLE | NOTE 0.250% 3/1 | 14.22M | PRN | $13.76M 3.26% | 14.22M | 0.00 | 0.00 |
PAR TECHNOLOGY CORPSOLE | COM | 188.91K | SH | $13.10M 3.10% | 188.91K | 0.00 | 0.00 |
NIO INCSOLE | NOTE 3.875%10/1 | 16.77M | PRN | $12.08M 2.86% | 16.77M | 0.00 | 0.00 |
SOUTHERN COSOLE | NOTE 4.500% 6/1 | 10M | PRN | $11.07M 2.62% | 10M | 0.00 | 0.00 |
NIO INCSOLE | NOTE 4.625%10/1 | 17.15M | PRN | $11.05M 2.61% | 17.15M | 0.00 | 0.00 |
BURFORD CAP LTDSOLE | ORD SHS | 744.71K | SH | $10.62M 2.51% | 744.71K | 0.00 | 0.00 |
OPKO HEALTH INCSOLE | NOTE 3.750% 1/1 | 7.31M | PRN | $9.96M 2.36% | 7.31M | 0.00 | 0.00 |
PPL CAP FDG INCSOLE | NOTE 2.875% 3/1 | 9M | PRN | $9.82M 2.32% | 9M | 0.00 | 0.00 |
WESTERN AST INFL LKD OPP & ISOLE | COM | 995.80K | SH | $8.72M 2.06% | 995.80K | 0.00 | 0.00 |
ISHARES SILVER TRSOLE | ISHARES | 250K | SH | $8.20M 1.94% | 250K | 0.00 | 0.00 |
SPROTT PHYSICAL SILVER TRSOLE | TR UNIT | 665K | SH | $8.14M 1.93% | 665K | 0.00 | 0.00 |
BEYOND MEAT INCSOLE | NOTE 3/1 | 93.79M | PRN | $7.93M 1.88% | 93.79M | 0.00 | 0.00 |
TXNM ENERGY INCSOLE | NOTE 5.750% 6/0 | 5.90M | PRN | $7.70M 1.82% | 5.90M | 0.00 | 0.00 |
FORUM ENERGY TECHNOLOGIES INSOLE | COM | 377.68K | SH | $7.35M 1.74% | 377.68K | 0.00 | 0.00 |
WOLFSPEED INCSOLE | NOTE 1.750% 5/0 | 25.33M | PRN | $6.60M 1.56% | 25.33M | 0.00 | 0.00 |
ESPERION THERAPEUTICS INC NE COMSOLE | COM | 6.68M | SH | $6.57M 1.56% | 6.68M | 0.00 | 0.00 |
AIRBNB INCSOLE | NOTE 3/1 | 5M | PRN | $4.83M 1.14% | 5M | 0.00 | 0.00 |
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