PenderFund Capital Management Ltd.

13F filer, CIK 1706164, VANCOUVER, British Columbia, Canada

PenderFund Capital Management Ltd. reported $434,197,610 across 137 holdings for the quarter ended 2024-09-30, in a 13F-HR filed 2024-11-14. Its ten largest share positions make up 61.88% of the portfolio.

Filed 2024-11-14 (acceptance time not in the bulk data set), ingested 2026-10-07 18:26:56 UTC13F-HR 0001706164-24-000007

Period: 2024-09-30
Reported value: $434M
Holdings: 137
Top 10 weight: 61.88%
New: 54
Sold out: 43

Largest buys vs the previous quarter

Security	Shares change	Approx. value
WIWadded	+513,609	$6.14M
PPLTadded	+50,000	$6.07M
EROadded	+122,100	$3.68M
HHHnew	+9,600	$1.01M
ENVESTNET INCnew	+11,800	$999K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

Security	Shares change	Approx. value
AVNWexited	-129,524	-$5.08M
EDDreduced	-502,544	-$3.43M
IBKRreduced	-10,600	-$2M
EVERBRIDGE INCexited	-26,000	-$1.24M
KKRreduced	-6,700	-$1.18M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q3 2024

Share positions as resolved from 13F-HR 0001706164-24-000007, largest first. % of portfolio is the value over $434,197,610, the sum of the share positions whose value is usable for ratios (method).

Security	Shares	Value	% of portfolio	Change	Timeline
SANGSANGOMA TECHNOLOGIES CORP	3,140,233	$23.5M	5.42%	+7,600	Timeline
PARPAR TECHNOLOGY CORP	258,009	$18.2M	4.19%	-10,300	Timeline
PPLTABRDN PLATINUM ETF TRUST	125,000	$15.2M	3.5%	+50,000	Timeline
BURBURFORD CAPITAL LIMITED	771,713	$13.8M	3.19%	0	Timeline
WIWWESTERN AST INFL LKD OPP & I	953,094	$11.4M	2.62%	+513,609	Timeline
NADNUVEEN QUALITY MUNCP INCOME	585,000	$9.79M	2.26%	-34,900	Timeline
XNEAXNUVEEN AMT FREE QLTY MUN INC	515,000	$8.34M	1.92%	0	Timeline
DCBODOCEBO INC	117,820	$7.03M	1.62%	0	Timeline
NZFNUVEEN MUN CR INCOME FD	365,500	$6.48M	1.49%	0	Timeline
ZZILLOW GROUP INC	74,947	$6.47M	1.49%	0	Timeline
CLVTCLARIVATE PLC	502,800	$4.83M	1.11%	0	Timeline
KKRKKR & CO INC	24,720	$4.37M	1.01%	-6,700	Timeline
FETFORUM ENERGY TECHNOLOGIES IN	199,122	$4.16M	0.96%	0	Timeline
EROERO COPPER CORP	137,700	$4.15M	0.95%	+122,100	Timeline
KWKENNEDY-WILSON HOLDINGS INC	264,660	$3.96M	0.91%	0	Timeline
IBKRINTERACTIVE BROKERS GROUP IN	20,038	$3.78M	0.87%	-10,600	Timeline
TPLTEXAS PACIFIC LAND CORPORATI	3,121	$3.73M	0.86%	-400	Timeline
BNBROOKFIELD CORP	23,740	$1.71M	0.39%	-200	Timeline
MCHPMICROCHIP TECHNOLOGY INC.	11,660	$1.27M	0.29%	+4,500	Timeline
PPLIPEOPLE INC	16,100	$1.17M	0.27%	+5,600	Timeline
NUVEI CORPORATIONNUVEI CORPORATION	24,600	$1.11M	0.26%	0
ATLANTICA YIELD PLCATLANTICA YIELD PLC	35,680	$1.06M	0.24%	+10,100
GFLGFL ENVIRONMENTAL INC	19,000	$1.03M	0.24%	+3,400	Timeline
BIDUBAIDU INC	7,100	$1.01M	0.23%	+1,300	Timeline
HHHHOWARD HUGHES HOLDINGS INC	9,600	$1.01M	0.23%	new	Timeline
NOCNORTHROP GRUMMAN CORP	1,400	$1000K	0.23%	+250	Timeline
ENVESTNET INCENVESTNET INC	11,800	$999K	0.23%	new
R1 RCM INCR1 RCM INC	52,100	$998K	0.23%	new
POWERSCHOOL HOLDINGS INCPOWERSCHOOL HOLDINGS INC	31,230	$963K	0.22%	+16,200
ITERIS INC NEWITERIS INC NEW	99,600	$962K	0.22%	new
LAUNCH ONE ACQUISITION CORPLAUNCH ONE ACQUISITION CORP	60,000	$848K	0.2%	new
EVERI HLDGS INCEVERI HLDGS INC	45,100	$801K	0.18%	new
ARC DOCUMENT SOLUTIONS INCARC DOCUMENT SOLUTIONS INC	174,900	$800K	0.18%	new
STERICYCLE INCSTERICYCLE INC	9,600	$792K	0.18%	+2,300
PERFICIENT INCPERFICIENT INC	7,713	$787K	0.18%	+3,713
SBUXSTARBUCKS CORP	5,930	$782K	0.18%	+1,100	Timeline
SOUTHWESTERN ENERGY COSOUTHWESTERN ENERGY CO	80,100	$770K	0.18%	0
PETIQ INCPETIQ INC	17,700	$737K	0.17%	new
MANITEX INTL INCMANITEX INTL INC	96,200	$732K	0.17%	new
INSTRUCTURE HLDGS INCINSTRUCTURE HLDGS INC	22,700	$723K	0.17%	new
BALLYS CORPORATIONBALLYS CORPORATION	30,600	$714K	0.16%	new
XWIAXWESTERN ASSET INFLT LNK INC	61,666	$713K	0.16%	0	Timeline
AARONS CO INCAARONS CO INC	49,530	$667K	0.15%	+39,341
ENSTAR GROUP LIMITEDENSTAR GROUP LIMITED	1,500	$652K	0.15%	new
KVACFKEEN VISION ACQUISITION CORP	42,000	$611K	0.14%	0	Timeline
SHARECARE INCSHARECARE INC	316,000	$607K	0.14%	+212,000
TELLURIAN INC NEWTELLURIAN INC NEW	458,700	$601K	0.14%	new
GENERATION ASIA I ACQUISITIOGENERATION ASIA I ACQUISITIO	39,385	$597K	0.14%	0
Surmodics IncSurmodics Inc	11,100	$582K	0.13%	+500
CEPTON INCCEPTON INC	134,276	$567K	0.13%	new
SSYSSTRATASYS LTD	46,740	$525K	0.12%	0	Timeline
AUGMEDIX INCAUGMEDIX INC	161,327	$513K	0.12%	new
GATOS SILVER INCGATOS SILVER INC	24,600	$502K	0.12%	new
HASHICORP INCHASHICORP INC	10,900	$499K	0.11%	+2,100
ACIALBERTSONS COMPANIES INC	19,200	$480K	0.11%	+7,600	Timeline
STWDSTARWOOD PPTY TR INC	16,700	$460K	0.11%	0	Timeline
PLAYAGS INCPLAYAGS INC	28,000	$431K	0.1%	+7,400
VISTA OUTDOOR INCVISTA OUTDOOR INC	7,850	$416K	0.1%	+2,350
HCM II ACQUISITION CORPHCM II ACQUISITION CORP	30,000	$405K	0.09%	new
HAYNES INTL INCHAYNES INTL INC	5,000	$403K	0.09%	-2,200
VECTOR GROUP LTDVECTOR GROUP LTD	19,900	$402K	0.09%	new
PROPERTYGURU GROUP LTDPROPERTYGURU GROUP LTD	44,800	$400K	0.09%	new
AFBIAFFINITY BANCSHARES INC	13,827	$400K	0.09%	+3,627	Timeline
HEARTLAND FINL USA INCHEARTLAND FINL USA INC	5,200	$399K	0.09%	-3,900
VALUENCE MERGER CORP IVALUENCE MERGER CORP I	25,400	$396K	0.09%	new
HLITHARMONIC INC	20,000	$394K	0.09%	new	Timeline
INFLECTION PT ACQUISITN CRPINFLECTION PT ACQUISITN CRP	25,000	$363K	0.08%	0
SIMAUSIM ACQUISITION CORP. I	25,000	$339K	0.08%	new	Timeline
VINE HILL CAP INVT CORP.VINE HILL CAP INVT CORP.	25,000	$338K	0.08%	new
ALEALLETE INC	3,780	$328K	0.08%	0	Timeline
WBSWEBSTER FINL CORP	5,200	$328K	0.08%	new	Timeline
AQUARON ACQUISITION CORPAQUARON ACQUISITION CORP	21,700	$320K	0.07%	0
AXONICS INCAXONICS INC	3,400	$320K	0.07%	0
HXLHEXCEL CORP NEW	3,800	$318K	0.07%	new	Timeline
SMARTSHEET INC. (CLASS A)SMARTSHEET INC. (CLASS A)	4,000	$299K	0.07%	new
MATTERPORT INCMATTERPORT INC	47,200	$287K	0.07%	-46,700
SGRPSPAR GROUP INC	86,200	$286K	0.07%	new	Timeline
CARTESIAN GROWTH CORP IICARTESIAN GROWTH CORP II	18,400	$285K	0.07%	new
COLOMBIER ACQUISITION CORP ICOLOMBIER ACQUISITION CORP I	20,000	$281K	0.06%	0
HESS CORPHESS CORP	1,500	$275K	0.06%	0
JBLJABIL INC	1,600	$259K	0.06%	new	Timeline
METAL SKY STAR ACQUISITION CMETAL SKY STAR ACQUISITION C	16,500	$254K	0.06%	0
MOHMOLINA HEALTHCARE INC	500	$233K	0.05%	new	Timeline
JUNIPER NETWORKS INCJUNIPER NETWORKS INC	4,400	$232K	0.05%	0
CPACOPA HOLDINGS SA	1,800	$228K	0.05%	new	Timeline
REVANCE THERAPEUTICS INCREVANCE THERAPEUTICS INC	30,100	$211K	0.05%	new
HORIZON SPACE ACQUSTN I CORPHORIZON SPACE ACQUSTN I CORP	13,500	$205K	0.05%	0
PEARL HOLDINGS ACQUISITN CORPEARL HOLDINGS ACQUISITN COR	12,479	$196K	0.05%	new
DMYYDMY SQUARED TECHNOLOGY GROUP I	13,264	$192K	0.04%	0	Timeline
DLTRDOLLAR TREE INC	2,000	$190K	0.04%	new	Timeline
LYTSLSI INDS INC OHIO	8,400	$183K	0.04%	new	Timeline
FNFFIDELITY NATL FINL INC	2,100	$176K	0.04%	new	Timeline
NORTHVIEW ACQUISITION CORPNORTHVIEW ACQUISITION CORP	10,610	$171K	0.04%	new
CHUY'S HOLDINGS INCCHUY'S HOLDINGS INC	2,900	$147K	0.03%	new
TONTUGRAF GLOBAL CORP	10,000	$139K	0.03%	0	Timeline
CANTOR EQUITY PARTNERS INCCANTOR EQUITY PARTNERS INC	10,000	$136K	0.03%	new
CHAIN BRIDGE ICHAIN BRIDGE I	7,102	$108K	0.02%	new
ATEXANTERIX INC	2,000	$102K	0.02%	0	Timeline
PROFPROFOUND MED CORP	9,400	$101K	0.02%	+2,100	Timeline
EDDMORGAN STANLEY EMERGING MKTS	14,146	$96.4K	0.02%	-502,544	Timeline
QETAQUETTA ACQUISITION CORP	6,195	$87.2K	0.02%	0	Timeline
LSPDLIGHTSPEED COMMERCE INC	3,700	$82.5K	0.02%	+1,300	Timeline
THOUGHTWORKS HOLDING INCTHOUGHTWORKS HOLDING INC	13,726	$82.1K	0.02%	new
ATLANTIC COASTAL AQSTN CORPATLANTIC COASTAL AQSTN CORP	5,193	$78.7K	0.02%	new
NXENEXGEN ENERGY LTD	8,000	$70.6K	0.02%	+2,600	Timeline
MSOSADVISORSHARES TR	7,200	$69.8K	0.02%	0	Timeline
VOYAGER ACQUISITION CORPVOYAGER ACQUISITION CORP	5,000	$67.6K	0.02%	new
GAN LTDGAN LTD	27,450	$65.7K	0.02%	-58,720
GTLBGITLAB INC	900	$62.7K	0.01%	new	Timeline
BLEUACACIA LTDBLEUACACIA LTD	3,721	$55.7K	0.01%	new
TERRITORAL BANCORP INCTERRITORAL BANCORP INC	2,917	$41.2K	0.01%	new
SPIRIT AIRLS INCSPIRIT AIRLS INC	12,346	$40.1K	0.01%	new
SDCL EDGE ACQUISITION CORPSDCL EDGE ACQUISITION CORP	1,000	$15.4K	<0.01%	new
AULT DISRUPTIVE TECHS CORPAULT DISRUPTIVE TECHS CORP	504	$7.61K	<0.01%	new
DUET ACQUISITION CORPDUET ACQUISITION CORP	305	$4.9K	<0.01%	0
TLGYFTLGY ACQUISITION CORP ORD SHS	177	$2.76K	<0.01%	0	Timeline
ONYX ACQUISITION CO IONYX ACQUISITION CO I	100	$1.53K	<0.01%	new
GORES HOLDINGS IX INCGORES HOLDINGS IX INC	106	$1.52K	<0.01%	new
XEMDXWESTERN ASSET EMERGING MKTS	28	$386	<0.01%	-3,170	Timeline
LANVIN GROUP HOLDINGS LIMITELANVIN GROUP HOLDINGS LIMITE	2,500	$86	<0.01%	0
SILVERBOX CORP IIISILVERBOX CORP III	333	$45	<0.01%	0
JWSWFJAWS MUSTANG ACQUISITION CORP	250	$11	<0.01%	0	Timeline

Principal amounts

Notes and convertibles filed as a face amount (PRN). A face amount is never added to a share count (H6).

Security	Type	Amount	Value	Change
Esperion Therapeutics IncEsperion Therapeutics Inc NOTE 4.000%11/15/25	principal	40,429,000	$52.9M	0
FIRST MAJESTIC SILVER CORPFIRST MAJESTIC SILVER CORP NOTE 0.375% 1/1	principal	37,650,000	$44.9M	-600,000
EQUINOX GOLD CORPEQUINOX GOLD CORP NOTE 4.750%10/1	principal	16,939,000	$28.6M	new
REVANCE THERAPEUTICS INCREVANCE THERAPEUTICS INC BOND	principal	21,450,000	$24.9M	+8,950,000
SSR Mining IncSSR Mining Inc Convertible bond	principal	18,987,000	$24M	0
BANDWIDTH INCBANDWIDTH INC NOTE 0.500% 4/0	principal	21,250,000	$22.6M	-5,450,000
BEYOND MEAT INCBEYOND MEAT INC NOTE 3/1	principal	39,550,000	$9.09M	+20,000,000
CARDLYTICS INCCARDLYTICS INC BOND	principal	4,500,000	$5.6M	0
CABLE ONE INCCABLE ONE INC NOTE	principal	5,000,000	$5.48M	-5,000,000
MAGNITE INCMAGNITE INC NOTE 0.250% 3/1	principal	4,225,000	$5.32M	0
SPIRIT AIRLS INCSPIRIT AIRLS INC NOTE 1.000% 5/1	principal	10,850,000	$4.63M	new
EVENTBRITE INCEVENTBRITE INC NOTE 0.750% 9/1	principal	3,500,000	$4.11M	0
CABLE ONE INCCABLE ONE INC NOTE 3/1	principal	3,175,000	$3.95M	0
IRONWOOD PHARMACEUTICALS INCIRONWOOD PHARMACEUTICALS INC NOTE 1.500% 6/1	principal	3,000,000	$3.61M	new
ACCELERATE DIAGNOSTICS INCACCELERATE DIAGNOSTICS INC NOTE 5.000%12/1	principal	2,045,144	$1.12M	0

Sold out in Q3 2024

Positions in the previous quarter's report that this quarter's report no longer lists.

Security	Shares before	Value before	Type
AVNWAVIAT NETWORKS INC	129,524	$5.08M	shares
EVERBRIDGE INCEVERBRIDGE INC	26,000	$1.24M	shares
DECISIONPOINT SYS INC NEWDECISIONPOINT SYS INC NEW	64,185	$896K	shares
WHOLE EARTH BRANDS INCWHOLE EARTH BRANDS INC	122,400	$814K	shares
VERICITY INCVERICITY INC	50,967	$797K	shares
EDRENDEAVOR GROUP HLDGS INC	21,300	$788K	shares
NATIONAL WESTN LIFE GROUP INNATIONAL WESTN LIFE GROUP IN	1,100	$748K	shares
ATRION CORPORATIONATRION CORPORATION	1,100	$681K	shares
NOANORTH AMERN CONSTR GROUP LTD	21,780	$575K	shares
ENCORE WIRE CORPENCORE WIRE CORP	1,300	$515K	shares
CODORUS VY BANCORP INCCODORUS VY BANCORP INC	15,100	$497K	shares
CEREVEL THERAPEUTICS HLDNG ICEREVEL THERAPEUTICS HLDNG I	8,600	$481K	shares
CALIFORNIA BANCORP INCCALIFORNIA BANCORP INC	14,100	$415K	shares
DGDOLLAR GEN CORP	2,260	$409K	shares
WALKME LTD ORD SHSWALKME LTD ORD SHS	20,900	$399K	shares
HIBBETT INCHIBBETT INC	3,300	$394K	shares
SILK ROAD MEDICAL INCSILK ROAD MEDICAL INC	10,500	$388K	shares
OVERSEAS SHIPHOLDING GROUP IOVERSEAS SHIPHOLDING GROUP I	27,800	$323K	shares
CALLIDITAS THERAPEUTICS AB …CALLIDITAS THERAPEUTICS AB SPONSE…	6,000	$320K	shares
ALIMERA SCIENCES INCALIMERA SCIENCES INC	39,300	$299K	shares
U S SILICA HLDGS INCU S SILICA HLDGS INC	14,100	$298K	shares
OLINK HLDG ABOLINK HLDG AB	8,000	$279K	shares
AKILI INCAKILI INC	454,970	$271K	shares
CATALENT INC USD 0.01CATALENT INC USD 0.01	3,200	$246K	shares
FOCUS IMPACT BH3 ACQUISITIONFOCUS IMPACT BH3 ACQUISITION	16,066	$234K	shares
EGANEGAIN CORP	27,000	$233K	shares
MGRCMCGRATH RENTCORP	1,370	$200K	shares
DOMA HOLDINGS INCDOMA HOLDINGS INC	23,620	$196K	shares
CONSOLIDATED COMMUNICATIONSCONSOLIDATED COMMUNICATIONS	32,400	$195K	shares
ALLEGO N VALLEGO N V	82,231	$189K	shares
HAWAIIAN HOLDINGS INCHAWAIIAN HOLDINGS INC	10,000	$170K	shares
BCEBCE INC	1,758	$77.9K	shares
BYNORDIC ACQUISITION CL A O…BYNORDIC ACQUISITION CL A ORD	4,409	$68.1K	shares
SEESEALED AIR CORP NEW	1,200	$57.1K	shares
INTERNATIONAL MEDIA ACQUISITINTERNATIONAL MEDIA ACQUISIT	3,280	$52.1K	shares
WELSBACH TECH METALS ACQU COWELSBACH TECH METALS ACQU CO	2,100	$31.9K	shares
CLOVER LEAF CAPITAL CORPCLOVER LEAF CAPITAL CORP	879	$14.7K	shares
SILVERBOX CORP IIISILVERBOX CORP III	1,000	$14.5K	shares
CHRDCHORD ENERGY CORPORATION	8	$1.83K	shares
SUPERIOR DRILLING PRODS INCSUPERIOR DRILLING PRODS INC	300	$534	shares
QOMOLANGMA ACQUISITION CORPQOMOLANGMA ACQUISITION CORP	32	$461	shares
CDAQFCOMPASS DIGITAL ACQ.CORP ORD S	7	$104	shares
VLDXWVELO3D INC WT EXP 12/01/25 (DE	5,000	$96	shares

How Q3 2024 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

Filing	Role	Amendment	Filed	Accepted	Ingested
13F-HR 0001706164-24-000007	base		2024-11-14	acceptance time not in the bulk data set	2026-10-07 18:26:56 UTC