PenderFund Capital Management Ltd.

CIK 0001706164 · Q2 2026

13F Equity AUM

$780.1M

+22.2% QoQ

Positions

228

-21 QoQ

AUM Rank

#2,814

Top 32%

Skill Alpha (FF)

-10.3%/yr^ns

No Clear Edge

Rank #8,071 · Top 97%

vs S&P -11.7%/yr (unadj.)

Quarters Tracked

~8 years

Portfolio Concentration

Top 5: 33.3%Top 10: 52.1%Top 20: 73.5%

NOG 3.625 04/15/298.3%

FLNC 2.25 06/15/307.8%

AGCN 0.375 01/15/276.2%

VERX 0.75 05/01/295.7%

WOLF 2.5 06/15/315.2%

SO 4.5 06/15/274.3%

EVH 3.5 12/01/294.0%

BABA 0.5 06/01/313.8%

NIO 4.625 10/15/303.5%

NIO 3.875 10/15/293.3%

Others (218)47.9%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Technology18.5%

Financial Services16.9%

Fixed Income15.8%

Healthcare12.3%

Basic Materials9.3%

Consumer Cyclical9.2%

Utilities9.1%

Unclassified3.0%

Other6.0%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 228Median: 0.05%Avg: 0.44%

0–0.5%

198(13.8%)

0.5–1%

3(2.9%)

1–3%

16(27.9%)

3–5%

6(22.1%)

5%+

5(33.3%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 0Unique: 228vs 20 funds

0%Low

228

Fund positions

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

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Position Changes This Quarter

New69Increased84Decreased42Exited90

New Positions

VERX 0.75 05/01/295.7%

+50.0M

WEAT2.0%

+696K

IRTC 1.5 09/01/291.3%

+9.3M

SOUTHERN CO1.3%

+10.0M

OMCL 1 12/01/290.5%

+3.4M

CP0.3%

+27K

AMZN0.2%

+6K

CPRT0.2%

+44K

AEM0.1%

+7K

GS0.1%

+1K

Increased

NOG 3.625 04/15/298.3%

+22.5M(+51%)

BABA 0.5 06/01/313.8%

+20.0M(+400%)

PAR 1.5 10/15/271.8%

+10.0M(+200%)

FLNC 2.25 06/15/307.8%

+10.0M(+27%)

EVH 4.5 08/15/312.4%

+7.9M(+51%)

CDLX 4.25 04/01/292.0%

+6.1M(+13%)

STC2.1%

+1.6M(+55%)

OPK 3.75 01/15/291.6%

+1.2M(+16%)

PPLT1.4%

+640K(+400%)

MOON1.0%

+611K(+108%)

Decreased

NIO 4.625 10/15/303.5%

-2,750,000(-9%)

WOLF 2.5 06/15/315.2%

-1,000,000(-9%)

BUR0.1%

-411,070(-83%)

CLVT0.2%

-283,200(-25%)

MDA1.0%

-252,644(-58%)

TSAT1.4%

-146,000(-39%)

NXE0.2%

-66,600(-25%)

IDEA ACQUISITION COR…0.0%

-24,556(-98%)

WIW1.1%

-24,450(-2%)

MSOS0.0%

-24,300(-60%)

Exited

DUK 4.125 04/15/26

-25,000,000

EQX

-812,500

SUPER MICRO COMPUTER…

-6,000,000

-6,900

-21,594

-8,000

-26,800

-8,526

AM6

-41,100

TPH

-9,900

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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