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Livermore
Livermore
ZHEN

PenderFund Capital Management Ltd.

SEC CIK
0001706164
Latest filing
Aug 14, 2026

The latest 13F from PenderFund Capital Management Ltd. covers Q2 2026 (filed Aug 14, 2026): 231 long positions worth $780.1M. The top 10 holdings make up 52.1% of the portfolio, and the largest is Northern Oil & Gas, Inc. at 8.3%. Livermore has 23 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
69
Est. +$106.6M
Added
76
Est. +$22.7M
Reduced
41
Est. −$39.9M
Sold out
91
Est. −$60.4M

Top 5 holdings

Share of this quarter's portfolio value

  1. Northern Oil & Gas, Inc.665531AJ8
    8.3%$64.9M
  2. Fluence Energy, Inc.34379VAB9
    7.8%$60.9M
  3. First Majestic Silver Corp32076VAD5
    6.2%$48.4M
  4. Vertex, Inc.92538JAB2
    5.7%$44.8M
  5. Wolfspeed, Inc.977852AP7
    5.2%$40.7M

Share of portfolio

Top 5 holdings and the other 226 positions, by share of portfolio value

  1. Northern Oil & Gas, Inc.8.3%
  2. Fluence Energy, Inc.7.8%
  3. First Majestic Silver Corp6.2%
  4. Vertex, Inc.5.7%
  5. Wolfspeed, Inc.5.2%
  6. Other 226 positions66.7%

Biggest buys

New and added positions, by estimated amount bought

  1. Vertex, Inc.92538JAB2
    +$44.8MNew
  2. WEATTeucrium Commodity Trust
    +$15.3MNewHistory
  3. iRhythm Holdings, Inc.450056AB2
    +$10.2MNew
  4. Southern Co842587ED5
    +$10.1MNew
  5. SANGSangoma Technologies Corp
    +$5.97MAddedHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. Vertex, Inc.92538JAB2
    +5.74 pp0.0% → 5.7%
  2. WEATTeucrium Commodity Trust
    +1.97 pp0.0% → 2.0%History
  3. iRhythm Holdings, Inc.450056AB2
    +1.31 pp0.0% → 1.3%
  4. Southern Co842587ED5
    +1.30 pp0.0% → 1.3%
  5. Omnicell Com68213NAF6
    +0.46 pp0.0% → 0.5%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. Duke Energy CORP26441CBY0
    −$28.1MSold out
  2. EQXEquinox Gold Corp.
    −$11.7MSold outHistory
  3. PPLTabrdn Platinum ETF Trust
    −$11.3MReducedConverted for a 10-for-1 splitHistory
  4. MDAMDA Space Ltd.
    −$10.4MReducedHistory
  5. TSATTelesat Corp
    −$7.15MReducedHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. Duke Energy CORP26441CBY0
    −4.39 pp4.4% → 0.0%
  2. PPLTabrdn Platinum ETF Trust
    −3.02 pp4.5% → 1.4%History
  3. EQXEquinox Gold Corp.
    −1.84 pp1.8% → 0.0%History
  4. Super Micro Computer, Inc.86800UAD6
    −0.82 pp0.8% → 0.0%
  5. MDAMDA Space Ltd.
    −0.76 pp1.7% → 1.0%History

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$780.1M
+$141.5M (+22.2%) vs. prior quarter
Positions
231
−22 vs. prior quarter
Top 10 concentration
52.1%
Top 10 as share of value
Turnover
14.1%
Q2 2026, one quarter
Average holding period
5.4 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

22 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $780.1M (Q2 2026)

Q1 2021: $411.8MQ2 2021: $427.2MQ3 2021: $382.7MQ4 2021: $440.5MQ1 2022: $408.3MQ2 2022: $361.7MQ3 2022: $319.7MQ4 2022: $335.4MQ1 2023: $318.4MQ2 2023: $321.7MQ3 2023: $333.7MQ4 2023: $306.8MQ1 2024: $364.8MQ2 2024: $363.9MQ3 2024: $434.2MQ4 2024: $465.4MQ1 2025: $118.4MQ2 2025: $422.5MQ3 2025: $592.7MQ4 2025: $634.7MQ1 2026: $638.6MQ2 2026: $780.1M
Q1 2021Q2 2026
13F filings of PenderFund Capital Management Ltd. by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 14, 2026231$780.1MNorthern Oil & Gas, Inc.Fluence Energy, Inc.First Majestic Silver Corpvs. Q1 2026SEC
Q1 2026May 15, 2026253$638.6MFirst Majestic Silver CorpNorthern Oil & Gas, Inc.Fluence Energy, Inc.vs. Q4 2025SEC
Q4 2025Feb 17, 2026219$634.7MFirst Majestic Silver CorpPPLTEQXvs. Q3 2025SEC
Q3 2025Nov 14, 2025207$592.7MFirst Majestic Silver CorpPPLTEQXvs. Q2 2025SEC
Q2 2025Aug 14, 2025159$422.5MFirst Majestic Silver CorpPPLTDuke Energy CORPvs. Q1 2025SEC
Q1 2025Aug 14, 2025Amended142$118.4MSunnova Energy Intl Inc.FETPARvs. Q4 2024SEC
Q4 2024Feb 14, 2025129$465.4MFirst Majestic Silver CorpSANGRevance Therapeutics, Inc.vs. Q3 2024SEC
Q3 2024Nov 14, 2024137$434.2MEsperion Therapeutics Inc NeFirst Majestic Silver CorpEquinox Gold Corp.vs. Q2 2024SEC
Q2 2024Aug 14, 2024126$363.9MEsperion Therapeutics Inc NeFirst Majestic Silver CorpBandwidth Inc.vs. Q1 2024SEC
Q1 2024May 15, 2024116$364.8MEsperion Therapeutics Inc NeFirst Majestic Silver CorpBandwidth Inc.vs. Q4 2023SEC
Q4 2023Feb 14, 2024105$306.8MEsperion Therapeutics Inc NeFirst Majestic Silver CorpSSR MNG Incvs. Q3 2023SEC
Q3 2023Nov 14, 2023112$333.7MEsperion Therapeutics Inc NeFirst Majestic Silver CorpOpko Health, Inc.vs. Q2 2023SEC
Q2 2023Aug 11, 2023114$321.7MEsperion Therapeutics Inc NeOpko Health, Inc.First Majestic Silver Corpvs. Q1 2023SEC
Q1 2023May 15, 2023130$318.4MFirst Majestic Silver CorpOpko Health, Inc.Paratek Pharmaceuticals, Inc.vs. Q4 2022SEC
Q4 2022Feb 10, 2023140$335.4MForum Energy Technologies INParatek Pharmaceuticals, Inc.Opko Health, Inc.vs. Q3 2022SEC
Q3 2022Nov 14, 2022179$319.7MEsperion Therapeutics Inc NeForum Energy Technologies INParatek Pharmaceuticals, Inc.vs. Q2 2022SEC
Q2 2022Aug 15, 2022179$361.7MEsperion Therapeutics Inc NeForum Energy Technologies INIntrexon Corpvs. Q1 2022SEC
Q1 2022May 17, 2022172$408.3MSANGParatek Pharmaceuticals, Inc.Intrexon Corpvs. Q4 2021SEC
Q4 2021Feb 16, 2022157$440.5MSANGParatek Pharmaceuticals, Inc.Intrexon Corpvs. Q3 2021SEC
Q3 2021Nov 15, 2021140$382.7MParatek Pharmaceuticals, Inc.BURIntrexon Corpvs. Q2 2021SEC
Q2 2021Aug 13, 202188$427.2MParatek Pharmaceuticals, Inc.BURZvs. Q1 2021SEC
Q1 2021May 10, 202192$411.8MParatek Pharmaceuticals, Inc.BURSSNC–SEC

13D and 13G filings

Companies where PenderFund Capital Management Ltd. reports owning 5% or more on Schedule 13D or 13G, and its latest filings.

Current stakes of 5% or more

1 company, largest stake first.

Companies where PenderFund Capital Management Ltd. owns 5% or more
CompanyLatest formStakeChangeFirst filedLatest filingFiling
GFUZGeneral Fusion Group Ltd.13G10.00%6.36M sharesNewAug 10, 20261 filingAug 10, 2026SEC

Latest filings

5 filings on file made by PenderFund Capital Management Ltd. or listing it as a reporting person, newest first.

Schedule 13D and 13G filings by PenderFund Capital Management Ltd.
CompanyFiled (ET)FormStakeChangeEvent dateFiling
WEATTeucrium Commodity TrustSep 4, 202612:03 PM ET13G/A2.90%350.0K shares−2.70 ppfrom 5.60%Below 5%Aug 31, 2026SEC
GFUZGeneral Fusion Group Ltd.Aug 10, 20269:08 PM ET13G10.00%6.36M sharesNewAug 10, 2026SEC
WEATTeucrium Commodity TrustApr 10, 20263:59 PM ET13G/A5.60%696.0K shares−7.30 ppfrom 12.90%Sep 30, 2025SEC
WEATTeucrium Commodity TrustOct 10, 20255:46 PM ET13G12.90%3.48M sharesNewSep 30, 2025SEC
Leaf Group Ltd.Jan 12, 202113DOld format–New–SEC