Pembroke Management, LTD
Reported holdings as of Q3 2026, from 32 quarterly filings.
Holdings
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| Security | Ticker | Value | Shares | Weight | Weight change | Held | Change |
|---|---|---|---|---|---|---|---|
| EVERPURE INC | P | $41.8M | 319,870 | -0.38pp | 16q | -67.9%-$88.3M | |
| MONOLITHIC PWR SYS INC | MPWR | $39.7M | 29,452 | -0.30pp | 32q | -44.6%-$31.9M | |
| FEDERAL SIGNAL CORP | FSS | $33.0M | 297,616 | -1.08pp | 12q | -47.5%-$29.8M | |
| GLOBUS MED INC | GMED | $31.4M | 419,566 | -0.58pp | 30q | -47.4%-$28.3M | |
| MDA SPACE LTD | MDA | $27.7M | 935,558 | +0.45pp | 3q | -8.0%-$2.4M | |
| OLLIES BARGAIN OUTLET HLDGS | OLLI | $26.0M | 303,522 | +0.47pp | 10q | -39.9%-$17.2M | |
| MODINE MFG CO | MOD | $25.7M | 148,871 | -2.27pp | 5q | -48.3%-$23.9M | |
| VSE CORP | VSEC | $25.4M | 154,223 | -1.69pp | 3q | -48.3%-$23.7M | |
| AAON INC | AAON | $25.2M | 304,755 | +0.45pp | 10q | +2.7%+$657.9K | |
| HAGERTY INC | HGTY | $23.6M | 1,755,856 | +0.05pp | 8q | -48.4%-$22.2M | |
| LIGAND PHARMACEUTICALS INC | LGND | $21.7M | 69,350 | +0.87pp | 2q | -13.9%-$3.5M | |
| IMAX CORP | IMAX | $21.5M | 392,339 | +1.16pp | 12q | -26.2%-$7.6M | |
| CORE & MAIN INC | CNM | $19.3M | 465,045 | +0.89pp | 14q | +6.3%+$1.1M | |
| SILICON MOTION TECHNOLOGY CO | SIMO | $18.9M | 67,329 | - | new | NEW | |
| VERSABANK NEW | VBNK | $16.2M | 728,001 | -0.50pp | 10q | -52.1%-$17.6M | |
| INSTALLED BLDG PRODS INC | IBP | $16.0M | 83,525 | -0.65pp | 32q | -48.4%-$15.0M | |
| ISHARES TR | IVV | $15.1M | 19,780 | -0.31pp | 30q | -51.9%-$16.4M | |
| LOUISIANA PAC CORP | LPX | $14.5M | 224,342 | -0.63pp | 4q | -48.4%-$13.6M | |
| DESCARTES SYS GROUP INC | DSGX | $13.7M | 169,685 | +0.68pp | 32q | -18.4%-$3.1M | |
| SAIA INC | SAIA | $13.6M | 40,823 | -0.68pp | 3q | -48.5%-$12.8M | |
| HEALTHCARE SVCS GROUP INC | HCSG | $13.5M | 661,553 | -0.15pp | 3q | -36.8%-$7.9M | |
| MERIT MED SYS INC | MMSI | $13.4M | 155,105 | - | new | NEW | |
| AXOS FINANCIAL INC | AX | $12.8M | 148,387 | +0.60pp | 31q | +3.7%+$453.2K | |
| SITEONE LANDSCAPE SUPPLY INC | SITE | $12.7M | 141,072 | -0.63pp | 32q | -48.1%-$11.8M | |
| OBSIDIAN ENERGY LTD | OBE | $12.0M | 1,161,952 | +0.34pp | 3q | -41.3%-$8.4M | |
| ENPHASE ENERGY INC | ENPH | $11.8M | 358,058 | -0.95pp | 3q | -48.2%-$11.0M | |
| BOYD GROUP SERVICES INC | BGSI | $11.7M | 149,348 | +0.70pp | 4q | +33.7%+$3.0M | |
| GILDAN ACTIVEWEAR INC | GIL | $11.2M | 263,768 | +0.49pp | 10q | +6.9%+$723.6K | |
| DORMAN PRODS INC | DORM | $10.6M | 86,468 | -0.30pp | 28q | -48.2%-$9.9M | |
| TIMKEN CO | TKR | $10.5M | 89,769 | -0.23pp | 2q | -39.6%-$6.9M | |
| WASTE CONNECTIONS INC | WCN | $9.2M | 59,687 | +0.77pp | 4q | +94.6%+$4.5M | |
| CARIS LIFE SCIENCES INC | CAI | $9.2M | 299,793 | - | new | NEW | |
| WATSCO INC | WSO | $9.0M | 29,840 | -1.88pp | 27q | -70.6%-$21.6M | |
| PORCH GROUP INC | PRCH | $7.7M | 461,885 | +0.07pp | 3q | -43.9%-$6.0M | |
| PENNANT GROUP INC | PNTG | $7.4M | 189,687 | +0.18pp | 3q | -32.0%-$3.5M | |
| CRA INTL INC | CRAI | $7.3M | 44,565 | +0.04pp | 32q | -47.9%-$6.7M | |
| CPI CARD GROUP INC | PMTS | $7.0M | 283,741 | +0.51pp | 16q | +18.3%+$1.1M | |
| RED VIOLET INC | RDVT | $6.9M | 86,737 | -0.35pp | 9q | -67.3%-$14.1M | |
| VICTORY CAP HLDGS INC DEL | VCTR | $6.7M | 60,321 | -0.14pp | 10q | -62.6%-$11.2M | |
| CELLEBRITE DI LTD | CLBT | $6.2M | 548,874 | +0.24pp | 11q | +8.3%+$474.5K | |
| SHOPIFY INC | SHOP | $6.1M | 41,215 | +0.58pp | 12q | +94.7%+$3.0M | |
| CAE INC | CAE | $6.0M | 248,563 | +0.63pp | 10q | +290.5%+$4.4M | |
| ROYAL BK CDA | RY | $5.8M | 29,569 | +0.34pp | 20q | +15.2%+$765.3K | |
| WHEATON PRECIOUS METALS CORP | WPM | $5.0M | 37,386 | +0.52pp | 20q | +192.8%+$3.3M | |
| ISHARES TR | IEFA | $5.0M | 51,225 | -0.09pp | 30q | -50.0%-$5.0M | |
| DUTCH BROS INC | BROS | $4.6M | 119,211 | -0.60pp | 4q | -48.1%-$4.3M | |
| VERSIGENT PLC | VGNT | $4.5M | 100,045 | +0.09pp | 2q | -35.7%-$2.5M | |
| ESQUIRE FINL HLDGS INC | ESQ | $4.4M | 38,006 | +0.14pp | 2q | -22.0%-$1.2M | |
| RB GLOBAL INC | RBA | $4.4M | 54,256 | +0.32pp | 2q | +95.1%+$2.2M | |
| REPLIGEN CORP | RGEN | $4.2M | 21,884 | +0.21pp | 2q | -31.4%-$1.9M | |
| TELESAT CORP | TSAT | $4.2M | 90,193 | -0.14pp | 3q | -50.8%-$4.3M | |
| OUSTER INC | OUST | $4.0M | 99,412 | -0.20pp | 2q | -36.9%-$2.3M | |
| MAIN STR CAP CORP | MAIN | $3.8M | 68,822 | -0.02pp | 11q | -48.1%-$3.5M | |
| ALAMOS GOLD INC | AGI | $3.6M | 110,799 | +0.40pp | 12q | +412.3%+$2.9M | |
| BOBS DISC FURNITURE INC COM SHS | BOBS | $3.6M | 256,588 | +0.16pp | 3q | +3.1%+$108.1K | |
| AAR CORP | AIR | $3.5M | 34,137 | +0.09pp | 3q | +3.5%+$117.0K | |
| LIFE TIME GROUP HOLDINGS INC | LTH | $3.4M | 86,303 | -0.05pp | 2q | -48.0%-$3.2M | |
| HUDBAY MINERALS INC | HBM | $3.4M | 126,594 | +0.31pp | 2q | +94.8%+$1.6M | |
| BROOKFIELD CORP | BN | $3.3M | 91,652 | +0.35pp | 16q | +343.9%+$2.6M | |
| AGNICO EAGLE MINES LTD | AEM | $3.2M | 17,433 | +0.35pp | 12q | +289.3%+$2.4M | |
| FIRSTSERVICE CORP NEW | FSV | $3.1M | 24,582 | +0.26pp | 17q | +94.2%+$1.5M | |
| ELECTROVAYA INC | ELVA | $3.0M | 459,272 | - | new | NEW | |
| ISHARES INC | EUSA | $2.8M | 25,442 | -0.03pp | 5q | -46.1%-$2.4M | |
| ENERFLEX LTD | EFXT | $2.8M | 122,576 | - | new | NEW | |
| FIVE BELOW INC | FIVE | $2.7M | 12,468 | -0.13pp | 5q | -65.7%-$5.3M | |
| RESIDEO TECHNOLOGIES INC | REZI | $2.7M | 147,307 | -4.63pp | 9q | -93.5%-$38.2M | |
| TYLER TECHNOLOGIES INC | TYL | $2.6M | 8,313 | - | new | NEW | |
| EXLSERVICE HLDGS INC | EXLS | $2.6M | 76,662 | - | new | NEW | |
| UNIVERSAL TECHNICAL INST INC | UTI | $2.6M | 139,584 | -0.51pp | 18q | -49.4%-$2.5M | |
| AXOGEN INC | AXGN | $2.2M | 53,141 | - | new | NEW | |
| ADI GLOBAL DISTR INC | ADIG | $1.8M | 98,381 | - | new | NEW | |
| CREXENDO INC | CXDO | $1.7M | 294,685 | +0.02pp | 6q | -19.6%-$421.3K | |
| NVIDIA CORPORATION | NVDA | $1.7M | 7,325 | +0.01pp | 6q | -47.8%-$1.5M | |
| ISHARES INC | IEMG | $1.7M | 20,496 | -0.36pp | 16q | -78.7%-$6.2M | |
| BK TECHNOLOGIES CORPORATION | BKTI | $1.6M | 22,010 | +0.09pp | 5q | +17.8%+$247.8K | |
| APPLE INC | AAPL | $1.4M | 4,325 | +0.09pp | 7q | +4.4%+$60.6K | |
| ASML HLDG NV | ASML | $1.4M | 775 | +0.11pp | 6q | +75.7%+$605.1K | |
| AMAZON COM INC | AMZN | $1.3M | 5,364 | +0.08pp | 8q | +11.4%+$136.8K | |
| MICROSOFT CORP | MSFT | $1.2M | 2,253 | +0.04pp | 6q | -42.1%-$839.6K | |
| ALPHABET INC | GOOGL | $1.1M | 3,300 | +0.06pp | 6q | +4.4%+$47.8K | |
| FERGUSON ENTERPRISES INC | FERG | $801.0K | 3,598 | -0.02pp | 6q | -47.8%-$733.3K | |
| LINDE PLC | LIN | $632.7K | 1,333 | -0.02pp | 6q | -47.8%-$579.5K | |
| MASTERCARD INCORPORATED | MA | $605.5K | 1,098 | +0.01pp | 6q | -39.5%-$396.0K | |
| META PLATFORMS INC | META | $604.1K | 833 | +0.01pp | 6q | -47.8%-$553.3K | |
| SPOTIFY TECHNOLOGY S A | SPOT | $594.1K | 1,219 | +0.02pp | 6q | -19.6%-$144.8K | |
| ELI LILLY & CO | LLY | $587.8K | 508 | -0.01pp | 5q | -47.8%-$539.2K | |
| TRANSDIGM GROUP INC | TDG | $564.0K | 521 | -0.02pp | 6q | -47.8%-$516.4K | |
| MONGODB INC | MDB | $537.9K | 1,543 | flat | 6q | -47.8%-$492.6K | |
| ON HLDG AG | ONON | $522.5K | 17,647 | +0.01pp | 5q | -20.3%-$132.7K | |
| ARM HOLDINGS PLC | ARM | $513.0K | 1,771 | +0.02pp | 2q | +4.4%+$21.7K | |
| O'REILLY AUTOMOTIVE INC | ORLY | $428.6K | 5,018 | -0.01pp | 6q | -47.8%-$392.4K | |
| ING GROEP N.V. | ING | $422.4K | 11,900 | - | new | NEW | |
| WALMART INC | WMT | $416.3K | 4,006 | -0.01pp | 5q | -47.8%-$381.2K | |
| TRANE TECHNOLOGIES PLC | TT | $414.0K | 916 | flat | 6q | -38.0%-$254.0K | |
| ISHARES TR | IGRO | $405.8K | 4,572 | - | new | NEW | |
| IDEXX LABS INC | IDXX | $393.2K | 753 | -0.01pp | 6q | -47.9%-$360.8K | |
| GE AEROSPACE | GE | $372.2K | 1,192 | -0.01pp | 3q | -47.8%-$341.0K | |
| CADENCE DESIGN SYSTEM INC | CDNS | $366.8K | 1,111 | +0.02pp | 5q | +4.4%+$15.5K | |
| FREEPORT-MCMORAN INC | FCX | $364.1K | 5,202 | flat | 3q | -47.8%-$333.5K | |
| API GROUP CORP | APG | $363.5K | 9,416 | - | new | NEW | |
| CHUBB LIMITED | CB | $357.8K | 1,100 | - | new | NEW | |
| TAIWAN SEMICONDUCTOR MANUFAC | TSM | $346.7K | 760 | - | new | NEW | |
| UNITEDHEALTH GROUP INC | UNH | $337.3K | 919 | flat | 2q | -37.6%-$203.0K | |
| RTX CORPORATION | RTX | $330.3K | 1,779 | flat | 3q | -47.8%-$302.4K | |
| PUBLIC STORAGE | PSA | $322.7K | 1,141 | -0.01pp | 6q | -47.8%-$295.6K | |
| COPART INC | CPRT | $285.4K | 10,461 | +0.02pp | 5q | +22.1%+$51.6K | |
| OLD DOMINION FREIGHT LINE IN | ODFL | $275.5K | 1,585 | -0.01pp | 2q | -47.8%-$252.2K | |
| SAP SE | SAP | $271.0K | 1,300 | - | new | NEW | |
| HOME DEPOT INC | HD | $262.9K | 924 | -0.01pp | 5q | -47.8%-$240.7K | |
| PROGRESSIVE CORP | PGR | $233.6K | 1,127 | flat | 6q | -47.8%-$213.7K | |
| COSTCO WHOLESALE CORPORATION | COST | $215.8K | 237 | flat | 4q | -47.8%-$197.5K | |
| SHERWIN WILLIAMS CO | SHW | $209.5K | 648 | flat | 2q | -47.8%-$192.0K | |
| ISHARES TR | DGRO | $203.7K | 2,702 | - | new | NEW |
By sector
Industry comes from the SIC code on each company's own SEC filings, which is self-reported and sometimes out of date. Derivative exposure is counted with the shares. Securities the SEC assigns no industry - funds, trusts, foreign issues - are shown as not classified rather than dropped.
| Sector | Value | Share |
|---|---|---|
| Autos & Aerospace | $105.8M | 13.1% |
| Semiconductors & Electronics | $83.8M | 10.4% |
| Business Services | $55.1M | 6.8% |
| Retail & Consumer | $51.3M | 6.3% |
| Medical Devices | $47.0M | 5.8% |
| Wholesale & Distribution | $46.3M | 5.7% |
| Industrials | $43.9M | 5.4% |
| Computer Hardware | $43.3M | 5.4% |
| Banks & Lending | $39.7M | 4.9% |
| Software & IT Services | $39.6M | 4.9% |
| Insurance | $32.3M | 4.0% |
| Construction & Building | $30.5M | 3.8% |
| Other sectors | $164.8M | 20.4% |
| Not classified | $25.2M | 3.1% |
What the disclosed book did
This is not the fund's return. A 13F shows long US equity positions only, so shorts, bonds, foreign listings, private holdings and cash are all invisible here. What this measures is the quarter's change in value of the positions this manager disclosed, had they been left untouched - the return a reader following the filing would have earned.
| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q3 2026 | -7.8% | +2.1% | -9.9% | 100% |
| Q2 2026 | +14.1% | +14.8% | -0.7% | 100% |
| Q1 2026 | -6.6% | -4.6% | -1.9% | 99% |
| Q4 2025 | -5.8% | +2.4% | -8.2% | 100% |
| Q3 2025 | +10.8% | +7.8% | +3.0% | 99% |
| Q2 2025 | +8.1% | +10.5% | -2.4% | 98% |
| Q1 2025 | -11.9% | -4.6% | -7.3% | 98% |
| Q4 2024 | +2.2% | +2.1% | +0.1% | 98% |
Market is SPY over the same two quarter ends, priced the same way as everything else here - the median across every filer reporting it. It is a large-cap US proxy, so a manager holding small caps or biotech will beat or trail it for reasons that are not skill. Prices are quarter-end to quarter-end and say nothing about the path in between, or about trades opened and closed inside a quarter.
Quarter by quarter
| Quarter | Value | Positions | New | Added | Trimmed | Exited | Top 10 | Days to file |
|---|---|---|---|---|---|---|---|---|
| Q3 2026 | $808.5M | 113 | 16 | 28 | 69 | 3 | 37.0% | 21 |
| Q2 2026 | $1.4B | 100 | 15 | 69 | 9 | 12 | 44.5% | 22 |
| Q1 2026 | $691.4M | 97 | 14 | 19 | 55 | 9 | 47.1% | 44 |
| Q4 2025 | $967.9M | 92 | 8 | 43 | 28 | 5 | 43.9% | 43 |
| Q3 2025 | $1.0B | 89 | 14 | 44 | 25 | 3 | 44.4% | 28 |
| Q2 2025 | $826.7M | 78 | 21 | 34 | 18 | 2 | 43.0% | 38 |
| Q1 2025 | $685.8M | 59 | 4 | 23 | 29 | 5 | 40.3% | 45 |
| Q4 2024 | $802.0M | 60 | 4 | 24 | 26 | 2 | 40.6% | 31 |
| Q3 2024 | $784.1M | 58 | 2 | 23 | 26 | 6 | 40.9% | 29 |
| Q2 2024 | $744.4M | 62 | 7 | 18 | 31 | 6 | 40.0% | 32 |
| Q1 2024 | $849.9M | 61 | 3 | 22 | 35 | 4 | 39.6% | 38 |
| Q4 2023 | $805.5M | 62 | 8 | 15 | 36 | 4 | 38.1% | 44 |
| Q3 2023 | $732.4M | 58 | 0 | 10 | 38 | 5 | 36.2% | 39 |
| Q2 2023 | $928.0M | 63 | 3 | 22 | 37 | 3 | 34.9% | 27 |
| Q1 2023 | $914.5M | 63 | 0 | 10 | 41 | 3 | 35.9% | 33 |
| Q4 2022 | $935.0M | 66 | 6 | 19 | 40 | 6 | 33.9% | 32 |
| Q3 2022 | $900.9M | 66 | 4 | 19 | 41 | 2 | 32.2% | 24 |
| Q2 2022 | $967.2M | 64 | 4 | 24 | 27 | 8 | 33.4% | 26 |
| Q1 2022 | $1.2B | 68 | 4 | 43 | 10 | 9 | 30.8% | 36 |
| Q4 2021 | $1.4B | 73 | 12 | 16 | 40 | 6 | 30.8% | 40 |
| Q3 2021 | $1.3B | 67 | 5 | 36 | 12 | 4 | 29.1% | 39 |
| Q2 2021 | $1.3B | 66 | 6 | 21 | 38 | 5 | 28.7% | 42 |
| Q1 2021 | $1.2B | 65 | 8 | 23 | 32 | 4 | 30.1% | 36 |
| Q4 2020 | $1.2B | 61 | 7 | 20 | 34 | 5 | 31.0% | 36 |
| Q3 2020 | $918.0M | 59 | 7 | 19 | 14 | 7 | 34.1% | 35 |
| Q2 2020 | $850.7M | 59 | 5 | 20 | 33 | 4 | 33.9% | 34 |
| Q1 2020 | $629.9M | 58 | 8 | 18 | 31 | 23 | 32.4% | 28 |
| Q4 2019 | $1.2B | 73 | 19 | 19 | 23 | 9 | 26.7% | 29 |
| Q3 2019 | $919.3M | 63 | 7 | 20 | 30 | 5 | 33.9% | 29 |
| Q2 2019 | $947.1M | 61 | 6 | 14 | 32 | 6 | 33.4% | 24 |
| Q1 2019 | $924.7M | 61 | 11 | 19 | 21 | 8 | 32.6% | 12 |
| Q4 2018 | $733.4M | 58 | 0 | 0 | 0 | 0 | 33.1% | 25 |
Rows marked UNVERIFIED ID, PLACEHOLDER ID, TICKER AS ID or NON-CUSIP ID carry an identifier that is not a valid CUSIP. They are shown because the filer reported that money, but treat the security named with caution - hover the chip for what is wrong with it, and see the methodology.
Held counts consecutive filings in which this manager reported the position, and can reach further back than the quarters listed above: the tabs begin at Q4 2018 because earlier coverage is too sparse to describe a market, but tenure is counted over every filing we hold, some reaching to 2007. A position sold and later rebought starts again from one.
Weight change is the shift in this position's share of the whole book, in percentage points. It is the more useful column: when money flows into or out of a broad fund, almost every holding is bought or sold at once, so added and trimmed largely track flows. A weight that rose while the book shrank is a decision. Both compare with the previous quarter this filer reported, not the previous calendar quarter.