# Pembroke Management, LTD

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1063497. Source: https://holderbook.com/funds/1063497-pembroke-management-ltd/

- Reported value: $1.4B
- Positions: 100
- Weight of the ten largest: 44.5%
- Filed: 2026-07-22

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| EVERPURE INC | [P](https://holderbook.com/stocks/P/) | $78.4M | 995,046 | 5.6% | 15 |
| MODINE MFG CO | [MOD](https://holderbook.com/stocks/MOD/) | $76.8M | 287,798 | 5.4% | 4 |
| MONOLITHIC PWR SYS INC | [MPWR](https://holderbook.com/stocks/MPWR/) | $73.5M | 53,142 | 5.2% | 31 |
| FEDERAL SIGNAL CORP | [FSS](https://holderbook.com/stocks/FSS/) | $72.8M | 566,774 | 5.2% | 11 |
| RESIDEO TECHNOLOGIES INC | [REZI](https://holderbook.com/stocks/REZI/) | $70.0M | 2,250,194 | 5.0% | 8 |
| VSE CORP | [VSEC](https://holderbook.com/stocks/VSEC/) | $68.1M | 298,228 | 4.8% | 2 |
| GLOBUS MED INC | [GMED](https://holderbook.com/stocks/GMED/) | $63.0M | 797,720 | 4.5% | 29 |
| WATSCO INC | [WSO](https://holderbook.com/stocks/WSO/) | $42.2M | 101,328 | 3.0% | 26 |
| MDA SPACE LTD | [MDA](https://holderbook.com/stocks/MDA/) | $42.0M | 1,016,988 | 3.0% | 2 |
| HAGERTY INC | [HGTY](https://holderbook.com/stocks/HGTY/) | $40.6M | 3,405,852 | 2.9% | 7 |
| OLLIES BARGAIN OUTLET HLDGS | [OLLI](https://holderbook.com/stocks/OLLI/) | $38.8M | 504,674 | 2.7% | 9 |
| AAON INC | [AAON](https://holderbook.com/stocks/AAON/) | $37.7M | 296,806 | 2.7% | 9 |
| INSTALLED BLDG PRODS INC | [IBP](https://holderbook.com/stocks/IBP/) | $37.2M | 161,726 | 2.6% | 31 |
| VERSABANK NEW | [VBNK](https://holderbook.com/stocks/VBNK/) | $35.3M | 1,519,740 | 2.5% | 9 |
| LOUISIANA PAC CORP | [LPX](https://holderbook.com/stocks/LPX/) | $34.2M | 434,514 | 2.4% | 3 |
| ENPHASE ENERGY INC | [ENPH](https://holderbook.com/stocks/ENPH/) | $34.1M | 691,740 | 2.4% | 2 |
| SAIA INC | [SAIA](https://holderbook.com/stocks/SAIA/) | $33.4M | 79,198 | 2.4% | 2 |
| SITEONE LANDSCAPE SUPPLY INC | [SITE](https://holderbook.com/stocks/SITE/) | $31.1M | 271,930 | 2.2% | 31 |
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $30.8M | 41,132 | 2.2% | 29 |
| HEALTHCARE SVCS GROUP INC | [HCSG](https://holderbook.com/stocks/HCSG/) | $25.7M | 1,046,450 | 1.8% | 2 |
| LIGAND PHARMACEUTICALS INC | [LGND](https://holderbook.com/stocks/LGND/) | $25.5M | 80,554 | 1.8% | 1 |
| DORMAN PRODS INC | [DORM](https://holderbook.com/stocks/DORM/) | $22.8M | 167,078 | 1.6% | 27 |
| TIMKEN CO | [TKR](https://holderbook.com/stocks/TKR/) | $21.6M | 148,514 | 1.5% | 1 |
| IMAX CORP | [IMAX](https://holderbook.com/stocks/IMAX/) | $21.2M | 531,783 | 1.5% | 11 |
| CORE & MAIN INC | [CNM](https://holderbook.com/stocks/CNM/) | $21.1M | 437,414 | 1.5% | 13 |
| RED VIOLET INC | [RDVT](https://holderbook.com/stocks/RDVT/) | $16.9M | 265,562 | 1.2% | 8 |
| DUTCH BROS INC | [BROS](https://holderbook.com/stocks/BROS/) | $16.5M | 229,500 | 1.2% | 3 |
| OBSIDIAN ENERGY LTD | [OBE](https://holderbook.com/stocks/OBE/) | $16.1M | 1,980,528 | 1.1% | 2 |
| DESCARTES SYS GROUP INC | [DSGX](https://holderbook.com/stocks/DSGX/) | $14.4M | 207,962 | 1.0% | 31 |
| AXOS FINANCIAL INC | [AX](https://holderbook.com/stocks/AX/) | $13.9M | 143,152 | 1.0% | 30 |
| VICTORY CAP HLDGS INC DEL | [VCTR](https://holderbook.com/stocks/VCTR/) | $13.6M | 161,424 | 1.0% | 9 |
| GILDAN ACTIVEWEAR INC | [GIL](https://holderbook.com/stocks/GIL/) | $12.7M | 246,794 | 0.9% | 9 |
| PORCH GROUP INC | [PRCH](https://holderbook.com/stocks/PRCH/) | $12.4M | 823,718 | 0.9% | 2 |
| CRA INTL INC | [CRAI](https://holderbook.com/stocks/CRAI/) | $12.2M | 85,574 | 0.9% | 31 |
| UNIVERSAL TECHNICAL INST INC | [UTI](https://holderbook.com/stocks/UTI/) | $11.8M | 275,986 | 0.8% | 17 |
| BOYD GROUP SERVICES INC | [BGSI](https://holderbook.com/stocks/BGSI/) | $10.6M | 111,721 | 0.7% | 3 |
| PENNANT GROUP INC | [PNTG](https://holderbook.com/stocks/PNTG/) | $10.3M | 278,846 | 0.7% | 2 |
| ISHARES TR | [IEFA](https://holderbook.com/stocks/IEFA/) | $9.9M | 102,450 | 0.7% | 29 |
| OUSTER INC | [OUST](https://holderbook.com/stocks/OUST/) | $9.8M | 157,480 | 0.7% | 1 |
| TELESAT CORP | [TSAT](https://holderbook.com/stocks/TSAT/) | $9.3M | 183,478 | 0.7% | 2 |
| WINGSTOP INC | [WING](https://holderbook.com/stocks/WING/) | $9.1M | 52,458 | 0.6% | 1 |
| ISHARES INC | [IEMG](https://holderbook.com/stocks/IEMG/) | $8.0M | 96,426 | 0.6% | 15 |
| CELLEBRITE DI LTD | [CLBT](https://holderbook.com/stocks/CLBT/) | $7.4M | 506,737 | 0.5% | 10 |
| MAIN STR CAP CORP | [MAIN](https://holderbook.com/stocks/MAIN/) | $6.9M | 132,558 | 0.5% | 10 |
| LIFE TIME GROUP HOLDINGS INC | [LTH](https://holderbook.com/stocks/LTH/) | $6.8M | 165,918 | 0.5% | 1 |
| FIVE BELOW INC | [FIVE](https://holderbook.com/stocks/FIVE/) | $6.5M | 36,388 | 0.5% | 4 |
| VERSIGENT PLC | [VGNT](https://holderbook.com/stocks/VGNT/) | $6.5M | 155,684 | 0.5% | 1 |
| ESQUIRE FINL HLDGS INC | [ESQ](https://holderbook.com/stocks/ESQ/) | $5.8M | 48,740 | 0.4% | 1 |
| ISHARES INC | [EUSA](https://holderbook.com/stocks/EUSA/) | $5.4M | 47,246 | 0.4% | 4 |
| ROYAL BK CDA | [RY](https://holderbook.com/stocks/RY/) | $5.3M | 25,676 | 0.4% | 19 |
| WASTE CONNECTIONS INC | [WCN](https://holderbook.com/stocks/WCN/) | $5.1M | 30,666 | 0.4% | 3 |
| CPI CARD GROUP INC | [PMTS](https://holderbook.com/stocks/PMTS/) | $5.0M | 239,900 | 0.4% | 15 |
| AAR CORP | [AIR](https://holderbook.com/stocks/AIR/) | $4.7M | 32,984 | 0.3% | 2 |
| REPLIGEN CORP | [RGEN](https://holderbook.com/stocks/RGEN/) | $4.4M | 31,886 | 0.3% | 1 |
| BOBS DISC FURNITURE INC | [BOBS](https://holderbook.com/stocks/BOBS/) | $3.9M | 248,792 | 0.3% | 2 |
| RB GLOBAL INC | [RBA](https://holderbook.com/stocks/RBA/) | $3.2M | 27,816 | 0.2% | 1 |
| 10X GENOMICS INC | [TXG](https://holderbook.com/stocks/TXG/) | $3.2M | 82,793 | 0.2% | 1 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $2.8M | 14,032 | 0.2% | 5 |
| CREXENDO INC | [CXDO](https://holderbook.com/stocks/CXDO/) | $2.7M | 366,342 | 0.2% | 5 |
| SHOPIFY INC | [SHOP](https://holderbook.com/stocks/SHOP/) | $2.4M | 21,168 | 0.2% | 11 |
| FIRSTSERVICE CORP NEW | [FSV](https://holderbook.com/stocks/FSV/) | $1.8M | 12,660 | 0.1% | 16 |
| FERGUSON ENTERPRISES INC | [FERG](https://holderbook.com/stocks/FERG/) | $1.6M | 6,892 | 0.1% | 5 |
| BK TECHNOLOGIES CORPORATION | [BKTI](https://holderbook.com/stocks/BKTI/) | $1.6M | 18,684 | 0.1% | 4 |
| CAE INC | [CAE](https://holderbook.com/stocks/CAE/) | $1.6M | 63,645 | 0.1% | 9 |
| HUDBAY MINERALS INC | [HBM](https://holderbook.com/stocks/HBM/) | $1.5M | 65,002 | 0.1% | 1 |
| BOWMAN CONSULTING GROUP LTD | [BWMN](https://holderbook.com/stocks/BWMN/) | $1.5M | 51,411 | 0.1% | 19 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $1.5M | 3,890 | 0.1% | 5 |
| WHEATON PRECIOUS METALS CORP | [WPM](https://holderbook.com/stocks/WPM/) | $1.4M | 12,768 | 0.1% | 19 |
| TRANSDIGM GROUP INC | [TDG](https://holderbook.com/stocks/TDG/) | $1.3M | 998 | 0.1% | 5 |
| LINDE PLC | [LIN](https://holderbook.com/stocks/LIN/) | $1.3M | 2,554 | 0.1% | 5 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $1.2M | 4,143 | 0.1% | 6 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $1.2M | 974 | 0.1% | 4 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $1.1M | 4,815 | 0.1% | 7 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $1.1M | 3,161 | 0.1% | 5 |
| MONGODB INC | [MDB](https://holderbook.com/stocks/MDB/) | $992.9K | 2,956 | 0.1% | 5 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $932.7K | 1,816 | 0.1% | 5 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $899.0K | 1,596 | 0.1% | 5 |
| OREILLY AUTOMOTIVE INC | [ORLY](https://holderbook.com/stocks/ORLY/) | $885.2K | 9,612 | 0.1% | 5 |
| BROOKFIELD CORP | [BN](https://holderbook.com/stocks/BN/) | $879.4K | 20,648 | 0.1% | 15 |
| ASML HLDG NV | [ASML](https://holderbook.com/stocks/ASML/) | $877.3K | 441 | 0.1% | 5 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $869.2K | 7,674 | 0.1% | 4 |
| GE AEROSPACE | [GE](https://holderbook.com/stocks/GE/) | $853.6K | 2,284 | 0.1% | 2 |
| ON HLDG AG | [ONON](https://holderbook.com/stocks/ONON/) | $783.8K | 22,128 | 0.1% | 4 |
| IDEXX LABS INC | [IDXX](https://holderbook.com/stocks/IDXX/) | $760.2K | 1,444 | 0.1% | 5 |
| TRANE TECHNOLOGIES PLC | [TT](https://holderbook.com/stocks/TT/) | $725.9K | 1,478 | 0.1% | 5 |
| SPOTIFY TECHNOLOGY S A | [SPOT](https://holderbook.com/stocks/SPOT/) | $696.0K | 1,516 | 0.0% | 5 |
| PUBLIC STORAGE | [PSA](https://holderbook.com/stocks/PSA/) | $695.8K | 2,186 | 0.0% | 5 |
| AGNICO EAGLE MINES LTD | [AEM](https://holderbook.com/stocks/AEM/) | $694.7K | 4,478 | 0.0% | 11 |
| OLD DOMINION FREIGHT LINE IN | [ODFL](https://holderbook.com/stocks/ODFL/) | $657.6K | 3,036 | 0.0% | 1 |
| ALAMOS GOLD INC | [AGI](https://holderbook.com/stocks/AGI/) | $656.2K | 21,627 | 0.0% | 11 |
| RTX CORPORATION | [RTX](https://holderbook.com/stocks/RTX/) | $646.6K | 3,408 | 0.0% | 2 |
| FREEPORT-MCMORAN INC | [FCX](https://holderbook.com/stocks/FCX/) | $626.8K | 9,966 | 0.0% | 2 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $624.2K | 1,770 | 0.0% | 4 |
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $611.8K | 1,472 | 0.0% | 1 |
| ARM HOLDINGS PLC | [ARM](https://holderbook.com/stocks/ARM/) | $601.4K | 1,696 | 0.0% | 1 |
| PROGRESSIVE CORP | [PGR](https://holderbook.com/stocks/PGR/) | $471.4K | 2,158 | 0.0% | 5 |
| SHERWIN WILLIAMS CO | [SHW](https://holderbook.com/stocks/SHW/) | $427.6K | 1,242 | 0.0% | 1 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $424.7K | 454 | 0.0% | 3 |
| CADENCE DESIGN SYSTEM INC | [CDNS](https://holderbook.com/stocks/CDNS/) | $399.3K | 1,064 | 0.0% | 4 |
| COPART INC | [CPRT](https://holderbook.com/stocks/CPRT/) | $241.6K | 8,569 | 0.0% | 4 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| 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% |
| Q3 2024 | +6.1% | +5.4% | +0.7% | 98% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $1.4B | 100 |
| Q1 2026 | $691.4M | 97 |
| Q4 2025 | $967.9M | 92 |
| Q3 2025 | $1.0B | 89 |
| Q2 2025 | $826.7M | 78 |
| Q1 2025 | $685.8M | 59 |
| Q4 2024 | $802.0M | 60 |
| Q3 2024 | $784.1M | 58 |
| Q2 2024 | $744.4M | 62 |
| Q1 2024 | $849.9M | 61 |
| Q4 2023 | $805.5M | 62 |
| Q3 2023 | $732.4M | 58 |