PM
Pembroke Management, LTD Quarterly 13F Portfolio Update (Q3 2026)
Pembroke Management, LTDCIK: 0001063497
Diversified strategyMomentum followerQuality / disciplined sizing
Total reported value
$808.5M
Reporting period: 2026-09-30 · Number of holdings: 113
Pembroke Management, LTD disclosed 113 holdings in its latest 13F filing for the period ending 2026-09-30, with total reported value of $808.5M and a quarterly turnover rate of 37.1%.
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Personality snowflake
- Concentration
- 9.1
- Portfolio Stability
- 37.08
- Momentum
- 100
- Sector conviction
- 67.79
- Diversification
- 100
- Sizing Uniformity
- 87.41
Pembroke Management, LTD's disclosed holdings carry a Herfindahl concentration index of 0.023 — mathematically equivalent to about 44 equally-sized positions, well below its 113 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.26), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 65% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govTrim REZI
-86.9% -$32.3M
New buy SIMO
Trim MOD
+3.5% -$12.8M
Trim AAON
+2.7% -$12.4M
New buy MMSI
Trim WSO
-41.1% -$12.1M
Holdings Map
New buyAddUnchangedTrim
* This report is exclusively curated by the AlphaSMO team. AlphaSMO is the web's most authoritative 13F / Inside Trader database, delivering precise insider trading and institutional holdings insights.
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | P | Everpure Inc-a | Stock-Tech | 5.17% | +0.10% | -35.71% | |
| 2 | MPWR | Monolithic Power Systems Inc | Stock-Tech | 4.91% | +0.16% | +10.84% | |
| 3 | FSS | Federal Signal CORP | Stock-Industrials | 4.08% | -0.63% | +5.02% | |
| 4 | GMED | Globus Medical Inc - A | Stock-Healthcare | 3.89% | -0.18% | +5.19% | |
| 5 | MDA | Mda Space LTD | Stock-Other | 3.43% | +0.72% | +83.99% | |
| 6 | OLLI | Ollie's Bargain Outlet Holdi | Stock-Consumer Staples | 3.22% | +0.71% | +20.28% | |
| 7 | MOD | Modine Manufacturing Co | Stock-Consumer Disc | 3.17% | -1.80% | +3.46% | |
| 8 | VSEC | Vse CORP | Stock-Industrials | 3.14% | -1.26% | +3.43% | |
| 9 | AAON | Aaon Inc | Stock-Industrials | 3.12% | -1.75% | +2.68% | |
| 10 | HGTY | Hagerty Inc-a | Stock-Other | 2.92% | +0.30% | +3.11% | |
| 11 | LGND | Ligand Pharmaceuticals | Stock-Healthcare | 2.68% | +1.03% | +72.18% | |
| 12 | IMAX | Imax CORP | Stock-Other | 2.66% | -0.08% | -26.22% | |
| 13 | CNM | Core & Main Inc-class A | Stock-Industrials | 2.39% | -0.34% | +6.32% | |
| 14 | SIMO | Silicon Motion Technol-adr | Stock-Other | 2.33% | +2.33% | NEW | |
| 15 | VBNK | Versabank | Stock-Other | 2.00% | -0.28% | -4.19% | |
| 16 | IBP | Installed Building Products | Stock-Consumer Disc | 1.98% | -0.42% | +3.29% | |
| 17 | IVV | Ishares Core S&p 500 ETF | ETF-Large Cap & Growth | 1.87% | -0.12% | -3.82% | |
| 18 | LPX | Louisiana-pacific CORP | Stock-Industrials | 1.79% | -0.42% | +3.26% | |
| 19 | DSGX | Descartes Systems Grp/the | Stock-Tech | 1.70% | +0.77% | +63.19% | |
| 20 | SAIA | Saia Inc | Stock-Industrials | 1.69% | -0.47% | +3.09% | |
| 21 | HCSG | Healthcare Services Group | Stock-Other | 1.67% | +0.01% | +26.44% | |
| 22 | MMSI | Merit Medical Systems Inc | Stock-Healthcare | 1.65% | +1.65% | NEW | |
| 23 | AX | Axos Financial Inc | Stock-Financials | 1.59% | -0.21% | +3.66% | |
| 24 | SITE | Siteone Landscape Supply Inc | Stock-Industrials | 1.58% | -0.43% | +3.76% | |
| 25 | OBE | Obsidian Energy LTD | Stock-Other | 1.48% | +0.44% | +17.34% | |
| 26 | ENPH | Enphase Energy Inc | Stock-Tech | 1.46% | -0.74% | +3.52% | |
| 27 | BGSI | THE Boyd Group Inc | Stock-Other | 1.45% | +0.08% | +33.68% | |
| 28 | GIL | Gildan Activewear Inc | Stock-Consumer Disc | 1.39% | +0.57% | +113.76% | |
| 29 | DORM | Dorman Products Inc | Stock-Consumer Disc | 1.31% | -0.16% | +3.51% | |
| 30 | TKR | Timken Co | Stock-Industrials | 1.30% | -0.09% | +20.89% | |
| 31 | WCN | Waste Connections Inc | Stock-Industrials | 1.14% | +0.81% | +289.27% | |
| 32 | CAI | Caris Life Sciences Inc | Stock-Other | 1.14% | +1.14% | NEW | |
| 33 | WSO | Watsco Inc | Stock-Industrials | 1.12% | -1.61% | -41.10% | |
| 34 | PRCH | Porch Group Inc | Stock-Other | 0.95% | +0.15% | +12.15% | |
| 35 | PNTG | Pennant Group Inc/the | Stock-Other | 0.91% | +0.25% | +36.05% | |
| 36 | CRAI | Cra International Inc | Stock-Other | 0.90% | +0.11% | +4.16% | |
| 37 | PMTS | Cpi Card Group Inc | Stock-Other | 0.86% | +0.54% | +136.55% | |
| 38 | RDVT | Red Violet Inc | Stock-Other | 0.85% | -0.24% | -34.68% | |
| 39 | VCTR | Victory Capital Holding - A | Stock-Other | 0.83% | -0.05% | -25.26% | |
| 40 | CLBT | Cellebrite DI Ltd. | Stock-Other | 0.76% | -0.20% | +8.32% | |
| 41 | SHOP | Shopify Inc - Class A | Stock-Tech | 0.76% | +0.60% | +289.41% | |
| 42 | CAE | Cae Inc | Stock-Other | 0.74% | +0.53% | +290.55% | |
| 43 | RY | Royal Bank Of Canada | Stock-Financials | 0.72% | +0.38% | +130.32% | |
| 44 | WPM | Wheaton Precious Metals CORP | Stock-Materials | 0.62% | +0.53% | +485.62% | |
| 45 | IEFA | Ishares Core Msci Eafe ETF | ETF-Other | 0.61% | -0.03% | — | |
| 46 | BROS | Dutch Bros Inc-class A | Stock-Consumer Disc | 0.57% | -0.50% | +3.89% | |
| 47 | ✓ | Versigent LTD | Stock-Other | 0.56% | +0.14% | +28.52% | |
| 48 | ESQ | Esquire Financial Holdings I | Stock-Other | 0.55% | +0.17% | +55.95% | |
| 49 | RBA | Rb Global Inc | Stock-Industrials | 0.55% | +0.34% | +290.11% | |
| 50 | RGEN | Repligen CORP | Stock-Healthcare | 0.52% | +0.24% | +37.26% |
1–50 of 113
Portfolio Performance
Performance for Q4 2026
+0.2%
Performance Last 4 Quarters
-7.3%
- Stdev
- +19.8%
- Beta
- +1.18
- Alpha
- -16.2%
- Max Drawdown
- -17%
- Annualized Perf
- +8.6%
- Batting Avg vs S&P
- +41.7%
- Sortino
- +0.85
- Stutzer
- +0.15
- Treynor
- +0.09
- Sterling
- +0.4
- Calmar
- +0.5
- Information Ratio
- -0.88
- Tracking Error
- +13.8%
- Stdev Down
- +11.9%
- Winning Months %
- +55.6%
- Losing Months %
- +44.4%
- Best 12 Months
- +31%
- Worst 12 Months
- -11.5%
- Efficiency Ratio
- +0.18
- Sharpe
- +0.51
- Stdev Sectors
- +11.3%
- Skewness
- +0.09
- Kurtosis
- -0.22
- Upside Potential
- +2.59
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q3 | 113 | $808.5M | 37 | ||
| 2026 Q2 | 100 | $773.7M | 38 | ||
| 2026 Q1 | 97 | $691.4M | 57 | ||
| 2025 Q4 | 92 | $967.9M | 28 | ||
| 2025 Q3 | 89 | $1.0B | 52 | ||
| 2025 Q2 | 78 | $826.7M | 0 | ||
| 2025 Q1 | 59 | $685.8M | 100 | ||
| 2024 Q4 | 60 | $802.0M | 0 | ||
| 2024 Q3 | 58 | $784.1M | 0 | ||
| 2024 Q2 | 62 | $744.4M | 0 | ||
| 2024 Q1 | 61 | $849.9M | 0 | ||
| 2023 Q4 | 62 | $805.5M | 0 | ||
| 2023 Q3 | 58 | $732.4M | 0 | ||
| 2023 Q2 | 63 | $928.0M | 0 | ||
| 2023 Q1 | 63 | $914.5M | 0 | ||
| 2022 Q4 | 66 | $935.0M | 0 | ||
| 2022 Q3 | 66 | $900.9M | 0 | ||
| 2022 Q2 | 64 | $967.2M | 0 | ||
| 2022 Q1 | 68 | $1.2B | 0 | ||
| 2021 Q4 | 73 | $1.4B | 0 | ||
| 2021 Q3 | 67 | $1.3B | 0 | ||
| 2021 Q2 | 66 | $1.3B | 97 | ||
| 2021 Q1 | 65 | $1.2B | 35 | ||
| 2020 Q4 | 61 | $1.2B | 37 | ||
| 2020 Q3 | 59 | $918.0M | 31 | ||
| 2020 Q2 | 59 | $850.7M | 40 | ||
| 2020 Q1 | 58 | $629.9M | 71 | ||
| 2019 Q4 | 73 | $1.2B | 39 | ||
| 2019 Q3 | 63 | $919.3M | 23 | ||
| 2019 Q2 | 61 | $947.1M | 25 | ||
| 2019 Q1 | 61 | $924.7M | 40 | ||
| 2018 Q4 | 58 | $733.4M | 40 | ||
| 2018 Q3 | 58 | $973.1M | 23 | ||
| 2018 Q2 | 60 | $978.2M | 30 | ||
| 2018 Q1 | 63 | $943.7M | 25 | ||
| 2017 Q4 | 62 | $973.6M | 22 | ||
| 2017 Q3 | 61 | $1.0B | 26 | ||
| 2017 Q2 | 63 | $1.1B | 26 | ||
| 2017 Q1 | 58 | $1.0B | 27 | ||
| 2016 Q4 | 58 | $980.6M | 31 | ||
| 2016 Q3 | 57 | $1.0B | 33 | ||
| 2016 Q2 | 55 | $1.1B | 23 | ||
| 2016 Q1 | 53 | $1.1B | 32 | ||
| 2015 Q4 | 56 | $1.2B | 37 | ||
| 2015 Q3 | 52 | $1.3B | 25 | ||
| 2015 Q2 | 53 | $1.6B | 35 | ||
| 2015 Q1 | 50 | $1.6B | 23 | ||
| 2014 Q4 | 48 | $1.6B | 53 | ||
| 2014 Q3 | 41 | $1.3B | 43 | ||
| 2014 Q2 | 43 | $1.3B | 31 | ||
| 2014 Q1 | 45 | $1.2B | 22 | ||
| 2013 Q4 | 45 | $1.1B | 32 | ||
| 2013 Q3 | 43 | $929.6M | 72 | ||
| 2013 Q2 | 43 | $529.0M | 0 |
Holding changes this quarter
Pembroke Management, LTD's most significant position changes for 2026-09-30: New buy: Silicon Motion Technol-adr (SIMO); New buy: Merit Medical Systems Inc (MMSI); New buy: Caris Life Sciences Inc (CAI); Sold out: Wingstop Inc (WING); Sold out: 10x Genomics Inc-class A (TXG).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | SIMO | Silicon Motion Technol-adr | +2.3% | NEW | New buy |
| 2 | MMSI | Merit Medical Systems Inc | +1.7% | NEW | New buy |
| 3 | CAI | Caris Life Sciences Inc | +1.1% | NEW | New buy |
| 4 | LGND | Ligand Pharmaceuticals | +1% | +72.18% | Add |
| 5 | WCN | Waste Connections Inc | +0.8% | +289.27% | Add |
| 6 | DSGX | Descartes Systems Grp/the | +0.8% | +63.19% | Add |
| 7 | MDA | Mda Space LTD | +0.7% | +83.99% | Add |
| 8 | OLLI | Ollie's Bargain Outlet Holdi | +0.7% | +20.28% | Add |
| 9 | SHOP | Shopify Inc - Class A | +0.6% | +289.41% | Add |
| 10 | GIL | Gildan Activewear Inc | +0.6% | +113.76% | Add |
| 11 | PMTS | Cpi Card Group Inc | +0.5% | +136.55% | Add |
| 12 | CAE | Cae Inc | +0.5% | +290.55% | Add |
| 13 | WPM | Wheaton Precious Metals CORP | +0.5% | +485.62% | Add |
| 14 | OBE | Obsidian Energy LTD | +0.4% | +17.34% | Add |
| 15 | RY | Royal Bank Of Canada | +0.4% | +130.32% | Add |
| 16 | ELVA | Electrovaya Inc | +0.4% | NEW | New buy |
| 17 | AGI | Alamos Gold Inc-class A | +0.4% | +412.32% | Add |
| 18 | EFXT | Enerflex LTD | +0.4% | NEW | New buy |
| 19 | RBA | Rb Global Inc | +0.3% | +290.11% | Add |
| 20 | TYL | Tyler Technologies Inc | +0.3% | NEW | New buy |
| 21 | EXLS | Exlservice Holdings Inc | +0.3% | NEW | New buy |
| 22 | HBM | Hudbay Minerals Inc | +0.3% | +289.51% | Add |
| 23 | AEM | Agnico Eagle Mines LTD | +0.3% | +289.30% | Add |
| 24 | HGTY | Hagerty Inc-a | +0.3% | +3.11% | Add |
| 25 | BN | Brookfield CORP | +0.3% | +343.88% | Add |
| 26 | AXGN | Axogen Inc | +0.3% | NEW | New buy |
| 27 | FSV | Firstservice CORP | +0.3% | +288.34% | Add |
| 28 | PNTG | Pennant Group Inc/the | +0.3% | +36.05% | Add |
| 29 | RGEN | Repligen CORP | +0.2% | +37.26% | Add |
| 30 | ✓ | +0.2% | NEW | New buy | |
| 31 | ESQ | Esquire Financial Holdings I | +0.2% | +55.95% | Add |
| 32 | MPWR | Monolithic Power Systems Inc | +0.2% | +10.84% | Add |
| 33 | PRCH | Porch Group Inc | +0.2% | +12.15% | Add |
| 34 | ✓ | Versigent LTD | +0.1% | +28.52% | Add |
| 35 | CRAI | Cra International Inc | +0.1% | +4.16% | Add |
| 36 | P | Everpure Inc-a | +0.1% | -35.71% | Trim |
| 37 | BGSI | THE Boyd Group Inc | +0.1% | +33.68% | Add |
| 38 | ASML | ASML Holding N.V. | +0.1% | +75.74% | Add |
| 39 | MSFT | Microsoft CORP | +0.1% | +15.84% | Add |
| 40 | ING | Ing Groep N.v.-sponsored Adr | +0.1% | NEW | New buy |
| 41 | IGRO | Ishares Intl Div Growth ETF | +0.1% | NEW | New buy |
| 42 | APG | Api Group CORP | 0% | NEW | New buy |
| 43 | CB | Chubb Limited | 0% | NEW | New buy |
| 44 | TSM | Taiwan Semiconductor-sp Adr | 0% | NEW | New buy |
| 45 | CXDO | Crexendo Inc | 0% | +60.88% | Add |
| 46 | MAIN | Main Street Capital CORP | 0% | +3.84% | Add |
| 47 | SAP | Sap Se-sponsored Adr | 0% | NEW | New buy |
| 48 | NVDA | Nvidia CORP | 0% | +4.40% | Add |
| 49 | SPOT | Spotify Technology S.A. | 0% | +60.82% | Add |
| 50 | AAPL | Apple Inc | 0% | +4.39% | Add |
1–50 of 116
Filing History
FAQ
What is Pembroke Management, LTD and what type of investor is it?
Pembroke Management, LTD is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-09-30), the firm manages a tracked equity portfolio valued at approximately $808.5M, spread across 113 disclosed positions.
What are Pembroke Management, LTD's largest equity positions?
Based on the latest 13F filing, Pembroke Management, LTD's top holdings by market value are:
1. Everpure Inc-a (P) — $41.8M (5.2%)
2. Monolithic Power Systems Inc (MPWR) — $39.7M (4.9%)
3. Federal Signal CORP (FSS) — $33.0M (4.1%)
4. Globus Medical Inc - A (GMED) — $31.4M (3.9%)
5. Mda Space LTD (MDA) — $27.7M (3.4%)
What changes did Pembroke Management, LTD make in its most recent portfolio filing?
In the latest reported quarter, Pembroke Management, LTD made 115 notable position adjustments: 16 new positions were initiated, 85 existing holdings were added to, 11 positions were partially reduced, and 3 were completely exited. The largest of these moves: New buy: Silicon Motion Technol-adr (SIMO); New buy: Merit Medical Systems Inc (MMSI); New buy: Caris Life Sciences Inc (CAI); Sold out: Wingstop Inc (WING); Sold out: 10x Genomics Inc-class A (TXG)
What sectors does Pembroke Management, LTD focus on?
Pembroke Management, LTD is concentrated in the following sectors based on its current disclosed equity portfolio:
• Industrials: 35.4%
• Information Technology: 23.9%
• Consumer Discretionary: 13.8%
• Health Care: 13.7%
• Financials: 5.2%
• Consumer Staples: 5.0%
Investment Profile
Pembroke Management, LTD returned an annualized 8.6% over the trailing 36 months — underperforming the S&P 500 by 16.2 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 1.18 (more volatile than the market) and a 42% quarterly batting average against the index.
Its portfolio is broadly diversified and moderately active, with 35.4% of the portfolio concentrated in Industrials.
Its turnover score has fallen from 52 to 37 over the past 4 quarters — a shift toward longer holding periods.
It has added to its OLLI position over the past two quarters (+$20.0M, now $26.0M), while trimming REZI over the same stretch (-$34.9M, still holding $2.7M).
Peer Institutions
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Concentration11.4
Portfolio Stability66.4
Sector conviction73.1
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PL
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AP
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Developer Access
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