Pembroke Management, LTD

In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 13, 2026), Pembroke Management, LTD reported 100 stock positions worth $773.7 million. Its top holding was Everpure Class A (P) at 5.1% of the portfolio, followed by Modine Manufacturing (MOD, 5.0%) and Aaon (AAON, 4.9%). Compared with Q1 2026, it opened 15 new positions, sold out of 12, added to 22 and reduced 59. The biggest buy was Vse (VSEC, shares +205%) and the biggest sale an exit from Bio-Techne (TECH).

Most Recent 13F
Q2 2026
Location
Montreal, A8
CIK
0001063497
Portfolio Value
$773.7M (Q2 2026)
SEC Filing
0001172661-26-003390 ↗ filed Aug 13, 2026

Holdings Value

0$500.0M$1.0B$1.5B Q1 2024: $849.9M Q1 2024 Q2 2024: $744.4M Q2 2024 Q3 2024: $784.1M Q3 2024 Q4 2024: $802.0M Q4 2024 Q1 2025: $685.8M Q1 2025 Q2 2025: $826.7M Q2 2025 Q3 2025: $1.0B Q3 2025 Q4 2025: $967.9M Q4 2025 Q1 2026: $691.4M Q1 2026 Q2 2026: $773.7M $773.7M Q2 2026

Holdings 100 stocks · $773.7M
P Everpure Inc. Class A 5.07% 497,523 $39.2M Add +9.0%
MOD Modine Manufacturing Co. 4.97% 143,899 $38.4M Reduce -13.3%
AAON Aaon Inc. 4.87% 296,806 $37.7M Reduce -31.0%
MPWR Monolithic Power Systems Inc. 4.75% 26,571 $36.7M Reduce -22.8%
FSS Federal Signal Corp. 4.71% 283,387 $36.4M Reduce -1.6%
REZI Resideo Technologies Inc. 4.52% 1,125,097 $35.0M Add +0.9%
VSEC Vse Corp. 4.40% 149,114 $34.1M Add +204.6%
GMED Globus Medical Inc. Class A 4.07% 398,860 $31.5M Reduce -2.4%
IMAX Imax Corp. 2.74% 531,783 $21.2M Add +9.0%
WSO Watsco Inc. 2.73% 50,664 $21.1M Reduce -2.3%
CNM Core & Main Inc. Class A 2.73% 437,414 $21.1M Reduce -38.1%
MDA Mda Space Ltd. 2.71% 508,494 $21.0M Reduce -47.8%
HGTY Hagerty Inc. Class A 2.62% 1,702,926 $20.3M Reduce -2.0%
OLLI Ollie's Bargain Outlet Holdi 2.51% 252,337 $19.4M Add +285.0%
IBP Installed Building Products 2.40% 80,863 $18.6M Add +7.8%
VBNK Versabank 2.28% 759,870 $17.6M Add +7.8%
LPX Louisiana-Pacific Corp. 2.21% 217,257 $17.1M Reduce -2.4%
ENPH Enphase Energy Inc. 2.20% 345,870 $17.0M Add +14.3%
SAIA Saia Inc. 2.16% 39,599 $16.7M Add +52.3%
SITE Siteone Landscape Supply Inc. 2.01% 135,965 $15.6M Reduce -31.1%
IVV iShares Core S&P 500 ETF 1.99% 20,566 $15.4M Reduce -6.9%
AX Axos Financial Inc. 1.80% 143,152 $13.9M Reduce -3.7%
HCSG Healthcare Services Group 1.66% 523,225 $12.9M Add +74.9%
LGND Ligand Pharmaceuticals 1.65% 40,277 $12.7M New
DORM Dorman Products Inc. 1.47% 83,539 $11.4M Reduce -4.1%
TKR Timken Co. 1.39% 74,257 $10.8M New
BGSI Boyd Group Services Inc. 1.37% 111,721 $10.6M Reduce -2.1%
RDVT Red Violet Inc. 1.09% 132,781 $8.5M Reduce -0.5%
BROS Dutch Bros Inc. Class A 1.07% 114,750 $8.2M Add +112.6%
OBE Obsidian Energy Ltd. 1.04% 990,264 $8.1M Add +54.9%
CLBT Cellebrite Di Ltd. 0.96% 506,737 $7.4M Reduce -20.6%
DSGX The Descartes Systems Grp 0.93% 103,981 $7.2M Add +0.6%
VCTR Victory Capital Holding - A 0.88% 80,712 $6.8M Reduce -2.4%
GIL Gildan Activewear Inc. 0.82% 123,397 $6.4M Reduce -0.6%
PRCH Porch Group Inc. 0.80% 411,859 $6.2M Add +51.9%
CRAI Cra International Inc. 0.79% 42,787 $6.1M Add +1.6%
UTI Universal Technical Institut 0.76% 137,993 $5.9M Reduce -15.3%
PNTG The Pennant Group Inc. 0.67% 139,423 $5.2M Reduce -3.2%
IEFA iShares Core MSCI Eafe ETF 0.64% 51,225 $4.9M Reduce -4.2%
OUST Ouster Inc. 0.64% 78,740 $4.9M New
AIR Aar Corp. 0.61% 32,984 $4.7M Reduce -2.1%
TSAT Telesat Corp. 0.60% 91,739 $4.6M Reduce -1.2%
WING Wingstop Inc. 0.59% 26,229 $4.5M New
IEMG iShares Core MSCI Emerging 0.52% 48,213 $4.0M Reduce -13.1%
BOBS Bob's Discount Furniture 0.51% 248,792 $3.9M Add +42.0%
MAIN Main Street Capital Corp. 0.44% 66,279 $3.4M Add +2.1%
LTH Life Time Group Holdings Inc. 0.44% 82,959 $3.4M New
FIVE Five Below 0.42% 18,194 $3.3M Reduce -2.9%
VGNT Versigent PLC 0.42% 77,842 $3.3M New
TXG 10X Genomics Inc. Class A 0.41% 82,793 $3.2M New
ESQ Esquire Financial Holdings I 0.38% 24,370 $2.9M New
EUSA iShares MSCI USA Equal Weigh 0.35% 23,623 $2.7M No change
RY Royal Bank of Canada 0.34% 12,838 $2.7M Reduce -3.2%
WCN Waste Connections Inc. 0.33% 15,333 $2.6M Add +44.4%
PMTS Cpi Card Group Inc. 0.32% 119,950 $2.5M Add +20.5%
RGEN Repligen Corp. 0.28% 15,943 $2.2M New
RBA RB Global Inc. 0.21% 13,908 $1.6M New
BKTI BK Technologies Corp. 0.21% 18,684 $1.6M Add +32.5%
CAE Cae Inc. 0.21% 63,645 $1.6M Reduce -3.2%
BWMN Bowman Consulting Group Ltd. 0.19% 51,411 $1.5M No change
NVDA Nvidia Corp. 0.18% 7,016 $1.4M Reduce -0.4%
CXDO Crexendo Inc. 0.18% 183,171 $1.4M Reduce -6.2%
SHOP Shopify Inc. Class A 0.16% 10,584 $1.2M Reduce -3.2%
AAPL Apple Inc. 0.15% 4,143 $1.2M Reduce -0.4%
AMZN Amazon.com Inc. 0.15% 4,815 $1.1M Reduce -0.3%
GOOGL Alphabet Inc. Class A 0.15% 3,161 $1.1M Reduce -0.3%
FSV Firstservice Corp. 0.12% 6,330 $900K Reduce -3.2%
BN Brookfield Corp. 0.11% 20,648 $879K Reduce -3.2%
ASML ASML Holding NV-NY Reg SHS filed as ASML HLDG NV 0.11% 441 $877K Reduce -0.2%
FERG Ferguson Enterprises Inc. 0.11% 3,446 $818K Reduce -0.4%
HBM Hudbay Minerals Inc. 0.10% 32,501 $767K New
MSFT Microsoft Corp. 0.09% 1,945 $726K Reduce -0.4%
WPM Wheaton Precious Metals Corp. 0.09% 6,384 $717K Reduce -3.2%
AEM Agnico Eagle Mines Ltd. 0.09% 4,478 $695K Reduce -3.2%
TDG Transdigm Group Inc. 0.09% 499 $665K Reduce -0.2%
LIN Linde PLC 0.09% 1,277 $663K Reduce -0.3%
AGI Alamos Gold Inc. Class A 0.08% 21,627 $656K Add +16.6%
ARM Arm Holdings PLC-ADR 0.08% 1,696 $601K New
LLY Eli Lilly & Co. 0.08% 487 $584K Reduce -0.2%
MDB Mongodb Inc. 0.06% 1,478 $496K Reduce -0.3%
MA Mastercard Inc. Class A 0.06% 908 $466K Reduce -0.3%
META Meta Platforms Inc. Class A 0.06% 798 $450K Reduce -0.3%
ORLY O'reilly Automotive Inc. 0.06% 4,806 $443K Reduce -0.4%
WMT Walmart Inc. 0.06% 3,837 $435K Reduce -0.4%
GE General Electric filed as GE AEROSPACE 0.06% 1,142 $427K Reduce -0.3%
CDNS Cadence Design SYS Inc. 0.05% 1,064 $399K Reduce -0.3%
ONON On Holding AG Class A filed as ON HLDG AG 0.05% 11,064 $392K Reduce -0.4%
IDXX Idexx Laboratories Inc. 0.05% 722 $380K Reduce -0.3%
TT Trane Technologies PLC 0.05% 739 $363K Reduce -0.4%
SPOT Spotify Technology SA 0.04% 758 $348K Add +42.2%
PSA Public Storage 0.04% 1,093 $348K Reduce -0.4%
ODFL Old Dominion Freight Line 0.04% 1,518 $329K New
RTX RTX Corp. 0.04% 1,704 $323K Reduce -0.3%
FCX Freeport-McMoran Inc. 0.04% 4,983 $313K Reduce -0.4%
HD Home Depot Inc. 0.04% 885 $312K Reduce -0.3%
UNH Unitedhealth Group Inc. 0.04% 736 $306K New
CPRT Copart Inc. 0.03% 8,569 $242K Reduce -0.4%
PGR Progressive Corp. 0.03% 1,079 $236K No change
SHW The Sherwin-Williams Co. 0.03% 621 $214K New
COST Costco Wholesale Corp. 0.03% 227 $212K No change

Portfolio Sells Q1 2026 → Q2 2026
TECH Bio-Techne Corp. Sold out 0.00% −2.81
CNM Core & Main Inc. Class A Reduce -38.1% 2.73% −2.32
WK Workiva Inc. Sold out 0.00% −1.94
SITE Siteone Landscape Supply Inc. Reduce -31.1% 2.01% −1.79
GMED Globus Medical Inc. Class A Reduce -2.4% 4.07% −1.02
MDA Mda Space Ltd. Reduce -47.8% 2.71% −0.85
LCII Lci Industries Sold out 0.00% −0.75
BGSI Boyd Group Services Inc. Reduce -2.1% 1.37% −0.74
MPWR Monolithic Power Systems Inc. Reduce -22.8% 4.75% −0.69
QTWO Q2 Holdings Inc. Sold out 0.00% −0.63
CHWY Chewy Inc. Class A Sold out 0.00% −0.63
CLBT Cellebrite Di Ltd. Reduce -20.6% 0.96% −0.32
STVN Stevanato Group SPA Sold out 0.00% −0.30
AAON Aaon Inc. Reduce -31.0% 4.87% −0.28
MOD Modine Manufacturing Co. Reduce -13.3% 4.97% −0.23
FIVE Five Below Reduce -2.9% 0.42% −0.20
CWST Casella Waste Systems Inc. Class A Sold out 0.00% −0.20
GIL Gildan Activewear Inc. Reduce -0.6% 0.82% −0.18
GIB Cgi Inc. Sold out 0.00% −0.15
LPX Louisiana-Pacific Corp. Reduce -2.4% 2.21% −0.13
IVV iShares Core S&P 500 ETF Reduce -6.9% 1.99% −0.10
UTI Universal Technical Institut Reduce -15.3% 0.76% −0.09
STN Stantec Inc. Sold out 0.00% −0.09
IEFA iShares Core MSCI Eafe ETF Reduce -4.2% 0.64% −0.06
AEM Agnico Eagle Mines Ltd. Reduce -3.2% 0.09% −0.05
IEMG iShares Core MSCI Emerging Reduce -13.1% 0.52% −0.04
CAE Cae Inc. Reduce -3.2% 0.21% −0.04
BSX Boston Scientific Corp. Sold out 0.00% −0.03
WPM Wheaton Precious Metals Corp. Reduce -3.2% 0.09% −0.03
SHOP Shopify Inc. Class A Reduce -3.2% 0.16% −0.03
VEEV Veeva Systems Inc. Class A Sold out 0.00% −0.03
CSGP Costar Group Inc. Sold out 0.00% −0.03
AX Axos Financial Inc. Reduce -3.7% 1.80% −0.03
HGTY Hagerty Inc. Class A Reduce -2.0% 2.62% −0.02
FSV Firstservice Corp. Reduce -3.2% 0.12% −0.02
WMT Walmart Inc. Reduce -0.4% 0.06% −0.01
BN Brookfield Corp. Reduce -3.2% 0.11% −0.01
FERG Ferguson Enterprises Inc. Reduce -0.4% 0.11% −0.01
MSFT Microsoft Corp. Reduce -0.4% 0.09% −0.01
CPRT Copart Inc. Reduce -0.4% 0.03% −0.01
IDXX Idexx Laboratories Inc. Reduce -0.3% 0.05% −0.01
META Meta Platforms Inc. Class A Reduce -0.3% 0.06% −0.01
ORLY O'reilly Automotive Inc. Reduce -0.4% 0.06% −0.01
LIN Linde PLC Reduce -0.3% 0.09% −0.01
RTX RTX Corp. Reduce -0.3% 0.04% −0.01
MA Mastercard Inc. Class A Reduce -0.3% 0.06% −0.01
ONON On Holding AG Class A Reduce -0.4% 0.05% −0.00
FCX Freeport-McMoran Inc. Reduce -0.4% 0.04% −0.00
HD Home Depot Inc. Reduce -0.3% 0.04% −0.00
WSO Watsco Inc. Reduce -2.3% 2.73% −0.00

Portfolio Buys Q1 2026 → Q2 2026
VSEC Vse Corp. Add +204.6% 4.40% +3.10
LGND Ligand Pharmaceuticals New 1.65% +1.65
OLLI Ollie's Bargain Outlet Holdi Add +285.0% 2.51% +1.64
TKR Timken Co. New 1.39% +1.39
P Everpure Inc. Class A Add +9.0% 5.07% +1.17
HCSG Healthcare Services Group Add +74.9% 1.66% +0.86
VBNK Versabank Add +7.8% 2.28% +0.84
SAIA Saia Inc. Add +52.3% 2.16% +0.83
BROS Dutch Bros Inc. Class A Add +112.6% 1.07% +0.67
OUST Ouster Inc. New 0.64% +0.64
WING Wingstop Inc. New 0.59% +0.59
ENPH Enphase Energy Inc. Add +14.3% 2.20% +0.55
PRCH Porch Group Inc. Add +51.9% 0.80% +0.52
LTH Life Time Group Holdings Inc. New 0.44% +0.44
VGNT Versigent PLC New 0.42% +0.42
TXG 10X Genomics Inc. Class A New 0.41% +0.41
ESQ Esquire Financial Holdings I New 0.38% +0.38
RGEN Repligen Corp. New 0.28% +0.28
BOBS Bob's Discount Furniture Add +42.0% 0.51% +0.21
RBA RB Global Inc. New 0.21% +0.21
OBE Obsidian Energy Ltd. Add +54.9% 1.04% +0.16
PMTS Cpi Card Group Inc. Add +20.5% 0.32% +0.11
HBM Hudbay Minerals Inc. New 0.10% +0.10
WCN Waste Connections Inc. Add +44.4% 0.33% +0.08
ARM Arm Holdings PLC-ADR New 0.08% +0.08
IMAX Imax Corp. Add +9.0% 2.74% +0.06
BKTI BK Technologies Corp. Add +32.5% 0.21% +0.06
ODFL Old Dominion Freight Line New 0.04% +0.04
UNH Unitedhealth Group Inc. New 0.04% +0.04
SHW The Sherwin-Williams Co. New 0.03% +0.03
SPOT Spotify Technology SA Add +42.2% 0.04% +0.01
AGI Alamos Gold Inc. Class A Add +16.6% 0.08% −0.03
MAIN Main Street Capital Corp. Add +2.1% 0.44% −0.05
DSGX The Descartes Systems Grp Add +0.6% 0.93% −0.14
CRAI Cra International Inc. Add +1.6% 0.79% −0.20
IBP Installed Building Products Add +7.8% 2.40% −0.47
REZI Resideo Technologies Inc. Add +0.9% 4.52% −0.91

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026Amended 100$773.7MP, MOD, AAON, MPWR, FSS
Q1 2026 97$691.4MMPWR, REZI, MOD, AAON, GMED
Q4 2025 92$967.9MREZI, GMED, MPWR, CNM, AAON
Q3 2025 89$1.0BREZI, P, AAON, MPWR, CNM
Q2 2025 78$826.7MCNM, P, MPWR, IBP, FSS
Q1 2025 59$685.8MGMED, CLBT, IBP, CNM, SITE
Q4 2024 60$802.0MGMED, CLBT, VERX, CNM, P
Q3 2024 58$784.1MIBP, GMED, MPWR, CLBT, SITE
Q2 2024 62$744.4MGMED, IBP, MPWR, VERX, P
Q1 2024 61$849.9MIBP, CNM, MPWR, P, GMED