Pembroke Management, LTD
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed January 31, 2025), Pembroke Management, LTD reported 60 stock positions worth $802.0 million. Its top holding was Globus Medical Class A (GMED) at 5.8% of the portfolio, followed by Cellebrite Di (CLBT, 5.5%) and Vertex Class A (VERX, 4.9%). Compared with Q3 2024, it opened 4 new positions, sold out of 2, added to 24 and reduced 27. The biggest buy was a new position in Chewy Class A (CHWY) and the biggest sale Albany Intl Class A (AIN, shares −75%).
- Most Recent 13F
- Q2 2026
- Location
- Montreal, A8
- CIK
- 0001063497
- Portfolio Value
- $802.0M (Q4 2024)
- SEC Filing
- 0001172661-25-000448 ↗ filed Jan 31, 2025
Holdings Value
Holdings 60 stocks · $802.0M
| GMED Globus Medical Inc. Class A | 5.77% | 559,909 | $46.3M | Reduce -1.6% |
| CLBT Cellebrite Di Ltd. | 5.47% | 1,992,432 | $43.9M | Add +4.4% |
| VERX Vertex Inc. Class A | 4.85% | 729,361 | $38.9M | Reduce -11.3% |
| CNM Core & Main Inc. Class A | 3.87% | 609,631 | $31.0M | Add +6.2% |
| P Everpure Inc. Class A filed as PURE STORAGE INC | 3.71% | 483,933 | $29.7M | Add +15.6% |
| WSO Watsco Inc. | 3.50% | 59,241 | $28.1M | Reduce -1.1% |
| SITE Siteone Landscape Supply Inc. | 3.45% | 210,008 | $27.7M | Reduce -0.7% |
| IBP Installed Building Products | 3.37% | 154,335 | $27.0M | Reduce -9.9% |
| AAON Aaon Inc. | 3.35% | 228,398 | $26.9M | Add +37.3% |
| FSS Federal Signal Corp. | 3.23% | 280,016 | $25.9M | Add +26.6% |
| TREX Trex Company Inc. | 3.17% | 368,520 | $25.4M | Reduce -0.9% |
| MPWR Monolithic Power Systems Inc. | 2.80% | 37,969 | $22.5M | Add +6.9% |
| DORM Dorman Products Inc. | 2.79% | 172,806 | $22.4M | Reduce -33.6% |
| DSGX The Descartes Systems Grp | 2.51% | 123,004 | $20.1M | Reduce -2.4% |
| QTWO Q2 Holdings Inc. filed as Q2 HLDGS INC | 2.51% | 199,663 | $20.1M | Reduce -7.0% |
| STVN Stevanato Group SPA | 2.50% | 921,919 | $20.1M | Reduce -12.3% |
| RYAN Ryan Specialty Holdings Inc. | 2.44% | 305,219 | $19.6M | Reduce -1.4% |
| NCNO Ncino Inc. | 2.40% | 574,092 | $19.3M | Add +32.8% |
| TECH Bio-Techne Corp. | 2.34% | 260,042 | $18.7M | Reduce -17.4% |
| AX Axos Financial Inc. | 2.25% | 258,290 | $18.0M | Add +7.7% |
| CRAI Cra International Inc. | 1.93% | 82,565 | $15.5M | Reduce -2.0% |
| REZI Resideo Technologies Inc. | 1.92% | 667,421 | $15.4M | Add +126.8% |
| MANH Manhattan Associates Inc. | 1.81% | 53,633 | $14.5M | Add +11.8% |
| IVV iShares Core S&P 500 ETF | 1.79% | 24,334 | $14.3M | Reduce -0.5% |
| BASE Couchbase Inc. | 1.75% | 898,842 | $14.0M | Add +12.3% |
| CIGI Colliers Intl GR-Subord Vot | 1.69% | 69,506 | $13.6M | Reduce -23.2% |
| OLLI Ollie's Bargain Outlet Holdi | 1.63% | 119,078 | $13.1M | Add +33.5% |
| KBR KBR Inc. | 1.63% | 225,066 | $13.0M | Add +1.4% |
| CCC CCC Intelligent Solutions Ho | 1.62% | 1,104,636 | $13.0M | Reduce -1.1% |
| UTI Universal Technical Institut | 1.61% | 503,007 | $12.9M | Add +22.6% |
| IMAX Imax Corp. | 1.48% | 463,139 | $11.9M | Reduce -2.5% |
| CHWY Chewy Inc. Class A | 1.48% | 353,741 | $11.8M | New |
| BWMN Bowman Consulting Group Ltd. | 1.44% | 461,322 | $11.5M | Reduce -35.2% |
| VCTR Victory Capital Holding - A | 1.30% | 159,827 | $10.5M | Add +42.9% |
| AOS Smith (a.o.) Corp. | 1.23% | 144,761 | $9.9M | Reduce -44.5% |
| SPSC SPS Commerce Inc. | 1.18% | 51,360 | $9.4M | Reduce -32.0% |
| HGTY Hagerty Inc. Class A | 1.15% | 953,427 | $9.2M | New |
| VBNK Versabank | 0.82% | 332,764 | $6.6M | Add +554.2% |
| FC Franklin Covey Co. | 0.69% | 147,821 | $5.6M | Reduce -3.1% |
| AIN Albany Intl Corp. Class A | 0.69% | 68,881 | $5.5M | Reduce -75.0% |
| LCII Lci Industries | 0.62% | 48,432 | $5.0M | Reduce -1.1% |
| GIL Gildan Activewear Inc. | 0.62% | 73,560 | $5.0M | No change |
| MAIN Main Street Capital Corp. | 0.57% | 78,121 | $4.6M | Add +1.6% |
| IEFA iShares Core MSCI Eafe ETF | 0.48% | 54,949 | $3.9M | Add +12.8% |
| IEMG iShares Core MSCI Emerging | 0.36% | 55,822 | $2.9M | Add +8.3% |
| OS Onestream Inc. | 0.35% | 97,637 | $2.8M | New |
| RY Royal Bank of Canada | 0.23% | 10,492 | $1.8M | No change |
| CAE Cae Inc. | 0.22% | 47,573 | $1.7M | Add +102.8% |
| AEM Agnico Eagle Mines Ltd. | 0.20% | 14,297 | $1.6M | Reduce -11.3% |
| FSV Firstservice Corp. | 0.19% | 5,819 | $1.5M | No change |
| GIB Cgi Inc. | 0.15% | 7,709 | $1.2M | Add +21.4% |
| PMTS Cpi Card Group Inc. | 0.14% | 38,481 | $1.2M | Add +44.5% |
| RDVT Red Violet Inc. | 0.14% | 30,052 | $1.1M | Add +125.1% |
| AGI Alamos Gold Inc. Class A | 0.13% | 38,452 | $1.0M | Reduce -9.5% |
| CNI Canadian Natl Railway Co. | 0.13% | 6,913 | $1.0M | Add +25.9% |
| WPM Wheaton Precious Metals Corp. | 0.11% | 10,601 | $858K | Reduce -24.4% |
| STN Stantec Inc. | 0.09% | 6,702 | $756K | No change |
| BN Brookfield Corp. | 0.08% | 7,339 | $606K | No change |
| SHOP Shopify Inc. Class A | 0.07% | 3,589 | $549K | Reduce -26.9% |
| AMZN Amazon.com Inc. | 0.03% | 1,002 | $220K | New |
Portfolio Sells Q3 2024 → Q4 2024
| AIN Albany Intl Corp. Class A | Reduce -75.0% | 0.69% | −2.44 |
| IBP Installed Building Products | Reduce -9.9% | 3.37% | −2.01 |
| THRM Gentherm Inc. | Sold out | 0.00% | −1.88 |
| AOS Smith (a.o.) Corp. | Reduce -44.5% | 1.23% | −1.76 |
| DORM Dorman Products Inc. | Reduce -33.6% | 2.79% | −0.97 |
| TECH Bio-Techne Corp. | Reduce -17.4% | 2.34% | −0.87 |
| BWMN Bowman Consulting Group Ltd. | Reduce -35.2% | 1.44% | −0.75 |
| SPSC SPS Commerce Inc. | Reduce -32.0% | 1.18% | −0.69 |
| CIGI Colliers Intl GR-Subord Vot | Reduce -23.2% | 1.69% | −0.67 |
| SITE Siteone Landscape Supply Inc. | Reduce -0.7% | 3.45% | −0.62 |
| WSO Watsco Inc. | Reduce -1.1% | 3.50% | −0.26 |
| RYAN Ryan Specialty Holdings Inc. | Reduce -1.4% | 2.44% | −0.18 |
| STVN Stevanato Group SPA | Reduce -12.3% | 2.50% | −0.18 |
| LCII Lci Industries | Reduce -1.1% | 0.62% | −0.13 |
| FC Franklin Covey Co. | Reduce -3.1% | 0.69% | −0.11 |
| DOO BRP Inc./Ca- Sub Voting | Sold out | 0.00% | −0.05 |
| WPM Wheaton Precious Metals Corp. | Reduce -24.4% | 0.11% | −0.04 |
| AEM Agnico Eagle Mines Ltd. | Reduce -11.3% | 0.20% | −0.02 |
| AGI Alamos Gold Inc. Class A | Reduce -9.5% | 0.13% | −0.02 |
| IVV iShares Core S&P 500 ETF | Reduce -0.5% | 1.79% | −0.01 |
| SHOP Shopify Inc. Class A | Reduce -26.9% | 0.07% | +0.00 |
| TREX Trex Company Inc. | Reduce -0.9% | 3.17% | +0.01 |
| CCC CCC Intelligent Solutions Ho | Reduce -1.1% | 1.62% | +0.04 |
| CRAI Cra International Inc. | Reduce -2.0% | 1.93% | +0.04 |
| IMAX Imax Corp. | Reduce -2.5% | 1.48% | +0.24 |
| DSGX The Descartes Systems Grp | Reduce -2.4% | 2.51% | +0.27 |
| QTWO Q2 Holdings Inc. | Reduce -7.0% | 2.51% | +0.32 |
| GMED Globus Medical Inc. Class A | Reduce -1.6% | 5.77% | +0.59 |
| VERX Vertex Inc. Class A | Reduce -11.3% | 4.85% | +0.81 |
Portfolio Buys Q3 2024 → Q4 2024
| CHWY Chewy Inc. Class A | New | 1.48% | +1.48 |
| CLBT Cellebrite Di Ltd. | Add +4.4% | 5.47% | +1.37 |
| REZI Resideo Technologies Inc. | Add +126.8% | 1.92% | +1.16 |
| HGTY Hagerty Inc. Class A | New | 1.15% | +1.15 |
| AAON Aaon Inc. | Add +37.3% | 3.35% | +1.06 |
| P Everpure Inc. Class A | Add +15.6% | 3.71% | +1.03 |
| UTI Universal Technical Institut | Add +22.6% | 1.61% | +0.76 |
| VBNK Versabank | Add +554.2% | 0.82% | +0.70 |
| NCNO Ncino Inc. | Add +32.8% | 2.40% | +0.66 |
| CNM Core & Main Inc. Class A | Add +6.2% | 3.87% | +0.62 |
| FSS Federal Signal Corp. | Add +26.6% | 3.23% | +0.59 |
| OLLI Ollie's Bargain Outlet Holdi | Add +33.5% | 1.63% | +0.52 |
| VCTR Victory Capital Holding - A | Add +42.9% | 1.30% | +0.51 |
| OS Onestream Inc. | New | 0.35% | +0.35 |
| AX Axos Financial Inc. | Add +7.7% | 2.25% | +0.33 |
| CAE Cae Inc. | Add +102.8% | 0.22% | +0.14 |
| BASE Couchbase Inc. | Add +12.3% | 1.75% | +0.10 |
| RDVT Red Violet Inc. | Add +125.1% | 0.14% | +0.09 |
| MANH Manhattan Associates Inc. | Add +11.8% | 1.81% | +0.09 |
| MAIN Main Street Capital Corp. | Add +1.6% | 0.57% | +0.08 |
| PMTS Cpi Card Group Inc. | Add +44.5% | 0.14% | +0.05 |
| AMZN Amazon.com Inc. | New | 0.03% | +0.03 |
| GIB Cgi Inc. | Add +21.4% | 0.15% | +0.03 |
| CNI Canadian Natl Railway Co. | Add +25.9% | 0.13% | +0.01 |
| IEFA iShares Core MSCI Eafe ETF | Add +12.8% | 0.48% | −0.00 |
| IEMG iShares Core MSCI Emerging | Add +8.3% | 0.36% | −0.01 |
| KBR KBR Inc. | Add +1.4% | 1.63% | −0.22 |
| MPWR Monolithic Power Systems Inc. | Add +6.9% | 2.80% | −1.39 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026Amended | 100 | $773.7M | P, MOD, AAON, MPWR, FSS |
| Q1 2026 | 97 | $691.4M | MPWR, REZI, MOD, AAON, GMED |
| Q4 2025 | 92 | $967.9M | REZI, GMED, MPWR, CNM, AAON |
| Q3 2025 | 89 | $1.0B | REZI, P, AAON, MPWR, CNM |
| Q2 2025 | 78 | $826.7M | CNM, P, MPWR, IBP, FSS |
| Q1 2025 | 59 | $685.8M | GMED, CLBT, IBP, CNM, SITE |
| Q4 2024 | 60 | $802.0M | GMED, CLBT, VERX, CNM, P |
| Q3 2024 | 58 | $784.1M | IBP, GMED, MPWR, CLBT, SITE |
| Q2 2024 | 62 | $744.4M | GMED, IBP, MPWR, VERX, P |
| Q1 2024 | 61 | $849.9M | IBP, CNM, MPWR, P, GMED |