Pembroke Management, LTD
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 12, 2026), Pembroke Management, LTD reported 92 stock positions worth $967.9 million. Its top holding was Resideo Technologies (REZI) at 5.2% of the portfolio, followed by Globus Medical Class A (GMED, 5.1%) and Monolithic Power Systems (MPWR, 5.0%). Compared with Q3 2025, it opened 8 new positions, sold out of 5, added to 43 and reduced 30. The biggest buy was a new position in Boyd Group Services (BGSI) and the biggest sale an exit from Trex (TREX).
- Most Recent 13F
- Q2 2026
- Location
- Montreal, A8
- CIK
- 0001063497
- Portfolio Value
- $967.9M (Q4 2025)
- SEC Filing
- 0001172661-26-000669 ↗ filed Feb 12, 2026
Holdings Value
Holdings 92 stocks · $967.9M
| REZI Resideo Technologies Inc. | 5.24% | 1,444,832 | $50.7M | Reduce -1.7% |
| GMED Globus Medical Inc. Class A | 5.14% | 569,735 | $49.7M | Add +1.3% |
| MPWR Monolithic Power Systems Inc. | 4.98% | 53,142 | $48.2M | Reduce -1.5% |
| CNM Core & Main Inc. Class A | 4.81% | 895,855 | $46.6M | Reduce -1.5% |
| AAON Aaon Inc. | 4.31% | 547,215 | $41.7M | Reduce -1.1% |
| WK Workiva Inc. | 4.23% | 474,356 | $40.9M | Add +12.8% |
| FSS Federal Signal Corp. | 4.18% | 372,543 | $40.5M | Add +32.5% |
| P Everpure Inc. Class A filed as PURE STORAGE INC | 4.15% | 598,966 | $40.1M | Reduce -10.2% |
| IBP Installed Building Products | 3.52% | 131,367 | $34.1M | Reduce -8.6% |
| SITE Siteone Landscape Supply Inc. | 3.37% | 262,126 | $32.7M | Reduce -13.9% |
| TECH Bio-Techne Corp. | 3.12% | 512,868 | $30.2M | Add +36.0% |
| HGTY Hagerty Inc. Class A | 3.09% | 2,226,961 | $29.9M | Reduce -1.5% |
| MANH Manhattan Associates Inc. | 2.99% | 167,248 | $29.0M | Add +2.6% |
| MOD Modine Manufacturing Co. | 2.91% | 211,143 | $28.2M | Reduce -1.6% |
| BGSI Boyd Group Services Inc. | 2.70% | 119,498 | $26.1M | New |
| STVN Stevanato Group SPA | 2.63% | 1,263,833 | $25.4M | Reduce -1.5% |
| CLBT Cellebrite Di Ltd. | 2.57% | 1,380,940 | $24.9M | Reduce -1.3% |
| AX Axos Financial Inc. | 2.57% | 288,555 | $24.9M | Add +10.3% |
| QTWO Q2 Holdings Inc. filed as Q2 HLDGS INC | 2.56% | 343,134 | $24.8M | Add +11.2% |
| DORM Dorman Products Inc. | 2.01% | 157,561 | $19.4M | Add +5.0% |
| IMAX Imax Corp. | 1.97% | 514,648 | $19.0M | Reduce -0.4% |
| WSO Watsco Inc. | 1.63% | 46,803 | $15.8M | Reduce -33.3% |
| CRAI Cra International Inc. | 1.58% | 76,184 | $15.3M | Reduce -1.6% |
| IVV iShares Core S&P 500 ETF | 1.58% | 22,303 | $15.3M | Reduce -0.3% |
| BWMN Bowman Consulting Group Ltd. | 1.50% | 439,401 | $14.5M | Reduce -2.1% |
| RDVT Red Violet Inc. | 1.46% | 247,470 | $14.1M | Reduce -1.5% |
| VERX Vertex Inc. Class A | 1.34% | 648,097 | $12.9M | Reduce -20.8% |
| OLLI Ollie's Bargain Outlet Holdi | 1.26% | 111,216 | $12.2M | Add +10.1% |
| VBNK Versabank | 1.14% | 736,222 | $11.0M | Add +40.7% |
| LPX Louisiana-Pacific Corp. | 1.13% | 135,592 | $11.0M | New |
| RYAN Ryan Specialty Holdings Inc. | 1.03% | 193,966 | $10.0M | Reduce -29.8% |
| GIL Gildan Activewear Inc. | 1.03% | 159,161 | $9.9M | Add +8.7% |
| CHWY Chewy Inc. Class A | 1.01% | 297,007 | $9.8M | Reduce -1.7% |
| VCTR Victory Capital Holding - A | 0.97% | 148,809 | $9.4M | Reduce -1.6% |
| FIVE Five Below | 0.92% | 47,307 | $8.9M | Reduce -1.4% |
| DSGX The Descartes Systems Grp | 0.91% | 100,973 | $8.9M | Add +1.8% |
| UTI Universal Technical Institut | 0.76% | 283,155 | $7.4M | Reduce -4.3% |
| LCII Lci Industries | 0.74% | 59,153 | $7.2M | Add +30.5% |
| CDRE Cadre Holdings Inc. | 0.67% | 159,913 | $6.5M | Reduce -2.5% |
| BROS Dutch Bros Inc. Class A | 0.61% | 96,537 | $5.9M | New |
| CWST Casella Waste Systems Inc. Class A | 0.51% | 50,755 | $5.0M | New |
| IEFA iShares Core MSCI Eafe ETF | 0.50% | 54,471 | $4.9M | Add +3.8% |
| MAIN Main Street Capital Corp. | 0.40% | 64,529 | $3.9M | Add +1.8% |
| IEMG iShares Core MSCI Emerging | 0.39% | 56,439 | $3.8M | Reduce -2.0% |
| EUSA iShares MSCI USA Equal Weigh | 0.25% | 23,623 | $2.4M | Add +18.0% |
| RY Royal Bank of Canada | 0.23% | 13,266 | $2.3M | No change |
| CAE Cae Inc. | 0.19% | 61,864 | $1.9M | Add +43.0% |
| SHOP Shopify Inc. Class A | 0.18% | 10,937 | $1.8M | No change |
| WCN Waste Connections Inc. | 0.16% | 6,625 | $1.6M | New |
| PMTS Cpi Card Group Inc. | 0.15% | 99,567 | $1.5M | No change |
| NVDA Nvidia Corp. | 0.14% | 7,170 | $1.3M | Add +43.0% |
| GIB Cgi Inc. | 0.14% | 14,220 | $1.3M | Reduce -34.8% |
| CXDO Crexendo Inc. | 0.13% | 195,371 | $1.3M | No change |
| AMZN Amazon.com Inc. | 0.11% | 4,789 | $1.1M | Add +47.6% |
| AAPL Apple Inc. | 0.11% | 4,058 | $1.1M | Add +28.1% |
| FSV Firstservice Corp. | 0.11% | 6,541 | $1.0M | No change |
| MSFT Microsoft Corp. | 0.10% | 2,047 | $990K | Add +33.6% |
| BN Brookfield Corp. | 0.10% | 21,336 | $979K | No change |
| GOOGL Alphabet Inc. Class A | 0.10% | 3,081 | $964K | Add +28.5% |
| OTEX Open Text Corp. | 0.09% | 19,733 | $882K | New |
| FERG Ferguson Enterprises Inc. | 0.08% | 3,416 | $761K | Add +33.9% |
| AEM Agnico Eagle Mines Ltd. | 0.08% | 4,483 | $760K | No change |
| WPM Wheaton Precious Metals Corp. | 0.08% | 6,324 | $743K | No change |
| MDB Mongodb Inc. | 0.07% | 1,671 | $701K | Add +5.3% |
| AGI Alamos Gold Inc. Class A | 0.07% | 18,012 | $695K | No change |
| STN Stantec Inc. | 0.07% | 6,933 | $654K | No change |
| VEEV Veeva Systems Inc. Class A | 0.06% | 2,565 | $573K | Add +13.3% |
| META Meta Platforms Inc. Class A | 0.06% | 838 | $553K | Add +27.9% |
| MA Mastercard Inc. Class A | 0.06% | 955 | $545K | Add +20.3% |
| ONON On Holding AG Class A filed as ON HLDG AG | 0.06% | 11,665 | $542K | Add +101.2% |
| ASML ASML Holding NV-NY Reg SHS | 0.05% | 497 | $532K | Add +14.3% |
| CIGI Colliers Intl GR-Subord Vot | 0.05% | 3,530 | $519K | Reduce -7.3% |
| IDXX Idexx Laboratories Inc. | 0.05% | 757 | $512K | Add +41.2% |
| TDG Transdigm Group Inc. | 0.05% | 382 | $508K | Add +59.8% |
| BKTI BK Technologies Corp. | 0.05% | 6,712 | $501K | No change |
| LIN Linde PLC | 0.05% | 1,173 | $500K | Add +71.2% |
| LLY Eli Lilly & Co. | 0.05% | 460 | $494K | Add +33.7% |
| ORLY O'reilly Automotive Inc. | 0.05% | 4,924 | $449K | Reduce -1.0% |
| WMT Walmart Inc. | 0.05% | 3,951 | $440K | Add +62.7% |
| PGR Progressive Corp. | 0.04% | 1,791 | $408K | Reduce -13.5% |
| BSX Boston Scientific Corp. | 0.04% | 4,200 | $400K | Reduce -3.0% |
| CSGP Costar Group Inc. | 0.04% | 5,874 | $395K | Add +12.8% |
| CPRT Copart Inc. | 0.04% | 9,684 | $379K | Add +87.8% |
| SPOT Spotify Technology SA | 0.04% | 597 | $347K | Add +13.3% |
| HD Home Depot Inc. | 0.04% | 1,000 | $344K | Add +51.5% |
| TT Trane Technologies PLC | 0.03% | 810 | $315K | Add +13.3% |
| CDNS Cadence Design SYS Inc. | 0.03% | 991 | $310K | Add +25.8% |
| PSA Public Storage | 0.03% | 1,057 | $274K | Add +13.4% |
| TYL Tyler Technologies Inc. | 0.03% | 600 | $272K | Add +53.9% |
| UNH Unitedhealth Group Inc. | 0.03% | 824 | $272K | Add +13.0% |
| SHW The Sherwin-Williams Co. | 0.02% | 650 | $211K | New |
| COST Costco Wholesale Corp. | 0.02% | 233 | $201K | New |
Portfolio Sells Q3 2025 → Q4 2025
| TREX Trex Company Inc. | Sold out | 0.00% | −2.44 |
| P Everpure Inc. Class A | Reduce -10.2% | 4.15% | −1.40 |
| CCC CCC Intelligent Solutions Ho | Sold out | 0.00% | −1.21 |
| WSO Watsco Inc. | Reduce -33.3% | 1.63% | −1.19 |
| REZI Resideo Technologies Inc. | Reduce -1.7% | 5.24% | −1.06 |
| KBR KBR Inc. | Sold out | 0.00% | −0.97 |
| AAON Aaon Inc. | Reduce -1.1% | 4.31% | −0.82 |
| VERX Vertex Inc. Class A | Reduce -20.8% | 1.34% | −0.68 |
| STVN Stevanato Group SPA | Reduce -1.5% | 2.63% | −0.65 |
| SITE Siteone Landscape Supply Inc. | Reduce -13.9% | 3.37% | −0.52 |
| RYAN Ryan Specialty Holdings Inc. | Reduce -29.8% | 1.03% | −0.51 |
| BWMN Bowman Consulting Group Ltd. | Reduce -2.1% | 1.50% | −0.39 |
| CHWY Chewy Inc. Class A | Reduce -1.7% | 1.01% | −0.20 |
| UTI Universal Technical Institut | Reduce -4.3% | 0.76% | −0.19 |
| ARX Accelerant Holdings Class A | Sold out | 0.00% | −0.14 |
| CNI Canadian Natl Railway Co. | Sold out | 0.00% | −0.12 |
| MOD Modine Manufacturing Co. | Reduce -1.6% | 2.91% | −0.11 |
| GIB Cgi Inc. | Reduce -34.8% | 0.14% | −0.06 |
| CNM Core & Main Inc. Class A | Reduce -1.5% | 4.81% | −0.05 |
| CRAI Cra International Inc. | Reduce -1.6% | 1.58% | −0.02 |
| PGR Progressive Corp. | Reduce -13.5% | 0.04% | −0.01 |
| ORLY O'reilly Automotive Inc. | Reduce -1.0% | 0.05% | −0.01 |
| CIGI Colliers Intl GR-Subord Vot | Reduce -7.3% | 0.05% | −0.01 |
| VCTR Victory Capital Holding - A | Reduce -1.6% | 0.97% | −0.00 |
| BSX Boston Scientific Corp. | Reduce -3.0% | 0.04% | −0.00 |
| CLBT Cellebrite Di Ltd. | Reduce -1.3% | 2.57% | +0.00 |
| IBP Installed Building Products | Reduce -8.6% | 3.52% | +0.00 |
| IEMG iShares Core MSCI Emerging | Reduce -2.0% | 0.39% | +0.02 |
| MPWR Monolithic Power Systems Inc. | Reduce -1.5% | 4.98% | +0.05 |
| CDRE Cadre Holdings Inc. | Reduce -2.5% | 0.67% | +0.08 |
| IVV iShares Core S&P 500 ETF | Reduce -0.3% | 1.58% | +0.09 |
| RDVT Red Violet Inc. | Reduce -1.5% | 1.46% | +0.15 |
| FIVE Five Below | Reduce -1.4% | 0.92% | +0.18 |
| IMAX Imax Corp. | Reduce -0.4% | 1.97% | +0.29 |
| HGTY Hagerty Inc. Class A | Reduce -1.5% | 3.09% | +0.39 |
Portfolio Buys Q3 2025 → Q4 2025
| BGSI Boyd Group Services Inc. | New | 2.70% | +2.70 |
| GMED Globus Medical Inc. Class A | Add +1.3% | 5.14% | +1.94 |
| LPX Louisiana-Pacific Corp. | New | 1.13% | +1.13 |
| TECH Bio-Techne Corp. | Add +36.0% | 3.12% | +1.04 |
| FSS Federal Signal Corp. | Add +32.5% | 4.18% | +0.86 |
| WK Workiva Inc. | Add +12.8% | 4.23% | +0.64 |
| BROS Dutch Bros Inc. Class A | New | 0.61% | +0.61 |
| CWST Casella Waste Systems Inc. Class A | New | 0.51% | +0.51 |
| VBNK Versabank | Add +40.7% | 1.14% | +0.51 |
| AX Axos Financial Inc. | Add +10.3% | 2.57% | +0.37 |
| QTWO Q2 Holdings Inc. | Add +11.2% | 2.56% | +0.34 |
| LCII Lci Industries | Add +30.5% | 0.74% | +0.32 |
| GIL Gildan Activewear Inc. | Add +8.7% | 1.03% | +0.19 |
| WCN Waste Connections Inc. | New | 0.16% | +0.16 |
| OTEX Open Text Corp. | New | 0.09% | +0.09 |
| CAE Cae Inc. | Add +43.0% | 0.19% | +0.07 |
| IEFA iShares Core MSCI Eafe ETF | Add +3.8% | 0.50% | +0.05 |
| EUSA iShares MSCI USA Equal Weigh | Add +18.0% | 0.25% | +0.05 |
| NVDA Nvidia Corp. | Add +43.0% | 0.14% | +0.05 |
| AMZN Amazon.com Inc. | Add +47.6% | 0.11% | +0.04 |
| GOOGL Alphabet Inc. Class A | Add +28.5% | 0.10% | +0.04 |
| AAPL Apple Inc. | Add +28.1% | 0.11% | +0.03 |
| ONON On Holding AG Class A | Add +101.2% | 0.06% | +0.03 |
| LLY Eli Lilly & Co. | Add +33.7% | 0.05% | +0.03 |
| MDB Mongodb Inc. | Add +5.3% | 0.07% | +0.02 |
| MSFT Microsoft Corp. | Add +33.6% | 0.10% | +0.02 |
| SHW The Sherwin-Williams Co. | New | 0.02% | +0.02 |
| FERG Ferguson Enterprises Inc. | Add +33.9% | 0.08% | +0.02 |
| TDG Transdigm Group Inc. | Add +59.8% | 0.05% | +0.02 |
| COST Costco Wholesale Corp. | New | 0.02% | +0.02 |
| WMT Walmart Inc. | Add +62.7% | 0.05% | +0.02 |
| LIN Linde PLC | Add +71.2% | 0.05% | +0.02 |
| IDXX Idexx Laboratories Inc. | Add +41.2% | 0.05% | +0.02 |
| CPRT Copart Inc. | Add +87.8% | 0.04% | +0.02 |
| ASML ASML Holding NV-NY Reg SHS | Add +14.3% | 0.05% | +0.01 |
| MA Mastercard Inc. Class A | Add +20.3% | 0.06% | +0.01 |
| META Meta Platforms Inc. Class A | Add +27.9% | 0.06% | +0.01 |
| HD Home Depot Inc. | Add +51.5% | 0.04% | +0.01 |
| TYL Tyler Technologies Inc. | Add +53.9% | 0.03% | +0.01 |
| CDNS Cadence Design SYS Inc. | Add +25.8% | 0.03% | +0.00 |
| UNH Unitedhealth Group Inc. | Add +13.0% | 0.03% | +0.00 |
| TT Trane Technologies PLC | Add +13.3% | 0.03% | +0.00 |
| MAIN Main Street Capital Corp. | Add +1.8% | 0.40% | +0.00 |
| PSA Public Storage | Add +13.4% | 0.03% | +0.00 |
| SPOT Spotify Technology SA | Add +13.3% | 0.04% | −0.00 |
| CSGP Costar Group Inc. | Add +12.8% | 0.04% | −0.00 |
| VEEV Veeva Systems Inc. Class A | Add +13.3% | 0.06% | −0.01 |
| DSGX The Descartes Systems Grp | Add +1.8% | 0.91% | −0.01 |
| OLLI Ollie's Bargain Outlet Holdi | Add +10.1% | 1.26% | −0.03 |
| DORM Dorman Products Inc. | Add +5.0% | 2.01% | −0.31 |
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 |