SEC 13F Intelligence

Managers / Q4 2021 · view latest →

Pembroke Management, LTD

CIK 0001063497 · 1002 SHERBROOKE STREET WEST, SUITE 1700, MONTREAL, A8, H3A 3S4 · 514-848-1991

Reported Value
$1.4B
Q4 2021
Positions
73
Filings on Record
31
2019–present window
Filed
Feb 9, 2022
original filing

Summary

Pembroke Management, Ltd reported $1.4B in U.S.-listed holdings across 73 positions for Q4 2021.

Its largest position, CIGIEUR, represents 4.2% of the portfolio.

Compared with Q3 2021, the fund opened 12 new positions and exited 6.

Portfolio Metrics

Turnover
+10.6%
vs prior filed quarter
Top-10 Concentration
+30.8%
share of reported value
Largest Position
+4.2%
Colliers Intl
New / Exited
12 / 6
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $733MQ4 ’18Q1 ’19: $925MQ2 ’19: $947MQ3 ’19: $919MQ4 ’19: $1.2BQ4 ’19Q1 ’20: $630MQ2 ’20: $851MQ3 ’20: $918MQ4 ’20: $1.2BQ4 ’20Q1 ’21: $1.2BQ2 ’21: $1.3BQ3 ’21: $1.3BQ4 ’21: $1.4BQ4 ’21Q1 ’22: $1.2BQ2 ’22: $967MQ3 ’22: $901MQ4 ’22: $935MQ4 ’22Q1 ’23: $914MQ2 ’23: $928MQ3 ’23: $732MQ4 ’23: $805MQ4 ’23Q1 ’24: $850MQ2 ’24: $744MQ3 ’24: $784MQ4 ’24: $802MQ4 ’24Q1 ’25: $686MQ2 ’25: $827MQ3 ’25: $1.0BQ4 ’25: $968MQ4 ’25Q1 ’26: $691Mfilingsflow.com

Portfolio Composition

By security type
Common Stock: 92.1%ADR: 3.3%Other: 3.0%ETP: 1.6%
  • Common Stock · 92.1% · $1.3B
  • ADR · 3.3% · $45M
  • Other · 3.0% · $41M
  • ETP · 1.6% · $22M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2021 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
TRICON RESIDENTIALNEW+1.44M1.44M+$28M$28M
STCSANGOMA TECHNOLOGSNEW+1.04M1.04M+$23M$23M
ERIIENERGY RECOVERY INCNEW+444.0K444.0K+$10M$10M
BWMNBOWMAN CONSULTING GRNEW+206.7K206.7K+$4M$4M
RYROYAL BANK CDANEW+3.6K3.6K+$488,000$488,000
FNVFRANCO NEVADA CORPNEW+2.4K2.4K+$422,000$422,000
TIXTTELUS INTL (CDA)NEW+8.2K8.2K+$342,000$342,000
WPMWHEATON PRECIOUS METNEW+5.7K5.7K+$311,000$311,000

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q4 2021

50 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1CIGIEURCOLLIERS INTLhistory →SUB VTG SHS4.17%$57M302.2K
2WNSNWNS HOLDINGS LTDhistory →SPON ADR3.29%$45M508.2K
3GMEDGLOBUS MED INChistory →CL A3.19%$43M602.4K
4SITESITEONE LANDSCAPEhistory →COM3.03%$41M170.4K
5TREXTREX CO INChistory →COM3.01%$41M304.4K
6TUQ1TUCOWShistory →COM NEW2.98%$41M382.6K
7AINALBANY INTL CORPhistory →CL A2.97%$41M457.9K
8TECHBIO TECHNE CORPhistory →COM2.82%$38M74.4K
9IBPINSTALLED BUILDINGhistory →COM2.77%$38M270.1K
10FCFRANKLIN COVEY COhistory →COM2.61%$36M768.9K
11QA4AGENTHERM INChistory →COM2.60%$36M408.5K
12AOSSMITH A Ohistory →COM2.59%$35M411.8K
13DSGDESCARTES SYSTEMShistory →COM2.43%$33M316.6K
14SSTKSHUTTERSTOCK INChistory →COM2.42%$33M297.6K
15TTECTTEC HOLDINGS INChistory →COM2.40%$33M362.1K
16DORMDORMAN PRODUCTShistory →COM2.37%$32M286.5K
17DOOBRP INChistory →COM SUN VTG2.28%$31M281.3K
18PRFTUSDPERFICIENT INChistory →COM2.25%$31M237.1K
19TRICON RESIDENTIALCOM NPV2.05%$28M1.44M
20OMCLOMNICELL INChistory →COM2.01%$27M152.2K
21BB4AXOS FINANCIALhistory →COM2.01%$27M490.1K
22KORNIT DIGITAL LTDSHS1.99%$27M178.6K
23CRAICRA INTERNATIONALhistory →COM1.94%$27M284.1K
24SRISTONERIDGE INChistory →COM1.80%$25M1.25M
25GTLSCHART INDS INChistory →COM1.74%$24M149.2K
26STCSANGOMA TECHNOLOGShistory →COM NEW1.67%$23M1.04M
27MPWRMONOLITHIC POWERhistory →COM1.64%$22M45.5K
28BRKRBRUKER CORPhistory →COM1.51%$21M245.4K
29SBG1SEACOAST BKG CORP FLhistory →COM NEW1.48%$20M571.3K
30NOTVQINOTIV INChistory →COM1.47%$20M477.1K
31PTS1EURPOINTS INTL LTDhistory →COM NEW1.44%$20M1.02M
32SPSCSPS COMMERCE INChistory →COM1.32%$18M126.8K
33SPTSPROUT SOCIAL INChistory →COM CL A1.24%$17M186.0K
34FSVFIRSTSERVICE CORPhistory →COM1.21%$16M66.3K
35FUODOLBY LABORATORIEShistory →COM CL A1.21%$16M173.1K
36IMXIINTL MONEY EXPRESShistory →COM1.21%$16M1.03M
37CSTLCASTLE BIOSCIENCES Ihistory →COM1.20%$16M383.4K
38ROADCONSTRUCTION PARTNRShistory →COM CL A1.18%$16M549.3K
39LCIILCI INDUSTRIEShistory →COM1.15%$16M101.0K
40ENPHENPHASE ENERGYhistory →COM1.13%$15M84.4K
41WSOWATSCO INChistory →COM1.06%$14M46.1K
42MPMP MATERIALS CORPhistory →COM CL A1.00%$14M300.0K
43CHARLES RIV LABS INTCOM0.98%$13M35.6K
44PAYCPAYCOM SOFTWAREhistory →COM0.96%$13M31.4K
45EEFTEURONET WORLDWIDEhistory →COM0.94%$13M108.0K
46OLLIOLLIES BARGAIN OUThistory →COM0.92%$12M243.9K
47FOXFFOX FACTORY HLDGhistory →COM0.84%$11M67.0K
48K6BKBR INChistory →COM0.80%$11M228.7K
49PRCHPORCH GROUP INChistory →COM0.75%$10M660.6K
50ISHARES TRUSTCORE S&P500 ETF0.75%$10M21.5K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$691M97May 14, 202613F-HRchanges · EDGAR ↗
Q4 2025$968M92Feb 12, 202613F-HRchanges · EDGAR ↗
Q3 2025$1.0B89Oct 28, 202513F-HRchanges · EDGAR ↗
Q2 2025$827M78Aug 7, 202513F-HRchanges · EDGAR ↗
Q1 2025$686M59May 15, 202513F-HRchanges · EDGAR ↗
Q4 2024$802M60Jan 31, 202513F-HRchanges · EDGAR ↗
Q3 2024$784M58Oct 29, 202413F-HRchanges · EDGAR ↗
Q2 2024$744M62Aug 1, 202413F-HRchanges · EDGAR ↗
Q1 2024$850M61May 8, 202413F-HRchanges · EDGAR ↗
Q4 2023$805M62Feb 13, 202413F-HRchanges · EDGAR ↗
Q3 2023$732M58Nov 8, 202313F-HRchanges · EDGAR ↗
Q2 2023$928M63Jul 27, 202313F-HRchanges · EDGAR ↗
Q1 2023$914M63May 3, 202313F-HRchanges · EDGAR ↗
Q4 2022$935M66Feb 1, 202313F-HRchanges · EDGAR ↗
Q3 2022$901M66Oct 24, 202213F-HRchanges · EDGAR ↗
Q2 2022$967M64Jul 26, 202213F-HRchanges · EDGAR ↗
Q1 2022$1.2B68May 6, 202213F-HRchanges · EDGAR ↗
Q4 2021$1.4B73Feb 9, 202213F-HRchanges · EDGAR ↗
Q3 2021$1.3B67Nov 8, 202113F-HRchanges · EDGAR ↗
Q2 2021$1.3B66Aug 11, 2021RESTATEMENTchanges · EDGAR ↗
Q1 2021$1.2B65May 6, 202113F-HRchanges · EDGAR ↗
Q4 2020$1.2B61Feb 5, 202113F-HRchanges · EDGAR ↗
Q3 2020$918M59Nov 4, 202013F-HRchanges · EDGAR ↗
Q2 2020$851M59Aug 3, 202013F-HRchanges · EDGAR ↗
Q1 2020$630M58Apr 28, 202013F-HRchanges · EDGAR ↗
Q4 2019$1.2B73Jan 29, 202013F-HRchanges · EDGAR ↗
Q3 2019$919M63Oct 29, 201913F-HRchanges · EDGAR ↗
Q2 2019$947M61Jul 24, 201913F-HRchanges · EDGAR ↗
Q1 2019$925M61Apr 12, 201913F-HRchanges · EDGAR ↗
Q4 2018$733M58Jan 25, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.