PenderFund (CANE) holds 696,000 shares (5.64%) — Schedule 13G/A

Rhea-AI Filing Summary

PenderFund Capital Management Ltd. reported beneficial ownership of 696,000 shares of Teucrium Commodity Trust common stock, representing 5.64% of the class, with the position stated as of 09/30/2025. The filing is an Amendment No. 1 to a Schedule 13G, and the form is signed by Amanda Patterson, CFO/CCO.

Insights

Institutional Ownership Analyst

Large passive holding disclosed: 696,000 shares (5.64%).

PenderFund is listed as an institutional manager holding 696,000 shares of common stock as of 09/30/2025. The Schedule 13G/A format and the 5.64% stake are consistent with passive institutional disclosure rather than an activist intent.

Ownership concentration at this level can appear in regulatory reports and may affect shareholder voting blocks; subsequent filings would show increases, decreases, or conversion to a 13D if intentions change.

Key Figures

Shares beneficially owned: 696,000 shares Percent of class: 5.64% Form type: Schedule 13G/A (Amendment No. 1) +2 more

5 metrics

Shares beneficially owned 696,000 shares reported as of 09/30/2025

Percent of class 5.64% Teucrium Commodity Trust common stock

Form type Schedule 13G/A (Amendment No. 1) ownership disclosure amendment

Sole voting power 696,000 shares voting power listed in filing

Sole dispositive power 696,000 shares dispositive power listed in filing

Key Terms

Schedule 13G/A, Beneficial ownership, Institutional Manager

3 terms

Schedule 13G/A regulatory

"Amendment No. 1 and Schedule 13G/A ownership filing"

A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.

Beneficial ownership financial

"Amount beneficially owned: 696,000 (b) Percent of class: 5.64%"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

Institutional Manager regulatory

"CUSIP No. | Institutional Manager Item 4. | Ownership"

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

Teucrium Commodity Trust

(Name of Issuer)

Common Stock

(Title of Class of Securities)

88166A508

(CUSIP Number)

09/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 88166A508

1

Names of Reporting Persons

PenderFund Capital Management Ltd.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

BRITISH COLUMBIA, CANADA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 696,000.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 696,000.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

696,000.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.6 %

12

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Teucrium Commodity Trust
(b)	Address of issuer's principal executive offices: THREE MAIN STREET, THREE MAIN STREET, BURLINGTON, VERMONT, 05401.
Item 2.
(a)	Name of person filing: PenderFund Capital Management Ltd.
(b)	Address or principal business office or, if none, residence: The address of the principal business office of PenderFund Capital Management Ltd. is 1830-1066 West Hastings Street, Vancouver, BC, Canada V6E 3X2
(c)	Citizenship: PenderFund Capital Management Ltd. is a corporation formed under the laws of British Columbia, Canada
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.:
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
	Institutional Manager
Item 4.	Ownership
(a)	Amount beneficially owned: 696,000
(b)	Percent of class: 5.64%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 696,000
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 696,000
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

PenderFund Capital Management Ltd.

Signature:	Amanda Patterson
Name/Title:	CFO, CCO
Date:	04/10/2026

FAQ

What stake does PenderFund (CANE) report in this Schedule 13G/A?

PenderFund reports beneficial ownership of 696,000 shares, equal to 5.64% of Teucrium Commodity Trust common stock as of 09/30/2025. The amount and percentage are shown on the amended Schedule 13G/A signature page.

Does this Schedule 13G/A indicate active control or passive ownership?

The filing is a Schedule 13G/A, which typically indicates passive institutional ownership. The form lists PenderFund as an institutional manager holding 696,000 shares and does not assert activist control in the excerpt provided.

Who signed the Schedule 13G/A amendment for PenderFund?

The amendment is signed by Amanda Patterson, listed as CFO and CCO. The signature block in the excerpt shows the signing official and a signature date of 04/10/2026.

What is the reporting date for the ownership figure in this filing?

The ownership position is reported as of 09/30/2025 in the Schedule 13G/A text. That date is the time anchor tied to the 696,000-share figure and the 5.64% percentage.

How much voting and dispositive power does PenderFund have over these shares?

The filing shows PenderFund has sole voting power for 696,000 shares and sole dispositive power for 696,000 shares, with no shared voting or dispositive power listed in the excerpt.