Pembroke Management 13F-HR Quarterly holdings report by institutional manager

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

OMB APPROVAL

OMB Number:		3235-0006
Expires:	Oct 31, 2018
Estimated average burden
hours per response:		23.8

COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
ALBANY INTL CORP	CL A	012348108	29,708	376,862	SH		SOLE	NONE	376,862	0	0
AXOS FINANCIAL	COM	05465C100	16,678	487,262	SH		SOLE	NONE	487,262	0	0
BIO TECHNE CORP	COM	09073M104	21,172	74,550	SH		SOLE	NONE	74,550	0	0
BOWMAN CONSULTING GR	COM	103002101	11,020	754,801	SH		SOLE	NONE	754,801	0	0
BROOKFIELD ASSET MGT	CL A LTD VT SH	112585104	271	4,805	SH		SOLE	NONE	4,805	0	0
BRP INC	COM SUN VTG	05577W200	24,182	284,201	SH		SOLE	NONE	284,201	0	0
CERTARA INC	COM	15687V109	5,933	446,819	SH		SOLE	NONE	446,819	0	0
CGI INC	CL A SUB VTG	12532H104	465	4,476	SH		SOLE	NONE	4,476	0	0
CHART INDS INC	COM	16115Q308	24,907	135,108	SH		SOLE	NONE	135,108	0	0
CI FINANCIAL CORP	COM	125491100	2,294	173,324	SH		SOLE	NONE	173,324	0	0
COLLIERS INTL	SUB VTG SHS	194693107	33,589	265,339	SH		SOLE	NONE	265,339	0	0
CONSTRUCTION PARTNRS	COM CL A	21044C107	15,638	596,212	SH		SOLE	NONE	596,212	0	0
COUCHBASE INC	COM	22207T101	10,615	743,905	SH		SOLE	NONE	743,905	0	0
CRA INTERNATIONAL	COM	12618T105	25,118	283,054	SH		SOLE	NONE	283,054	0	0
DESCARTES SYSTEMS	COM	249906108	24,700	281,610	SH		SOLE	NONE	281,610	0	0
DOLBY LABORATORIES	COM CL A	25659T107	13,732	210,787	SH		SOLE	NONE	210,787	0	0
DORMAN PRODUCTS	COM	258278100	25,363	308,862	SH		SOLE	NONE	308,862	0	0
ENERGY RECOVERY INC	COM	29270J100	13,518	621,811	SH		SOLE	NONE	621,811	0	0
ENPHASE ENERGY	COM	29355A107	14,703	52,992	SH		SOLE	NONE	52,992	0	0
EURONET WORLDWIDE	COM	298736109	8,142	107,483	SH		SOLE	NONE	107,483	0	0
FIRSTSERVICE CORP	COM	33767E202	309	1,883	SH		SOLE	NONE	1,883	0	0
FOX FACTORY HLDG	COM	35138V102	7,043	89,063	SH		SOLE	NONE	89,063	0	0
FRANCO NEVADA CORP	COM	351858105	505	3,063	SH		SOLE	NONE	3,063	0	0
FRANKLIN COVEY CO	COM	353469109	27,722	610,766	SH		SOLE	NONE	610,766	0	0
GENTHERM INC	COM	37253A103	22,335	449,133	SH		SOLE	NONE	449,133	0	0
GILDAN ACTIVEWEAR	COM	375916103	5,052	129,387	SH		SOLE	NONE	129,387	0	0
GLOBUS MED INC	CL A	379577208	35,193	590,798	SH		SOLE	NONE	590,798	0	0
GROCERY OUTLET HLD	COM	39874R101	6,323	189,955	SH		SOLE	NONE	189,955	0	0
INSTALLED BUILDING	COM	45780R101	26,074	321,942	SH		SOLE	NONE	321,942	0	0
INTL MONEY EXPRESS	COM	46005L101	15,794	693,042	SH		SOLE	NONE	693,042	0	0
ISHARES	MSCI EMG MKT ETF	464287234	5,738	164,511	SH		SOLE	NONE	164,511	0	0
ISHARES TR	CORE MSCI EAFE	46432F842	2,628	49,903	SH		SOLE	NONE	49,903	0	0
ISHARES TRUST	CORE S&P500 ETF	464287200	9,775	27,255	SH		SOLE	NONE	27,255	0	0
KBR INC	COM	48242W106	8,920	206,400	SH		SOLE	NONE	206,400	0	0
LCI INDUSTRIES	COM	50189K103	4,656	45,899	SH		SOLE	NONE	45,899	0	0
LESLIES INC	COM	527064109	5,769	392,231	SH		SOLE	NONE	392,231	0	0
MANHATTAN ASSOCS IN	COM	562750109	4,999	37,585	SH		SOLE	NONE	37,585	0	0
MONOLITHIC POWER	COM	609839105	19,666	54,119	SH		SOLE	NONE	54,119	0	0
MP MATERIALS CORP	COM CL A	553368101	8,139	298,161	SH		SOLE	NONE	298,161	0	0
OMNICELL INC	COM	68213N109	7,863	90,350	SH		SOLE	NONE	90,350	0	0
PAYCOM SOFTWARE	COM	70432V102	21,404	64,865	SH		SOLE	NONE	64,865	0	0
PERFICIENT INC	COM	71375U101	16,799	258,371	SH		SOLE	NONE	258,371	0	0
QUALYS INC	COM	74758T303	12,591	90,336	SH		SOLE	NONE	90,336	0	0
REPLIGEN CORP	COM	759916109	5,984	31,985	SH		SOLE	NONE	31,985	0	0
ROYAL BANK CDA	COM	780087102	575	4,624	SH		SOLE	NONE	4,624	0	0
SANGOMA TECHNOLOGS	COM NEW	80100R408	14,212	1,971,282	SH		SOLE	NONE	1,971,282	0	0
SEACOAST BKG CORP FL	COM NEW	811707801	18,824	622,703	SH		SOLE	NONE	622,703	0	0
SHUTTERSTOCK INC	COM	825690100	17,824	355,277	SH		SOLE	NONE	355,277	0	0
SITEONE LANDSCAPE	COM	82982L103	21,171	203,300	SH		SOLE	NONE	203,300	0	0
SMITH A O	COM	831865209	19,552	402,488	SH		SOLE	NONE	402,488	0	0
SPROUT SOCIAL INC	COM CL A	85209W109	16,587	273,366	SH		SOLE	NONE	273,366	0	0
SPS COMMERCE INC	COM	78463M107	19,628	158,000	SH		SOLE	NONE	158,000	0	0
STANTEC INC	COM	85472N109	344	5,688	SH		SOLE	NONE	5,688	0	0
STEVANATO GROUP SPA	ORD SHS	T9224W109	5,104	301,343	SH		SOLE	NONE	301,343	0	0
STONERIDGE INC	COM	86183P102	22,617	1,334,376	SH		SOLE	NONE	1,334,376	0	0
TELUS INTL (CDA)	SUB VTG SHS	87975H100	477	13,205	SH		SOLE	NONE	13,205	0	0
TREX CO INC	COM	89531P105	18,430	419,457	SH		SOLE	NONE	419,457	0	0
TRICON RESIDENTIAL	COM NPV	89612W102	18,016	1,507,643	SH		SOLE	NONE	1,507,643	0	0
TTEC HOLDINGS INC	COM	89854H102	19,778	446,362	SH		SOLE	NONE	446,362	0	0
TUCOWS	COM NEW	898697206	19,377	383,476	SH		SOLE	NONE	383,476	0	0
UNIVERSAL TECHNICAL	COM	913915104	132	24,397	SH		SOLE	NONE	24,397	0	0
VERSABANK	COM	92512J106	1,244	128,415	SH		SOLE	NONE	128,415	0	0
WATSCO INC	COM	942622200	16,368	63,578	SH		SOLE	NONE	63,578	0	0
WHEATON PRECIOUS MET	COM	962879102	348	7,793	SH		SOLE	NONE	7,793	0	0
WNS HOLDINGS LTD	SPON ADR	92932M101	37,956	463,784	SH		SOLE	NONE	463,784	0	0
XPEL INC	COM	98379L100	9,291	144,182	SH		SOLE	NONE	144,182	0	0