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PenderFund Capital Management Portfolio holdings

AUM $639M
1-Year Est. Return 31.05%
This Fund
S&P 500
This Quarter Est. Return
+12.14%
1 Year Est. Return
+31.05%
3 Year Est. Return
+130.01%
5 Year Est. Return
+118.66%
10 Year Est. Return
–
AUM
$286M
AUM Growth
+$45.8M
Cap. Flow
-$55.6M
Cap. Flow %
-19.43%
Top 10 Hldgs %
50.37%
Holding
78
New
6
Increased
13
Reduced
13
Closed
16

Top Buys

Rank Stock Value
1
LBRDK icon
Liberty Broadband Class C
LBRDK
+$6.33M
2
MIDD icon
Middleby
MIDD
+$5.96M
3
ENOV icon
Enovis
ENOV
+$5.72M
4
SWIR
Sierra Wireless
SWIR
+$2.63M
5
MCA
BLACKROCK MUNIYIELD CALIFORNIA QUALITY FUND, INC
MCA
+$2.33M

Top Sells

Rank Stock Value
1
KW
Kennedy-Wilson Holdings
KW
+$11M
2
BPY
Brookfield Property Partners L.P. Limited Partnership Units
BPY
+$9.02M
3
LILA icon
Liberty Latin America Class A
LILA
+$8.75M
4
ZYME icon
Zymeworks
ZYME
+$5.36M
5
CMG icon
Chipotle Mexican Grill
CMG
+$4.89M

Sector Composition

Rank Sector Weight
1 Technology 21.26%
2 Communication Services 12.89%
3 Real Estate 9.43%
4 Materials 7.69%
5 Healthcare 5.47%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
EGAN icon
26
eGain
EGAN
$186M
$2.55M 0.89%
146,713
+107,596
+275% +$1.16M
BHR.PRB
27
Braemar Hotels & Resorts 5.50% Series B Preferred Stock
BHR.PRB
$53M
– –
0
– –
EXFO
28
DELISTED
EXFO INC.
EXFO
$2.44M 0.85%
523,100
-561,300
-52% -$2.04M
MCA
29
DELISTED
BLACKROCK MUNIYIELD CALIFORNIA QUALITY FUND, INC
MCA
$2.33M 0.82%
+175,000
New +$2.33M
MUI
30
DELISTED
BlackRock Municipal Income Fund, Inc.
MUI
$2.31M 0.81%
+175,000
New +$2.29M
BWG
31
BrandywineGLOBAL Global Income Opportunities Fund
BWG
$129M
$2.04M 0.71%
178,948
– –
BN icon
32
Brookfield
BN
$102B
$1.69M 0.59%
86,027
-8,408
-9% -$120K
EMD
33
Western Asset Emerging Markets Debt Fund
EMD
$606M
$1.47M 0.51%
110,406
– –
QMCO icon
34
Quantum Corp
QMCO
$411M
$1.34M 0.47%
27,802
-1,485
-5% -$99.6K
DHXM
35
DELISTED
DHX Media Ltd. Common Voting and Variable Voting Shares
DHXM
$1.26M 0.44%
+517,000
New +$1.39M
GOOG icon
36
Alphabet (Google) Class C
GOOG
$4.11T
$548K 0.19%
7,000
– –
QTRH
37
DELISTED
Quarterhill Inc. Common Shares
QTRH
$536K 0.19%
399,700
-570,000
-59% -$781K
SD icon
38
SandRidge Energy
SD
$503M
$533K 0.19%
30,049
– –
SBUX icon
39
Starbucks
SBUX
$119B
$484K 0.17%
7,200
+2,500
+53% +$142K
GLIBA
40
DELISTED
GCI Liberty, Inc. Class A Common Stock (DE)
GLIBA
$456K 0.16%
+7,300
New +$337K
BRK.B icon
41
Berkshire Hathaway Class B
BRK.B
$1.1T
$441K 0.15%
1,750
– –
V icon
42
Visa
V
$677B
$433K 0.15%
2,360
– –
OAK
43
DELISTED
OAKTREE CAPITAL GROUP, LLC
OAK
$428K 0.15%
7,930
– –
BNS icon
44
Scotiabank
BNS
$105B
$384K 0.13%
5,040
– –
STWD icon
45
Starwood Property Trust
STWD
$6.12B
$374K 0.13%
12,750
– –
TU icon
46
Telus
TU
$17.4B
$327K 0.11%
13,540
– –
SABA
47
Saba Capital Income & Opportunities Fund II
SABA
$220M
$307K 0.11%
25,000
– –
UUUU.WS
48
DELISTED
Energy Fuels Inc.
UUUU.WS
$300K 0.1%
200,000
– –
NWL icon
49
Newell Brands
NWL
$2.21B
$266K 0.09%
+7,300
New +$190K
UL icon
50
Unilever
UL
$142B
$254K 0.09%
3,111
– –
1
2
3

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SJIC
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BPC
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BIA
Bell Investment Advisors Oakland, California $639M AUM 13.28% 1-Year Est. Return
KCM
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SCP
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SFG
SevenBridge Financial Group Harrisburg, Pennsylvania $640M AUM 27.29% 1-Year Est. Return
FTC
Farmers Trust Company Youngstown, Ohio $637M AUM 23.14% 1-Year Est. Return
PFC
Phocas Financial Corp Alameda, California $637M AUM 39.08% 1-Year Est. Return

PenderFund Capital Management's Q2 2018 Portfolio in Review

As of Q2 2018, PenderFund Capital Management held 78 positions worth $286M, up 19% from $240M the previous quarter. Its ten largest holdings account for 50% of the portfolio.

PenderFund Capital Management withdrew a net $55.6M in Q2 2018, closing 16 positions and reducing 13 holdings. Its most notable exit was Brookfield Property Partners L.P. Limited Partnership Units, an estimated $9.02M position sold in full.

By sector, the portfolio is most concentrated in Technology at 21% of assets, up from 20% a quarter earlier, followed by Communication Services and Real Estate.

Against the trend, PenderFund Capital Management opened a new position in BLACKROCK MUNIYIELD CALIFORNIA QUALITY FUND, INC worth $2.33M.

  • PenderFund Capital Management's largest Q2 2018 buy was BLACKROCK MUNIYIELD CALIFORNIA QUALITY FUND, INC: 175,000 shares worth $2.33M.
  • PenderFund Capital Management added most to Liberty Broadband Class C in Q2 2018, an estimated $6.33M increase.
  • PenderFund Capital Management's biggest Q2 2018 reduction was Kennedy-Wilson Holdings, cutting an estimated $11M.
  • PenderFund Capital Management fully exited Brookfield Property Partners L.P. Limited Partnership Units in Q2 2018, selling an estimated $9.02M.
  • PenderFund Capital Management's ten largest holdings make up 50% of its $286M portfolio in Q2 2018.
  • PenderFund Capital Management opened 6 new positions and closed 16 in Q2 2018.
  • PenderFund Capital Management's portfolio value rose 19% quarter-over-quarter to $286M.

Based on PenderFund Capital Management's 13F filing for Q2 2018, filed 17 Jul 2018.