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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
-15.92%
1 Year Est. Return
+31.05%
3 Year Est. Return
+130.01%
5 Year Est. Return
+118.66%
10 Year Est. Return
–
AUM
$302M
AUM Growth
-$19.6M
Cap. Flow
-$51.2M
Cap. Flow %
-16.94%
Top 10 Hldgs %
42.9%
Holding
78
New
9
Increased
15
Reduced
17
Closed
8

Top Buys

Rank Stock Value
1
SSNC icon
SS&C Technologies
SSNC
+$10.8M
2
KKR icon
KKR & Co
KKR
+$7.7M
3
WYNN icon
Wynn Resorts
WYNN
+$5.5M
4
MCHP icon
Microchip Technology
MCHP
+$5.19M
5
MODN
MODEL N, INC.
MODN
+$4.48M

Top Sells

Rank Stock Value
1
LILA icon
Liberty Latin America Class A
LILA
+$10.6M
2
ENOV icon
Enovis
ENOV
+$9.18M
3
AIG.WS
American International Group, Inc.
AIG.WS
+$5.17M
4
JD icon
JD.com
JD
+$4.73M
5
BIDU icon
Baidu
BIDU
+$4.29M

Sector Composition

Rank Sector Weight
1 Technology 21.42%
2 Communication Services 12.27%
3 Consumer Discretionary 12.25%
4 Real Estate 9.53%
5 Materials 6.15%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
PKX icon
26
POSCO
PKX
$16.1B
$3.05M 1.01%
39,252
-14,348
-27% -$823K
MUI
27
DELISTED
BlackRock Municipal Income Fund, Inc.
MUI
$3.04M 1%
240,000
+65,000
+37% +$818K
NAN icon
28
Nuveen New York Quality Municipal Income Fund
NAN
$368M
$2.94M 0.97%
240,000
+15,000
+7% +$183K
MCA
29
DELISTED
BLACKROCK MUNIYIELD CALIFORNIA QUALITY FUND, INC
MCA
$2.91M 0.96%
230,000
+55,000
+31% +$693K
BHR.PRB
30
Braemar Hotels & Resorts 5.50% Series B Preferred Stock
BHR.PRB
$52.7M
$2.39M 0.79%
139,404
+4,757
+4% +$82.9K
PCOM
31
DELISTED
Points.com Inc. Common Shares
PCOM
$1.82M 0.6%
138,260
– –
NQP
32
DELISTED
Nuveen Pennsylvania Quality Municipal Income Fund
NQP
$1.77M 0.58%
145,000
+45,000
+45% +$552K
BWG
33
BrandywineGLOBAL Global Income Opportunities Fund
BWG
$130M
$1.65M 0.55%
158,948
– –
LILA icon
34
Liberty Latin America Class A
LILA
$1.64B
$1.61M 0.53%
115,804
-915,522
-89% -$10.6M
NRK icon
35
Nuveen New York AMT-Free Quality Municipal Income Fund
NRK
$901M
$1.51M 0.5%
+130,000
New +$1.51M
VPV icon
36
Invesco Pennsylvania Value Municipal Income Trust
VPV
$193M
$1.51M 0.5%
130,081
– –
BN icon
37
Brookfield
BN
$104B
$1.16M 0.38%
58,560
-12,052
-17% -$180K
EMD
38
Western Asset Emerging Markets Debt Fund
EMD
$609M
$1.11M 0.37%
90,406
– –
ENOV icon
39
Enovis
ENOV
$1.68B
$1.05M 0.35%
19,531
-196,694
-91% -$9.18M
Z icon
40
Zillow
Z
$7.79B
$780K 0.26%
+17,000
New +$604K
FAX
41
DELISTED
abrdn Asia-Pacific Income Fund
FAX
$774K 0.26%
33,333
– –
PHIIK
42
DELISTED
PHI, Inc. Non-Voting Common Stock
PHIIK
$561K 0.19%
186,550
+98,670
+112% +$571K
GOOG icon
43
Alphabet (Google) Class C
GOOG
$4.36T
$512K 0.17%
7,000
– –
GLIBA
44
DELISTED
GCI Liberty, Inc. Class A Common Stock (DE)
GLIBA
$426K 0.14%
7,300
– –
YTRA icon
45
Yatra Online
YTRA
$52.7M
$345K 0.11%
54,112
-8,588
-14% -$41.3K
DESP
46
DELISTED
Despegar.com
DESP
$344K 0.11%
+18,100
New +$273K
LBTYK icon
47
Liberty Global Class C
LBTYK
$3.53B
$313K 0.1%
10,900
-27,400
-72% -$656K
TU icon
48
Telus
TU
$14.9B
$312K 0.1%
13,540
– –
STWD icon
49
Starwood Property Trust
STWD
$5.92B
$277K 0.09%
9,850
-2,900
-23% -$62.5K
V icon
50
Visa
V
$684B
$267K 0.09%
1,460
– –
1
2
3

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BIA
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KCM
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SCP
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SFG
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FTC
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PenderFund Capital Management's Q4 2018 Portfolio in Review

As of Q4 2018, PenderFund Capital Management held 78 positions worth $302M, down 6.1% from $322M the previous quarter. Its ten largest holdings account for 43% of the portfolio.

PenderFund Capital Management withdrew a net $51.2M in Q4 2018, closing 8 positions and reducing 17 holdings. Its most notable exit was American International Group, Inc., an estimated $5.17M position sold in full.

By sector, the portfolio is most concentrated in Technology at 21% of assets, up from 15% a quarter earlier, followed by Communication Services and Consumer Discretionary.

Against the trend, PenderFund Capital Management opened a new position in SS&C Technologies worth $14.4M.

  • PenderFund Capital Management's largest Q4 2018 buy was SS&C Technologies: 222,800 shares worth $14.4M.
  • PenderFund Capital Management added most to KKR & Co in Q4 2018, an estimated $7.7M increase.
  • PenderFund Capital Management's biggest Q4 2018 reduction was Liberty Latin America Class A, cutting an estimated $10.6M.
  • PenderFund Capital Management fully exited American International Group, Inc. in Q4 2018, selling an estimated $5.17M.
  • PenderFund Capital Management's ten largest holdings make up 43% of its $302M portfolio in Q4 2018.
  • PenderFund Capital Management opened 9 new positions and closed 8 in Q4 2018.
  • PenderFund Capital Management's portfolio value fell 6.1% quarter-over-quarter to $302M.

Based on PenderFund Capital Management's 13F filing for Q4 2018, filed 24 Jan 2019.