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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
-13.59%
1 Year Est. Return
+31.05%
3 Year Est. Return
+130.01%
5 Year Est. Return
+118.66%
10 Year Est. Return
–
AUM
$320M
AUM Growth
-$35.9M
Cap. Flow
-$120M
Cap. Flow %
-37.36%
Top 10 Hldgs %
47.54%
Holding
69
New
13
Increased
11
Reduced
7
Closed
13

Top Buys

Rank Stock Value
1
Z icon
Zillow
Z
+$8.8M
2
EBIX
Ebix Inc
EBIX
+$8.69M
3
NVG icon
Nuveen AMT-Free Municipal Credit Income Fund
NVG
+$4.84M
4
BLW icon
BlackRock Limited Duration Income Trust
BLW
+$4.53M
5
NAD icon
Nuveen Quality Municipal Income Fund
NAD
+$4.33M

Top Sells

Rank Stock Value
1
MIDD icon
Middleby
MIDD
+$10.7M
2
WYNN icon
Wynn Resorts
WYNN
+$8M
3
DBRG icon
DigitalBridge
DBRG
+$5.27M
4
SSNC icon
SS&C Technologies
SSNC
+$4.63M
5
JD icon
JD.com
JD
+$4.58M

Sector Composition

Rank Sector Weight
1 Technology 16.57%
2 Communication Services 5.23%
3 Financials 4.54%
4 Consumer Discretionary 4.51%
5 Real Estate 4.26%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BN icon
26
Brookfield
BN
$108B
$2.21M 0.69%
98,936
+7,847
+9% +$161K
BIDU icon
27
Baidu
BIDU
$37.1B
$2.19M 0.68%
15,700
– –
PAR icon
28
PAR Technology
PAR
$706M
$2.09M 0.65%
115,400
+2,800
+2% +$73.3K
UPLD icon
29
Upland Software
UPLD
$12.6M
$1.34M 0.42%
3,559
– –
FLR icon
30
Fluor
FLR
$6.81B
$1.32M 0.41%
+136,100
New +$1.9M
ENB icon
31
Enbridge
ENB
$113B
$1.27M 0.4%
30,885
– –
SD icon
32
SandRidge Energy
SD
$496M
$1.17M 0.37%
926,325
– –
PHD
33
DELISTED
Pioneer Floating Rate Fund
PHD
$1.08M 0.34%
100,000
– –
ENOV icon
34
Enovis
ENOV
$1.52B
$853K 0.27%
17,788
– –
BBU
35
DELISTED
Brookfield Business Partners
BBU
$814K 0.25%
35,647
-74,285
-68% -$1.8M
BHR.PRB
36
Braemar Hotels & Resorts 5.50% Series B Preferred Stock
BHR.PRB
$51.2M
$794K 0.25%
101,720
+25,000
+33% +$378K
FCT
37
First Trust Senior Floating Rate Income Fund II
FCT
$251M
$669K 0.21%
50,000
-50,000
-50% -$580K
STWD icon
38
Starwood Property Trust
STWD
$5.9B
$608K 0.19%
38,450
+28,600
+290% +$627K
NOC icon
39
Northrop Grumman
NOC
$80.7B
$530K 0.17%
+1,200
New +$417K
DESP
40
DELISTED
Despegar.com
DESP
$304K 0.09%
38,100
– –
BRW
41
Saba Capital Income & Opportunities Fund
BRW
$340M
$261K 0.08%
+25,000
New +$237K
SBUX icon
42
Starbucks
SBUX
$120B
$258K 0.08%
2,700
– –
FSV icon
43
FirstService
FSV
$6.27B
$109K 0.03%
+1,000
New +$95.9K
UUUU.WS
44
DELISTED
Energy Fuels Inc.
UUUU.WS
$83K 0.03%
200,000
– –
ACNT icon
45
Ascent Industries
ACNT
$137M
– –
-182,917
Closed -$3.07M
BWG
46
BrandywineGLOBAL Global Income Opportunities Fund
BWG
$131M
– –
-158,948
Closed -$2.61M
DBRG icon
47
DigitalBridge
DBRG
$2.95B
– –
-213,494
Closed -$5.27M
EMD
48
Western Asset Emerging Markets Debt Fund
EMD
$614M
– –
-60,406
Closed -$1.12M
MIDD icon
49
Middleby
MIDD
$6.03B
– –
-75,000
Closed -$10.7M
TGB
50
Trekor Metals
TGB
$3.02B
– –
-615,959
Closed -$388K
1
2
3

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PenderFund Capital Management's Q1 2020 Portfolio in Review

As of Q1 2020, PenderFund Capital Management held 69 positions worth $320M, down 10% from $356M the previous quarter. Its ten largest holdings account for 48% of the portfolio.

PenderFund Capital Management withdrew a net $120M in Q1 2020, closing 13 positions and reducing 7 holdings. Its most notable exit was Middleby, an estimated $10.7M position sold in full.

By sector, the portfolio is most concentrated in Technology at 17% of assets, down from 20% a quarter earlier, followed by Communication Services and Financials.

Against the trend, PenderFund Capital Management opened a new position in Zillow worth $9.66M.

  • PenderFund Capital Management's largest Q1 2020 buy was Zillow: 190,574 shares worth $9.66M.
  • PenderFund Capital Management added most to Western Asset Inflation-Linked Opportunities & Income Fund in Q1 2020, an estimated $2.23M increase.
  • PenderFund Capital Management's biggest Q1 2020 reduction was SS&C Technologies, cutting an estimated $4.63M.
  • PenderFund Capital Management fully exited Middleby in Q1 2020, selling an estimated $10.7M.
  • PenderFund Capital Management's ten largest holdings make up 48% of its $320M portfolio in Q1 2020.
  • PenderFund Capital Management opened 13 new positions and closed 13 in Q1 2020.
  • PenderFund Capital Management's portfolio value fell 10% quarter-over-quarter to $320M.

Based on PenderFund Capital Management's 13F filing for Q1 2020, filed 27 Apr 2020.