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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
+25.63%
1 Year Est. Return
+31.05%
3 Year Est. Return
+130.01%
5 Year Est. Return
+118.66%
10 Year Est. Return
–
AUM
$370M
AUM Growth
+$49.6M
Cap. Flow
-$125M
Cap. Flow %
-33.75%
Top 10 Hldgs %
38.38%
Holding
75
New
17
Increased
6
Reduced
20
Closed
4

Top Buys

Rank Stock Value
1
IBKR icon
Interactive Brokers
IBKR
+$3.82M
2
SFIX
Stitch Fix
SFIX
+$3.64M
3
EVV
Eaton Vance Limited Duration Income Fund
EVV
+$3.27M
4
TPL icon
Texas Pacific Land
TPL
+$2.35M
5
XYZ
Block Inc
XYZ
+$2.21M

Top Sells

Rank Stock Value
1
Z icon
Zillow
Z
+$4.1M
2
JD icon
JD.com
JD
+$2.78M
3
SSNC icon
SS&C Technologies
SSNC
+$2.34M
4
VTA
INVESCO DYNAMIC CREDIT OPPORTUNITIES FUND
VTA
+$2.25M
5
MAXR
Maxar Technologies Inc. Common Stock
MAXR
+$1.72M

Sector Composition

Rank Sector Weight
1 Technology 22.49%
2 Consumer Discretionary 6.76%
3 Financials 5.62%
4 Communication Services 5.06%
5 Real Estate 3.78%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NEA icon
26
Nuveen AMT-Free Quality Municipal Income Fund
NEA
$3.39B
$3.77M 1.02%
200,000
-100,000
-33% -$1.35M
MUI
27
DELISTED
BlackRock Municipal Income Fund, Inc.
MUI
$3.75M 1.01%
200,000
-100,000
-33% -$1.33M
TPL icon
28
Texas Pacific Land
TPL
$27.5B
$3.43M 0.93%
+38,250
New +$2.35M
FAX
29
abrdn Asia-Pacific Income Fund
FAX
$594M
$3.15M 0.85%
610,000
+100,000
+20% +$517K
MHK icon
30
Mohawk Industries
MHK
$9.27B
$3.05M 0.83%
+22,100
New +$1.94M
MSFT icon
31
Microsoft
MSFT
$3.69T
$2.76M 0.75%
10,000
-100
-1% -$18.2K
CIEN icon
32
Ciena
CIEN
$58.8B
$2.75M 0.74%
+37,459
New +$1.86M
IPOC.U
33
DELISTED
Social Capital Hedosophia Holdings Corp. III Units, each consisting of one Class A ordinary share an
IPOC.U
$2.74M 0.74%
+170,224
New +$1.82M
CNQ icon
34
Canadian Natural Resources
CNQ
$96.5B
$2.55M 0.69%
+220,944
New +$1.78M
BN icon
35
Brookfield
BN
$110B
$2.37M 0.64%
98,936
– –
BIDU icon
36
Baidu
BIDU
$38.3B
$2.36M 0.64%
14,500
-1,200
-8% -$128K
IPOB.U
37
DELISTED
Social Capital Hedosophia Holdings Corp. II Units, each consisting of one Class A ordinary share and
IPOB.U
$2.3M 0.62%
+135,009
New +$1.48M
TWTR
38
DELISTED
Twitter, Inc.
TWTR
$2.28M 0.62%
+56,400
New +$1.7M
ANET icon
39
Arista Networks
ANET
$243B
$2.25M 0.61%
+126,400
New +$1.71M
AVNW icon
40
Aviat Networks
AVNW
$282M
$2.19M 0.59%
+176,396
New +$1.1M
UPLD icon
41
Upland Software
UPLD
$14.1M
$1.68M 0.45%
3,559
– –
MODN
42
DELISTED
MODEL N, INC.
MODN
$1.53M 0.41%
+32,454
New +$946K
VVR icon
43
Invesco Senior Income Trust
VVR
$457M
$1.41M 0.38%
300,000
-300,000
-50% -$1.02M
BHR.PRB
44
Braemar Hotels & Resorts 5.50% Series B Preferred Stock
BHR.PRB
$51.8M
$1.39M 0.38%
101,720
– –
SU icon
45
Suncor Energy
SU
$76.4B
$1.08M 0.29%
+47,400
New +$810K
BBU
46
DELISTED
Brookfield Business Partners
BBU
$956K 0.26%
35,647
– –
STWD icon
47
Starwood Property Trust
STWD
$6.02B
$781K 0.21%
38,450
– –
ENB icon
48
Enbridge
ENB
$117B
$747K 0.2%
18,085
-12,800
-41% -$393K
FCT
49
First Trust Senior Floating Rate Income Fund II
FCT
$251M
$739K 0.2%
50,000
– –
ENOV icon
50
Enovis
ENOV
$1.77B
$671K 0.18%
10,291
-7,497
-42% -$331K
1
2
3

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BPC
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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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WHGAM
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PenderFund Capital Management's Q2 2020 Portfolio in Review

As of Q2 2020, PenderFund Capital Management held 75 positions worth $370M, up 15% from $320M the previous quarter. Its ten largest holdings account for 38% of the portfolio.

PenderFund Capital Management withdrew a net $125M in Q2 2020, closing 4 positions and reducing 20 holdings. Its most notable exit was INVESCO DYNAMIC CREDIT OPPORTUNITIES FUND, an estimated $2.25M position sold in full.

By sector, the portfolio is most concentrated in Technology at 22% of assets, up from 17% a quarter earlier, followed by Consumer Discretionary and Financials.

Against the trend, PenderFund Capital Management opened a new position in Interactive Brokers worth $5.18M.

  • PenderFund Capital Management's largest Q2 2020 buy was Interactive Brokers: 365,200 shares worth $5.18M.
  • PenderFund Capital Management added most to Fluor in Q2 2020, an estimated $1.04M increase.
  • PenderFund Capital Management's biggest Q2 2020 reduction was Zillow, cutting an estimated $4.1M.
  • PenderFund Capital Management fully exited INVESCO DYNAMIC CREDIT OPPORTUNITIES FUND in Q2 2020, selling an estimated $2.25M.
  • PenderFund Capital Management's ten largest holdings make up 38% of its $370M portfolio in Q2 2020.
  • PenderFund Capital Management opened 17 new positions and closed 4 in Q2 2020.
  • PenderFund Capital Management's portfolio value rose 15% quarter-over-quarter to $370M.

Based on PenderFund Capital Management's 13F filing for Q2 2020, filed 17 Aug 2020.