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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
+5.62%
1 Year Est. Return
+31.05%
3 Year Est. Return
+130.01%
5 Year Est. Return
+118.66%
10 Year Est. Return
–
AUM
$360M
AUM Growth
-$10.4M
Cap. Flow
-$98.5M
Cap. Flow %
-27.39%
Top 10 Hldgs %
38.06%
Holding
83
New
14
Increased
7
Reduced
17
Closed
13

Top Buys

Rank Stock Value
1
JE
Just Energy Group Inc
JE
+$33.6M
2
PPLI
People Inc
PPLI
+$6.64M
3
BHC icon
Bausch Health
BHC
+$5.5M
4
UTI icon
Universal Technical Institute
UTI
+$3.46M
5
SFIX
Stitch Fix
SFIX
+$2.94M

Top Sells

Rank Stock Value
1
EGAN icon
eGain
EGAN
+$9.08M
2
ESI icon
Element Solutions
ESI
+$6.08M
3
MAXR
Maxar Technologies Inc. Common Stock
MAXR
+$6.07M
4
BB icon
BlackBerry
BB
+$5.63M
5
BPY
Brookfield Property Partners L.P. Limited Partnership Units
BPY
+$3.54M

Sector Composition

Rank Sector Weight
1 Technology 19.55%
2 Communication Services 8.86%
3 Energy 7.55%
4 Consumer Discretionary 7.32%
5 Financials 6.02%
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
$3.82M 1.06%
200,000
– –
MAXR
27
DELISTED
Maxar Technologies Inc. Common Stock
MAXR
$3.7M 1.03%
111,251
-274,076
-71% -$6.07M
LILA icon
28
Liberty Latin America Class A
LILA
$1.75B
$3.44M 0.96%
456,095
-27,822
-6% -$169K
OPEN icon
29
Opendoor
OPEN
$3.34B
$3.37M 0.94%
+139,509
New +$1.67M
UTI icon
30
Universal Technical Institute
UTI
$1.53B
$3.3M 0.92%
+492,644
New +$3.46M
FAX
31
abrdn Asia-Pacific Income Fund
FAX
$595M
$3.2M 0.89%
101,667
– –
CLOV icon
32
Clover Health Investments
CLOV
$2.45B
$2.97M 0.83%
+170,224
New +$1.88M
PSTH
33
DELISTED
Pershing Square Tontine Holdings, Ltd.
PSTH
$2.81M 0.78%
+93,000
New +$2.09M
MSFT icon
34
Microsoft
MSFT
$3.71T
$2.76M 0.77%
10,000
– –
SHSP
35
DELISTED
SharpSpring, Inc.
SHSP
$2.69M 0.75%
+181,014
New +$1.73M
JWS.U
36
DELISTED
Jaws Acquisition Corp. Units, each consisting of one Class A ordinary share and one-third of one red
JWS.U
$2.68M 0.75%
+181,500
New +$2.01M
WPF.U
37
DELISTED
Foley Trasimene Acquisition Corp.
WPF.U
$2.62M 0.73%
+174,100
New +$1.91M
FLR icon
38
Fluor
FLR
$6.81B
$2.48M 0.69%
211,700
-23,400
-10% -$246K
BIDU icon
39
Baidu
BIDU
$37.1B
$2.37M 0.66%
14,500
– –
BN icon
40
Brookfield
BN
$108B
$2.33M 0.65%
98,936
– –
CIEN icon
41
Ciena
CIEN
$57.2B
$1.99M 0.55%
37,459
– –
MUI
42
DELISTED
BlackRock Municipal Income Fund, Inc.
MUI
$1.87M 0.52%
100,000
-100,000
-50% -$1.41M
UPLD icon
43
Upland Software
UPLD
$12.6M
$1.79M 0.5%
3,559
– –
BPY
44
DELISTED
Brookfield Property Partners L.P. Limited Partnership Units
BPY
$1.61M 0.45%
102,109
-309,766
-75% -$3.54M
BHR.PRB
45
Braemar Hotels & Resorts 5.50% Series B Preferred Stock
BHR.PRB
$51.2M
$1.6M 0.44%
101,720
– –
VVR icon
46
Invesco Senior Income Trust
VVR
$456M
$1.45M 0.4%
300,000
– –
NOC icon
47
Northrop Grumman
NOC
$80.7B
$1.04M 0.29%
2,400
+1,200
+100% +$391K
MODN
48
DELISTED
MODEL N, INC.
MODN
$1.04M 0.29%
21,754
-10,700
-33% -$404K
LILAK icon
49
Liberty Latin America Class C
LILAK
$1.72B
$792K 0.22%
+91,682
New +$734K
STWD icon
50
Starwood Property Trust
STWD
$5.91B
$773K 0.22%
38,450
– –
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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WHGAM
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PenderFund Capital Management's Q3 2020 Portfolio in Review

As of Q3 2020, PenderFund Capital Management held 83 positions worth $360M, down 2.8% from $370M the previous quarter. Its ten largest holdings account for 38% of the portfolio.

PenderFund Capital Management withdrew a net $98.5M in Q3 2020, closing 13 positions and reducing 17 holdings. Its most notable exit was Element Solutions, an estimated $6.08M position sold in full.

By sector, the portfolio is most concentrated in Technology at 20% of assets, down from 22% a quarter earlier, followed by Communication Services and Energy.

Against the trend, PenderFund Capital Management opened a new position in Just Energy Group Inc worth $21.8M.

  • PenderFund Capital Management's largest Q3 2020 buy was Just Energy Group Inc: 2,907,702 shares worth $21.8M.
  • PenderFund Capital Management added most to Stitch Fix in Q3 2020, an estimated $2.94M increase.
  • PenderFund Capital Management's biggest Q3 2020 reduction was eGain, cutting an estimated $9.08M.
  • PenderFund Capital Management fully exited Element Solutions in Q3 2020, selling an estimated $6.08M.
  • PenderFund Capital Management's ten largest holdings make up 38% of its $360M portfolio in Q3 2020.
  • PenderFund Capital Management opened 14 new positions and closed 13 in Q3 2020.
  • PenderFund Capital Management's portfolio value fell 2.8% quarter-over-quarter to $360M.

Based on PenderFund Capital Management's 13F filing for Q3 2020, filed 16 Nov 2020.