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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
+2.3%
1 Year Est. Return
+31.05%
3 Year Est. Return
+130.01%
5 Year Est. Return
+118.66%
10 Year Est. Return
–
AUM
$334M
AUM Growth
+$12M
Cap. Flow
-$97.9M
Cap. Flow %
-29.34%
Top 10 Hldgs %
52.21%
Holding
162
New
52
Increased
11
Reduced
11
Closed
49

Top Buys

Rank Stock Value
1
NAD icon
Nuveen Quality Municipal Income Fund
NAD
+$9.25M
2
NEA icon
Nuveen AMT-Free Quality Municipal Income Fund
NEA
+$8.93M
3
CEF icon
Sprott Physical Gold and Silver Trust
CEF
+$3.63M
4
NZF icon
Nuveen Municipal Credit Income Fund
NZF
+$1.21M
5
NVG icon
Nuveen AMT-Free Municipal Credit Income Fund
NVG
+$1.13M

Top Sells

Rank Stock Value
1
FAX
abrdn Asia-Pacific Income Fund
FAX
+$3.76M
2
BKI
Black Knight, Inc. Common Stock
BKI
+$1.95M
3
ISEE
IVERIC bio, Inc. Common Stock
ISEE
+$1.53M
4
DSEY
Diversey Holdings, Ltd. Ordinary Shares
DSEY
+$1.53M
5
RADI
Radius Global Infrastructure, Inc. Class A Common Stock
RADI
+$1.53M

Sector Composition

Rank Sector Weight
1 Technology 16.61%
2 Financials 11.33%
3 Communication Services 5.32%
4 Energy 4.08%
5 Consumer Discretionary 2.09%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BN icon
26
Brookfield
BN
$109B
$1.73M 0.52%
61,035
– –
ARGO
27
DELISTED
Argo Group International Holdings, Ltd.
ARGO
$1.71M 0.51%
42,060
+9,920
+31% +$295K
GHL
28
DELISTED
Greenhill & Co., Inc.
GHL
$1.66M 0.5%
82,410
+17,030
+26% +$251K
AVTA
29
DELISTED
Avantax, Inc. Common Stock
AVTA
$1.46M 0.44%
+42,064
New +$998K
NVG icon
30
Nuveen AMT-Free Municipal Credit Income Fund
NVG
$2.67B
$1.4M 0.42%
+100,000
New +$1.13M
EMAN
31
DELISTED
eMagin Corporation
EMAN
$1.39M 0.42%
512,400
+122,080
+31% +$242K
HCCI
32
DELISTED
Heritage-Crystal Clean, Inc.
HCCI
$1.34M 0.4%
+21,712
New +$968K
NATI
33
DELISTED
National Instruments Corp
NATI
$1.33M 0.4%
16,420
+6,010
+58% +$353K
MDWT
34
DELISTED
Midwest Holding Inc. Common Stock
MDWT
$1.26M 0.38%
35,618
+11,060
+45% +$293K
TRHC
35
DELISTED
Tabula Rasa HealthCare, Inc. Common Stock
TRHC
$1.26M 0.38%
+90,023
New +$854K
DEN
36
DELISTED
Denbury Inc.
DEN
$1.25M 0.37%
+9,370
New +$848K
CTG
37
DELISTED
Computer Task Group, Inc.
CTG
$1.23M 0.37%
+87,710
New +$808K
CIR
38
DELISTED
CIRCOR International, Inc
CIR
$1.21M 0.36%
15,930
+3,430
+27% +$191K
AEL
39
DELISTED
American Equity Investment Life Holding Company
AEL
$1.18M 0.35%
+16,160
New +$865K
THRN
40
DELISTED
Thorne Healthtech, Inc. Common Stock
THRN
$1.1M 0.33%
+79,830
New +$608K
NGMS
41
DELISTED
NeoGames S.A. Ordinary Shares
NGMS
$1.1M 0.33%
30,110
– –
ABCM
42
DELISTED
Abcam PLC
ABCM
$1.1M 0.33%
+35,830
New +$824K
PLM
43
DELISTED
PolyMet Mining Corp.
PLM
$1.08M 0.32%
+380,905
New +$788K
AVID
44
DELISTED
Avid Technology Inc
AVID
$1.01M 0.3%
+27,626
New +$727K
VRTV
45
DELISTED
VERITIV CORPORATION
VRTV
$961K 0.29%
+4,190
New +$650K
MCHP icon
46
Microchip Technology
MCHP
$43B
$960K 0.29%
9,060
– –
SQNS
47
Sequans Communications SA
SQNS
$43.1M
$954K 0.29%
+9,930
New +$650K
KLR
48
DELISTED
Kaleyra, Inc.
KLR
$908K 0.27%
92,360
+46,790
+103% +$321K
HT
49
DELISTED
Hersha Hospitality Trust Priority Class A Common Shares of Beneficial Interest
HT
$896K 0.27%
+66,867
New +$512K
CCF
50
DELISTED
Chase Corporation
CCF
$890K 0.27%
+5,150
New +$645K
1
2
3 4 5

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PenderFund Capital Management's Q3 2023 Portfolio in Review

As of Q3 2023, PenderFund Capital Management held 162 positions worth $334M, up 3.7% from $322M the previous quarter. Its ten largest holdings account for 52% of the portfolio.

PenderFund Capital Management withdrew a net $97.9M in Q3 2023, closing 49 positions and reducing 11 holdings. Its most notable exit was Black Knight, Inc. Common Stock, an estimated $1.95M position sold in full.

By sector, the portfolio is most concentrated in Technology at 17% of assets, down from 18% a quarter earlier, followed by Financials and Communication Services.

Against the trend, PenderFund Capital Management opened a new position in Nuveen Quality Municipal Income Fund worth $11.7M.

  • PenderFund Capital Management's largest Q3 2023 buy was Nuveen Quality Municipal Income Fund: 850,000 shares worth $11.7M.
  • PenderFund Capital Management added most to Nuveen Municipal Credit Income Fund in Q3 2023, an estimated $1.21M increase.
  • PenderFund Capital Management's biggest Q3 2023 reduction was abrdn Asia-Pacific Income Fund, cutting an estimated $3.76M.
  • PenderFund Capital Management fully exited Black Knight, Inc. Common Stock in Q3 2023, selling an estimated $1.95M.
  • PenderFund Capital Management's ten largest holdings make up 52% of its $334M portfolio in Q3 2023.
  • PenderFund Capital Management opened 52 new positions and closed 49 in Q3 2023.
  • PenderFund Capital Management's portfolio value rose 3.7% quarter-over-quarter to $334M.

Based on PenderFund Capital Management's 13F filing for Q3 2023, filed 14 Nov 2023.