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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
+8.71%
1 Year Est. Return
+31.05%
3 Year Est. Return
+130.01%
5 Year Est. Return
+118.66%
10 Year Est. Return
–
AUM
$307M
AUM Growth
-$26.9M
Cap. Flow
-$145M
Cap. Flow %
-47.35%
Top 10 Hldgs %
60.78%
Holding
159
New
47
Increased
13
Reduced
13
Closed
54

Top Buys

Rank Stock Value
1
NVG icon
Nuveen AMT-Free Municipal Credit Income Fund
NVG
+$4.44M
2
NWLI
National Western Life Group, Inc. Class A
NWLI
+$856K
3
CHS
Chicos FAS, Inc.
CHS
+$771K
4
VERY
Vericity, Inc. Common Stock
VERY
+$766K
5
SANG
Sangoma Technologies
SANG
+$633K

Top Sells

Rank Stock Value
1
CEF icon
Sprott Physical Gold and Silver Trust
CEF
+$4.71M
2
ATEX icon
Anterix
ATEX
+$3.98M
3
JD icon
JD.com
JD
+$2.24M
4
BIDU icon
Baidu
BIDU
+$2.2M
5
FAX
abrdn Asia-Pacific Income Fund
FAX
+$2.15M

Sector Composition

Rank Sector Weight
1 Technology 17.58%
2 Financials 11.18%
3 Energy 3.65%
4 Communication Services 2.61%
5 Consumer Discretionary 1.89%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
HWH icon
101
HWH International
HWH
$11.3M
– –
-36
Closed -$3K
PPLI
102
People Inc
PPLI
$3.2B
– –
-31,816
Closed -$1.79M
JD icon
103
JD.com
JD
$44.3B
– –
-56,665
Closed -$2.24M
LBRDK icon
104
Liberty Broadband Class C
LBRDK
$5.32B
– –
-6,250
Closed -$775K
SQNS
105
Sequans Communications SA
SQNS
$41.8M
– –
-9,930
Closed -$954K
OKLO
106
Oklo
OKLO
$7.34B
– –
-34,776
Closed -$489K
RPT
107
Rithm Property Trust
RPT
$94.2M
– –
-14,865
Closed -$780K
USARW
108
DELISTED
USA Rare Earth Inc Warrant
USARW
– –
-12,499
Closed -$3K
SAVE
109
DELISTED
Spirit Airlines, Inc.
SAVE
– –
-33,930
Closed -$760K
BHAC
110
DELISTED
Focus Impact BH3 Acquisition Company Class A Common Stock
BHAC
– –
-13,756
Closed -$197K
BACA
111
DELISTED
Berenson Acquisition Corp. I
BACA
– –
-1,791
Closed -$25K
LCA
112
DELISTED
Landcadia Holdings IV, Inc. Class A Common Stock
LCA
– –
-1,145
Closed -$16K
ELIQ
113
DELISTED
Electriq Power Holdings, Inc.
ELIQ
– –
-21,917
Closed -$52K
MDWT
114
DELISTED
Midwest Holding Inc. Common Stock
MDWT
– –
-35,618
Closed -$1.26M
AAIC
115
DELISTED
Arlington Asset Investment Corp.
AAIC
– –
-72,090
Closed -$419K
SGEN
116
DELISTED
Seagen Inc. Common Stock
SGEN
– –
-2,630
Closed -$758K
CTG
117
DELISTED
Computer Task Group, Inc.
CTG
– –
-87,710
Closed -$1.23M
ARCE
118
DELISTED
Arco Platform Limited Class A Common Shares
ARCE
– –
-31,023
Closed -$581K
ABCM
119
DELISTED
Abcam PLC
ABCM
– –
-35,830
Closed -$1.1M
VRTV
120
DELISTED
VERITIV CORPORATION
VRTV
– –
-4,190
Closed -$961K
GHL
121
DELISTED
Greenhill & Co., Inc.
GHL
– –
-82,410
Closed -$1.66M
PACW
122
DELISTED
PacWest Bancorp
PACW
– –
-5,992
Closed -$64K
HT
123
DELISTED
Hersha Hospitality Trust Priority Class A Common Shares of Beneficial Interest
HT
– –
-66,867
Closed -$896K
AVTA
124
DELISTED
Avantax, Inc. Common Stock
AVTA
– –
-42,064
Closed -$1.46M
SCU
125
DELISTED
Sculptor Capital Management, Inc. Class A Common Stock
SCU
– –
-56,280
Closed -$887K
3 4
5
6 7

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SJIC
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BPC
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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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WCM
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PenderFund Capital Management's Q4 2023 Portfolio in Review

As of Q4 2023, PenderFund Capital Management held 159 positions worth $307M, down 8.1% from $334M the previous quarter. Its ten largest holdings account for 61% of the portfolio.

PenderFund Capital Management withdrew a net $145M in Q4 2023, closing 54 positions and reducing 13 holdings. Its most notable exit was Sprott Physical Gold and Silver Trust, an estimated $4.71M position sold in full.

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

Against the trend, PenderFund Capital Management opened a new position in National Western Life Group, Inc. Class A worth $1.15M.

  • PenderFund Capital Management's largest Q4 2023 buy was National Western Life Group, Inc. Class A: 1,800 shares worth $1.15M.
  • PenderFund Capital Management added most to Nuveen AMT-Free Municipal Credit Income Fund in Q4 2023, an estimated $4.44M increase.
  • PenderFund Capital Management's biggest Q4 2023 reduction was Anterix, cutting an estimated $3.98M.
  • PenderFund Capital Management fully exited Sprott Physical Gold and Silver Trust in Q4 2023, selling an estimated $4.71M.
  • PenderFund Capital Management's ten largest holdings make up 61% of its $307M portfolio in Q4 2023.
  • PenderFund Capital Management opened 47 new positions and closed 54 in Q4 2023.
  • PenderFund Capital Management's portfolio value fell 8.1% quarter-over-quarter to $307M.

Based on PenderFund Capital Management's 13F filing for Q4 2023, filed 14 Feb 2024.