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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
ARGO
126
DELISTED
Argo Group International Holdings, Ltd.
ARGO
– –
-42,060
Closed -$1.71M
CCF
127
DELISTED
Chase Corporation
CCF
– –
-5,150
Closed -$890K
CANO.WS
128
DELISTED
Cano Health, Inc. Redeemable Warrants, each whole warrant is exercisable for one-one hundredth (1/100th) of a share of Class A Common Stock at an exercise price of $1,150
CANO.WS
– –
-53,598
Closed -$4K
NXGN
129
DELISTED
NextGen Healthcare, Inc. Common Stock
NXGN
– –
-10,290
Closed -$332K
NEWR
130
DELISTED
New Relic, Inc.
NEWR
– –
-5,670
Closed -$659K
ICPT
131
DELISTED
Intercept Pharmaceuticals, Inc.
ICPT
– –
-34,840
Closed -$877K
TWNK
132
DELISTED
Hostess Brands, Inc. Class A Common Stock
TWNK
– –
-1,490
Closed -$67K
AVID
133
DELISTED
Avid Technology Inc
AVID
– –
-27,626
Closed -$1.01M
TRHC
134
DELISTED
Tabula Rasa HealthCare, Inc. Common Stock
TRHC
– –
-90,023
Closed -$1.26M
DEN
135
DELISTED
Denbury Inc.
DEN
– –
-9,370
Closed -$1.25M
BOAC
136
DELISTED
Bluescape Opportunities Acquisition Corp.
BOAC
– –
-46,852
Closed -$638K
FRGI
137
DELISTED
Fiesta Restaurant Group, Inc.
FRGI
– –
-76,220
Closed -$876K
SCPL
138
DELISTED
SciPlay Corporation Class A Common Stock
SCPL
– –
-7,100
Closed -$220K
CIR
139
DELISTED
CIRCOR International, Inc
CIR
– –
-15,930
Closed -$1.21M
EMAN
140
DELISTED
eMagin Corporation
EMAN
– –
-512,400
Closed -$1.39M
HCCI
141
DELISTED
Heritage-Crystal Clean, Inc.
HCCI
– –
-21,712
Closed -$1.34M
THRN
142
DELISTED
Thorne Healthtech, Inc. Common Stock
THRN
– –
-79,830
Closed -$1.1M
ZYNE
143
DELISTED
Zynerba Pharmaceuticals, Inc
ZYNE
– –
-123,444
Closed -$213K
NATI
144
DELISTED
National Instruments Corp
NATI
– –
-16,420
Closed -$1.33M
KLR
145
DELISTED
Kaleyra, Inc.
KLR
– –
-92,360
Closed -$908K
CELL
146
DELISTED
PhenomeX Inc. Common Stock
CELL
– –
-635,800
Closed -$862K
TMBR
147
DELISTED
Timber Pharmaceuticals, Inc.
TMBR
– –
-96,790
Closed -$391K
HZNP
148
DELISTED
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
– –
-4,330
Closed -$680K
ESTE
149
DELISTED
Earthstone Energy Inc. Class A Common Stock
ESTE
– –
-15,620
Closed -$429K
ATVI
150
DELISTED
Activision Blizzard
ATVI
– –
-3,250
Closed -$413K
3 4 5
6
7

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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.