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PCM
PenderFund Capital Management Portfolio holdings
AUM
$639M
1-Year Est. Return
31.05%
This Fund
S&P 500
This Quarter
Est. Return
+11.47%
1 Year Est. Return
+31.05%
3 Year Est. Return
+130.01%
5 Year Est. Return
+118.66%
10 Year Est. Return
–
AUM
$356M
AUM Growth
+$59.1M
(+20%)
Cap. Flow
-$111M
Cap. Flow
% of AUM
-31.07%
Top 10 Holdings %
Top 10 Hldgs %
47.22%
Holding
67
New
6
Increased
11
Reduced
12
Closed
13
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
BBU
Brookfield Business Partners
BBU
|
+$2.85M |
| 2 |
eGain
EGAN
|
+$2.42M |
| 3 |
BPY
Brookfield Property Partners L.P. Limited Partnership Units
BPY
|
+$2.03M |
| 4 |
Howard Hughes
HHH
|
+$1.87M |
| 5 |
Brookfield
BN
|
+$1.44M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
CARB
Carbonite Inc
CARB
|
+$12.3M |
| 2 |
Zillow
Z
|
+$10.5M |
| 3 |
SWIR
Sierra Wireless
SWIR
|
+$10.2M |
| 4 |
TripAdvisor
TRIP
|
+$8.19M |
| 5 |
Baidu
BIDU
|
+$6.01M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 19.73% |
| 2 | Real Estate | 8.33% |
| 3 | Consumer Discretionary | 8.1% |
| 4 | Communication Services | 7.76% |
| 5 | Financials | 7.29% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
SS&C Technologies
SSNC
$17.8B
| $19.1M | 5.37% |
239,850
-8,400
| -3% | -$471K |
|
|
2
Howard Hughes
HHH
$3.93B
| $18.6M | 5.22% |
118,476
+16,889
| +17% | +$1.87M |
|
3
KKR & Co
KKR
$89.2B
| $18.3M | 5.13% |
482,440
+10,100
| +2% | +$288K |
|
|
4
Zillow
Z
$7.04B
| – | – |
-283,000
| Closed | -$10.5M |
|
|
MAXR
5
DELISTED
Maxar Technologies Inc. Common Stock
MAXR
| $15.5M | 4.35% |
761,001
-254,755
| -25% | -$2.65M |
|
6
JD.com
JD
$40.8B
| $12.9M | 3.63% |
282,805
-5,400
| -2% | -$174K |
|
|
7
eGain
EGAN
$176M
| $11.4M | 3.19% |
1,106,345
+312,260
| +39% | +$2.42M |
|
|
BPY
8
DELISTED
Brookfield Property Partners L.P. Limited Partnership Units
BPY
| $10.8M | 3.02% |
453,875
+107,209
| +31% | +$2.03M |
|
9
Middleby
MIDD
$6.05B
| $10.7M | 2.99% |
75,000
+8,700
| +13% | +$998K |
|
10
Liberty Latin America Class A
LILA
$1.51B
| $8.29M | 2.33% |
516,558
-15,462
| -3% | -$180K |
|
11
Wynn Resorts
WYNN
$10.1B
| $8M | 2.25% |
44,400
| – | – |
|
12
BlackBerry
BB
$5.01B
| $7.32M | 2.05% |
877,080
+20,100
| +2% | +$110K |
|
|
HBI
13
DELISTED
Hanesbrands
HBI
| $6.74M | 1.89% |
349,411
+42,800
| +14% | +$651K |
|
|
LEAF
14
DELISTED
Leaf Group Ltd.
LEAF
| $6.44M | 1.81% |
1,240,227
| – | – |
|
15
Element Solutions
ESI
$9.12B
| $6.08M | 1.71% |
401,233
| – | – |
|
16
DigitalBridge
DBRG
$2.94B
| $5.27M | 1.48% |
213,494
+20,150
| +10% | +$415K |
|
17
SandRidge Energy
SD
$510M
| $5.1M | 1.43% |
926,325
-2,831
| -0.3% | -$11.8K |
|
18
PAR Technology
PAR
$637M
| $4.49M | 1.26% |
112,600
-28,400
| -20% | -$777K |
|
|
CLDR
19
DELISTED
Cloudera, Inc.
CLDR
| $4.41M | 1.24% |
291,900
-140,500
| -32% | -$1.35M |
|
|
PCOM
20
DELISTED
Points.com Inc. Common Shares
PCOM
| $3.88M | 1.09% |
195,857
-21,600
| -10% | -$266K |
|
|
BBU
21
DELISTED
Brookfield Business Partners
BBU
| $3.79M | 1.06% |
+109,932
| New | +$2.85M |
|
22
Ascent Industries
ACNT
$137M
| $3.07M | 0.86% |
182,917
+17,912
| +11% | +$249K |
|
|
BWG
23
BrandywineGLOBAL Global Income Opportunities Fund
BWG
$129M
| $2.61M | 0.73% |
158,948
| – | – |
|
|
24
Baidu
BIDU
$35.8B
| $2.58M | 0.72% |
15,700
-52,841
| -77% | -$6.01M |
|
|
25
Brookfield
BN
$102B
| $2.44M | 0.68% |
91,089
+72,311
| +385% | +$1.44M |
|
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PenderFund Capital Management's Q4 2019 Portfolio in Review
As of Q4 2019, PenderFund Capital Management held 67 positions worth $356M, up 20% from $297M the previous quarter. Its ten largest holdings account for 47% of the portfolio.
PenderFund Capital Management withdrew a net $111M in Q4 2019, closing 13 positions and reducing 12 holdings. Its most notable exit was Carbonite Inc, an estimated $12.3M position sold in full.
By sector, the portfolio is most concentrated in Technology at 20% of assets, down from 24% a quarter earlier, followed by Real Estate and Consumer Discretionary.
Against the trend, PenderFund Capital Management opened a new position in Brookfield Business Partners worth $3.79M.
- PenderFund Capital Management's largest Q4 2019 buy was Brookfield Business Partners: 109,932 shares worth $3.79M.
- PenderFund Capital Management added most to eGain in Q4 2019, an estimated $2.42M increase.
- PenderFund Capital Management's biggest Q4 2019 reduction was Baidu, cutting an estimated $6.01M.
- PenderFund Capital Management fully exited Carbonite Inc in Q4 2019, selling an estimated $12.3M.
- PenderFund Capital Management's ten largest holdings make up 47% of its $356M portfolio in Q4 2019.
- PenderFund Capital Management opened 6 new positions and closed 13 in Q4 2019.
- PenderFund Capital Management's portfolio value rose 20% quarter-over-quarter to $356M.
Based on PenderFund Capital Management's 13F filing for Q4 2019, filed 5 Feb 2020.