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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
-13.59%
1 Year Est. Return
+31.05%
3 Year Est. Return
+130.01%
5 Year Est. Return
+118.66%
10 Year Est. Return
–
AUM
$320M
AUM Growth
-$35.9M
Cap. Flow
-$120M
Cap. Flow %
-37.36%
Top 10 Hldgs %
47.54%
Holding
69
New
13
Increased
11
Reduced
7
Closed
13

Top Buys

Rank Stock Value
1
Z icon
Zillow
Z
+$8.8M
2
EBIX
Ebix Inc
EBIX
+$8.69M
3
NVG icon
Nuveen AMT-Free Municipal Credit Income Fund
NVG
+$4.84M
4
BLW icon
BlackRock Limited Duration Income Trust
BLW
+$4.53M
5
NAD icon
Nuveen Quality Municipal Income Fund
NAD
+$4.33M

Top Sells

Rank Stock Value
1
MIDD icon
Middleby
MIDD
+$10.7M
2
WYNN icon
Wynn Resorts
WYNN
+$8M
3
DBRG icon
DigitalBridge
DBRG
+$5.27M
4
SSNC icon
SS&C Technologies
SSNC
+$4.63M
5
JD icon
JD.com
JD
+$4.58M

Sector Composition

Rank Sector Weight
1 Technology 16.57%
2 Communication Services 5.23%
3 Financials 4.54%
4 Consumer Discretionary 4.51%
5 Real Estate 4.26%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
KKR icon
1
KKR & Co
KKR
$89.2B
$12.4M 3.86%
374,040
-108,400
-22% -$3.11M
EGAN icon
2
eGain
EGAN
$176M
$12.3M 3.83%
1,190,701
+84,356
+8% +$655K
SSNC icon
3
SS&C Technologies
SSNC
$17.8B
$9.75M 3.04%
158,050
-81,800
-34% -$4.63M
Z icon
4
Zillow
Z
$7.04B
$9.66M 3.02%
+190,574
New +$8.8M
JD icon
5
JD.com
JD
$40.8B
$9.59M 2.99%
168,205
-114,600
-41% -$4.58M
MAXR
6
DELISTED
Maxar Technologies Inc. Common Stock
MAXR
$7.8M 2.43%
518,401
-242,600
-32% -$3.79M
HHH icon
7
Howard Hughes
HHH
$3.93B
$7.56M 2.36%
111,558
-6,918
-6% -$693K
EBIX
8
DELISTED
Ebix Inc
EBIX
$6.51M 2.03%
+304,936
New +$8.69M
NVG icon
9
Nuveen AMT-Free Municipal Credit Income Fund
NVG
$2.65B
$6.2M 1.93%
+300,000
New +$4.84M
NAD icon
10
Nuveen Quality Municipal Income Fund
NAD
$2.71B
$5.8M 1.81%
+300,000
New +$4.33M
NEA icon
11
Nuveen AMT-Free Quality Municipal Income Fund
NEA
$3.36B
$5.72M 1.78%
+300,000
New +$4.27M
MUI
12
DELISTED
BlackRock Municipal Income Fund, Inc.
MUI
$5.51M 1.72%
+300,000
New +$4.28M
BPY
13
DELISTED
Brookfield Property Partners L.P. Limited Partnership Units
BPY
$5.37M 1.68%
472,475
+18,600
+4% +$301K
BLW icon
14
BlackRock Limited Duration Income Trust
BLW
$491M
$5.33M 1.66%
+300,000
New +$4.53M
BB icon
15
BlackBerry
BB
$5.01B
$5.06M 1.58%
877,080
– –
LILA icon
16
Liberty Latin America Class A
LILA
$1.51B
$4.9M 1.53%
516,558
– –
ESI icon
17
Element Solutions
ESI
$9.12B
$4.72M 1.47%
401,233
– –
WIW
18
Western Asset Inflation-Linked Opportunities & Income Fund
WIW
$507M
$4.71M 1.47%
350,000
+200,000
+133% +$2.23M
HBI
19
DELISTED
Hanesbrands
HBI
$4.29M 1.34%
387,711
+38,300
+11% +$485K
CLDR
20
DELISTED
Cloudera, Inc.
CLDR
$3.23M 1.01%
291,900
– –
LEAF
21
DELISTED
Leaf Group Ltd.
LEAF
$2.77M 0.86%
1,466,723
+226,496
+18% +$616K
VVR icon
22
Invesco Senior Income Trust
VVR
$456M
$2.72M 0.85%
600,000
+300,000
+100% +$1.19M
FAX
23
abrdn Asia-Pacific Income Fund
FAX
$590M
$2.43M 0.76%
85,000
+16,667
+24% +$407K
VTA
24
DELISTED
INVESCO DYNAMIC CREDIT OPPORTUNITIES FUND
VTA
$2.25M 0.7%
+200,000
New +$2.11M
MSFT icon
25
Microsoft
MSFT
$2.84T
$2.24M 0.7%
+10,100
New +$1.66M
1
2 3

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SCP
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SFG
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PenderFund Capital Management's Q1 2020 Portfolio in Review

As of Q1 2020, PenderFund Capital Management held 69 positions worth $320M, down 10% from $356M the previous quarter. Its ten largest holdings account for 48% of the portfolio.

PenderFund Capital Management withdrew a net $120M in Q1 2020, closing 13 positions and reducing 7 holdings. Its most notable exit was Middleby, an estimated $10.7M position sold in full.

By sector, the portfolio is most concentrated in Technology at 17% of assets, down from 20% a quarter earlier, followed by Communication Services and Financials.

Against the trend, PenderFund Capital Management opened a new position in Zillow worth $9.66M.

  • PenderFund Capital Management's largest Q1 2020 buy was Zillow: 190,574 shares worth $9.66M.
  • PenderFund Capital Management added most to Western Asset Inflation-Linked Opportunities & Income Fund in Q1 2020, an estimated $2.23M increase.
  • PenderFund Capital Management's biggest Q1 2020 reduction was SS&C Technologies, cutting an estimated $4.63M.
  • PenderFund Capital Management fully exited Middleby in Q1 2020, selling an estimated $10.7M.
  • PenderFund Capital Management's ten largest holdings make up 48% of its $320M portfolio in Q1 2020.
  • PenderFund Capital Management opened 13 new positions and closed 13 in Q1 2020.
  • PenderFund Capital Management's portfolio value fell 10% quarter-over-quarter to $320M.

Based on PenderFund Capital Management's 13F filing for Q1 2020, filed 27 Apr 2020.