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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
+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
(+3.7%)
Cap. Flow
-$97.9M
Cap. Flow
% of AUM
-29.34%
Top 10 Holdings %
Top 10 Hldgs %
52.21%
Holding
162
New
52
Increased
11
Reduced
11
Closed
49
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Nuveen Quality Municipal Income Fund
NAD
|
+$9.25M |
| 2 |
Nuveen AMT-Free Quality Municipal Income Fund
NEA
|
+$8.93M |
| 3 |
Sprott Physical Gold and Silver Trust
CEF
|
+$3.63M |
| 4 |
Nuveen Municipal Credit Income Fund
NZF
|
+$1.21M |
| 5 |
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 |
RADI
Radius Global Infrastructure, Inc. Class A Common Stock
RADI
|
+$1.53M |
| 5 |
DSEY
Diversey Holdings, Ltd. Ordinary Shares
DSEY
|
+$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 | |
|---|---|---|---|---|---|---|
1
Burford Capital
BUR
$907M
| $16.1M | 4.83% |
846,905
-8,660
| -1% | -$118K |
|
2
PAR Technology
PAR
$637M
| $15.5M | 4.65% |
296,349
-8,330
| -3% | -$315K |
|
|
SANG
3
Sangoma Technologies
SANG
$138M
| $14.6M | 4.38% |
3,097,833
| – | – |
|
|
4
Nuveen Quality Municipal Income Fund
NAD
$2.71B
| $11.7M | 3.51% |
+850,000
| New | +$9.25M |
|
|
5
Nuveen AMT-Free Quality Municipal Income Fund
NEA
$3.36B
| $11.2M | 3.35% |
+850,000
| New | +$8.93M |
|
|
6
Nuveen Municipal Credit Income Fund
NZF
$2.4B
| $10.7M | 3.21% |
757,000
+107,000
| +16% | +$1.21M |
|
7
Forum Energy Technologies
FET
$654M
| $6.53M | 1.96% |
200,122
-50,635
| -20% | -$1.26M |
|
|
DCBO
8
Docebo
DCBO
$492M
| $6.49M | 1.94% |
117,820
| – | – |
|
9
KKR & Co
KKR
$89.2B
| $5.95M | 1.78% |
71,060
-4,960
| -7% | -$301K |
|
|
EDD
10
Morgan Stanley Emerging Markets Domestic Debt Fund
EDD
$372M
| $5.6M | 1.68% |
967,918
-6,900
| -0.7% | -$32.4K |
|
11
Aviat Networks
AVNW
$262M
| $5.49M | 1.64% |
129,524
| – | – |
|
12
Anterix
ATEX
$1.83B
| $5.35M | 1.6% |
125,620
-880
| -0.7% | -$27.7K |
|
13
Texas Pacific Land
TPL
$28.9B
| $4.72M | 1.42% |
17,163
| – | – |
|
|
14
Sprott Physical Gold and Silver Trust
CEF
$7.43B
| $4.71M | 1.41% |
+200,000
| New | +$3.63M |
|
|
WIW
15
Western Asset Inflation-Linked Opportunities & Income Fund
WIW
$507M
| $4.66M | 1.4% |
416,436
+117,625
| +39% | +$1.03M |
|
|
EMD
16
Western Asset Emerging Markets Debt Fund
EMD
$609M
| $4.59M | 1.38% |
407,300
-162,809
| -29% | -$1.44M |
|
17
Interactive Brokers
IBKR
$40.9B
| $4.44M | 1.33% |
151,032
-19,840
| -12% | -$441K |
|
18
Zillow
Z
$7.04B
| $4.38M | 1.31% |
69,847
-10,600
| -13% | -$545K |
|
19
Baidu
BIDU
$35.8B
| $4.37M | 1.31% |
23,930
-2,465
| -9% | -$346K |
|
20
SS&C Technologies
SSNC
$17.8B
| $3.13M | 0.94% |
43,810
| – | – |
|
21
eGain
EGAN
$176M
| $2.82M | 0.85% |
338,902
| – | – |
|
22
Peloton Interactive
PTON
$2.63B
| $2.31M | 0.69% |
337,090
| – | – |
|
23
JD.com
JD
$40.8B
| $2.24M | 0.67% |
56,665
| – | – |
|
|
FAX
24
abrdn Asia-Pacific Income Fund
FAX
$590M
| $2.15M | 0.64% |
107,478
-235,981
| -69% | -$3.76M |
|
|
PPLI
25
People Inc
PPLI
$3.1B
| $1.79M | 0.54% |
31,816
| – | – |
|
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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.