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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
PAR icon
1
PAR Technology
PAR
$637M
$16.8M 5.48%
291,539
-4,810
-2% -$181K
BUR icon
2
Burford Capital
BUR
$907M
$16.7M 5.46%
810,005
-36,900
-4% -$493K
SANG
3
Sangoma Technologies
SANG
$138M
$14M 4.57%
3,308,133
+210,300
+7% +$633K
NEA icon
4
Nuveen AMT-Free Quality Municipal Income Fund
NEA
$3.36B
$13.3M 4.32%
909,800
+59,800
+7% +$610K
NAD icon
5
Nuveen Quality Municipal Income Fund
NAD
$2.71B
$12.9M 4.2%
850,000
– –
NZF icon
6
Nuveen Municipal Credit Income Fund
NZF
$2.4B
$11.9M 3.86%
757,000
– –
NVG icon
7
Nuveen AMT-Free Municipal Credit Income Fund
NVG
$2.65B
$7.97M 2.6%
508,872
+408,872
+409% +$4.44M
DCBO
8
Docebo
DCBO
$492M
$7.54M 2.46%
117,820
– –
KKR icon
9
KKR & Co
KKR
$89.2B
$6.26M 2.04%
57,020
-14,040
-20% -$951K
EDD
10
Morgan Stanley Emerging Markets Domestic Debt Fund
EDD
$372M
$6.1M 1.99%
987,746
+19,828
+2% +$90.2K
FET icon
11
Forum Energy Technologies
FET
$654M
$5.85M 1.91%
199,122
-1,000
-0.5% -$22.4K
AVNW icon
12
Aviat Networks
AVNW
$262M
$5.61M 1.83%
129,524
– –
Z icon
13
Zillow
Z
$7.04B
$5.36M 1.75%
69,847
– –
EMD
14
Western Asset Emerging Markets Debt Fund
EMD
$609M
$5.12M 1.67%
419,136
+11,836
+3% +$101K
WIW
15
Western Asset Inflation-Linked Opportunities & Income Fund
WIW
$507M
$4.84M 1.58%
421,676
+5,240
+1% +$44.1K
IBKR icon
16
Interactive Brokers
IBKR
$40.9B
$4.19M 1.37%
152,552
+1,520
+1% +$31.1K
TPL icon
17
Texas Pacific Land
TPL
$28.9B
$3.97M 1.3%
17,163
– –
SSNC icon
18
SS&C Technologies
SSNC
$17.8B
$3.7M 1.21%
45,740
+1,930
+4% +$105K
PTON icon
19
Peloton Interactive
PTON
$2.63B
$2.72M 0.89%
337,090
– –
EGAN icon
20
eGain
EGAN
$176M
$2.56M 0.83%
231,617
-107,285
-32% -$754K
BN icon
21
Brookfield
BN
$102B
$1.27M 0.41%
35,910
-25,125
-41% -$570K
AEL
22
DELISTED
American Equity Investment Life Holding Company
AEL
$1.19M 0.39%
16,160
– –
NWLI
23
DELISTED
National Western Life Group, Inc. Class A
NWLI
$1.15M 0.38%
+1,800
New +$856K
KW
24
DELISTED
Kennedy-Wilson Holdings
KW
$1.15M 0.37%
69,860
+28,710
+70% +$360K
NGMS
25
DELISTED
NeoGames S.A. Ordinary Shares
NGMS
$1.14M 0.37%
30,110
– –
1
2 3 4 5

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SFG
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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.