# Pension Partners, LLC

> Institutional holdings reported to the SEC as of Q3 2019 on Form 13F. CIK 1536340. Source: https://holderbook.com/funds/1536340-pension-partners-llc/

- Reported value: $72.6M
- Positions: 18
- Weight of the ten largest: 98.0%
- Filed: 2019-11-07

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| ISHARES INC | [IEMG](https://holderbook.com/stocks/IEMG/) | $27.0M | 550,222 | 37.1% | 3 |
| SPDR INDEX SHS FDS | [SPEM](https://holderbook.com/stocks/SPEM/) | $16.9M | 492,857 | 23.3% | 3 |
| SCHWAB STRATEGIC TR | [SCHE](https://holderbook.com/stocks/SCHE/) | $14.0M | 556,705 | 19.3% | 3 |
| DIREXION SHARES ETF TRUST | [EDC](https://holderbook.com/stocks/EDC/) | $9.8M | 151,017 | 13.5% | 3 |
| PROSHARES TR | [EET](https://holderbook.com/stocks/EET/) | $1.6M | 24,569 | 2.2% | 3 |
| WASHINGTON PRIME GROUP NEW | [WPG](https://holderbook.com/stocks/WPG/) | $465.0K | 112,302 | 0.6% | 2 |
| MACQUARIE INFRASTRUCTURE COR | [MIC](https://holderbook.com/stocks/MIC/) | $398.0K | 10,077 | 0.5% | 2 |
| OSI ETF TR | [OUSAXXXX](https://holderbook.com/stocks/OUSAXXXX/) | $352.0K | 10,123 | 0.5% | 3 |
| SPDR SERIES TRUST | [KIE](https://holderbook.com/stocks/KIE/) | $340.0K | 9,654 | 0.5% | 3 |
| ANNALY CAPITAL MANAGEMENT IN | [NLYXXXX](https://holderbook.com/stocks/NLYXXXX/) | $339.0K | 38,501 | 0.5% | 1 |
| KIRKLAND LAKE GOLD LTD | [KL](https://holderbook.com/stocks/KL/) | $318.0K | 7,104 | 0.4% | 2 |
| VANECK ETF TRUST | [BIZD](https://holderbook.com/stocks/BIZD/) | $307.0K | 18,194 | 0.4% | 2 |
| KKR & CO INC | [KKR](https://holderbook.com/stocks/KKR/) | $243.0K | 9,038 | 0.3% | 2 |
| BARRICK GOLD CORP | [GOLD](https://holderbook.com/stocks/GOLD/) | $236.0K | 13,614 | 0.3% | 1 |
| COHEN & STEERS MLP INC & ENR | [MIE](https://holderbook.com/stocks/MIE/) | $139.0K | 15,390 | 0.2% | 2 |
| SACHEM CAP CORP | [SACH](https://holderbook.com/stocks/SACH/) | $114.0K | 24,241 | 0.2% | 2 |
| WHITECAP RESOURCES INC | [WCPRF](https://holderbook.com/stocks/WCPRF/) | $57.0K | 16,500 | 0.1% | 1 |
| GLOBAL SELF STORAGE INC | [SELF](https://holderbook.com/stocks/SELF/) | $52.0K | 11,000 | 0.1% | 2 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q3 2019 | -6.4% | +1.3% | -7.6% | 98% |
| Q1 2019 | +12.7% | +13.0% | -0.3% | 98% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q3 2019 | $72.6M | 18 |
| Q2 2019 | $82.5M | 22 |
| Q4 2018 | $86.8M | 13 |