CIK: 0001158202
Total reported value
$1.3B
Reporting period: 2026-03-31 · Number of holdings: 172
Penn Capital Management Company, LLC disclosed 172 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $1.3B and a quarterly turnover rate of 43.2%.
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Penn Capital Management Company, LLC's disclosed holdings carry a Herfindahl concentration index of 0.012 — mathematically equivalent to about 85 equally-sized positions, well below its 172 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 1.02), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 46% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Trim REAL
-84.6% -$19.2M
Add CSTM
+131.4% $13.9M
Trim SMWB
-77.3% -$11.0M
Add WTTR
+26.7% $10.2M
Add HLF
+1873.0% $9.7M
Trim ASTE
-95.7% -$8.4M
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | MIRM | Mirum Pharmaceuticals INC | Stock-Other | 1.84% | — | -8.92% | |
| 2 | CZR | Caesars Entertainment INC | Stock-Consumer Disc | 1.84% | +0.42% | +17.86% | |
| 3 | GPOR | Gulfport Energy CORP | Stock-Other | 1.83% | +0.22% | +15.09% | |
| 4 | WFRD | Weatherford International plc | Stock-Energy | 1.75% | — | -17.08% | |
| 5 | WTTR | Select Water Solutions INC | Stock-Other | 1.73% | +0.76% | +26.74% | |
| 6 | CC | Chemours Co/the | Stock-Materials | 1.68% | +0.38% | -29.24% | |
| 7 | BANC | Banc Of California INC | Stock-Other | 1.66% | — | +22.77% | |
| 8 | RIG | Transocean Ltd. | Stock-Energy | 1.62% | +0.38% | -16.05% | |
| 9 | CSTM | Constellium SE | Stock-Other | 1.61% | +1.06% | +131.37% | |
| 10 | DCOM | Dime Commercial Bancshares I | Stock-Other | 1.60% | +0.23% | +6.62% | |
| 11 | ABCB | Ameris Bancorp | Stock-Financials | 1.59% | — | -2.91% | |
| 12 | LGN | Legence Corp-cl A | Stock-Other | 1.56% | +1.56% | NEW | |
| 13 | RXO | Rxo INC | Stock-Other | 1.53% | +0.56% | +40.35% | |
| 14 | LGND | Ligand Pharmaceuticals | Stock-Healthcare | 1.48% | — | -3.43% | |
| 15 | LUMN | Lumen Technologies INC | Stock-Comm Services | 1.46% | — | +13.94% | |
| 16 | CALX | Calix INC | Stock-Tech | 1.44% | +0.37% | +49.58% | |
| 17 | SSRM | Ssr Mining INC | Stock-Materials | 1.41% | +1.41% | NEW | |
| 18 | AMTM | Amentum Holdings INC | Stock-Industrials | 1.41% | -0.31% | -6.67% | |
| 19 | GTES | Gates Industrial Corporation plc | Stock-Industrials | 1.40% | +0.28% | +22.18% | |
| 20 | TGTX | Tg Therapeutics INC | Stock-Healthcare | 1.40% | — | +0.71% | |
| 21 | CE | Celanese CORP | Stock-Materials | 1.38% | +1.38% | NEW | |
| 22 | OUST | Ouster INC | Stock-Other | 1.38% | — | +25.06% | |
| 23 | NMRK | Newmark Group Inc-class A | Stock-Other | 1.34% | — | +7.47% | |
| 24 | PENN | Penn Entertainment INC | Stock-Consumer Disc | 1.30% | +0.25% | +25.06% | |
| 25 | FBK | Fb Financial CORP | Stock-Other | 1.29% | — | +16.53% | |
| 26 | NOG | Northern Oil And Gas INC | Stock-Energy | 1.27% | +0.42% | +13.28% | |
| 27 | NXST | Nexstar Media Group INC | Stock-Comm Services | 1.26% | -0.42% | -13.17% | |
| 28 | SSP | Ew Scripps Co/the-a | Stock-Other | 1.26% | +0.22% | +32.77% | |
| 29 | MOD | Modine Manufacturing Co | Stock-Consumer Disc | 1.26% | — | -32.34% | |
| 30 | RSI | Rush Street Interactive INC | Stock-Other | 1.25% | — | +0.64% | |
| 31 | CHEF | Chefs' Warehouse Inc/the | Stock-Other | 1.24% | — | +1.74% | |
| 32 | SEI | Solaris Energy Infrastructur | Stock-Energy | 1.23% | — | -2.66% | |
| 33 | TCBI | Texas Capital Bancshares INC | Stock-Financials | 1.23% | — | -8.38% | |
| 34 | CRC | California Resources CORP | Stock-Energy | 1.23% | +0.29% | -13.09% | |
| 35 | GTN | Gray Media INC | Stock-Other | 1.22% | — | +14.88% | |
| 36 | ACMR | Acm Research Inc-class A | Stock-Other | 1.22% | — | -8.74% | |
| 37 | CPRI | Capri Holdings Limited | Stock-Consumer Disc | 1.21% | +0.42% | +118.89% | |
| 38 | RDNT | Radnet INC | Stock-Healthcare | 1.20% | -0.36% | +0.88% | |
| 39 | ATEC | Alphatec Holdings INC | Stock-Other | 1.18% | -0.62% | +30.18% | |
| 40 | GXO | Gxo Logistics INC | Stock-Industrials | 1.17% | — | -5.74% | |
| 41 | LTH | Life Time Group Holdings INC | Stock-Other | 1.17% | — | +8.83% | |
| 42 | DY | Dycom Industries INC | Stock-Industrials | 1.17% | — | -15.19% | |
| 43 | BPOP | Popular INC | Stock-Financials | 1.17% | — | -11.79% | |
| 44 | AAOI | Applied Optoelectronics INC | Stock-Tech | 1.16% | — | -60.44% | |
| 45 | AMRX | Amneal Pharmaceuticals INC | Stock-Other | 1.15% | — | +19.37% | |
| 46 | PRKS | United Parks & Resorts INC | Stock-Other | 1.15% | — | +9.38% | |
| 47 | KNSA | Kiniksa Pharmaceuticals International, plc | Stock-Other | 1.13% | +1.13% | NEW | |
| 48 | EZPW | Ezcorp Inc-cl A | Stock-Other | 1.13% | +0.36% | +15.40% | |
| 49 | LIND | Lindblad Expeditions Holding | Stock-Other | 1.12% | — | -11.67% | |
| 50 | HROW | Harrow INC | Stock-Other | 1.12% | -0.41% | +4.04% |
Performance for Q3 2026
+5.1%
Performance Last 4 Quarters
+36.5%
Based on 72% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 172 | $1.3B | 43 | |
| 2025-12-31 | 165 | $1.3B | 38 | |
| 2025-09-30 | 170 | $1.3B | 67 | |
| 2025-06-30 | 157 | $1.2B | 0 | |
| 2025-03-31 | 161 | $1.0B | 100 | |
| 2024-12-31 | 143 | $1.0B | 0 | |
| 2024-09-30 | 146 | $1.1B | 0 | |
| 2024-06-30 | 144 | $1.1B | 0 | |
| 2024-03-31 | 144 | $1.1B | 0 | |
| 2023-12-31 | 145 | $1.1B | 0 | |
| 2023-09-30 | 150 | $975.9M | 0 | |
| 2023-06-30 | 145 | $1.0B | 0 | |
| 2023-03-31 | 154 | $996.0M | 0 | |
| 2022-12-31 | 167 | $978.9M | 0 | |
| 2022-09-30 | 179 | $895.6M | 0 | |
| 2022-06-30 | 185 | $928.6M | 0 | |
| 2022-03-31 | 190 | $974.0M | 0 | |
| 2021-12-31 | 201 | $997.1M | 0 | |
| 2021-09-30 | 192 | $991.1M | 0 | |
| 2021-06-30 | 207 | $1.0B | 100 | |
| 2021-03-31 | 204 | $960.4M | 55 | |
| 2020-12-31 | 197 | $790.5M | 68 | |
| 2020-09-30 | 184 | $791.1M | 46 | |
| 2020-06-30 | 194 | $768.2M | 59 | |
| 2020-03-31 | 187 | $606.0M | 76 | |
| 2019-12-31 | 215 | $951.7M | 45 | |
| 2019-09-30 | 215 | $958.8M | 49 | |
| 2019-06-30 | 220 | $1.0B | 32 | |
| 2019-03-31 | 219 | $1.0B | 34 | |
| 2018-12-31 | 257 | $1.0B | 49 | |
| 2018-09-30 | 271 | $1.3B | 35 | |
| 2018-06-30 | 271 | $1.3B | 40 | |
| 2018-03-31 | 269 | $1.3B | 34 | |
| 2017-12-31 | 259 | $1.4B | 32 | |
| 2017-09-30 | 268 | $1.4B | 38 | |
| 2017-06-30 | 269 | $1.3B | 39 | |
| 2017-03-31 | 283 | $1.5B | 47 | |
| 2016-12-31 | 282 | $1.6B | 47 | |
| 2016-09-30 | 288 | $1.5B | 51 | |
| 2016-06-30 | 275 | $1.8B | 52 | |
| 2016-03-31 | 246 | $1.8B | 49 | |
| 2015-12-31 | 259 | $2.3B | 56 | |
| 2015-09-30 | 281 | $1.9B | 41 | 1742962258605Q358441K |
| 2015-06-30 | 289 | $2.4B | 35 | |
| 2015-03-31 | 292 | $2.5B | 37 | |
| 2014-12-31 | 293 | $2.4B | 44 | |
| 2014-09-30 | 282 | $2.4B | 38 | |
| 2014-06-30 | 266 | $2.6B | 35 | |
| 2014-03-31 | 301 | $2.6B | 37 | |
| 2013-12-31 | 300 | $2.8B | 50 | |
| 2013-09-30 | 294 | $2.4B | 48 | |
| 2013-06-30 | 318 | $2.4B | — |
Penn Capital Management Company, LLC's most significant position changes for 2026-03-31: New buy: Legence Corp-cl A (LGN); Sold out: Eldorado Gold CORP (EGO); New buy: Ssr Mining INC (SSRM); New buy: Celanese CORP (CE); Sold out: Extreme Networks INC (EXTR).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | CSTM | Constellium SE | +1.1% | +131.37% | Add |
| 2 | WTTR | Select Water Solutions INC | +0.8% | +26.74% | Add |
| 3 | HLF | Herbalife Ltd. | +0.8% | +1872.97% | Add |
| 4 | RXO | Rxo INC | +0.6% | +40.35% | Add |
| 5 | CZR | Caesars Entertainment INC | +0.4% | +17.86% | Add |
| 6 | NOG | Northern Oil And Gas INC | +0.4% | +13.28% | Add |
| 7 | CPRI | Capri Holdings Limited | +0.4% | +118.89% | Add |
| 8 | RIG | Transocean Ltd. | +0.4% | -16.05% | Trim |
| 9 | CC | Chemours Co/the | +0.4% | -29.24% | Trim |
| 10 | CALX | Calix INC | +0.4% | +49.58% | Add |
| 11 | EZPW | Ezcorp Inc-cl A | +0.4% | +15.40% | Add |
| 12 | CRC | California Resources CORP | +0.3% | -13.09% | Trim |
| 13 | GTES | Gates Industrial Corporation plc | +0.3% | +22.18% | Add |
| 14 | PENN | Penn Entertainment INC | +0.3% | +25.06% | Add |
| 15 | DCOM | Dime Commercial Bancshares I | +0.2% | +6.62% | Add |
| 16 | GPOR | Gulfport Energy CORP | +0.2% | +15.09% | Add |
| 17 | SSP | Ew Scripps Co/the-a | +0.2% | +32.77% | Add |
| 18 | STGW | Stagwell INC | +0.2% | -0.21% | Trim |
| 19 | ZETA | Zeta Global Holdings Corp-a | -0.3% | +1.17% | Add |
| 20 | AMTM | Amentum Holdings INC | -0.3% | -6.67% | Trim |
| 21 | SLNOEUR | Soleno Therapeutics INC | -0.3% | -2.54% | Trim |
| 22 | TATT | TAT Technologies Ltd. | -0.3% | -17.81% | Trim |
| 23 | RDNT | Radnet INC | -0.4% | +0.88% | Add |
| 24 | MRCY | Mercury Systems INC | -0.4% | -33.40% | Trim |
| 25 | HROW | Harrow INC | -0.4% | +4.04% | Add |
| 26 | NXST | Nexstar Media Group INC | -0.4% | -13.17% | Trim |
| 27 | FWRG | First Watch Restaurant Group | -0.4% | +0.85% | Add |
| 28 | ATEC | Alphatec Holdings INC | -0.6% | +30.18% | Add |
| 29 | ASTE | Astec Industries INC | -0.7% | -95.66% | Trim |
| 30 | SMWB | Similarweb Ltd. | -0.9% | -77.32% | Trim |
| 31 | REAL | Realreal Inc/the | -1.5% | -84.56% | Trim |
| 32 | LGN | Legence Corp-cl A | — | NEW | New buy |
| 33 | EGO | Eldorado Gold CORP | — | EXIT | Sold out |
| 34 | SSRM | Ssr Mining INC | — | NEW | New buy |
| 35 | CE | Celanese CORP | — | NEW | New buy |
| 36 | EXTR | Extreme Networks INC | — | EXIT | Sold out |
| 37 | KNF | Knife River CORP | — | EXIT | Sold out |
| 38 | KNSA | Kiniksa Pharmaceuticals International, plc | — | NEW | New buy |
| 39 | GENI | Genius Sports Limited | — | EXIT | Sold out |
| 40 | WERN | Werner Enterprises INC | — | NEW | New buy |
| 41 | TBBK | Bancorp Inc/the | — | EXIT | Sold out |
| 42 | NATL | Ncr Atleos CORP | — | EXIT | Sold out |
| 43 | HWC | Hancock Whitney CORP | — | NEW | New buy |
| 44 | MGNI | Magnite INC | — | EXIT | Sold out |
| 45 | BLLN | Billiontoone INC Cl A | — | NEW | New buy |
| 46 | WAY | Waystar Holding CORP | — | EXIT | Sold out |
| 47 | ARQT | Arcutis Biotherapeutics INC | — | NEW | New buy |
| 48 | FUL | H.b. Fuller Co. | — | EXIT | Sold out |
| 49 | TEX | Terex CORP | — | NEW | New buy |
| 50 | GCMG | Gcm Grosvenor INC - Class A | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-07 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-09 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-24 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-14 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-14 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-14 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-14 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-13 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-15 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-14 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-15 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-14 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-16 | Amendment | View on EDGAR |
| 2023-03-31 | 2023-05-12 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-14 | Amendment | View on EDGAR |
| 2022-12-31 | 2023-02-13 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-12-09 | Amendment | View on EDGAR |
| 2022-09-30 | 2022-11-14 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-15 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-17 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-17 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-11-15 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-08-16 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-05-13 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-02-16 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-11-16 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-08-14 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-05-13 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-02-12 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-11-13 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-08-23 | Amendment | View on EDGAR |
| 2019-06-30 | 2019-08-08 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-05-07 | Amendment | View on EDGAR |
| 2019-03-31 | 2019-05-06 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-02-19 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-11-19 | Amendment | View on EDGAR |
| 2018-09-30 | 2018-11-14 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-07-25 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-05-11 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-02-09 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-11-14 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-08-11 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-05-15 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-02-15 | Amendment | View on EDGAR |
| 2016-12-31 | 2017-02-14 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2016-11-21 | Amendment | View on EDGAR |
| 2016-09-30 | 2016-11-15 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-08-12 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2016-05-12 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-02-03 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2015-11-16 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2015-08-12 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2015-05-15 | 13F-HR | View on EDGAR |
| 2014-12-31 | 2015-02-12 | 13F-HR | View on EDGAR |
| 2014-09-30 | 2014-11-14 | 13F-HR | View on EDGAR |
| 2014-06-30 | 2014-08-12 | 13F-HR | View on EDGAR |
| 2014-03-31 | 2014-05-15 | 13F-HR | View on EDGAR |
| 2013-12-31 | 2014-02-13 | 13F-HR | View on EDGAR |
| 2013-09-30 | 2013-11-14 | 13F-HR | View on EDGAR |
| 2013-06-30 | 2013-08-16 | Amendment | View on EDGAR |
| 2013-06-30 | 2013-08-13 | 13F-HR | View on EDGAR |
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