CIK: 0001759176
Total reported value
$361.0M
Reporting period: 2026-03-31 · Number of holdings: 17
Pennant Investors, LP disclosed 17 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $361.0M and a quarterly turnover rate of 34.7%.
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Pennant Investors, LP's disclosed holdings carry a Herfindahl concentration index of 0.078 — mathematically equivalent to about 13 equally-sized positions, close to its 17 actual disclosed holdings. Value is spread relatively evenly across the portfolio rather than concentrated in a handful of names.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.58), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
Recent activity leans toward adding more aggressively to already-large existing positions than to newly initiated ones (a 7.0 percentage-point tilt) — a pattern consistent with a momentum-following approach.
Trim ECHO
-48.8% -$35.7M
Add SOLS
-9.3% $14.4M
Add VRT
0.0% $9.7M
Trim GOOGL
-41.4% -$13.3M
Trim CORZ
-45.6% -$13.1M
Trim PRM
-21.4% -$9.9M
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | SOLS | Solstice Adv Materials INC | Stock-Materials | 13.40% | +5.26% | -9.29% | |
| 2 | ECHO | Echostar Corp-a | Stock-Comm Services | 12.17% | -6.89% | -48.77% | |
| 3 | MSFT | Microsoft CORP | Stock-Tech | 10.19% | +0.42% | +17.77% | |
| 4 | VRT | Vertiv Holdings Co-a | Stock-Industrials | 7.57% | +3.34% | — | |
| 5 | AMZN | Amazon.com INC | Stock-Consumer Disc | 6.75% | +0.07% | -3.31% | |
| 6 | PRM | Perimeter Solutions INC | Stock-Other | 6.35% | -1.51% | -21.35% | |
| 7 | EXE | Expand Energy CORP | Stock-Energy | 5.96% | +0.25% | -9.34% | |
| 8 | AR | Antero Resources CORP | Stock-Energy | 5.64% | +1.27% | -9.43% | |
| 9 | TDG | Transdigm Group INC | Stock-Industrials | 5.38% | -0.50% | -9.20% | |
| 10 | GEV | GE Vernova INC | Stock-Industrials | 4.96% | +1.43% | -9.29% | |
| 11 | CORZ | Core Scientific INC | Stock-Tech | 4.60% | -2.51% | -45.60% | |
| 12 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 4.29% | -2.60% | -41.41% | |
| 13 | CCC | Ccc Intelligent Solutions Ho | Stock-Tech | 4.02% | -1.06% | -9.41% | |
| 14 | VMI | Valmont Industries | Stock-Industrials | 3.32% | +0.13% | -9.42% | |
| 15 | FLS | Flowserve CORP | Stock-Industrials | 2.75% | +2.75% | NEW | |
| 16 | QXO | Qxo INC | Stock-Industrials | 2.65% | +0.14% | -9.39% | |
| 17 | GRAB | Grab Holdings Limited | Stock-Tech | — | -0.01% | — |
Performance for Q3 2026
-10.6%
Performance Last 4 Quarters
+45.6%
Based on 81% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 17 | $361.0M | 35 | |
| 2025-12-31 | 17 | $417.9M | 21 | |
| 2025-09-30 | 15 | $371.7M | 52 | |
| 2025-06-30 | 16 | $334.3M | 0 | |
| 2025-03-31 | 19 | $383.2M | 100 | |
| 2024-12-31 | 16 | $354.3M | 0 | |
| 2024-09-30 | 16 | $350.3M | 0 | |
| 2024-06-30 | 46 | $382.6M | 0 | |
| 2024-03-31 | 45 | $403.7M | 0 | |
| 2023-12-31 | 46 | $458.1M | 0 | |
| 2023-09-30 | 13 | $276.8M | 0 | |
| 2023-06-30 | 18 | $299.7M | 0 | |
| 2023-03-31 | 18 | $247.3M | 0 | |
| 2022-12-31 | 16 | $199.7M | 0 | |
| 2022-09-30 | 17 | $174.8M | 0 | |
| 2022-06-30 | 17 | $231.6M | 0 | |
| 2022-03-31 | 19 | $265.3M | 0 | |
| 2021-12-31 | 20 | $294.2M | 0 | |
| 2021-09-30 | 21 | $352.2M | 0 | |
| 2021-06-30 | 21 | $421.0M | 93 | |
| 2021-03-31 | 21 | $362.5M | 44 | |
| 2020-12-31 | 17 | $311.0M | 43 | |
| 2020-09-30 | 20 | $275.3M | 43 | |
| 2020-06-30 | 20 | $236.8M | 55 | |
| 2020-03-31 | 21 | $277.8M | 70 | |
| 2019-12-31 | 18 | $279.6M | 35 | |
| 2019-09-30 | 21 | $283.9M | 61 | |
| 2019-06-30 | 15 | $226.7M | 44 | |
| 2019-03-31 | 17 | $246.4M | 55 | |
| 2018-12-31 | 16 | $240.7M | 68 | |
| 2018-09-30 | 17 | $268.0M | 0 |
Pennant Investors, LP's most significant position changes for 2026-03-31: New buy: Flowserve CORP (FLS); Trim: Echostar Corp-a (ECHO) — shares -48.77%; Trim: Solstice Adv Materials INC (SOLS) — shares -9.29%; Trim: Alphabet Inc-cl A (GOOGL) — shares -41.41%; Trim: Core Scientific INC (CORZ) — shares -45.60%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | SOLS | Solstice Adv Materials INC | +5.3% | -9.29% | Trim |
| 2 | VRT | Vertiv Holdings Co-a | +3.3% | — | Unchanged |
| 3 | GEV | GE Vernova INC | +1.4% | -9.29% | Trim |
| 4 | AR | Antero Resources CORP | +1.3% | -9.43% | Trim |
| 5 | MSFT | Microsoft CORP | +0.4% | +17.77% | Add |
| 6 | EXE | Expand Energy CORP | +0.3% | -9.34% | Trim |
| 7 | QXO | Qxo INC | +0.1% | -9.39% | Trim |
| 8 | VMI | Valmont Industries | +0.1% | -9.42% | Trim |
| 9 | AMZN | Amazon.com INC | +0.1% | -3.31% | Trim |
| 10 | GRAB | Grab Holdings Limited | 0% | — | Unchanged |
| 11 | TDG | Transdigm Group INC | -0.5% | -9.20% | Trim |
| 12 | CCC | Ccc Intelligent Solutions Ho | -1.1% | -9.41% | Trim |
| 13 | PRM | Perimeter Solutions INC | -1.5% | -21.35% | Trim |
| 14 | CORZ | Core Scientific INC | -2.5% | -45.60% | Trim |
| 15 | GOOGL | Alphabet Inc-cl A | -2.6% | -41.41% | Trim |
| 16 | ECHO | Echostar Corp-a | -6.9% | -48.77% | Trim |
| 17 | FLS | Flowserve CORP | — | NEW | New buy |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-15 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-17 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-14 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-14 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-15 | 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 | 2024-08-14 | 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 | 2023-11-14 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-14 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-15 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-14 | 13F-HR | 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 | 2022-05-16 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-14 | 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 | 2021-05-17 | 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 | 2020-05-15 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-02-14 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-11-14 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-08-14 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-05-14 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-02-14 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-11-15 | 13F-HR | View on EDGAR |
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