PM
Penbrook Management LLC — 13F Portfolio Analysis & Stock Picks (Q3 2026)
Penbrook Management LLCCIK: 0001381055
Diversified strategyMomentum followerQuality / disciplined sizing
Total reported value
$169.5M
Reporting period: 2026-09-30 · Number of holdings: 102
Penbrook Management LLC disclosed 102 holdings in its latest 13F filing for the period ending 2026-09-30, with total reported value of $169.5M and a quarterly turnover rate of 28.7%.
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Personality snowflake
- Concentration
- 14.84
- Portfolio Stability
- 28.69
- Momentum
- 100
- Sector conviction
- 49.77
- Diversification
- 100
- Sizing Uniformity
- 83.23
Penbrook Management LLC's disclosed holdings carry a Herfindahl concentration index of 0.037 — mathematically equivalent to about 27 equally-sized positions, well below its 102 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.68), with a handful of outsized bets alongside many smaller positions.
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 66% 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.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govAdd TRGP
-4.0% $16.0M
Trim NVO
-1.5% -$3.3M
Add MSFT
-0.9% $3.0M
Add SKYH
+909.7% $1.7M
Trim PL
-0.5% -$1.4M
Trim ELVA
+16.4% -$942.0K
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | TRGP | Targa Resources CORP | Stock-Energy | 10.55% | +9.37% | -3.99% | |
| 2 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 7.61% | -0.26% | — | |
| 3 | NVO | Novo-nordisk A/s-spons Adr | Stock-Healthcare | 6.97% | -2.70% | -1.49% | |
| 4 | MSFT | Microsoft CORP | Stock-Tech | 6.57% | +1.35% | -0.91% | |
| 5 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 4.70% | -0.58% | — | |
| 6 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 4.51% | -0.57% | -0.44% | |
| 7 | MCO | Moody's CORP | Stock-Financials | 3.64% | -0.29% | — | |
| 8 | CYRX | Cryoport Inc | Stock-Other | 2.06% | +0.03% | -0.78% | |
| 9 | ALLT | Allot Ltd. | Stock-Other | 1.88% | +0.33% | +37.09% | |
| 10 | ✓ | Stock-Other | 1.85% | +0.03% | -0.16% | ||
| 11 | PLAB | Photronics Inc | Stock-Other | 1.61% | -0.24% | -0.22% | |
| 12 | MGNI | Magnite Inc | Stock-Other | 1.58% | +0.22% | -5.67% | |
| 13 | MRVL | Marvell Technology Inc | Stock-Tech | 1.52% | -0.33% | — | |
| 14 | VMD | Viemed Healthcare Inc | Stock-Other | 1.48% | -0.54% | -0.44% | |
| 15 | ELVA | Electrovaya Inc | Stock-Other | 1.47% | -0.72% | +16.36% | |
| 16 | TRI | Thomson Reuters CORP | Stock-Industrials | 1.40% | +0.13% | — | |
| 17 | PRTA | Prothena Corporation plc | Stock-Other | 1.34% | -0.36% | — | |
| 18 | VET | Vermilion Energy Inc | Stock-Other | 1.33% | +0.15% | — | |
| 19 | BX | Blackstone Inc | Stock-Financials | 1.20% | -0.16% | — | |
| 20 | CSCO | Cisco Systems Inc | Stock-Tech | 1.17% | -0.20% | — | |
| 21 | ALKT | Alkami Technology Inc | Stock-Other | 1.11% | -0.51% | -1.83% | |
| 22 | SKYH | Sky Harbour Group CORP | Stock-Other | 1.10% | +0.98% | +909.73% | |
| 23 | BTE | Baytex Energy CORP | Stock-Other | 1.07% | +0.05% | — | |
| 24 | EXTR | Extreme Networks Inc | Stock-Other | 1.06% | -0.67% | — | |
| 25 | NNY | Nuveen New York Muni Val | Stock-Other | 0.98% | -0.21% | — | |
| 26 | SONY | Sony Group CORP - Sp Adr | Stock-Tech | 0.96% | +0.08% | +1.46% | |
| 27 | ADP | Automatic Data Processing | Stock-Tech | 0.96% | +0.06% | — | |
| 28 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 0.95% | -0.10% | -1.52% | |
| 29 | ET | Energy Transfer LP | Stock-Energy | 0.87% | -0.04% | -0.26% | |
| 30 | BLFS | Biolife Solutions Inc | Stock-Other | 0.85% | +0.13% | -7.08% | |
| 31 | ABNB | Airbnb Inc-class A | Stock-Consumer Disc | 0.83% | +0.01% | -2.23% | |
| 32 | VZ | Verizon Communications Inc | Stock-Comm Services | 0.82% | — | — | |
| 33 | ACLS | Axcelis Technologies Inc | Stock-Tech | 0.81% | -0.51% | -3.67% | |
| 34 | ABBV | Abbvie Inc | Stock-Healthcare | 0.81% | -0.02% | +1.94% | |
| 35 | PL | Planet Labs Pbc | Stock-Industrials | 0.79% | -0.94% | -0.49% | |
| 36 | CVE | Cenovus Energy Inc | Stock-Energy | 0.78% | +0.31% | +42.91% | |
| 37 | WMB | Williams Cos Inc | Stock-Energy | 0.77% | -0.14% | -0.26% | |
| 38 | MESO | Mesoblast Ltd- Spon Adr | Stock-Other | 0.75% | — | — | |
| 39 | META | Meta Platforms Inc-class A | Stock-Comm Services | 0.73% | +0.12% | — | |
| 40 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 0.72% | -0.04% | — | |
| 41 | NVDA | Nvidia CORP | Stock-Tech | 0.71% | +0.03% | -0.85% | |
| 42 | CURI | Curiositystream Inc | Stock-Other | 0.67% | -0.63% | -49.20% | |
| 43 | HESM | Hess Midstream LP - Class A | Stock-Other | 0.66% | -0.06% | -0.17% | |
| 44 | DAIO | Data I/o CORP | Stock-Other | 0.62% | -0.27% | — | |
| 45 | USAC | USA Compression Partners LP | Stock-Other | 0.60% | -0.09% | — | |
| 46 | ✓ | Stock-Other | 0.57% | +0.57% | NEW | ||
| 47 | SHEL | Shell Plc-adr | Stock-Energy | 0.53% | +0.07% | — | |
| 48 | PAR | Par Technology Corp/del | Stock-Other | 0.52% | -0.08% | +18.49% | |
| 49 | BPOP | Popular Inc | Stock-Financials | 0.49% | -0.07% | — | |
| 50 | EMR | Emerson Electric Co | Stock-Industrials | 0.48% | — | — |
1–50 of 102
* This report is exclusively curated by the AlphaSMO team. AlphaSMO is the web's most authoritative 13F / Inside Trader database, delivering precise insider trading and institutional holdings insights.
Portfolio Performance
Performance for Q4 2026
-2.9%
Performance Last 4 Quarters
+20.1%
- Stdev
- +18.2%
- Beta
- +1.25
- Alpha
- -11.3%
- Max Drawdown
- -17.3%
- Annualized Perf
- +16.1%
- Batting Avg vs S&P
- +33.3%
- Sortino
- +1.81
- Stutzer
- +0.27
- Treynor
- +0.13
- Sterling
- +0.8
- Calmar
- +0.93
- Information Ratio
- -0.56
- Tracking Error
- +10.3%
- Stdev Down
- +9.1%
- Winning Months %
- +58.3%
- Losing Months %
- +41.7%
- Best 12 Months
- +44.1%
- Worst 12 Months
- -11%
- Efficiency Ratio
- +0.39
- Sharpe
- +0.91
- Stdev Sectors
- +7.8%
- Skewness
- +0.85
- Kurtosis
- +2.86
- Upside Potential
- +3.54
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q3 | 102 | $169.5M | 29 | ||
| 2026 Q2 | 101 | $156.8M | 33 | ||
| 2026 Q1 | 93 | $132.1M | 29 | ||
| 2025 Q4 | 97 | $145.0M | 16 | ||
| 2025 Q3 | 104 | $143.2M | 37 | ||
| 2025 Q2 | 102 | $133.0M | 0 | ||
| 2025 Q1 | 107 | $132.3M | 100 | ||
| 2024 Q4 | 110 | $146.6M | 0 | ||
| 2024 Q3 | 106 | $153.8M | 0 | ||
| 2024 Q2 | 101 | $163.8M | 0 | ||
| 2024 Q1 | 102 | $161.3M | 0 | ||
| 2023 Q4 | 103 | $148.8M | 0 | ||
| 2023 Q3 | 100 | $136.5M | 0 | ||
| 2023 Q2 | 100 | $138.0M | 0 | ||
| 2023 Q1 | 95 | $130.5M | 0 | ||
| 2022 Q4 | 95 | $117.3M | 0 | ||
| 2022 Q3 | 99 | $116.2M | 0 | ||
| 2022 Q2 | 106 | $126.8M | 0 | ||
| 2022 Q1 | 109 | $154.1M | 0 | ||
| 2021 Q4 | 102 | $166.0M | 0 | ||
| 2021 Q3 | 102 | $160.9M | 0 | ||
| 2021 Q2 | 104 | $166.8M | 91 | ||
| 2021 Q1 | 102 | $139.0M | 30 | ||
| 2020 Q4 | 97 | $129.8M | 0 | ||
| 2020 Q3 | 101 | $115.4M | 20 | ||
| 2020 Q2 | 131 | $101.7M | 31 | ||
| 2020 Q1 | 130 | $78.1M | 32 | ||
| 2019 Q4 | 131 | $102.6M | 20 | ||
| 2019 Q3 | 126 | $92.2M | 15 | ||
| 2019 Q2 | 127 | $93.2M | 25 | ||
| 2019 Q1 | 131 | $96.2M | 21 | ||
| 2018 Q4 | 128 | $87.6M | 27 | ||
| 2018 Q3 | 129 | $104.4M | 22 | ||
| 2018 Q2 | 127 | $104.0M | 18 | ||
| 2018 Q1 | 124 | $100.0M | 20 | ||
| 2017 Q4 | 124 | $111.1M | 50 | ||
| 2016 Q3 | 130 | $92.8M | 22 | ||
| 2016 Q2 | 132 | $90.7M | 22 | ||
| 2016 Q1 | 132 | $90.8M | 23 | ||
| 2015 Q4 | 144 | $97.5M | 26 | ||
| 2015 Q3 | 144 | $94.4M | 36 | ||
| 2015 Q2 | 136 | $105.3M | 21 | ||
| 2015 Q1 | 146 | $112.6M | 27 | ||
| 2014 Q4 | 146 | $110.9M | 19 | ||
| 2014 Q3 | 154 | $108.5M | 21 | ||
| 2014 Q2 | 150 | $113.2M | 30 | ||
| 2014 Q1 | 136 | $105.8M | 26 | ||
| 2013 Q4 | 140 | $103.1M | 0 |
Holding changes this quarter
Penbrook Management LLC's most significant position changes for 2026-09-30: Sold out: Doubleverify Holdings Inc (DV); Sold out: Oneok Inc (OKE); New buy: ; New buy: Lockheed Martin CORP (LMT); Sold out: Antero Midstream CORP (AM).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | TRGP | Targa Resources CORP | +9.4% | -3.99% | Trim |
| 2 | MSFT | Microsoft CORP | +1.4% | -0.91% | Trim |
| 3 | SKYH | Sky Harbour Group CORP | +1% | +909.73% | Add |
| 4 | ✓ | +0.6% | NEW | New buy | |
| 5 | ALLT | Allot Ltd. | +0.3% | +37.09% | Add |
| 6 | CVE | Cenovus Energy Inc | +0.3% | +42.91% | Add |
| 7 | MGNI | Magnite Inc | +0.2% | -5.67% | Trim |
| 8 | IOVA | Iovance Biotherapeutics Inc | +0.2% | -33.50% | Trim |
| 9 | LMT | Lockheed Martin CORP | +0.2% | NEW | New buy |
| 10 | VET | Vermilion Energy Inc | +0.2% | — | Unchanged |
| 11 | AMPL | Amplitude Inc-class A | +0.2% | -1.54% | Trim |
| 12 | TRI | Thomson Reuters CORP | +0.1% | — | Unchanged |
| 13 | BLFS | Biolife Solutions Inc | +0.1% | -7.08% | Trim |
| 14 | META | Meta Platforms Inc-class A | +0.1% | — | Unchanged |
| 15 | ✓ | +0.1% | NEW | New buy | |
| 16 | NEM | Newmont CORP | +0.1% | NEW | New buy |
| 17 | SONY | Sony Group CORP - Sp Adr | +0.1% | +1.46% | Add |
| 18 | SHEL | Shell Plc-adr | +0.1% | — | Unchanged |
| 19 | ADP | Automatic Data Processing | +0.1% | — | Unchanged |
| 20 | BTE | Baytex Energy CORP | +0.1% | — | Unchanged |
| 21 | TTI | Tetra Technologies Inc | +0.1% | +165.65% | Add |
| 22 | XGN | Exagen Inc | +0.1% | NEW | New buy |
| 23 | REGN | Regeneron Pharmaceuticals | 0% | — | Unchanged |
| 24 | CYRX | Cryoport Inc | 0% | -0.78% | Trim |
| 25 | ✓ | 0% | -0.16% | Trim | |
| 26 | NVDA | Nvidia CORP | 0% | -0.85% | Trim |
| 27 | BAER | Bridger Aerospace Group Hold | 0% | NEW | New buy |
| 28 | AAPL | Apple Inc | 0% | — | Unchanged |
| 29 | CVX | Chevron CORP | 0% | — | Unchanged |
| 30 | COP | Conocophillips | 0% | — | Unchanged |
| 31 | ABNB | Airbnb Inc-class A | 0% | -2.23% | Trim |
| 32 | PAYS | Paysign Inc | 0% | -31.22% | Trim |
| 33 | DMLP | Dorchester Minerals LP | 0% | — | Unchanged |
| 34 | MRK | Merck & Co. Inc. | 0% | — | Unchanged |
| 35 | VZ | Verizon Communications Inc | — | — | Unchanged |
| 36 | MESO | Mesoblast Ltd- Spon Adr | — | — | Unchanged |
| 37 | EMR | Emerson Electric Co | — | — | Unchanged |
| 38 | HTGC | Hercules Capital Inc | — | +1.36% | Add |
| 39 | BMY | Bristol-myers Squibb Co | — | — | Unchanged |
| 40 | AQST | Aquestive Therapeutics Inc | — | -4.50% | Trim |
| 41 | DX | Dynex Capital Inc | 0% | — | Unchanged |
| 42 | AEHR | Aehr Test Systems | 0% | — | Unchanged |
| 43 | PROF | Profound Medical CORP | 0% | -5.80% | Trim |
| 44 | SPYM | Ste Str Spdr Pt S&p 500 ETF | 0% | — | Unchanged |
| 45 | WLY | Wiley (john) & Sons-class A | 0% | — | Unchanged |
| 46 | JPM | Jpmorgan Chase & Co | 0% | — | Unchanged |
| 47 | JEPI | Jpmorgan Equity Premium Inco | 0% | — | Unchanged |
| 48 | ABBV | Abbvie Inc | 0% | +1.94% | Add |
| 49 | SGOL | Abrdn Physical Gold Shares | 0% | — | Unchanged |
| 50 | NUV | Nuveen Municipal Value | 0% | — | Unchanged |
1–50 of 107
Filing History
FAQ
What is Penbrook Management LLC and what type of investor is it?
Penbrook Management LLC is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-09-30), the firm manages a tracked equity portfolio valued at approximately $169.5M, spread across 102 disclosed positions.
What are Penbrook Management LLC's largest equity positions?
Based on the latest 13F filing, Penbrook Management LLC's top holdings by market value are:
1. Targa Resources CORP (TRGP) — $17.9M (10.6%)
2. Amazon.com Inc (AMZN) — $12.9M (7.6%)
3. Novo-nordisk A/s-spons Adr (NVO) — $11.8M (7.0%)
4. Microsoft CORP (MSFT) — $11.1M (6.6%)
5. Alphabet Inc-cl A (GOOGL) — $8.0M (4.7%)
What changes did Penbrook Management LLC make in its most recent portfolio filing?
In the latest reported quarter, Penbrook Management LLC made 57 notable position adjustments: 6 new positions were initiated, 12 existing holdings were added to, 34 positions were partially reduced, and 5 were completely exited. The largest of these moves: Sold out: Doubleverify Holdings Inc (DV); Sold out: Oneok Inc (OKE); New buy: ; New buy: Lockheed Martin CORP (LMT); Sold out: Antero Midstream CORP (AM)
What sectors does Penbrook Management LLC focus on?
Penbrook Management LLC is concentrated in the following sectors based on its current disclosed equity portfolio:
• Energy: 22.3%
• Information Technology: 21.2%
• Communication Services: 16.3%
• Health Care: 13.6%
• Consumer Discretionary: 12.7%
• Financials: 9.2%
Investment Profile
Penbrook Management LLC returned an annualized 16.1% over the trailing 36 months — underperforming the S&P 500 by 11.3 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 1.25 (more volatile than the market) and a 33% quarterly batting average against the index.
Its portfolio is broadly diversified and moderately active.
It has added to its TRGP position over the past two quarters (+$16.2M, now $17.9M), while trimming PL over the same stretch (-$1.6M, still holding $1.3M).
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Developer Access
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