PI
Pennant Investors, LP 13F Disclosure (Q2 2026) — Portfolio & Holdings
Pennant Investors, LPCIK: 0001759176
Momentum followerQuality / disciplined sizing
Total reported value
$334.9M
Reporting period: 2026-06-30 · Number of holdings: 16
Pennant Investors, LP disclosed 16 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $334.9M and a quarterly turnover rate of 33.3%.
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Personality snowflake
- Concentration
- 31.63
- Portfolio Stability
- 33.27
- Momentum
- 100
- Sector conviction
- 60.53
- Diversification
- 32
- Sizing Uniformity
- 94.68
Pennant Investors, LP's disclosed holdings carry a Herfindahl concentration index of 0.079 — mathematically equivalent to about 13 equally-sized positions, close to its 16 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 0.53), 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 2.8 percentage-point tilt) — a pattern consistent with a momentum-following approach.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govAdd AMZN
+38.5% $14.2M
Sold out CORZ
Sold out CCC
Trim ECHO
-27.6% -$16.4M
New buy G9600F104
Trim VRT
-50.5% -$9.2M
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 | SOLS | Solstice Adv Materials Inc | Stock-Materials | 12.64% | -0.76% | -24.72% | |
| 2 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 11.53% | +4.78% | +38.46% | |
| 3 | MSFT | Microsoft CORP | Stock-Tech | 11.14% | +0.95% | +0.60% | |
| 4 | ECHO | Echostar Corp-a | Stock-Comm Services | 8.24% | -3.93% | -27.58% | |
| 5 | PRM | Perimeter Solutions Inc | Stock-Other | 7.33% | +0.98% | -26.57% | |
| 6 | TDG | Transdigm Group Inc | Stock-Industrials | 6.67% | +1.29% | — | |
| 7 | GEV | GE Vernova Inc | Stock-Industrials | 5.44% | +0.48% | -24.39% | |
| 8 | VRT | Vertiv Holdings Co-a | Stock-Industrials | 5.40% | -2.17% | -50.46% | |
| 9 | EXE | Expand Energy CORP | Stock-Energy | 5.34% | -0.62% | — | |
| 10 | VMI | Valmont Industries | Stock-Industrials | 5.17% | +1.85% | — | |
| 11 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 5.11% | +0.82% | -11.13% | |
| 12 | AR | Antero Resources CORP | Stock-Energy | 5.04% | -0.60% | — | |
| 13 | FLS | Flowserve CORP | Stock-Industrials | 4.65% | +1.90% | +55.56% | |
| 14 | ✓ | Versigent LTD | Stock-Other | 3.77% | +3.77% | NEW | |
| 15 | QXO | Qxo Inc | Stock-Industrials | 2.54% | -0.11% | — | |
| 16 | GRAB | Grab Holdings Limited | Stock-Tech | — | — | — |
Portfolio Performance
Performance for Q3 2026
-9.6%
Performance Last 4 Quarters
+28.4%
- Stdev
- +20.3%
- Beta
- +1.13
- Alpha
- +11.6%
- Max Drawdown
- -13.9%
- Annualized Perf
- +37.5%
- Batting Avg vs S&P
- +58.3%
- Sortino
- +3.83
- Stutzer
- +0.5
- Treynor
- +0.3
- Sterling
- +1.92
- Calmar
- +2.69
- Information Ratio
- +1.01
- Tracking Error
- +14.1%
- Stdev Down
- +8.9%
- Winning Months %
- +66.7%
- Losing Months %
- +33.3%
- Best 12 Months
- +104.2%
- Worst 12 Months
- +9.2%
- Efficiency Ratio
- +0.85
- Sharpe
- +1.69
- Stdev Sectors
- +7.7%
- Skewness
- +0.04
- Kurtosis
- -0.41
- Upside Potential
- +5.42
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 16 | $334.9M | 33 | ||
| 2026 Q1 | 17 | $361.0M | 35 | ||
| 2025 Q4 | 17 | $417.9M | 21 | ||
| 2025 Q3 | 15 | $371.7M | 52 | ||
| 2025 Q2 | 16 | $334.3M | 0 | ||
| 2025 Q1 | 19 | $383.2M | 100 | ||
| 2024 Q4 | 16 | $354.3M | 0 | ||
| 2024 Q3 | 16 | $350.3M | 0 | ||
| 2024 Q2 | 46 | $382.6M | 0 | ||
| 2024 Q1 | 45 | $403.7M | 0 | ||
| 2023 Q4 | 46 | $458.1M | 0 | ||
| 2023 Q3 | 13 | $276.8M | 0 | ||
| 2023 Q2 | 18 | $299.7M | 0 | ||
| 2023 Q1 | 18 | $247.3M | 0 | ||
| 2022 Q4 | 16 | $199.7M | 0 | ||
| 2022 Q3 | 17 | $174.8M | 0 | ||
| 2022 Q2 | 17 | $231.6M | 0 | ||
| 2022 Q1 | 19 | $265.3M | 0 | ||
| 2021 Q4 | 20 | $294.2M | 0 | ||
| 2021 Q3 | 21 | $352.2M | 0 | ||
| 2021 Q2 | 21 | $421.0M | 93 | ||
| 2021 Q1 | 21 | $362.5M | 44 | ||
| 2020 Q4 | 17 | $311.0M | 43 | ||
| 2020 Q3 | 20 | $275.3M | 43 | ||
| 2020 Q2 | 20 | $236.8M | 55 | ||
| 2020 Q1 | 21 | $277.8M | 70 | ||
| 2019 Q4 | 18 | $279.6M | 35 | ||
| 2019 Q3 | 21 | $283.9M | 61 | ||
| 2019 Q2 | 15 | $226.7M | 44 | ||
| 2019 Q1 | 17 | $246.4M | 55 | ||
| 2018 Q4 | 16 | $240.7M | 68 | ||
| 2018 Q3 | 17 | $268.0M | 0 |
Holding changes this quarter
Pennant Investors, LP's most significant position changes for 2026-06-30: Sold out: Core Scientific Inc (CORZ); Sold out: Ccc Intelligent Solutions Ho (CCC); New buy: Versigent LTD; Add: Amazon.com Inc (AMZN) — shares +38.46%; Trim: Echostar Corp-a (ECHO) — shares -27.58%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | AMZN | Amazon.com Inc | +4.8% | +38.46% | Add |
| 2 | ✓ | Versigent LTD | +3.8% | NEW | New buy |
| 3 | FLS | Flowserve CORP | +1.9% | +55.56% | Add |
| 4 | VMI | Valmont Industries | +1.9% | — | Unchanged |
| 5 | TDG | Transdigm Group Inc | +1.3% | — | Unchanged |
| 6 | PRM | Perimeter Solutions Inc | +1% | -26.57% | Trim |
| 7 | MSFT | Microsoft CORP | +1% | +0.60% | Add |
| 8 | GOOGL | Alphabet Inc-cl A | +0.8% | -11.13% | Trim |
| 9 | GEV | GE Vernova Inc | +0.5% | -24.39% | Trim |
| 10 | GRAB | Grab Holdings Limited | — | — | Unchanged |
| 11 | QXO | Qxo Inc | -0.1% | — | Unchanged |
| 12 | AR | Antero Resources CORP | -0.6% | — | Unchanged |
| 13 | EXE | Expand Energy CORP | -0.6% | — | Unchanged |
| 14 | SOLS | Solstice Adv Materials Inc | -0.8% | -24.72% | Trim |
| 15 | VRT | Vertiv Holdings Co-a | -2.2% | -50.46% | Trim |
| 16 | ECHO | Echostar Corp-a | -3.9% | -27.58% | Trim |
| 17 | CCC | Ccc Intelligent Solutions Ho | -4% | EXIT | Sold out |
| 18 | CORZ | Core Scientific Inc | -4.6% | EXIT | Sold out |
* 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.
Filing History
FAQ
What is Pennant Investors, LP and what type of investor is it?
Pennant Investors, LP 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 (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $334.9M, spread across 16 disclosed positions.
What are Pennant Investors, LP's largest equity positions?
Based on the latest 13F filing, Pennant Investors, LP's top holdings by market value are:
1. Solstice Adv Materials Inc (SOLS) — $42.4M (12.6%)
2. Amazon.com Inc (AMZN) — $38.6M (11.5%)
3. Microsoft CORP (MSFT) — $37.3M (11.1%)
4. Echostar Corp-a (ECHO) — $27.6M (8.2%)
5. Perimeter Solutions Inc (PRM) — $24.6M (7.3%)
What changes did Pennant Investors, LP make in its most recent portfolio filing?
In the latest reported quarter, Pennant Investors, LP made 12 notable position adjustments: 1 new positions were initiated, 3 existing holdings were added to, 6 positions were partially reduced, and 2 were completely exited. The largest of these moves: Sold out: Core Scientific Inc (CORZ); Sold out: Ccc Intelligent Solutions Ho (CCC); New buy: Versigent LTD; Add: Amazon.com Inc (AMZN) — shares +38.46%; Trim: Echostar Corp-a (ECHO) — shares -27.58%
What sectors does Pennant Investors, LP focus on?
Pennant Investors, LP is concentrated in the following sectors based on its current disclosed equity portfolio:
• Industrials: 33.6%
• Communication Services: 15.0%
• Materials: 14.2%
• Consumer Discretionary: 13.0%
• Information Technology: 12.5%
• Energy: 11.7%
Investment Profile
Pennant Investors, LP returned an annualized 37.5% over the trailing 36 months — outperforming the S&P 500 by 11.6 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 1.13 (more volatile than the market) and a 58% quarterly batting average against the index.
Its portfolio is broadly diversified and moderately active, with 33.6% of the portfolio concentrated in Industrials.
Its turnover score has risen from 0 to 33 over the past 4 quarters — a shift toward more active trading.
It has added to its GEV position over the past two quarters (+$3.4M, now $18.2M), while trimming ECHO over the same stretch (-$52.1M, still holding $27.6M).
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SI
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SS
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Developer Access
Access Pennant Investors, LP's institutional profile programmatically:
REST API
curl https://alphasmo.com/api/v1/institutions/pennant-investors-lpCLI
npx alphasmo institutions get pennant-investors-lp