CIK: 0002011563
Total reported value
$198.9M
Reporting period: 2026-03-31 · Number of holdings: 15
Pennant Select, LLC disclosed 15 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $198.9M and a quarterly turnover rate of 45.2%.
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Pennant Select, LLC's disclosed holdings carry a Herfindahl concentration index of 0.120 — mathematically equivalent to about 8 equally-sized positions, well below its 15 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 0.93), 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 4.2 percentage-point tilt) — a pattern consistent with a momentum-following approach.
Trim PRM
-89.7% -$14.3M
Trim ECHO
-23.3% -$10.4M
Add QXO
+269.8% $11.3M
Add AMZN
+94.7% $10.9M
Add ASML
0.0% $3.0M
Trim MSFT
+28.5% -$414.9K
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | ECHO | Echostar Corp-a | Stock-Comm Services | 24.84% | -6.80% | -23.27% | |
| 2 | AMZN | Amazon.com INC | Stock-Consumer Disc | 12.70% | +5.09% | +94.70% | |
| 3 | MSFT | Microsoft CORP | Stock-Tech | 12.58% | -0.88% | +28.52% | |
| 4 | ASML | ASML Holding N.V. | Stock-Tech | 7.97% | +1.18% | — | |
| 5 | QXO | Qxo INC | Stock-Industrials | 7.76% | +5.57% | +269.77% | |
| 6 | VMI | Valmont Industries | Stock-Industrials | 6.63% | -0.40% | — | |
| 7 | FLS | Flowserve CORP | Stock-Industrials | 4.62% | +4.62% | NEW | |
| 8 | AR | Antero Resources CORP | Stock-Energy | 4.55% | +0.66% | — | |
| 9 | EXE | Expand Energy CORP | Stock-Energy | 3.85% | -0.22% | — | |
| 10 | TDG | Transdigm Group INC | Stock-Industrials | 3.61% | -0.75% | — | |
| 11 | GNRC | Generac Holdings INC | Stock-Industrials | 3.14% | +3.14% | NEW | |
| 12 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 2.91% | -0.42% | — | |
| 13 | AIRJ | Airjoule Technologies CORP | Stock-Other | 2.75% | +2.75% | NEW | |
| 14 | VRT | Vertiv Holdings Co-a | Stock-Industrials | 1.36% | +0.43% | — | |
| 15 | PRM | Perimeter Solutions INC | Stock-Other | 0.72% | -7.58% | -89.70% |
Performance for Q3 2026
-9.9%
Performance Last 4 Quarters
+95%
Based on 79% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 15 | $198.9M | 45 | |
| 2025-12-31 | 13 | $189.0M | 22 | |
| 2025-09-30 | 12 | $159.0M | 33 | |
| 2025-06-30 | 12 | $130.4M | 0 | |
| 2025-03-31 | 11 | $128.5M | 0 | |
| 2024-12-31 | 10 | $130.4M | 0 | |
| 2024-09-30 | 10 | $141.9M | 0 | |
| 2024-06-30 | 10 | $142.5M | 0 | |
| 2024-03-31 | 10 | $132.9M | 0 | |
| 2023-12-31 | 7 | $105.4M | 0 |
Pennant Select, LLC's most significant position changes for 2026-03-31: Sold out: Npk International INC (NPKI); New buy: Flowserve CORP (FLS); New buy: Generac Holdings INC (GNRC); New buy: Airjoule Technologies CORP (AIRJ); Trim: Perimeter Solutions INC (PRM) — shares -89.70%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | QXO | Qxo INC | +5.6% | +269.77% | Add |
| 2 | AMZN | Amazon.com INC | +5.1% | +94.70% | Add |
| 3 | ASML | ASML Holding N.V. | +1.2% | — | Unchanged |
| 4 | AR | Antero Resources CORP | +0.7% | — | Unchanged |
| 5 | VRT | Vertiv Holdings Co-a | +0.4% | — | Unchanged |
| 6 | EXE | Expand Energy CORP | -0.2% | — | Unchanged |
| 7 | VMI | Valmont Industries | -0.4% | — | Unchanged |
| 8 | GOOGL | Alphabet Inc-cl A | -0.4% | — | Unchanged |
| 9 | TDG | Transdigm Group INC | -0.8% | — | Unchanged |
| 10 | MSFT | Microsoft CORP | -0.9% | +28.52% | Add |
| 11 | ECHO | Echostar Corp-a | -6.8% | -23.27% | Trim |
| 12 | PRM | Perimeter Solutions INC | -7.6% | -89.70% | Trim |
| 13 | NPKI | Npk International INC | — | EXIT | Sold out |
| 14 | FLS | Flowserve CORP | — | NEW | New buy |
| 15 | GNRC | Generac Holdings INC | — | NEW | New buy |
| 16 | AIRJ | Airjoule Technologies 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 |
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