Pennant Investors, LP
Long book
$361.0M
Q1 2026
Positions
17
Top-10 weight
78%
concentration
Last quarter
+8.7%
SPY +14.8%
Turnover
6%
of book per quarter
Strategy in plain words
auto-generated from filingsPennant Investors, LP is a concentrated fundamental stock-picker, running a $361.0M US long book across 17 positions.
The portfolio is extremely concentrated — the top 10 positions are almost the whole book. The book barely moves quarter to quarter — a patient, low-turnover holder. Current anchor positions: SOLSTICE ADV MATERIALS INC, ECHOSTAR CORP-A, MICROSOFT CORP, VERTIV HOLDINGS CO-A, AMAZON.COM INC.
Over the last 9 quarters its long book ran on average 5pp per quarter ahead of the S&P 500, beating the index in 6 of 9 quarters. We rate its filings highest-signal: new buys here are worth attention.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+6.9%
Q2 2024
+2.0%
Q3 2024
+4.4%
Q4 2024
-5.7%
Q1 2025
+24.7%
Q2 2025
+28.8%
Q3 2025
+11.0%
Q4 2025
+4.5%
Q1 2026
+8.7%
Sector allocation
Technology 26%
Materials 20%
Industrials 16%
Communications 12%
Energy 12%
Consumer discretionary 9%
Financials 5%
Long book by quarter
What does Pennant Investors, own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| SOLS SOLSTICE ADV MATERIALS INC | Materials | 635.0K | $48.4M | 13.4% | -9.3% |
| ECHO ECHOSTAR CORP-A | Communications | 375.4K | $43.9M | 12.2% | -48.8% |
| MSFT MICROSOFT CORP | Technology | 99.4K | $36.8M | 10.2% | +17.8% |
| VRT VERTIV HOLDINGS CO-A | Technology | 109.0K | $27.3M | 7.6% | Held |
| AMZN AMAZON.COM INC | Consumer discretionary | 117.0K | $24.4M | 6.7% | -3.3% |
| PRM PERIMETER SOLUTIONS INC | Materials | 938.3K | $22.9M | 6.3% | -21.4% |
| EXE EXPAND ENERGY CORP | Energy | 196.0K | $21.5M | 6.0% | -9.3% |
| AR ANTERO RESOURCES CORP | Energy | 480.0K | $20.4M | 5.6% | -9.4% |
| TDG TRANSDIGM GROUP INC | Industrials | 16.8K | $19.4M | 5.4% | -9.2% |
| GEV GE VERNOVA INC | Industrials | 20.5K | $17.9M | 5.0% | -9.3% |
| CORZ CORE SCIENTIFIC INC | Financials | 1.1M | $16.6M | 4.6% | -27.9% |
| GOOGL ALPHABET INC-CL A | Technology | 53.9K | $15.5M | 4.3% | -41.4% |
| CCC CCC INTELLIGENT SOLUTIONS HO | Technology | 2.4M | $14.5M | 4.0% | -9.4% |
| VMI VALMONT INDUSTRIES | Industrials | 30.0K | $12.0M | 3.3% | -9.4% |
| FLS FLOWSERVE CORP | Industrials | 135.0K | $9.9M | 2.7% | New |
| QXO QXO INC | Consumer discretionary | 492.0K | $9.6M | 2.6% | -9.4% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 17 | $361.0M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 17 | $417.9M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 15 | $371.7M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 16 | $334.3M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 19 | $383.2M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 16 | $354.3M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 16 | $350.3M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 46 | $382.6M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 15, 2024 | 45 | $403.7M | canonical | SEC ↗ |
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