Penn Capital Management Company LLC's Q4 2025 13F: 30 new positions, 35 exits
Form 13F-HR for the quarter ended Dec 31, 2025 · filed Feb 9, 2026 · 164 reported positions · accession 0001420506-26-000232
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| New | ELDORADO GOLD CORP NEW (EGO) | — | 1.5% | +1.5 pts | +508K sh | new |
| New | ACM RESH INC (ACMR) | — | 1.4% | +1.4 pts | +436K sh | new |
| Exited | GOLDEN ENTMT INC (GDEN) | 1.2% | — | −1.2 pts | −677K sh | −100% |
| Exited | COEUR MNG INC (CDE) | 1.2% | — | −1.2 pts | −805K sh | −100% |
| Reduced | ONEMAIN HLDGS INC (OMF) | 0.9% | 0.1% | −0.8 pts | −188K sh | −92% |
| New | SOLENO THERAPEUTICS INC (SLNO) | — | 1.0% | +1.0 pts | +276K sh | new |
| Exited | TAYLOR MORRISON HOME CORP (TMHC) | 1.0% | — | −1.0 pts | −199K sh | −100% |
| Exited | ODDITY TECH LTD (ODD) | 1.0% | — | −1.0 pts | −210K sh | −100% |
| New | AMNEAL PHARMACEUTICALS INC (AMRX) | — | 1.0% | +1.0 pts | +1M sh | new |
| Reduced | RAMBUS INC DEL (RMBS) | 1.2% | 0.1% | −1.1 pts | −135K sh | −89% |
| Increased | SOLARIS ENERGY INFRAS INC (SEI) | 0.1% | 1.1% | +1.0 pts | +271K sh | +1559% |
| Reduced | NORWEGIAN CRUISE LINE HLDG L (NCLH) | 1.1% | 0.1% | −1.0 pts | −536K sh | −91% |
| Reduced | DYCOM INDS INC (DY) | 1.9% | 1.4% | −0.5 pts | −33,623 sh | −39% |
| Reduced | PERELLA WEINBERG PARTNERS (PWP) | 1.1% | 0.0% | −1.1 pts | −656K sh | −95% |
| New | MIAMI INTL HLDGS INC (MIAX) | — | 0.9% | +0.9 pts | +252K sh | new |
| Exited | KYNDRYL HLDGS INC (KD) | 0.9% | — | −0.9 pts | −375K sh | −100% |
| Increased | ANI PHARMACEUTICALS INC (ANIP) | 0.0% | 0.9% | +0.8 pts | +131K sh | +2059% |
| Reduced | ALPHATEC HLDGS INC (ATEC) | 1.7% | 1.8% | +0.1 pts | −489K sh | −31% |
| Increased | CAPRI HOLDINGS LIMITED (CPRI) | 0.0% | 0.8% | +0.8 pts | +393K sh | +3221% |
| New | ITRON INC (ITRI) | — | 0.8% | +0.8 pts | +103K sh | new |
| New | UNITI GROUP LLC (UNIT) | — | 0.7% | +0.7 pts | +1.27M sh | new |
| Increased | CHEMOURS CO (CC) | 0.8% | 1.3% | +0.5 pts | +736K sh | +113% |
| Exited | COMMERCIAL METALS CO (CMC) | 0.6% | — | −0.6 pts | −145K sh | −100% |
| Exited | ASPEN AEROGELS INC (ASPN) | 0.6% | — | −0.6 pts | −1.04M sh | −100% |
| New | CONSTELLIUM SE (CSTM) | — | 0.5% | +0.5 pts | +365K sh | new |
| Increased | EZCORP INC (EZPW) | 0.2% | 0.8% | +0.6 pts | +347K sh | +233% |
| Reduced | WAYSTAR HLDG CORP (WAY) | 1.4% | 0.7% | −0.7 pts | −194K sh | −42% |
| Reduced | AMENTUM HOLDINGS INC (AMTM) | 1.8% | 1.7% | 0.0 pts | −217K sh | −23% |
| Reduced | CAMTEK LTD (CAMT) | 1.4% | 1.1% | −0.4 pts | −54,143 sh | −30% |
| Exited | BGC GROUP INC (BGC) | 0.5% | — | −0.5 pts | −623K sh | −100% |
| Increased | UNITED PARKS & RESORTS INC (PRKS) | 1.1% | 1.2% | +0.1 pts | +128K sh | +45% |
| Increased | CAESARS ENTERTAINMENT INC NE (CZR) | 1.3% | 1.4% | +0.2 pts | +159K sh | +26% |
| Increased | HARROW INC (HROW) | 1.2% | 1.5% | +0.3 pts | +66,589 sh | +20% |
| Increased | OUSTER INC (OUST) | 1.3% | 1.3% | 0.0 pts | +150K sh | +24% |
| Reduced | WEATHERFORD INTL PLC (WFRD) | 1.7% | 1.8% | +0.1 pts | −37,927 sh | −12% |
| Reduced | LUMEN TECHNOLOGIES INC (LUMN) | 1.3% | 1.5% | +0.2 pts | −368K sh | −13% |
| New | BYRNA TECHNOLOGIES INC (BYRN) | — | 0.2% | +0.2 pts | +166K sh | new |
| Reduced | PDF SOLUTIONS INC (PDFS) | 0.2% | 0.0% | −0.2 pts | −97,487 sh | −83% |
| Reduced | GULFPORT ENERGY CORP (GPOR) | 1.5% | 1.6% | +0.1 pts | −13,200 sh | −12% |
| Exited | FOX FACTORY HLDG CORP (FOXF) | 0.2% | — | −0.2 pts | −117K sh | −100% |
| Reduced | GCM GROSVENOR INC (GCMG) | 0.6% | 0.4% | −0.2 pts | −234K sh | −34% |
| Increased | THE REALREAL INC (REAL) | 1.0% | 1.7% | +0.7 pts | +154K sh | +13% |
| Exited | DOLE PLC (DOLE) | 0.2% | — | −0.2 pts | −185K sh | −100% |
| Increased | ISHARES TR (IWM) | 0.0% | 0.2% | +0.2 pts | +9,191 sh | +585% |
| Increased | VANGUARD INDEX FDS (VXF) | 0.1% | 0.3% | +0.2 pts | +10,620 sh | +223% |
| Exited | MISSION PRODUCE INC (AVO) | 0.2% | — | −0.2 pts | −188K sh | −100% |
| Exited | TREEHOUSE FOODS INC (THS) | 0.2% | — | −0.2 pts | −111K sh | −100% |
| Increased | CHEFS WHSE INC (CHEF) | 1.0% | 1.3% | +0.3 pts | +34,011 sh | +15% |
| New | CONMED CORP (CNMD) | — | 0.2% | +0.2 pts | +51,493 sh | new |
| Increased | 3-D SYS CORP DEL (DDD) | 0.0% | 0.2% | +0.2 pts | +1.17M sh | +992% |
The 50 largest of 188 changes, by size of the trade. Full holdings for this quarter.
Reported by the fund in its Form 13F filed with the SEC; holdings are as of the quarter-end report date and may have changed since. For informational purposes only — not investment advice or a recommendation to buy or sell any security. FilingExplorer is not affiliated with or endorsed by this fund. How this brief is compiled
† Security identifier (CUSIP) changed — read as one continuing position, not an exit and a new position:
- DIVERSIFIED ENERGY CO (DEC): G2891G204 → 25520W107, 91,912 → 52,282 shares (share count changed with the identifier; not shown as a trade)
Top 10 positions — 16.8% of the equity book
Changes in the top 10 this quarter: REAL entered · HROW entered · DY left · NMRK left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | ALPHATEC HLDGS INC (ATEC) | 1.7% | 1.8% | |
| 2 | WEATHERFORD INTL PLC (WFRD) | 1.7% | 1.8% | |
| 3 | MIRUM PHARMACEUTICALS INC (MIRM) | 1.7% | 1.8% | |
| 4 | AMENTUM HOLDINGS INC (AMTM) | 1.8% | 1.7% | |
| 5 | NEXSTAR MEDIA GROUP INC (NXST) | 1.5% | 1.7% | |
| 6 | THE REALREAL INC (REAL) | 1.0% | 1.7% | Entered the top 10 |
| 7 | GULFPORT ENERGY CORP (GPOR) | 1.5% | 1.6% | |
| 8 | AMERIS BANCORP (ABCB) | 1.7% | 1.6% | |
| 9 | RADNET INC (RDNT) | 1.7% | 1.6% | |
| 10 | HARROW INC (HROW) | 1.2% | 1.5% | Entered the top 10 |
| — | DYCOM INDS INC (DY) | 1.9% | 1.4% | Left the top 10 |
| — | NEWMARK GROUP INC (NMRK) | 1.6% | 1.5% | Left the top 10 |
Weights are each position's reported value as a share of the fund's reported equity positions (options and principal-amount holdings excluded).