Penbrook Management LLC

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 1, 2025), Penbrook Management LLC reported 107 stock positions worth $132.3 million. Its top holding was Novo-Nordisk A/S-Spons ADR (NVO) at 16.3% of the portfolio, followed by Amazon.com (AMZN, 7.5%) and Microsoft (MSFT, 7.4%). Compared with Q4 2024, it opened 5 new positions, sold out of 8, added to 19 and reduced 54. The biggest buy was Veren (VRN, shares +0%) and the biggest sale Novo-Nordisk A/S-Spons ADR (NVO, shares −0%).

Most Recent 13F
Q2 2026
Location
NEW YORK, NY
CIK
0001381055
Portfolio Value
$132.3M (Q1 2025)
SEC Filing
0001381055-25-000002 ↗ filed Apr 1, 2025

Holdings Value

0$50.0M$100.0M$150.0M$200.0M Q1 2024: $161.3M Q1 2024 Q2 2024: $163.8M Q2 2024 Q3 2024: $153.8M Q3 2024 Q4 2024: $146.6M Q4 2024 Q1 2025: $132.3M $132.3M Q1 2025 Q2 2025: $133.0M Q2 2025 Q3 2025: $143.2M Q3 2025 Q4 2025: $145.0M Q4 2025 Q1 2026: $132.1M Q1 2026 Q2 2026: $156.8M Q2 2026

Holdings 107 stocks · $132.3M
NVO Novo-Nordisk A/S-Spons ADR 16.34% 311,400 $21.6M Reduce -0.3%
AMZN Amazon.com Inc. 7.51% 52,240 $9.9M Reduce -0.2%
MSFT Microsoft Corp. 7.38% 26,007 $9.8M Reduce -3.0%
MCO Moody's Corp. 4.80% 13,650 $6.4M No change
TRI Thomson Reuters Corp. 3.24% 24,848 $4.3M Reduce -0.6%
GOOG Alphabet Inc. Class C 2.92% 24,720 $3.9M Reduce -0.4%
GOOGL Alphabet Inc. Class A 2.71% 23,170 $3.6M No change
VRN Veren Inc. 2.21% 441,125 $2.9M Add +0.0%
TRGP Targa Resources Corp. 1.89% 12,451 $2.5M Reduce -9.2%
BX Blackstone Inc. 1.64% 15,500 $2.2M Reduce -0.6%
ADP Automatic Data Processing 1.46% 6,300 $1.9M No change
PLAB Photronics Inc. 1.44% 92,045 $1.9M Reduce -1.1%
BRK.B Berkshire Hathaway Inc. Class B 1.44% 3,580 $1.9M No change
COOP Mr Cooper Group Inc. 1.43% 15,825 $1.9M Add +0.6%
NNY Nuveen New York Muni Val 1.33% 213,727 $1.8M No change
FNF Fidelity National Financial 1.33% 27,059 $1.8M Reduce -1.8%
SONY Sony Group Corp. - SP ADR 1.31% 68,500 $1.7M No change
VZ Verizon Communications Inc. 1.20% 34,871 $1.6M Add +24.9%
ET Energy Transfer LP 1.17% 83,465 $1.6M Reduce -0.0%
VMD Viemed Healthcare Inc. 1.14% 206,577 $1.5M Reduce -3.4%
VET Vermilion Energy Inc. 1.12% 182,400 $1.5M Reduce -0.6%
PL Planet Labs PBC 0.98% 382,355 $1.3M Reduce -10.5%
BPOP Popular Inc. 0.94% 13,450 $1.2M Reduce -2.5%
SPY SS SPDR S&P 500 ETF Trust-US 0.92% 2,165 $1.2M Reduce -6.5%
WMB Williams Cos Inc. 0.89% 19,730 $1.2M Reduce -1.0%
OKE Oneok Inc. 0.89% 11,835 $1.2M Reduce -1.7%
SA Seabridge Gold Inc. 0.88% 99,195 $1.2M Reduce -0.5%
CSCO Cisco Systems Inc. 0.86% 18,350 $1.1M No change
ABBV Abbvie Inc. 0.84% 5,273 $1.1M No change
MESO Mesoblast Ltd.- Spon ADR 0.83% 87,675 $1.1M Reduce -3.7%
ALKT Alkami Technology Inc. 0.82% 41,410 $1.1M Reduce -6.8%
USAC USA Compression Partners LP 0.81% 39,476 $1.1M Reduce -5.3%
ABNB Airbnb Inc. Class A 0.80% 8,850 $1.1M No change
SYF Synchrony Financial 0.79% 19,800 $1.0M Reduce -5.7%
FBP First Bancorp Puerto Rico 0.79% 54,600 $1.0M Reduce -1.8%
ASUR Asure Software Inc. 0.74% 102,985 $984K Reduce -9.7%
META Meta Platforms Inc. Class A 0.74% 1,700 $980K No change
ACLS Axcelis Technologies Inc. 0.74% 19,640 $976K Add +0.4%
HESM Hess Midstream LP Class A 0.74% 23,030 $974K Reduce -13.5%
QQQ Invesco QQQ Trust Series 1 0.72% 2,045 $959K Reduce -6.8%
AAPL Apple Inc. 0.68% 4,054 $901K Reduce -1.2%
COHU Cohu Inc. 0.56% 50,300 $740K Reduce -7.0%
SHEL Shell PLC-ADR 0.55% 9,900 $725K No change
NVGS Navigator Holdings Ltd. 0.53% 52,300 $696K Reduce -38.1%
BLFS Biolife Solutions Inc. 0.53% 30,425 $695K Reduce -0.7%
DAIO Data I/O Corp. 0.50% 269,450 $660K Reduce -0.7%
NVS Novartis AG-Sponsored ADR 0.49% 5,760 $642K No change
KLIC Kulicke & Soffa Industries 0.47% 19,055 $628K Add +0.4%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.47% 2,525 $628K No change
EMR Emerson Electric Co. 0.45% 5,400 $592K No change
RRC Range Resources Corp. 0.43% 14,340 $573K Reduce -2.0%
REGN Regeneron Pharmaceuticals 0.43% 897 $569K No change
NVDA Nvidia Corp. 0.43% 5,223 $566K New
PAR Par Technology Corp. 0.42% 8,980 $551K Add +9.1%
NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD 0.40% 51,190 $524K Add +3.0%
GBDC Golub Capital BDC Inc. 0.39% 33,880 $513K Add +18.3%
PIM Franklin Master Interm IT-Ui filed as PUTNAM MASTER INTER INCOME T 0.37% 148,163 $492K Reduce -0.4%
MP MP Materials Corp. 0.36% 19,765 $482K Reduce -1.1%
HTGC Hercules Capital Inc. 0.36% 24,982 $480K Add +1.5%
BBSI Barrett Business SVCS Inc. 0.36% 11,600 $477K Reduce -3.3%
WES Western Midstream Partners L 0.36% 11,600 $475K Add +81.3%
NPKI NPK International Inc. 0.36% 81,410 $473K Reduce -0.7%
POWI Power Integrations Inc. 0.35% 9,200 $465K No change
SGOL Abrdn Physical Gold Shares 0.35% 15,340 $457K New
DMLP Dorchester Minerals LP 0.33% 14,550 $438K Add +16.9%
MGNI Magnite Inc. 0.33% 38,170 $436K Reduce -0.8%
CURI Curiositystream Inc. 0.32% 160,350 $430K Reduce -0.9%
ELVA Electrovaya Inc. 0.32% 182,215 $424K Reduce -0.6%
IBB iShares Biotechnology ETF 0.31% 3,240 $414K Reduce -3.6%
EPD Enterprise Products Partners 0.31% 11,990 $409K Add +4.3%
T AT&T Inc. 0.31% 14,455 $409K No change
CVE Cenovus Energy Inc. 0.30% 28,800 $401K No change
RSP Invesco S&P 500 Equal Weight 0.28% 2,170 $376K No change
BLDR Builders Firstsource Inc. 0.26% 2,741 $342K Reduce -4.6%
ORI Old Republic Intl Corp. 0.25% 8,480 $333K Add +5.0%
PUBM Pubmatic Inc. Class A 0.24% 35,445 $324K Add +1.1%
FIS Fidelity National Info Serv 0.24% 4,324 $323K Add +4.8%
CYRX Cryoport Inc. 0.24% 52,170 $317K Reduce -0.8%
AFL Aflac Inc. 0.24% 2,850 $317K No change
UTG Reaves Utility Income Fund 0.24% 9,725 $316K Reduce -1.5%
INVE Inve Technologies Inc. filed as IDENTIV INC 0.23% 96,244 $307K Reduce -4.3%
FAF First American Financial 0.23% 4,650 $305K Reduce -6.1%
CVS CVS Health Corp. 0.23% 4,500 $305K Reduce -6.3%
AEHR Aehr Test Systems 0.23% 41,375 $302K Add +22.3%
ARCC Ares Capital Corp. 0.23% 13,490 $299K Add +23.9%
JEPI JPMorgan Equity Premium Inco 0.22% 5,150 $294K No change
LINC Lincoln Educational Services 0.20% 16,996 $270K Reduce -50.9%
PBI Pitney Bowes Inc. 0.20% 29,125 $264K New
WBS Webster Financial Corp. 0.20% 5,080 $262K Add +5.2%
BDX Becton Dickinson and Co. 0.19% 1,115 $255K No change
CVX Chevron Corp. 0.19% 1,490 $249K Reduce -4.2%
WLY Wiley (john) & Sons Class A 0.19% 5,500 $245K No change
OESX Orion Energy Systems Inc. 0.18% 337,597 $243K Reduce -0.9%
TLT iShares 20+ Year Treasury BD 0.18% 2,595 $236K No change
BLZE Backblaze Inc. Class A 0.17% 47,275 $228K Reduce -1.3%
COP Conocophillips 0.16% 2,025 $213K No change
JPC Nuveen Prefered & Income Opp 0.15% 25,710 $205K No change
VKQ Invesco Municipal Trust 0.15% 20,000 $193K No change
NUV Nuveen Municipal Value 0.13% 20,000 $175K No change
XGN Exagen Inc. 0.11% 39,365 $141K Reduce -11.7%
ASPN Aspen Aerogels Inc. 0.09% 18,155 $116K New
F Ford Motor Co. filed as FORD MTR CO 0.09% 11,500 $115K No change
MIN Aberdeen Intermediate Inc. FD 0.07% 35,893 $97K Reduce -4.3%
KOPN Kopin Corp. 0.07% 93,325 $87K Add +92.1%
AQST Aquestive Therapeutics Inc. 0.05% 22,585 $65K New
TUSK Mammoth Energy Services Inc. 0.02% 14,000 $29K Reduce -36.9%
OCEAN POWER TECHNOLOGIES INC 0.01% 15,000 $7K Reduce -52.4%

Portfolio Sells Q4 2024 → Q1 2025
NVO Novo-Nordisk A/S-Spons ADR Reduce -0.3% 16.34% −1.99
SKY Champion Homes Inc. Sold out 0.00% −0.52
COHU Cohu Inc. Reduce -7.0% 0.56% −0.43
MESO Mesoblast Ltd.- Spon ADR Reduce -3.7% 0.83% −0.40
NVGS Navigator Holdings Ltd. Reduce -38.1% 0.53% −0.36
IVAC Intevac Inc. Sold out 0.00% −0.35
MSFT Microsoft Corp. Reduce -3.0% 7.38% −0.33
AMZN Amazon.com Inc. Reduce -0.2% 7.51% −0.32
GOOG Alphabet Inc. Class C Reduce -0.4% 2.92% −0.30
ALKT Alkami Technology Inc. Reduce -6.8% 0.82% −0.29
WMT Walmart Inc. Sold out 0.00% −0.24
PL Planet Labs PBC Reduce -10.5% 0.98% −0.20
BX Blackstone Inc. Reduce -0.6% 1.64% −0.20
MRK Merck & Co. Inc. Sold out 0.00% −0.18
LINC Lincoln Educational Services Reduce -50.9% 0.20% −0.17
SYF Synchrony Financial Reduce -5.7% 0.79% −0.14
MGNI Magnite Inc. Reduce -0.8% 0.33% −0.09
NPKI NPK International Inc. Reduce -0.7% 0.36% −0.07
VET Vermilion Energy Inc. Reduce -0.6% 1.12% −0.06
EOSE Eos Energy Enterprises Inc. Sold out 0.00% −0.05
INDI Indie Semiconductor Inc. Class A Sold out 0.00% −0.05
PLAB Photronics Inc. Reduce -1.1% 1.44% −0.05
QQQ Invesco QQQ Trust Series 1 Reduce -6.8% 0.72% −0.04
CYRX Cryoport Inc. Reduce -0.8% 0.24% −0.04
VMD Viemed Healthcare Inc. Reduce -3.4% 1.14% −0.03
BLZE Backblaze Inc. Class A Reduce -1.3% 0.17% −0.02
TUSK Mammoth Energy Services Inc. Reduce -36.9% 0.02% −0.02
BLDR Builders Firstsource Inc. Reduce -4.6% 0.26% −0.02
AAPL Apple Inc. Reduce -1.2% 0.68% −0.02
ONDS Ondas Inc. Sold out 0.00% −0.02
INVE Inve Technologies Inc. Reduce -4.3% 0.23% −0.02
XGN Exagen Inc. Reduce -11.7% 0.11% −0.02
BLFS Biolife Solutions Inc. Reduce -0.7% 0.53% −0.02
OCEAN POWER TECHNOLOGIES INC Reduce -52.4% 0.01% −0.02
DAIO Data I/O Corp. Reduce -0.7% 0.50% −0.01
SPY SS SPDR S&P 500 ETF Trust-US Reduce -6.5% 0.92% −0.01
SACKS PARENTE GOLF INC Sold out 0.00% −0.01
OESX Orion Energy Systems Inc. Reduce -0.9% 0.18% −0.00
MIN Aberdeen Intermediate Inc. FD Reduce -4.3% 0.07% +0.01
BBSI Barrett Business SVCS Inc. Reduce -3.3% 0.36% +0.01
IBB iShares Biotechnology ETF Reduce -3.6% 0.31% +0.01
ASUR Asure Software Inc. Reduce -9.7% 0.74% +0.01
ELVA Electrovaya Inc. Reduce -0.6% 0.32% +0.01
FAF First American Financial Reduce -6.1% 0.23% +0.02
UTG Reaves Utility Income Fund Reduce -1.5% 0.24% +0.03
CVX Chevron Corp. Reduce -4.2% 0.19% +0.03
PIM Franklin Master Interm IT-Ui Reduce -0.4% 0.37% +0.04
BPOP Popular Inc. Reduce -2.5% 0.94% +0.05
ET Energy Transfer LP Reduce -0.0% 1.17% +0.06
OKE Oneok Inc. Reduce -1.7% 0.89% +0.06

Portfolio Buys Q4 2024 → Q1 2025
VRN Veren Inc. Add +0.0% 2.21% +0.66
VZ Verizon Communications Inc. Add +24.9% 1.20% +0.43
NVDA Nvidia Corp. New 0.43% +0.43
COOP Mr Cooper Group Inc. Add +0.6% 1.43% +0.40
SGOL Abrdn Physical Gold Shares New 0.35% +0.35
PBI Pitney Bowes Inc. New 0.20% +0.20
WES Western Midstream Partners L Add +81.3% 0.36% +0.19
GBDC Golub Capital BDC Inc. Add +18.3% 0.39% +0.09
ASPN Aspen Aerogels Inc. New 0.09% +0.09
EPD Enterprise Products Partners Add +4.3% 0.31% +0.06
ARCC Ares Capital Corp. Add +23.9% 0.23% +0.06
ORI Old Republic Intl Corp. Add +5.0% 0.25% +0.05
AQST Aquestive Therapeutics Inc. New 0.05% +0.05
DMLP Dorchester Minerals LP Add +16.9% 0.33% +0.05
NU Nu Holdings Ltd./Cayman Isl-A Add +3.0% 0.40% +0.05
HTGC Hercules Capital Inc. Add +1.5% 0.36% +0.03
KOPN Kopin Corp. Add +92.1% 0.07% +0.02
FIS Fidelity National Info Serv Add +4.8% 0.24% +0.02
WBS Webster Financial Corp. Add +5.2% 0.20% +0.02
PAR Par Technology Corp. Add +9.1% 0.42% +0.01
PUBM Pubmatic Inc. Class A Add +1.1% 0.24% −0.11
KLIC Kulicke & Soffa Industries Add +0.4% 0.47% −0.13
AEHR Aehr Test Systems Add +22.3% 0.23% −0.16
ACLS Axcelis Technologies Inc. Add +0.4% 0.74% −0.20

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 101$156.8MNVO, AMZN, GOOGL, MSFT, GOOG
Q1 2026 93$132.1MNVO, AMZN, MSFT, GOOGL, GOOG
Q4 2025 97$145.0MNVO, AMZN, MSFT, GOOGL, GOOG
Q3 2025 104$143.2MNVO, MSFT, AMZN, MCO, GOOGL
Q2 2025Amended 102$133.0MNVO, MSFT, AMZN, MCO, TRI
Q1 2025 107$132.3MNVO, AMZN, MSFT, MCO, TRI
Q4 2024 110$146.6MNVO, AMZN, MSFT, MCO, GOOG
Q3 2024 104$153.8MNVO, MSFT, AMZN, MCO, TRI
Q2 2024 101$163.8MNVO, MSFT, AMZN, MCO, GOOG
Q1 2024 102$161.3MNVO, MSFT, AMZN, MCO, ACLS