Penbrook Management LLC

Name: Penbrook Management LLC 13F holdings, Q2 2025
Creator: Penbrook Management LLC
Published: 2025-07-28

Q2 2026Q1 2026Q4 2025Q3 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 28, 2025), Penbrook Management LLC reported 102 stock positions worth $133.0 million. Its top holding was Novo-Nordisk A/S-Spons ADR (NVO) at 16.2% of the portfolio, followed by Microsoft (MSFT, 9.3%) and Amazon.com (AMZN, 8.5%). Compared with Q1 2025, it opened 4 new positions, sold out of 9, added to 5 and reduced 60. The biggest buy was Aehr Test Systems (AEHR, shares +205%) and the biggest sale an exit from Veren (VRN).

Most Recent 13F: Q2 2026
Location: NEW YORK, NY
CIK: 0001381055
Portfolio Value: $133.0M (Q2 2025)
SEC Filing: 0001381055-25-000006 ↗ filed Jul 28, 2025

Holdings Value

Holdings 102 stocks · $133.0M


NVO Novo-Nordisk A/S-Spons ADR	16.16%	311,400	$21.5M	No change
MSFT Microsoft Corp.	9.34%	24,980	$12.4M	Reduce -4.0%
AMZN Amazon.com Inc.	8.47%	51,355	$11.3M	Reduce -1.7%
MCO Moody's Corp.	5.15%	13,650	$6.8M	No change
TRI Thomson Reuters Corp.	3.75%	24,848	$5.0M	No change
GOOG Alphabet Inc. Class C	3.30%	24,720	$4.4M	No change
GOOGL Alphabet Inc. Class A	3.07%	23,170	$4.1M	No change
BX Blackstone Inc.	1.68%	14,900	$2.2M	Reduce -3.9%
TRGP Targa Resources Corp.	1.60%	12,201	$2.1M	Reduce -2.0%
PL Planet Labs PBC	1.55%	337,870	$2.1M	Reduce -11.6%
PLAB Photronics Inc.	1.51%	106,430	$2.0M	Add +15.6%
ADP Automatic Data Processing	1.46%	6,300	$1.9M	No change
SONY Sony Group Corp. - SP ADR	1.34%	68,500	$1.8M	No change
NNY Nuveen New York Muni Val	1.30%	213,727	$1.7M	No change
AEHR Aehr Test Systems	1.23%	126,250	$1.6M	Add +205.1%
BRK.B Berkshire Hathaway Inc. Class B	1.13%	3,100	$1.5M	Reduce -13.4%
ET Energy Transfer LP	1.12%	82,340	$1.5M	Reduce -1.4%
FNF Fidelity National Financial	1.10%	26,021	$1.5M	Reduce -3.8%
BPOP Popular Inc.	1.09%	13,150	$1.4M	Reduce -2.2%
SA Seabridge Gold Inc.	1.05%	96,545	$1.4M	Reduce -2.7%
VZ Verizon Communications Inc.	1.04%	31,935	$1.4M	Reduce -8.4%
VET Vermilion Energy Inc.	0.99%	181,275	$1.3M	Reduce -0.6%
SYF Synchrony Financial	0.97%	19,350	$1.3M	Reduce -2.3%
CSCO Cisco Systems Inc.	0.96%	18,350	$1.3M	No change
META Meta Platforms Inc. Class A	0.94%	1,700	$1.3M	No change
VMD Viemed Healthcare Inc.	0.94%	180,020	$1.2M	Reduce -12.9%
WMB Williams Cos Inc.	0.93%	19,730	$1.2M	No change
SPY SS SPDR S&P 500 ETF Trust-US	0.89%	1,915	$1.2M	Reduce -11.6%
ACLS Axcelis Technologies Inc.	0.89%	16,895	$1.2M	Reduce -14.0%
ABNB Airbnb Inc. Class A	0.88%	8,850	$1.2M	No change
ALKT Alkami Technology Inc.	0.88%	38,795	$1.2M	Reduce -6.3%
FBP First Bancorp Puerto Rico	0.82%	52,600	$1.1M	Reduce -3.7%
DAIO Data I/O Corp.	0.82%	349,750	$1.1M	Add +29.8%
QQQ Invesco QQQ Trust Series 1	0.81%	1,945	$1.1M	Reduce -4.9%
ELVA Electrovaya Inc.	0.79%	308,111	$1.1M	Add +69.1%
ABBV Abbvie Inc.	0.74%	5,273	$979K	No change
MESO Mesoblast Ltd.- Spon ADR	0.72%	87,675	$955K	No change
USAC USA Compression Partners LP	0.71%	38,838	$944K	Reduce -1.6%
OKE Oneok Inc.	0.71%	11,510	$940K	Reduce -2.8%
HESM Hess Midstream LP Class A	0.67%	23,030	$887K	No change
ASUR Asure Software Inc.	0.66%	89,660	$875K	Reduce -12.9%
AAPL Apple Inc.	0.63%	4,054	$832K	No change
NVDA Nvidia Corp.	0.62%	5,223	$825K	No change
COHU Cohu Inc.	0.56%	38,800	$747K	Reduce -22.9%
EMR Emerson Electric Co.	0.54%	5,400	$720K	No change
NVGS Navigator Holdings Ltd.	0.54%	50,400	$713K	Reduce -3.6%
NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD	0.52%	50,065	$687K	Reduce -2.2%
MGNI Magnite Inc.	0.52%	28,420	$685K	Reduce -25.5%
NVS Novartis AG-Sponsored ADR	0.51%	5,610	$679K	Reduce -2.6%
SHEL Shell PLC-ADR	0.50%	9,400	$662K	Reduce -5.0%
NPKI NPK International Inc.	0.44%	68,585	$584K	Reduce -15.8%
RRC Range Resources Corp.	0.44%	14,340	$583K	No change
PAR Par Technology Corp.	0.39%	7,535	$523K	Reduce -16.1%
POWI Power Integrations Inc.	0.39%	9,200	$514K	No change
BLFS Biolife Solutions Inc.	0.38%	23,155	$499K	Reduce -23.9%
PIM Franklin Master Interm IT-Ui filed as PUTNAM MASTER INTER INCOME T	0.37%	147,613	$495K	Reduce -0.4%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS	0.37%	1,662	$490K	Reduce -34.2%
BBSI Barrett Business SVCS Inc.	0.36%	11,600	$484K	No change
WES Western Midstream Partners L	0.34%	11,600	$449K	No change
CURI Curiositystream Inc.	0.32%	76,100	$428K	Reduce -52.5%
REGN Regeneron Pharmaceuticals	0.31%	797	$418K	Reduce -11.2%
CVE Cenovus Energy Inc.	0.29%	28,800	$392K	No change
DMLP Dorchester Minerals LP	0.29%	14,025	$391K	Reduce -3.6%
SGOL Abrdn Physical Gold Shares	0.28%	11,715	$369K	Reduce -23.6%
GBDC Golub Capital BDC Inc.	0.27%	24,955	$366K	Reduce -26.3%
EPD Enterprise Products Partners	0.27%	11,427	$354K	Reduce -4.7%
FIS Fidelity National Info Serv	0.26%	4,324	$352K	No change
ORI Old Republic Intl Corp.	0.25%	8,480	$326K	No change
RSP Invesco S&P 500 Equal Weight	0.24%	1,770	$322K	Reduce -18.4%
BLDR Builders Firstsource Inc.	0.24%	2,741	$320K	No change
CYRX Cryoport Inc.	0.24%	42,770	$319K	Reduce -18.0%
KLIC Kulicke & Soffa Industries	0.22%	8,600	$298K	Reduce -54.9%
CVS CVS Health Corp.	0.22%	4,275	$295K	Reduce -5.0%
LINC Lincoln Educational Services	0.22%	12,501	$288K	Reduce -26.4%
ARCC Ares Capital Corp.	0.21%	12,740	$280K	Reduce -5.6%
WBS Webster Financial Corp.	0.21%	5,080	$277K	No change
FAF First American Financial	0.20%	4,400	$270K	Reduce -5.4%
HTGC Hercules Capital Inc.	0.20%	14,563	$266K	Reduce -41.7%
SPYM Ste STR SPDR PT S&P 500 ETF	0.19%	3,500	$254K	New
AFL Aflac Inc.	0.19%	2,350	$248K	Reduce -17.5%
JEPI JPMorgan Equity Premium Inco	0.18%	4,325	$246K	Reduce -16.0%
WLY Wiley (john) & Sons Class A	0.18%	5,500	$245K	No change
INVE Inve Technologies Inc. filed as IDENTIV INC	0.18%	73,594	$240K	Reduce -23.5%
MP MP Materials Corp.	0.18%	7,210	$240K	Reduce -63.5%
UTG Reaves Utility Income Fund	0.17%	6,075	$220K	Reduce -37.5%
BLZE Backblaze Inc. Class A	0.16%	39,825	$219K	Reduce -15.8%
JPC Nuveen Prefered & Income Opp	0.15%	25,710	$206K	No change
PBI Pitney Bowes Inc.	0.14%	17,050	$186K	Reduce -41.5%
VKQ Invesco Municipal Trust	0.14%	20,000	$183K	No change
NUV Nuveen Municipal Value	0.13%	20,000	$174K	No change
AQST Aquestive Therapeutics Inc.	0.11%	43,585	$144K	Add +93.0%
XGN Exagen Inc.	0.10%	19,910	$139K	Reduce -49.4%
F Ford Motor Co. filed as FORD MTR CO	0.09%	11,500	$125K	No change
KOPN Kopin Corp.	0.09%	76,975	$118K	Reduce -17.5%
OESX Orion Energy Systems Inc.	0.08%	179,925	$108K	Reduce -46.7%
ASPN Aspen Aerogels Inc.	0.06%	14,180	$84K	Reduce -21.9%
MIN Aberdeen Intermediate Inc. FD	0.06%	27,093	$73K	Reduce -24.5%
UAMY United States Antimony Corp.	0.03%	20,350	$44K	New
TUSK Mammoth Energy Services Inc.	0.03%	13,000	$36K	Reduce -7.1%
ONDS Ondas Inc. filed as ONDAS HLDGS INC	0.03%	18,305	$35K	New

Show all 102 holdings

Portfolio Sells Q1 2025 → Q2 2025


VRN Veren Inc.	Sold out	0.00%	−2.21
COOP Mr Cooper Group Inc.	Sold out	0.00%	−1.43
IBB iShares Biotechnology ETF	Sold out	0.00%	−0.31
T AT&T Inc.	Sold out	0.00%	−0.31
BRK.B Berkshire Hathaway Inc. Class B	Reduce -13.4%	1.13%	−0.31
TRGP Targa Resources Corp.	Reduce -2.0%	1.60%	−0.29
KLIC Kulicke & Soffa Industries	Reduce -54.9%	0.22%	−0.25
PUBM Pubmatic Inc. Class A	Sold out	0.00%	−0.24
FNF Fidelity National Financial	Reduce -3.8%	1.10%	−0.23
VMD Viemed Healthcare Inc.	Reduce -12.9%	0.94%	−0.20
BDX Becton Dickinson and Co.	Sold out	0.00%	−0.19
CVX Chevron Corp.	Sold out	0.00%	−0.19
MP MP Materials Corp.	Reduce -63.5%	0.18%	−0.18
OKE Oneok Inc.	Reduce -2.8%	0.71%	−0.18
TLT iShares 20+ Year Treasury BD	Sold out	0.00%	−0.18
HTGC Hercules Capital Inc.	Reduce -41.7%	0.20%	−0.16
COP Conocophillips	Sold out	0.00%	−0.16
VZ Verizon Communications Inc.	Reduce -8.4%	1.04%	−0.16
BLFS Biolife Solutions Inc.	Reduce -23.9%	0.38%	−0.15
VET Vermilion Energy Inc.	Reduce -0.6%	0.99%	−0.12
REGN Regeneron Pharmaceuticals	Reduce -11.2%	0.31%	−0.12
GBDC Golub Capital BDC Inc.	Reduce -26.3%	0.27%	−0.11
IBM Intl Business Machines Corp.	Reduce -34.2%	0.37%	−0.11
OESX Orion Energy Systems Inc.	Reduce -46.7%	0.08%	−0.10
USAC USA Compression Partners LP	Reduce -1.6%	0.71%	−0.10
ASUR Asure Software Inc.	Reduce -12.9%	0.66%	−0.09
UTG Reaves Utility Income Fund	Reduce -37.5%	0.17%	−0.07
SGOL Abrdn Physical Gold Shares	Reduce -23.6%	0.28%	−0.07
PBI Pitney Bowes Inc.	Reduce -41.5%	0.14%	−0.06
AFL Aflac Inc.	Reduce -17.5%	0.19%	−0.05
INVE Inve Technologies Inc.	Reduce -23.5%	0.18%	−0.05
SHEL Shell PLC-ADR	Reduce -5.0%	0.50%	−0.05
ET Energy Transfer LP	Reduce -1.4%	1.12%	−0.05
EPD Enterprise Products Partners	Reduce -4.7%	0.27%	−0.04
RSP Invesco S&P 500 Equal Weight	Reduce -18.4%	0.24%	−0.04
JEPI JPMorgan Equity Premium Inco	Reduce -16.0%	0.18%	−0.04
DMLP Dorchester Minerals LP	Reduce -3.6%	0.29%	−0.04
FAF First American Financial	Reduce -5.4%	0.20%	−0.03
SPY SS SPDR S&P 500 ETF Trust-US	Reduce -11.6%	0.89%	−0.03
ASPN Aspen Aerogels Inc.	Reduce -21.9%	0.06%	−0.02
PAR Par Technology Corp.	Reduce -16.1%	0.39%	−0.02
MIN Aberdeen Intermediate Inc. FD	Reduce -24.5%	0.06%	−0.02
ARCC Ares Capital Corp.	Reduce -5.6%	0.21%	−0.02
CVS CVS Health Corp.	Reduce -5.0%	0.22%	−0.01
BLZE Backblaze Inc. Class A	Reduce -15.8%	0.16%	−0.01
CURI Curiositystream Inc.	Reduce -52.5%	0.32%	−0.00
XGN Exagen Inc.	Reduce -49.4%	0.10%	−0.00
PIM Franklin Master Interm IT-Ui	Reduce -0.4%	0.37%	0.00
CYRX Cryoport Inc.	Reduce -18.0%	0.24%	+0.00
COHU Cohu Inc.	Reduce -22.9%	0.56%	+0.00

Portfolio Buys Q1 2025 → Q2 2025


AEHR Aehr Test Systems	Add +205.1%	1.23%	+1.00
ELVA Electrovaya Inc.	Add +69.1%	0.79%	+0.47
DAIO Data I/O Corp.	Add +29.8%	0.82%	+0.32
SPYM Ste STR SPDR PT S&P 500 ETF	New	0.19%	+0.19
PLAB Photronics Inc.	Add +15.6%	1.51%	+0.06
AQST Aquestive Therapeutics Inc.	Add +93.0%	0.11%	+0.06
UAMY United States Antimony Corp.	New	0.03%	+0.03
ONDS Ondas Inc.	New	0.03%	+0.03
CISO Ciso Global Inc.	New	0.01%	+0.01

All Filings

Quarter	Positions	13F Reported Value	Top Holdings
Q2 2026	101	$156.8M	NVO, AMZN, GOOGL, MSFT, GOOG
Q1 2026	93	$132.1M	NVO, AMZN, MSFT, GOOGL, GOOG
Q4 2025	97	$145.0M	NVO, AMZN, MSFT, GOOGL, GOOG
Q3 2025	104	$143.2M	NVO, MSFT, AMZN, MCO, GOOGL
Q2 2025Amended	102	$133.0M	NVO, MSFT, AMZN, MCO, TRI
Q1 2025	107	$132.3M	NVO, AMZN, MSFT, MCO, TRI
Q4 2024	110	$146.6M	NVO, AMZN, MSFT, MCO, GOOG
Q3 2024	104	$153.8M	NVO, MSFT, AMZN, MCO, TRI
Q2 2024	101	$163.8M	NVO, MSFT, AMZN, MCO, GOOG
Q1 2024	102	$161.3M	NVO, MSFT, AMZN, MCO, ACLS