Penn Mutual Asset Management

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 8, 2026), Penn Mutual Asset Management reported 8 stock positions worth $12.6 million. Its top holding was Annaly Capital Management (NLY) at 29.8% of the portfolio, followed by AGNC Investment (AGNC, 28.7%) and Armour Residential REIT (ARR, 23.1%). Compared with Q4 2025, it sold out of 3 and reduced 1. The biggest sale was an exit from Ishr Ibx Usd Invgd CB ETF-Ui (LQD).

Most Recent 13F
Q2 2026
Location
Conshohocken, PA
CIK
0000855702
Portfolio Value
$12.6M (Q1 2026)
SEC Filing
0001193125-26-214271 ↗ filed May 8, 2026

Holdings Value

0$50.0M$100.0M$150.0M$200.0M Q1 2024: $30.7M Q1 2024 Q2 2024: $30.3M Q2 2024 Q3 2024: $35.1M Q3 2024 Q4 2024: $38.6M Q4 2024 Q1 2025: $39.5M Q1 2025 Q2 2025: $45.1M Q2 2025 Q3 2025: $40.9M Q3 2025 Q4 2025: $160.0M Q4 2025 Q1 2026: $12.6M $12.6M Q1 2026 Q2 2026: $12.5M Q2 2026

Holdings 8 stocks · $12.6M
NLY Annaly Capital Management Inc. 29.83% 177,588 $3.8M No change
AGNC AGNC Investment Corp. 28.68% 360,000 $3.6M No change
ARR Armour Residential REIT Inc. 23.06% 174,050 $2.9M No change
RBRK Rubrik Inc. Class A 6.41% 16,472 $807K No change
PHAT Phathom Pharmaceuticals Inc. 5.54% 62,802 $698K No change
EMLC Vaneck JPM Em Local Curr BND 3.59% 18,000 $452K No change
NOW ServiceNow Inc. 1.99% 2,392 $250K Reduce -55.0%
TTAN Servicetitan Inc. Class A 0.90% 1,787 $113K No change
Other holdings (1): bonds, preferreds, convertibles and warrants · $6.9M (not counted above)
SecurityClassShares / PrincipalValueChange
WELLS FARGO & COMPANY (WFC 7.5 PERP L) PERP PFD CNV A 6,000$6.9MNo change

Total filed on the 13F, all lines: $19.5M.

Portfolio Sells Q4 2025 → Q1 2026
LQD Ishr Ibx Usd Invgd CB ETF-Ui Sold out 0.00% −88.85
PFF iShares Preferred & Income S Sold out 0.00% −1.88
BRZE Braze Inc. Class A Sold out 0.00% −0.09
NOW ServiceNow Inc. Reduce -55.0% 1.99% +1.48

Portfolio Buys Q4 2025 → Q1 2026
None this quarter.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 8$12.5MNLY, AGNC, ARR, PHAT, EMLC
Q1 2026 8$12.6MNLY, AGNC, ARR, RBRK, PHAT
Q4 2025 11$160.0MLQD, NLY, AGNC, ARR, PFF
Q3 2025 59$40.9MNLY, AGNC, PFF, ARR, PKE
Q2 2025 63$45.1MRBRK, NLY, AGNC, PFF, ARR
Q1 2025 57$39.5MNLY, AGNC, PFF, ARR, RBRK
Q4 2024 56$38.6MAGNC, ARR, NLY, PFF, AES
Q3 2024 49$35.1MAGNC, NLY, ARR, PFF, CMTL
Q2 2024 53$30.3MAGNC, NLY, ARR, PFF, PHAT
Q1 2024 52$30.7MAGNC, NLY, ARR, PFF, UTMD