In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Pennant Investors, LP reported 15 stock positions worth $332.4 million . Its top holding was Echostar Class A (ECHO) at 15.8% of the portfolio, followed by Amazon.com (AMZN, 11.6% ) and Transdigm (TDG, 11.1% ). Compared with Q4 2024, it opened 1 new position, added to 6 and reduced 3. The biggest buy was Transdigm (TDG, shares +37% ) and the biggest sale Antero Resources (AR, shares −29% ).
Location Summit, NJ
CIK 0001759176
Portfolio Value $332.4M (Q1 2025) Holdings 15 stocks · $332.4M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q4 2024 ECHO Echostar Corp. Class A 2,046,751 $52.4M Reduce -15.3% AMZN Amazon.com Inc. 202,500 $38.5M No change TDG Transdigm Group Inc. 26,571 $36.8M Add +37.2% AR Antero Resources Corp. 774,730 $31.3M Reduce -29.3% MSFT Microsoft Corp. 75,900 $28.5M Add +55.2% PRM Perimeter Solutions Inc. 2,470,000 $24.9M Add +8.8% GOOGL Alphabet Inc. Class A 146,700 $22.7M No change EXE Expand Energy Corp. 180,000 $20.0M No change VMI Valmont Industries 69,000 $19.7M No change GEV GE Vernova Inc. 46,000 $14.0M Reduce -23.3% VRT Vertiv Holdings Co. Class A 188,000 $13.6M Add +17.5% CORZ Core Scientific Inc. 1,335,000 $9.7M Add +111.9% CCC CCC Intelligent Solutions Ho 1,060,000 $9.6M New ASML ASML Holding NV-NY Reg SHS 9,000 $6.0M Add +109.3% IREN Iren Ltd. filed as IREN LIMITED 792,000 $4.8M No change
Options reported separately and not counted above: AR calls ($20.2M), AMZN calls ($19.0M), VRT calls ($11.6M).
Other holdings (1): bonds, preferreds, convertibles and warrants · $32K (not counted above) Security Class Shares / Principal Value Change GRABW Grab Holdings Ltd.-CW 26 *W EXP 99/99/999 80,000 $32K No change
Total filed on the 13F, all lines: $332.4M.
Portfolio Sells Q4 2024 → Q1 2025 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2024 % Of Portfolio Change To Portfolio ▲ AR Antero Resources Corp. Reduce -29.3% 9.43% −1.98 GEV GE Vernova Inc. Reduce -23.3% 4.22% −1.64 ECHO Echostar Corp. Class A Reduce -15.3% 15.75% −0.69
Portfolio Buys Q4 2024 → Q1 2025 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2024 % Of Portfolio Change To Portfolio ▼ TDG Transdigm Group Inc. Add +37.2% 11.06% +3.77 CCC CCC Intelligent Solutions Ho New 2.88% +2.88 MSFT Microsoft Corp. Add +55.2% 8.57% +2.45 ASML ASML Holding NV-NY Reg SHS Add +109.3% 1.79% +0.91 CORZ Core Scientific Inc. Add +111.9% 2.91% +0.28 PRM Perimeter Solutions Inc. Add +8.8% 7.48% −1.13 VRT Vertiv Holdings Co. Class A Add +17.5% 4.08% −1.31
Options Activity Q4 2024 → Q1 2025 Security Type Change vs Q4 2024 Underlying Shares Value ▼ AMZN Amazon.com Inc. call New 100,000 $19.0M VRT Vertiv Holdings Co. Class A call New 160,000 $11.6M
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 15 $334.9M SOLS, AMZN, MSFT, ECHO, PRM Q1 2026 16 $361.0M SOLS, ECHO, MSFT, VRT, AMZN Q4 2025 15 $410.6M ECHO, MSFT, SOLS, PRM, GOOGL Q3 2025 14 $371.7M ECHO, MSFT, CORZ, PRM, AMZN Q2 2025 15 $334.3M MSFT, ECHO, TDG, PRM, AR Q1 2025 15 $332.4M ECHO, AMZN, TDG, AR, MSFT Q4 2024 14 $336.7M ECHO, AMZN, AR, PRM, GOOGL Q3 2024 14 $336.0M ECHO, PRM, MU, AMZN, AR Q2 2024 44 $366.2M MU, AMZN, TDG, ECHO, MSFT Q1 2024 42 $361.7M AMZN, TDG, MSFT, MU, AR