In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Pennant Investors, LP reported 14 stock positions worth $371.7 million . Its top holding was Echostar Class A (ECHO) at 19.3% of the portfolio, followed by Microsoft (MSFT, 13.2% ) and Core Scientific (CORZ, 8.8% ). Compared with Q2 2025, it sold out of 1, added to 3 and reduced 10. The biggest buy was Alphabet Class A (GOOGL, shares +100% ) and the biggest sale Antero Resources (AR, shares −7% ).
Location Summit, NJ
CIK 0001759176
Portfolio Value $371.7M (Q3 2025) Holdings 14 stocks · $371.7M 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 Q2 2025 ECHO Echostar Corp. Class A 937,249 $71.6M Reduce -36.0% MSFT Microsoft Corp. 94,600 $49.0M No change CORZ Core Scientific Inc. 1,825,495 $32.7M Add +21.8% PRM Perimeter Solutions Inc. 1,384,000 $31.0M Reduce -34.2% AMZN Amazon.com Inc. 121,000 $26.6M Reduce -6.9% GOOGL Alphabet Inc. Class A 107,900 $26.2M Add +100.2% TDG Transdigm Group Inc. 18,471 $24.3M Reduce -7.0% EXE Expand Energy Corp. 216,200 $23.0M Add +58.7% AR Antero Resources Corp. 661,230 $22.2M Reduce -6.8% VRT Vertiv Holdings Co. Class A 136,000 $20.5M Reduce -25.7% GEV GE Vernova Inc. 22,600 $13.9M Reduce -35.2% VMI Valmont Industries 33,120 $12.8M Reduce -6.5% QXO Qxo Inc. 543,000 $10.3M Reduce -7.2% CCC CCC Intelligent Solutions Ho 821,502 $7.5M Reduce -6.8%
Other holdings (1): bonds, preferreds, convertibles and warrants · $40K (not counted above) Security Class Shares / Principal Value Change GRABW Grab Holdings Ltd.-CW 26 *W EXP 99/99/999 80,000 $40K No change
Total filed on the 13F, all lines: $371.7M.
Portfolio Sells Q2 2025 → Q3 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 Q2 2025 % Of Portfolio Change To Portfolio ▲ AR Antero Resources Corp. Reduce -6.8% 5.97% −2.58 TDG Transdigm Group Inc. Reduce -7.0% 6.55% −2.49 GEV GE Vernova Inc. Reduce -35.2% 3.74% −1.79 VRT Vertiv Holdings Co. Class A Reduce -25.7% 5.52% −1.51 ASML ASML Holding NV-NY Reg SHS Sold out 0.00% −1.39 AMZN Amazon.com Inc. Reduce -6.9% 7.15% −1.38 QXO Qxo Inc. Reduce -7.2% 2.78% −0.99 CCC CCC Intelligent Solutions Ho Reduce -6.8% 2.01% −0.47 PRM Perimeter Solutions Inc. Reduce -34.2% 8.34% −0.42 VMI Valmont Industries Reduce -6.5% 3.45% −0.01 ECHO Echostar Corp. Class A Reduce -36.0% 19.25% +7.12
Portfolio Buys Q2 2025 → Q3 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 Q2 2025 % Of Portfolio Change To Portfolio ▼ GOOGL Alphabet Inc. Class A Add +100.2% 7.06% +4.22 EXE Expand Energy Corp. Add +58.7% 6.18% +1.41 CORZ Core Scientific Inc. Add +21.8% 8.81% +1.16
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