Pennant Investors, LP

Name: Pennant Investors, LP 13F holdings, Q4 2025
Creator: Pennant Investors, LP
Published: 2026-02-17

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

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Pennant Investors, LP reported 15 stock positions worth $410.6 million. Its top holding was Echostar Class A (ECHO) at 19.4% of the portfolio, followed by Microsoft (MSFT, 9.9%) and Solstice Adv Materials (SOLS, 8.3%). Compared with Q3 2025, it opened 1 new position, added to 1 and reduced 7. The biggest buy was a new position in Solstice Adv Materials (SOLS) and the biggest sale Core Scientific (CORZ, shares −16%).

Most Recent 13F: Q2 2026
Location: Summit, NJ
CIK: 0001759176
Portfolio Value: $410.6M (Q4 2025)
SEC Filing: 0000919574-26-001198 ↗ filed Feb 17, 2026

Holdings Value

Holdings 15 stocks · $410.6M


ECHO Echostar Corp. Class A	19.40%	732,759	$79.7M	Reduce -21.8%
MSFT Microsoft Corp.	9.94%	84,400	$40.8M	Reduce -10.8%
SOLS Solstice Adv Materials Inc.	8.28%	700,000	$34.0M	New
PRM Perimeter Solutions Inc.	8.00%	1,193,000	$32.8M	Reduce -13.8%
GOOGL Alphabet Inc. Class A	7.01%	92,000	$28.8M	Reduce -14.7%
AMZN Amazon.com Inc.	6.80%	121,000	$27.9M	No change
TDG Transdigm Group Inc.	5.98%	18,471	$24.6M	No change
EXE Expand Energy Corp.	5.81%	216,200	$23.9M	No change
CORZ Core Scientific Inc.	5.46%	1,540,495	$22.4M	Reduce -15.6%
CCC CCC Intelligent Solutions Ho	5.17%	2,671,502	$21.2M	Add +225.2%
AR Antero Resources Corp.	4.45%	530,000	$18.3M	Reduce -19.9%
VRT Vertiv Holdings Co. Class A	4.30%	109,000	$17.7M	Reduce -19.9%
GEV GE Vernova Inc.	3.60%	22,600	$14.8M	No change
VMI Valmont Industries	3.25%	33,120	$13.3M	No change
QXO Qxo Inc.	2.55%	543,000	$10.5M	No change

Options reported separately and not counted above: CORZ calls ($7.3M).

Other holdings (1): bonds, preferreds, convertibles and warrants · $24K (not counted above)

Security	Class	Shares / Principal	Value	Change
GRABW Grab Holdings Ltd.-CW 26	*W EXP 99/99/999	80,000	$24K	No change

Total filed on the 13F, all lines: $410.7M.

Portfolio Sells Q3 2025 → Q4 2025


CORZ Core Scientific Inc.	Reduce -15.6%	5.46%	−3.35
MSFT Microsoft Corp.	Reduce -10.8%	9.94%	−3.24
AR Antero Resources Corp.	Reduce -19.9%	4.45%	−1.52
VRT Vertiv Holdings Co. Class A	Reduce -19.9%	4.30%	−1.22
PRM Perimeter Solutions Inc.	Reduce -13.8%	8.00%	−0.34
GOOGL Alphabet Inc. Class A	Reduce -14.7%	7.01%	−0.04
ECHO Echostar Corp. Class A	Reduce -21.8%	19.40%	+0.14

Portfolio Buys Q3 2025 → Q4 2025


SOLS Solstice Adv Materials Inc.	New	8.28%	+8.28
CCC CCC Intelligent Solutions Ho	Add +225.2%	5.17%	+3.16

Options Activity Q3 2025 → Q4 2025


CORZ Core Scientific Inc.	call	New	500,000	$7.3M

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