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Asset manager

Penn Capital Management Company, LLC

13F for the quarter to June 30, 2026, filed July 30, 2026 · SEC CIK 1158202

Reported value
$1.6bn
96% in companies we cover
Positions we cover
177
Largest OUST 2.6%
Copy, a year
+13.1%
S&P 500 +14.1%
Copy Sharpe ratio
0.57
S&P 500 0.78

How copying its 13F would have done

$10.0k$20.0k$40.0k 2013201520172019202120232025 $56.8k$50.9k
CopyS&P 500 $10,000 copying Penn Capital Management Company, LLC's filed holdings in companies we cover from August 23, 2013, buying on the first trading day after each 13F was filed and holding until the next, against the S&P 500 (total return). Marked weekly, log scale. Before costs and taxes; misses trading within each quarter and anything 13F does not show (shorts, cash, bonds, non-US holdings).

Biggest drop −43.9% (S&P 500 −31.8%); beta 1.22; alpha −2.3% a year (t = −0.69); last 12 months +14.8% against +12.1%.

Reported value by quarter

Penn Capital Management Company, LLC: 13F reported value Total value of all positions in each quarter's 13F, as filed (values before 2023 were filed in thousands of dollars and are converted).
$0 $500B $1T Reported value, 2013-06-30: $2.4B Reported value, 2013-09-30: $2.3B Reported value, 2013-12-31: $2.7B Reported value, 2014-03-31: $2.6B Reported value, 2014-06-30: $2.5B Reported value, 2014-09-30: $2.3B Reported value, 2014-12-31: $2.2B Reported value, 2015-03-31: $2.4B Reported value, 2015-06-30: $2.3B Reported value, 2015-09-30: $1.8B Reported value, 2015-12-31: $1.9B Reported value, 2016-03-31: $1.7B Reported value, 2016-06-30: $1.7B Reported value, 2016-09-30: $1.4B Reported value, 2016-12-31: $1.6B Reported value, 2017-03-31: $1.4B Reported value, 2017-06-30: $1.3B Reported value, 2017-09-30: $1.3B Reported value, 2017-12-31: $1.4B Reported value, 2018-03-31: $1.2B Reported value, 2018-06-30: $1.3B Reported value, 2018-09-30: $1.3B Reported value, 2018-12-31: $1B Reported value, 2019-03-31: $1B Reported value, 2019-06-30: $1B Reported value, 2019-09-30: $955.5M Reported value, 2019-12-31: $936.7M Reported value, 2020-03-31: $597.3M Reported value, 2020-06-30: $755.9M Reported value, 2020-09-30: $780.8M Reported value, 2020-12-31: $783.8M Reported value, 2021-03-31: $951.2M Reported value, 2021-06-30: $1B Reported value, 2021-09-30: $982.8M Reported value, 2021-12-31: $988.7M Reported value, 2022-03-31: $968.5M Reported value, 2022-06-30: $921.7M Reported value, 2022-09-30: $889.4M Reported value, 2022-12-31: $978.9B Reported value, 2023-03-31: $993.8M Reported value, 2023-06-30: $1B Reported value, 2023-09-30: $975.9M Reported value, 2023-12-31: $1.1B Reported value, 2024-03-31: $1.1B Reported value, 2024-06-30: $1B Reported value, 2024-09-30: $1.1B Reported value, 2024-12-31: $1B Reported value, 2025-03-31: $1B Reported value, 2025-06-30: $1.2B Reported value, 2025-09-30: $1.3B Reported value, 2025-12-31: $1.3B Reported value, 2026-03-31: $1.3B Reported value, 2026-06-30: $1.6B 2013-06-30 2016-03-31 2018-12-31 2021-09-30 2026-06-30 $1.6B
View chart data
Period Reported value
2013-06-30 $2.4B
2013-09-30 $2.3B
2013-12-31 $2.7B
2014-03-31 $2.6B
2014-06-30 $2.5B
2014-09-30 $2.3B
2014-12-31 $2.2B
2015-03-31 $2.4B
2015-06-30 $2.3B
2015-09-30 $1.8B
2015-12-31 $1.9B
2016-03-31 $1.7B
2016-06-30 $1.7B
2016-09-30 $1.4B
2016-12-31 $1.6B
2017-03-31 $1.4B
2017-06-30 $1.3B
2017-09-30 $1.3B
2017-12-31 $1.4B
2018-03-31 $1.2B
2018-06-30 $1.3B
2018-09-30 $1.3B
2018-12-31 $1B
2019-03-31 $1B
2019-06-30 $1B
2019-09-30 $955.5M
2019-12-31 $936.7M
2020-03-31 $597.3M
2020-06-30 $755.9M
2020-09-30 $780.8M
2020-12-31 $783.8M
2021-03-31 $951.2M
2021-06-30 $1B
2021-09-30 $982.8M
2021-12-31 $988.7M
2022-03-31 $968.5M
2022-06-30 $921.7M
2022-09-30 $889.4M
2022-12-31 $978.9B
2023-03-31 $993.8M
2023-06-30 $1B
2023-09-30 $975.9M
2023-12-31 $1.1B
2024-03-31 $1.1B
2024-06-30 $1B
2024-09-30 $1.1B
2024-12-31 $1B
2025-03-31 $1B
2025-06-30 $1.2B
2025-09-30 $1.3B
2025-12-31 $1.3B
2026-03-31 $1.3B
2026-06-30 $1.6B

Holdings and moves

CompanyShare of portfolioValueSharesChange in shares
OUSTOuster, Inc.2.61%$41.1m656.1K−32.3% Reduced
ACMRACM Research, Inc.2.31%$36.3m285.8K−28.2% Reduced
MIRMMirum Pharmaceuticals, Inc.2.22%$35.1m298.9K+16.4% Added
LGNDLigand Pharmaceuticals Inc2.01%$31.7m100.3K+5.1% Added
TGTXTG Therapeutics, Inc.1.87%$29.5m536.1K−1.1% Reduced
RXORXO, Inc.1.71%$27.0m975.0K−27.6% Reduced
LGNLegence Corp.1.69%$26.6m311.8K−12.5% Reduced
PRKSUnited Parks & Resorts Inc.1.62%$25.5m533.6K+17.8% Added
PENNPenn Entertainment, Inc.1.61%$25.4m1.19M+6.2% Added
WOLFWolfspeed, Inc.1.58%$24.8m514.0KNew
COMPCompass, Inc.1.57%$24.8m2.00MNew
BANCBanc Of California, Inc.1.56%$24.5m1.20M−1.1% Reduced
WTTRSelect Water Solutions, Inc.1.55%$24.5m1.22M−16.2% Reduced
AGYSAgilysys Inc1.53%$24.2m231.2K+18.9% Added
CSTMConstellium SE1.52%$23.9m749.6K−11.3% Reduced
KNSAKiniksa Pharmaceuticals International, plc1.50%$23.6m368.1K+21.9% Added
ABCBAmeris Bancorp1.49%$23.5m260.1K−1.1% Reduced
DCOMDime Commercial Bancshares, Inc.1.45%$22.9m562.5K−7.7% Reduced
RHPRyman Hospitality Properties, Inc.1.38%$21.7m168.3K+15.2% Added
WERNWerner Enterprises Inc1.36%$21.5m491.5K+10.8% Added
FBKFB Financial Corp1.36%$21.5m387.3K+21.2% Added
NMRKNewmark Group, Inc.1.34%$21.1m1.40M+20.9% Added
HRIHerc Holdings Inc1.34%$21.1m146.7KNew
LTHLife Time Group Holdings, Inc.1.34%$21.1m514.8K−8.1% Reduced
AMRXAmneal Pharmaceuticals, Inc.1.30%$20.5m1.18M−1.2% Reduced
HWCHancock Whitney Corp1.29%$20.4m272.5K+44.6% Added
ZETAZeta Global Holdings Corp.1.29%$20.4m1.03M+23.9% Added
LUMNLumen Technologies, Inc.1.24%$19.6m2.55M−5.9% Reduced
CAMTCamtek LTD1.21%$19.1m117.0K+55.4% Added
FWRGFirst Watch Restaurant Group, Inc.1.21%$19.0m1.47M+29.1% Added
PRSUPursuit Attractions & Hospitality, Inc.1.20%$18.9m337.0K−8.5% Reduced
WFRDWeatherford International plc1.18%$18.5m227.0K−4.6% Reduced
PTENPatterson UTI Energy Inc1.16%$18.3m1.99MNew
SEISolaris Energy Infrastructure, Inc.1.15%$18.1m224.5K−20.0% Reduced
RSIRush Street Interactive, Inc.1.12%$17.7m595.3K−19.9% Reduced
CPRICapri Holdings Ltd1.12%$17.7m951.4K+7.2% Added
GPORGulfport Energy Corp1.12%$17.6m103.6K−7.0% Reduced
STGWStagwell Inc1.11%$17.6m2.36M+9.3% Added
RIGTransocean Ltd.1.11%$17.5m3.57M+13.1% Added
TATTTAT Technologies LTD1.09%$17.3m357.4K+23.0% Added
ANIPANI Pharmaceuticals Inc1.09%$17.2m207.4K+15.4% Added
LNTHLantheus Holdings, Inc.1.08%$17.1m153.9KNew
LINDLindblad Expeditions Holdings, Inc.1.07%$16.8m595.1K−28.9% Reduced
RDNTRadnet, Inc.1.06%$16.8m271.4K−2.0% Reduced
TEXTerex Corp1.06%$16.7m231.0K+105.7% Added
CTRICenturi Holdings, Inc.1.05%$16.6m548.9K+24.0% Added
VACMarriott Vacations Worldwide Corp1.05%$16.6m162.7KNew
EZPWEzcorp Inc1.04%$16.4m474.7K−17.1% Reduced
CCChemours Co1.03%$16.3m790.6K−19.4% Reduced
GXOGXO Logistics, Inc.1.02%$16.1m316.6K+8.6% Added
NXSTNexstar Media Group, Inc.1.01%$15.9m88.7K−1.5% Reduced
DCODucommun Inc1.00%$15.8m84.9K+591.6% Added
BLLNBilliontoone, Inc.0.99%$15.5m129.6K+2.6% Added
SSRMSSR Mining Inc.0.98%$15.5m548.4K−11.1% Reduced
CHDNChurchill Downs Inc0.98%$15.4m171.7KNew
OPRAOpera Ltd0.96%$15.2m765.8K+40.6% Added
BPOPPopular, Inc.0.96%$15.1m92.0K−18.0% Reduced
HLFHerbalife LTD.0.96%$15.1m1.15M+66.5% Added
CALXCalix, Inc0.92%$14.5m388.2K+2.6% Added
AEHRAehr Test Systems0.92%$14.5m150.5KNew
PDFSPDF Solutions Inc0.91%$14.4m203.1K+916.9% Added
GTNGray Media, Inc0.88%$13.9m3.50M−3.1% Reduced
PRIMPrimoris Services Corp0.88%$13.8m139.0KNew
MCMoelis & Co0.87%$13.8m210.1KNew
CHEFChefs' Warehouse, Inc.0.84%$13.3m137.8K−48.8% Reduced
ATECAlphatec Holdings, Inc.0.82%$12.9m1.49M+6.5% Added
SSPE.w. Scripps Co0.81%$12.8m4.63M+6.3% Added
CRCCalifornia Resources Corp0.71%$11.2m211.1K−7.5% Reduced
VCVisteon Corp0.68%$10.7m108.0KNew
CECelanese Corp0.59%$9.3m200.8K−25.9% Reduced
DNOWDnow Inc.0.55%$8.7m669.8K−43.1% Reduced
NOGNorthern OIL & GAS, Inc.0.53%$8.4m462.5K−17.5% Reduced
NBHCNational Bank Holdings Corp0.46%$7.2m162.4K+1761.8% Added
RAILFreightcar America, Inc.0.21%$3.3m339.2K+134.7% Added
MSEXMiddlesex Water Co0.19%$3.0m54.3K+1.3% Added
YORWYork Water Co0.19%$3.0m97.8K+9.5% Added
SGRYSurgery Partners, Inc.0.19%$2.9m175.1KNew
SCLStepan Co0.18%$2.9m51.6K+30.0% Added
BVBrightview Holdings, Inc.0.18%$2.9m202.7K−12.5% Reduced
SSYSStratasys LTD.0.18%$2.9m333.5K+1.9% Added
ONTOnterris, Inc.0.18%$2.8m138.7KNew
EYENational Vision Holdings, Inc.0.18%$2.8m146.3KNew
ADUSAddus Homecare Corp0.17%$2.6m25.8KNew
RLJRLJ Lodging Trust0.15%$2.4m205.2K−4.6% Reduced
FROGJfrog Ltd0.15%$2.4m26.4KNew
CVEOCiveo Corp0.15%$2.4m67.6KNew
SABRSabre Corp0.14%$2.3m1.09MNew
NWNNorthwest Natural Holding Co0.14%$2.1m43.4K+224.5% Added
TTITetra Technologies Inc0.13%$2.0m180.9K+62.4% Added
RMBSRambus Inc0.12%$1.9m14.2K+14.8% Added
GILTGilat Satellite Networks LTD0.12%$1.9m139.3K+292.6% Added
PKEPark Aerospace Corp0.12%$1.9m48.5K−60.1% Reduced
AMGAffiliated Managers Group, Inc.0.12%$1.8m5.4K+20.0% Added
DKNGDraftkings Inc.0.12%$1.8m72.0K+79.0% Added
MTZMastec Inc0.12%$1.8m4.3K−34.4% Reduced
NBIXNeurocrine Biosciences Inc0.12%$1.8m10.6KNew
PNFPPinnacle Financial Partners, Inc.0.11%$1.8m17.2K+38.8% Added
WYNNWynn Resorts0.11%$1.8m17.9KNew
MODModine Manufacturing Co0.11%$1.7m6.2K−91.7% Reduced
DRSLeonardo DRS, Inc.0.10%$1.6m36.4K−2.3% Reduced
DOLEDole plc0.10%$1.5m112.0KNew
MDGLMadrigal Pharmaceuticals, Inc.0.10%$1.5m2.8K−19.9% Reduced
BWABorgwarner Inc0.10%$1.5m22.6KNew
GSMFerroglobe PLC0.10%$1.5m475.7KNew
OMFOnemain Holdings, Inc.0.10%$1.5m24.4K+22.0% Added
NESRNational Energy Services Reunited Corp.0.09%$1.5m49.1K−32.1% Reduced
MGMMGM Resorts0.09%$1.5m30.2KNew
KWRQuaker Chemical Corp0.09%$1.5m9.1K−46.8% Reduced
STCStewart Information Services Corp0.08%$1.3m19.8K−52.5% Reduced
GWRSGlobal Water Resources, Inc.0.08%$1.3m177.2K−0.2%
PEBPebblebrook Hotel Trust0.07%$1.2m60.9KNew
MNROMonro, Inc.0.07%$1.1m62.6K+31.9% Added
SMGScotts Miracle-gro Co0.07%$1.0m15.1K+63.1% Added
EPACEnerpac Tool Group Corp0.06%$1.0m28.2KNew
APAAPA Corporation0.06%$1.0m30.7K−28.7% Reduced
MBUUMalibu Boats, Inc.0.06%$932,97734.0KNew
CVLGCovenant Logistics Group, Inc.0.06%$928,35421.0K−54.6% Reduced
LFMDLifemd, Inc.0.06%$926,091224.2KNew
ASHAshland Inc.0.06%$918,96813.9K−70.7% Reduced
HTLDHeartland Express Inc0.06%$887,05258.3K+0.9% Added
LITELumentum0.06%$878,2751.0K−65.2% Reduced
TVTXTravere Therapeutics, Inc.0.05%$850,33215.0K+18.1% Added
PVLAPalvella Therapeutics, Inc.0.05%$841,4275.5KNew
TCBXThird Coast Bancshares, Inc.0.05%$840,80520.8K+10.0% Added
WYFIWhitefiber, Inc.0.05%$820,78421.1K−46.7% Reduced
CALCaleres Inc0.05%$812,23965.7KNew
INVXInnovex International, Inc.0.05%$806,64532.5K−40.3% Reduced
NRIXNurix Therapeutics, Inc.0.05%$800,16833.0KNew
ASTHAstrana Health, Inc.0.05%$797,18517.2KNew
IAInnovative Solutions & Support Inc0.05%$781,16443.4KNew
BSVNBank7 Corp.0.05%$780,60615.9K−15.8% Reduced
SGHCSuper Group (sghc) Ltd0.05%$764,39656.4K−0.2%
MAMAMama's Creations, Inc.0.05%$754,64442.3K+26.4% Added
OFGOFG Bancorp0.05%$744,19615.2K−19.6% Reduced
HTZHertz Global Holdings, Inc0.05%$729,629322.1KNew
NPKINPK International Inc.0.04%$690,93943.4K−9.3% Reduced
BFSTBusiness First Bancshares, Inc.0.04%$687,55322.4K−10.1% Reduced
GENIGenius Sports Ltd0.04%$682,350112.6KNew
SFSTSouthern First Bancshares Inc0.04%$676,98811.1KNew
OPYOppenheimer Holdings Inc0.04%$662,3696.3K−8.3% Reduced
USPHU S Physical Therapy Inc0.04%$647,7219.4KNew
CRSCarpenter Technology Corp0.04%$645,7051.0K−74.0% Reduced
DDD3d Systems Corp0.04%$644,990213.6K−75.4% Reduced
EGHT8x8 Inc0.04%$638,719373.5KNew
ELVAElectrovaya Inc.0.04%$634,44260.4K+116.8% Added
HLLYHolley Inc.0.04%$628,218246.4KNew
CBKCommercial Bancgroup, Inc.0.04%$625,71619.4K−21.1% Reduced
PDSPrecision Drilling Corp0.04%$624,5498.1KNew
SPHRSphere Entertainment Co.0.04%$620,1403.6K−41.1% Reduced
ACDCProfrac Holding Corp.0.04%$603,421103.9KNew
CompanyBought (value)Shares
WOLFWolfspeed, Inc.$24.8m514.0K
COMPCompass, Inc.$24.8m2.00M
HRIHerc Holdings Inc$21.1m146.7K
PTENPatterson UTI Energy Inc$18.3m1.99M
LNTHLantheus Holdings, Inc.$17.1m153.9K
VACMarriott Vacations Worldwide Corp$16.6m162.7K
CHDNChurchill Downs Inc$15.4m171.7K
AEHRAehr Test Systems$14.5m150.5K
PRIMPrimoris Services Corp$13.8m139.0K
MCMoelis & Co$13.8m210.1K
DCODucommun Inc$13.5m72.6K
PDFSPDF Solutions Inc$13.0m183.2K
VCVisteon Corp$10.7m108.0K
TEXTerex Corp$8.6m118.7K
NBHCNational Bank Holdings Corp$6.8m153.7K

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

CompanySold (value)Shares
CZRCaesars Entertainment, Inc.−$23.7m−895.5K
OUSTOuster, Inc.−$19.6m−313.5K
MODModine Manufacturing Co−$18.4m−68.3K
AMTMAmentum Holdings, Inc.−$18.2m−694.4K
DYDycom Industries Inc−$15.1m−44.5K
AAOIApplied Optoelectronics, Inc.−$14.9m−176.5K
HROWHarrow, Inc.−$14.4m−407.9K
ACMRACM Research, Inc.−$14.2m−112.0K
BYDBoyd Gaming Corp−$12.8m−155.8K
CHEFChefs' Warehouse, Inc.−$12.7m−131.4K
VSECVSE Corp−$12.4m−66.9K
LAZLazard, Inc.−$11.3m−264.9K
ITRIItron, Inc.−$10.8m−119.8K
UNITUniti Group Inc.−$10.7m−1.14M
MIAXMiami International Holdings, Inc.−$10.7m−273.8K

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

CompanyValue last quarterShares
CZRCaesars Entertainment, Inc.$23.7m895.5K
AMTMAmentum Holdings, Inc.$18.2m694.4K
DYDycom Industries Inc$15.1m44.5K
AAOIApplied Optoelectronics, Inc.$14.9m176.5K
HROWHarrow, Inc.$14.4m407.9K
BYDBoyd Gaming Corp$12.8m155.8K
VSECVSE Corp$12.4m66.9K
LAZLazard, Inc.$11.3m264.9K
ITRIItron, Inc.$10.8m119.8K
UNITUniti Group Inc.$10.7m1.14M
MIAXMiami International Holdings, Inc.$10.7m273.8K
MRCYMercury Systems Inc$9.3m127.8K
ARQTArcutis Biotherapeutics, Inc.$7.9m333.1K
IOSPInnospec Inc.$2.4m33.3K
TNCTennant Co$2.0m29.7K
REALTherealreal, Inc.$1.9m206.4K
CWHCamping World Holdings, Inc.$1.8m266.3K
SRADSportradar Group AG$1.6m94.1K
MEIMethode Electronics Inc$1.5m268.0K
INNSummit Hotel Properties, Inc.$1.4m311.2K
DSGRDistribution Solutions Group, Inc.$1.1m43.4K
HLITHarmonic Inc.$1.0m116.4K
CELHCelsius Holdings, Inc.$951,09626.3K
SMWBSimilarweb LTD.$940,555360.4K
XMTRXometry, Inc.$898,53821.8K
PEGAPegasystems Inc$889,08020.5K
QXOQXO, Inc.$884,83044.7K
CRNTCeragon Networks LTD$859,941398.1K
LSTRLandstar System Inc$746,4034.7K
BHRBraemar Hotels & Resorts Inc.$594,781252.0K
  • Health Care15.6%
  • Technology14.9%
  • Industrials14.8%
  • Consumer Discretionary14.8%
  • Financials11.8%
  • Energy9.4%
  • Communication Services6.4%
  • Materials4.9%
  • Real Estate4.7%
  • Consumer Staples2.0%
  • Utilities0.6%

Share of the value held in companies we cover, by sector.

PeriodCopy, a yearS&P 500SharpeS&P 500Biggest dropBeta
Whole backtestAugust 23, 2013 to November 2, 2026+13.1%+14.1%0.570.78−43.9%1.22
2018 onwardsJanuary 5, 2018 to November 2, 2026+11.4%+13.9%0.440.66−43.9%1.21
Last three yearsNovember 3, 2023 to November 2, 2026+20.7%+21.8%0.801.16−23.1%1.11
Last yearNovember 7, 2025 to November 2, 2026+17.2%+14.2%0.770.84−12.3%0.94

From SEC Form 13F data sets. A 13F lists long positions in US-listed shares at the quarter's end, filed up to 45 days later; it does not show shorts, cash, bonds, non-US holdings or trades within the quarter. Positions in companies outside our coverage are not listed here. Research, not investment advice.