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Funds (13F)

Penn Capital Management Company, LLC

Backtest from 23 Aug 2013 to 2 Nov 2026 · weekly · hypothetical

Watch this strategy
Return a year
+13.1%
S&P 500 +14.1%
Last 12 months
+14.8%
S&P 500 +12.1%
Sharpe ratio
0.57
S&P 500 0.78
Biggest drop
−43.9%
S&P 500 −31.8%
$10.0k$20.0k$40.0k 2013201520172019202120232025 $56.8k$50.9k
StrategyS&P 500 $10,000 in Penn Capital Management Company, LLC from 23 Aug 2013 against the S&P 500 (total return) over the same dates, marked weekly, log scale. Hypothetical: before taxes and trading costs.

About

Copies Penn Capital Management Company, LLC's quarterly 13F holdings in the companies we cover, weighted by reported value: it buys on the first trading day after each 13F is filed (up to 45 days after the quarter) and holds until the next filing. A 13F shows long US-listed positions only, at the quarter's end, so this misses shorts, cash, bonds, non-US holdings and trading within the quarter.

Penn Capital Management Company, LLC's 13F holdings →

Key statistics

MeasureStrategyS&P 500
Return a year (compound)+13.1%+14.1%
Total return+409%+468%
Last 12 months+14.8%+12.1%
Last 3 months−3.8%—
Last month−2.5%—
This year so far+9.2%—
Volatility a year22.8%16.0%
Sharpe ratio0.570.78
Biggest drop−43.9%−31.8%
Beta to the S&P 5001.221.00
Alpha a year (t-statistic)−2.3% (−0.69)—
Share of weeks up57%—

Sharpe ratio uses returns above the 3-month Treasury bill rate. Alpha is the yearly return left after allowing for the strategy's exposure to the S&P 500 (CAPM); a t-statistic below about 2 means it cannot be told apart from luck.

Insights

CompanyWeightHeld sinceReturn since
OUST2.7%——
ACMR2.4%——
MIRM2.3%——
LGND2.1%——
TGTX1.9%——
RXO1.8%——
LGN1.8%——
PRKS1.7%——
PENN1.7%——
WOLF1.6%——
COMP1.6%——
BANC1.6%——
WTTR1.6%——
AGYS1.6%——
CSTM1.6%——
KNSA1.6%——
ABCB1.6%——
DCOM1.5%——
RHP1.4%——
WERN1.4%——
FBK1.4%——
NMRK1.4%——
HRI1.4%——
LTH1.4%——
AMRX1.4%——
HWC1.4%——
ZETA1.4%——
LUMN1.3%——
CAMT1.3%——
FWRG1.3%——
PRSU1.3%——
WFRD1.2%——
PTEN1.2%——
SEI1.2%——
RSI1.2%——
CPRI1.2%——
GPOR1.2%——
STGW1.2%——
RIG1.2%——
TATT1.1%——
ANIP1.1%——
LNTH1.1%——
LIND1.1%——
RDNT1.1%——
TEX1.1%——
CTRI1.1%——
VAC1.1%——
EZPW1.1%——
CC1.1%——
GXO1.1%——
NXST1.1%——
DCO1.0%——
BLLN1.0%——
SSRM1.0%——
CHDN1.0%——
OPRA1.0%——
BPOP1.0%——
HLF1.0%——
CALX1.0%——
AEHR1.0%——
PDFS0.9%——
GTN0.9%——
PRIM0.9%——
MC0.9%——
CHEF0.9%——
ATEC0.8%——
SSP0.8%——
CRC0.7%——
VC0.7%——
CE0.6%——
DNOW0.6%——
NOG0.6%——
NBHC0.5%——
RAIL0.2%——
MSEX0.2%——
YORW0.2%——
SGRY0.2%——
SCL0.2%——
BV0.2%——
SSYS0.2%——
ONT0.2%——
EYE0.2%——
ADUS0.2%——
RLJ0.2%——
FROG0.2%——
CVEO0.2%——
SABR0.1%——
NWN0.1%——
TTI0.1%——
RMBS0.1%——
GILT0.1%——
PKE0.1%——
AMG0.1%——
DKNG0.1%——
MTZ0.1%——
NBIX0.1%——
PNFP0.1%——
WYNN0.1%——
MOD0.1%——
DRS0.1%——
DOLE0.1%——
MDGL0.1%——
BWA0.1%——
GSM0.1%——
OMF0.1%——
NESR0.1%——
MGM0.1%——
KWR0.1%——
STC0.1%——
GWRS0.1%——
PEB0.1%——
MNRO0.1%——
SMG0.1%——
EPAC0.1%——
APA0.1%——
MBUU0.1%——
CVLG0.1%——
LFMD0.1%——
ASH0.1%——
HTLD0.1%——
LITE0.1%——
TVTX0.1%——
PVLA0.1%——
TCBX0.1%——
WYFI0.1%——
CAL0.1%——
INVX0.1%——
NRIX0.1%——
ASTH0.1%——
IA0.1%——
BSVN0.1%——
SGHC0.1%——
MAMA0.1%——
OFG0.1%——
HTZ0.1%——
NPKI0.1%——
BFST0.1%——
GENI0.1%——
SFST0.0%——
OPY0.0%——
USPH0.0%——
CRS0.0%——
DDD0.0%——
EGHT0.0%——
ELVA0.0%——
HLLY0.0%——
CBK0.0%——
PDS0.0%——
SPHR0.0%——
ACDC0.0%——

Weighted by reported value in the latest 13F, held until the next filing.

PeriodReturn a yearS&P 500SharpeS&P 500Biggest dropBetaAlpha (t)
Whole backtest23 Aug 2013 to 2 Nov 2026+13.1%+14.1%0.570.78−43.9%1.22−2.3% (−0.69)
2018 onwards5 Jan 2018 to 2 Nov 2026+11.4%+13.9%0.440.66−43.9%1.21−3.1% (−0.70)
Last three years3 Nov 2023 to 2 Nov 2026+20.7%+21.8%0.801.16−23.1%1.11−1.4% (−0.17)
Last year7 Nov 2025 to 2 Nov 2026+17.2%+14.2%0.770.84−12.3%0.94+4.0% (0.29)
DateCompanyAction
31 Jul 2026WYNNBought
31 Jul 2026WOLFBought
31 Jul 2026WGOBought
31 Jul 2026WDCBought
31 Jul 2026VCBought
31 Jul 2026VACBought
31 Jul 2026USPHBought
31 Jul 2026TERBought
31 Jul 2026SNDKBought
31 Jul 2026SGRYBought
31 Jul 2026SFSTBought
31 Jul 2026SENSBought
31 Jul 2026SABRBought
31 Jul 2026PZZABought
31 Jul 2026PVLABought
31 Jul 2026PTENBought
31 Jul 2026PRIMBought
31 Jul 2026PEBBought
31 Jul 2026PDSBought
31 Jul 2026OXMBought
31 Jul 2026ONTBought
31 Jul 2026NUAIBought
31 Jul 2026NRIXBought
31 Jul 2026NBIXBought
31 Jul 2026MGMBought

Dated at the rebalance that made the change.

DateCompanyAction
31 Jul 2026XMTRSold
31 Jul 2026VSECSold
31 Jul 2026VLNSold
31 Jul 2026UNITSold
31 Jul 2026TNCSold
31 Jul 2026SRADSold
31 Jul 2026SOCSold
31 Jul 2026SMWBSold
31 Jul 2026REALSold
31 Jul 2026RDWSold
31 Jul 2026QXOSold
31 Jul 2026PEGASold
31 Jul 2026MTRNSold
31 Jul 2026MRCYSold
31 Jul 2026MIAXSold
31 Jul 2026MEISold
31 Jul 2026LSTRSold
31 Jul 2026LAZSold
31 Jul 2026ITRISold
31 Jul 2026ITRGSold
31 Jul 2026IOSPSold
31 Jul 2026INNSold
31 Jul 2026HUNSold
31 Jul 2026HUBGSold
31 Jul 2026HROWSold

Dated at the rebalance that made the change.

Backtests are hypothetical and use today's listed companies only, which flatters results. Past performance does not predict future returns. This is research, not investment advice. How we backtest