# Penbrook Management LLC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1381055. Source: https://holderbook.com/funds/1381055-penbrook-management-llc/

- Reported value: $156.8M
- Positions: 101
- Weight of the ten largest: 45.1%
- Filed: 2026-07-23

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| NOVO-NORDISK A S | [NVO](https://holderbook.com/stocks/NVO/) | $15.2M | 316,200 | 9.7% | 31 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $12.3M | 51,760 | 7.9% | 31 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $8.3M | 23,170 | 5.3% | 31 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $8.2M | 21,920 | 5.2% | 31 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $8.0M | 22,554 | 5.1% | 31 |
| MOODYS CORP | [MCO](https://holderbook.com/stocks/MCO/) | $6.2M | 13,600 | 3.9% | 31 |
| ELECTROVAYA INC | [ELVA](https://holderbook.com/stocks/ELVA/) | $3.4M | 326,231 | 2.2% | 7 |
| CRYOPORT INC | [CYRX](https://holderbook.com/stocks/CYRX/) | $3.2M | 202,675 | 2.0% | 31 |
| VIEMED HEALTHCARE INC | [VMD](https://holderbook.com/stocks/VMD/) | $3.2M | 277,178 | 2.0% | 14 |
| MARVELL TECHNOLOGY INC | [MRVL](https://holderbook.com/stocks/MRVL/) | $2.9M | 9,730 | 1.8% | 4 |
| PHOTRONICS INC | [PLAB](https://holderbook.com/stocks/PLAB/) | $2.9M | 89,055 | 1.8% | 31 |
| SEABRIDGE GOLD INC | - | $2.9M | 110,915 | 1.8% | 1 |
| EXTREME NETWORKS INC | [EXTR](https://holderbook.com/stocks/EXTR/) | $2.7M | 84,025 | 1.7% | 2 |
| PLANET LABS PBC | [PL](https://holderbook.com/stocks/PL/) | $2.7M | 81,817 | 1.7% | 13 |
| PROTHENA CORP PLC | [PRTA](https://holderbook.com/stocks/PRTA/) | $2.7M | 271,720 | 1.7% | 2 |
| ALKAMI TECHNOLOGY INC | [ALKT](https://holderbook.com/stocks/ALKT/) | $2.5M | 140,585 | 1.6% | 12 |
| ALLOT LTD | [ALLT](https://holderbook.com/stocks/ALLT/) | $2.4M | 275,295 | 1.6% | 1 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $2.2M | 18,350 | 1.4% | 31 |
| BLACKSTONE INC | [BX](https://holderbook.com/stocks/BX/) | $2.1M | 18,150 | 1.4% | 29 |
| MAGNITE INC | [MGNI](https://holderbook.com/stocks/MGNI/) | $2.1M | 112,040 | 1.4% | 8 |
| AXCELIS TECHNOLOGIES INC | [ACLS](https://holderbook.com/stocks/ACLS/) | $2.1M | 10,895 | 1.3% | 31 |
| CURIOSITYSTREAM INC | [CURI](https://holderbook.com/stocks/CURI/) | $2.0M | 764,800 | 1.3% | 7 |
| THOMSON REUTERS CORP | [TRI](https://holderbook.com/stocks/TRI/) | $2.0M | 24,381 | 1.3% | 1 |
| NUVEEN N Y MUN VALUE FD | [NNY](https://holderbook.com/stocks/NNY/) | $1.9M | 213,727 | 1.2% | 31 |
| VERMILION ENERGY INC | [VET](https://holderbook.com/stocks/VET/) | $1.9M | 197,825 | 1.2% | 31 |
| TARGA RES CORP | [TRGP](https://holderbook.com/stocks/TRGP/) | $1.8M | 6,892 | 1.2% | 31 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $1.6M | 3,290 | 1.1% | 31 |
| BAYTEX ENERGY CORP | [BTE](https://holderbook.com/stocks/BTE/) | $1.6M | 399,350 | 1.0% | 1 |
| ENERGY TRANSFER L P | [ET](https://holderbook.com/stocks/ET/) | $1.4M | 74,489 | 0.9% | 21 |
| WILLIAMS COS INC | [WMB](https://holderbook.com/stocks/WMB/) | $1.4M | 19,130 | 0.9% | 31 |
| AUTOMATIC DATA PROCESSING IN | [ADP](https://holderbook.com/stocks/ADP/) | $1.4M | 6,300 | 0.9% | 31 |
| DATA I O CORP | [DAIO](https://holderbook.com/stocks/DAIO/) | $1.4M | 355,850 | 0.9% | 31 |
| SONY GROUP CORP | [SONY](https://holderbook.com/stocks/SONY/) | $1.4M | 68,500 | 0.9% | 31 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $1.3M | 5,152 | 0.8% | 31 |
| VERIZON COMMUNICATIONS INC | [VZ](https://holderbook.com/stocks/VZ/) | $1.3M | 30,424 | 0.8% | 31 |
| AIRBNB INC | [ABNB](https://holderbook.com/stocks/ABNB/) | $1.3M | 8,950 | 0.8% | 17 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $1.2M | 1,605 | 0.8% | 31 |
| MESOBLAST LTD | [MESO](https://holderbook.com/stocks/MESO/) | $1.2M | 87,075 | 0.8% | 11 |
| HESS MIDSTREAM LP | [HESM](https://holderbook.com/stocks/HESM/) | $1.1M | 30,055 | 0.7% | 27 |
| BIOLIFE SOLUTIONS INC | [BLFS](https://holderbook.com/stocks/BLFS/) | $1.1M | 39,705 | 0.7% | 29 |
| DOUBLEVERIFY HLDGS INC | [DV](https://holderbook.com/stocks/DV/) | $1.1M | 102,660 | 0.7% | 3 |
| USA COMPRESSION PARTNERS LP | [USAC](https://holderbook.com/stocks/USAC/) | $1.1M | 41,038 | 0.7% | 29 |
| NPK INTERNATIONAL INC | [NPKI](https://holderbook.com/stocks/NPKI/) | $1.1M | 67,825 | 0.7% | 11 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $1.1M | 5,323 | 0.7% | 6 |
| ONEOK INC NEW | [OKE](https://holderbook.com/stocks/OKE/) | $983.3K | 11,310 | 0.6% | 31 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $957.6K | 1,700 | 0.6% | 31 |
| KULICKE & SOFFA INDS INC | [KLIC](https://holderbook.com/stocks/KLIC/) | $949.7K | 7,100 | 0.6% | 19 |
| PAR TECHNOLOGY CORP | [PAR](https://holderbook.com/stocks/PAR/) | $936.5K | 53,760 | 0.6% | 9 |
| POPULAR INC | [BPOP](https://holderbook.com/stocks/BPOP/) | $870.2K | 5,300 | 0.6% | 31 |
| NOVARTIS AG | [NVS](https://holderbook.com/stocks/NVS/) | $868.2K | 5,540 | 0.6% | 31 |
| BACKBLAZE INC | [BLZE](https://holderbook.com/stocks/BLZE/) | $851.7K | 53,700 | 0.5% | 7 |
| POWER INTEGRATIONS INC | [POWI](https://holderbook.com/stocks/POWI/) | $770.6K | 9,200 | 0.5% | 31 |
| EMERSON ELEC CO | [EMR](https://holderbook.com/stocks/EMR/) | $758.7K | 5,300 | 0.5% | 31 |
| CENOVUS ENERGY INC | [CVE](https://holderbook.com/stocks/CVE/) | $741.3K | 29,880 | 0.5% | 18 |
| SHELL PLC | [SHEL](https://holderbook.com/stocks/SHEL/) | $728.9K | 9,400 | 0.5% | 18 |
| ONE STOP SYS INC | [OSS](https://holderbook.com/stocks/OSS/) | $706.7K | 38,875 | 0.5% | 4 |
| ASURE SOFTWARE INC | [ASUR](https://holderbook.com/stocks/ASUR/) | $699.8K | 88,135 | 0.4% | 11 |
| WESTERN MIDSTREAM PARTNERS L | [WES](https://holderbook.com/stocks/WES/) | $695.8K | 15,900 | 0.4% | 7 |
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $681.2K | 925 | 0.4% | 31 |
| ETFS GOLD TR | [SGOL](https://holderbook.com/stocks/SGOL/) | $653.0K | 17,080 | 0.4% | 6 |
| LINCOLN EDL SVCS CORP | [LINC](https://holderbook.com/stocks/LINC/) | $634.5K | 12,715 | 0.4% | 18 |
| FIRST BANCORP CORPORATION | [FBP](https://holderbook.com/stocks/FBP/) | $589.2K | 22,600 | 0.4% | 31 |
| RANGE RES CORP | [RRC](https://holderbook.com/stocks/RRC/) | $529.6K | 14,240 | 0.3% | 15 |
| AEHR TEST SYS | [AEHR](https://holderbook.com/stocks/AEHR/) | $499.5K | 5,200 | 0.3% | 9 |
| REGENERON PHARMACEUTICALS | [REGN](https://holderbook.com/stocks/REGN/) | $489.5K | 785 | 0.3% | 22 |
| ISHARES TR | [TLT](https://holderbook.com/stocks/TLT/) | $476.2K | 5,510 | 0.3% | 1 |
| PUTNAM MASTER INTER INCOME T | [PIM](https://holderbook.com/stocks/PIM/) | $475.0K | 147,063 | 0.3% | 31 |
| PAYSIGN INC | [PAYS](https://holderbook.com/stocks/PAYS/) | $469.4K | 57,310 | 0.3% | 3 |
| HERCULES CAPITAL INC | [HTGC](https://holderbook.com/stocks/HTGC/) | $463.4K | 29,387 | 0.3% | 14 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $442.4K | 1,529 | 0.3% | 31 |
| ENTERPRISE PRODS PARTNERS L | [EPD](https://holderbook.com/stocks/EPD/) | $420.1K | 11,427 | 0.3% | 8 |
| DORCHESTER MINERALS LP | [DMLP](https://holderbook.com/stocks/DMLP/) | $409.7K | 16,225 | 0.3% | 17 |
| FIDELITY NATL FINL INC | [FNF](https://holderbook.com/stocks/FNF/) | $408.8K | 8,668 | 0.3% | 31 |
| KOPIN CORP | [KOPN](https://holderbook.com/stocks/KOPN/) | $395.5K | 88,275 | 0.3% | 7 |
| BRISTOL-MYERS SQUIBB CO | [BMY](https://holderbook.com/stocks/BMY/) | $381.2K | 6,615 | 0.2% | 3 |
| AMPLITUDE INC | [AMPL](https://holderbook.com/stocks/AMPL/) | $372.6K | 48,705 | 0.2% | 1 |
| RITHM CAPITAL CORP | [RITM](https://holderbook.com/stocks/RITM/) | $368.1K | 39,200 | 0.2% | 1 |
| INTERNATIONAL BUSINESS MACHS | [IBM](https://holderbook.com/stocks/IBM/) | $360.8K | 1,283 | 0.2% | 18 |
| INVESCO EXCHANGE TRADED FD T | [RSP](https://holderbook.com/stocks/RSP/) | $355.3K | 1,670 | 0.2% | 31 |
| TETRA TECHNOLOGIES INC DEL | [TTI](https://holderbook.com/stocks/TTI/) | $297.5K | 26,260 | 0.2% | 4 |
| TERADYNE INC | [TER](https://holderbook.com/stocks/TER/) | $290.3K | 600 | 0.2% | 1 |
| SPDR SERIES TRUST | [SPYM](https://holderbook.com/stocks/SPYM/) | $270.2K | 3,075 | 0.2% | 5 |
| IOVANCE BIOTHERAPEUTICS INC | [IOVA](https://holderbook.com/stocks/IOVA/) | $257.7K | 61,945 | 0.2% | 3 |
| REAVES UTIL INCOME FD | [UTG](https://holderbook.com/stocks/UTG/) | $249.4K | 6,125 | 0.2% | 13 |
| WILEY JOHN & SONS INC | [WLY](https://holderbook.com/stocks/WLY/) | $242.6K | 5,000 | 0.2% | 1 |
| J P MORGAN EXCHANGE TRADED F | [JEPI](https://holderbook.com/stocks/JEPI/) | $238.6K | 4,225 | 0.2% | 11 |
| GOLUB CAP BDC INC | [GBDC](https://holderbook.com/stocks/GBDC/) | $232.6K | 18,060 | 0.1% | 7 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $228.3K | 1,377 | 0.1% | 19 |
| ANTERO MIDSTREAM CORP | [AM](https://holderbook.com/stocks/AM/) | $225.2K | 9,900 | 0.1% | 2 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $218.4K | 1,700 | 0.1% | 2 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $216.0K | 660 | 0.1% | 1 |
| CONOCOPHILLIPS | [COP](https://holderbook.com/stocks/COP/) | $210.5K | 2,025 | 0.1% | 2 |
| FIRST AMERN FINL CORP | [FAF](https://holderbook.com/stocks/FAF/) | $205.8K | 3,000 | 0.1% | 1 |
| INVESCO MUNICIPAL TRUST | [VKQ](https://holderbook.com/stocks/VKQ/) | $200.8K | 20,000 | 0.1% | 31 |
| SKY HARBOUR GROUP CORPORATIO | [SKYH](https://holderbook.com/stocks/SKYH/) | $192.2K | 19,530 | 0.1% | 1 |
| BARNES & NOBLE ED INC | [BNED](https://holderbook.com/stocks/BNED/) | $188.4K | 15,000 | 0.1% | 1 |
| NUVEEN MUN VALUE FD INC | [NUV](https://holderbook.com/stocks/NUV/) | $184.4K | 20,000 | 0.1% | 28 |
| AQUESTIVE THERAPEUTICS INC | [AQST](https://holderbook.com/stocks/AQST/) | $180.1K | 43,300 | 0.1% | 6 |
| DYNEX CAP INC | [DX](https://holderbook.com/stocks/DX/) | $131.8K | 10,050 | 0.1% | 2 |
| ONDAS INC | [ONDS](https://holderbook.com/stocks/ONDS/) | $82.4K | 10,005 | 0.1% | 5 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +18.9% | +14.8% | +4.1% | 100% |
| Q1 2026 | -4.3% | -4.6% | +0.4% | 100% |
| Q4 2025 | +2.3% | +2.4% | -0.0% | 100% |
| Q3 2025 | +5.8% | +7.8% | -2.0% | 103% |
| Q2 2025 | +9.4% | +10.5% | -1.1% | 98% |
| Q1 2025 | -8.1% | -4.6% | -3.6% | 100% |
| Q4 2024 | -3.8% | +2.1% | -5.9% | 100% |
| Q3 2024 | -3.3% | +5.4% | -8.7% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $156.8M | 101 |
| Q1 2026 | $132.1M | 93 |
| Q4 2025 | $145.0M | 97 |
| Q3 2025 | $143.2M | 104 |
| Q2 2025 | $265.3M | 111 |
| Q1 2025 | $132.3M | 107 |
| Q4 2024 | $146.6M | 110 |
| Q3 2024 | $153.8M | 106 |
| Q2 2024 | $163.8M | 101 |
| Q1 2024 | $161.3M | 102 |
| Q4 2023 | $148.8M | 103 |
| Q3 2023 | $136.5M | 100 |