Insights from the Pennant Family Office's Latest 13F Filing
Alan Fournier (Trades, Portfolio), the founder of Pennant Capital Management and a former partner at Appaloosa Management, recently submitted his 13F filing for the second quarter of 2026. Known for his unconventional path—he famously never took a finance or accounting course—Fournier transitioned his firm to a family office in 2018 after returning client capital. His investment philosophy blends growth and value qualities, employing a long/short approach with hedging, leverage, and options. This quarter, his most decisive action was the complete liquidation of Core Scientific Inc CORZ, a move that had a -4.6% impact on his portfolio.
Summary of New Buy
Alan Fournier (Trades, Portfolio) added total of 1 stocks, among them:
- The most significant addition was Versigent PLC VGNT, with 300,378 shares, accounting for 3.77% of the portfolio and a total value of $12.62 million.
Key Position Increases
Alan Fournier (Trades, Portfolio) also increased stakes in total of 3 stocks, among them:
- The most notable increase was Amazon.com Inc AMZN, with an additional 45,000 shares, bringing the total to 162,000 shares. This adjustment represents a significant 38.46% increase in share count, a 3.2% impact on the current portfolio, and a total value of $38.61 million.
- The second largest increase was Flowserve Corp FLS, with an additional 75,000 shares, bringing the total to 210,000. This adjustment represents a significant 55.56% increase in share count and a total value of $15.57 million.
Summary of Sold Out
Alan Fournier (Trades, Portfolio) completely exited 2 of the holdings in the second quarter of 2026, as detailed below:
- Core Scientific Inc CORZ: Alan Fournier (Trades, Portfolio) sold all 1,110,000 shares, resulting in a -4.6% impact on the portfolio.
- CCC Intelligent Solutions Holdings Inc CCC: Alan Fournier (Trades, Portfolio) liquidated all 2,420,086 shares, causing a -4.02% impact on the portfolio.
Key Position Reduces
Alan Fournier (Trades, Portfolio) also reduced positions in 6 stocks. The most significant changes include:
- Reduced Vertiv Holdings Co VRT by 55,000 shares, resulting in a -50.46% decrease in shares and a -3.82% impact on the portfolio. The stock traded at an average price of $316.10 during the quarter and has returned -21.88% over the past 3 months and 81.45% year-to-date.
- Reduced EchoStar Corp ECHO by 103,540 shares, resulting in a -27.58% reduction in shares and a -3.36% impact on the portfolio. The stock traded at an average price of $122.15 during the quarter and has returned -31.99% over the past 3 months and -15.46% year-to-date.
Portfolio Overview
At the second quarter of 2026, Alan Fournier (Trades, Portfolio)'s portfolio included 16 stocks. The top holdings included 12.64% in Solstice Advanced Materials Inc SOLS, 11.53% in Amazon.com Inc AMZN, 11.14% in Microsoft Corp MSFT, 8.24% in EchoStar Corp (ECHO), and 7.33% in Perimeter Solutions Inc PRM.
The holdings are mainly concentrated in 6 of all the 11 industries: Industrials, Basic Materials, Consumer Cyclical, Communication Services, Technology, and Energy.
Fournier's decision to exit Core Scientific entirely signals a strategic shift away from the high-volatility crypto mining sector, while his increased stakes in Amazon and Flowserve indicate a continued confidence in e-commerce and industrial flow control. For value investors, these moves highlight a disciplined approach to reallocating capital toward more stable growth opportunities. To track these changes in real-time and access detailed holding history, consider becoming a GuruFocus Premium member today.
This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].
