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Livermore
Livermore
ZHEN

Penn Mutual Asset Management, LLC

SEC CIK
0000855702
Latest filing
Jul 24, 2026

The latest 13F from Penn Mutual Asset Management, LLC covers Q2 2026 (filed Jul 24, 2026): 9 long positions worth $19.5M. The top 10 holdings make up 100.0% of the portfolio, and the largest is Wells Fargo & Company (WFC.PL) at 35.6%. Livermore has 22 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
1
Est. +$189.8K
Added
0
Reduced
2
Est. −$1.17M
Sold out
1
Est. −$250.1K

Top 5 holdings

Share of this quarter's portfolio value

  1. WFC.PLWells Fargo & Company
    35.6%$6.94MHistory
  2. NLYAnnaly Capital Management Inc
    20.4%$3.97MHistory
  3. AGNCAGNC Investment Corp.
    20.1%$3.92MHistory
  4. ARRArmour Residential REIT, Inc.
    15.6%$3.04MHistory
  5. PHATPhathom Pharmaceuticals, Inc.
    3.5%$681.4KHistory

Share of portfolio

Top 5 holdings and the other 4 positions, by share of portfolio value

  1. WFC.PL35.6%
  2. NLY20.4%
  3. AGNC20.1%
  4. ARR15.6%
  5. PHAT3.5%
  6. Other 4 positions4.8%

Biggest buys

New and added positions, by estimated amount bought

  1. NAVNNavan, Inc.
    +$189.8KNewHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. NAVNNavan, Inc.
    +0.97 pp0.0% → 1.0%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. RBRKRubrik, Inc.
    −$1.12MReducedHistory
  2. NOWServiceNow, Inc.
    −$250.1KSold outHistory
  3. TTANServiceTitan, Inc.
    −$42.4KReducedHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. RBRKRubrik, Inc.
    −3.12 pp4.1% → 1.0%History
  2. NOWServiceNow, Inc.
    −1.28 pp1.3% → 0.0%History
  3. TTANServiceTitan, Inc.
    −0.15 pp0.6% → 0.4%History

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$19.5M
−$32.5K (−0.2%) vs. prior quarter
Positions
9
0 vs. prior quarter
Top 10 concentration
100.0%
Top 10 as share of value
Turnover
1.0%
Q2 2026, one quarter
Average holding period
12.9 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

22 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $167.3M (Q4 2025)

Q1 2021: $88.5MQ2 2021: $80.0MQ3 2021: $63.2MQ4 2021: $93.3MQ1 2022: $86.2MQ2 2022: $74.2MQ3 2022: $76.4MQ4 2022: $89.6MQ1 2023: $105.4MQ2 2023: $110.9MQ3 2023: $106.6MQ4 2023: $129.7MQ1 2024: $46.9MQ2 2024: $47.0MQ3 2024: $50.4MQ4 2024: $55.4MQ1 2025: $52.1MQ2 2025: $56.6MQ3 2025: $51.5MQ4 2025: $167.3MQ1 2026: $19.5MQ2 2026: $19.5M
Q1 2021Q2 2026
13F filings of Penn Mutual Asset Management, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 24, 20269$19.5MWFC.PLNLYAGNCvs. Q1 2026SEC
Q1 2026May 8, 20269$19.5MWFC.PLNLYAGNCvs. Q4 2025SEC
Q4 2025Jan 23, 202612$167.3MiShares Iboxx $ Investment Grade Corporate Bond ETFWFC.PLNLYvs. Q3 2025SEC
Q3 2025Dec 3, 202562$51.5MWFC.PLNLYAGNCvs. Q2 2025SEC
Q2 2025Aug 14, 202567$56.6MWFC.PLRBRKNLYvs. Q1 2025SEC
Q1 2025May 13, 202562$52.1MWFC.PLNLYAGNCvs. Q4 2024SEC
Q4 2024Feb 14, 202568$55.4MWFC.PLAGNCARRvs. Q3 2024SEC
Q3 2024Nov 14, 202460$50.4MWFC.PLAGNCNLYvs. Q2 2024SEC
Q2 2024Aug 14, 202465$47.0MWFC.PLAGNCNLYvs. Q1 2024SEC
Q1 2024May 15, 202462$46.9MWFC.PLAGNCNLYvs. Q4 2023SEC
Q4 2023Feb 13, 202478$129.7MWFC.PLIonis Pharmaceuticals IncEDDvs. Q3 2023SEC
Q3 2023Nov 13, 202369$106.6MWFC.PLPKEFFvs. Q2 2023SEC
Q2 2023Aug 11, 202369$110.9MWFC.PLEDDBCXvs. Q1 2023SEC
Q1 2023May 5, 202363$105.4MFBRTWFC.PLBCXvs. Q4 2022SEC
Q4 2022Feb 13, 202361$89.6MWFC.PLBCXFBRTvs. Q3 2022SEC
Q3 2022Nov 14, 202264$76.4MWFC.PLBCXFBRTvs. Q2 2022SEC
Q2 2022Aug 11, 202254$74.2MFBRTBCXFAXvs. Q1 2022SEC
Q1 2022May 12, 202254$86.2MFBRTBCXFAXvs. Q4 2021SEC
Q4 2021Feb 14, 202256$93.3MFBRTWFC.PLFAXvs. Q3 2021SEC
Q3 2021Nov 5, 202172$63.2MRITMFortive CorpEDDvs. Q2 2021SEC
Q2 2021Aug 26, 202187$80.0MVanEck ETF TrustEDDFortive Corpvs. Q1 2021SEC
Q1 2021May 13, 202180$88.5MVanEck ETF TrustNLYEDD–SEC