13F COMBINATION REPORT
Penn Mutual Asset Management, LLC
Quarter ended Q4 2025 · Filed December 3, 2025 · Accession 0001193125-25-306544
Total Value
$51.5M
Positions
62
Other Managers
0
Confidential Omitted
No
Holdings (62)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | WELLS FARGO CO NEW PERP PFD CNV A | 949746804 | 6,000 | $7.4M | 14.39% |
| 2 | ANNALY CAPITAL MANAGEMENT IN COM NEW | NLY-PJ | 177,588 | $3.6M | 6.97% |
| 3 | AGNC INVT CORP COM | 00123Q104 | 360,000 | $3.5M | 6.85% |
| 4 | ISHARES TR PFD AND INCM SEC | 464288687 | 97,300 | $3.1M | 5.98% |
| 5 | ARMOUR RESIDENTIAL REIT INC COM SHS | ARR-PC | 174,050 | $2.6M | 5.05% |
| 6 | CERENCE INC NOTE 1.500 7/0 | CRNC | 2,575,000 | $2.1M | 4.14% |
| 7 | PARK AEROSPACE CORP COM | PKE | 52,000 | $1.1M | 2.05% |
| 8 | OPERA LTD SPONSORED ADS | OPRA | 50,419 | $1.0M | 2.02% |
| 9 | PACIRA BIOSCIENCES INC NOTE 2.125 5/1 | PCRX | 1,000,000 | $1.0M | 1.98% |
| 10 | HUNTINGTON INGALLS INDS INC COM | 446413106 | 3,225 | $928,510 | 1.80% |
| 11 | RUBRIK INC. CL A | RBRK | 10,541 | $866,997 | 1.68% |
| 12 | CARRIAGE SVCS INC COM | 143905107 | 18,468 | $822,565 | 1.60% |
| 13 | BARRICK MNG CORP COM SHS | 06849F108 | 24,800 | $812,696 | 1.58% |
| 14 | PAPA JOHNS INTL INC COM | 698813102 | 16,700 | $804,105 | 1.56% |
| 15 | AGNICO EAGLE MINES LTD COM | AEM | 4,700 | $792,232 | 1.54% |
| 16 | IMMERSION CORP COM | IMMR | 104,000 | $763,360 | 1.48% |
| 17 | NACCO INDS INC CL A | 629579103 | 17,578 | $741,088 | 1.44% |
| 18 | PHATHOM PHARMACEUTICALS INC COM | PHAT | 62,802 | $739,180 | 1.44% |
| 19 | ALICO INC COM | ALCO | 21,000 | $727,860 | 1.41% |
| 20 | RAYONIER INC COM | RYN | 27,000 | $716,580 | 1.39% |
| 21 | ARCOS DORADOS HOLDINGS INC SHS CLASS -A - | ARCO | 106,000 | $715,500 | 1.39% |
| 22 | MPLX LP COM UNIT REP LTD | MPLXP | 13,970 | $697,802 | 1.36% |
| 23 | INTERDIGITAL INC COM | IDCC | 2,000 | $690,460 | 1.34% |
| 24 | CALIFORNIA WTR SVC GROUP COM | 130788102 | 14,950 | $686,056 | 1.33% |
| 25 | YORK WTR CO COM | 987184108 | 21,000 | $638,820 | 1.24% |
| 26 | AAON INC COM PAR $0.004 | AAON | 6,500 | $607,360 | 1.18% |
| 27 | OCCIDENTAL PETE CORP COM | 674599105 | 11,325 | $535,106 | 1.04% |
| 28 | CURIOSITYSTREAM INC COM CL A | CURI | 98,000 | $519,400 | 1.01% |
| 29 | ADEIA INC COM | ADEA | 30,000 | $504,000 | 0.98% |
| 30 | SMITH & NEPHEW PLC SPDN ADR NEW | SNNUF | 13,325 | $483,564 | 0.94% |
| 31 | NOMAD FOODS LTD USD ORD SHS | NOMD | 36,500 | $479,975 | 0.93% |
| 32 | MATTHEWS INTL CORP CL A | 577128101 | 19,000 | $461,320 | 0.90% |
| 33 | GLOBAL SHIP LEASE INC NEW COM CL A | GSL-PB | 15,000 | $460,500 | 0.89% |
| 34 | VANECK ETF TRUST JP MRGAN EM LOC | 92189H300 | 18,000 | $459,180 | 0.89% |
| 35 | AES CORP COM | AES | 34,500 | $454,020 | 0.88% |
| 36 | MONRO INC COM | MNRO | 25,000 | $449,250 | 0.87% |
| 37 | ORGANON & CO COMMON STOCK | OGN | 42,000 | $448,560 | 0.87% |
| 38 | ARGAN INC COM | AGX | 1,542 | $416,417 | 0.81% |
| 39 | DEVON ENERGY CORP NEW COM | 25179M103 | 11,550 | $404,943 | 0.79% |
| 40 | CHOICEONE FINL SVCS INC COM | 170386106 | 13,500 | $390,960 | 0.76% |
| 41 | TRIMAS CORP COM NEW | TRS | 10,000 | $386,400 | 0.75% |
| 42 | SANFILIPPO JOHN B & SON INC COM | JBSS | 6,000 | $385,680 | 0.75% |
| 43 | GEN DIGITAL INC COM | GENVR | 13,000 | $369,070 | 0.72% |
| 44 | SELECT WATER SOLUTIONS INC CL A COM | WTTR | 34,405 | $367,789 | 0.71% |
| 45 | SUN CMNTYS INC COM | 866674104 | 2,785 | $359,265 | 0.70% |
| 46 | CITIGROUP INC COM NEW | C-PR | 3,500 | $355,250 | 0.69% |
| 47 | LSI INDS INC OHIO COM | 50216C108 | 15,000 | $354,150 | 0.69% |
| 48 | CALAVO GROWERS INC COM | CVGW | 13,750 | $353,925 | 0.69% |
| 49 | SIGA TECHNOLOGIES INC COM | SIGA | 38,280 | $350,262 | 0.68% |
| 50 | PLAINS ALL AMERN PIPELINE L UNIT LTD PARTN | 726503105 | 19,500 | $332,670 | 0.65% |
| 51 | NATIONAL RESH CORP COM NEW | 637372202 | 25,281 | $323,091 | 0.63% |
| 52 | CRACKER BARREL OLD CTRY STOR COM | 22410J106 | 6,900 | $304,014 | 0.59% |
| 53 | MICROCHIP TECHNOLOGY INC. COM | MCHPP | 4,500 | $288,990 | 0.56% |
| 54 | PERRIGO CO PLC SHS | PRGO | 12,800 | $285,056 | 0.55% |
| 55 | QUANEX BLDG PRODS CORP COM | 747619104 | 20,000 | $284,400 | 0.55% |
| 56 | LUXFER HLDGS PLC SHS | LXFR | 20,211 | $280,933 | 0.55% |
| 57 | BRITISH AMERN TOB PLC SPONSORED ADR | 110448107 | 5,200 | $276,016 | 0.54% |
| 58 | COLUMBIA BKG SYS INC COM | 197236102 | 10,000 | $257,400 | 0.50% |
| 59 | FUTUREFUEL CORP COM | FF | 63,789 | $247,501 | 0.48% |
| 60 | ONESPAN INC COM | OSPN | 15,000 | $238,350 | 0.46% |
| 61 | VISHAY INTERTECHNOLOGY INC COM | VSH | 15,000 | $229,500 | 0.45% |
| 62 | KEURIG DR PEPPER INC COM | KDP | 7,000 | $178,570 | 0.35% |