Penn Mutual Asset Management 13F annual report

Penn Mutual Asset Management is an investment fund managing more than $117 billion ran by Keith Huckerby. There are currently 69 companies in Mr. Huckerby’s portfolio. The largest investments include Wells Fargo Co New and Morgan Stanley Emerging Mkts, together worth $11.7 billion.

Limited to 30 biggest holdings

$117 billion Assets Under Management (AUM)

As of 6th February 2024, Penn Mutual Asset Management’s top holding is 6,000 shares of Wells Fargo Co New currently worth over $7.17 billion and making up 6.2% of the portfolio value. In addition, the fund holds 963,819 shares of Morgan Stanley Emerging Mkts worth $4.49 billion. The third-largest holding is Utah Med Prods Inc worth $4.47 billion and the next is Blackrock Res & Commodities worth $4.31 billion, with 485,111 shares owned.

Currently, Penn Mutual Asset Management's portfolio is worth at least $117 billion. The total portfolio value may be much higher due to cash assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents.

Careers at Penn Mutual Asset Management

The Penn Mutual Asset Management office and employees reside in Horsham, Pennsylvania. According to the last 13-F report filed with the SEC, Keith Huckerby serves as the Senior Managing Director and Chief Operating Officer at Penn Mutual Asset Management.

Recent trades

In the most recent 13F filing, Penn Mutual Asset Management revealed that it had opened a new position in Comtech Telecommunications C and bought 343,789 shares worth $2.9 billion.

The investment fund also strengthened its position in Utah Med Prods Inc by buying 16,810 additional shares. This makes their stake in Utah Med Prods Inc total 53,093 shares worth $4.47 billion.

On the other hand, there are companies that Penn Mutual Asset Management is getting rid of from its portfolio. Penn Mutual Asset Management closed its position in Spok Inc on 13th February 2024. It sold the previously owned 110,025 shares for $1.57 billion. Keith Huckerby also disclosed a decreased stake in Park Aerospace Corp by approximately 0.1%. This leaves the value of the investment at $4.27 billion and 290,703 shares.

One of the smallest hedge funds

The two most similar investment funds to Penn Mutual Asset Management are Phoenician Capital and Zeit Capital. They manage $117 billion and $117 billion respectively.


Keith Huckerby investment strategy

Penn Mutual Asset Management’s portfolio is diversified across 11 sectors. Currently, their heaviest sector is Technology — making up 8.0% of the total portfolio value. The fund focuses on investments in the United States as 37.7% of the portfolio companies are based in the United States.

The majority of the companies in the fund’s portfolio are large-cap stocks. Stocks with a size of more than $10 billion in market cap make up 25% of the total holdings value. On the other hand, small-cap stocks make up only 4.3% of the portfolio. The average market cap of the portfolio companies is close to $30.3 billion.

The complete list of Penn Mutual Asset Management trades based on 13F SEC filings

These positions were updated on February 13th based on the fund’s latest 13F filing. Quickly find out what the most recently closed or increased positions are.

Security Shares Owned Value Allocation
Wells Fargo Co New
No change
6,000
$7,173,720,000 6.15%
Morgan Stanley Emerging Mkts
No change
963,819
$4,491,397,000 3.85%
Utah Med Prods Inc
46.33%
53,093
$4,471,492,000 3.84%
Blackrock Res & Commodities
No change
485,111
$4,307,786,000 3.69%
Park Aerospace Corp
7.32%
290,703
$4,273,334,000 3.67%
Walgreens Boots Alliance Inc
76.76%
160,850
$4,199,794,000 3.60%
MiX Telematics Ltd
9.87%
482,417
$4,153,610,000 3.56%
Abrdn Asia Pacific Income Fu
No change
1,503,855
$4,075,447,000 3.50%
Evolution Pete Corp
17.51%
700,053
$4,067,308,000 3.49%
Nordic American Tankers Limi
11.74%
951,500
$3,996,300,000 3.43%
Futurefuel Corp
2.98%
650,493
$3,954,997,000 3.39%
Richardson Electrs Ltd
7.22%
293,919
$3,923,819,000 3.37%
National Storage Affiliates
No change
75,500
$3,130,985,000 2.69%
3M Co.
21.74%
28,000
$3,060,960,000 2.63%
Ishares Tr
30.96%
97,300
$3,034,787,000 2.60%
Doubleline Yield Opportuniti
No change
199,841
$2,971,636,000 2.55%
Comtech Telecommunications C
Opened
343,789
$2,898,141,000 2.49%
Omega Healthcare Invs Inc
No change
81,100
$2,486,526,000 2.13%
AT&T Inc.
No change
142,700
$2,394,506,000 2.05%
CVS Health Corp
Opened
29,930
$2,363,273,000 2.03%
International Business Machs
No change
14,130
$2,310,962,000 1.98%
Argan, Inc.
17.50%
47,747
$2,234,082,000 1.92%
National Presto Inds Inc
72.52%
27,344
$2,195,176,000 1.88%
Barrick Gold Corp.
2.23%
119,100
$2,154,519,000 1.85%
Kraft Heinz Co
Opened
56,000
$2,070,880,000 1.78%
Atrion Corp.
Opened
5,145
$1,948,875,000 1.67%
Organon & Co
225.93%
132,000
$1,903,440,000 1.63%
Campbell Soup Co.
Opened
43,000
$1,858,890,000 1.59%
Energy Transfer L P
No change
133,500
$1,842,300,000 1.58%
Franklin Bsp Rlty Tr Inc
27.30%
133,156
$1,798,938,000 1.54%
Verizon Communications Inc
No change
47,000
$1,771,900,000 1.52%
MPLX LP
No change
44,857
$1,647,149,000 1.41%
Spok Holdings Inc
Closed
110,025
$1,570,057,000
Agnico Eagle Mines Ltd
14.95%
26,150
$1,434,328,000 1.23%
Enterprise Prods Partners L
No change
47,663
$1,255,920,000 1.08%
VanEck ETF Trust
No change
48,943
$1,240,705,000 1.06%
Sanofi
Closed
23,000
$1,233,720,000
Gap, Inc.
Closed
113,186
$1,203,167,000
Ennis Inc.
Closed
50,629
$1,074,347,000
Western Asset Emerging Mkts
No change
114,079
$1,050,668,000 0.90%
Lsi Inds Inc Ohio
Closed
63,107
$1,002,139,000
Devon Energy Corp.
25.07%
21,950
$994,335,000 0.85%
Agnc Invt Corp
Opened
100,000
$981,000,000 0.84%
Annaly Capital Management In
Opened
50,000
$968,500,000 0.83%
Opera Ltd
Opened
50,000
$661,500,000 0.57%
Dominion Energy Inc
No change
12,426
$584,009,000 0.50%
Braze Inc
Opened
10,839
$575,876,000 0.49%
Phathom Pharmaceuticals Inc
No change
62,802
$573,382,000 0.49%
Vale S.A.
No change
28,953
$459,195,000 0.39%
Huntington Ingalls Inds Inc
7.85%
1,760
$456,966,000 0.39%
Brady Corp.
14.51%
7,660
$449,565,000 0.39%
Haynes International Inc.
22.48%
7,585
$432,724,000 0.37%
M & T Bk Corp
95.31%
3,125
$428,375,000 0.37%
Village Super Mkt Inc
Closed
18,377
$416,055,000
Vistra Corp
Closed
12,505
$414,916,000
Toast, Inc.
Closed
19,684
$368,681,000
Interdigital Inc
Opened
3,000
$325,620,000 0.28%
Molson Coors Beverage Company
33.77%
5,150
$315,232,000 0.27%
Novartis AG
24.27%
3,120
$315,026,000 0.27%
Arcos Dorados Holdings Inc
Opened
23,000
$291,870,000 0.25%
Northern Technologies Intl C
40.77%
23,860
$281,071,000 0.24%
Allison Transmission Hldgs I
Closed
4,750
$280,535,000
Hasbro, Inc.
Closed
3,750
$248,025,000
Advance Auto Parts Inc
Opened
4,000
$244,120,000 0.21%
Jefferies Finl Group Inc
Closed
6,650
$243,590,000
H & E Equipment Services Inc
No change
4,650
$243,288,000 0.21%
Duke Energy Corp.
No change
2,400
$232,896,000 0.20%
Smucker J M Co
Opened
1,825
$230,644,000 0.20%
Rxsight Inc
Closed
8,264
$230,483,000
V F Corp
Opened
12,000
$225,600,000 0.19%
Premier Inc
Opened
10,000
$223,600,000 0.19%
Medtronic Plc
Opened
2,700
$222,426,000 0.19%
Perrigo Co Plc
Opened
6,900
$222,042,000 0.19%
Firstenergy Corp.
Opened
5,760
$211,162,000 0.18%
Bank New York Mellon Corp
Closed
4,950
$211,118,000
BWX Technologies Inc
34.88%
2,735
$209,857,000 0.18%
Marketwise Inc
Opened
75,960
$207,371,000 0.18%
Frontline Plc
Opened
10,100
$202,505,000 0.17%
ReposiTrak Inc.
Opened
20,166
$201,862,000 0.17%
Healthcare Svcs Group Inc
74.88%
16,770
$173,905,000 0.15%
Acv Auctions Inc
Opened
10,127
$153,424,000 0.13%
Pgim Global High Yield Fd Fo
No change
13,152
$149,407,000 0.13%
No transactions found
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