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Pleasant Lake Partners LLC
Jonathan P. Lennon · Hedge Fund · Long/Short Equity
Pleasant Lake Partners LLC is a global investment management firm founded in 2012 by Jonathan P. Lennon. Based in Rincon, Puerto Rico, the firm specializes in long/short equity strategies with a concentrated focus on the consumer, telecommunications, media, and technology sectors. The firm is known for its fundamental, research-driven approach, seeking absolute returns by identifying high-conviction opportunities in both public and private markets. Over the years, the firm has gained recognition for its concentrated portfolio and occasional activist engagements, aiming to drive value through disciplined selection and deep industry expertise.
Simulated Performance
| Metric | Value |
|---|---|
| Total return | +55.9% |
| YTD return | +31.2% |
| Sharpe ratio | 3.30 |
| Win rate | 60% |
| AUM | $0.0B |
| Inception | Oct 1, 2025 |
| Updated | Sep 18, 2026 |
Institution Status
| Field | Value |
|---|---|
| AUM | $0.0B |
| Turnover | Low (<15%) |
| Avg holding | 18 Months |
| Inception | Oct 1, 2025 |
| Website | http://www.pleasantlakepartners.com |
Current Holdings
Updated on Sep 18, 2026.
| Ticker | Name | Portfolio % | Return |
|---|---|---|---|
| NVRI | Enviri Corporation | 21.0% | +68.3% |
| JMIA | Jumia Technologies AG | 16.7% | -41.1% |
| CTRN | Citi Trends Inc | 14.8% | +77.8% |
| AMD | Advanced Micro Devices Inc | 7.8% | +241.3% |
| MU | Micron Technology Inc | 7.5% | +458.2% |
| SFIX | Stitch Fix | 4.4% | -31.4% |
| RDDT | Reddit, Inc. | 4.2% | -25.5% |
| DOCN | DigitalOcean Holdings Inc | 3.3% | +262.8% |
| GCO | Genesco Inc | 2.6% | +9.8% |
| TPR | Tapestry Inc | 2.6% | +1.4% |
| FNKO | Funko Inc | 2.4% | +62.5% |
| BBWI | Bath & Body Works Inc. | 2.1% | -31.3% |
| FLWS | 1-800 FLOWERS.COM Inc | 1.8% | -45.5% |
| CROX | Crocs Inc | 1.7% | +43.8% |
| AVBP | ArriVent BioPharma, Inc. Common Stock | 1.5% | +56.6% |
| RH | RH | 1.3% | -37.0% |
| TLYS | Tillys Inc | 1.2% | +103.9% |
| CELH | Celsius Holdings Inc | 1.2% | -51.3% |
| EYE | National Vision Holdings Inc | 0.9% | -42.0% |
| CURV | Torrid Holdings Inc | 0.8% | +37.7% |
Recent activity
| Date | Action | Ticker | Weight |
|---|---|---|---|
| Oct 1, 2025 | BUY | TPR | 0.0% → 3.0% |
| Oct 1, 2025 | BUY | FLWS | 0.0% → 2.6% |
| Oct 1, 2025 | BUY | DOCN | 0.0% → 2.5% |
| Oct 1, 2025 | BUY | FNKO | 0.0% → 2.4% |
| Oct 1, 2025 | BUY | GCO | 0.0% → 3.1% |
Investment Style Analysis
Pleasant Lake Partners LLC is widely recognized for employing a Long/Short Equity strategy. As of Sep 18, 2026, the firm oversees approximately $0.0B in assets under management (AUM). The portfolio demonstrates a clear preference for the Apparel Retail and Waste Management sectors, reflecting a high-conviction approach to capital allocation.
Recent Market Moves
During the latest rebalancing period ending Oct 1, Pleasant Lake Partners LLC made a significant move by increasing exposure to TPR. This adjustment aligns with the fund's dynamic approach to risk management and capital deployment in current market conditions.
Investment Philosophy
The core investment philosophy of Pleasant Lake Partners centers on a structured and replicable research process aimed at generating maximum absolute annualized returns. The firm combines bottom-up fundamental analysis with idea generation to identify securities that exhibit compelling valuations on the long side and demanding valuations on the short side. This approach often results in a concentrated portfolio of high-conviction positions characterized by high potential upside and limited downside risk. PLP evaluates the risk-reward profile of each investment through rigorous financial modeling and multi-stage due diligence to ensure superior risk-adjusted performance across market cycles.
Disclaimer
The content provided on this page, including the simulated portfolio performance, holdings analysis, and AI-generated insights, is for informational and educational purposes only. It does not constitute financial advice, investment recommendations, or an offer to buy or sell any securities. All data is derived from historical SEC 13F filings and other public disclosures, which have a reporting lag. The "Simulated Performance" is a hypothetical reconstruction based on past disclosures and does not represent the actual returns of the institution. Past performance is not indicative of future results. Tritonix.ai is not affiliated with Pleasant Lake Partners LLC.
Similar Investment Style
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Frequently asked questions
How is the simulated portfolio for Pleasant Lake Partners LLC constructed?
This simulation is powered by Tritonix AI using official SEC filings. We focus on the "Best Ideas" by filtering for only the Top 20 largest holdings and rebalancing them to 100%. The simulation tracks performance starting from Oct 1, 2025. Our AI monitors for updates every Monday to capture major shifts. This concentrated approach highlights the manager's true stock-picking skill and mirrors their actual investment returns.
What is Pleasant Lake Partners LLC's largest holding?
As of the latest filing, Pleasant Lake Partners LLC's top position is Enviri Corporation (NVRI), representing 21.0% of the portfolio. This reflects a high-conviction bet by the institution.
What is Pleasant Lake Partners LLC's historical performance and risk profile?
Our simulation indicates a total return of +55.9% with a win rate of 60%. Notably, the portfolio maintains a Sharpe Ratio of 3.30, suggesting an exceptional level of risk-adjusted returns compared to the broader market.
What sectors does Pleasant Lake Partners LLC primarily invest in?
Pleasant Lake Partners LLC has a strong preference for the Apparel Retail sector, which makes up 23.9% of their disclosed assets. The portfolio also has exposure to Waste Management, indicating a specific thematic focus.
Is Pleasant Lake Partners LLC's portfolio concentrated or diversified?
Pleasant Lake Partners LLC runs a moderately concentrated portfolio with 20 disclosed positions. The top 3 holdings alone account for 52.6% of the total portfolio weight, suggesting a strategy that favors broader market exposure.
How has Pleasant Lake Partners LLC performed in 2026?
Our AI-simulated model portfolio for Pleasant Lake Partners LLC tracks a Year-to-Date (YTD) return of +31.2%. This metric helps investors gauge the institution's effectiveness in the current market environment.
Does Jonathan P. Lennon manage Pleasant Lake Partners LLC directly?
Yes, Jonathan P. Lennon serves as the key portfolio manager for Pleasant Lake Partners LLC, overseeing the investment strategy and final capital allocation decisions.