22NW, LP

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), 22NW, LP reported 16 stock positions worth $158.5 million. Its top holding was Foster (lb) Class A (FSTR) at 22.3% of the portfolio, followed by Lifecore Biomedical (LFCR, 19.6%) and Anebulo Pharmaceuticals (ANEB, 16.4%). Compared with Q3 2024, it opened 4 new positions, sold out of 1 and added to 2. The biggest buy was Anebulo Pharmaceuticals (ANEB, shares +188%) and the biggest sale an exit from Psychemedics (PMDI).

Most Recent 13F
Q2 2026
Location
SEATTLE, WA
CIK
0001694297
Portfolio Value
$158.5M (Q4 2024)
SEC Filing
0001214659-25-002859 ↗ filed Feb 14, 2025

Holdings Value

0$50.0M$100.0M$150.0M$200.0M$250.0M Q1 2024: $116.1M Q1 2024 Q2 2024: $117.2M Q2 2024 Q3 2024: $119.3M Q3 2024 Q4 2024: $158.5M $158.5M Q4 2024 Q1 2025: $149.1M Q1 2025 Q2 2025: $158.8M Q2 2025 Q3 2025: $212.3M Q3 2025 Q4 2025: $237.6M Q4 2025 Q1 2026: $145.9M Q1 2026 Q2 2026: $104.7M Q2 2026

Holdings 16 stocks · $158.5M
FSTR Foster (lb) Co. Class A 22.28% 1,313,121 $35.3M No change
LFCR Lifecore Biomedical Inc. 19.65% 1,755,161 $31.1M No change
ANEB Anebulo Pharmaceuticals Inc. 16.39% 15,467,300 $26.0M Add +188.2%
STRL Sterling Infrastructure Inc. 10.60% 99,783 $16.8M No change
BBSI Barrett Business SVCS Inc. 7.26% 264,904 $11.5M No change
CULP Culp Inc. 6.02% 1,624,715 $9.5M Add +1.9%
PFX Phenixfin Corp. 3.74% 117,885 $5.9M No change
DHX Dhi Group Inc. 2.91% 2,603,643 $4.6M No change
FARM Farmer Bros Co. 2.22% 1,955,526 $3.5M No change
MTW Manitowoc Company Inc. 2.05% 356,115 $3.3M No change
LNTH Lantheus Holdings Inc. 1.95% 34,562 $3.1M No change
SRI Stoneridge Inc. 1.36% 342,787 $2.1M New
NKTR Nektar Therapeutics 1.29% 2,191,750 $2.0M New
SSKN Strata Skin Sciences Inc. 0.98% 536,995 $1.6M No change
UFI Unifi Inc. 0.92% 233,777 $1.5M New
PMDI Psychemedics Corp. 0.39% 276,034 $618K New

Portfolio Sells Q3 2024 → Q4 2024
PMDI Psychemedics Corp. Sold out 0.00% −0.53

Portfolio Buys Q3 2024 → Q4 2024
ANEB Anebulo Pharmaceuticals Inc. Add +188.2% 16.39% +7.71
SRI Stoneridge Inc. New 1.36% +1.36
NKTR Nektar Therapeutics New 1.29% +1.29
UFI Unifi Inc. New 0.92% +0.92
PMDI Psychemedics Corp. New 0.39% +0.39
CULP Culp Inc. Add +1.9% 6.02% −2.74

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 14$104.7MNSP, NKTR, SRI, FOXF, CMT
Q1 2026 16$145.9MFSTR, NKTR, LFCR, NSP, MLYS
Q4 2025 20$237.6MANEB, FSTR, LFCR, NKTR, RGNX
Q3 2025 21$212.3MANEB, FSTR, LFCR, NKTR, SRI
Q2 2025 21$158.8MFSTR, LFCR, ANEB, SRI, DHX
Q1 2025 20$149.1MLFCR, FSTR, ANEB, STRL, CULP
Q4 2024 16$158.5MFSTR, LFCR, ANEB, STRL, BBSI
Q3 2024 13$119.3MFSTR, LFCR, STRL, CULP, ANEB
Q2 2024 13$117.2MFSTR, LFCR, ANEB, STRL, BBSI
Q1 2024 13$116.1MFSTR, ANEB, STRL, LFCR, BBSI