Acuitas Investments, LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 18, 2025), Acuitas Investments, LLC reported 52 stock positions worth $155.8 million. Its top holding was Solaris Energy Infrastructur (SEI) at 4.7% of the portfolio, followed by Alpha & Omega Semiconductor (AOSL, 4.3%) and Mistras (MG, 4.1%). Compared with Q2 2025, it opened 8 new positions, sold out of 9, added to 22 and reduced 13. The biggest buy was a new position in Tetra Technologies (TTI) and the biggest sale an exit from Sally Beauty (SBH).
- Most Recent 13F
- Q2 2026
- Location
- Seattle, WA
- CIK
- 0001524828
- Portfolio Value
- $155.8M (Q3 2025)
- SEC Filing
- 0001941040-25-000659 ↗ filed Nov 18, 2025
Holdings Value
Holdings 52 stocks · $155.8M
| SEI Solaris Energy Infrastructur | 4.69% | 182,886 | $7.3M | Reduce -3.2% |
| AOSL Alpha & Omega Semiconductor | 4.32% | 240,920 | $6.7M | Add +38.6% |
| MG Mistras Group Inc. | 4.06% | 643,483 | $6.3M | Add +51.7% |
| NGS Natural Gas Services Group | 3.89% | 216,700 | $6.1M | Add +8.2% |
| ANGO Angiodynamics Inc. | 3.57% | 498,530 | $5.6M | Add +12.7% |
| OPRT Oportun Financial Corp. | 3.54% | 892,449 | $5.5M | Add +20.4% |
| TLS Telos Corporation | 3.39% | 771,813 | $5.3M | Add +48.0% |
| MCHB Mechanics Bancorp Class A | 3.28% | 383,299 | $5.1M | No change |
| GLDD Great Lakes Dredge & Dock Co. | 3.26% | 423,234 | $5.1M | No change |
| UROY Uranium Royalty Corp. | 3.24% | 1,172,719 | $5.0M | Add +15.8% |
| HOS Hornbeck Offshore Services I filed as HELIX ENERGY SOLUTIONS GRP I | 2.87% | 681,610 | $4.5M | Add +63.9% |
| TTI Tetra Technologies Inc. | 2.72% | 736,170 | $4.2M | New |
| ORN Orion Group Holdings Inc. | 2.71% | 508,132 | $4.2M | No change |
| URG Ur-Energy Inc. | 2.57% | 2,237,441 | $4.0M | No change |
| ARAY Accuray Inc. | 2.56% | 2,392,126 | $4.0M | Add +67.8% |
| ARHS Arhaus Inc. | 2.55% | 373,593 | $4.0M | Reduce -22.8% |
| RRGB Red Robin Gourmet Burgers | 2.47% | 560,006 | $3.8M | No change |
| TASEKO MINES LTD | 2.42% | 891,609 | $3.8M | Reduce -24.5% |
| YTRA Yatra Online Inc. | 2.40% | 2,671,484 | $3.7M | Add +10.4% |
| OR Or Royalties Inc. | 2.39% | 92,707 | $3.7M | Reduce -11.2% |
| GDOT Green Dot Corp. Class A | 2.34% | 271,611 | $3.6M | New |
| INVX Innovex International Inc. | 2.21% | 185,353 | $3.4M | No change |
| METC Ramaco Resources Inc. Class A | 2.19% | 102,610 | $3.4M | Reduce -71.8% |
| HZO Marinemax Inc. | 2.14% | 131,538 | $3.3M | Add +24.9% |
| RNGR Ranger Energy Services Class A | 2.04% | 226,479 | $3.2M | Add +52.8% |
| METCB Ramaco Resources Inc. Class B | 1.98% | 182,621 | $3.1M | Add +1.2% |
| GROY Gold Royalty Corp. | 1.93% | 780,816 | $3.0M | New |
| FTK Flotek Industries Inc. | 1.91% | 203,469 | $3.0M | Reduce -22.1% |
| PUBM Pubmatic Inc. Class A | 1.89% | 355,651 | $2.9M | Add +142.8% |
| KRMD Koru Medical Systems Inc. | 1.88% | 763,088 | $2.9M | Add +89.6% |
| PGNY Progyny Inc. | 1.82% | 131,725 | $2.8M | No change |
| VPG Vishay Precision Group | 1.78% | 86,281 | $2.8M | Add +20.9% |
| CRAI Cra International Inc. | 1.71% | 12,800 | $2.7M | Add +20.8% |
| LGND Ligand Pharmaceuticals | 1.53% | 13,494 | $2.4M | Reduce -32.2% |
| INBK First Internet Bancorp | 1.51% | 104,832 | $2.4M | No change |
| HCKT The Hackett Group Inc. | 1.50% | 122,500 | $2.3M | Add +10.3% |
| GOLD Gold.com Inc. filed as A-MARK PRECIOUS METALS INC | 1.41% | 84,664 | $2.2M | Add +34.3% |
| CTLP Cantaloupe Inc. | 1.40% | 205,645 | $2.2M | Add +29.4% |
| TMCI Treace Medical Concepts Inc. | 1.30% | 301,100 | $2.0M | New |
| AVNW Aviat Networks Inc. | 0.93% | 63,377 | $1.5M | Add +100.1% |
| RDCM Radcom Ltd. | 0.42% | 45,483 | $659K | Reduce -78.9% |
| SILC Silicom Ltd. | 0.31% | 27,435 | $486K | Reduce -75.8% |
| YEXT Yext Inc. | 0.20% | 36,350 | $310K | Add +82.7% |
| HBIO Harvard Bioscience Inc. | 0.14% | 491,092 | $215K | No change |
| ALLT Allot Ltd. | 0.11% | 15,749 | $167K | Reduce -75.9% |
| AIP Arteris Inc. | 0.10% | 15,871 | $160K | Reduce -82.4% |
| TTGT Techtarget Inc. | 0.10% | 26,998 | $157K | Reduce -73.0% |
| MPTI M-Tron Industries Inc. | 0.09% | 2,531 | $140K | New |
| GGAL Grupo Financiero Galicia-ADR | 0.07% | 4,000 | $110K | New |
| BBD Banco Bradesco-ADR | 0.06% | 29,400 | $99K | New |
| MCHX Marchex Inc. Class B | 0.06% | 48,829 | $88K | Reduce -24.2% |
| XCAFX Morgan Stanley China A Share | 0.05% | 4,868 | $81K | New |
Portfolio Sells Q2 2025 → Q3 2025
| SBH Sally Beauty Holdings Inc. | Sold out | 0.00% | −2.11 |
| RDCM Radcom Ltd. | Reduce -78.9% | 0.42% | −1.91 |
| METC Ramaco Resources Inc. Class A | Reduce -71.8% | 2.19% | −1.62 |
| TRC Tejon Ranch Co. | Sold out | 0.00% | −1.53 |
| EQX Equinox Gold Corp. | Sold out | 0.00% | −1.23 |
| FTK Flotek Industries Inc. | Reduce -22.1% | 1.91% | −1.16 |
| SILC Silicom Ltd. | Reduce -75.8% | 0.31% | −1.10 |
| ARHS Arhaus Inc. | Reduce -22.8% | 2.55% | −0.79 |
| IWM iShares Russell 2000 ETF | Sold out | 0.00% | −0.64 |
| VTMX Corp. Inmobiliaria Vesta-ADR | Sold out | 0.00% | −0.59 |
| AIP Arteris Inc. | Reduce -82.4% | 0.10% | −0.58 |
| TASEKO MINES LTD | Reduce -24.5% | 2.42% | −0.54 |
| TTGT Techtarget Inc. | Reduce -73.0% | 0.10% | −0.52 |
| ITRN Ituran Location and Control | Sold out | 0.00% | −0.46 |
| ALLT Allot Ltd. | Reduce -75.9% | 0.11% | −0.34 |
| VLRS Controladora Vuela Cia-ADR | Sold out | 0.00% | −0.30 |
| LGND Ligand Pharmaceuticals | Reduce -32.2% | 1.53% | −0.27 |
| EWZ iShares MSCI Brazil ETF | Sold out | 0.00% | −0.07 |
| MCHX Marchex Inc. Class B | Reduce -24.2% | 0.06% | −0.06 |
| SBSW Sibanye-Stillwater Ltd.-ADR | Sold out | 0.00% | −0.02 |
| OR Or Royalties Inc. | Reduce -11.2% | 2.39% | +0.25 |
| SEI Solaris Energy Infrastructur | Reduce -3.2% | 4.69% | +0.44 |
Portfolio Buys Q2 2025 → Q3 2025
| TTI Tetra Technologies Inc. | New | 2.72% | +2.72 |
| GDOT Green Dot Corp. Class A | New | 2.34% | +2.34 |
| TLS Telos Corporation | Add +48.0% | 3.39% | +2.07 |
| GROY Gold Royalty Corp. | New | 1.93% | +1.93 |
| MG Mistras Group Inc. | Add +51.7% | 4.06% | +1.36 |
| TMCI Treace Medical Concepts Inc. | New | 1.30% | +1.30 |
| UROY Uranium Royalty Corp. | Add +15.8% | 3.24% | +1.22 |
| ARAY Accuray Inc. | Add +67.8% | 2.56% | +1.01 |
| HOS Hornbeck Offshore Services I | Add +63.9% | 2.87% | +0.80 |
| METCB Ramaco Resources Inc. Class B | Add +1.2% | 1.98% | +0.80 |
| AOSL Alpha & Omega Semiconductor | Add +38.6% | 4.32% | +0.78 |
| KRMD Koru Medical Systems Inc. | Add +89.6% | 1.88% | +0.73 |
| RNGR Ranger Energy Services Class A | Add +52.8% | 2.04% | +0.63 |
| YTRA Yatra Online Inc. | Add +10.4% | 2.40% | +0.53 |
| PUBM Pubmatic Inc. Class A | Add +142.8% | 1.89% | +0.44 |
| AVNW Aviat Networks Inc. | Add +100.1% | 0.93% | +0.33 |
| GOLD Gold.com Inc. | Add +34.3% | 1.41% | +0.29 |
| VPG Vishay Precision Group | Add +20.9% | 1.78% | +0.18 |
| CRAI Cra International Inc. | Add +20.8% | 1.71% | +0.13 |
| MPTI M-Tron Industries Inc. | New | 0.09% | +0.09 |
| ANGO Angiodynamics Inc. | Add +12.7% | 3.57% | +0.08 |
| GGAL Grupo Financiero Galicia-ADR | New | 0.07% | +0.07 |
| YEXT Yext Inc. | Add +82.7% | 0.20% | +0.06 |
| BBD Banco Bradesco-ADR | New | 0.06% | +0.06 |
| XCAFX Morgan Stanley China A Share | New | 0.05% | +0.05 |
| HZO Marinemax Inc. | Add +24.9% | 2.14% | +0.03 |
| CTLP Cantaloupe Inc. | Add +29.4% | 1.40% | +0.01 |
| NGS Natural Gas Services Group | Add +8.2% | 3.89% | −0.22 |
| OPRT Oportun Financial Corp. | Add +20.4% | 3.54% | −0.69 |
| HCKT The Hackett Group Inc. | Add +10.3% | 1.50% | −0.75 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 7 | $1.4M | SLB, UAN, FSLR, MCHX, BBD |
| Q1 2026 | 9 | $1.4M | SLB, VTMX, MCHX, CRESY, NFGC |
| Q4 2025 | 1 | $497K | RDCM |
| Q3 2025Amended | 52 | $155.8M | SEI, AOSL, MG, NGS, ANGO |
| Q2 2025 | 53 | $125.7M | SEI, OPRT, NGS, GLDD, MCHB |
| Q1 2025 | 66 | $117.4M | MCHB, MG, NGS, INVX, ARHS |
| Q4 2024 | 63 | $121.8M | NGS, SEI, OPRT, AOSL, GLDD |
| Q3 2024 | 117 | $224.3M | SBH, MCHB, AAOI, SEI, HOS |
| Q2 2024 | 118 | $186.8M | ORN, NGVC, AOSL, ARHS, RRGB |
| Q1 2024 | 123 | $198.2M | ARHS, ORN, MCHB, NGVC, RRGB |