Cannell Capital LLC
In its 13F for Q3 2024 (holdings as of September 30, 2024, filed February 11, 2025), Cannell Capital LLC reported 47 stock positions worth $455.9 million. Its top holding was North American Construction (NOA) at 7.6% of the portfolio, followed by Gpgi (GPGI, 6.5%) and Cavco Industries (CVCO, 6.3%). Compared with Q2 2024, it opened 1 new position, sold out of 12, added to 18 and reduced 24. The biggest buy was USA Today (TDAY, shares +356%) and the biggest sale Arlo Technologies (ARLO, shares −13%).
- Most Recent 13F
- Q2 2026
- Location
- ALTA, WY
- CIK
- 0001058854
- Portfolio Value
- $455.9M (Q3 2024)
- SEC Filing
- 0001941040-25-000111 ↗ filed Feb 11, 2025
Holdings Value
Holdings 47 stocks · $455.9M
| NOA North American Construction | 7.63% | 1,861,501 | $34.8M | Add +8.9% |
| GPGI Gpgi Inc. filed as COMPOSECURE INC | 6.49% | 2,109,659 | $29.6M | Reduce -14.6% |
| CVCO Cavco Industries Inc. | 6.34% | 67,551 | $28.9M | Add +5.5% |
| TRUE Truecar Inc. | 5.58% | 7,374,635 | $25.4M | Reduce -15.8% |
| PRSU Pursuit Attractions and Hosp filed as VIAD CORP | 5.43% | 690,920 | $24.8M | Add +3.9% |
| UTI Universal Technical Institut | 5.31% | 1,489,053 | $24.2M | Add +3.3% |
| MDXG Mimedx Group Inc. | 4.67% | 3,599,310 | $21.3M | Add +8.3% |
| INSE Inspired Entertainment Inc. | 4.00% | 1,966,434 | $18.2M | Add +1.3% |
| ARLO Arlo Technologies Inc. | 3.75% | 1,413,712 | $17.1M | Reduce -13.3% |
| TDAY USA Today Co. Inc. filed as GANNETT CO INC | 3.74% | 3,033,416 | $17.0M | Add +356.1% |
| SNDL SNDL Inc. | 3.72% | 8,231,260 | $17.0M | Add +74.9% |
| BBW Build-A-Bear Workshop Inc. | 3.53% | 468,799 | $16.1M | Add +0.8% |
| LPRO Open Lending Corp. | 3.47% | 2,586,000 | $15.8M | Reduce -1.6% |
| NXDR Nextdoor Holdings Inc. | 3.38% | 6,209,232 | $15.4M | Add +56.0% |
| TIPT Tiptree Inc. | 3.25% | 757,415 | $14.8M | Reduce -14.1% |
| CLH Clean Harbors Inc. | 3.24% | 61,057 | $14.8M | Reduce -21.3% |
| LDI Loandepot Inc. Class A | 2.97% | 4,965,301 | $13.6M | Reduce -9.6% |
| COMP Compass Inc. Class A | 2.85% | 2,125,655 | $13.0M | Reduce -12.7% |
| ARKO Arko Corp. | 2.68% | 1,739,614 | $12.2M | Add +114.5% |
| OSUR Orasure Technologies Inc. | 2.32% | 2,472,023 | $10.6M | Reduce -5.2% |
| EEX Emerald Holding Inc. | 2.27% | 2,076,728 | $10.4M | Add +11.0% |
| LMB Limbach Holdings Inc. | 1.94% | 117,003 | $8.9M | Reduce -5.2% |
| SPWH Sportsman's Warehouse Holdin | 1.50% | 2,517,839 | $6.8M | Reduce -25.6% |
| GBLI Global Indemnity Group LLC-A | 1.46% | 199,767 | $6.6M | Add +10.7% |
| SWKH SWK Holdings Corp. filed as SWK HLDGS CORP | 1.45% | 381,838 | $6.6M | Reduce -39.8% |
| SJT San Juan Basin Royalty TR | 1.13% | 1,386,640 | $5.1M | Add +49.1% |
| COMPOSECURE HOLDINGS LLC | 0.81% | 2,626,000 | $3.7M | Reduce -53.3% |
| FTHM Fathom Holdings Inc. | 0.62% | 1,089,444 | $2.8M | Reduce -20.1% |
| GOLD Gold.com Inc. filed as A-MARK PRECIOUS METALS INC | 0.54% | 55,985 | $2.5M | Reduce -22.3% |
| MNTX Manitex International Inc. | 0.48% | 390,400 | $2.2M | No change |
| LEE Lee Enterprises | 0.41% | 213,806 | $1.9M | Reduce -30.2% |
| NBIS Nebius Group NV | 0.39% | 341,104 | $1.8M | No change |
| PPIH Perma-Pipe International Hol | 0.35% | 124,615 | $1.6M | Reduce -23.9% |
| LAZYDAYS HLDGS INC | 0.34% | 1,037,782 | $1.6M | Reduce -23.5% |
| LUCK Lucky Strike Entertainment C filed as BOWLERO CORP | 0.31% | 121,594 | $1.4M | Add +3.9% |
| TTSH Tile Shop Hldgs Inc. | 0.23% | 162,391 | $1.1M | Reduce -31.1% |
| DGICA Donegal Group Inc. Class A | 0.23% | 72,100 | $1.1M | No change |
| STIM Neuronetics Inc. | 0.22% | 1,314,266 | $999K | Reduce -44.8% |
| WINA Winmark Corp. | 0.18% | 2,200 | $842K | No change |
| PNRG Primeenergy Resources Corp. | 0.18% | 5,866 | $808K | Reduce -31.7% |
| NTIP Network-1 Technologies Inc. | 0.14% | 451,147 | $632K | Reduce -15.7% |
| GSAT Globalstar Inc. | 0.12% | 448,647 | $556K | Add +179.7% |
| GRWG Growgeneration Corp. | 0.08% | 175,761 | $374K | Reduce -52.3% |
| APLD Applied Digital Corp. | 0.08% | 42,161 | $348K | Add +37.7% |
| CONTEXTLOGIC INC - A | 0.07% | 61,570 | $336K | New |
| HYFM Hydrofarm Hldgs Group Inc. | 0.06% | 384,753 | $265K | Add +35.6% |
| TACT Transact Technologies Inc. | 0.04% | 39,841 | $194K | Reduce -59.1% |
Options reported separately and not counted above: CAVA puts ($30.0M).
Other holdings (1): bonds, preferreds, convertibles and warrants · $194K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| CMPOW Composecure Inc. -CW25 | *W EXP 12/27/202 | 51,350 | $194K | New |
Total filed on the 13F, all lines: $456.1M.
Portfolio Sells Q2 2024 → Q3 2024
| ARLO Arlo Technologies Inc. | Reduce -13.3% | 3.75% | −1.33 |
| SWKH SWK Holdings Corp. | Reduce -39.8% | 1.45% | −1.13 |
| ONT Onterris Inc. | Sold out | 0.00% | −1.12 |
| TRUE Truecar Inc. | Reduce -15.8% | 5.58% | −0.98 |
| CLH Clean Harbors Inc. | Reduce -21.3% | 3.24% | −0.96 |
| LINC Lincoln Educational Services | Sold out | 0.00% | −0.89 |
| STIM Neuronetics Inc. | Reduce -44.8% | 0.22% | −0.81 |
| COMPOSECURE HOLDINGS LLC | Reduce -53.3% | 0.81% | −0.54 |
| LAZYDAYS HLDGS INC | Reduce -23.5% | 0.34% | −0.48 |
| SPWH Sportsman's Warehouse Holdin | Reduce -25.6% | 1.50% | −0.46 |
| LEE Lee Enterprises | Reduce -30.2% | 0.41% | −0.41 |
| OSUR Orasure Technologies Inc. | Reduce -5.2% | 2.32% | −0.34 |
| IIPR Innovative Industrial Proper | Sold out | 0.00% | −0.24 |
| CRON Cronos Group Inc. | Sold out | 0.00% | −0.24 |
| TIPT Tiptree Inc. | Reduce -14.1% | 3.25% | −0.23 |
| NBBK NB Bancorp Inc. | Sold out | 0.00% | −0.18 |
| TYG Tortoise Energy Infrastruct | Sold out | 0.00% | −0.18 |
| XTTPX Tortoise Pipeline & Energy | Sold out | 0.00% | −0.18 |
| TTSH Tile Shop Hldgs Inc. | Reduce -31.1% | 0.23% | −0.16 |
| SHCR Sharecare Inc. | Sold out | 0.00% | −0.14 |
| ALTISOURCE PORTFOLIO SOLNS S | Sold out | 0.00% | −0.13 |
| DELL Dell Technologies -C | Sold out | 0.00% | −0.12 |
| PETXQ Wag! Group Co. | Sold out | 0.00% | −0.12 |
| GRWG Growgeneration Corp. | Reduce -52.3% | 0.08% | −0.11 |
| NTIP Network-1 Technologies Inc. | Reduce -15.7% | 0.14% | −0.09 |
| TACT Transact Technologies Inc. | Reduce -59.1% | 0.04% | −0.05 |
| PNRG Primeenergy Resources Corp. | Reduce -31.7% | 0.18% | −0.04 |
| LPRO Open Lending Corp. | Reduce -1.6% | 3.47% | −0.04 |
| FORUM ENERGY TECHNOLOGIE (FET 9 08/04/25) | Sold out | 0.00% | −0.03 |
| GOLD Gold.com Inc. | Reduce -22.3% | 0.54% | −0.02 |
| PPIH Perma-Pipe International Hol | Reduce -23.9% | 0.35% | +0.01 |
| FTHM Fathom Holdings Inc. | Reduce -20.1% | 0.62% | +0.06 |
| LMB Limbach Holdings Inc. | Reduce -5.2% | 1.94% | +0.26 |
| COMP Compass Inc. Class A | Reduce -12.7% | 2.85% | +0.75 |
| LDI Loandepot Inc. Class A | Reduce -9.6% | 2.97% | +0.80 |
| GPGI Gpgi Inc. | Reduce -14.6% | 6.49% | +2.47 |
Portfolio Buys Q2 2024 → Q3 2024
| TDAY USA Today Co. Inc. | Add +356.1% | 3.74% | +3.01 |
| SNDL SNDL Inc. | Add +74.9% | 3.72% | +1.58 |
| ARKO Arko Corp. | Add +114.5% | 2.68% | +1.46 |
| CVCO Cavco Industries Inc. | Add +5.5% | 6.34% | +1.04 |
| NXDR Nextdoor Holdings Inc. | Add +56.0% | 3.38% | +0.73 |
| BBW Build-A-Bear Workshop Inc. | Add +0.8% | 3.53% | +0.72 |
| SJT San Juan Basin Royalty TR | Add +49.1% | 1.13% | +0.22 |
| GBLI Global Indemnity Group LLC-A | Add +10.7% | 1.46% | +0.11 |
| GSAT Globalstar Inc. | Add +179.7% | 0.12% | +0.08 |
| CONTEXTLOGIC INC - A | New | 0.07% | +0.07 |
| APLD Applied Digital Corp. | Add +37.7% | 0.08% | +0.03 |
| PRSU Pursuit Attractions and Hosp | Add +3.9% | 5.43% | +0.02 |
| HYFM Hydrofarm Hldgs Group Inc. | Add +35.6% | 0.06% | +0.01 |
| LUCK Lucky Strike Entertainment C | Add +3.9% | 0.31% | −0.09 |
| UTI Universal Technical Institut | Add +3.3% | 5.31% | −0.11 |
| INSE Inspired Entertainment Inc. | Add +1.3% | 4.00% | −0.25 |
| NOA North American Construction | Add +8.9% | 7.63% | −0.25 |
| EEX Emerald Holding Inc. | Add +11.0% | 2.27% | −0.27 |
| MDXG Mimedx Group Inc. | Add +8.3% | 4.67% | −0.84 |
Options Activity Q2 2024 → Q3 2024
| SOUN Soundhound AI Inc. Class A | put | Sold out | 319,300 | $1.3Mbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q2 2024 → Q3 2024
| CMPOW Composecure Inc. -CW25 | *W EXP 12/27/202 | New | 51,350 | $194K |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 34 | $143.2M | ASIC, SNDL, NOA, CHEGG INC (CHGG 0 09/01/26), LIFE |
| Q1 2026 | 35 | $154.0M | NOA, SNDL, ASIC, NPKI, ETON |
| Q4 2025 | 36 | $156.7M | NOA, SNDL, NPKI, NGS, MDXG |
| Q3 2025 | 55 | $380.9M | SNDL, GPGI, CVCO, NOA, TPB |
| Q2 2025 | 55 | $320.0M | GPGI, NOA, CVCO, SJT, NPKI |
| Q1 2025 | 45 | $295.7M | NOA, CVCO, GPGI, COMP, SJT |
| Q4 2024 | 48 | $485.8M | CVCO, NOA, UTI, MDXG, GPGI |
| Q3 2024Amended | 47 | $455.9M | NOA, GPGI, CVCO, TRUE, PRSU |
| Q2 2024 | 58 | $418.0M | NOA, TRUE, MDXG, UTI, PRSU |
| Q1 2024 | 52 | $445.4M | NOA, TRUE, CVCO, ARLO, PRSU |