Nierenberg Investment Management Company, LLC

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 13, 2025), Nierenberg Investment Management Company, LLC reported 46 stock positions worth $170.9 million. Its top holding was Mr Cooper (COOP) at 20.4% of the portfolio, followed by Potbelly (PBPB, 16.4%) and Cantaloupe (CTLP, 14.7%). Compared with Q3 2024, it opened 4 new positions, sold out of 5, added to 8 and reduced 5. The biggest buy was a new position in Criteo SA-Spon (CRTO) and the biggest sale Fluor (FLR, shares −72%).

Most Recent 13F
Q2 2026
Location
Camas, WA
CIK
0001282683
Portfolio Value
$170.9M (Q4 2024)
SEC Filing
0001941040-25-000148 ↗ filed Feb 13, 2025

Holdings Value

0$50.0M$100.0M$150.0M$200.0M$250.0M Q1 2024: $171.0M Q1 2024 Q2 2024: $170.6M Q2 2024 Q3 2024: $166.9M Q3 2024 Q4 2024: $170.9M $170.9M Q4 2024 Q1 2025: $171.2M Q1 2025 Q2 2025: $171.4M Q2 2025 Q3 2025: $180.9M Q3 2025 Q4 2025: $198.2M Q4 2025 Q1 2026: $200.8M Q1 2026 Q2 2026: $201.4M Q2 2026

Holdings 46 stocks · $170.9M
COOP Mr Cooper Group Inc. 20.39% 363,004 $34.9M No change
PBPB Potbelly Corp. 16.43% 2,980,564 $28.1M No change
CTLP Cantaloupe Inc. 14.70% 2,641,658 $25.1M No change
EQT Eqt Corp. 14.48% 536,693 $24.7M No change
EBC Eastern Bankshares Inc. 6.19% 613,088 $10.6M No change
RVSB Riverview Bancorp Inc. 4.32% 1,286,422 $7.4M Add +21.3%
FLR Fluor Corp. 3.54% 122,555 $6.0M Reduce -71.6%
KBR KBR Inc. 1.72% 50,710 $2.9M No change
ADTN Adtran Holdings Inc. 1.67% 343,110 $2.9M No change
CNXC Concentrix Corp. 1.63% 64,480 $2.8M Add +87.9%
CRTO Criteo SA-Spon 1.56% 67,555 $2.7M New
EXE Expand Energy Corp. 1.14% 19,555 $1.9M Add +7568.6%
MTCH Match Group Inc. 1.10% 57,230 $1.9M No change
ECVT Ecovyst Inc. 1.02% 228,810 $1.7M Add +0.5%
BFH Bread Financial Holdings Inc. 0.99% 27,680 $1.7M Add +33.9%
TPC Tutor Perini Corp. 0.94% 66,680 $1.6M Reduce -27.3%
CLFD Clearfield Inc. 0.75% 41,510 $1.3M Reduce -27.8%
HOPE Hope Bancorp Inc. 0.72% 99,555 $1.2M No change
HOS Hornbeck Offshore Services I filed as HELIX ENERGY SOLUTIONS GRP I 0.68% 124,450 $1.2M Add +9.7%
FFIC Flushing Financial Corp. 0.65% 77,555 $1.1M No change
RRC Range Resources Corp. 0.62% 29,555 $1.1M No change
GIFI Gulf Island Fabrication Inc. 0.62% 155,555 $1.1M No change
DHC Diversified Healthcare Trust 0.61% 456,110 $1.0M No change
APP AppLovin Corp. Class A 0.48% 2,555 $827K Reduce -43.9%
BKD Brookdale Senior Living Inc. 0.47% 160,110 $805K No change
MTRX Matrix Service Co. 0.35% 49,555 $593K No change
PLPC Preformed Line Products Co. 0.34% 4,555 $582K New
ARHS Arhaus Inc. 0.33% 59,310 $558K No change
PLAB Photronics Inc. 0.32% 23,330 $550K No change
OSK Oshkosh Corp. 0.32% 5,750 $547K Add +3.5%
DXC DXC Technology Co. 0.16% 13,555 $271K No change
SSUP Superior Industries Intl 0.15% 128,793 $263K Add +15.4%
PFIE Profire Energy Inc. 0.11% 72,555 $184K No change
BGFV Big 5 Sporting Goods Corp. 0.07% 67,555 $121K New
OIS Oil States International Inc. filed as OIL STS INTL INC 0.07% 23,555 $119K New
ARRY Array Technologies Inc. 0.07% 19,555 $118K No change
UFI Unifi Inc. 0.06% 17,555 $110K No change
FFWM First Foundation Inc. 0.06% 15,555 $97K No change
SCYX Scynexis Inc. 0.05% 75,555 $91K No change
ENZB Enzo Biochem Inc. 0.04% 88,555 $63K No change
NAGE Niagen Bioscience Inc. filed as CHROMADEX CORP 0.04% 11,555 $61K No change
WTI W&T Offshore Inc. 0.01% 13,555 $23K No change
OLPX Olaplex Holdings Inc. 0.01% 12,555 $22K No change
CYH Community Health Systems Inc. 0.01% 5,555 $17K Reduce -96.4%
VISN Vistance Networks Inc. filed as COMMSCOPE HLDG CO INC 0.01% 2,555 $13K No change
CTMX Cytomx Therapeutics Inc. 0.01% 12,555 $13K No change

Options reported separately and not counted above: EQT calls ($5.3M), ADTN calls ($1.7M), EXE calls ($1.4M), CYH calls ($598K), VISN calls ($261K).

Portfolio Sells Q3 2024 → Q4 2024
FLR Fluor Corp. Reduce -71.6% 3.54% −8.82
SWN Southwestern Energy Co. Sold out 0.00% −0.85
CLFD Clearfield Inc. Reduce -27.8% 0.75% −0.59
HELE Helen of Troy Ltd. Sold out 0.00% −0.56
CYH Community Health Systems Inc. Reduce -96.4% 0.01% −0.56
TPC Tutor Perini Corp. Reduce -27.3% 0.94% −0.55
PREMIER INC-CLASS A Sold out 0.00% −0.44
HOFT Hooker Furnishings Corp. Sold out 0.00% −0.13
ALGT Allegiant Travel Co. Sold out 0.00% −0.00
APP AppLovin Corp. Class A Reduce -43.9% 0.48% +0.13

Portfolio Buys Q3 2024 → Q4 2024
CRTO Criteo SA-Spon New 1.56% +1.56
RVSB Riverview Bancorp Inc. Add +21.3% 4.32% +1.33
EXE Expand Energy Corp. Add +7568.6% 1.14% +1.13
CNXC Concentrix Corp. Add +87.9% 1.63% +0.58
BFH Bread Financial Holdings Inc. Add +33.9% 0.99% +0.40
PLPC Preformed Line Products Co. New 0.34% +0.34
ECVT Ecovyst Inc. Add +0.5% 1.02% +0.09
BGFV Big 5 Sporting Goods Corp. New 0.07% +0.07
OIS Oil States International Inc. New 0.07% +0.07
OSK Oshkosh Corp. Add +3.5% 0.32% −0.01
SSUP Superior Industries Intl Add +15.4% 0.15% −0.05
HOS Hornbeck Offshore Services I Add +9.7% 0.68% −0.08

Options Activity Q3 2024 → Q4 2024
BFH Bread Financial Holdings Inc. call Sold out 26,000 $1.2Mbefore exit
ALGT Allegiant Travel Co. call Sold out 4,000 $220Kbefore exit

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 35$201.4MSGOV, EQT, CRTO, LYFT, CART
Q1 2026 44$200.8MSGOV, EQT, CRTO, LYFT, KBR
Q4 2025 43$198.2MSGOV, EQT, RKT, CRTO, LYFT
Q3 2025 40$180.9MPBPB, EQT, COOP, LYFT, RVSB
Q2 2025 39$171.4MCOOP, PBPB, EQT, CRTO, RVSB
Q1 2025 47$171.2MCOOP, EQT, PBPB, CTLP, CRTO
Q4 2024 46$170.9MCOOP, PBPB, CTLP, EQT, EBC
Q3 2024 47$166.9MCOOP, PBPB, FLR, EQT, CTLP
Q2 2024 45$170.6MCOOP, PBPB, FLR, EQT, CTLP
Q1 2024 35$171.0MCOOP, PBPB, FLR, EQT, CTLP