Nierenberg Investment Management Company, LLC

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 11, 2025), Nierenberg Investment Management Company, LLC reported 39 stock positions worth $171.4 million. Its top holding was Mr Cooper (COOP) at 25.8% of the portfolio, followed by Potbelly (PBPB, 21.3%) and Eqt (EQT, 18.3%). Compared with Q1 2025, it opened 3 new positions, sold out of 11, added to 5 and reduced 9. The biggest buy was Criteo SA-Spon (CRTO, shares +101%) and the biggest sale an exit from Cantaloupe (CTLP).

Most Recent 13F
Q2 2026
Location
Camas, WA
CIK
0001282683
Portfolio Value
$171.4M (Q2 2025)
SEC Filing
0001941040-25-000474 ↗ filed Aug 11, 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 Q4 2024 Q1 2025: $171.2M Q1 2025 Q2 2025: $171.4M $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 39 stocks · $171.4M
COOP Mr Cooper Group Inc. 25.78% 296,054 $44.2M Reduce -12.2%
PBPB Potbelly Corp. 21.31% 2,980,564 $36.5M No change
EQT Eqt Corp. 18.27% 536,693 $31.3M No change
CRTO Criteo SA-Spon 7.49% 535,702 $12.8M Add +101.0%
RVSB Riverview Bancorp Inc. 6.22% 1,937,775 $10.7M Add +18.7%
GDOT Green Dot Corp. Class A 2.13% 339,110 $3.7M Add +337.3%
ADTN Adtran Holdings Inc. 1.80% 343,110 $3.1M Reduce -21.1%
BKD Brookdale Senior Living Inc. 1.67% 410,110 $2.9M No change
CNXC Concentrix Corp. 1.56% 50,480 $2.7M Reduce -21.7%
KBR KBR Inc. 1.50% 53,710 $2.6M No change
TPC Tutor Perini Corp. 1.22% 44,680 $2.1M Reduce -33.0%
ECVT Ecovyst Inc. 1.10% 228,810 $1.9M No change
EXE Expand Energy Corp. 1.06% 15,555 $1.8M Reduce -20.5%
MTCH Match Group Inc. 1.02% 56,680 $1.8M Reduce -1.0%
DHC Diversified Healthcare Trust 0.95% 456,110 $1.6M No change
CLFD Clearfield Inc. 0.87% 34,510 $1.5M Reduce -14.8%
RRC Range Resources Corp. 0.70% 29,555 $1.2M No change
HOPE Hope Bancorp Inc. 0.62% 99,555 $1.1M No change
BFH Bread Financial Holdings Inc. 0.51% 15,380 $879K New
WNC Wabash National Corp. 0.48% 77,555 $824K Add +39.6%
SEB Seaboard Corp. 0.48% 286 $818K No change
HOS Hornbeck Offshore Services I filed as HELIX ENERGY SOLUTIONS GRP I 0.45% 124,450 $777K No change
PLPC Preformed Line Products Co. 0.42% 4,555 $728K No change
LYFT LYFT Inc. Class A 0.39% 42,555 $671K New
OSK Oshkosh Corp. 0.38% 5,750 $653K No change
PLAB Photronics Inc. 0.38% 34,330 $646K Add +47.1%
OIS Oil States International Inc. filed as OIL STS INTL INC 0.35% 111,555 $598K No change
ARHS Arhaus Inc. 0.30% 59,310 $514K No change
FLR Fluor Corp. 0.20% 6,555 $336K No change
DXC DXC Technology Co. 0.12% 13,555 $207K No change
DHX Dhi Group Inc. 0.08% 44,555 $132K No change
GIFI Gulf Island Fabrication Inc. 0.07% 17,555 $117K Reduce -82.4%
SCYX Scynexis Inc. 0.03% 75,555 $51K No change
OSUR Orasure Technologies Inc. 0.02% 11,555 $35K New
CTMX Cytomx Therapeutics Inc. 0.02% 12,555 $29K No change
NNBR NN Inc. 0.02% 13,555 $28K Reduce -93.9%
WTI W&T Offshore Inc. 0.01% 13,555 $22K No change
OLPX Olaplex Holdings Inc. 0.01% 12,555 $18K No change
BRY Berry Corp. 0.01% 5,555 $15K No change

Options reported separately and not counted above: GEV puts ($4.9M), QQQ puts ($3.4M), NVDA puts ($1.7M), CEG puts ($1.6M), EXE calls ($1.6M), VRT puts ($1.2M), AVGO puts ($882K), ANET puts ($573K), ETN puts ($571K), BRY calls ($443K).

Portfolio Sells Q1 2025 → Q2 2025
CTLP Cantaloupe Inc. Sold out 0.00% −11.34
BREAD FINANCIAL HLDGS (BFH 4.25 06/15/28) Sold out 0.00% −0.81
FFIC Flushing Financial Corp. Sold out 0.00% −0.58
CNXC Concentrix Corp. Reduce -21.7% 1.56% −0.54
ADTN Adtran Holdings Inc. Reduce -21.1% 1.80% −0.42
SSUP Superior Industries Intl Sold out 0.00% −0.41
MTRX Matrix Service Co. Sold out 0.00% −0.32
GIFI Gulf Island Fabrication Inc. Reduce -82.4% 0.07% −0.31
NNBR NN Inc. Reduce -93.9% 0.02% −0.28
EXE Expand Energy Corp. Reduce -20.5% 1.06% −0.21
ARRY Array Technologies Inc. Sold out 0.00% −0.06
UFI Unifi Inc. Sold out 0.00% −0.05
FFWM First Foundation Inc. Sold out 0.00% −0.05
NAGE Niagen Bioscience Inc. Sold out 0.00% −0.05
BGFV Big 5 Sporting Goods Corp. Sold out 0.00% −0.04
MTCH Match Group Inc. Reduce -1.0% 1.02% −0.02
ENZB Enzo Biochem Inc. Sold out 0.00% −0.02
CLFD Clearfield Inc. Reduce -14.8% 0.87% +0.17
TPC Tutor Perini Corp. Reduce -33.0% 1.22% +0.32
COOP Mr Cooper Group Inc. Reduce -12.2% 25.78% +2.22

Portfolio Buys Q1 2025 → Q2 2025
CRTO Criteo SA-Spon Add +101.0% 7.49% +1.98
GDOT Green Dot Corp. Class A Add +337.3% 2.13% +1.75
RVSB Riverview Bancorp Inc. Add +18.7% 6.22% +0.83
BFH Bread Financial Holdings Inc. New 0.51% +0.51
LYFT LYFT Inc. Class A New 0.39% +0.39
WNC Wabash National Corp. Add +39.6% 0.48% +0.12
PLAB Photronics Inc. Add +47.1% 0.38% +0.09
OSUR Orasure Technologies Inc. New 0.02% +0.02

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