Western Standard LLC
In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 14, 2024), Western Standard LLC reported 21 stock positions worth $106.6 million. Its top holding was Equity Commonwealth (EQC) at 13.2% of the portfolio, followed by Bristow (VTOL, 13.0%) and Abeona Therapeutics (ABEO, 10.1%). Compared with Q2 2024, it opened 9 new positions, sold out of 10, added to 5 and reduced 7. The biggest buy was a new position in Nevro (NVRO) and the biggest sale an exit from Willscot (WSC).
- Most Recent 13F
- Q2 2026
- Location
- Los Angeles, CA
- CIK
- 0001517666
- Portfolio Value
- $106.6M (Q3 2024)
- SEC Filing
- 0000950123-24-011772 ↗ filed Nov 14, 2024
Holdings Value
Holdings 21 stocks · $106.6M
| EQC Equity Commonwealth | 13.25% | 709,582 | $14.1M | Reduce -3.8% |
| VTOL Bristow Group Inc. | 12.95% | 398,000 | $13.8M | Add +8.0% |
| ABEO Abeona Therapeutics Inc. | 10.07% | 1,698,097 | $10.7M | Add +7.0% |
| ZUO Zuora Inc. Class A | 7.01% | 866,785 | $7.5M | Add +14.8% |
| NVRO Nevro LLC filed as NEVRO CORP | 5.13% | 978,981 | $5.5M | New |
| FFNW First Financial Northwest | 5.04% | 238,347 | $5.4M | New |
| K Kellanova | 4.85% | 64,000 | $5.2M | New |
| ECVT Ecovyst Inc. | 4.49% | 698,036 | $4.8M | New |
| IRTC Irhythm Holdings Inc. | 4.25% | 61,082 | $4.5M | New |
| AIV Apartment Invt & Mgmt Co. Class A | 4.19% | 493,626 | $4.5M | Reduce -1.1% |
| TRS Trimas Corp. | 4.05% | 169,069 | $4.3M | Add +86.6% |
| LW Lamb Weston Holdings Inc. | 3.75% | 61,772 | $4.0M | New |
| PBPB Potbelly Corp. | 3.14% | 400,769 | $3.3M | Reduce -50.0% |
| MTTR Matterport Inc. | 3.12% | 738,217 | $3.3M | New |
| OSG Octave Specialty Group Inc. filed as AMBAC FINL GROUP INC | 2.90% | 275,963 | $3.1M | New |
| GEN Gen Digital Inc. | 2.58% | 100,237 | $2.7M | Reduce -0.9% |
| NBN Northeast Bank | 2.47% | 34,116 | $2.6M | Reduce -26.7% |
| MRC MRC Global Inc. | 1.94% | 162,561 | $2.1M | Add +23.6% |
| HSTM Healthstream Inc. | 1.79% | 66,004 | $1.9M | Reduce -66.0% |
| EVRI Everi Holdings Inc. | 1.77% | 143,450 | $1.9M | Reduce -1.2% |
| TSVT 2SEVENTY Bio Inc. | 1.27% | 285,931 | $1.3M | New |
Portfolio Sells Q2 2024 → Q3 2024
| WSC Willscot Holdings Corp. | Sold out | 0.00% | −6.62 |
| GPGI Gpgi Inc. | Sold out | 0.00% | −5.83 |
| CASH Pathward Financial Inc. | Sold out | 0.00% | −4.74 |
| HSTM Healthstream Inc. | Reduce -66.0% | 1.79% | −3.82 |
| RRGB Red Robin Gourmet Burgers | Sold out | 0.00% | −3.54 |
| PBPB Potbelly Corp. | Reduce -50.0% | 3.14% | −3.52 |
| ANGO Angiodynamics Inc. | Sold out | 0.00% | −3.30 |
| MRCY Mercury Systems Inc. | Sold out | 0.00% | −2.26 |
| EQC Equity Commonwealth | Reduce -3.8% | 13.25% | −1.57 |
| OFG Ofg Bancorp | Sold out | 0.00% | −1.29 |
| VRN Veren Inc. | Sold out | 0.00% | −1.14 |
| FAF First American Financial | Sold out | 0.00% | −0.95 |
| NODK Ni Holdings Inc. | Sold out | 0.00% | −0.50 |
| NBN Northeast Bank | Reduce -26.7% | 2.47% | −0.46 |
| AIV Apartment Invt & Mgmt Co. Class A | Reduce -1.1% | 4.19% | −0.10 |
| GEN Gen Digital Inc. | Reduce -0.9% | 2.58% | −0.04 |
| EVRI Everi Holdings Inc. | Reduce -1.2% | 1.77% | +0.51 |
Portfolio Buys Q2 2024 → Q3 2024
| NVRO Nevro LLC | New | 5.13% | +5.13 |
| FFNW First Financial Northwest | New | 5.04% | +5.04 |
| K Kellanova | New | 4.85% | +4.85 |
| ECVT Ecovyst Inc. | New | 4.49% | +4.49 |
| IRTC Irhythm Holdings Inc. | New | 4.25% | +4.25 |
| LW Lamb Weston Holdings Inc. | New | 3.75% | +3.75 |
| MTTR Matterport Inc. | New | 3.12% | +3.12 |
| ABEO Abeona Therapeutics Inc. | Add +7.0% | 10.07% | +3.10 |
| OSG Octave Specialty Group Inc. | New | 2.90% | +2.90 |
| TRS Trimas Corp. | Add +86.6% | 4.05% | +1.65 |
| TSVT 2SEVENTY Bio Inc. | New | 1.27% | +1.27 |
| MRC MRC Global Inc. | Add +23.6% | 1.94% | +0.18 |
| VTOL Bristow Group Inc. | Add +8.0% | 12.95% | +0.17 |
| ZUO Zuora Inc. Class A | Add +14.8% | 7.01% | −0.75 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 27 | $295.3M | GDOT, GLAS, CODI, ABVX, AVTR |
| Q1 2026 | 23 | $190.2M | GDOT, CODI, TFX, IOSP, OSG |
| Q4 2025 | 25 | $216.8M | SEM, ATEC, GDOT, IOSP, OSG |
| Q3 2025 | 22 | $187.0M | KROS, OSG, ATEC, SEM, DRVN |
| Q2 2025 | 20 | $179.7M | ECVT, KROS, ATEC, ABEO, TIGO |
| Q1 2025 | 29 | $170.1M | FFNW, VTOL, K, ATEC, ABEO |
| Q4 2024 | 23 | $150.1M | FFNW, VTOL, ABEO, MCY, ECVT |
| Q3 2024 | 21 | $106.6M | EQC, VTOL, ABEO, ZUO, NVRO |
| Q2 2024 | 22 | $96.6M | EQC, VTOL, ZUO, ABEO, PBPB |
| Q1 2024 | 22 | $106.1M | MACK, VTOL, ABEO, EQC, FIS |