Western Standard LLC
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), Western Standard LLC reported 23 stock positions worth $150.1 million. Its top holding was First Financial Northwest (FFNW) at 13.3% of the portfolio, followed by Bristow (VTOL, 12.9%) and Abeona Therapeutics (ABEO, 7.7%). Compared with Q3 2024, it opened 7 new positions, sold out of 5, added to 13 and reduced 3. The biggest buy was First Financial Northwest (FFNW, shares +285%) and the biggest sale an exit from Irhythm (IRTC).
- Most Recent 13F
- Q2 2026
- Location
- Los Angeles, CA
- CIK
- 0001517666
- Portfolio Value
- $150.1M (Q4 2024)
- SEC Filing
- 0001104659-25-014155 ↗ filed Feb 14, 2025
Holdings Value
Holdings 23 stocks · $150.1M
| FFNW First Financial Northwest | 13.27% | 917,940 | $19.9M | Add +285.1% |
| VTOL Bristow Group Inc. | 12.87% | 563,318 | $19.3M | Add +41.5% |
| ABEO Abeona Therapeutics Inc. | 7.74% | 2,084,418 | $11.6M | Add +22.8% |
| MCY Mercury General Corp. | 6.54% | 147,643 | $9.8M | New |
| ECVT Ecovyst Inc. | 6.37% | 1,251,626 | $9.6M | Add +79.3% |
| MTTR Matterport Inc. | 5.14% | 1,628,724 | $7.7M | Add +120.6% |
| MLNK Meridianlink Inc. | 4.81% | 349,774 | $7.2M | New |
| K Kellanova | 4.54% | 84,250 | $6.8M | Add +31.6% |
| ATEC Alphatec Holdings Inc. | 4.44% | 726,373 | $6.7M | New |
| AIV Apartment Invt & Mgmt Co. Class A | 3.93% | 649,086 | $5.9M | Add +31.5% |
| OSG Octave Specialty Group Inc. filed as AMBAC FINL GROUP INC | 3.82% | 453,530 | $5.7M | Add +64.3% |
| UUP Invesco DB US Dollar Index B | 3.56% | 181,653 | $5.3M | New |
| ZUO Zuora Inc. Class A | 2.93% | 443,846 | $4.4M | Reduce -48.8% |
| YETI Yeti Holdings Inc. filed as YETI HLDGS INC | 2.87% | 111,667 | $4.3M | New |
| NBN Northeast Bank | 2.74% | 44,858 | $4.1M | Add +31.5% |
| GEN Gen Digital Inc. | 2.33% | 127,620 | $3.5M | Add +27.3% |
| PBPB Potbelly Corp. | 2.07% | 329,973 | $3.1M | Reduce -17.7% |
| EQC Equity Commonwealth | 1.95% | 1,652,275 | $2.9M | Add +132.8% |
| GEAR Revelyst Inc. | 1.88% | 146,525 | $2.8M | New |
| NNI Nelnet Inc. Class A | 1.74% | 24,471 | $2.6M | New |
| NVRO Nevro LLC filed as NEVRO CORP | 1.60% | 645,141 | $2.4M | Reduce -34.1% |
| TSVT 2SEVENTY Bio Inc. | 1.54% | 788,350 | $2.3M | Add +175.7% |
| EVRI Everi Holdings Inc. | 1.30% | 144,650 | $2.0M | Add +0.8% |
Portfolio Sells Q3 2024 → Q4 2024
| IRTC Irhythm Holdings Inc. | Sold out | 0.00% | −4.25 |
| ZUO Zuora Inc. Class A | Reduce -48.8% | 2.93% | −4.08 |
| TRS Trimas Corp. | Sold out | 0.00% | −4.05 |
| LW Lamb Weston Holdings Inc. | Sold out | 0.00% | −3.75 |
| NVRO Nevro LLC | Reduce -34.1% | 1.60% | −3.54 |
| MRC MRC Global Inc. | Sold out | 0.00% | −1.94 |
| HSTM Healthstream Inc. | Sold out | 0.00% | −1.79 |
| PBPB Potbelly Corp. | Reduce -17.7% | 2.07% | −1.07 |
Portfolio Buys Q3 2024 → Q4 2024
| FFNW First Financial Northwest | Add +285.1% | 13.27% | +8.24 |
| MCY Mercury General Corp. | New | 6.54% | +6.54 |
| MLNK Meridianlink Inc. | New | 4.81% | +4.81 |
| ATEC Alphatec Holdings Inc. | New | 4.44% | +4.44 |
| UUP Invesco DB US Dollar Index B | New | 3.56% | +3.56 |
| YETI Yeti Holdings Inc. | New | 2.87% | +2.87 |
| MTTR Matterport Inc. | Add +120.6% | 5.14% | +2.03 |
| ECVT Ecovyst Inc. | Add +79.3% | 6.37% | +1.88 |
| GEAR Revelyst Inc. | New | 1.88% | +1.88 |
| NNI Nelnet Inc. Class A | New | 1.74% | +1.74 |
| OSG Octave Specialty Group Inc. | Add +64.3% | 3.82% | +0.92 |
| TSVT 2SEVENTY Bio Inc. | Add +175.7% | 1.54% | +0.28 |
| NBN Northeast Bank | Add +31.5% | 2.74% | +0.27 |
| VTOL Bristow Group Inc. | Add +41.5% | 12.87% | −0.08 |
| GEN Gen Digital Inc. | Add +27.3% | 2.33% | −0.25 |
| AIV Apartment Invt & Mgmt Co. Class A | Add +31.5% | 3.93% | −0.26 |
| K Kellanova | Add +31.6% | 4.54% | −0.30 |
| EVRI Everi Holdings Inc. | Add +0.8% | 1.30% | −0.47 |
| ABEO Abeona Therapeutics Inc. | Add +22.8% | 7.74% | −2.33 |
| EQC Equity Commonwealth | Add +132.8% | 1.95% | −11.30 |
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 |