Western Standard LLC
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 5, 2026), Western Standard LLC reported 23 stock positions worth $190.2 million. Its top holding was Green Dot Class A (GDOT) at 20.9% of the portfolio, followed by Compass Diversified (CODI, 13.0%) and Teleflex (TFX, 11.6%). Compared with Q4 2025, it opened 9 new positions, sold out of 11, added to 5 and reduced 8. The biggest buy was a new position in Teleflex (TFX) and the biggest sale an exit from Select Medical (SEM).
- Most Recent 13F
- Q2 2026
- Location
- Los Angeles, CA
- CIK
- 0001517666
- Portfolio Value
- $190.2M (Q1 2026)
- SEC Filing
- 0001193125-26-205384 ↗ filed May 5, 2026
Holdings Value
Holdings 23 stocks · $190.2M
| GDOT Green Dot Corp. Class A | 20.93% | 3,546,626 | $39.8M | Add +79.3% |
| CODI Compass Diversified Holdings | 12.97% | 3,137,156 | $24.7M | Add +169.3% |
| TFX Teleflex Inc. | 11.63% | 184,817 | $22.1M | New |
| IOSP Innospec Inc. | 8.71% | 226,833 | $16.6M | Reduce -15.5% |
| OSG Octave Specialty Group Inc. | 5.50% | 2,247,591 | $10.5M | Reduce -10.3% |
| AVNW Aviat Networks Inc. | 4.94% | 415,752 | $9.4M | Reduce -15.9% |
| ANGI Angi Inc. | 4.37% | 1,213,557 | $8.3M | Add +774.1% |
| AIV Apartment Invt & Mgmt Co. Class A | 3.48% | 1,626,624 | $6.6M | Reduce -3.2% |
| YETI Yeti Holdings Inc. filed as YETI HLDGS INC | 3.12% | 162,000 | $5.9M | New |
| FIVE Five Below | 2.79% | 23,252 | $5.3M | Reduce -42.7% |
| DAVE Dave Inc. | 2.76% | 30,156 | $5.2M | New |
| UUP Invesco DB US Dollar Index B | 2.71% | 185,453 | $5.2M | No change |
| EZPW Ezcorp Inc. Class A | 2.69% | 201,679 | $5.1M | Reduce -49.6% |
| FRPT Freshpet Inc. | 2.24% | 72,400 | $4.3M | New |
| WULF Terawulf Inc. | 2.09% | 274,876 | $4.0M | New |
| HNRG Hallador Energy Co. | 1.96% | 228,662 | $3.7M | New |
| NSP Insperity Inc. | 1.56% | 109,933 | $3.0M | Reduce -49.0% |
| WEAV Weave Communications Inc. | 1.25% | 514,093 | $2.4M | New |
| FFBC First Financial Bancorp filed as 1ST FINL BANCORP | 1.24% | 84,857 | $2.4M | Add +13.1% |
| ABUS Arbutus Biopharma Corp. | 1.23% | 521,587 | $2.3M | Add +2.7% |
| CWH Camping World Holdings Inc. Class A | 1.10% | 307,500 | $2.1M | New |
| HAIN Hain Celestial Group Inc. | 0.59% | 1,617,037 | $1.1M | New |
| ATEC Alphatec Holdings Inc. | 0.13% | 22,493 | $245K | Reduce -98.2% |
Portfolio Sells Q4 2025 → Q1 2026
| SEM Select Medical Holdings Corp. | Sold out | 0.00% | −14.14 |
| ATEC Alphatec Holdings Inc. | Reduce -98.2% | 0.13% | −12.05 |
| BLTE Belite Bio Inc. - ADR | Sold out | 0.00% | −4.43 |
| OSG Octave Specialty Group Inc. | Reduce -10.3% | 5.50% | −3.49 |
| NSP Insperity Inc. | Reduce -49.0% | 1.56% | −2.29 |
| DRVN Driven Brands Holdings Inc. | Sold out | 0.00% | −2.07 |
| MCW Mister Car Wash Inc. | Sold out | 0.00% | −2.05 |
| NX Quanex Building Products | Sold out | 0.00% | −1.95 |
| AIV Apartment Invt & Mgmt Co. Class A | Reduce -3.2% | 3.48% | −1.12 |
| GOOGL Alphabet Inc. Class A | Sold out | 0.00% | −1.01 |
| FOXF Fox Factory Holding Corp. | Sold out | 0.00% | −0.95 |
| EZPW Ezcorp Inc. Class A | Reduce -49.6% | 2.69% | −0.89 |
| SVV Savers Value Village Inc. | Sold out | 0.00% | −0.86 |
| UPBD Upbound Group Inc. | Sold out | 0.00% | −0.81 |
| SNCR Synchronoss Technologies Inc. | Sold out | 0.00% | −0.77 |
| IOSP Innospec Inc. | Reduce -15.5% | 8.71% | −0.76 |
| FIVE Five Below | Reduce -42.7% | 2.79% | −0.73 |
| LKFT Lakefront Biotherapeutic-ADR | Sold out | 0.00% | −0.48 |
| AVNW Aviat Networks Inc. | Reduce -15.9% | 4.94% | +0.07 |
Portfolio Buys Q4 2025 → Q1 2026
| TFX Teleflex Inc. | New | 11.63% | +11.63 |
| CODI Compass Diversified Holdings | Add +169.3% | 12.97% | +10.39 |
| GDOT Green Dot Corp. Class A | Add +79.3% | 20.93% | +9.24 |
| ANGI Angi Inc. | Add +774.1% | 4.37% | +3.54 |
| YETI Yeti Holdings Inc. | New | 3.12% | +3.12 |
| DAVE Dave Inc. | New | 2.76% | +2.76 |
| FRPT Freshpet Inc. | New | 2.24% | +2.24 |
| WULF Terawulf Inc. | New | 2.09% | +2.09 |
| HNRG Hallador Energy Co. | New | 1.96% | +1.96 |
| WEAV Weave Communications Inc. | New | 1.25% | +1.25 |
| CWH Camping World Holdings Inc. Class A | New | 1.10% | +1.10 |
| HAIN Hain Celestial Group Inc. | New | 0.59% | +0.59 |
| FFBC First Financial Bancorp | Add +13.1% | 1.24% | +0.38 |
| ABUS Arbutus Biopharma Corp. | Add +2.7% | 1.23% | +0.11 |
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 |