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Western Standard LLC

5757 WILSHIRE BLVD SUITE 636, LOS ANGELES, CA 90036 • 3109294303

Q3 2025 · Filed 2025-11-12
Market Value
$187M
+9.6%
Holdings
30
+2
New Purchases
11
Added To
3
Closed
8
Reduced
3
Top 10 Concentration
74.7%
Turnover
63.3%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
AMBC 11.78% 0.00% +11.78% $22M
SEM 7.25% 0.00% +7.25% $14M
KROS 18.53% 12.01% +6.51% $35M
BBWI 3.62% 0.00% +3.62% $7M
FIVE 3.36% 0.00% +3.36% $6M
MCW 2.22% 0.00% +2.22% $4M
FRPT 1.89% 0.00% +1.89% $4M
DRVN 5.97% 4.22% +1.76% $11M
SXT 1.73% 0.00% +1.73% $3M
ATEC 9.76% 8.17% +1.59% $18M
ABUS 1.23% 0.00% +1.23% $2M
GDOT 4.79% 3.67% +1.12% $9M
IOSP 1.11% 0.00% +1.11% $2M
EZPW 5.40% 4.31% +1.08% $10M
CMA 1.08% 0.00% +1.08% $2M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
ECVT 0.00% 17.21% -17.21% $0
TIGO 0.00% 6.90% -6.90% $0
PBPB 0.00% 6.66% -6.66% $0
YETI 2.10% 6.18% -4.08% $4M
0H7R.L 3.53% 6.97% -3.44% $7M
NBN 0.00% 2.77% -2.77% $0
NNI 0.00% 2.58% -2.58% $0
CWCO 4.00% 5.70% -1.70% $7M
EVRI 0.00% 1.21% -1.21% $0
PRTS 0.00% 0.83% -0.83% $0
AVNW 3.29% 3.78% -0.49% $6M
K 0.00% 0.42% -0.42% $0
UUP 2.73% 2.92% -0.19% $5M

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Financial Services 37.5%
Industrials 15.5%
Healthcare 13.9%
Basic Materials 9.3%
Consumer Cyclical 7.5%

Market Cap Concentration

TierHoldingsValueWeight
Large Cap 4 $8M 4.4%
Mid Cap 9 $48M 25.8%
Small Cap 13 $113M 60.2%
Micro Cap 4 $18M 9.5%

Portfolio Analytics

Avg Market Cap
$3.6B
Median Market Cap
$1.7B
Avg P/E
27.6
Median P/E
17.3
Avg Dividend Yield
0.01%
Avg Beta
0.93
# Stocks
29
# ETFs / Funds
1

Top Holdings (30 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 KROS 18.53% 2,189,882 $35M $15.82 $14M +654,989 +42.7%
2 AMBC 11.78% 2,641,351 $22M $8.34 +2,641,351 NEW
3 ATEC 9.76% 1,255,374 $18M $14.54 $4M
4 SEM 7.25% 1,055,357 $14M $12.84 +1,055,357 NEW
5 DRVN 5.97% 693,413 $11M $16.11 $4M +283,736 +69.3%
6 EZPW 5.40% 530,000 $10M $19.04 $3M
7 GDOT 4.79% 666,330 $9M $13.43 $3M +85,945 +14.8%
8 CWCO 4.00% 211,785 $7M $35.28 -$2M -111,900 -34.6%
9 NPK 3.64% 60,730 $7M $112.15 $862K
10 BBWI 3.62% 263,061 $7M $25.76 +263,061 NEW
11 0H7R.L 3.53% 1,249,957 $7M $5.28 -$5M -841,641 -40.2%
12 FIVE 3.36% 40,600 $6M $154.70 +40,600 NEW
13 AVNW 3.29% 267,906 $6M $22.93 -$300K
14 UUP 2.73% 185,453 $5M $27.51 $117K
15 MCW 2.22% 777,482 $4M $5.33 +777,482 NEW
16 YETI 2.10% 118,455 $4M $33.18 -$7M -215,862 -64.6%
17 FRPT 1.89% 64,000 $4M $55.11 +64,000 NEW
18 SXT 1.73% 34,452 $3M $93.85 +34,452 NEW
19 ABUS 1.23% 507,853 $2M $4.54 +507,853 NEW
20 IOSP 1.11% 27,000 $2M $77.16 +27,000 NEW
21 CMA 1.08% 29,500 $2M $68.52 +29,500 NEW
22 FIGS 1.00% 278,440 $2M $6.69 +278,440 NEW
23 EVRI —% -$2M -144,650 -100.0% SOLD
24 K —% -$719K -9,039 -100.0% SOLD
25 PRTS —% -$1M -1,923,737 -100.0% SOLD
26 NNI —% -$4M -36,315 -100.0% SOLD
27 TIGO —% -$12M -313,943 -100.0% SOLD
28 NBN —% -$5M -53,078 -100.0% SOLD
29 PBPB —% -$11M -927,593 -100.0% SOLD
30 ECVT —% -$29M -3,566,876 -100.0% SOLD

Options Breakdown

0 Calls $0 Call Value 2 Puts $150M Put Value

Top Puts

SymbolSharesValueStatus
SPY 180,000 $120M NEW
IWM 125,000 $30M NEW

New Positions

SymbolValue% Port
AMBC $22M 11.78%
SEM $14M 7.25%
BBWI $7M 3.62%
FIVE $6M 3.36%
MCW $4M 2.22%
FRPT $4M 1.89%
SXT $3M 1.73%
ABUS $2M 1.23%
IOSP $2M 1.11%
CMA $2M 1.08%
FIGS $2M 1.00%

Sold Out Positions

SymbolValue% Port
ECVT —%
NNI —%
TIGO —%
PRTS —%
NBN —%
EVRI —%
K —%
PBPB —%
View SEC EDGAR Filings for Western Standard LLC →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms