Western Standard LLC

High-turnover traderSector-focusedMomentum follower

Total reported value

$190.2M

Reporting period: 2026-03-31 · Number of holdings: 23

Western Standard LLC disclosed 23 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $190.2M and a quarterly turnover rate of 103.0%.

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Personality snowflake

Concentration: 38.58
Portfolio Stability: 100
Momentum/Contrarian: 100
Sector conviction: 100
Diversification: 46
Sizing Uniformity: 88.71

Recent moves

Trim ATEC
-98.2%　-$26.2M
Add CODI
+169.3%　$19.1M
Add GDOT
+79.3%　$14.5M
Add ANGI
+774.1%　$6.5M
Trim OSG
-10.3%　-$9.0M
Trim NSP
-49.0%　-$5.4M

Holdings Map

New buyAddUnchangedTrim

Top 10 holdings by weight

Full holdings list this quarter

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	GDOT	Green Dot Corp-class A	Stock-Other	20.93%	+9.25%	+79.35%
2	CODI	Compass Diversified Holdings	Stock-Other	12.97%	+10.39%	+169.28%
3	TFX	Teleflex INC	Stock-Healthcare	11.63%	+11.63%	NEW
4	IOSP	Innospec INC	Stock-Other	8.71%	-0.77%	-15.48%
5	OSG	Octave Specialty Group INC	Stock-Other	5.50%	-3.49%	-10.26%
6	AVNW	Aviat Networks INC	Stock-Other	4.94%	+0.07%	-15.88%
7	ANGI	Angi INC	Stock-Other	4.37%	+3.54%	+774.06%
8	AIV	Apartment Invt & Mgmt Co -a	Stock-Other	3.48%	-1.12%	-3.17%
9	YETI	Yeti Holdings INC	Stock-Consumer Disc	3.12%	+3.12%	NEW
10	FIVE	Five Below	Stock-Consumer Disc	2.79%	-0.74%	-42.73%
11	DAVE	Dave INC	Stock-Other	2.76%	+2.76%	NEW
12	UUP	Invesco Db US Dollar Index B	ETF-Large Cap & Growth	2.71%	+0.40%	—
13	EZPW	Ezcorp Inc-cl A	Stock-Other	2.69%	-0.89%	-49.58%
14	FRPT	Freshpet INC	Stock-Consumer Staples	2.24%	+2.24%	NEW
15	WULF	Terawulf INC	Stock-Financials	2.09%	+2.09%	NEW
16	HNRG	Hallador Energy Co	Stock-Other	1.96%	+1.96%	NEW
17	NSP	Insperity INC	Stock-Other	1.56%	-2.29%	-49.01%
18	WEAV	Weave Communications INC	Stock-Other	1.25%	+1.25%	NEW
19	FFBC	First Financial Bancorp	Stock-Other	1.24%	+0.37%	+13.14%
20	ABUS	Arbutus Biopharma CORP	Stock-Other	1.23%	+0.10%	+2.70%
21	CWH	Camping World Holdings Inc-a	Stock-Other	1.10%	+1.10%	NEW
22	HAIN	Hain Celestial Group INC	Stock-Other	0.59%	+0.59%	NEW
23	ATEC	Alphatec Holdings INC	Stock-Other	0.13%	-12.05%	-98.21%

Reported value over time

Sector allocation

Sector allocation over time

Quarterly history

Period	Holdings	Total value	Stability	Top holdings
2026-03-31	23	$190.2M	100	1GDOT 2CODI 3TFX Top holdings2026-03-31 1.GDOT 2.CODI 3.TFX 4.IOSP 5.OSG 6.AVNW 7.ANGI 8.AIV 9.YETI 10.FIVE
2025-12-31	25	$216.8M	100	1SEM 2ATEC 3GDOT Top holdings2025-12-31 1.SEM 2.ATEC 3.GDOT 4.IOSP 5.OSG 6.AVNW 7.AIV 8.BLTE 9.NSP 10.EZPW
2025-09-30	24	$337.1M	100	1SPY 2KROS 3IWM Top holdings2025-09-30 1.SPY 2.KROS 3.IWM 4.OSG 5.ATEC 6.SEM 7.DRVN 8.EZPW 9.GDOT 10.CWCO
2025-06-30	20	$179.7M	0	1ECVT 2KROS 3ATEC Top holdings2025-06-30 1.ECVT 2.KROS 3.ATEC 4.ABEO 5.TIGO 6.PTB 7.YETI 8.CWCO 9.AIV 10.EZPW
2025-03-31	29	$170.1M	100	1FFIN 2VTOL 3KEL Top holdings2025-03-31 1.FFIN 2.VTOL 3.KEL 4.ATEC 5.ABEO 6.ECVT 7.TIGO 8.PTB 9.OSG 10.58985J
2024-12-31	23	$150.1M	0	1FFIN 2VTOL 3ABEO Top holdings2024-12-31 1.FFIN 2.VTOL 3.ABEO 4.MCY 5.ECVT 6.MTTR* 7.58985J 8.KEL 9.ATEC 10.AIV
2024-09-30	21	$106.6M	0	1HP5A 2VTOL 3ABEO Top holdings2024-09-30 1.HP5A 2.VTOL 3.ABEO 4.ZUOUSD 5.NVROEUR 6.FFIN 7.KEL 8.ECVT 9.IRTC 10.AIV
2024-06-30	22	$96.6M	0	1HP5A 2VTOL 3ZUOUSD Top holdings2024-06-30 1.HP5A 2.VTOL 3.ZUOUSD 4.ABEO 5.PTB 6.WSC 7.GPGI 8.HSTM 9.CASH 10.AIV
2024-03-31	24	$208.8M	0	1SPY 2MACKEUR 3IWM Top holdings2024-03-31 1.SPY 2.MACKEUR 3.IWM 4.VTOL 5.ABEO 6.HP5A 7.FIS 8.HSTM 9.CASH 10.ANGO
2023-12-31	31	$150.2M	0	1IWM 2MACKEUR 3VTOL Top holdings2023-12-31 1.IWM 2.MACKEUR 3.VTOL 4.HSTM 5.HP5A 6.ECVT 7.CASH 8.ATMU 9.ABEO 10.TPB
2023-09-30	28	$110.7M	0	1MACKEUR 2VTOL 3DOLE Top holdings2023-09-30 1.MACKEUR 2.VTOL 3.DOLE 4.HSTM 5.PLOW 6.ECVT 7.RLJ 1.95 PERP A 8.IRTC 9.OFIX 10.GPGI
2023-06-30	35	$116.1M	0	1MACKEUR 2VTOL 3ECVT Top holdings2023-06-30 1.MACKEUR 2.VTOL 3.ECVT 4.DOLE 5.PLOW 6.RLJ 1.95 PERP A 7.HSTM 8.IRTC 9.GPGI 10.TPB
2023-03-31	25	$98.6M	0	1MACKEUR 2VTOL 3ECVT Top holdings2023-03-31 1.MACKEUR 2.VTOL 3.ECVT 4.DOLE 5.RLJ 6.SEM 7.HSTM 8.BWXT 9.GPGI 10.AVTR
2022-12-31	28	$113.6M	0	1MACKEUR 2LHCGUSD 3OPNTEUR Top holdings2022-12-31 1.MACKEUR 2.LHCGUSD 3.OPNTEUR 4.VTOL 5.RLJ 6.AXTA 7.ECVT 8.PKE 9.SPB 10.SEM
2022-09-30	26	$87.4M	0	1LHCGUSD 2RLJ 1.95 PERP A 3TPB Top holdings2022-09-30 1.LHCGUSD 2.RLJ 1.95 PERP A 3.TPB 4.AXTA 5.DLAPQ 6.FET 9 08-04-25 7.VTOL 8.MACKEUR 9.PKE 10.VRSN
2022-06-30	37	$131.9M	0	1MIC2EUR 2DLAPQ3M8893U Top holdings2022-06-30 1.MIC2EUR 2.DLAPQ 3.M8893U 4.MACKEUR 5.RLJ 1.95 PERP A 6.RMR 7.ECVT 8.PKE 9.PFSWUSD 10.LW
2022-03-31	22	$105.3M	0	1FHN 2DLAPQ 3PFSWUSD Top holdings2022-03-31 1.FHN 2.DLAPQ 3.PFSWUSD 4.ECVT 5.MACKEUR 6.LW 7.IRTC 8.FET 9 08-04-25 9.RMR 10.RLJ 1.95 PERP A
2021-12-31	32	$169.0M	0	1G475672MRLNUSD 3FET 9 08-04-25 Top holdings2021-12-31 1.G47567 2.MRLNUSD 3.FET 9 08-04-25 4.FTSI1USD 5.PFSWUSD 6.DLAPQ 7.RMR 8.AHQ 9.LW 10.MCS
2021-09-30	32	$175.8M	0	1G475672MRLNUSD 3XLRN Top holdings2021-09-30 1.G47567 2.MRLNUSD 3.XLRN 4.FET 9 08-04-25 5.PFSWUSD 6.DLAPQ 7.MACKEUR 8.24279D 9.VGREUR 10.RMR
2021-06-30	34	$170.0M	100	1ALXN 2WORK 3MRLNUSD Top holdings2021-06-30 1.ALXN 2.WORK 3.MRLNUSD 4.FET 9 08-04-25 5.MACKEUR 6.VGREUR 7.MCS 8.RMR 9.PFSWUSD 10.DLAPQ
2021-03-31	30	$140.3M	88	1ALXN 2VAREUR 3WORK Top holdings2021-03-31 1.ALXN 2.VAREUR 3.WORK 4.FET 9 08-04-25 5.MACKEUR 6.MCS 7.AT 8.VGREUR 9.RMR 10.DLAPQ
2020-12-31	31	$87.4M	100	1MACKEUR 2VGREUR 3ORI Top holdings2020-12-31 1.MACKEUR 2.VGREUR 3.ORI 4.MCS 5.FET 9 08-04-25 6.RMR 7.AAMI 8.DLAPQ 9.ILPT 10.WINA
2020-09-30	32	$88.1M	90	1IMMU 2GPRE 4.125 09-01-22 3RLJ 1.95 PERP A Top holdings2020-09-30 1.IMMU 2.GPRE 4.125 09-01-22 3.RLJ 1.95 PERP A 4.ILPT 5.RMR 6.ECHO 7.FET 9 08-04-25 8.MACKEUR 9.WINA 10.NNI
2020-06-30	26	$83.4M	87	1LMEUR 2GPRE 4.125 09-01-22 3RLJ 1.95 PERP A Top holdings2020-06-30 1.LMEUR 2.GPRE 4.125 09-01-22 3.RLJ 1.95 PERP A 4.ILPT 5.ECHO 6.RMR 7.TPB 8.OSG 9.NNI 10.SDA
2020-03-31	34	$108.3M	100	1G0177J2RLJ 1.95 PERP A 3GPRE 4.125 09-01-22 Top holdings2020-03-31 1.G0177J 2.RLJ 1.95 PERP A 3.GPRE 4.125 09-01-22 4.N96617 5.ECHO 6.RMR 7.ILPT 8.NNI 9.TPB 10.OSG
2019-12-31	40	$128.4M	39	1RLJ 1.95 PERP A 2MRLNUSD 3UUP Top holdings2019-12-31 1.RLJ 1.95 PERP A 2.MRLNUSD 3.UUP 4.STAYUSD 5.DLAPQ 6.GPRE 4.125 09-01-22 7.CASH 8.ALLY 9.ILPT 10.G6375R
2019-09-30	39	$126.2M	75	1RLJ 1.95 PERP A 2MRLNUSD 3UUP Top holdings2019-09-30 1.RLJ 1.95 PERP A 2.MRLNUSD 3.UUP 4.PENN 5.STAYUSD 6.CELG 7.ALLY 8.CASH 9.DLAPQ 10.ILPT
2019-06-30	39	$135.3M	52	1MRLNUSD 2APC3EUR 3UUP Top holdings2019-06-30 1.MRLNUSD 2.APC3EUR 3.UUP 4.RLJ 1.95 PERP A 5.RHT1EUR 6.ILPT 7.PENN 8.LORLUSD 9.ALLY 10.NNI
2019-03-31	40	$112.8M	62	1UUP 2RLJ 1.95 PERP A 3MRLNUSD Top holdings2019-03-31 1.UUP 2.RLJ 1.95 PERP A 3.MRLNUSD 4.RHT1EUR 5.ILPT 6.MSTR 7.ECHO 8.LORLUSD 9.GOOGL 10.GPRE
2018-12-31	44	$126.0M	74	1UUP 2RHT1EUR 3CCK Top holdings2018-12-31 1.UUP 2.RHT1EUR 3.CCK 4.MRLNUSD 5.RLJ 1.95 PERP A 6.ILPT 7.GPRE 8.OFS 9.CAPL 10.ARCPEUR
2018-09-30	48	$113.2M	53	1UUP229414D3ILPT Top holdings2018-09-30 1.UUP 2.29414D 3.ILPT 4.MRLNUSD 5.LORLUSD 6.N70544 7.OFS 8.RLJ 1.95 PERP A 9.INAPEUR 10.ARCPEUR
2018-06-30	50	$98.8M	77	1UUP 2ILPT 3MRLNUSD Top holdings2018-06-30 1.UUP 2.ILPT 3.MRLNUSD 4.47023A 5.OFS 6.LORLUSD 7.ARCPEUR 8.N70544 9.RLJ 1.95 PERP A 10.MSTR
2018-03-31	51	$112.9M	51	173936D2KYN 3ILPT Top holdings2018-03-31 1.73936D 2.KYN 3.ILPT 4.MRLNUSD 5.OFS 6.HP5A 7.ENB 8.ARCPEUR 9.N70544 10.47023A
2017-12-31	48	$85.9M	68	173936D2KYN 3OFS Top holdings2017-12-31 1.73936D 2.KYN 3.OFS 4.MRLNUSD 5.82812A 6.ENB 7.ENB 8.MCS 9.92211L 10.N70544
2017-09-30	42	$75.8M	75	173936D2OFS 3NCMIEUR Top holdings2017-09-30 1.73936D 2.OFS 3.NCMIEUR 4.ENB 5.MRLNUSD 6.RGCGBP 7.WFC 8.LORLUSD 9.MCS 10.47023A
2017-06-30	51	$73.3M	90	173936D2OFS 3LORLUSD Top holdings2017-06-30 1.73936D 2.OFS 3.LORLUSD 4.MRLNUSD 5.861811 6.47023A 7.FRGIUSD 8.AMC 9.IBKR 10.ENB
2017-03-31	40	$64.5M	57	1OFS 2IVC 5 02-15-21 3GLPI Top holdings2017-03-31 1.OFS 2.IVC 5 02-15-21 3.GLPI 4.MRLNUSD 5.LORLUSD 6.HLF 2 08-15-19 7.73936D 8.345605 9.IBKR 10.CECO1EUR
2016-12-31	32	$47.3M	—	1OFS 2LORLUSD373936D Top holdings2016-12-31 1.OFS 2.LORLUSD 3.73936D 4.72348Y 5.MRLNUSD 6.345605 7.IBKR 8.HLF 2 08-15-19 9.MCS 10.CWST

Holding changes this quarter

Western Standard LLC's most significant position changes for 2026-03-31: Sold out: Select Medical Holdings CORP (SEM); New buy: Teleflex INC (TFX); Sold out: Belite Bio INC - Adr (BLTE); New buy: Yeti Holdings INC (YETI); New buy: Dave INC (DAVE).

Position changes disclosed by Western Standard LLC for the quarter ending 2026-03-31, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	CODI	Compass Diversified Holdings	+10.4%	+169.28%	Add
2	GDOT	Green Dot Corp-class A	+9.3%	+79.35%	Add
3	ANGI	Angi INC	+3.5%	+774.06%	Add
4	UUP	Invesco Db US Dollar Index B	+0.4%	—	Unchanged
5	FFBC	First Financial Bancorp	+0.4%	+13.14%	Add
6	ABUS	Arbutus Biopharma CORP	+0.1%	+2.70%	Add
7	AVNW	Aviat Networks INC	+0.1%	-15.88%	Trim
8	FIVE	Five Below	-0.7%	-42.73%	Trim
9	IOSP	Innospec INC	-0.8%	-15.48%	Trim
10	EZPW	Ezcorp Inc-cl A	-0.9%	-49.58%	Trim
11	AIV	Apartment Invt & Mgmt Co -a	-1.1%	-3.17%	Trim
12	NSP	Insperity INC	-2.3%	-49.01%	Trim
13	OSG	Octave Specialty Group INC	-3.5%	-10.26%	Trim
14	ATEC	Alphatec Holdings INC	-12.1%	-98.21%	Trim
15	SEM	Select Medical Holdings CORP	—	EXIT	Sold out
16	TFX	Teleflex INC	—	NEW	New buy
17	BLTE	Belite Bio INC - Adr	—	EXIT	Sold out
18	YETI	Yeti Holdings INC	—	NEW	New buy
19	DAVE	Dave INC	—	NEW	New buy
20	DRVN	Driven Brands Holdings INC	—	EXIT	Sold out
21	✓	Mister Car Wash INC	—	EXIT	Sold out
22	FRPT	Freshpet INC	—	NEW	New buy
23	NX	Quanex Building Products	—	EXIT	Sold out
24	WULF	Terawulf INC	—	NEW	New buy
25	HNRG	Hallador Energy Co	—	NEW	New buy
26	WEAV	Weave Communications INC	—	NEW	New buy
27	GOOGL	Alphabet Inc-cl A	—	EXIT	Sold out
28	CWH	Camping World Holdings Inc-a	—	NEW	New buy
29	FOXF	Fox Factory Holding CORP	—	EXIT	Sold out
30	SVV	Savers Value Village INC	—	EXIT	Sold out
31	UPBD	Upbound Group INC	—	EXIT	Sold out
32	SNCR	Synchronoss Technologies INC	—	EXIT	Sold out
33	HAIN	Hain Celestial Group INC	—	NEW	New buy
34	LKFT	Lakefront Biotherapeutic-adr	—	EXIT	Sold out

FAQ

What is Western Standard LLC and what type of investor is it?

Western Standard LLC is a investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-03-31), the firm manages a tracked equity portfolio valued at approximately $190.2M, spread across 23 disclosed positions.

What are Western Standard LLC's largest equity positions?

Based on the latest 13F filing, Western Standard LLC's top holdings by market value are: 1. Green Dot Corp-class A (GDOT) — $39.8M (20.9%) 2. Compass Diversified Holdings (CODI) — $24.7M (13.0%) 3. Teleflex INC (TFX) — $22.1M (11.6%) 4. Innospec INC (IOSP) — $16.6M (8.7%) 5. Octave Specialty Group INC (OSG) — $10.5M (5.5%)

What changes did Western Standard LLC make in its most recent portfolio filing?

In the latest reported quarter, Western Standard LLC made 33 notable position adjustments: 9 new positions were initiated, 5 existing holdings were added to, 8 positions were partially reduced, and 11 were completely exited. The largest of these moves: Sold out: Select Medical Holdings CORP (SEM); New buy: Teleflex INC (TFX); Sold out: Belite Bio INC - Adr (BLTE); New buy: Yeti Holdings INC (YETI); New buy: Dave INC (DAVE)

What sectors does Western Standard LLC focus on?

Western Standard LLC is concentrated in the following sectors based on its current disclosed equity portfolio: • Health Care: 53.2% • Consumer Discretionary: 27.0% • Consumer Staples: 10.3% • Financials: 9.5%