ACUITAS INVESTMENTS LLC
Q1 2025 Form 13-F

SEATTLE, WASHINGTON
CIK 0001524828 · CRD 155782 · SEC-registered investment adviser
Holdings reported by Vident Advisory LLC since Q1 2026 , Dean Capital Management since Q4 2024
Consolidated report · includes 1 manager since Q4 2022
$117.4M Reported Value Total

ACUITAS INVESTMENTS, LLC reports 10 total accounts under management (AUM). There are 10 discretionary accounts valued at $1,286,544,829, and 0 non-discretionary accounts.

Source: Form ADV filed * Note that certain holdings are exempt from Form 13-F reporting, so the AUM totals may be greater than the Form 13-F total.
SEC Registered Discretionary Manager
Firm Brochure (Part 2A)
Private funds (Form ADV)
2 funds · $4.8M gross asset value
Other: $4.0M · Hedge Fund: $790.8K
Source: Form ADV filed 2026-04-16
Reported value
$117.4M
Quarter over quarter
-11.1%
Holdings
66
Top-10 concentration
35.2%

Filing Structure

Reports holdings for

  • Seven Canyons Advisors, LLC (not a 13F filer in our records) · since Q4 2022 · declared by one filing
  • Cobia Capital Management LP (not a 13F filer in our records) · Q2 2022 – Q4 2025 · declared by one filing
  • WEBER CAPITAL MANAGEMENT LLC ADV · Q3 2025 – Q3 2025 · declared by one filing
  • SIGNIA CAPITAL MANAGEMENT LLC · File #028-12115 · Q3 2020 – Q3 2025 · declared by one filing
  • Weber Capital Management LLC (not a 13F filer in our records) · Q2 2023 – Q2 2025 · declared by one filing
  • MAC Alpha Capital Management LP (not a 13F filer in our records) · Q2 2023 – Q1 2025 · declared by one filing
  • Peapod Lane Capital LLC (not a 13F filer in our records) · Q2 2023 – Q3 2024 · declared by one filing
  • SEVEN CANYONS ADVISORS, LLC (not a 13F filer in our records) · Q3 2021 – Q3 2022 · declared by one filing
  • MEROS INVESTMENT MANAGEMENT, LP (not a 13F filer in our records) · Q2 2020 – Q4 2021 · declared by one filing
  • AltraVue Capital (not a 13F filer in our records) · Q1 2018 – Q3 2018 · declared by one filing

Holdings reported by

Key People

Form ADV owners & control persons
Dennis Wesley Jensen
MANAGER
Christopher David Tessin
MANAGER AND MEMBER
Lisa Marie Thenell
CHIEF COMPLIANCE OFFICER/CHIEF OPERATING OFFICER
Q4 2024
Q2 2025
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Q1 2025 13F filing summary

Period of report March 31, 2025
Filed April 28, 2025
Form 13F-HR
Reported value $117.4M
Positions 66
Change in reported value -3.6%
New positions 16
Exited positions 13
Position turnover 36.7%
Top-10 concentration 35.2%

13F filings by quarter

Quarter Positions Value
Q3 2026 13F
Filed Nov 6, 2026
 13 $2.6M
Q2 2026 13F
Filed Jul 30, 2026
 7 $1.4M
Q1 2026 13F
Filed Apr 29, 2026
 9 $1.4M
Q4 2025 13F
Filed Jan 27, 2026
 1 $496.5M
Q3 2025 13F
Filed Nov 3, 2025
 52 $155.8M
Q2 2025 13F
Filed Jul 31, 2025
 53 $125.7M
Q1 2025 13F
Filed Apr 28, 2025
 66 $117.4M
Q4 2024 13F
Filed Jan 31, 2025
 63 $121.8M
Q3 2024 13F
Filed Nov 7, 2024
 117 $224.3M
Q2 2024 13F
Filed Aug 5, 2024
 118 $186.8M
Q1 2024 13F
Filed May 10, 2024
 123 $198.2M
Q4 2023 13F
Filed Feb 2, 2024
 116 $191.5M
Q3 2023 13F
Filed Oct 27, 2023
 115 $170.1M
Q2 2023 13F
Filed Aug 7, 2023
 106 $171.7M
Q1 2023 13F
Filed May 2, 2023
 41 $96.8M
Q4 2022 13F
Filed Feb 6, 2023
 38 $99.1M
Q3 2022 13F
Filed Nov 2, 2022
 40 $96.5M
Q2 2022 13F
Filed Aug 3, 2022
 41 $103.7M
Q1 2022 13F
Filed May 6, 2022
 32 $106.4M
Q4 2021 13F
Filed Feb 8, 2022
 65 $234.9M

9 earlier quarters on file — choose one from the quarter menu above.

Top 20 holdings · Q1 2025

# Holding Reported value % of portfolio
1 HMST HOMESTREET INC $4.5M 3.83%
2 MG MISTRAS GROUP INC $4.5M 3.82%
3 NGS NATURAL GAS SVCS GROUP INC $4.4M 3.75%
4 INVX INNOVEX INTERNATIONAL INC $4.3M 3.68%
5 ARHS ARHAUS INC $4.2M 3.59%
6 ANGO ANGIODYNAMICS INC $4.2M 3.54%
7 OPRT OPORTUN FINL CORP $3.9M 3.34%
8 PGNY PROGYNY INC $3.9M 3.29%
9 SEI SOLARIS ENERGY INFRAS INC $3.7M 3.18%
10 GLDD GREAT LAKES DREDGE & DOCK CO $3.7M 3.14%
11 AOSL ALPHA & OMEGA SEMICONDUCTOR $3.6M 3.1%
12 HLX HELIX ENERGY SOLUTIONS GRP I $3.5M 2.95%
13 HCKT HACKETT GROUP INC $3.2M 2.77%
14 TRC TEJON RANCH CO $3.2M 2.76%
15 EQX EQUINOX GOLD CORP $3.1M 2.62%
16 LGND LIGAND PHARMACEUTICALS INC $2.9M 2.46%
17 INBK FIRST INTERNET BANCORP $2.8M 2.39%
18 FTK FLOTEK INDS INC DEL $2.7M 2.28%
19 TGB TASEKO MINES LTD $2.6M 2.25%
20 APLD APPLIED DIGITAL CORP $2.6M 2.25%

Values as reported on the Q1 2025 Form 13F. Every position is in the holdings table below.

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