Western Standard LLC's Q3 2026 13F: 20 new positions, 12 exits
Form 13F-HR for the quarter ended Sep 30, 2026 · filed Nov 9, 2026 · 35 reported positions · accession 0001193125-26-453251
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| New | WARNER BROS DISCOVERY INC (WBD) | — | 12.0% | +12.0 pts | +1.48M sh | new |
| Exited | INNOSPEC INC (IOSP) | 6.5% | — | −6.5 pts | −237K sh | −100% |
| Exited | ELECTRONIC ARTS INC (EA) | 6.1% | — | −6.1 pts | −87,900 sh | −100% |
| New | DRIVEN BRANDS HLDGS INC (DRVN) | — | 5.8% | +5.8 pts | +1.88M sh | new |
| Reduced | AVANTOR INC (AVTR) | 7.1% | 2.9% | −4.2 pts | −1.39M sh | −66% |
| New | REVOLUTION MEDICINES INC (RVMD) | — | 5.4% | +5.4 pts | +100K sh | new |
| New | APOLLO COML REAL ESTATE FIN (ARI) | — | 5.1% | +5.1 pts | +3.13M sh | new |
| Exited | BOBS DISC FURNITURE INC (BOBS) | 2.7% | — | −2.7 pts | −503K sh | −100% |
| New | SAVERS VALUE VLG INC (SVV) | — | 2.2% | +2.2 pts | +902K sh | new |
| New | VESTIS CORPORATION (VSTS) | — | 2.2% | +2.2 pts | +621K sh | new |
| New | ARHAUS INC (ARHS) | — | 1.8% | +1.8 pts | +728K sh | new |
| Increased | CONSOLIDATED WATER CO INC (CWCO) | 2.5% | 3.6% | +1.1 pts | +241K sh | +96% |
| Exited | COOPER COS INC (COO) | 1.8% | — | −1.8 pts | −72,900 sh | −100% |
| New | EVOLV TECHNOLOGIES HLDNGS IN (EVLV) | — | 1.7% | +1.7 pts | +1.42M sh | new |
| Exited | ANGIODYNAMICS INC (ANGO) | 1.7% | — | −1.7 pts | −387K sh | −100% |
| New | DECKERS OUTDOOR CORP (DECK) | — | 1.7% | +1.7 pts | +82,500 sh | new |
| Increased | COMPASS DIVERSIFIED (CODI) | 9.6% | 9.3% | −0.3 pts | +584K sh | +22% |
| Increased | AH RLTY TR INC (AHH) | 3.1% | 3.7% | +0.6 pts | +1.02M sh | +79% |
| Increased | AVIAT NETWORKS INC (AVNW) | 2.3% | 3.2% | +0.9 pts | +303K sh | +101% |
| New | CONCRETE PUMPING HLDGS INC (BBCP) | — | 1.6% | +1.6 pts | +614K sh | new |
| Exited | INHIBRX BIOSCIENCES INC (INBX) | 1.5% | — | −1.5 pts | −47,000 sh | −100% |
| Increased | STAGWELL INC (STGW) | 2.9% | 3.7% | +0.7 pts | +550K sh | +47% |
| New | BANC OF CALIFORNIA INC (BANC) | — | 1.1% | +1.1 pts | +250K sh | new |
| New | SKYX PLATFORMS CORP (SKYX) | — | 1.1% | +1.1 pts | +3.68M sh | new |
| New | LIMONEIRA CO (LMNR) | — | 1.1% | +1.1 pts | +350K sh | new |
| Reduced | FRESHPET INC (FRPT) | 2.5% | 0.9% | −1.6 pts | −64,600 sh | −51% |
| Exited | ARBUTUS BIOPHARMA CORP (ABUS) | 0.9% | — | −0.9 pts | −543K sh | −100% |
| Exited | GENIUS SPORTS LIMITED (GENI) | 0.8% | — | −0.8 pts | −400K sh | −100% |
| Exited | MERCADOLIBRE INC (MELI) | 0.8% | — | −0.8 pts | −1,400 sh | −100% |
| Exited | CHEWY INC (CHWY) | 0.7% | — | −0.7 pts | −111K sh | −100% |
| Exited | OLLIES BARGAIN OUTLET HLDGS (OLLI) | 0.7% | — | −0.7 pts | −28,000 sh | −100% |
| New | DAVE INC (DAVE) | — | 0.7% | +0.7 pts | +8,600 sh | new |
| Increased | ABIVAX SA (ABVX) | 9.0% | 5.9% | −3.2 pts | +25,550 sh | +13% |
| Increased | RED ROBIN GOURMET BURGERS IN (RRGB) | 0.2% | 0.8% | +0.5 pts | +308K sh | +349% |
| New | ARKO CORP (ARKO) | — | 0.6% | +0.6 pts | +540K sh | new |
| Reduced | FIRST WATCH RESTAURANT GROUP (FWRG) | 2.2% | 0.9% | −1.4 pts | −191K sh | −37% |
| New | PRESTIGE CONSMR HEALTHCARE I (PBH) | — | 0.5% | +0.5 pts | +41,200 sh | new |
| New | WEST COAST COMMUNITY BANCORP (WCCB) | — | 0.5% | +0.5 pts | +29,800 sh | new |
| New | PRIVATE BANCORP OF AMER INC (PBAM) | — | 0.5% | +0.5 pts | +20,739 sh | new |
| Increased | GREEN DOT CORP (GDOT) | 14.8% | 10.9% | −3.9 pts | +133K sh | +4% |
| New | FOX FACTORY HLDG CORP (FOXF) | — | 0.4% | +0.4 pts | +85,319 sh | new |
| New | EL POLLO LOCO HLDGS INC (LOCO) | — | 0.1% | +0.1 pts | +27,493 sh | new |
| Exited | HOLLEY INC (HLLY) | 0.1% | — | −0.1 pts | −92,896 sh | −100% |
| Reduced | GLASS HOUSE BRANDS INC (GLAS) | 11.9% | 4.0% | −7.9 pts | −21,667 sh | −1% |
Reported by the fund in its Form 13F filed with the SEC; holdings are as of the quarter-end report date and may have changed since. For informational purposes only — not investment advice or a recommendation to buy or sell any security. FilingExplorer is not affiliated with or endorsed by this fund. How this brief is compiled
Top 10 positions — 65.7% of the equity book
Changes in the top 10 this quarter: WBD entered · DRVN entered · RVMD entered · ARI entered · AVTR left · IOSP left · EA left · OSG left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | WARNER BROS DISCOVERY INC (WBD) | 0.0% | 12.0% | Entered the top 10 |
| 2 | GREEN DOT CORP (GDOT) | 14.8% | 10.9% | |
| 3 | COMPASS DIVERSIFIED (CODI) | 9.6% | 9.3% | |
| 4 | ABIVAX SA (ABVX) | 9.0% | 5.9% | |
| 5 | DRIVEN BRANDS HLDGS INC (DRVN) | 0.0% | 5.8% | Entered the top 10 |
| 6 | REVOLUTION MEDICINES INC (RVMD) | 0.0% | 5.4% | Entered the top 10 |
| 7 | APOLLO COML REAL ESTATE FIN (ARI) | 0.0% | 5.1% | Entered the top 10 |
| 8 | GLASS HOUSE BRANDS INC (GLAS) | 11.9% | 4.0% | |
| 9 | AH RLTY TR INC (AHH) | 3.1% | 3.7% | |
| 10 | STAGWELL INC (STGW) | 2.9% | 3.7% | |
| — | AVANTOR INC (AVTR) | 7.1% | 2.9% | Left the top 10 |
| — | INNOSPEC INC (IOSP) | 6.5% | 0.0% | Left the top 10 |
| — | ELECTRONIC ARTS INC (EA) | 6.1% | 0.0% | Left the top 10 |
| — | OCTAVE SPECIALTY GROUP INC (OSG) | 4.8% | 2.4% | Left the top 10 |
Weights are each position's reported value as a share of the fund's reported equity positions (options and principal-amount holdings excluded).
Option positions (puts and calls)
Reported separately from the positions above. The value a 13F reports for an option is that of the underlying shares, not the option itself.
| Activity | Security | Type | Shares before | Shares now | Reported value |
|---|---|---|---|---|---|
| New | ISHARES TR (IWM) | Put | 0 | 158K | $43.8M |