# SIGNIA CAPITAL MANAGEMENT LLC

> Institutional holdings reported to the SEC as of Q2 2020 on Form 13F. CIK 1131908. Source: https://holderbook.com/funds/1131908-signia-capital-management-llc/

- Reported value: $55.7M
- Positions: 24
- Weight of the ten largest: 59.7%
- Filed: 2020-08-10

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| STERLING INFRASTRUCTURE INC | [STRL](https://holderbook.com/stocks/STRL/) | $3.7M | 353,953 | 6.7% | 7 |
| BANCORP INC DEL | [TBBK](https://holderbook.com/stocks/TBBK/) | $3.7M | 376,138 | 6.6% | 7 |
| NATURAL GROCERS BY VITAMIN | [NGVC](https://holderbook.com/stocks/NGVC/) | $3.6M | 240,373 | 6.4% | 5 |
| GOLD RESOURCE CORP | [GORO](https://holderbook.com/stocks/GORO/) | $3.5M | 858,382 | 6.3% | 4 |
| HERITAGE INSURANCE HLDGS INC | [HRTG](https://holderbook.com/stocks/HRTG/) | $3.4M | 258,110 | 6.1% | 7 |
| GAIN CAP HLDGS INC | [GCAP](https://holderbook.com/stocks/GCAP/) | $3.3M | 547,065 | 5.9% | 7 |
| CITI TRENDS INC | [CTRN](https://holderbook.com/stocks/CTRN/) | $3.2M | 157,652 | 5.7% | 5 |
| AVAYA HLDGS CORP | [AVYAQ](https://holderbook.com/stocks/AVYAQ/) | $3.2M | 256,577 | 5.7% | 4 |
| NORTH AMERN CONSTR GROUP LTD | [NOA](https://holderbook.com/stocks/NOA/) | $2.9M | 468,276 | 5.3% | 7 |
| LIMELIGHT NETWORKS INC | [EGIOXXXX](https://holderbook.com/stocks/EGIOXXXX/) | $2.8M | 380,851 | 5.0% | 4 |
| LIFECORE BIOMEDICAL INC | [LFCR](https://holderbook.com/stocks/LFCR/) | $2.5M | 314,432 | 4.5% | 7 |
| SLR INVESTMENT CORP | [SLRC](https://holderbook.com/stocks/SLRC/) | $2.5M | 156,296 | 4.5% | 7 |
| TEJON RANCH CO | [TRC](https://holderbook.com/stocks/TRC/) | $2.5M | 173,574 | 4.5% | 5 |
| REGIONAL MGMT CORP | [RM](https://holderbook.com/stocks/RM/) | $2.3M | 131,078 | 4.2% | 7 |
| ARDMORE SHIPPING CORP | [ASC](https://holderbook.com/stocks/ASC/) | $2.2M | 513,949 | 4.0% | 5 |
| SPROTT INC | [SII](https://holderbook.com/stocks/SII/) | $1.6M | 43,824 | 2.8% | 1 |
| ZAGG INC | [ZAGG](https://holderbook.com/stocks/ZAGG/) | $1.5M | 466,650 | 2.6% | 7 |
| CATO CORP NEW | [CATO](https://holderbook.com/stocks/CATO/) | $1.4M | 171,846 | 2.5% | 5 |
| BOSTON PRIVATE FINL HLDGS IN | [BPFH](https://holderbook.com/stocks/BPFH/) | $1.4M | 196,218 | 2.4% | 7 |
| NATURAL GAS SVCS GROUP INC | [NGS](https://holderbook.com/stocks/NGS/) | $1.3M | 207,546 | 2.3% | 1 |
| TILLYS INC | [TLYS](https://holderbook.com/stocks/TLYS/) | $1.3M | 227,339 | 2.3% | 1 |
| RED ROBIN GOURMET BURGERS IN | [RRGB](https://holderbook.com/stocks/RRGB/) | $1.1M | 104,740 | 1.9% | 4 |
| MESA AIR GROUP INC | [MESA](https://holderbook.com/stocks/MESA/) | $761.0K | 221,122 | 1.4% | 3 |
| CHARLES & COLVARD LTD | [CTHR](https://holderbook.com/stocks/CTHR/) | $136.0K | 186,064 | 0.2% | 5 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2020 | +24.9% | +19.6% | +5.2% | 100% |
| Q1 2020 | -40.1% | -19.9% | -20.2% | 100% |
| Q4 2019 | +5.5% | +8.5% | -3.0% | 100% |
| Q3 2019 | -1.8% | +1.3% | -3.1% | 100% |
| Q2 2019 | -9.9% | +3.7% | -13.7% | 88% |
| Q1 2019 | +4.7% | +13.0% | -8.3% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2020 | $55.7M | 24 |
| Q1 2020 | $46.8M | 22 |
| Q4 2019 | $102.9M | 24 |
| Q3 2019 | $89.7M | 24 |
| Q2 2019 | $80.2M | 26 |
| Q1 2019 | $82.6M | 23 |
| Q4 2018 | $86.2M | 25 |