# Western Standard LLC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1517666. Source: https://holderbook.com/funds/1517666-western-standard-llc/

- Reported value: $295.3M
- Positions: 27
- Weight of the ten largest: 75.8%
- Filed: 2026-08-10

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 |
|---|---|---|---|---|---|
| GREEN DOT CORP | [GDOT](https://holderbook.com/stocks/GDOT/) | $43.8M | 3,240,114 | 14.8% | 6 |
| GLASS HOUSE BRANDS INC | [GLAS](https://holderbook.com/stocks/GLAS/) | $35.0M | 2,728,768 | 11.9% | 1 |
| COMPASS DIVERSIFIED | [CODI](https://holderbook.com/stocks/CODI/) | $28.3M | 2,651,950 | 9.6% | 3 |
| ABIVAX SA | [ABVX](https://holderbook.com/stocks/ABVX/) | $26.7M | 200,000 | 9.0% | 1 |
| AVANTOR INC | [AVTR](https://holderbook.com/stocks/AVTR/) | $20.9M | 2,109,984 | 7.1% | 1 |
| INNOSPEC INC | [IOSP](https://holderbook.com/stocks/IOSP/) | $19.3M | 236,833 | 6.5% | 4 |
| ELECTRONIC ARTS INC | [EA](https://holderbook.com/stocks/EA/) | $18.0M | 87,900 | 6.1% | 1 |
| OCTAVE SPECIALTY GROUP INC | [OSG](https://holderbook.com/stocks/OSG/) | $14.0M | 2,247,591 | 4.8% | 4 |
| AH RLTY TR INC | [AHRT](https://holderbook.com/stocks/AHRT/) | $9.2M | 1,295,429 | 3.1% | 1 |
| STAGWELL INC | [STGW](https://holderbook.com/stocks/STGW/) | $8.7M | 1,167,276 | 2.9% | 1 |
| BOBS DISC FURNITURE INC | [BOBS](https://holderbook.com/stocks/BOBS/) | $8.0M | 502,997 | 2.7% | 1 |
| FRESHPET INC | [FRPT](https://holderbook.com/stocks/FRPT/) | $7.5M | 127,300 | 2.5% | 2 |
| CONSOLIDATED WATER CO INC | [CWCO](https://holderbook.com/stocks/CWCO/) | $7.4M | 252,056 | 2.5% | 1 |
| AVIAT NETWORKS INC | [AVNW](https://holderbook.com/stocks/AVNW/) | $6.7M | 301,028 | 2.3% | 6 |
| FIRST WATCH RESTAURANT GROUP | [FWRG](https://holderbook.com/stocks/FWRG/) | $6.6M | 513,240 | 2.2% | 1 |
| COOPER COS INC | [COO](https://holderbook.com/stocks/COO/) | $5.2M | 72,900 | 1.8% | 1 |
| ANGIODYNAMICS INC | [ANGO](https://holderbook.com/stocks/ANGO/) | $5.0M | 387,188 | 1.7% | 1 |
| EZCORP INC | [EZPW](https://holderbook.com/stocks/EZPW/) | $4.9M | 140,979 | 1.7% | 5 |
| INHIBRX BIOSCIENCES INC | [INBX](https://holderbook.com/stocks/INBX/) | $4.5M | 47,000 | 1.5% | 1 |
| 1ST FINL BANCORP | [FFBC](https://holderbook.com/stocks/FFBC/) | $3.0M | 88,357 | 1.0% | 3 |
| ARBUTUS BIOPHARMA CORP | [ABUS](https://holderbook.com/stocks/ABUS/) | $2.6M | 542,787 | 0.9% | 4 |
| GENIUS SPORTS LIMITED | [GENI](https://holderbook.com/stocks/GENI/) | $2.4M | 400,000 | 0.8% | 1 |
| MERCADOLIBRE INC | [MELI](https://holderbook.com/stocks/MELI/) | $2.4M | 1,400 | 0.8% | 1 |
| CHEWY INC | [CHWY](https://holderbook.com/stocks/CHWY/) | $2.2M | 111,229 | 0.7% | 1 |
| OLLIES BARGAIN OUTLET HLDGS | [OLLI](https://holderbook.com/stocks/OLLI/) | $2.2M | 28,000 | 0.7% | 1 |
| RED ROBIN GOURMET BURGERS IN | [RRGB](https://holderbook.com/stocks/RRGB/) | $706.5K | 88,418 | 0.2% | 1 |
| HOLLEY INC | [HLLY](https://holderbook.com/stocks/HLLY/) | $236.9K | 92,896 | 0.1% | 1 |

## 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 2026 | +18.7% | +14.8% | +3.9% | 100% |
| Q1 2026 | -9.0% | -4.6% | -4.4% | 99% |
| Q4 2025 | +11.0% | +2.4% | +8.6% | 100% |
| Q3 2025 | +13.3% | +7.8% | +5.5% | 99% |
| Q2 2025 | -2.1% | +10.5% | -12.6% | 99% |
| Q1 2025 | -4.2% | -4.6% | +0.4% | 90% |
| Q4 2024 | -11.6% | +2.1% | -13.8% | 100% |
| Q3 2024 | +13.3% | +5.4% | +7.9% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $295.3M | 27 |
| Q1 2026 | $190.2M | 23 |
| Q4 2025 | $216.8M | 25 |
| Q3 2025 | $337.1M | 24 |
| Q2 2025 | $179.7M | 20 |
| Q1 2025 | $170.1M | 29 |
| Q4 2024 | $150.1M | 23 |
| Q3 2024 | $106.6M | 21 |
| Q2 2024 | $96.6M | 22 |
| Q1 2024 | $208.8M | 24 |
| Q4 2023 | $150.2M | 31 |
| Q3 2023 | $110.7M | 28 |