Western Standard LLC

CIK

1517666

Location

Los Angeles, CA

Portfolio Value

Small $190,161,025

Diversification

Diversified

Filing Date

Global Rank

#4,315 / 8,623 ▼ 165 · as of Mar 2026

Top Industry

Credit Services 24.3%

3Y Alpha vs SPY

-5.2%

Period ended 4 months ago

Filed May 11, 2026 · 3mo

25 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of buying every stock this filer reported holding, rebalancing on each filing and indexed to the same start. Option positions cannot be bought this way and are left out.

Not a measure of this manager's performance. Most of Western Standard LLC's reported book is option positions, which a stock-only clone cannot replicate. The figures below are the return of the 88% that is ordinary stock — as little as 35% in one quarter — so a manager whose options thesis lost money can still show a large gain here.

Cloned portfolio

+44.8%

SPY

+65.3%

Annualised alpha

-5.1%

Max drawdown

−26.6%

Estimate. 13F holdings are quarter-lagged, so the clone rebalances about 45 days after each period end — when the filing becomes public — and it excludes option and short positions. It tracks 88% of reported value on average across 13 quarters. Past performance does not predict future results.

Portfolio Concentration

23 tracked positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

20.9%

+6.7 pts

Top 5

59.7%

+2.8 pts

Top 10

78.4%

+0.0 pts

HHI

965

Diversified+162

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Financial Services	32.4%	$61,695,327	5
Industrials	14.5%	$27,630,634	2
Healthcare	14.2%	$27,072,934	4
Basic Materials	8.7%	$16,563,345	1
Technology	7.7%	$14,650,010	2
Consumer Cyclical	7.0%	$13,340,421	3
Communication Services	4.4%	$8,312,865	1
Real Estate	3.5%	$6,620,359	1
Consumer Defensive	2.8%	$5,400,629	2
Unclassified	2.7%	$5,151,884	1
Utilities	2.0%	$3,722,617	1

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

5 positions

Ticker	Company	Δ Shares	Shares	Value
CODI	Compass Diversified Holdings	+1,972,156	3,137,156	$24,658,046
GDOT	Green Dot Corp	+1,569,126	3,546,626	$39,793,143
ANGI	Angi Inc.	+1,074,715	1,213,557	$8,312,865
ABUS	Arbutus Biopharma Corp	+13,734	521,587	$2,347,141
FFBC	First Financial Bancorp /Oh/	+9,857	84,857	$2,365,813
No positions match the current search.

Trimmed

Positions the filer reduced

8 positions

Ticker	Company	Δ Shares	Shares	Value
ATEC	Alphatec Holdings, Inc.	−1,232,881	22,493	$244,723
OSG	Octave Specialty Group Inc	−257,036	2,247,591	$10,451,298
EZPW	Ezcorp Inc	−198,321	201,679	$5,118,613
NSP	Insperity, Inc.	−105,667	109,933	$2,972,588
AVNW	Aviat Networks, Inc.	−78,486	415,752	$9,400,152
AIV	Apartment Investment & Management Co	−53,300	1,626,624	$6,620,359
IOSP	Innospec Inc.	−41,534	226,833	$16,563,345
FIVE	Five Below, Inc	−17,348	23,252	$5,312,616
No positions match the current search.

New Positions

Positions the filer opened this quarter

9 positions

Ticker	Company	Shares	Value
TFX	Teleflex Inc	184,817	$22,105,961
YETI	YETI Holdings, Inc.	162,000	$5,927,580
DAVE	Dave Inc./DE	30,156	$5,249,858
FRPT	Freshpet, Inc.	72,400	$4,268,704
WULF	Terawulf Inc.	274,876	$3,966,460
HNRG	Hallador Energy Co	228,662	$3,722,617
WEAV	Weave Communications, Inc.	514,093	$2,375,109
CWH	Camping World Holdings, Inc.	307,500	$2,100,225
HAIN	Hain Celestial Group Inc	1,617,037	$1,131,925
No positions match the current search.

Sold Out

Positions the filer fully exited

10 positions

Ticker	Company	Shares	Value
SEM	Select Medical Holdings Corp	2,064,021	$30,650,711
BLTE	Belite Bio, Inc	60,026	$9,601,758
DRVN	Driven Brands Holdings Inc.	303,413	$4,496,580
MCW	Mister Car Wash, Inc.	797,906	$4,436,357
NX	Quanex Building Products CORP	274,338	$4,219,318
GOOGL	Alphabet Inc.	7,000	$2,191,000
FOXF	Fox Factory Holding Corp	120,000	$2,053,200
SVV	Savers Value Village, Inc.	200,000	$1,868,000
UPBD	Upbound Group, Inc.	100,000	$1,756,000
LKFT	Lakefront Biotherapeutics NV	32,000	$1,046,400
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

23 tracked positions · $190,161,025 total · as of Mar 31, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Financial Services Healthcare Industrials Real Estate Technology Utilities

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
GDOT	Green Dot Corp Financial Services	Added	3,546,626	+1,569,126	$39,793,143	+57.1%	20.93%
CODI	Compass Diversified Holdings Industrials	Added	3,137,156	+1,972,156	$24,658,046	+341.0%	12.97%
TFX	Teleflex Inc Healthcare	NEW	184,817	NEW	$22,105,961	NEW	11.62%
IOSP	Innospec Inc. Basic Materials	Reduced	226,833	-41,534	$16,563,345	−19.4%	8.71%
OSG	Octave Specialty Group Inc Financial Services	Reduced	2,247,591	-257,036	$10,451,298	−46.4%	5.50%
AVNW	Aviat Networks, Inc. Technology	Reduced	415,752	-78,486	$9,400,152	−11.0%	4.94%
ANGI	Angi Inc. Communication Services	Added	1,213,557	+1,074,715	$8,312,865	+363.1%	4.37%
AIV	Apartment Investment & Management Co Real Estate	Reduced	1,626,624	-53,300	$6,620,359	−33.7%	3.48%
YETI	YETI Holdings, Inc. Consumer Cyclical	NEW	162,000	NEW	$5,927,580	NEW	3.12%
FIVE	Five Below, Inc Consumer Cyclical	Reduced	23,252	-17,348	$5,312,616	−30.5%	2.79%
DAVE	Dave Inc./DE Technology	NEW	30,156	NEW	$5,249,858	NEW	2.76%
UUP	Invesco DB US Dollar Index Bullish Fund	Held	185,453	0	$5,151,884	+2.8%	2.71%
EZPW	Ezcorp Inc Financial Services	Reduced	201,679	-198,321	$5,118,613	−34.1%	2.69%
FRPT	Freshpet, Inc. Consumer Defensive	NEW	72,400	NEW	$4,268,704	NEW	2.24%
WULF	Terawulf Inc. Financial Services	NEW	274,876	NEW	$3,966,460	NEW	2.09%
HNRG	Hallador Energy Co Utilities	NEW	228,662	NEW	$3,722,617	NEW	1.96%
NSP	Insperity, Inc. Industrials	Reduced	109,933	-105,667	$2,972,588	−64.4%	1.56%
WEAV	Weave Communications, Inc. Healthcare	NEW	514,093	NEW	$2,375,109	NEW	1.25%
FFBC	First Financial Bancorp /Oh/ Financial Services	Added	84,857	+9,857	$2,365,813	+26.1%	1.24%
ABUS	Arbutus Biopharma Corp Healthcare	Added	521,587	+13,734	$2,347,141	−3.9%	1.23%
CWH	Camping World Holdings, Inc. Consumer Cyclical	NEW	307,500	NEW	$2,100,225	NEW	1.10%
HAIN	Hain Celestial Group Inc Consumer Defensive	NEW	1,617,037	NEW	$1,131,925	NEW	0.60%
ATEC	Alphatec Holdings, Inc. Healthcare	Reduced	22,493	-1,232,881	$244,723	−99.1%	0.13%

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.