Western Standard LLC Quant / Systematic

CIK: 0001517666 · Show all filings

Period: Q3 2019 (← Previous) (Next →)

Filing Date: Nov 14, 2019

Total Value ($000): $126,238 (100.0% shares, 0.0% debt)

Holdings (39)

— RLJ LODGING TR 9.7%

Value ($000) $12,226 Shares 452,984 Est. Cost $25.54 Unrealized —

— MARLIN BUSINESS SVCS CORP 9.2%

Value ($000) $11,671 Shares 463,324 Est. Cost $22.68 Unrealized —

UUP INVESCO DB US DLR INDEX TR 7.4%

Value ($000) $9,394 Shares 346,650 Est. Cost $25.05 Unrealized —

PENN PENN NATL GAMING INC 6.0%

Value ($000) $7,553 Shares 405,515 Est. Cost $20.45 Unrealized -7.4%

— EXTENDED STAY AMER INC 5.7%

Value ($000) $7,237 Shares 494,310 Est. Cost $14.64 Unrealized —

— CELGENE CORP 5.4%

Value ($000) $6,879 Shares 69,271 Est. Cost $99.31 Unrealized —

ALLY ALLY FINL INC 4.7%

Value ($000) $5,995 Shares 180,792 Est. Cost $23.10 Unrealized +14.1%

CASH META FINL GROUP INC 4.4%

Value ($000) $5,558 Shares 170,427 Est. Cost $27.93 Unrealized +4.8%

DLAPQ DELTA APPAREL INC 4.2%

Value ($000) $5,296 Shares 222,981 Est. Cost $22.41 Unrealized -1.1%

ILPT INDUSTRIAL LOGISTICS PPTYS T 3.7%

Value ($000) $4,727 Shares 222,451 Est. Cost $20.46 Unrealized —

NNI NELNET INC 3.4%

Value ($000) $4,338 Shares 68,202 Est. Cost $56.30 Unrealized +13.9%

— MERRIMACK PHARMACEUTICALS IN 3.0%

Value ($000) $3,793 Shares 842,913 Est. Cost $5.55 Unrealized —

— GREEN PLAINS INC 2.9%

Value ($000) $3,672 Shares 4,500,000 Est. Cost $0.82 Unrealized —

— LORAL SPACE & COMMUNICATNS I 2.5%

Value ($000) $3,158 Shares 76,280 Est. Cost $38.71 Unrealized —

GOOGL ALPHABET INC 2.4%

Value ($000) $3,092 Shares 2,532 Est. Cost $53.74 Unrealized +9.4%

— CINER RES LP 2.2%

Value ($000) $2,730 Shares 147,891 Est. Cost $19.39 Unrealized —

NESR NATIONAL ENERGY SERVICES REU 2.1%

Value ($000) $2,618 Shares 391,946 Est. Cost $6.68 Unrealized —

LAUR LAUREATE EDUCATION INC 1.7%

Value ($000) $2,145 Shares 129,428 Est. Cost $16.80 Unrealized 0.0%

RMR RMR GROUP INC 1.6%

Value ($000) $2,063 Shares 45,359 Est. Cost $26.77 Unrealized -2.8%

NODK NI HLDGS INC 1.5%

Value ($000) $1,916 Shares 111,777 Est. Cost $16.53 Unrealized +2.5%

— EZCORP INC 1.5%

Value ($000) $1,886 Shares 2,000,000 Est. Cost $0.94 Unrealized —

LUV SOUTHWEST AIRLS CO 1.4%

Value ($000) $1,782 Shares 33,000 Est. Cost $48.23 Unrealized +0.0%

— CORNERSTONE BLDG BRANDS INC 1.3%

Value ($000) $1,621 Shares 268,000 Est. Cost $5.83 Unrealized —

XPEL XPEL INC 1.2%

Value ($000) $1,476 Shares 125,067 Est. Cost $8.25 Unrealized 0.0%

DAL DELTA AIR LINES INC DEL 1.1%

Value ($000) $1,398 Shares 24,278 Est. Cost $47.83 Unrealized +18.6%

— CAI INTERNATIONAL INC 0.9%

Value ($000) $1,180 Shares 54,201 Est. Cost $21.77 Unrealized —

GPRE GREEN PLAINS INC 0.9%

Value ($000) $1,175 Shares 110,856 Est. Cost $15.26 Unrealized -37.3%

— ATLANTIC PWR CORP 0.9%

Value ($000) $1,115 Shares 476,565 Est. Cost $2.41 Unrealized —

— HOEGH LNG PARTNERS LP 0.8%

Value ($000) $1,062 Shares 68,696 Est. Cost $15.46 Unrealized —

C CITIGROUP INC 0.8%

Value ($000) $1,020 Shares 14,763 Est. Cost $49.07 Unrealized +10.4%

UVSP UNIVEST FINANCIAL CORPORATIO 0.8%

Value ($000) $962 Shares 37,730 Est. Cost $25.87 Unrealized 0.0%

— COMMUNITY WEST BANCSHARES 0.7%

Value ($000) $918 Shares 92,792 Est. Cost $10.65 Unrealized —

MBCN MIDDLEFIELD BANC CORP 0.7%

Value ($000) $903 Shares 19,300 Est. Cost $18.55 Unrealized 0.0%

EZPW EZCORP INC 0.7%

Value ($000) $870 Shares 134,711 Est. Cost $8.56 Unrealized 0.0%

NBN NORTHEAST BK LEWISTON ME 0.7%

Value ($000) $856 Shares 38,624 Est. Cost $21.15 Unrealized +0.6%

SFBC SOUND FINL BANCORP INC 0.6%

Value ($000) $740 Shares 20,490 Est. Cost $26.13 Unrealized +18.0%

— STEEL PARTNERS HLDGS L P 0.4%

Value ($000) $543 Shares 42,420 Est. Cost $12.80 Unrealized —

LNC LINCOLN NATL CORP IND 0.3%

Value ($000) $378 Shares 2,000 Est. Cost — Unrealized —

OFS OFS CAP CORP 0.2%

Value ($000) $292 Shares 25,130 Est. Cost $13.32 Unrealized -13.7%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	RLJ LODGING TR	452,984	$12,226	9.7%	$25.54	—	CUM CONV PFD A	74965L200
—	MARLIN BUSINESS SVCS CORP	463,324	$11,671	9.2%	$22.68	—	COM	571157106
UUP	INVESCO DB US DLR INDEX TR	346,650	$9,394	7.4%	$25.05	—	BULLISH FD	46141D203
PENN	PENN NATL GAMING INC	405,515	$7,553	6.0%	$20.45	-7.4%	COM	707569109
—	EXTENDED STAY AMER INC	494,310	$7,237	5.7%	$14.64	—	UNIT 99/99/9999B	30224P200
—	CELGENE CORP	69,271	$6,879	5.4%	$99.31	—	COM	151020104
ALLY	ALLY FINL INC	180,792	$5,995	4.7%	$23.10	+14.1%	COM	02005N100
CASH	META FINL GROUP INC	170,427	$5,558	4.4%	$27.93	+4.8%	COM	59100U108
DLAPQ	DELTA APPAREL INC	222,981	$5,296	4.2%	$22.41	-1.1%	COM	247368103
ILPT	INDUSTRIAL LOGISTICS PPTYS T	222,451	$4,727	3.7%	$20.46	—	COM SHS BEN INT	456237106
NNI	NELNET INC	68,202	$4,338	3.4%	$56.30	+13.9%	CL A	64031N108
—	MERRIMACK PHARMACEUTICALS IN	842,913	$3,793	3.0%	$5.55	—	COM NEW	590328209
—	GREEN PLAINS INC	4,500,000	$3,672	2.9%	$0.82	—	NOTE 4.125% 9/0	393222AF1
—	LORAL SPACE & COMMUNICATNS I	76,280	$3,158	2.5%	$38.71	—	COM	543881106
GOOGL	ALPHABET INC	2,532	$3,092	2.4%	$53.74	+9.4%	CAP STK CL A	02079K305
—	CINER RES LP	147,891	$2,730	2.2%	$19.39	—	COM UNIT LTD	172464109
NESR	NATIONAL ENERGY SERVICES REU	391,946	$2,618	2.1%	$6.68	—	SHS	G6375R107
LAUR	LAUREATE EDUCATION INC	129,428	$2,145	1.7%	$16.80	0.0%	CL A	518613203
RMR	RMR GROUP INC	45,359	$2,063	1.6%	$26.77	-2.8%	CL A	74967R106
NODK	NI HLDGS INC	111,777	$1,916	1.5%	$16.53	+2.5%	COM	65342T106
—	EZCORP INC	2,000,000	$1,886	1.5%	$0.94	—	NOTE 2.875% 7/0	302301AF3
LUV	SOUTHWEST AIRLS CO	33,000	$1,782	1.4%	$48.23	+0.0%	COM	844741108
—	CORNERSTONE BLDG BRANDS INC	268,000	$1,621	1.3%	$5.83	—	COM	21925D109
XPEL	XPEL INC	125,067	$1,476	1.2%	$8.25	0.0%	COM	98379L100
DAL	DELTA AIR LINES INC DEL	24,278	$1,398	1.1%	$47.83	+18.6%	COM NEW	247361702
—	CAI INTERNATIONAL INC	54,201	$1,180	0.9%	$21.77	—	COM	12477X106
GPRE	GREEN PLAINS INC	110,856	$1,175	0.9%	$15.26	-37.3%	COM	393222104
—	ATLANTIC PWR CORP	476,565	$1,115	0.9%	$2.41	—	COM NEW	04878Q863
—	HOEGH LNG PARTNERS LP	68,696	$1,062	0.8%	$15.46	—	COM UNIT LTD	Y3262R100
C	CITIGROUP INC	14,763	$1,020	0.8%	$49.07	+10.4%	COM NEW	172967424
UVSP	UNIVEST FINANCIAL CORPORATIO	37,730	$962	0.8%	$25.87	0.0%	COM	915271100
—	COMMUNITY WEST BANCSHARES	92,792	$918	0.7%	$10.65	—	COM	204157101
MBCN	MIDDLEFIELD BANC CORP	19,300	$903	0.7%	$18.55	0.0%	COM NEW	596304204
EZPW	EZCORP INC	134,711	$870	0.7%	$8.56	0.0%	CL A NON VTG	302301106
NBN	NORTHEAST BK LEWISTON ME	38,624	$856	0.7%	$21.15	+0.6%	COM	66405S100
SFBC	SOUND FINL BANCORP INC	20,490	$740	0.6%	$26.13	+18.0%	COM	83607A100
—	STEEL PARTNERS HLDGS L P	42,420	$543	0.4%	$12.80	—	LTD PRTRSHIP U	85814R107
LNC	LINCOLN NATL CORP IND	2,000	$378	0.3%	—	—	Put	534187109
OFS	OFS CAP CORP	25,130	$292	0.2%	$13.32	-13.7%	COM	67103B100