Western Standard LLC Quant / Systematic

CIK: 0001517666 · Show all filings

Period: Q4 2019 (← Previous) (Next →)

Filing Date: Feb 14, 2020

Total Value ($000): $128,409 (100.0% shares, 0.0% debt)

Holdings (40)

— RLJ LODGING TR 9.6%

Value ($000) $12,265 Shares 445,984 Est. Cost $25.54 Unrealized —

— MARLIN BUSINESS SVCS CORP 7.8%

Value ($000) $9,970 Shares 453,589 Est. Cost $22.68 Unrealized —

UUP INVESCO DB US DLR INDEX TR 6.9%

Value ($000) $8,875 Shares 341,750 Est. Cost $25.05 Unrealized —

— EXTENDED STAY AMER INC 6.0%

Value ($000) $7,764 Shares 522,510 Est. Cost $14.65 Unrealized —

DLAPQ DELTA APPAREL INC 5.6%

Value ($000) $7,205 Shares 231,680 Est. Cost $22.57 Unrealized +18.6%

— GREEN PLAINS INC 5.6%

Value ($000) $7,172 Shares 7,692,000 Est. Cost $0.86 Unrealized —

CASH META FINL GROUP INC 5.4%

Value ($000) $6,957 Shares 190,553 Est. Cost $28.48 Unrealized +16.2%

ALLY ALLY FINL INC 4.8%

Value ($000) $6,179 Shares 202,192 Est. Cost $23.35 Unrealized +9.3%

ILPT INDUSTRIAL LOGISTICS PPTYS T 3.9%

Value ($000) $5,037 Shares 224,682 Est. Cost $20.48 Unrealized —

NESR NATIONAL ENERGY SERVICES REU 3.4%

Value ($000) $4,331 Shares 474,930 Est. Cost $7.11 Unrealized —

NNI NELNET INC 3.3%

Value ($000) $4,188 Shares 71,902 Est. Cost $56.55 Unrealized +8.3%

LAUR LAUREATE EDUCATION INC 3.0%

Value ($000) $3,826 Shares 217,288 Est. Cost $16.67 Unrealized -1.1%

— LORAL SPACE & COMMUNICATNS I 2.4%

Value ($000) $3,086 Shares 95,481 Est. Cost $37.43 Unrealized —

EZPW EZCORP INC 2.2%

Value ($000) $2,815 Shares 412,729 Est. Cost $6.66 Unrealized -13.8%

— EZCORP INC 2.2%

Value ($000) $2,807 Shares 3,000,000 Est. Cost $0.94 Unrealized —

GOOGL ALPHABET INC 2.1%

Value ($000) $2,702 Shares 2,017 Est. Cost $53.74 Unrealized +19.1%

— MERRIMACK PHARMACEUTICALS IN 2.1%

Value ($000) $2,655 Shares 842,913 Est. Cost $5.55 Unrealized —

RMR RMR GROUP INC 2.0%

Value ($000) $2,563 Shares 56,164 Est. Cost $26.60 Unrealized -2.7%

GPRE GREEN PLAINS INC 1.8%

Value ($000) $2,362 Shares 153,101 Est. Cost $14.80 Unrealized -8.1%

DAL DELTA AIR LINES INC DEL 1.7%

Value ($000) $2,233 Shares 38,178 Est. Cost $50.11 Unrealized +7.9%

— HOEGH LNG PARTNERS LP 1.7%

Value ($000) $2,188 Shares 139,979 Est. Cost $15.55 Unrealized —

— CINER RES LP 1.7%

Value ($000) $2,119 Shares 122,121 Est. Cost $19.39 Unrealized —

NODK NI HLDGS INC 1.5%

Value ($000) $1,986 Shares 115,477 Est. Cost $16.55 Unrealized +3.6%

XPEL XPEL INC 1.4%

Value ($000) $1,803 Shares 123,067 Est. Cost $8.25 Unrealized +58.0%

— ATLANTIC PWR CORP 1.1%

Value ($000) $1,399 Shares 600,343 Est. Cost $2.39 Unrealized —

FORR FORRESTER RESH INC 1.0%

Value ($000) $1,347 Shares 32,300 Est. Cost $37.28 Unrealized 0.0%

UVSP UNIVEST FINANCIAL CORPORATIO 0.9%

Value ($000) $1,173 Shares 43,800 Est. Cost $25.87 Unrealized +0.0%

OSG AMBAC FINL GROUP INC 0.9%

Value ($000) $1,105 Shares 51,211 Est. Cost $20.51 Unrealized 0.0%

MBCN MIDDLEFIELD BANC CORP 0.9%

Value ($000) $1,093 Shares 41,880 Est. Cost $19.50 Unrealized +4.2%

LUV SOUTHWEST AIRLS CO 0.8%

Value ($000) $1,084 Shares 20,080 Est. Cost $48.23 Unrealized +6.3%

NEN NEW ENGLAND RLTY ASSOC LTD P 0.8%

Value ($000) $1,060 Shares 17,090 Est. Cost $62.02 Unrealized —

— COMMUNITY WEST BANCSHARES 0.8%

Value ($000) $1,030 Shares 92,792 Est. Cost $10.65 Unrealized —

— FORUM ENERGY TECHNOLOGIES IN 0.7%

Value ($000) $874 Shares 520,350 Est. Cost $1.68 Unrealized —

— STEEL PARTNERS HLDGS L P 0.7%

Value ($000) $853 Shares 70,502 Est. Cost $12.52 Unrealized —

NBN NORTHEAST BK LEWISTON ME 0.7%

Value ($000) $839 Shares 38,154 Est. Cost $21.15 Unrealized +4.3%

— NEXTIER OILFIELD SOLUTIONS I 0.6%

Value ($000) $834 Shares 124,500 Est. Cost $6.70 Unrealized —

PENN PENN NATL GAMING INC 0.6%

Value ($000) $754 Shares 29,515 Est. Cost $20.45 Unrealized +8.6%

SFBC SOUND FINL BANCORP INC 0.6%

Value ($000) $738 Shares 20,490 Est. Cost $26.13 Unrealized +20.5%

JNK SPDR SERIES TRUST 0.5%

Value ($000) $580 Shares 2,000 Est. Cost — Unrealized —

— BRISTOL MYERS SQUIBB CO 0.4%

Value ($000) $558 Shares 185,371 Est. Cost $3.01 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	RLJ LODGING TR	445,984	$12,265	9.6%	$25.54	—	CUM CONV PFD A	74965L200
—	MARLIN BUSINESS SVCS CORP	453,589	$9,970	7.8%	$22.68	—	COM	571157106
UUP	INVESCO DB US DLR INDEX TR	341,750	$8,875	6.9%	$25.05	—	BULLISH FD	46141D203
—	EXTENDED STAY AMER INC	522,510	$7,764	6.0%	$14.65	—	UNIT 99/99/9999B	30224P200
DLAPQ	DELTA APPAREL INC	231,680	$7,205	5.6%	$22.57	+18.6%	COM	247368103
—	GREEN PLAINS INC	7,692,000	$7,172	5.6%	$0.86	—	NOTE 4.125% 9/0	393222AF1
CASH	META FINL GROUP INC	190,553	$6,957	5.4%	$28.48	+16.2%	COM	59100U108
ALLY	ALLY FINL INC	202,192	$6,179	4.8%	$23.35	+9.3%	COM	02005N100
ILPT	INDUSTRIAL LOGISTICS PPTYS T	224,682	$5,037	3.9%	$20.48	—	COM SHS BEN INT	456237106
NESR	NATIONAL ENERGY SERVICES REU	474,930	$4,331	3.4%	$7.11	—	SHS	G6375R107
NNI	NELNET INC	71,902	$4,188	3.3%	$56.55	+8.3%	CL A	64031N108
LAUR	LAUREATE EDUCATION INC	217,288	$3,826	3.0%	$16.67	-1.1%	CL A	518613203
—	LORAL SPACE & COMMUNICATNS I	95,481	$3,086	2.4%	$37.43	—	COM	543881106
EZPW	EZCORP INC	412,729	$2,815	2.2%	$6.66	-13.8%	CL A NON VTG	302301106
—	EZCORP INC	3,000,000	$2,807	2.2%	$0.94	—	NOTE 2.875% 7/0	302301AF3
GOOGL	ALPHABET INC	2,017	$2,702	2.1%	$53.74	+19.1%	CAP STK CL A	02079K305
—	MERRIMACK PHARMACEUTICALS IN	842,913	$2,655	2.1%	$5.55	—	COM NEW	590328209
RMR	RMR GROUP INC	56,164	$2,563	2.0%	$26.60	-2.7%	CL A	74967R106
GPRE	GREEN PLAINS INC	153,101	$2,362	1.8%	$14.80	-8.1%	COM	393222104
DAL	DELTA AIR LINES INC DEL	38,178	$2,233	1.7%	$50.11	+7.9%	COM NEW	247361702
—	HOEGH LNG PARTNERS LP	139,979	$2,188	1.7%	$15.55	—	COM UNIT LTD	Y3262R100
—	CINER RES LP	122,121	$2,119	1.7%	$19.39	—	COM UNIT LTD	172464109
NODK	NI HLDGS INC	115,477	$1,986	1.5%	$16.55	+3.6%	COM	65342T106
XPEL	XPEL INC	123,067	$1,803	1.4%	$8.25	+58.0%	COM	98379L100
—	ATLANTIC PWR CORP	600,343	$1,399	1.1%	$2.39	—	COM NEW	04878Q863
FORR	FORRESTER RESH INC	32,300	$1,347	1.0%	$37.28	0.0%	COM	346563109
UVSP	UNIVEST FINANCIAL CORPORATIO	43,800	$1,173	0.9%	$25.87	+0.0%	COM	915271100
OSG	AMBAC FINL GROUP INC	51,211	$1,105	0.9%	$20.51	0.0%	COM NEW	023139884
MBCN	MIDDLEFIELD BANC CORP	41,880	$1,093	0.9%	$19.50	+4.2%	COM NEW	596304204
LUV	SOUTHWEST AIRLS CO	20,080	$1,084	0.8%	$48.23	+6.3%	COM	844741108
NEN	NEW ENGLAND RLTY ASSOC LTD P	17,090	$1,060	0.8%	$62.02	—	DEPOSITRY RCPT	644206104
—	COMMUNITY WEST BANCSHARES	92,792	$1,030	0.8%	$10.65	—	COM	204157101
—	FORUM ENERGY TECHNOLOGIES IN	520,350	$874	0.7%	$1.68	—	COM	34984V100
—	STEEL PARTNERS HLDGS L P	70,502	$853	0.7%	$12.52	—	LTD PRTRSHIP U	85814R107
NBN	NORTHEAST BK LEWISTON ME	38,154	$839	0.7%	$21.15	+4.3%	COM	66405S100
—	NEXTIER OILFIELD SOLUTIONS I	124,500	$834	0.6%	$6.70	—	COM	65290C105
PENN	PENN NATL GAMING INC	29,515	$754	0.6%	$20.45	+8.6%	COM	707569109
SFBC	SOUND FINL BANCORP INC	20,490	$738	0.6%	$26.13	+20.5%	COM	83607A100
JNK	SPDR SERIES TRUST	2,000	$580	0.5%	—	—	Put	78468R622
—	BRISTOL MYERS SQUIBB CO	185,371	$558	0.4%	$3.01	—	RIGHT 99/99/9999	110122157