Western Standard LLC Quant / Systematic

CIK: 0001517666 · Show all filings

Period: Q4 2020 (← Previous) (Next →)

Filing Date: Feb 16, 2021

Total Value ($000): $87,411 (90.4% shares, 9.6% debt)

Holdings (31)

— MERRIMACK PHARMACEUTICALS IN 8.0%

Value ($000) $6,970 Shares 1,011,571 Est. Cost $5.21 Unrealized —

— VECTOR GROUP LTD 7.0%

Value ($000) $6,134 Shares 526,516 Est. Cost $11.26 Unrealized —

ORI OLD REP INTL CORP 6.6%

Value ($000) $5,802 Shares 294,370 Est. Cost $11.18 Unrealized 0.0%

MCS MARCUS CORP DEL 6.4%

Value ($000) $5,580 Shares 413,939 Est. Cost $10.12 Unrealized 0.0%

— FORUM ENERGY TECHNOLOGIES IN 6.1%

Value ($000) $5,318 Shares 8,309,838 Est. Cost $0.62 Unrealized —

RMR RMR GROUP INC 6.0%

Value ($000) $5,234 Shares 135,538 Est. Cost $23.14 Unrealized -16.9%

AAMI BRIGHTSPHERE INVT GROUP INC 5.4%

Value ($000) $4,759 Shares 246,854 Est. Cost $16.68 Unrealized 0.0%

DLAPQ DELTA APPAREL INC 5.1%

Value ($000) $4,469 Shares 222,649 Est. Cost $22.10 Unrealized -13.4%

ILPT INDUSTRIAL LOGISTICS PPTYS T 4.4%

Value ($000) $3,864 Shares 165,910 Est. Cost $20.01 Unrealized —

WINA WINMARK CORP 3.8%

Value ($000) $3,316 Shares 17,845 Est. Cost $157.86 Unrealized +12.6%

NNI NELNET INC 3.6%

Value ($000) $3,104 Shares 43,566 Est. Cost $56.25 Unrealized +20.2%

— GREEN PLAINS INC 3.5%

Value ($000) $3,042 Shares 3,192,000 Est. Cost $0.80 Unrealized —

— MACQUARIE INFRASTRUCTURE COR 3.1%

Value ($000) $2,722 Shares 72,500 Est. Cost $37.54 Unrealized —

TLYS TILLYS INC 3.0%

Value ($000) $2,647 Shares 324,359 Est. Cost $5.51 Unrealized +21.0%

GOOGL ALPHABET INC 2.9%

Value ($000) $2,519 Shares 1,437 Est. Cost $54.25 Unrealized +53.9%

TPB TURNING PT BRANDS INC 2.5%

Value ($000) $2,199 Shares 49,360 Est. Cost $23.54 Unrealized +60.5%

— MARLIN BUSINESS SVCS CORP 2.5%

Value ($000) $2,187 Shares 178,690 Est. Cost $12.24 Unrealized —

PKE PARK AEROSPACE CORP 2.3%

Value ($000) $1,987 Shares 148,154 Est. Cost $11.65 Unrealized +5.5%

— BONANZA CREEK ENERGY INC 2.1%

Value ($000) $1,875 Shares 97,000 Est. Cost $19.33 Unrealized —

KBR KBR INC 2.1%

Value ($000) $1,856 Shares 60,000 Est. Cost $24.89 Unrealized 0.0%

CNK CINEMARK HLDGS INC 2.0%

Value ($000) $1,729 Shares 99,300 Est. Cost $12.42 Unrealized 0.0%

TBHC KIRKLANDS INC 1.9%

Value ($000) $1,689 Shares 94,442 Est. Cost $6.50 Unrealized +110.2%

— BIOTELEMETRY INC 1.7%

Value ($000) $1,499 Shares 20,800 Est. Cost $72.07 Unrealized —

NODK NI HLDGS INC 1.6%

Value ($000) $1,379 Shares 83,961 Est. Cost $16.54 Unrealized +2.7%

— SIRIUS INTERNATIONAL INSURAN 1.5%

Value ($000) $1,320 Shares 105,597 Est. Cost $11.56 Unrealized —

— ATLANTIC POWER CORP 1.3%

Value ($000) $1,133 Shares 539,572 Est. Cost $2.27 Unrealized —

PCG PG&E CORP 1.2%

Value ($000) $1,086 Shares 87,146 Est. Cost $9.20 Unrealized +21.6%

— OAKTREE SPECIALTY LENDING CO 1.1%

Value ($000) $988 Shares 177,402 Est. Cost $4.72 Unrealized —

OFS OFS CAP CORP 0.7%

Value ($000) $631 Shares 88,262 Est. Cost $5.76 Unrealized 0.0%

IWM ISHARES TR 0.3%

Value ($000) $245 Shares 500 Est. Cost — Unrealized —

AHRT ARMADA HOFFLER PPTYS INC 0.1%

Value ($000) $128 Shares 11,451 Est. Cost $11.18 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	MERRIMACK PHARMACEUTICALS IN	1,011,571	$6,970	8.0%	$5.21	—	COM NEW	590328209
—	VECTOR GROUP LTD	526,516	$6,134	7.0%	$11.26	—	COM	92240M108
ORI	OLD REP INTL CORP	294,370	$5,802	6.6%	$11.18	0.0%	COM	680223104
MCS	MARCUS CORP DEL	413,939	$5,580	6.4%	$10.12	0.0%	COM	566330106
—	FORUM ENERGY TECHNOLOGIES IN	8,309,838	$5,318	6.1%	$0.62	—	NOTE 9.000% 8/0	34984VAC4
RMR	RMR GROUP INC	135,538	$5,234	6.0%	$23.14	-16.9%	CL A	74967R106
AAMI	BRIGHTSPHERE INVT GROUP INC	246,854	$4,759	5.4%	$16.68	0.0%	COM	10948W103
DLAPQ	DELTA APPAREL INC	222,649	$4,469	5.1%	$22.10	-13.4%	COM	247368103
ILPT	INDUSTRIAL LOGISTICS PPTYS T	165,910	$3,864	4.4%	$20.01	—	COM SHS BEN INT	456237106
WINA	WINMARK CORP	17,845	$3,316	3.8%	$157.86	+12.6%	COM	974250102
NNI	NELNET INC	43,566	$3,104	3.6%	$56.25	+20.2%	CL A	64031N108
—	GREEN PLAINS INC	3,192,000	$3,042	3.5%	$0.80	—	NOTE 4.125% 9/0	393222AF1
—	MACQUARIE INFRASTRUCTURE COR	72,500	$2,722	3.1%	$37.54	—	COM	55608B105
TLYS	TILLYS INC	324,359	$2,647	3.0%	$5.51	+21.0%	CL A	886885102
GOOGL	ALPHABET INC	1,437	$2,519	2.9%	$54.25	+53.9%	CAP STK CL A	02079K305
TPB	TURNING PT BRANDS INC	49,360	$2,199	2.5%	$23.54	+60.5%	COM	90041L105
—	MARLIN BUSINESS SVCS CORP	178,690	$2,187	2.5%	$12.24	—	COM	571157106
PKE	PARK AEROSPACE CORP	148,154	$1,987	2.3%	$11.65	+5.5%	COM	70014A104
—	BONANZA CREEK ENERGY INC	97,000	$1,875	2.1%	$19.33	—	COM NEW	097793400
KBR	KBR INC	60,000	$1,856	2.1%	$24.89	0.0%	COM	48242W106
CNK	CINEMARK HLDGS INC	99,300	$1,729	2.0%	$12.42	0.0%	COM	17243V102
TBHC	KIRKLANDS INC	94,442	$1,689	1.9%	$6.50	+110.2%	COM	497498105
—	BIOTELEMETRY INC	20,800	$1,499	1.7%	$72.07	—	COM	090672106
NODK	NI HLDGS INC	83,961	$1,379	1.6%	$16.54	+2.7%	COM	65342T106
—	SIRIUS INTERNATIONAL INSURAN	105,597	$1,320	1.5%	$11.56	—	COM	G8196D101
—	ATLANTIC POWER CORP	539,572	$1,133	1.3%	$2.27	—	COM NEW	04878Q863
PCG	PG&E CORP	87,146	$1,086	1.2%	$9.20	+21.6%	COM	69331C108
—	OAKTREE SPECIALTY LENDING CO	177,402	$988	1.1%	$4.72	—	COM	67401P108
OFS	OFS CAP CORP	88,262	$631	0.7%	$5.76	0.0%	COM	67103B100
IWM	ISHARES TR	500	$245	0.3%	—	—	Put	464287655
AHRT	ARMADA HOFFLER PPTYS INC	11,451	$128	0.1%	$11.18	—	COM	04208T108