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22NW, LP

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13F filer, CIK 1694297, SEATTLE, WA

22NW, LP reported $237,584,464 across 20 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-13. Its ten largest share positions make up 90.47% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001214659-26-001725

Period
2025-12-31
Reported value
$238M
Holdings
20
Top 10 weight
90.47%
New
1
Sold out
2

Largest buys vs the previous quarter

SecurityShares changeApprox. value
NSPnew+96,300$3.73M
SRIadded+87,164$505K
MECadded+14,390$269K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
DHXexited-2,036,988-$5.66M
AEBIexited-347,840-$4.34M
FSTRreduced-122,075-$3.29M
UFIreduced-125,184-$438K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q4 2025

Share positions as resolved from 13F-HR 0001214659-26-001725, largest first. % of portfolio is the value over $214,558,251, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
ANEBANEBULO PHARMACEUTICALS INC COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,366,290 shares; 2024Q4: 15,467,300 shares; 2025Q1: 15,467,300 shares; 2025Q2: 15,467,300 shares; 2025Q3: 15,467,300 shares; 2025Q4: 15,467,300 shares 15,467,300$84.8M39.5%0Timeline
FSTRFOSTER L B COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,313,121 shares; 2024Q4: 1,313,121 shares; 2025Q1: 1,313,121 shares; 2025Q2: 1,313,121 shares; 2025Q3: 1,313,121 shares; 2025Q4: 1,191,046 shares 1,191,046$32.1M14.96%-122,075Timeline
LFCRLIFECORE BIOMEDICAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,755,161 shares; 2024Q4: 1,755,161 shares; 2025Q1: 1,755,161 shares; 2025Q2: 264,180 shares; 2025Q3: 1,254 shares; 2025Q4: 1,254 shares 1,254$23M0Value about 1,000 times the price other filers imply, kept as filed and left out of ratios.Timeline
NKTRNEKTAR THERAPEUTICSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 146,115 shares; 2025Q3: 331,115 shares; 2025Q4: 331,115 shares 331,115$14M6.52%0Timeline
RGNXREGENXBIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 668,679 shares; 2025Q2: 923,679 shares; 2025Q3: 923,679 shares; 2025Q4: 923,679 shares 923,679$13.3M6.2%0Timeline
MLYSMINERALYS THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 461,344 shares; 2025Q2: 560,042 shares; 2025Q3: 358,325 shares; 2025Q4: 358,325 shares 358,325$13M6.06%0Timeline
SRISTONERIDGE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 342,787 shares; 2025Q1: 1,627,653 shares; 2025Q2: 1,943,508 shares; 2025Q3: 2,105,600 shares; 2025Q4: 2,192,764 shares 2,192,764$12.7M5.92%+87,164Timeline
MECMAYVILLE ENGR CO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 155,450 shares; 2025Q3: 399,890 shares; 2025Q4: 414,280 shares 414,280$7.76M3.61%+14,390Timeline
CULPCULP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,594,390 shares; 2024Q4: 1,624,715 shares; 2025Q1: 1,859,061 shares; 2025Q2: 1,859,061 shares; 2025Q3: 1,859,061 shares; 2025Q4: 1,859,061 shares 1,859,061$6.62M3.08%0Timeline
PFXPHENIXFIN CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 117,885 shares; 2024Q4: 117,885 shares; 2025Q1: 117,885 shares; 2025Q2: 117,885 shares; 2025Q3: 117,885 shares; 2025Q4: 117,885 shares 117,885$5.21M2.43%0Timeline
MGTXMEIRAGTX HLDGS PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 586,519 shares; 2025Q3: 586,519 shares; 2025Q4: 586,519 shares 586,519$4.66M2.17%0Timeline
CMTCORE MOLDING TECHNOLOGIES INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 191,222 shares; 2025Q3: 222,738 shares; 2025Q4: 222,738 shares 222,738$4.47M2.08%0Timeline
NSPINSPERITY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 96,300 shares 96,300$3.73M1.74%newTimeline
UFIUNIFI INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 233,777 shares; 2025Q1: 731,535 shares; 2025Q2: 981,535 shares; 2025Q3: 977,639 shares; 2025Q4: 852,455 shares 852,455$2.98M1.39%-125,184Timeline
FARMFARMER BROS COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,955,526 shares; 2024Q4: 1,955,526 shares; 2025Q1: 1,955,526 shares; 2025Q2: 1,955,526 shares; 2025Q3: 1,955,526 shares; 2025Q4: 1,955,526 shares 1,955,526$2.86M1.33%0Timeline
TISITEAM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 34,835 shares; 2025Q2: 171,090 shares; 2025Q3: 170,187 shares; 2025Q4: 170,187 shares 170,187$2.4M1.12%0Timeline
RZLTREZOLUTE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 820,653 shares; 2025Q4: 820,653 shares 820,653$1.94M0.9%0Timeline
ELDNELEDON PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 636,364 shares; 2025Q2: 636,364 shares; 2025Q3: 636,364 shares; 2025Q4: 636,364 shares 636,364$961K0.45%0Timeline
SSKNSTRATA SKIN SCIENCES INC COM SQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 536,995 shares; 2024Q4: 536,995 shares; 2025Q1: 536,995 shares; 2025Q2: 536,995 shares; 2025Q3: 536,995 shares; 2025Q4: 536,995 shares 536,995$677K0.32%0Timeline
PMDIPSYCHEMEDICS CORP COM PAR $.00Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 276,034 shares; 2025Q1: not reported; 2025Q2: 276,034 shares; 2025Q3: 276,034 shares; 2025Q4: 276,034 shares 276,034$442K0.21%0Timeline

Sold out in Q4 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
DHXDHI GROUP INC2,036,988$5.66Mshares
AEBIAEBI SCHMIDT HLDG AG347,840$4.34Mshares

How Q4 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001214659-26-001725 base2026-02-13acceptance time not in the bulk data set