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Western Standard LLC

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13F filer, CIK 1517666, Los Angeles, CA

Western Standard LLC reported $179,712,427 across 20 holdings for the quarter ended 2025-06-30, in a 13F-HR filed 2025-08-14. Its ten largest share positions make up 75.43% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0000950123-25-008344

Period
2025-06-30
Reported value
$180M
Holdings
20
Top 10 weight
75.43%
New
2
Sold out
11

Largest buys vs the previous quarter

SecurityShares changeApprox. value
KROSadded+1,399,979$18.7M
ECVTadded+1,855,034$15.3M
EZPWnew+530,000$7.36M
YETIadded+227,990$7.19M
AIVadded+440,770$3.81M

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
FIRST FINANCIAL NORTHWEST INexited-923,000-$20.9M
VTOLexited-588,568-$18.6M
Kreduced-164,807-$13.1M
OSGexited-699,352-$6.12M
MERIDIANLINK INCexited-307,010-$5.69M

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, Q2 2025

Share positions as resolved from 13F-HR 0000950123-25-008344, largest first. % of portfolio is the value over $179,712,427, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
ECVTECOVYST INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 698,036 shares; 2024Q4: 1,251,626 shares; 2025Q1: 1,711,842 shares; 2025Q2: 3,566,876 shares 3,566,876$29.4M16.33%+1,855,034Timeline
KROSKEROS THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 134,914 shares; 2025Q2: 1,534,893 shares 1,534,893$20.5M11.4%+1,399,979Timeline
ATECALPHATEC HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 726,373 shares; 2025Q1: 1,141,489 shares; 2025Q2: 1,255,374 shares 1,255,374$13.9M7.75%+113,885Timeline
ABEOABEONA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,698,097 shares; 2024Q4: 2,084,418 shares; 2025Q1: 2,281,199 shares; 2025Q2: 2,091,598 shares 2,091,598$11.9M6.61%-189,601Timeline
TIGOMILLICOM INTL CELLULAR S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 225,414 shares; 2025Q2: 313,943 shares 313,943$11.8M6.55%+88,529Timeline
POTBELLY CORPPOTBELLY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 400,769 shares; 2024Q4: 329,973 shares; 2025Q1: 701,323 shares; 2025Q2: 927,593 shares 927,593$11.4M6.32%+226,270
YETIYETI HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 111,667 shares; 2025Q1: 106,327 shares; 2025Q2: 334,317 shares 334,317$10.5M5.86%+227,990Timeline
CWCOCONSOLIDATED WATER CO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 225,661 shares; 2025Q2: 323,685 shares 323,685$9.72M5.41%+98,024Timeline
AIVAPARTMENT INVT & MGMT COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 493,626 shares; 2024Q4: 649,086 shares; 2025Q1: 618,386 shares; 2025Q2: 1,059,156 shares 1,059,156$9.16M5.1%+440,770Timeline
EZPWEZCORP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 530,000 shares 530,000$7.36M4.09%newTimeline
DRVNDRIVEN BRANDS HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 241,077 shares; 2025Q2: 409,677 shares 409,677$7.19M4%+168,600Timeline
AVNWAVIAT NETWORKS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 197,728 shares; 2025Q2: 267,906 shares 267,906$6.44M3.59%+70,178Timeline
GDOTGREEN DOT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 400,000 shares; 2025Q2: 580,385 shares 580,385$6.26M3.48%+180,385Timeline
NPKNATIONAL PRESTO INDS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 53,500 shares; 2025Q2: 60,730 shares 60,730$5.95M3.31%+7,230Timeline
UUPINVESCO DB US DLR INDEX TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 181,653 shares; 2025Q1: 185,453 shares; 2025Q2: 185,453 shares 185,453$4.98M2.77%0Timeline
NBNNORTHEAST BK PORTLAND MEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 34,116 shares; 2024Q4: 44,858 shares; 2025Q1: 46,528 shares; 2025Q2: 53,078 shares 53,078$4.72M2.63%+6,550Timeline
NNINELNET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 24,471 shares; 2025Q1: 31,675 shares; 2025Q2: 36,315 shares 36,315$4.4M2.45%+4,640Timeline
EVERI HLDGS INCEVERI HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 143,450 shares; 2024Q4: 144,650 shares; 2025Q1: 144,650 shares; 2025Q2: 144,650 shares 144,650$2.06M1.15%0
PRTSCARPARTS COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 1,923,737 shares 1,923,737$1.42M0.79%newTimeline
KKELLANOVAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 64,000 shares; 2024Q4: 84,250 shares; 2025Q1: 173,846 shares; 2025Q2: 9,039 shares 9,039$719K0.4%-164,807Timeline

Sold out in Q2 2025

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

SecurityShares beforeValue beforeType
FIRST FINANCIAL NORTHWEST INFIRST FINANCIAL NORTHWEST IN923,000$20.9Mshares
VTOLBRISTOW GROUP INC588,568$18.6Mshares
OSGOCTAVE SPECIALTY GROUP INC699,352$6.12Mshares
MERIDIANLINK INCMERIDIANLINK INC307,010$5.69Mshares
CHWYCHEWY INC92,673$3.01Mshares
EQCEQUITY COMMONWEALTH1,376,613$2.22Mshares
BOOTBOOT BARN HLDGS INC14,400$1.55Mshares
FUNSIX FLAGS ENTERTAINMENT CORP43,000$1.53Mshares
LOCOEL POLLO LOCO HLDGS INC125,000$1.29Mshares
Bitcoin Depot IncBitcoin Depot Inc615,433$929Kshares
CMTCORE MOLDING TECHNOLOGIES IN28,544$434Kshares

How Q2 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 0000950123-25-008344 base2025-08-14acceptance time not in the bulk data set