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2L
22NW LP Portfolio holdings
AUM
$146M
1-Year Est. Return
29.83%
This Fund
S&P 500
This Quarter
Est. Return
-13.84%
1 Year Est. Return
+29.83%
3 Year Est. Return
+131.37%
5 Year Est. Return
+199.25%
10 Year Est. Return
–
AUM
$149M
AUM Growth
-$9.44M
(-6%)
Cap. Flow
+$16.7M
Cap. Flow
% of AUM
11.22%
Top 10 Holdings %
Top 10 Hldgs %
85.61%
Holding
22
New
6
Increased
3
Reduced
1
Closed
2
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Stoneridge
SRI
|
+$6.53M |
| 2 |
Mineralys Therapeutics
MLYS
|
+$5.31M |
| 3 |
Regenxbio
RGNX
|
+$4.97M |
| 4 |
UNIFI
UFI
|
+$2.79M |
| 5 |
Eledon Pharmaceuticals
ELDN
|
+$2.62M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Barrett Business Services
BBSI
|
+$5.52M |
| 2 |
Manitowoc
MTW
|
+$3.25M |
| 3 |
Lantheus
LNTH
|
+$3.09M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 47.9% |
| 2 | Industrials | 28.96% |
| 3 | Consumer Discretionary | 13.61% |
| 4 | Financials | 4.19% |
| 5 | Consumer Staples | 2.91% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Lifecore Biomedical
LFCR
$162M
| $29.8M | 20% |
1,755,161
| – | – |
|
2
Foster
FSTR
$443M
| $25.8M | 17.33% |
1,313,121
| – | – |
|
|
ANEB
3
DELISTED
Anebulo Pharmaceuticals
ANEB
| $20.1M | 13.49% |
15,467,300
| – | – |
|
4
Sterling Infrastructure
STRL
$20.3B
| $11.3M | 7.58% |
99,783
| – | – |
|
5
Culp Inc
CULP
$45M
| $9.3M | 6.23% |
1,859,061
+234,346
| +14% | +$1.24M |
|
|
6
Stoneridge
SRI
$209M
| $7.47M | 5.01% |
1,627,653
+1,284,866
| +375% | +$6.53M |
|
|
7
Mineralys Therapeutics
MLYS
$2.35B
| $7.33M | 4.91% |
+461,344
| New | +$5.31M |
|
8
PhenixFIN
PFX
$83.9M
| $6.25M | 4.19% |
117,885
| – | – |
|
|
9
Barrett Business Services
BBSI
$976M
| $5.45M | 3.66% |
132,452
-132,452
| -50% | -$5.52M |
|
|
10
Regenxbio
RGNX
$623M
| $4.78M | 3.21% |
+668,679
| New | +$4.97M |
|
|
FARM
11
DELISTED
Farmer Brothers
FARM
| $4.34M | 2.91% |
1,955,526
| – | – |
|
12
DHI Group
DHX
$166M
| $3.62M | 2.43% |
2,603,643
| – | – |
|
|
13
UNIFI
UFI
$117M
| $3.52M | 2.36% |
731,535
+497,758
| +213% | +$2.79M |
|
|
14
Eledon Pharmaceuticals
ELDN
$276M
| $2.16M | 1.45% |
+636,364
| New | +$2.62M |
|
|
CMPS
15
Compass Pathways
CMPS
$1.52B
| $1.85M | 1.24% |
+646,559
| New | +$2.48M |
|
16
Keros Therapeutics
KROS
$199M
| $1.82M | 1.22% |
+179,000
| New | +$2.08M |
|
17
Nektar Therapeutics
NKTR
$2.39B
| $1.49M | 1% |
146,117
| – | – |
|
|
SSKN
18
DELISTED
Strata Skin Sciences
SSKN
| $1.42M | 0.95% |
536,995
| – | – |
|
|
PMD
19
DELISTED
Psychemedics Corporation
PMD
| $643K | 0.43% |
276,034
| – | – |
|
20
Team
TISI
$77.7M
| $589K | 0.4% |
+34,835
| New | +$566K |
|
|
21
Lantheus
LNTH
$6.82B
| – | – |
-34,562
| Closed | -$3.09M |
|
|
22
Manitowoc
MTW
$516M
| – | – |
-356,115
| Closed | -$3.25M |
|
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22NW LP's Q1 2025 Portfolio in Review
As of Q1 2025, 22NW LP held 22 positions worth $149M, down 6% from $159M the previous quarter. Its ten largest holdings account for 86% of the portfolio.
22NW LP deployed $16.7M of net new capital in Q1 2025, opening 6 new positions and adding to 3 existing holdings. Its largest new stake was Mineralys Therapeutics: 461,344 shares worth $7.33M.
By sector, the portfolio is most concentrated in Healthcare at 48% of assets, up from 41% a quarter earlier, followed by Industrials and Consumer Discretionary.
On the sell side, the largest reduction was Barrett Business Services, an estimated $5.52M trimmed.
- 22NW LP's largest Q1 2025 buy was Mineralys Therapeutics: 461,344 shares worth $7.33M.
- 22NW LP added most to Stoneridge in Q1 2025, an estimated $6.53M increase.
- 22NW LP's biggest Q1 2025 reduction was Barrett Business Services, cutting an estimated $5.52M.
- 22NW LP fully exited Manitowoc in Q1 2025, selling an estimated $3.25M.
- 22NW LP's ten largest holdings make up 86% of its $149M portfolio in Q1 2025.
- 22NW LP opened 6 new positions and closed 2 in Q1 2025.
- 22NW LP's portfolio value fell 6% quarter-over-quarter to $149M.
Based on 22NW LP's 13F filing for Q1 2025, filed 14 May 2025.