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WSL

Western Standard LLC Portfolio holdings

AUM $190M
1-Year Est. Return 40.88%
This Fund
S&P 500
This Quarter Est. Return
+11.44%
1 Year Est. Return
+40.88%
3 Year Est. Return
+68.87%
5 Year Est. Return
+221.93%
10 Year Est. Return
–
AUM
$83.4M
AUM Growth
-$25M
Cap. Flow
-$42.9M
Cap. Flow %
-51.5%
Top 10 Hldgs %
77.15%
Holding
39
New
5
Increased
8
Reduced
4
Closed
14

Top Buys

Rank Stock Value
1
LM
Legg Mason, Inc.
LM
+$14.1M
2
BMY.RT
Bristol-Myers Squibb Company Contingent Value Rights
BMY.RT
+$2.23M
3
EVA
Enviva Inc.
EVA
+$1.53M
4
ECHO
EchoStar
ECHO
+$1.11M
5
TLYS icon
Tilly's
TLYS
+$1.05M

Top Sells

Rank Stock Value
1
AGN
Allergan plc
AGN
+$26M
2
WMGI
Wright Medical Group Inc
WMGI
+$7.41M
3
RLJ.PRA icon
RLJ Lodging Trust $1.95 Series A Preferred Stock
RLJ.PRA
+$4.11M
4
VTOL icon
Bristow Group
VTOL
+$3.07M
5
CY
Cypress Semiconductor
CY
+$2.87M

Sector Composition

Rank Sector Weight
1 Financials 32.94%
2 Communication Services 9.04%
3 Consumer Discretionary 9.02%
4 Real Estate 6.31%
5 Consumer Staples 5.23%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
FET icon
26
Forum Energy Technologies
FET
$654M
– –
-55,507
Closed -$197K
JNK icon
27
PUT
State Street SPDR Bloomberg High Yield Bond ETF
JNK
$7.05B
– –
-205,200
Closed -$2.9M
NEN icon
28
New England Realty Associates
NEN
$197M
– –
-15,590
Closed -$732K
VTOL icon
29
Bristow Group
VTOL
$1.35B
– –
-287,681
Closed -$3.07M
SPLP
30
DELISTED
STEEL PARTNERS HOLDINGS L.P.
SPLP
– –
-20,283
Closed -$110K
LSXMA
31
DELISTED
Liberty Media Corporation Series A Liberty SiriusXM Common Stock
LSXMA
– –
-79,029
Closed -$1.81M
SIRE
32
DELISTED
Sisecam Resources LP
SIRE
– –
-114,972
Closed -$1.19M
MRLN
33
DELISTED
Marlin Business Services Corp
MRLN
– –
-221,374
Closed -$2.47M
WMGI
34
DELISTED
Wright Medical Group Inc
WMGI
– –
-258,594
Closed -$7.41M
AGN
35
DELISTED
Allergan plc
AGN
– –
-146,558
Closed -$26M
CMO
36
DELISTED
Capstead Mortgage Corp.
CMO
– –
-324,215
Closed -$1.36M
CY
37
DELISTED
Cypress Semiconductor
CY
– –
-123,052
Closed -$2.87M
CWBC
38
DELISTED
Community West BanCshares
CWBC
– –
-55,300
Closed -$337K
1
2

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G
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Western Standard LLC's Q2 2020 Portfolio in Review

As of Q2 2020, Western Standard LLC held 39 positions worth $83.4M, down 23% from $108M the previous quarter. Its ten largest holdings account for 77% of the portfolio.

Western Standard LLC withdrew a net $42.9M in Q2 2020, closing 14 positions and reducing 4 holdings. Its most notable exit was Allergan plc, an estimated $26M position sold in full.

By sector, the portfolio is most concentrated in Financials at 33% of assets, up from 11% a quarter earlier, followed by Communication Services and Consumer Discretionary.

Against the trend, Western Standard LLC opened a new position in Enviva Inc. worth $1.66M.

  • Western Standard LLC's largest Q2 2020 buy was Enviva Inc.: 46,000 shares worth $1.66M.
  • Western Standard LLC added most to Legg Mason, Inc. in Q2 2020, an estimated $14.1M increase.
  • Western Standard LLC's biggest Q2 2020 reduction was RLJ Lodging Trust $1.95 Series A Preferred Stock, cutting an estimated $4.11M.
  • Western Standard LLC fully exited Allergan plc in Q2 2020, selling an estimated $26M.
  • Western Standard LLC's ten largest holdings make up 77% of its $83.4M portfolio in Q2 2020.
  • Western Standard LLC opened 5 new positions and closed 14 in Q2 2020.
  • Western Standard LLC's portfolio value fell 23% quarter-over-quarter to $83.4M.

Based on Western Standard LLC's 13F filing for Q2 2020, filed 14 Aug 2020.