Western Standard LLC
Western Standard LLC is a Los Angeles-based investment management firm founded in 2008. The firm specializes in managing private investment partnerships focused on US and foreign small capitalization stocks, using a research-intensive, value-driven approach. Led by Eric Andersen (Founder & Portfolio Manager), the team includes professionals with backgrounds in investment banking, private equity, and asset management. The firm serves institutional and high-net-worth investors, and a significant portion of assets are owned by employees and their families. Employee count as of recent filings is 7.
Investment Strategy
Western Standard invests globally in publicly traded securities with a primary focus on US and foreign small capitalization stocks. The firm applies a research-intensive, value-driven process that emphasizes downside risk analysis and seeks to provide substantial long-term capital appreciation with minimal risk. Western Standard partners with experienced management teams, often in industries overlooked by institutional investors due to market inefficiencies, and maintains a long-term investment horizon because 25% of assets belong to employees and their families.
Latest 13F Filing Activity
Western Standard LLC filed their most recent 13F report on Jun 30, 2025 disclosing 20 equity positions with a total 13F market value of $180M. The fund increased holdings in Keros Therapeutics Inc., Ecovyst Inc., Ezcorp Inc. among other positions. Western Standard LLC reduced exposure to First Financial Northwest in, Bristow Group Inc., Kellanova among others.
Top Holdings
Equity Positions (20)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
E ECVT | ECOVYST INC | 16.33% | $29.4M | 3,566,876 | $7.61 | $8.23 | +$18.7M |
K KROS | KEROS THERAPEUTICS INC | 11.40% | $20.5M | 1,534,893 | $13.07 | $13.35 | +$19.1M |
A ATEC | ALPHATEC HLDGS INC | 7.75% | $13.9M | 1,255,374 | $9.67 | $11.10 | +$2.4M |
| ABEONA THERAPEUTICS INC | 6.61% | $11.9M | 2,091,598 | $5.46 | $5.66 | +$1.0M | |
T TIGO | MILLICOM INTL CELLULAR S A | 6.55% | $11.8M | 313,943 | $32.30 | $37.47 | +$4.9M |
Industry Allocation
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