Western Standard 13F annual report

Western Standard is an investment fund managing more than $114 billion ran by Eric Andersen. There are currently 28 companies in Mr. Andersen’s portfolio. The largest investments include Merrimack Pharmaceuticals In and LHC Inc, together worth $27.5 billion.

$114 billion Assets Under Management (AUM)

As of 7th August 2023, Western Standard’s top holding is 1,529,494 shares of Merrimack Pharmaceuticals In currently worth over $17.5 billion and making up 15.4% of the portfolio value. In addition, the fund holds 61,730 shares of LHC Inc worth $9.98 billion, whose value grew 2.5% in the past six months. The third-largest holding is Opiant Pharmaceuticals Inc worth $8.6 billion and the next is Bristow Group Inc worth $6.57 billion, with 242,134 shares owned.

Currently, Western Standard's portfolio is worth at least $114 billion. The total portfolio value may be much higher due to cash assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents.

Careers at Western Standard

The Western Standard office and employees reside in Los Angeles, California. According to the last 13-F report filed with the SEC, Eric Andersen serves as the Managing Member at Western Standard.

Recent trades

In the most recent 13F filing, Western Standard revealed that it had opened a new position in Opiant Pharmaceuticals Inc and bought 424,080 shares worth $8.6 billion. This means they effectively own approximately 0.1% of the company. Opiant Pharmaceuticals Inc makes up 32.7% of the fund's Health Care sector allocation and has decreased its share price by approximately 0.1% in the past year.

The investment fund also strengthened its position in Merrimack Pharmaceuticals In by buying 259,936 additional shares. This makes their stake in Merrimack Pharmaceuticals In total 1,529,494 shares worth $17.5 billion.

On the other hand, there are companies that Western Standard is getting rid of from its portfolio. Western Standard closed its position in Macquarie Infrastructure Hol on 14th August 2023. It sold the previously owned 3,276,941 shares for $12.8 million. Eric Andersen also disclosed a decreased stake in iRhythm Technologies Inc by 0.3%. This leaves the value of the investment at $2.77 billion and 29,560 shares.

One of the smallest hedge funds

The two most similar investment funds to Western Standard are Mcalister, Sweet & Associates and Meditor Ltd. They manage $115 billion and $115 billion respectively.

Eric Andersen investment strategy

Western Standard’s portfolio is diversified across 8 sectors. Currently, their heaviest sector is Health Care — making up 23.1% of the total portfolio value. The fund focuses on investments in the United States as 50.0% of the portfolio companies are based in the United States.

The majority of the companies in the fund’s portfolio are large-cap stocks. Stocks with a size of more than $10 billion in market cap make up 4% of the total holdings value. On the other hand, small-cap stocks make up only 3.6% of the portfolio. The average market cap of the portfolio companies is close to $3 billion.

The complete list of Western Standard trades based on 13F SEC filings

These positions were updated on August 14th based on the fund’s latest 13F filing. Quickly find out what the most recently closed or increased positions are.

Security	Shares Owned	Value	Allocation
Merrimack Pharmaceuticals In	20.47% 1,529,494	$17,528,001,000	15.43%
LHC Group Inc	109.83% 61,730	$9,981,124,000	8.78%
Opiant Pharmaceuticals Inc	Opened 424,080	$8,600,342,000	7.57%
Bristow Group Inc	382.29% 242,134	$6,569,095,000	5.78%
Rlj Lodging Tr	Opened 269,528	$6,412,071,000	5.64%
Axalta Coating Sys Ltd	Opened 248,878	$6,338,923,000	5.58%
Ecovyst Inc	26.09% 666,487	$5,905,075,000	5.20%
Park Aerospace Corp	8.23% 403,231	$5,407,328,000	4.76%
Spectrum Brands Hldgs Inc Ne	Opened 84,639	$5,156,208,000	4.54%
Select Med Hldgs Corp	Opened 200,558	$4,979,855,000	4.38%
Healthstream Inc	46.09% 195,231	$4,849,538,000	4.27%
Vector Group Ltd	Opened 398,447	$4,725,581,000	4.16%
Turning Pt Brands Inc	39.17% 214,817	$4,646,492,000	4.09%
Verisign Inc.	Opened 21,877	$4,494,411,000	3.96%
BWX Technologies Inc	83.75% 71,355	$4,144,298,000	3.65%
iRhythm Technologies Inc	30.93% 29,560	$2,768,885,000	2.44%
Pathward Financial Inc	70.10% 59,966	$2,581,536,000	2.27%
Marcus Corp.	52.15% 143,882	$2,070,462,000	1.82%
Mirion Technologies Inc	Opened 291,235	$1,925,063,000	1.69%
Old Point Finl Corp	24.00% 46,081	$1,244,187,000	1.10%
Boot Barn Holdings Inc	Opened 17,106	$1,069,467,000	0.94%
Delta Apparel Inc.	74.47% 88,043	$934,136,000	0.82%
NI Holdings Inc	50.18% 59,435	$788,702,000	0.69%
Laureate Education Inc	Opened 18,300	$176,046,000	0.15%
Sio Gene Therapies Inc	Opened 294,397	$128,063,000	0.11%
Bellus Health Inc	94.51% 10,600	$87,132,000	0.08%
Sensei Biotherapeutics Inc	Opened 46,117	$68,714,000	0.06%
Childrens Pl Inc New	Opened 1,100	$40,062,000	0.04%
Macquarie Infrastructure Hol	Closed 3,276,941	$12,813,000
Tufin Software Technologies Ltd	Closed 747,312	$9,386,000
Rlj Lodging Tr	Closed 228,887	$5,935,000
RMR Group Inc (The)	Closed 204,486	$5,797,000
PFSWEB Inc	Closed 399,540	$4,699,000
Lamb Weston Holdings Inc	Closed 65,690	$4,694,000
First Horizon Corporation	Closed 204,050	$4,461,000
Spok Holdings Inc	Closed 627,428	$3,953,000
American Woodmark Corp.	Closed 87,310	$3,930,000
NortonLifeLock Inc	Closed 169,226	$3,716,000
Alphabet Inc	Closed 823	$1,794,000
Topgolf Callaway Brands Corp	Closed 76,176	$1,554,000
Kinnate Biopharma Inc.	Closed 102,780	$1,296,000
STRATA Skin Sciences Inc	Closed 1,136,454	$1,092,000
Ardagh Metal Packaging Sa	Closed 175,000	$1,068,000
Phathom Pharmaceuticals Inc	Closed 109,055	$920,000
Viad Corp.	Closed 30,000	$828,000
Vertiv Holdings Co	Closed 100,024	$822,000
Alpine Immune Sciences Inc	Closed 50,328	$428,000
Tilly's Inc	Closed 44,350	$311,000
No transactions found
Showing first 500 out of 48 holdings