SEC 13F Intelligence

Managers / Q1 2023 · view latest →

Acuitas Investments, LLC

CIK 0001524828 · 520 PIKE STREET, SUITE 1221, SEATTLE, WA, 98101 · 206-299-2070

Reported Value
$97M
Q1 2023
Positions
41
Filings on Record
30
2019–present window
Filed
May 2, 2023
original filing

Summary

Acuitas Investments, LLC reported $97M in U.S.-listed holdings across 41 positions for Q1 2023.

Its largest position, Silicom, represents 6.8% of the portfolio.

Compared with Q4 2022, the fund opened 8 new positions and exited 7.

Portfolio Metrics

Turnover
+27.2%
vs prior filed quarter
Top-10 Concentration
+44.7%
share of reported value
Largest Position
+6.8%
Silicom
New / Exited
8 / 7
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q2 ’20: $80MQ2 ’20Q3 ’20: $143MQ4 ’20: $154MQ1 ’21: $174MQ1 ’21Q2 ’21: $200MQ3 ’21: $229MQ4 ’21: $235MQ4 ’21Q1 ’22: $106MQ2 ’22: $83MQ3 ’22: $96MQ3 ’22Q4 ’22: $99MQ1 ’23: $97MQ2 ’23: $172MQ2 ’23Q3 ’23: $170MQ4 ’23: $192MQ1 ’24: $198MQ1 ’24Q2 ’24: $187MQ3 ’24: $224MQ4 ’24: $122MQ4 ’24Q1 ’25: $117MQ2 ’25: $126MQ3 ’25: $156MQ3 ’25Q1 ’26: $1Mfilingsflow.com

Portfolio Composition

By security type
Common Stock: 80.3%Other: 12.4%REIT: 4.3%ADR: 2.9%
  • Common Stock · 80.3% · $78M
  • Other · 12.4% · $12M
  • REIT · 4.3% · $4M
  • ADR · 2.9% · $3M

Quarter-over-Quarter Changes full breakdown →

vs Q4 2022 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
RRGBRED ROBIN GOURMET BURGERS INNEW+321.0K321.0K+$5M$5M
NGVCNATURAL GROCERS BY VITAMIN CNEW+259.4K259.4K+$3M$3M
CHICOS FAS INCNEW+553.3K553.3K+$3M$3M
SKYWSKYWEST INCNEW+135.8K135.8K+$3M$3M
SBHSALLY BEAUTY HLDGS INCNEW+189.0K189.0K+$3M$3M
ETONETON PHARMACEUTICALS INCNEW+468.7K468.7K+$2M$2M
FIVNFIVE9 INCNEW+5.9K5.9K+$426,511$426,511
SNFCASECURITY NATL FINL CORPNEW+19.4K19.4K+$120,862$120,862

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q1 2023

41 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1SILICOM LTDORD6.76%$7M174.6K
2FCFRANKLIN COVEY COhistory →COM5.10%$5M128.4K
3RRGBRED ROBIN GOURMET BURGERS INhistory →COM4.75%$5M321.0K
4TRCTEJON RANCH COhistory →COM4.68%$5M247.8K
5UTIUNIVERSAL TECHNICAL INST INChistory →COM4.57%$4M599.6K
6ALEXALEXANDER & BALDWIN INC NEWhistory →COM4.34%$4M222.2K
7YATRA ONLINE INCORD SHS4.21%$4M1.79M
8TBBKBANCORP INC DELhistory →COM3.65%$4M126.7K
9TASEKO MINES LTDCOM3.35%$3M1.95M
10OREUROSISKO GOLD ROYALTIES LTDhistory →COM3.28%$3M200.9K
11NGVCNATURAL GROCERS BY VITAMIN Chistory →COM3.15%$3M259.4K
12STRLSTERLING INFRASTRUCTURE INChistory →COM3.15%$3M80.5K
13CHICOS FAS INCCOM3.14%$3M553.3K
14SKYWSKYWEST INChistory →COM3.11%$3M135.8K
15SBHSALLY BEAUTY HLDGS INChistory →COM3.04%$3M189.0K
16HLXHELIX ENERGY SOLUTIONS GRP Ihistory →COM2.98%$3M372.7K
17VLRSCONTROLADORA VUELA COMP DE Ahistory →SPON ADR RP 102.93%$3M228.1K
18SEISOLARIS OILFIELD INFRASTRUCThistory →COM CL A2.62%$3M297.3K
19ORION ENERGY SYS INCCOM2.39%$2M1.14M
20ITERIS INC NEWCOM2.39%$2M492.6K
21TRUECAR INCCOM2.34%$2M985.2K
22NGSNATURAL GAS SVCS GROUP INChistory →COM2.28%$2M213.9K
23POWLPOWELL INDS INChistory →COM2.26%$2M51.4K
24HAYNES INTL INCCOM NEW2.19%$2M42.3K
25X0M1XOMA CORP DELhistory →COM NEW1.90%$2M86.9K
26ETONETON PHARMACEUTICALS INChistory →COM1.86%$2M468.7K
27DIAMOND OFFSHORE DRILLING INCOM1.76%$2M141.2K
28ANDEANDERSONS INChistory →COM1.63%$2M38.2K
29WEAVWEAVE COMMUNICATIONS INChistory →COM1.46%$1M284.4K
30ABCAM PLCADS1.43%$1M102.7K
31PETIQ INCCOM CL A1.34%$1M113.5K
32NOANORTH AMERN CONSTR GROUP LTDhistory →COM1.18%$1M68.1K
33RELLRICHARDSON ELECTRS LTDhistory →COM1.13%$1M49.1K
34DRIL-QUIP INCCOM1.05%$1M35.3K
35NVECNVE CORPhistory →COM NEW1.00%$968,24411.7K
36SMLRSEMLER SCIENTIFIC INCCOM0.50%$479,72017.9K
37FIVNFIVE9 INCCOM0.44%$426,5115.9K
38MRAMEVERSPIN TECHNOLOGIES INCCOM0.27%$265,59039.0K
39RUSHARUSH ENTERPRISES INCCL A0.19%$185,6403.4K
40SNFCASECURITY NATL FINL CORPCL A NEW0.12%$120,86219.4K
41OOMAOOMA INCCOM0.06%$58,7974.7K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$1M9Apr 29, 202613F-HRchanges · EDGAR ↗
Q4 2025Under review1Jan 27, 202613F-HRchanges · EDGAR ↗
Q3 2025$156M52Nov 18, 2025RESTATEMENTchanges · EDGAR ↗
Q2 2025$126M53Jul 31, 202513F-HRchanges · EDGAR ↗
Q1 2025$117M66Apr 28, 202513F-HRchanges · EDGAR ↗
Q4 2024$122M63Jan 31, 202513F-HRchanges · EDGAR ↗
Q3 2024$224M117Nov 7, 202413F-HRchanges · EDGAR ↗
Q2 2024$187M119Aug 5, 202413F-HRchanges · EDGAR ↗
Q1 2024$198M123May 10, 202413F-HRchanges · EDGAR ↗
Q4 2023$192M117Feb 2, 202413F-HRchanges · EDGAR ↗
Q3 2023$170M115Oct 27, 202313F-HRchanges · EDGAR ↗
Q2 2023$172M107Aug 7, 202313F-HRchanges · EDGAR ↗
Q1 2023$97M41May 2, 202313F-HRchanges · EDGAR ↗
Q4 2022$99M40Feb 6, 202313F-HRchanges · EDGAR ↗
Q3 2022$96M42Nov 2, 202213F-HRchanges · EDGAR ↗
Q2 2022$83M31Aug 3, 202213F-HRchanges · EDGAR ↗
Q1 2022$106M32May 6, 202213F-HRchanges · EDGAR ↗
Q4 2021$235M66Feb 8, 202213F-HRchanges · EDGAR ↗
Q3 2021$229M68Oct 27, 202113F-HRchanges · EDGAR ↗
Q2 2021$200M69Aug 24, 2021RESTATEMENTchanges · EDGAR ↗
Q1 2021$174M72May 11, 202113F-HRchanges · EDGAR ↗
Q4 2020$154M66Feb 4, 202113F-HRchanges · EDGAR ↗
Q3 2020$143M65Nov 9, 2020RESTATEMENTchanges · EDGAR ↗
Q2 2020$80M38Aug 11, 202013F-HRchanges · EDGAR ↗

Other Included Managers

This filing reports holdings on behalf of 18 additional managers.

  • ClariVest Asset Management LLC028-12126
  • Monarch Partners Asset Management LLC028-15158
  • Pacific Ridge Capital Partners, LLC028-15835
  • Ranger Investment Management, L.P.028-11311
  • JCSD Capital, LLC028-16516
  • AltraVue Capital, LLC028-19044
  • GLOBEFLEX CAPITAL L P028-04886
  • PZENA INVESTMENT MANAGEMENT LLC028-03791
  • Granahan Investment Management, LLC028-05876
  • Tieton Capital Management, LLC028-14613
  • MACKENZIE FINANCIAL CORP028-05178
  • Meros Investment Management, LP028-22239
  • TimesSquare Capital Management, LLC028-11092
  • ADVISORY RESEARCH INC028-05637
  • EAM Investors, LLC028-14070
  • SIGNIA CAPITAL MANAGEMENT LLC028-12115
  • Seven Canyons Advisors, LLC
  • Cobia Capital Management LP

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.