22NW, LP

Q4 2025 13F-HR Holdings

Location
Seattle, WA
Holdings as of
12/31/2025
Date filed
2/13/2026
Form type
13F-HR
Num holdings
20
Total value ($000)
$237,584
Net value change ($000)
+25,323 (11.9%)
New positions
1
Sold out positions
2
Turnover %
5.8%
Sector allocation + QoQ delta (equities-only)
Prev filing: 11/14/2025 Next filing: — SEC filing

Snapshot: Change Analysis

Compared to Q3 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
ANEB 46,093 119.2%
RGNX 4,387 49.2%
NSP 3,729 NEW
LFCR 2,879 14.3%
MEC 2,253 40.9%
Top Reduces (Value $000, Stocks/ETFs)
RZLT -5,777 -74.9%
DHX -5,663 -100.0%
NKTR -4,840 -25.7%
AEBI -4,338 -100.0%
SRI -3,349 -20.9%
FSTR -3,290 -9.3%
CULP -1,673 -20.2%
UFI -1,670 -35.9%
ELDN -687 -41.7%
MLYS -584 -4.3%
Instrument mix + QoQ Δ (ex-options)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type