Cannell Capital LLC Q3 2022 vs. Q4 2022: A Breakdown of Top Holdings

Cannell Capital LLC recently released its Q3 2022 and Q4 2022 13F holdings report, and the results are in. The report sheds light on some interesting changes in the company's portfolio, including a shift in focus from certain stocks and industries to others. In this article, we'll break down the top holdings in the company's portfolio and examine the reasons behind these changes.

Build-a-Bear Workshop Inc Takes the Lead

One of the most notable changes in Cannell Capital's portfolio was the increase in holdings for Build-a-Bear Workshop Inc. In Q4 2022, the company held 1,449,035 shares of Build-a-Bear, down from 1,667,034 shares in Q3 2022. The value of these shares also increased from $22,222 in Q3 to $34,544 in Q4, representing a 55.5% change.

While it's unclear why Cannell Capital increased its holdings in Build-a-Bear, it's worth noting that the company remains one of the top performers in the retail industry, with solid year-over-year growth and a strong online presence.

Sportsman's Warehouse Holdings Inc Holds Steady

Another interesting development in Cannell Capital's portfolio was the holding steady of Sportsman's Warehouse Holdings Inc. The company held 3,321,624 shares of Sportsman's Warehouse in both Q3 and Q4, with a minor increase in value from $27,567 in Q3 to $31,265 in Q4.

Sportsman's Warehouse has been a steady performer in the sporting goods industry, with a focus on outdoor recreation and hunting. While it's unclear why Cannell Capital didn't increase or decrease its holdings in this company, it's clear that Sportsman's Warehouse remains a strong player in this space.

Select Energy Services Inc Slips in Holdings

One of the biggest drops in holdings for Cannell Capital was Select Energy Services Inc. In Q3 2022, the company held 3,427,614 shares of Select Energy, which dropped to 3,243,965 shares in Q4 2022. The value of these shares also increased from $23,890 in Q3 to $29,974 in Q4, representing a 25.5% change.

Select Energy services the oil and gas industry with water solutions, including sourcing, treating, and recycling water used in the drilling process. While it's unclear why Cannell Capital decreased its holdings in this company, it's worth noting that the oil and gas industry has faced challenges in recent years, particularly with the rise of renewable energy sources and the push for environmentally sustainable practices.

Heritage Crystal Clean Inc Gains Ground

On the other hand, one of the biggest increases in holdings for Cannell Capital was Heritage Crystal Clean Inc. In Q3 2022, the company held 687,434 shares of Heritage Crystal Clean, which increased to 800,137 shares in Q4 2022. The value of these shares also increased from $20,327 in Q3 to $25,988 in Q4, representing a 27.9% change.

Heritage Crystal Clean provides cleaning solutions for industries such as automotive repair and manufacturing. The company has seen steady growth in recent years, with a focus on expanding its product offerings and increasing market share. It's possible that Cannell Capital sees potential in this company's growth trajectory and increased its holdings accordingly.

The Bottom Line

Overall, the Q3 2022 and Q4 2022 13F holdings report from Cannell Capital LLC sheds light on some interesting changes in the company's portfolio. While it's unclear why the company increased or decreased its holdings in certain stocks, it's clear that Cannell Capital remains focused on investing in strong companies with solid growth potential. As always, investors should perform their own research and due diligence before making any investment decisions.