Analyzing Pacific Ridge Capital Partners' Q3-Q4 2022 13F Filing: Changes in Holdings and Investment Strategies

Pacific Ridge Capital Partners, LLC is a well-known investment advisory company that offers its clients several services, including portfolio and investment management. One of the ways Pacific Ridge manages portfolios is through investing in publicly traded companies by buying their stocks. As a registered investment advisor, Pacific Ridge is also required to publicly disclose their holdings every quarter, through what's called the 13F filing. This filing provides insights into the holdings of professional investors and can highlight changes in their investment strategies.

In this blog post, we'll be analyzing Pacific Ridge's Q3 2022 holdings, and comparing them to their Q4 2022 holdings. We'll be using the CSV file provided to us, which lists the 13F holdings that Pacific Ridge Capital Partners, LLC reported for Q3 2022 and Q4 2022. Let's dive in and see what we can learn from these numbers.

One of the first things we noticed in the CSV file is that Pacific Ridge made significant changes to its portfolio between Q3 2022 and Q4 2022. The biggest change was in the number of shares they held in Red Robin Gourmet Burgers (RRGB). In Q3 2022, Pacific Ridge held 146,100 shares in RRGB, but by Q4 2022, that number had skyrocketed to 426,599 shares. This represents an increase of over 190%, which is a significant change.

Another change we observed was in Pacific Ridge's holdings of Sterling Infrastructure Inc (STRL). In Q3 2022, Pacific Ridge held 351,863 shares in STRL, and by Q4 2022, that had decreased slightly to 347,380 shares. Though this change is not as drastic as the RRGB change we mentioned earlier, it is still a noteworthy decrease of around 1.3%.

Build-A-Bear Workshop (BBW) is another company that saw a significant change in Pacific Ridge's holdings between Q3 2022 and Q4 2022. In Q3 2022, Pacific Ridge held 485,418 shares in BBW, and by Q4 2022, that had decreased to 434,861 shares. That represents a decrease of over 10%, which is a notable change.

Northwest Pipe (NWPX) is another company worth highlighting. Pacific Ridge held 327,694 shares in NWPX in Q3 2022, which decreased by around 10% to 292,817 shares in Q4 2022. The decrease in shares is not necessarily indicative of reduced confidence in the company's future, but rather a strategic decision made by Pacific Ridge.

Moving on to Esquire Financial Holdings (ESQ), we observe a decrease of around 34.7% in the number of shares held, from 244,888 shares in Q3 2022 to 161,651 shares in Q4 2022. This reduction in shares held could be a sign of Pacific Ridge reducing its exposure to the company due to uncertainty about its future performance.

In contrast, Asure Software (ASUR) saw a relatively small decrease in shares held by Pacific Ridge Capital Partners, LLC. From 950,335 shares in Q3 2022, Pacific Ridge held 936,985 shares in Q4 2022, which represents a decrease of around 1.4%. This slight decrease in shares held could indicate some concerns about the company, though it is not a major change.

In conclusion, the CSV file provided offers us some valuable insights into the changes in Pacific Ridge Capital Partners, LLC's holdings between Q3 2022 and Q4 2022. The changes ranged from significant increases in holdings, such as Red Robin Gourmet Burgers, to noticeable reductions in holdings, such as Build-A-Bear Workshop. It is important to note that these changes are reflective of Pacific Ridge's investment strategy, and may not necessarily indicate the overall sentiment towards these companies. As an investor, it is essential to do your own research and make informed investment decisions.