Wynnefield Capital Inc Q3 2022 vs. Q4 2022 13F Holdings Comparison: Insights and Analysis

Wynnefield Capital, an activist investment firm focused on small-cap stocks, recently released its latest Form 13F regulatory filing for the third and fourth quarters of 2022. Based on public filings, the fund decreased its total holdings by 1.1%, from $115.3 million to $114.1 million. This decrease can be attributed to the fund's trimming of the portfolio, as well as the overall market's decline in Q4 2022.

DLH Holdings Corp remained the top holding in the fund for both quarters, with the same number of shares held. However, it experienced a slight decrease of 3.5% in value from $48.2 million to $46.6 million. Cadre Holdings Inc and Lifecore Biomedical Inc saw a decline in shares held and a decrease in value by 7.5% and 7.9%, respectively.

Quest Resource Holding Corp experienced the most significant decrease, with a 27.6% drop in value from $21.7 million to $15.7 million. Conversely, S&W Seed Co saw a 104.1% increase in value to $6.7 million from $3.3 million in the previous quarter, making it the top gainer in the fund.

Some holdings were liquidated entirely, including Clarus Corp, Learning Tree International, and ImageWare Systems Inc. Meanwhile, Tile Shop Hldgs and Leatt Corp experienced a surge in value by 179.3% and 23.2% respectively.

The Fund's top ten holdings accounted for 58.7% of its entire portfolio in Q4 2022, up from 55.8% in Q3 2022. The remaining positions were spread across a diverse range of industries, such as construction, mining, and healthcare.

In conclusion, Wynnefield Capital's latest 13F regulatory filings reflect the fund's trimming of the portfolio and the impact of the market decline in Q4 2022. The fund remains focused on small-cap stocks, with certain holdings experiencing drops in value and others seeing a surge. Despite the fluctuations, the top ten holdings remained relatively stable, highlighting the fund's concentrated and strategic investment approach.