Cannell Capital
J. Carlo CannellALTA, WYfiles as CANNELL CAPITAL LLC
$143m in 34 US stocks at the end of 30 June 2026. The top 10 are 57.6% of the money. It changed about 23.2% of the portfolio this quarter.
Value
$143m
Stocks
34
Top 10 share
57.6%
Turnover
23.2%
What changed this quarter
New
Bought for the first time this quarter.
- Vitesse EnergyVTS4.0% of the fund
- ShimmickSHIM3.1% of the fund
- Pure CyclePCYO2.4% of the fund
- KVH IndustriesKVHI0.8% of the fund
- Lincoln Educational ServicesLINC0.1% of the fund
- CompassCOMP0.1% of the fund
- Cronos GroupCRON<0.1% of the fund
Added
Bought more of a stock they already held.
- Chegg5.4% of the fund+18%
- Mimedx GroupMDXG5.0% of the fund+25%
- OwletOWLT4.9% of the fund+24%
- Verrica PharmaceuticalsVRCA3.3% of the fund+14%
- SAN Juan Basin Royalty TrustSJT2.7% of the fund+33%
- Accelerant HoldingsARX1.4% of the fund+10%
- Network-1 TechnologiesNTIP1.3% of the fund+12%
- CheggCHGG0.6% of the fund+111%
- Outdoor HoldingPOWW0.5% of the fund+853%
- Stitch FixSFIX0.2% of the fund+2%
Cut
Sold some of their stake.
- North American Construction GroupNOA7.3% of the fund-19%
- Ethos TechnologiesLIFE5.2% of the fund-10%
- Orasure TechnologiesOSUR4.4% of the fund-29%
- Eton PharmaceuticalsETON4.3% of the fund-50%
- NPK InternationalNPKI4.0% of the fund-45%
- Natural Gas Services GroupNGS3.7% of the fund-36%
- Build-A-Bear WorkshopBBW2.2% of the fund-4%
- LEE EnterprisesLEE2.2% of the fund-21%
- American Public EducationAPEI0.3% of the fund-90%
- TheRealRealREAL0.2% of the fund-16%
Sold out
Sold their entire stake.
- Turning Point BrandsTPB-100%
- Calavo Growers-100%
- GpgiGPGI-100%
- Cavco IndustriesCVCO-100%
- Primeenergy ResourcesPNRG-100%
- Oportun FinancialOPRT-100%
- Flowco HoldingsFLOC-100%
- Mama's CreationsMAMA-100%
Holdings
- SndlSNDL
- Share
- 8.1%
- Value
- $12m
- Shares
- 8,639,381
Held
- North American Construction GroupNOA
- Share
- 7.3%
- Value
- $10m
- Shares
- 783,691
-19%
- Chegg
- Share
- 5.4%
- Value
- $8m
- Shares
- 8,126,000
+18%
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| Ategrity Specialty Insurance Co HoldingsASIC | 8.2% | $12m | 490,482 | Held |
| SndlSNDL | 8.1% | $12m | 8,639,381 | Held |
| North American Construction GroupNOA | 7.3% | $10m | 783,691 | -19% |
| Chegg | 5.4% | $8m | 8,126,000 | +18% |
| Ethos TechnologiesLIFE | 5.2% | $7m | 408,496 | -10% |
| Mimedx GroupMDXG | 5.0% | $7m | 1,870,436 | +25% |
| OwletOWLT | 4.9% | $7m | 1,234,053 | +24% |
| Global Indemnity GroupGBLI | 4.5% | $6m | 257,875 | Held |
| Orasure TechnologiesOSUR | 4.4% | $6m | 1,427,419 | -29% |
| Gold.comGOLD | 4.4% | $6m | 152,691 | Held |
| Eton PharmaceuticalsETON | 4.3% | $6m | 170,747 | -50% |
| NPK InternationalNPKI | 4.0% | $6m | 359,882 | -45% |
| Vitesse EnergyVTS | 4.0% | $6m | 361,693 | New |
| Natural Gas Services GroupNGS | 3.7% | $5m | 122,387 | -36% |
| Verrica PharmaceuticalsVRCA | 3.3% | $5m | 783,923 | +14% |
| ShimmickSHIM | 3.1% | $4m | 957,605 | New |
| SAN Juan Basin Royalty TrustSJT | 2.7% | $4m | 1,212,760 | +33% |
| Pure CyclePCYO | 2.4% | $3m | 314,640 | New |
| Build-A-Bear WorkshopBBW | 2.2% | $3m | 103,088 | -4% |
| LEE EnterprisesLEE | 2.2% | $3m | 344,349 | -21% |
| RootROOT | 2.0% | $3m | 52,331 | Held |
| Hippo HoldingsHIPO | 1.9% | $3m | 96,642 | Held |
| Accelerant HoldingsARX | 1.4% | $2m | 171,080 | +10% |
| Network-1 TechnologiesNTIP | 1.3% | $2m | 1,275,213 | +12% |
| Donegal GroupDGICA | 1.1% | $2m | 82,939 | Held |
| KVH IndustriesKVHI | 0.8% | $1m | 114,934 | New |
| CheggCHGG | 0.6% | $871,901 | 863,268 | +111% |
| Outdoor HoldingPOWW | 0.5% | $767,275 | 336,524 | +853% |
| American Public EducationAPEI | 0.3% | $381,646 | 7,107 | -90% |
| TheRealRealREAL | 0.2% | $271,630 | 23,039 | -16% |
| Stitch FixSFIX | 0.2% | $224,106 | 54,527 | +2% |
| Lincoln Educational ServicesLINC | 0.1% | $202,394 | 4,056 | New |
| CompassCOMP | 0.1% | $148,663 | 12,057 | New |
| Cronos GroupCRON | <0.1% | $121,558 | 43,726 | New |
Options (2)
- Rackspace TechnologyRXT
- Type
- Put
- Value
- $6m
- Contracts
- 869,700
- Ishares TRIWM
- Type
- Put
- Value
- $210,315
- Contracts
- 700
| Company | Type | Value | Contracts |
|---|---|---|---|
| Rackspace TechnologyRXT | Put | $6m | 869,700 |
| Ishares TRIWM | Put | $210,315 | 700 |
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is down 55.2% since 30 June 2025.
Where the money is
Financial services28.4%
Health care25.4%
Energy14.9%
Industrials12.4%
Technology4.5%
Retail & consumer3.6%
Media & telecom2.9%
Utilities2.4%
Real estate0.1%
Other5.4%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.