Acuitas Investments Discloses $155.8M in Holdings

The asset manager’s latest quarterly report reflects collaboration with 18 external firms and expanding partnerships.

November 04, 2025

Q3 Holdings Reflect a Broader Network

Acuitas Investments has released its latest snapshot of Q3 activity, reporting $155.8 million in managed assets as of September 30, 2025. The Seattle-based firm submitted a Form 13F Combination Report, reflecting a portion of its holdings—while the remainder are filed separately by its investment partners.

The numbers tell a story of coordinated execution. Acuitas disclosed 52 positions across its portfolio, drawing on a broad group of external managers to help deliver performance. The firm works with 18 institutional partners, including Kennedy Capital, Granahan Investment Management, and Polen Capital, each offering their own focused approach. These relationships allow Acuitas to access specialized strategies without losing oversight.

Sub-Advisors Embedded in the Process

Four of those firms—Signia Capital, Seven Canyons Advisors, Cobia Capital Management, and Weber Capital Management—are listed as directly included in the report. That signals a deeper reporting structure, where Acuitas assumes shared responsibility for those positions.

This filing format—a combination report—lets Acuitas disclose only its portion of the data while coordinating with partner managers on the rest. It’s a structure that supports flexibility and scale, and reflects the way Acuitas builds its investment platform: by integrating external insights with internal accountability.

Compliance and Coordination

The report was signed by Lisa Thenell, who serves as both Chief Compliance Officer and Chief Operating Officer. Her sign-off on November 3 confirms that the data meets SEC reporting standards and that the firm continues to operate within regulatory guardrails.

Acuitas’s approach is grounded in delegation without detachment. The filing underscores how the firm uses partnerships to extend reach, manage risk, and maintain transparency—all while staying connected to the detail behind the data.