The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F COVER PAGE

OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8

Report for the Calendar Year or Quarter Ended: 06-30-2023
Check here if Amendment    Amendment Number:
This Amendment (Check only one.):    is a restatement.
   adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: Acuitas Investments, LLC
Address: 520 Pike Street
Suite 1221
Seattle, WA  98101
Form 13F File Number: 028-16461
CRD Number (if applicable): 000155782
SEC File Number (if applicable): 801-79447

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

Person Signing this Report on Behalf of Reporting Manager:
Name: Lisa Thenell
Title: Chief Compliance Officer/Chief Operating Officer
Phone: 206-299-2073
Signature, Place, and Date of Signing:
Lisa Thenell SeattleWA 08-07-2023
[Signature] [City, State] [Date]
Report Type (Check only one.):
   13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.)
   13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).)
X 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)
List of Other Managers Reporting for this Manager:
[If there are no entries in this list, omit this section.]
Name Form 13F File No. CRD No. (if applicable) SEC File No. (if applicable) CIK
ClariVest Asset Management LLC 028-12126 000139785 801-66386 0001388167
Monarch Partners Asset Management LLC 028-15158 000152727 801-71007 0001568555
Pacific Ridge Capital Partners, LLC 028-15835 000152154 801-78126 0001591546
Ranger Investment Management, L.P. 028-11311 000124414 801-62397 0001319691
JCSD Capital, LLC 028-16516 000163084 801-107372 0001444055
AltraVue Capital, LLC 028-19044 000283260 801-113312 0001740837
GLOBEFLEX CAPITAL L P 028-04886 000106417 801-45959 0000921531
PZENA INVESTMENT MANAGEMENT LLC 028-03791 000106847 801-50838 0001027796
Granahan Investment Management, LLC 028-05876 000107745 801-23705 0001026710
Tieton Capital Management, LLC 028-14613 000135769 801-66657 0001381954
MACKENZIE FINANCIAL CORP 028-05178 000110338 801-25226 0000919859
Meros Investment Management, LP 028-22239 000305152 801-117225 0001911372
TimesSquare Capital Management, LLC 028-11092 000132694 801-63492 0001313816
ADVISORY RESEARCH INC 028-05637 000108254 801-14172 0000902584
EAM Investors, LLC 028-14070 000144908 801-70305 0001510989
Form 13F Summary Page
Report Summary:
Number of Other Included Managers: 5
Form 13F Information Table Entry Total: 107
Form 13F Information Table Value Total: 171,693,211
(round to nearest dollar)
List of Other Included Managers:
Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.
[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]
No. Name Form 13F File No. CRD No. (if applicable) SEC File No. (if applicable) CIK
1 SIGNIA CAPITAL MANAGEMENT LLC 028-12115 000121505 801-108871 0001131908
3 Cobia Capital Management LP   000163103 802-76633 0001813429
4 MAC Alpha Capital Management LP   000311412 802-119935  
5 Peapod Lane Capital LLC   000159963    
6 Weber Capital Management LLC   000109624