SEC 13F Intelligence

Managers / Q2 2019 · view latest →

Fondren Management LP

CIK 0001328331 · 1177 WEST LOOP SOUTH, SUITE 1625, HOUSTON, TX, 77027 · 713.877.0089

Reported Value
$105M
Q2 2019
Positions
72
Filings on Record
7
2019–present window
Filed
Aug 14, 2019
original filing

Summary

Fondren Management LP reported $105M in U.S.-listed holdings across 72 positions for Q2 2019.

Its largest position, BH, represents 11.4% of the portfolio.

Compared with Q1 2019, the fund opened 29 new positions and exited 39.

Portfolio Metrics

Turnover
+24.4%
vs prior filed quarter
Top-10 Concentration
+49.9%
share of reported value
Largest Position
+11.4%
Biglari
New / Exited
29 / 39
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q1 ’19: $126MQ1 ’19Q2 ’19: $105MQ2 ’19Q3 ’19: $120MQ3 ’19Q4 ’19: $98MQ4 ’19Q1 ’20: $39MQ1 ’20Q2 ’20: $26MQ2 ’20Q3 ’20: $17MQ3 ’20filingsflow.com

Portfolio Composition

By security type
Common Stock: 86.3%Other: 11.2%Ltd Part: 1.9%ADR: 0.6%
  • Common Stock · 86.3% · $91M
  • Other · 11.2% · $12M
  • Ltd Part · 1.9% · $2M
  • ADR · 0.6% · $627,000

Quarter-over-Quarter Changes full breakdown →

vs Q1 2019 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
B RILEY PRINCIPAL MERGER CORNEW+250.0K250.0K+$2M$2M
MPCMARATHON PETE CORPNEW+30.0K30.0K+$2M$2M
DFINDONNELLEY FINL SOLUTIONS INCNEW+95.0K95.0K+$1M$1M
RLHRED LION HOTELS CORPNEW+170.0K170.0K+$1M$1M
ORNORION GROUP HOLDINGS INCNEW+435.0K435.0K+$1M$1M
UNIVERSAL STAINLESS & ALLOYNEW+65.0K65.0K+$1M$1M
AMBER RD INCNEW+72.1K72.1K+$942,000$942,000
COMMAND CENTER INCNEW+156.9K156.9K+$882,000$882,000

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q2 2019

71 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1BHBIGLARI HLDGS INCCOM STK CL B · COM STK CL A11.37%$12M98.1K
2GLOBALSCAPE INCCOM6.61%$7M680.0K
3CAI INTERNATIONAL INCCOM5.79%$6M245.0K
4BBX CAP CORP NEWCL A5.35%$6M1.14M
5EGYVAALCO ENERGY INChistory →COM NEW3.93%$4M2.47M
6FLOTEK INDS INC DELCOM3.89%$4M1.24M
7MEDLEY CAP CORPCOM3.46%$4M1.55M
8CRD/ACRAWFORD & COhistory →CL A3.32%$3M331.5K
9MONOTYPE IMAGING HOLDINGS INCOM3.12%$3M195.0K
10STRSSTRATUS PPTYS INChistory →COM NEW3.07%$3M99.6K
11OPIANT PHARMACEUTICALS INCCOM2.74%$3M217.3K
12IMMRIMMERSION CORPhistory →COM2.46%$3M340.0K
13WKCWORLD FUEL SVCS CORPhistory →COM2.39%$3M70.0K
14B RILEY PRINCIPAL MERGER CORUNIT 99/99/99992.37%$2M250.0K
15RMCFROCKY MTN CHOCOLATE FACTORYhistory →COM2.15%$2M268.5K
16SUPPORT COM INCCOM NEW2.01%$2M1.30M
17TACTTRANSACT TECHNOLOGIES INChistory →COM1.92%$2M179.0K
18STEEL PARTNERS HLDGS L PLTD PRTRSHIP U1.85%$2M139.1K
19MPCMARATHON PETE CORPhistory →COM1.59%$2M30.0K
20ROANROAN RES INChistory →CL A COM1.46%$2M880.0K
21DFINDONNELLEY FINL SOLUTIONS INChistory →COM1.21%$1M95.0K
22DINDINE BRANDS GLOBAL INChistory →COM1.18%$1M13.0K
23LSAKNET 1 UEPS TECHNOLOGIES INChistory →COM NEW1.16%$1M305.0K
24RLHRED LION HOTELS CORPhistory →COM1.15%$1M170.0K
25ORNORION GROUP HOLDINGS INChistory →COM1.11%$1M435.0K
26HHSHARTE-HANKS INChistory →COM1.10%$1M526.4K
27UNIVERSAL STAINLESS & ALLOYCOM0.99%$1M65.0K
28TPCOTRIBUNE PUBG CO NEWCOM0.99%$1M130.0K
29VALHI INC NEWCOM0.96%$1M340.0K
30TRANSGLOBE ENERGY CORPCOM0.95%$995,000716.1K
31RAHRECRO PHARMA INCCOM0.92%$966,00095.0K
32AMBER RD INCCOM0.90%$942,00072.1K
33HARVARD BIOSCIENCE INCCOM0.87%$918,000458.9K
34GUESS INCCOM0.84%$888,00055.0K
35COMMAND CENTER INCCOM NEW0.84%$882,000156.9K
36TTITETRA TECHNOLOGIES INC DELCOM0.82%$860,000527.4K
37MDCAMDC PARTNERS INCCL A SUB VTG0.67%$706,000280.0K
38VOXX INTL CORPCL A0.67%$705,000169.5K
39VENATOR MATLS PLCSHS0.65%$688,000130.0K
40NUVECTRA CORPCOM0.65%$687,000205.0K
41NIELSEN HLDGS PLCSHS EUR0.65%$678,00030.0K
42OHA INVT CORPCOM0.63%$658,000600.0K
43TRIBGBPTRINITY BIOTECH PLCSPON ADR NEW0.60%$627,000380.0K
44ENZBENZO BIOCHEM INCCOM0.56%$593,000175.9K
45PTBPOTBELLY CORPCOM0.56%$585,000115.0K
46SPIRIT MTA REITCOM SHS BEN IN0.56%$584,00070.0K
47INNOPHOS HOLDINGS INCCOM0.55%$582,00020.0K
48GCP APPLIED TECHNOLOGIES INCCOM0.54%$566,00025.0K
49SSUPSUPERIOR INDS INTL INCCOM0.49%$519,000150.0K
50DFRGDEL FRISCOS RESTAURANT GROUPCOM0.49%$517,00065.0K
51MEDICINES COCOM0.43%$456,00012.5K
52IRWDIRONWOOD PHARMACEUTICALS INCCOM CL A0.42%$438,00040.0K
53CIVEO CORP CDACOM0.33%$349,000203.1K
54GSLGLOBAL SHIP LEASE INC NEWCOM CL A0.33%$347,00047.0K
55CSS INDS INCCOM0.33%$342,00070.0K
56HILL INTERNATIONAL INCCOM0.32%$338,000125.0K
57TILE SHOP HLDGS INCCOM0.30%$320,00080.0K
58VOLT INFORMATION SCIENCES INCOM0.30%$314,00070.0K
59ARLOARLO TECHNOLOGIES INCCOM0.29%$301,00075.0K
60ANDEANDERSONS INCCOM0.26%$272,00010.0K
61TIVITY HEALTH INCCOM0.23%$247,00015.0K
62ORION ENERGY SYSTEMS INCCOM0.21%$221,00074.4K
63GIFIGULF ISLAND FABRICATION INCCOM0.20%$206,00029.0K
64LFCRLANDEC CORPCOM0.18%$187,00020.0K
65SUNWORKS INCCOM0.16%$172,000315.0K
66GFNGENERAL FIN CORP DELCOM0.16%$167,00020.0K
67CAPITAL SR LIVING CORPCOM0.12%$126,00025.0K
68SICSELECT INTERIOR CONCEPTS INCCL A0.11%$117,00010.0K
69AUTOWEB INCCOM0.10%$107,00030.0K
70CASTLE BRANDS INCCOM0.09%$93,000200.0K
71LUBYS INCCOM0.02%$22,00020.4K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q3 2020$17M16Nov 13, 202013F-HRchanges · EDGAR ↗
Q2 2020$26M25Aug 14, 202013F-HRchanges · EDGAR ↗
Q1 2020$39M69May 15, 202013F-HRchanges · EDGAR ↗
Q4 2019$98M84Feb 14, 202013F-HRchanges · EDGAR ↗
Q3 2019$120M77Nov 14, 201913F-HRchanges · EDGAR ↗
Q2 2019$105M72Aug 14, 201913F-HRchanges · EDGAR ↗
Q1 2019$126M82May 15, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.