SEC 13F Intelligence

Managers / Q3 2019 · view latest →

Fondren Management LP

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

Reported Value
$120M
Q3 2019
Positions
77
Filings on Record
7
2019–present window
Filed
Nov 14, 2019
original filing

Summary

Fondren Management LP reported $120M in U.S.-listed holdings across 77 positions for Q3 2019.

Its largest position, BH, represents 12.6% of the portfolio.

Compared with Q2 2019, the fund opened 29 new positions and exited 24.

Portfolio Metrics

Turnover
+25.9%
vs prior filed quarter
Top-10 Concentration
+49.8%
share of reported value
Largest Position
+12.6%
Biglari
New / Exited
29 / 24
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: 88.9%Other: 9.0%Ltd Part: 1.3%ADR: 0.7%ETP: 0.1%
  • Common Stock · 88.9% · $107M
  • Other · 9.0% · $11M
  • Ltd Part · 1.3% · $2M
  • ADR · 0.7% · $871,000
  • ETP · 0.1% · $121,000

Quarter-over-Quarter Changes full breakdown →

vs Q2 2019 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
HWCCHOUSTON WIRE & CABLE CONEW+697.8K697.8K+$3M$3M
SYNCSYNACOR INCNEW+1.05M1.05M+$1M$1M
NXT ID INCNEW+2.06M2.06M+$1M$1M
MRMONTAGE RES CORPNEW+255.0K255.0K+$964,000$964,000
HQIHIREQUEST INCNEW+129.9K129.9K+$934,000$934,000
PS1COMPUTER PROGRAMS & SYS INCNEW+40.0K40.0K+$904,000$904,000
GPREGREEN PLAINS INCNEW+70.0K70.0K+$742,000$742,000
SYMANTEC CORPNEW+30.0K30.0K+$709,000$709,000

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

Holdings — Q3 2019

75 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1BHBIGLARI HLDGS INCCOM STK CL B · COM STK CL A12.57%$15M118.0K
2CAI INTERNATIONAL INCCOM9.96%$12M550.0K
3EGYVAALCO ENERGY INChistory →COM NEW4.17%$5M2.47M
4GLOBALSCAPE INCCOM3.63%$4M380.0K
5OPIANT PHARMACEUTICALS INCCOM3.57%$4M285.1K
6FLOTEK INDS INC DELCOM3.45%$4M1.88M
7MEDLEY CAP CORPCOM3.42%$4M1.59M
8STRSSTRATUS PPTYS INChistory →COM NEW3.16%$4M129.2K
9BBX CAP CORP NEWCL A3.12%$4M802.0K
10HWCCHOUSTON WIRE & CABLE COhistory →COM2.74%$3M697.8K
11IMMRIMMERSION CORPhistory →COM2.42%$3M380.0K
12HARVARD BIOSCIENCE INCCOM2.21%$3M865.0K
13RMCFROCKY MTN CHOCOLATE FACTORYhistory →COM2.18%$3M281.7K
14CIVEO CORP CDACOM2.12%$3M2.00M
15TRANSGLOBE ENERGY CORPCOM1.96%$2M1.77M
16LUBYS INCCOM1.69%$2M1.07M
17SUPPORT COM INCCOM NEW1.67%$2M1.30M
18HHSHARTE-HANKS INChistory →COM1.43%$2M562.2K
19PTBPOTBELLY CORPhistory →COM1.31%$2M360.0K
20RLHRED LION HOTELS CORPhistory →COM1.29%$2M240.0K
21STEEL PARTNERS HLDGS L PLTD PRTRSHIP U1.27%$2M119.0K
22SYNCSYNACOR INChistory →COM1.22%$1M1.05M
23ENZBENZO BIOCHEM INChistory →COM1.06%$1M355.0K
24ORNORION GROUP HOLDINGS INChistory →COM1.05%$1M280.0K
25TTITETRA TECHNOLOGIES INC DELhistory →COM1.05%$1M625.6K
26MPCMARATHON PETE CORPhistory →COM1.01%$1M20.0K
27NXT ID INCCOM NEW0.91%$1M2.06M
28LSAKNET 1 UEPS TECHNOLOGIES INCCOM NEW0.91%$1M305.0K
29CRD/ACRAWFORD & COCL A · CL B0.89%$1M99.5K
30WKCWORLD FUEL SVCS CORPCOM0.83%$999,00025.0K
31MRMONTAGE RES CORPCOM0.80%$964,000255.0K
32DINDINE BRANDS GLOBAL INCCOM0.79%$948,00012.5K
33UNIVERSAL STAINLESS & ALLOYCOM0.78%$936,00060.0K
34HQIHIREQUEST INCCOM0.78%$934,000129.9K
35CSS INDS INCCOM0.76%$913,000230.0K
36SICSELECT INTERIOR CONCEPTS INCCL A0.76%$908,00070.0K
37PS1COMPUTER PROGRAMS & SYS INCCOM0.75%$904,00040.0K
38VOXX INTL CORPCL A0.75%$900,000191.5K
39TRIBGBPTRINITY BIOTECH PLCSPON ADR NEW0.72%$871,000720.0K
40DFINDONNELLEY FINL SOLUTIONS INCCOM0.72%$862,00070.0K
41GSLGLOBAL SHIP LEASE INC NEWCOM CL A0.71%$853,000111.5K
42MDCAMDC PARTNERS INCCL A SUB VTG0.66%$790,000280.0K
43OHA INVT CORPCOM0.65%$780,000600.0K
44GCP APPLIED TECHNOLOGIES INCCOM0.64%$770,00040.0K
45GPREGREEN PLAINS INCCOM0.62%$742,00070.0K
46RAHRECRO PHARMA INCCOM0.60%$720,00065.0K
47SYMANTEC CORPCOM0.59%$709,00030.0K
48GULFPORT ENERGY CORPCOM NEW0.59%$705,000260.0K
49TPCOTRIBUNE PUBG CO NEWCOM0.57%$686,00080.0K
50PBIPITNEY BOWES INCCOM0.55%$663,000145.0K
51ATENA10 NETWORKS INCCOM0.52%$625,00090.0K
52VENATOR MATLS PLCSHS0.51%$610,000250.0K
53JEGBPJUST ENERGY GROUP INCCOM0.50%$604,000255.0K
54TIVITY HEALTH INCCOM0.48%$582,00035.0K
55RMRRMR GROUP INCCL A0.47%$569,00012.5K
56TACTTRANSACT TECHNOLOGIES INCCOM0.46%$557,00045.9K
57ROANROAN RES INCCL A COM0.44%$529,000430.0K
58VALHI INC NEWCOM0.44%$523,000275.0K
59STERICYCLE INCCOM0.42%$509,00010.0K
60STARS GROUP INCCOM0.37%$449,00030.0K
61HILL INTERNATIONAL INCCOM0.37%$449,000150.0K
62CATALYST BIOSCIENCES INCCOM NEW0.37%$439,00089.3K
63CALLON PETE CO DELCOM0.36%$434,000100.0K
64AMAGAMAG PHARMACEUTICALS INCCOM0.34%$404,00035.0K
65SXCSUNCOKE ENERGY INCCOM0.33%$395,00070.0K
66RRGBRED ROBIN GOURMET BURGERS INCOM0.28%$333,00010.0K
67INNOPHOS HOLDINGS INCCOM0.27%$325,00010.0K
68AVID TECHNOLOGY INCCOM0.23%$279,00045.0K
69FIESTA RESTAURANT GROUP INCCOM0.19%$233,00022.4K
70TEEKAY OFFSHORE PARTNERS L PPARTNERSHIP UN0.19%$232,000200.0K
71CUI GLOBAL INCCOM NEW0.12%$150,000177.4K
72CCOCLEAR CHANNEL OUTDOOR HLDGSCOM0.10%$126,00050.0K
73XLUSELECT SECTOR SPDR TRSBI INT-UTILS0.10%$121,000600
74CELHCELSIUS HOLDINGS INCCOM NEW0.06%$70,00020.0K
75HTG MOLECULAR DIAGNOSTICS INCOM0.02%$27,00040.4K

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 ↗

Other Included Managers

This filing reports holdings on behalf of 2 additional managers.

  • FMLP Inc.
  • Radoff Bradley Louis

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 ↗.