SEC 13F Intelligence

Managers / Q4 2019 · view latest →

Fondren Management LP

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

Reported Value
$98M
Q4 2019
Positions
84
Filings on Record
7
2019–present window
Filed
Feb 14, 2020
original filing

Summary

Fondren Management LP reported $98M in U.S.-listed holdings across 84 positions for Q4 2019.

Its largest position, BH, represents 10.6% of the portfolio.

Compared with Q3 2019, the fund opened 30 new positions and exited 23.

Portfolio Metrics

Turnover
+21.6%
vs prior filed quarter
Top-10 Concentration
+45.9%
share of reported value
Largest Position
+10.6%
Biglari
New / Exited
30 / 23
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: 83.7%Other: 11.4%ADR: 1.7%ETP: 1.5%MLP: 0.7%Other: 1.0%
  • Common Stock · 83.7% · $82M
  • Other · 11.4% · $11M
  • ADR · 1.7% · $2M
  • ETP · 1.5% · $1M
  • MLP · 0.7% · $642,000
  • Other · 1.0% · $959,000

Quarter-over-Quarter Changes full breakdown →

vs Q3 2019 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
CIM COML TR CORPNEW+100.0K100.0K+$1M$1M
SPDR SERIES TRUSTNEW+60.0K60.0K+$1M$1M
GIFIGULF ISLAND FABRICATION INCNEW+187.2K187.2K+$949,000$949,000
PDC ENERGY INCNEW+30.0K30.0K+$785,000$785,000
PORTMAN RIDGE FIN CORPNEW+356.3K356.3K+$755,000$755,000
EXTERRAN CORPNEW+95.0K95.0K+$744,000$744,000
PDL BIOPHARMA INCNEW+225.0K225.0K+$730,000$730,000
ETENERGY TRANSFER LPNEW+50.0K50.0K+$642,000$642,000

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

Holdings — Q4 2019

81 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1BHBIGLARI HLDGS INCCOM STK CL B · COM STK CL A10.62%$10M84.5K
2CAI INTERNATIONAL INCCOM6.82%$7M230.0K
3EGYVAALCO ENERGY INChistory →COM NEW5.62%$5M2.47M
4TRANSGLOBE ENERGY CORPCOM4.94%$5M3.48M
5OPIANT PHARMACEUTICALS INCCOM3.91%$4M264.9K
6HWCCHOUSTON WIRE & CABLE COhistory →COM3.64%$4M805.0K
7SYNCSYNACOR INChistory →COM2.93%$3M1.88M
8RMCFROCKY MTN CHOCOLATE FACTORYhistory →COM2.73%$3M288.9K
9MEDLEY CAP CORPCOM2.44%$2M1.09M
10GLOBALSCAPE INCCOM2.21%$2M220.0K
11HHSHARTE-HANKS INChistory →COM2.06%$2M562.2K
12STRSSTRATUS PPTYS INChistory →COM NEW2.04%$2M64.4K
13LUBYS INCCOM1.98%$2M880.2K
14ENZBENZO BIOCHEM INChistory →COM1.96%$2M727.0K
15IMMRIMMERSION CORPhistory →COM1.90%$2M250.0K
16TTITETRA TECHNOLOGIES INC DELhistory →COM1.87%$2M930.0K
17FLOTEK INDS INC DELCOM1.75%$2M855.0K
18CSS INDS INCCOM1.67%$2M370.0K
19CIVEO CORP CDACOM1.55%$2M1.18M
20CIM COML TR CORPCOM NEW1.48%$1M100.0K
21BBX CAP CORP NEWCL A1.47%$1M300.0K
22SPDR SERIES TRUSTS&P OILGAS EXP1.46%$1M60.0K
23SUPPORT COM INCCOM NEW1.45%$1M1.30M
24SICSELECT INTERIOR CONCEPTS INChistory →CL A1.39%$1M151.0K
25HARVARD BIOSCIENCE INCCOM1.23%$1M393.0K
26NXT ID INCCOM NEW1.03%$1M2.24M
27TRIBGBPTRINITY BIOTECH PLCSPON ADR NEW0.99%$970,000938.6K
28GIFIGULF ISLAND FABRICATION INCCOM0.97%$949,000187.2K
29CRD/ACRAWFORD & COCL A0.85%$832,00072.5K
30PDC ENERGY INCCOM0.80%$785,00030.0K
31UNIVERSAL STAINLESS & ALLOYCOM0.78%$764,00051.2K
32PORTMAN RIDGE FIN CORPCOM0.77%$755,000356.3K
33EXTERRAN CORPCOM0.76%$744,00095.0K
34RRGBRED ROBIN GOURMET BURGERS INCOM0.76%$743,00022.5K
35RAHRECRO PHARMA INCCOM0.75%$733,00040.0K
36PDL BIOPHARMA INCCOM0.75%$730,000225.0K
37MPCMARATHON PETE CORPCOM0.74%$723,00012.0K
38MRMONTAGE RES CORPCOM0.73%$715,00090.0K
39HQIHIREQUEST INCCOM0.73%$709,000100.0K
40DINDINE BRANDS GLOBAL INCCOM0.68%$668,0008.0K
41ETENERGY TRANSFER LPCOM UT LTD PTN0.66%$642,00050.0K
42HILL INTERNATIONAL INCCOM0.65%$632,000200.0K
43VENATOR MATLS PLCSHS0.65%$632,000165.0K
44FIESTA RESTAURANT GROUP INCCOM0.61%$593,00060.0K
45THIRD PT REINS LTDCOM0.59%$579,00055.0K
46LEAFLEAF GROUP LTDCOM0.59%$573,000143.2K
47CRNCCERENCE INCCOM0.58%$566,00025.0K
48PS1COMPUTER PROGRAMS & SYS INCCOM0.57%$554,00021.0K
49GSLGLOBAL SHIP LEASE INC NEWCOM CL A0.56%$551,00062.4K
50ATENA10 NETWORKS INCCOM0.56%$550,00080.0K
51RMRRMR GROUP INCCL A0.54%$525,00011.5K
52ZAGG INCCOM0.50%$487,00060.0K
53STEEL PARTNERS HLDGS L PLTD PRTRSHIP U0.50%$484,00040.0K
54HEALTH INS INNOVATIONS INCCOM CL A0.49%$482,00025.0K
55COLONY CAPITAL INCCL A COM0.49%$475,000100.0K
56DFINDONNELLEY FINL SOLUTIONS INCCOM0.48%$471,00045.0K
57GRAN TIERRA ENERGY INCCOM0.46%$452,000350.0K
58ORNORION GROUP HOLDINGS INCCOM0.44%$428,00082.5K
59SPARK NETWORKS SESPONSORED ADR0.42%$408,00090.0K
60GVAGRANITE CONSTR INCCOM0.41%$401,00014.5K
61GPXGP STRATEGIES CORPCOM0.41%$397,00030.0K
62DVNDEVON ENERGY CORP NEWCOM0.40%$390,00015.0K
63ANDEANDERSONS INCCOM0.39%$379,00015.0K
64INGRINGREDION INCCOM0.38%$372,0004.0K
65LSAKNET 1 UEPS TECHNOLOGIES INCCOM NEW0.38%$372,000100.0K
66VOXX INTL CORPCL A0.37%$366,00083.5K
67AVID TECHNOLOGY INCCOM0.35%$343,00040.0K
68GCP APPLIED TECHNOLOGIES INCCOM0.35%$341,00015.0K
69MIX TELEMATICS LTDSPONSORED ADR0.33%$324,00025.0K
70AXTAAXALTA COATING SYSTEMS LTDCOM0.31%$304,00010.0K
71REZIRESIDEO TECHNOLOGIES INCCOM0.31%$298,00025.0K
72PTBPOTBELLY CORPCOM0.30%$295,00070.0K
73MDCAMDC PARTNERS INCCL A SUB VTG0.28%$278,000100.0K
74CATALYST BIOSCIENCES INCCOM NEW0.28%$272,00040.0K
75GROUPON INCCOM0.24%$239,000100.0K
76CUI GLOBAL INCCOM NEW0.23%$220,000200.0K
77RDIREADING INTERNATIONAL INCCL A0.17%$168,00015.0K
78TPCOTRIBUNE PUBG CO NEWCOM0.17%$163,00012.4K
79RLHRED LION HOTELS CORPCOM0.17%$163,00043.6K
80APTEVO THERAPEUTICS INCCOM0.08%$79,000120.2K
81PLX PHARMA INCCOM0.05%$44,00010.0K

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.028-19628
  • Radoff Bradley Louis028-19629

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 ↗.