Managers / Q2 2020 · view latest →
Fondren Management LP
CIK 0001328331 · 1177 WEST LOOP SOUTH, SUITE 1625, HOUSTON, TX, 77027 · 713.877.0089
Summary
Fondren Management LP reported $26M in U.S.-listed holdings across 25 positions for Q2 2020.
Its largest position, BH, represents 19.9% of the portfolio.
Compared with Q1 2020, the fund opened 6 new positions and exited 50.
Portfolio Metrics
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
Portfolio Composition
- Common Stock · 96.7% · $25M
- Other · 3.3% · $857,000
Quarter-over-Quarter Changes full breakdown →
vs Q1 2020 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| TTITETRA TECHNOLOGIES INC DEL | NEW | +1.15M | 1.15M | +$612,000 | $612,000 |
| BBX CAP CORP NEW | NEW | +170.0K | 170.0K | +$432,000 | $432,000 |
| HC2 HLDGS INC | NEW | +125.0K | 125.0K | +$418,000 | $418,000 |
| ACNTSYNALLOY CP DEL | NEW | +45.0K | 45.0K | +$337,000 | $337,000 |
| CASTLIGHT HEALTH INC | NEW | +300.0K | 300.0K | +$249,000 | $249,000 |
| ALOTASTRONOVA INC | NEW | +30.0K | 30.0K | +$239,000 | $239,000 |
| LSAKNET 1 UEPS TECHNOLOGIES INC | ADDED | +275.0K | 315.0K | +$842,000 | $958,000 |
| CRD/BCRAWFORD & CO | ADDED | +31.7K | 59.5K | +$240,000 | $418,000 |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q2 2020
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | BHBIGLARI HLDGS INC | COM STK CL B · COM STK CL A | 19.94% | $5M | 68.9K |
| 2 | IMMRIMMERSION CORPhistory → | COM | 13.12% | $3M | 545.0K |
| 3 | EGYVAALCO ENERGY INChistory → | COM NEW | 11.84% | $3M | 2.47M |
| 4 | SYNCSYNACOR INChistory → | COM | 7.73% | $2M | 1.77M |
| 5 | SUPPORT COM INC | COM NEW | 7.10% | $2M | 1.30M |
| 6 | OPIANT PHARMACEUTICALS INC | COM | 6.53% | $2M | 186.9K |
| 7 | HHSHARTE-HANKS INChistory → | COM | 6.41% | $2M | 545.5K |
| 8 | LSAKNET 1 UEPS TECHNOLOGIES INChistory → | COM NEW | 3.70% | $958,000 | 315.0K |
| 9 | TRANSGLOBE ENERGY CORP | COM | 3.37% | $871,000 | 1.57M |
| 10 | MEDLEY CAP CORP | COM | 2.95% | $762,000 | 996.2K |
| 11 | CRD/BCRAWFORD & CO | CL B · CL A | 2.92% | $755,000 | 102.1K |
| 12 | TTITETRA TECHNOLOGIES INC DELhistory → | COM | 2.37% | $612,000 | 1.15M |
| 13 | BBX CAP CORP NEW | CL A | 1.67% | $432,000 | 170.0K |
| 14 | HC2 HLDGS INC | COM | 1.62% | $418,000 | 125.0K |
| 15 | UNIVERSAL STAINLESS & ALLOY | COM | 1.34% | $347,000 | 40.4K |
| 16 | ACNTSYNALLOY CP DELhistory → | COM | 1.30% | $337,000 | 45.0K |
| 17 | RMCFROCKY MTN CHOCOLATE FACTORYhistory → | COM | 1.19% | $309,000 | 72.6K |
| 18 | HQIHIREQUEST INChistory → | COM | 1.09% | $281,000 | 45.4K |
| 19 | CASTLIGHT HEALTH INC | CL B | 0.96% | $249,000 | 300.0K |
| 20 | ALOTASTRONOVA INC | COM | 0.92% | $239,000 | 30.0K |
| 21 | HWCCHOUSTON WIRE & CABLE CO | COM | 0.82% | $212,000 | 90.0K |
| 22 | PORTMAN RIDGE FIN CORP | COM | 0.76% | $197,000 | 179.1K |
| 23 | LUBYS INC | COM | 0.36% | $92,000 | 63.4K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q3 2020 | $17M | 16 | Nov 13, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q2 2020 | $26M | 25 | Aug 14, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q1 2020 | $39M | 69 | May 15, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q4 2019 | $98M | 84 | Feb 14, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q3 2019 | $120M | 77 | Nov 14, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q2 2019 | $105M | 72 | Aug 14, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q1 2019 | $126M | 82 | May 15, 2019 | 13F-HR | changes · 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 ↗.