SEC 13F Intelligence

Managers / Q2 2023 · view latest →

Bandera Partners LLC

CIK 0001399386 · 138 ATLANTIC AVENUE, BROOKLYN, NY, 11201 · 2122324582

Reported Value
$236M
Q2 2023
Positions
18
Filings on Record
31
2019–present window
Filed
Aug 10, 2023
original filing

Summary

Bandera Partners LLC reported $236M in U.S.-listed holdings across 18 positions for Q2 2023.

Its largest position, SGU, represents 20.0% of the portfolio.

Compared with Q1 2023, the fund opened 3 new positions and exited 1.

Portfolio Metrics

Turnover
+14.8%
vs prior filed quarter
Top-10 Concentration
+88.6%
share of reported value
Largest Position
+20.0%
Star Group L P
New / Exited
3 / 1
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. 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
Q4 ’18: $137MQ4 ’18Q1 ’19: $161MQ2 ’19: $168MQ3 ’19: $159MQ4 ’19: $168MQ4 ’19Q1 ’20: $119MQ2 ’20: $144MQ3 ’20: $153MQ4 ’20: $192MQ4 ’20Q1 ’21: $254MQ2 ’21: $255MQ3 ’21: $248MQ4 ’21: $280MQ4 ’21Q1 ’22: $336MQ2 ’22: $254MQ3 ’22: $239MQ4 ’22: $211MQ4 ’22Q1 ’23: $243MQ2 ’23: $236MQ3 ’23: $277MQ4 ’23: $302MQ4 ’23Q1 ’24: $257MQ2 ’24: $276MQ3 ’24: $265MQ4 ’24: $263MQ4 ’24Q1 ’25: $278MQ2 ’25: $222MQ3 ’25: $228MQ4 ’25: $222MQ4 ’25Q1 ’26: $221Mfilingsflow.com

Portfolio Composition

By security type
Common Stock: 88.4%Other: 9.2%ADR: 1.6%PUBLIC: 0.8%
  • Common Stock · 88.4% · $208M
  • Other · 9.2% · $22M
  • ADR · 1.6% · $4M
  • PUBLIC · 0.8% · $2M

Quarter-over-Quarter Changes full breakdown →

vs Q1 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
BTMDBIOTE CORPNEW+1.67M1.67M+$11M$11M
SPHRSPHERE ENTERTAINMENT CONEW+141.7K141.7K+$4M$4M
NIJNELNET INCNEW+23.8K23.8K+$2M$2M
AMZNAMAZON COM INCSOLD OUT−30.0K0−$3M$0
AMKRAMKOR TECHNOLOGY INCTRIMMED−1.22M604.9K−$30M$18M
BURFORD CAP LTDADDED+250.0K1.77M+$5M$22M
AIRSAIRSCULPT TECHNOLOGIES INCADDED+69.1K623.0K+$3M$5M
JYNTJOINT CORPHELD+50.0K2.65M−$8M$36M

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

Holdings — Q2 2023

17 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1SGUSTAR GROUP L Phistory →UNIT LTD PARTNR19.98%$47M3.45M
2GOOGALPHABET INCCAP STK CL C · CAP STK CL A19.73%$46M385.9K
3JYNTJOINT CORPhistory →COM15.19%$36M2.65M
4BURFORD CAP LTDORD SHS9.14%$22M1.77M
5AMKRAMKOR TECHNOLOGY INChistory →COM7.64%$18M604.9K
6TLFTANDY LEATHER FACTORY INChistory →COM5.12%$12M2.86M
7BTMDBIOTE CORPhistory →CLASS A COM4.80%$11M1.67M
8AMRCAMERESCO INChistory →CL A3.60%$8M174.2K
9EXECHESAPEAKE ENERGY CORPhistory →COM3.38%$8M95.0K
10HQIHIREQUEST INChistory →COM2.78%$7M251.8K
11AIRSAIRSCULPT TECHNOLOGIES INChistory →COM2.28%$5M623.0K
12SPHRSPHERE ENTERTAINMENT COhistory →CL A1.65%$4M141.7K
13MIX TELEMATICS LTDSPONSORED ADR1.57%$4M584.3K
14DYAIDYADIC INTL INC DELhistory →COM1.28%$3M1.57M
15NIJNELNET INCCL A0.98%$2M23.8K
16WHEELER REAL ESTATE INVT TRPFD CNV SER D0.81%$2M153.0K
17RUBICON TECHNOLOGIES INCCL A COM0.08%$184,400128.3K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$221M17May 13, 202613F-HRchanges · EDGAR ↗
Q4 2025$222M13Feb 13, 202613F-HRchanges · EDGAR ↗
Q3 2025$228M13Nov 12, 202513F-HRchanges · EDGAR ↗
Q2 2025$222M14Aug 12, 202513F-HRchanges · EDGAR ↗
Q1 2025$278M18May 13, 202513F-HRchanges · EDGAR ↗
Q4 2024$263M18Feb 12, 202513F-HRchanges · EDGAR ↗
Q3 2024$265M18Nov 12, 202413F-HRchanges · EDGAR ↗
Q2 2024$276M19Aug 12, 202413F-HRchanges · EDGAR ↗
Q1 2024$257M19May 14, 202413F-HRchanges · EDGAR ↗
Q4 2023$302M19Feb 13, 202413F-HRchanges · EDGAR ↗
Q3 2023$277M18Nov 13, 202313F-HRchanges · EDGAR ↗
Q2 2023$236M18Aug 10, 202313F-HRchanges · EDGAR ↗
Q1 2023$243M16May 12, 202313F-HRchanges · EDGAR ↗
Q4 2022$211M15Feb 13, 202313F-HRchanges · EDGAR ↗
Q3 2022$239M16Nov 10, 202213F-HRchanges · EDGAR ↗
Q2 2022$254M17Aug 12, 202213F-HRchanges · EDGAR ↗
Q1 2022$336M22May 13, 202213F-HRchanges · EDGAR ↗
Q4 2021$280M20Feb 14, 202213F-HRchanges · EDGAR ↗
Q3 2021$248M20Nov 12, 202113F-HRchanges · EDGAR ↗
Q2 2021$255M18Aug 13, 202113F-HRchanges · EDGAR ↗
Q1 2021$254M18May 27, 2021RESTATEMENTchanges · EDGAR ↗
Q4 2020$192M16Feb 12, 202113F-HRchanges · EDGAR ↗
Q3 2020$153M16Nov 12, 202013F-HRchanges · EDGAR ↗
Q2 2020$144M16Aug 12, 202013F-HRchanges · EDGAR ↗
Q1 2020$119M16May 14, 202013F-HRchanges · EDGAR ↗
Q4 2019$168M15Feb 13, 202013F-HRchanges · EDGAR ↗
Q3 2019$159M15Nov 13, 201913F-HRchanges · EDGAR ↗
Q2 2019$168M15Aug 13, 201913F-HRchanges · EDGAR ↗
Q1 2019$161M14May 13, 201913F-HRchanges · EDGAR ↗
Q4 2018$137M15Feb 12, 201913F-HRchanges · EDGAR ↗

Other Included Managers

This filing reports holdings on behalf of 2 additional managers.

  • Bylinsky Gregory028-15517
  • Gramm Jefferson028-15518

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 ↗.