Managers / Q3 2023 · view latest →
Bandera Partners LLC
CIK 0001399386 · 138 ATLANTIC AVENUE, BROOKLYN, NY, 11201 · 2122324582
Summary
Bandera Partners LLC reported $277M in U.S.-listed holdings across 18 positions for Q3 2023.
Its largest position, ATVIEUR, represents 17.7% of the portfolio.
Compared with Q2 2023, the fund opened 1 new position and exited 1.
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. 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 · 89.3% · $247M
- Other · 9.0% · $25M
- ADR · 1.2% · $3M
- PUBLIC · 0.6% · $2M
Quarter-over-Quarter Changes full breakdown →
vs Q2 2023 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| ATVIEURACTIVISION BLIZZARD INC | NEW | +525.0K | 525.0K | +$49M | $49M |
| NIJNELNET INC | ADDED | +88.2K | 112.0K | +$8M | $10M |
| SPHRSPHERE ENTERTAINMENT CO | SOLD OUT | −141.7K | 0 | −$4M | $0 |
| JYNTJOINT CORP | ADDED | +1.29M | 3.94M | −$367,842 | $35M |
| BTMDBIOTE CORP | HELD | +32.2K | 1.71M | −$3M | $9M |
| SGUSTAR GROUP L P | HELD | +0 | 3.45M | −$6M | $41M |
| AMKRAMKOR TECHNOLOGY INC | HELD | −10 | 604.9K | −$4M | $14M |
| BURFORD CAP LTD | HELD | +0 | 1.77M | +$3M | $25M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q3 2023
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | GOOGALPHABET INC | CAP STK CL C · CAP STK CL A | 18.31% | $51M | 385.9K |
| 2 | ATVIEURACTIVISION BLIZZARD INChistory → | COM | 17.75% | $49M | 525.0K |
| 3 | SGUSTAR GROUP L Phistory → | UNIT LTD PARTNR | 14.97% | $41M | 3.45M |
| 4 | JYNTJOINT CORPhistory → | COM | 12.78% | $35M | 3.94M |
| 5 | BURFORD CAP LTD | ORD SHS | 8.93% | $25M | 1.77M |
| 6 | AMKRAMKOR TECHNOLOGY INChistory → | COM | 4.94% | $14M | 604.9K |
| 7 | TLFTANDY LEATHER FACTORY INChistory → | COM | 4.34% | $12M | 2.86M |
| 8 | NIJNELNET INChistory → | CL A | 3.61% | $10M | 112.0K |
| 9 | BTMDBIOTE CORPhistory → | CLASS A COM | 3.15% | $9M | 1.71M |
| 10 | EXECHESAPEAKE ENERGY CORPhistory → | COM | 2.96% | $8M | 95.0K |
| 11 | AMRCAMERESCO INChistory → | CL A | 2.43% | $7M | 174.2K |
| 12 | AIRSAIRSCULPT TECHNOLOGIES INChistory → | COM | 1.54% | $4M | 623.0K |
| 13 | HQIHIREQUEST INChistory → | COM | 1.40% | $4M | 251.8K |
| 14 | MIX TELEMATICS LTD | SPONSORED ADR | 1.16% | $3M | 584.3K |
| 15 | DYAIDYADIC INTL INC DELhistory → | COM | 1.09% | $3M | 1.57M |
| 16 | WHEELER REAL ESTATE INVT TR | PFD CNV SER D | 0.58% | $2M | 153.0K |
| 17 | RUBICON TECHNOLOGIES INC | CL A COM | 0.07% | $182,219 | 128.3K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $221M | 17 | May 13, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $222M | 13 | Feb 13, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $228M | 13 | Nov 12, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $222M | 14 | Aug 12, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $278M | 18 | May 13, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $263M | 18 | Feb 12, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $265M | 18 | Nov 12, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $276M | 19 | Aug 12, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $257M | 19 | May 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $302M | 19 | Feb 13, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $277M | 18 | Nov 13, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $236M | 18 | Aug 10, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $243M | 16 | May 12, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $211M | 15 | Feb 13, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $239M | 16 | Nov 10, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $254M | 17 | Aug 12, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $336M | 22 | May 13, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $280M | 20 | Feb 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q3 2021 | $248M | 20 | Nov 12, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q2 2021 | $255M | 18 | Aug 13, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q1 2021 | $254M | 18 | May 27, 2021 | RESTATEMENT | changes · EDGAR ↗ |
| Q4 2020 | $192M | 16 | Feb 12, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q3 2020 | $153M | 16 | Nov 12, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q2 2020 | $144M | 16 | Aug 12, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q1 2020 | $119M | 16 | May 14, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q4 2019 | $168M | 15 | Feb 13, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q3 2019 | $159M | 15 | Nov 13, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q2 2019 | $168M | 15 | Aug 13, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q1 2019 | $161M | 14 | May 13, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q4 2018 | $137M | 15 | Feb 12, 2019 | 13F-HR | changes · 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 ↗.