SEC 13F Intelligence

Managers / Q4 2023 · view latest →

Bandera Partners LLC

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

Reported Value
$302M
Q4 2023
Positions
19
Filings on Record
31
2019–present window
Filed
Feb 13, 2024
original filing

Summary

Bandera Partners LLC reported $302M in U.S.-listed holdings across 19 positions for Q4 2023.

Its largest position, ATVIEUR, represents 16.3% of the portfolio.

Compared with Q3 2023, the fund opened 3 new positions and exited 2.

Portfolio Metrics

Turnover
+3.3%
vs prior filed quarter
Top-10 Concentration
+87.1%
share of reported value
Largest Position
+16.3%
Activision Blizzard
New / Exited
3 / 2
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: 89.0%Other: 9.4%ADR: 1.7%
  • Common Stock · 89.0% · $269M
  • Other · 9.4% · $28M
  • ADR · 1.7% · $5M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
MTCHMATCH GROUP INC NEWNEW+595.0K595.0K+$22M$22M
WHEELER REAL ESTATE INVT TRNEW+2.44M2.44M+$742,769$742,769
RBT*RUBICON TECHNOLOGIES INCNEW+128.3K128.3K+$100,092$100,092
WHEELER REAL ESTATE INVT TRSOLD OUT−153.0K0−$2M$0
RUBICON TECHNOLOGIES INCSOLD OUT−128.3K0−$182,219$0
AMKRAMKOR TECHNOLOGY INCTRIMMED−300.0K304.9K−$4M$10M
NIJNELNET INCADDED+8.6K120.6K+$633,992$11M
BTMDBIOTE CORPADDED+127.4K1.83M+$322,447$9M

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

Holdings — Q4 2023

18 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1GOOGALPHABET INCCAP STK CL C · CAP STK CL A17.94%$54M385.9K
2ATVIEURACTIVISION BLIZZARD INChistory →COM16.28%$49M525.0K
3SGUSTAR GROUP L Phistory →UNIT LTD PARTNR13.16%$40M3.45M
4JYNTJOINT CORPhistory →COM12.53%$38M3.94M
5BURFORD CAP LTDORD SHS9.13%$28M1.77M
6MTCHMATCH GROUP INC NEWhistory →COM7.19%$22M595.0K
7TLFTANDY LEATHER FACTORY INChistory →COM4.03%$12M2.86M
8NIJNELNET INChistory →CL A3.52%$11M120.6K
9AMKRAMKOR TECHNOLOGY INChistory →COM3.36%$10M304.9K
10BTMDBIOTE CORPhistory →CLASS A COM3.00%$9M1.83M
11EXECHESAPEAKE ENERGY CORPhistory →COM2.42%$7M95.0K
12AMRCAMERESCO INChistory →CL A1.83%$6M174.2K
13MIX TELEMATICS LTDSPONSORED ADR1.67%$5M584.3K
14AIRSAIRSCULPT TECHNOLOGIES INChistory →COM1.55%$5M623.0K
15HQIHIREQUEST INChistory →COM1.28%$4M251.8K
16DYAIDYADIC INTL INC DELCOM0.84%$3M1.57M
17WHEELER REAL ESTATE INVT TRCOM0.25%$742,7692.44M
18RBT*RUBICON TECHNOLOGIES INCCL A0.03%$100,092128.3K

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 ↗.