Bandera Partners LLC
Long book
$221.1M
Q1 2026
Positions
17
Top-10 weight
85%
concentration
Last quarter
+21.1%
SPY +14.8%
Turnover
24%
of book per quarter
Strategy in plain words
auto-generated from filingsBandera Partners LLC is a concentrated fundamental stock-picker, running a $221.1M US long book across 17 positions.
The portfolio is extremely concentrated — the top 10 positions are almost the whole book. Turnover is modest: positions are typically held for years. Current anchor positions: JOINT CORP/THE, STAR GROUP LP, AMKOR TECHNOLOGY INC, ALPHABET INC-CL A, SKYWEST INC.
Over the last 9 quarters its long book ran on average 3.2pp per quarter behind the S&P 500, beating the index in 2 of 9 quarters. We rate its filings highest-signal: new buys here are worth attention.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+2.1%
Q2 2024
-3.7%
Q3 2024
-0.6%
Q4 2024
-3.3%
Q1 2025
+1.0%
Q2 2025
+4.3%
Q3 2025
-0.8%
Q4 2025
-8.3%
Q1 2026
+21.1%
Sector allocation
Technology 37%
Financials 26%
Consumer discretionary 19%
Industrials 13%
Other 3%
Materials 1%
Services media 1%
Long book by quarter
What does Bandera Partners own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| JYNT JOINT CORP/THE | Financials | 3.9M | $34.8M | 15.8% | Held |
| SGU STAR GROUP LP | Consumer discretionary | 2.7M | $33.7M | 15.2% | Held |
| AMKR AMKOR TECHNOLOGY INC | Technology | 693.5K | $31.2M | 14.1% | Held |
| GOOGL ALPHABET INC-CL A | Technology | 89.3K | $25.7M | 11.6% | Held |
| SKYW SKYWEST INC | Industrials | 179.1K | $16.4M | 7.4% | Held |
| AMRC AMERESCO INC-CL A | Industrials | 476.3K | $12.1M | 5.5% | -9.6% |
| PAR PAR TECHNOLOGY CORP/DEL | Technology | 700.0K | $9.3M | 4.2% | New |
| MOH MOLINA HEALTHCARE INC | Financials | 61.0K | $8.1M | 3.7% | New |
| BUR BURFORD CAPITAL LTD | Financials | 1.8M | $7.9M | 3.6% | -27.2% |
| INTU INTUIT INC | Technology | 18.0K | $7.8M | 3.5% | New |
| AIOT POWERFLEET INC | Technology | 2.4M | $7.3M | 3.3% | +26.6% |
| TLF TANDY LEATHER FACTORY INC | Other | 2.9M | $6.6M | 3.0% | Held |
| NNI NELNET INC-CL A | Financials | 47.2K | $6.1M | 2.8% | -53.9% |
| EAT BRINKER INTERNATIONAL INC | Consumer discretionary | 33.0K | $4.7M | 2.1% | New |
| RRGB RED ROBIN GOURMET BURGERS | Consumer discretionary | 1.4M | $4.0M | 1.8% | Held |
| BTMD BIOTE CORP -A | Materials | 2.1M | $2.8M | 1.3% | -9.6% |
| HQI HIREQUEST INC | Services media | 236.8K | $2.4M | 1.1% | Held |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 13, 2026 | 17 | $221.1M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 13, 2026 | 13 | $222.5M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 12, 2025 | 13 | $228.1M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 12, 2025 | 14 | $221.9M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 13, 2025 | 18 | $277.9M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 12, 2025 | 18 | $262.7M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 12, 2024 | 18 | $264.9M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 12, 2024 | 19 | $275.9M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 14, 2024 | 19 | $256.6M | canonical | SEC ↗ |
Similar funds
Sanders Capital, LLCGATES FOUNDATION TRUSTEAGLE CAPITAL MANAGEMENT LLCWoodbridge Co LtdAlecta Tjanstepension OmsesidigtMubadala Investment Co PJSCH&H International Investment, LLCNewlands Management Operations LLCINVESTOR ABIndependent Franchise Partners LLPPineStone Asset Management Inc.Pentwater Capital Management LP