Stocks/Funds/CIK 1399386

Bandera Partners LLC

long-term holderconcentrated
Quarterly 13F filings · Latest period 2026-03-31 · CIK 1399386
Assets
$221M
-20.5% YoY
Holdings
17
Lifetime alpha vs market
-16.86% annual
Average hold time
4.3 yr
median 3.0 yr

Quarterly history

Cum return -27% vs S&P +52% · α -79% lifetimeAUM $221M · peak $336MFlow $24M (+11%)2016-062017-122019-062020-122022-062023-122025-062026-03
AUM ($B)fundS&P 500(gap = α)/ Flow in/out

Behavior signals (lifetime)

Dip response
+1.74%
adds when stocks drop
when a holding falls −10%+
Middle response
+0.14%
steady accumulation
Rally response
-2.25%
trims into rallies
when a holding rises +10%+

Top positions · 17

Ticker$ value% portYoYHold time
JYNTThe Joint Corp.$35M15.8%-29.1%8.0 yr
SGUStar Group, L.P.$34M15.2%-1.2%10.5 yr
AMKRAmkor Technology, Inc.$31M14.1%+152.4%5.3 yr
GOOGLAlphabet Inc.$26M11.6%10.5 yr
SKYWSkyWest, Inc.$16M7.4%+5.1%2.0 yr
AMRCAmeresco, Inc.$12M5.5%+111.1%8.3 yr
PARPAR Technology Corporati$9M4.2%-78.3%0.3 yr
MOHMolina Healthcare, Inc.$8M3.7%-59.5%0.3 yr
BURBurford Capital Limited$8M3.6%-65.4%4.8 yr
INTUIntuit Inc.$8M3.5%-29.3%0.3 yr
PWFLPowerFleet, Inc.$7M3.3%2.3 yr
TLFTandy Leather Factory, I$7M3.0%+5.5%8.5 yr
NNINelnet, Inc.$6M2.8%+17.4%3.0 yr
EATBrinker International, I$5M2.1%-4.2%0.3 yr
RRGBRed Robin Gourmet Burger$4M1.8%-17.7%1.5 yr

Portfolio composition (YoY)

Industry mix
Medical - Care Facilities17.0%-3.6pp$38M
Oil & Gas Refining & Marketing15.2%-1.1pp$34M
Semiconductors14.1%+12.1pp$31M
Internet Content & Information11.6%-1.5pp$26M
Software - Application7.7%$17M
Airlines, Airports & Air Services7.4%+0.9pp$16M
Engineering & Construction5.5%+2.3pp$12M
Restaurants3.9%+2.8pp$9M
Medical - Healthcare Plans3.7%$8M
Asset Management3.6%-4.8pp$8M
Country
US96.4%+8.6pp
GG3.6%-4.8pp
Top 5: 64.2% · Top 10: 84.7% · Top 25: 100.0%

Winners

TickerPrev $PnLYoY %
AMRC$9M+0.01B111.1%
AMKR$6M+0.01B152.4%
NNI$14M+0.00B17.4%
SKYW$18M+0.00B5.1%
TLF$8M+0.00B5.5%

Losers

TickerPrev $PnLYoY %
BUR$23M-0.02B-65.4%
JYNT$49M-0.01B-29.1%
BTMD$8M-0.00B-59.5%
RRGB$3M-0.00B-17.7%
SGU$45M-0.00B-1.2%

Top buys this quarter · 5

PAR PAR Technology Corporationnew+$9M
MOH Molina Healthcare, Inc.new+$8M
INTU Intuit Inc.new+$8M
EAT Brinker International, Inc.new+$5M
PWFL PowerFleet, Inc.+$7M

Top sells this quarter · 4

NNI Nelnet, Inc.$7M
BUR Burford Capital Limited$3M
AMRC Ameresco, Inc.$1M
BTMD biote Corp.$0M

Quarterly history (TTM returns)

PeriodAUM# PosReturn (1yr)SPY (1yr)Alpha (1yr)Flow
2026-03-31$221M17-12.90%+17.59%-30.49%+0.02B
2025-12-31$222M13-3.94%+17.72%-21.65%+0.00B
2025-09-30$228M13-3.41%+17.52%-20.93%+0.00B
2025-06-30$222M14-7.77%+14.94%-22.71%-0.06B
2025-03-31$278M18-7.59%+8.30%-15.90%+0.02B
2024-12-31$263M18-0.19%+24.89%-25.08%+0.01B
2024-09-30$265M18+8.35%+36.04%-27.68%-0.00B
2024-06-30$276M18-0.48%+24.49%-24.97%+0.01B
2024-03-31$257M19+2.47%+29.62%-27.15%-0.06B
2023-12-31$302M19+9.14%+26.18%-17.04%+0.01B
2023-09-30$277M18+15.27%+21.57%-6.30%+0.07B
2023-06-30$236M18+28.88%+19.42%+9.46%-0.02B
2023-03-31$243M16-11.86%-7.82%-4.04%+0.01B
2022-12-31$211M15+10.59%+7.56%+3.03%-0.05B
2022-09-30$239M16-1.09%-4.93%+3.84%-0.01B
2022-06-30$254M17-28.38%-16.11%-12.27%+0.01B