Bandera Partners portfolio
Concentrated managerInvestment firmPortfolio as of Jun 30, 2026 (Q2 2026) · filed with the SEC on Aug 12, 2026 · data updated on Nov 5, 2026 · Q2 2026 13F (filing) ↗ · all its 13F filings ↗
A 13F shows the portfolio at quarter-end and is filed up to 45 days later: these are not real-time positions and they may have changed.
Bandera Partners reported a $284M portfolio of 19 positions to the SEC as of the end of Q2 2026. Its largest positions are SGU, JYNT, SPCX. During the quarter it opened Snap.
Sections with a free account
What changed this quarter
1 position with a change (1 new); also, 1 entered through an IPO. 1 is listed here: those of 0.5 points of the portfolio or more (up to 12).
- Newly listedSpace Exploration TechnologiesSPCX12.0% of the portfolio
It started trading this quarter: it appears in a 13F for the first time. The filing does not say whether the manager already held it before the listing, so it is not counted as a purchase.
- Snap+1.4 ppof portfolioNew— → 1.4%
The figure on the right: for positions added to or trimmed, the change in the number of shares (%); for new and sold ones, the points of the portfolio moved (pp). Below, the portfolio weight before → after. Traded weight: what it bought or sold, excluding price effects.
Top holdings
- Star GroupSGU12.4%
- JointJYNT12.2%
- Space Exploration TechnologiesSPCX12.0%
- AlphabetGOOGL11.2%
- Amkor TechnologyAMKR11.0%
- SkywestSKYW6.3%
- Molina HealthcareMOH4.9%
- PAR TechnologyPAR4.3%
- AmerescoAMRC4.3%
- Red Robin Gourmet BurgersRRGB3.8%
- PowerfleetAIOT3.2%
- Burford CapitalBUR2.5%
- Tandy Leather FactoryTLF2.3%
- NelnetNNI2.1%
- Brinker InternationalEAT2.0%
“Since”: first quarter of the current run, unbroken until today. In the details, prices are the quarter-end prices of the quarters in which it added shares, per the 13F. The manager may have bought at any price within each quarter; the SEC only publishes the value at quarter end.
Portfolio by sector
- ● Industrials 24%
- ● Information Technology 22%
- ● Consumer Discretionary 21%
- ● Financials 17%
- ● Communication Services 11%
- ● Health Care 6%
How its portfolio changed (8 quarters)
Q2 2026: 19
Q2 2026: 82%
Q2 2026: 6.7%
Traded turnover: the weight it bought plus the weight it sold in the quarter, divided by two, excluding price moves. The plain “turnover” in the header does include that effect. With a free account: the full history and sectors over time.
Stakes above 5% (13D/13G)
Companies where this filer reported holding 5% or more of the shares. It is the figure from its latest filing on each one; history since December 2024.
How we classify it
Investment firm, per its Form ADV of Mar 27, 2026 (high confidence).
The data, as reported: BANDERA PARTNERS (CRD 161230): 7.B private funds: 1 hedge (gross assets $243M); 5.D assets by client type: pooled vehicles 100% (of $244M)
The type comes from a rule applied to that data. If it looks wrong, tell us.
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