# Bandera Partners LLC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1399386. Source: https://holderbook.com/funds/1399386-bandera-partners-llc/

- Reported value: $283.9M
- Positions: 19
- Weight of the ten largest: 82.4%
- Filed: 2026-08-12

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| STAR GROUP L P | [SGU](https://holderbook.com/stocks/SGU/) | $35.3M | 2,745,360 | 12.4% | 31 |
| JOINT CORP | [JYNT](https://holderbook.com/stocks/JYNT/) | $34.6M | 3,937,296 | 12.2% | 31 |
| SPACE EXPLORATION TECHN CORP | [SPCX](https://holderbook.com/stocks/SPCX/) | $34.0M | 198,920 | 12.0% | 1 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $31.9M | 89,322 | 11.2% | 31 |
| AMKOR TECHNOLOGY INC | [AMKR](https://holderbook.com/stocks/AMKR/) | $31.2M | 693,519 | 11.0% | 22 |
| SKYWEST INC | [SKYW](https://holderbook.com/stocks/SKYW/) | $17.8M | 179,107 | 6.3% | 9 |
| MOLINA HEALTHCARE INC | [MOH](https://holderbook.com/stocks/MOH/) | $14.0M | 61,000 | 4.9% | 2 |
| PAR TECHNOLOGY CORP | [PAR](https://holderbook.com/stocks/PAR/) | $12.2M | 700,000 | 4.3% | 2 |
| AMERESCO INC | [AMRC](https://holderbook.com/stocks/AMRC/) | $12.1M | 476,309 | 4.3% | 31 |
| RED ROBIN GOURMET BURGERS IN | [RRGB](https://holderbook.com/stocks/RRGB/) | $10.8M | 1,350,000 | 3.8% | 7 |
| POWERFLEET INC | [AIOT](https://holderbook.com/stocks/AIOT/) | $9.1M | 2,381,666 | 3.2% | 10 |
| BURFORD CAPITAL LIMITED | [BUR](https://holderbook.com/stocks/BUR/) | $7.2M | 1,756,762 | 2.5% | 20 |
| TANDY LEATHER FACTORY INC | [TLF](https://holderbook.com/stocks/TLF/) | $6.7M | 2,857,936 | 2.3% | 16 |
| NELNET INC | [NNI](https://holderbook.com/stocks/NNI/) | $6.1M | 47,159 | 2.1% | 13 |
| BRINKER INTL INC | [EAT](https://holderbook.com/stocks/EAT/) | $5.5M | 33,000 | 2.0% | 2 |
| INTUIT | [INTU](https://holderbook.com/stocks/INTU/) | $4.7M | 18,000 | 1.7% | 2 |
| SNAP INC | [SNAP](https://holderbook.com/stocks/SNAP/) | $3.9M | 880,000 | 1.4% | 1 |
| BIOTE CORP | [BTMD](https://holderbook.com/stocks/BTMD/) | $3.9M | 2,065,482 | 1.4% | 13 |
| HIREQUEST INC | [HQI](https://holderbook.com/stocks/HQI/) | $3.0M | 236,847 | 1.0% | 22 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +24.7% | +14.8% | +9.9% | 100% |
| Q1 2026 | -9.5% | -4.6% | -4.9% | 100% |
| Q4 2025 | -1.0% | +2.4% | -3.4% | 100% |
| Q3 2025 | +4.0% | +7.8% | -3.8% | 100% |
| Q2 2025 | +0.6% | +10.5% | -9.8% | 100% |
| Q1 2025 | -4.9% | -4.6% | -0.3% | 100% |
| Q4 2024 | -1.0% | +2.1% | -3.2% | 100% |
| Q3 2024 | -4.1% | +5.4% | -9.5% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $283.9M | 19 |
| Q1 2026 | $221.1M | 17 |
| Q4 2025 | $222.5M | 13 |
| Q3 2025 | $228.1M | 13 |
| Q2 2025 | $221.9M | 14 |
| Q1 2025 | $277.9M | 18 |
| Q4 2024 | $262.7M | 18 |
| Q3 2024 | $264.9M | 18 |
| Q2 2024 | $275.9M | 19 |
| Q1 2024 | $256.6M | 19 |
| Q4 2023 | $301.9M | 19 |
| Q3 2023 | $277.0M | 18 |