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Bandera Partners LLC
Bandera Partners LLC is a New York-based hedge fund founded in 2006 by Gregory Bylinsky and Jefferson Gramm. The firm focuses on value-oriented, activist investing, particularly in micro-cap and small-cap companies. Known for its concentrated portfolio, Bandera manages assets for a select group of clients and is recognized for long-term, hands-on engagement with portfolio companies. Bandera has around $196–$363 million in assets under management and employs a small, specialized team.
Investment Strategy
Bandera Partners pursues a value-oriented, activist investment strategy with a long bias. The firm focuses on identifying companies trading significantly below intrinsic value, often engaging in special situations like reorganizations, spin-offs, and distressed situations. Bandera takes concentrated positions and actively encourages management or strategic changes in its portfolio holdings to unlock shareholder value. Its approach combines fundamental analysis and a hands-on, long-term perspective.
Latest 13F Filing Activity
Bandera Partners LLC filed their most recent 13F report on Jun 30, 2025 disclosing 14 equity positions with a total 13F market value of $222M. The fund increased holdings in Burford Cap LTD, Amkor Technology Inc., Red Robin Gourmet Burgers in among other positions. Bandera Partners LLC reduced exposure to Occidental Pete Corp., Match Group Inc. New, Star Group L P among others.
Top Holdings
Equity Positions (14)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
J JYNT | JOINT CORP | 20.48% | $45.4M | 3,937,296 | $17.95 | $11.54 | -$3.7M |
B BUR | BURFORD CAP LTD | 16.14% | $35.8M | 2,510,883 | $11.53 | $14.26 | +$12.5M |
S SGU | STAR GROUP L P | 14.48% | $32.1M | 2,745,360 | $6.81 | $11.70 | -$13.3M |
S SKYW | SKYWEST INC | 8.31% | $18.4M | 179,107 | $84.99 | $102.97 | +$182.3K |
A AMKR | AMKOR TECHNOLOGY INC | 7.32% | $16.2M | 773,493 | $22.04 | $20.99 | +$10.7M |
Industry Allocation
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