Bandera Partners LLC

Brooklyn, NY · CIK 1399386 · 13F filing filed 2026-08-12

SEC-registered investment adviser since 2012 · limited liability company

Assets managed$244.1m
Staff6 · 2 in investment roles
Main clients (by assets)Private funds 100%
Private funds1 (1 hedge) · $242.9m gross assets
Websitebanderapartners.com
Form ADV · 2026-03-27SEC adviser record

$283.9m reported value +28.4% vs Q1 2026

19positions

82.4%in top 10

2 new 0 added 0 reduced 0 sold out vs Q1 2026

This report includes the holdings of 2 other managers that share the investment decisions:

Bylinsky Gregory – reports through this filing
Gramm Jefferson – reports through this filing

Shares in two reports are counted once in each security's totals.

Holdings, Q2 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change
1	STAR GROUP L P UNIT LTD PARTNR SGU	SGU	2,745,360	$35.3m12.42%	12.42%	Unchanged
2	JOINT CORP COM JYNT	JYNT	3,937,296	$34.6m12.18%	12.18%	Unchanged
3	SPACE EXPLORATION TECHN CORP CLASS A COM STK SPCX	SPCX	198,920	$34.0m11.97%	11.97%	New
4	ALPHABET INC CAP STK CL A GOOGL	GOOGL	89,322	$31.9m11.24%	11.24%	Unchanged
5	AMKOR TECHNOLOGY INC COM AMKR	AMKR	693,519	$31.2m11.00%	11.00%	Unchanged
6	SKYWEST INC COM SKYW	SKYW	179,107	$17.8m6.27%	6.27%	Unchanged
7	MOLINA HEALTHCARE INC COM MOH	MOH	61,000	$14.0m4.91%	4.91%	Unchanged
8	PAR TECHNOLOGY CORP COM PAR	PAR	700,000	$12.2m4.29%	4.29%	Unchanged
9	AMERESCO INC CL A AMRC	AMRC	476,309	$12.1m4.28%	4.28%	Unchanged
10	RED ROBIN GOURMET BURGERS IN COM RRGB	RRGB	1,350,000	$10.8m3.80%	3.80%	Unchanged
11	POWERFLEET INC COM AIOT	AIOT	2,381,666	$9.1m3.21%	3.21%	Unchanged
12	BURFORD CAP LTD ORD SHS BUR	BUR	1,756,762	$7.2m2.54%	2.54%	Unchanged
13	TANDY LEATHER FACTORY INC COM TLF	TLF	2,857,936	$6.7m2.35%	2.35%	Unchanged
14	NELNET INC CL A NNI	NNI	47,159	$6.1m2.14%	2.14%	Unchanged
15	BRINKER INTL INC COM EAT	EAT	33,000	$5.5m1.95%	1.95%	Unchanged
16	INTUIT COM INTU	INTU	18,000	$4.7m1.65%	1.65%	Unchanged
17	SNAP INC CL A SNAP	SNAP	880,000	$3.9m1.38%	1.38%	New
18	BIOTE CORP CLASS A COM BTMD	BTMD	2,065,482	$3.9m1.37%	1.37%	Unchanged
19	HIREQUEST INC COM HQI	HQI	236,847	$3.0m1.05%	1.05%	Unchanged

Stakes above 5%

Companies where this manager has reported owning more than 5% of a class of shares, on Schedule 13D (may seek influence) or 13G (passive): its latest filing for each, from 19 Dec 2024 on.

Company	Ticker	Stake	Change	Schedule	Last filed
JOINT CORP JYNT · 13D · filed 2026-03-16	JYNT	27.9%≈ $34.6m	+1.4 pts	13D	2026-03-16
STAR GROUP L P SGU · 13G · filed 2025-11-13	SGU	8.7%≈ $37.9m		13G	2025-11-13
RED ROBIN GOURMET BURGERS IN RRGB · 13G · filed 2025-08-19	RRGB	7.6%≈ $10.8m	new	13G	2025-08-19
BIOTE CORP BTMD · 13G · filed 2026-05-13	BTMD	6.4%≈ $3.9m		13G	2026-05-13