Bandera Partners LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 12, 2025), Bandera Partners LLC reported 14 stock positions worth $221.9 million. Its top holding was Joint (JYNT) at 20.5% of the portfolio, followed by Burford Capital (BUR, 16.1%) and Star (SGU, 14.5%). Compared with Q1 2025, it sold out of 4, added to 4 and reduced 8. The biggest buy was Burford Capital (BUR, shares +42%) and the biggest sale an exit from Occidental Petroleum (OXY).
- Most Recent 13F
- Q2 2026
- Location
- Brooklyn, NY
- CIK
- 0001399386
- Portfolio Value
- $221.9M (Q2 2025)
- SEC Filing
- 0000921895-25-002157 ↗ filed Aug 12, 2025
Holdings Value
Holdings 14 stocks · $221.9M
| JYNT The Joint Corp. | 20.48% | 3,937,296 | $45.4M | No change |
| BUR Burford Capital Ltd. | 16.14% | 2,510,883 | $35.8M | Add +42.1% |
| SGU Star Group LP | 14.48% | 2,745,360 | $32.1M | Reduce -20.3% |
| SKYW Skywest Inc. | 8.31% | 179,107 | $18.4M | Reduce -14.3% |
| AMKR Amkor Technology Inc. | 7.32% | 773,493 | $16.2M | Add +153.7% |
| GOOGL Alphabet Inc. Class A | 7.09% | 89,322 | $15.7M | Reduce -23.2% |
| NNI Nelnet Inc. Class A | 5.59% | 102,389 | $12.4M | Reduce -19.4% |
| BTMD Biote Corp. Class A | 4.14% | 2,283,791 | $9.2M | Reduce -6.2% |
| TLF Tandy Leather Factory Inc. | 3.98% | 2,857,936 | $8.8M | No change |
| AIOT Powerfleet Inc. | 3.66% | 1,881,666 | $8.1M | Add +0.9% |
| AMRC Ameresco Inc. Class A | 3.61% | 526,769 | $8.0M | Reduce -28.3% |
| RRGB Red Robin Gourmet Burgers | 3.52% | 1,350,000 | $7.8M | Add +58.8% |
| HQI Hirequest Inc. | 1.07% | 236,847 | $2.4M | Reduce -6.0% |
| DYAI Dyadic International Inc. | 0.62% | 1,383,308 | $1.4M | Reduce -11.7% |
Portfolio Sells Q1 2025 → Q2 2025
| OXY Occidental Petroleum Corp. | Sold out | 0.00% | −7.55 |
| MTCH Match Group Inc. | Sold out | 0.00% | −6.68 |
| EXE Expand Energy Corp. | Sold out | 0.00% | −3.81 |
| CMPR Cimpress PLC | Sold out | 0.00% | −3.74 |
| SGU Star Group LP | Reduce -20.3% | 14.48% | −1.86 |
| DYAI Dyadic International Inc. | Reduce -11.7% | 0.62% | −0.14 |
| HQI Hirequest Inc. | Reduce -6.0% | 1.07% | −0.01 |
| AMRC Ameresco Inc. Class A | Reduce -28.3% | 3.61% | +0.41 |
| NNI Nelnet Inc. Class A | Reduce -19.4% | 5.59% | +0.52 |
| GOOGL Alphabet Inc. Class A | Reduce -23.2% | 7.09% | +0.62 |
| BTMD Biote Corp. Class A | Reduce -6.2% | 4.14% | +1.22 |
| SKYW Skywest Inc. | Reduce -14.3% | 8.31% | +1.74 |
Portfolio Buys Q1 2025 → Q2 2025
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 19 | $283.9M | SGU, JYNT, SPCX, GOOGL, AMKR |
| Q1 2026 | 17 | $221.1M | JYNT, SGU, AMKR, GOOGL, SKYW |
| Q4 2025 | 13 | $222.5M | JYNT, SGU, GOOGL, AMKR, BUR |
| Q3 2025 | 13 | $228.1M | JYNT, SGU, BUR, AMKR, GOOGL |
| Q2 2025 | 14 | $221.9M | JYNT, BUR, SGU, SKYW, AMKR |
| Q1 2025 | 18 | $277.9M | JYNT, SGU, BUR, OXY, MTCH |
| Q4 2024 | 18 | $262.7M | JYNT, SGU, BUR, GOOGL, OXY |
| Q3 2024 | 18 | $264.9M | JYNT, SGU, BUR, MTCH, OXY |
| Q2 2024 | 19 | $275.9M | JYNT, SGU, M, BUR, GOOGL |
| Q1 2024 | 19 | $256.6M | JYNT, SGU, BUR, MTCH, M |