Gendell Jeffrey L

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Gendell Jeffrey L reported 86 stock positions worth $5.4 billion. Its top holding was Ies (IESC) at 77.0% of the portfolio, followed by Avadel Pharmaceuticals (AVDL, 1.5%) and Alpha Metallurgical Resource (AMR, 1.4%). Compared with Q2 2025, it opened 10 new positions, added to 44 and reduced 9. The biggest buy was a new position in Humana (HUM) and the biggest sale Ies (IESC, shares −1%).

Most Recent 13F
Q2 2026
Location
Greenwich, CT
CIK
0001056581
Portfolio Value
$5.4B (Q3 2025)
SEC Filing
0001214659-25-016654 ↗ filed Nov 14, 2025

Holdings Value

0$5.0B$10.0B$15.0B Q1 2024: $2.6B Q1 2024 Q2 2024: $2.9B Q2 2024 Q3 2024: $3.2B Q3 2024 Q4 2024: $3.2B Q4 2024 Q1 2025: $2.3B Q1 2025 Q2 2025: $3.8B Q2 2025 Q3 2025: $5.4B $5.4B Q3 2025 Q4 2025: $5.7B Q4 2025 Q1 2026: $7.3B Q1 2026 Q2 2026: $11.1B Q2 2026

Holdings 86 stocks · $5.4B
IESC Ies Holdings Inc. filed as IES HLDGS INC 77.03% 10,530,501 $4.2B Reduce -1.4%
AVDL Avadel Pharmaceuticals Ltd. 1.49% 5,314,810 $81.2M Add +2.7%
AMR Alpha Metallurgical Resource 1.43% 475,039 $77.9M Add +60.3%
BXC Bluelinx Holdings Inc. 0.89% 659,336 $48.2M Add +17.0%
HUM Humana Inc. 0.74% 154,638 $40.2M New
BTU Peabody Energy Corp. 0.72% 1,478,332 $39.2M Add +327.2%
MU Micron Technology Inc. 0.67% 217,000 $36.3M Add +29.9%
FLEX Flex Ltd. 0.66% 623,472 $36.1M Add +1146.9%
SNDK Sandisk Corp. 0.65% 314,839 $35.3M Add +91.0%
TPC Tutor Perini Corp. 0.55% 456,356 $29.9M New
OC Owens Corning 0.53% 205,224 $29.0M Add +38.0%
WDC Western Digital Corp. 0.53% 240,000 $28.8M Add +152.6%
ATKR Atkore Inc. 0.48% 418,146 $26.2M Add +178.6%
BA The Boeing Co. 0.48% 120,000 $25.9M New
LUMN Lumen Technologies Inc. 0.48% 4,221,695 $25.8M Add +667.6%
INDV Indivior Ltd. 0.46% 1,046,481 $25.2M Add +22.2%
RIG Transocean Ltd. 0.46% 8,023,351 $25.0M Add +473.1%
GLW Corning Inc. 0.45% 300,900 $24.7M Add +150.8%
MHK Mohawk Industries Inc. 0.45% 188,569 $24.3M Add +64.0%
NBR Nabors Industries Ltd. 0.45% 594,716 $24.3M Add +101.8%
IWM iShares Russell 2000 ETF 0.44% 99,493 $24.1M Reduce -41.5%
XBI SS SPDR S&P Biotech ETF 0.43% 232,278 $23.3M Add +151.7%
AMD Advanced Micro Devices 0.42% 140,578 $22.7M Add +177.9%
UFPI Ufp Industries Inc. 0.41% 240,884 $22.5M Add +270.6%
SLB SLB Ltd. filed as SCHLUMBERGER LTD 0.41% 650,000 $22.3M Add +44.4%
TTI Tetra Technologies Inc. 0.40% 3,817,255 $21.9M Add +4.8%
GNW Genworth Financial Inc. 0.40% 2,420,204 $21.5M New
OIH Vaneck Oil Services ETF 0.39% 81,448 $21.2M Reduce -39.8%
LXU LSB Industries Inc. 0.30% 2,058,807 $16.2M Add +5.9%
SKY Champion Homes Inc. 0.29% 205,349 $15.7M Add +20.6%
OSG Octave Specialty Group Inc. filed as AMBAC FINL GROUP INC 0.29% 1,864,512 $15.6M Add +55.6%
BW Babcock & Wilcox Enterpr 0.25% 4,752,823 $13.8M Add +84.6%
IOSP Innospec Inc. 0.25% 174,949 $13.5M Add +119.3%
CNR Core Natural Resources Inc. 0.23% 151,906 $12.7M Add +41.2%
MTRX Matrix Service Co. 0.23% 946,474 $12.4M Add +54.0%
AMRZ Amrize Ltd. 0.22% 242,091 $11.7M New
LBRT Liberty Energy Inc. 0.20% 888,605 $11.0M Add +50.9%
PATK Patrick Industries Inc. 0.20% 105,088 $10.9M No change
RBCAA Republic Bancorp Inc. Class A 0.19% 142,916 $10.3M No change
OIS Oil States International Inc. filed as OIL STS INTL INC 0.18% 1,637,718 $9.9M Add +1.9%
CMI Cummins Inc. 0.17% 22,240 $9.4M No change
EQT Eqt Corp. 0.17% 171,863 $9.4M New
XLE SS Energy Select Sector 0.17% 104,052 $9.3M New
AAPL Apple Inc. 0.16% 35,000 $8.9M Reduce -30.0%
PSEC Prospect Capital Corp. 0.16% 3,166,215 $8.7M New
ORN Orion Group Holdings Inc. 0.16% 1,037,177 $8.6M Add +440.8%
MTRN Materion Corp. 0.16% 71,296 $8.6M Add +16.3%
IROQ If Bancorp Inc. 0.16% 326,179 $8.4M No change
FRD Friedman Industries 0.14% 354,576 $7.8M No change
ODP The Odp Corp. filed as THE ODP CORP 0.14% 266,489 $7.4M Reduce -27.0%
CLB Core Laboratories Inc. 0.13% 569,471 $7.0M No change
TSEM Tower Semiconductor Ltd. 0.12% 93,099 $6.7M No change
WGO Winnebago Industries 0.12% 199,843 $6.7M Add +37.3%
PEBK Peoples Bancorp of NC 0.12% 217,763 $6.7M No change
COHR Coherent Corp. 0.12% 61,350 $6.6M Add +95.7%
SXC Suncoke Energy Inc. 0.12% 807,512 $6.6M Add +176.8%
FUNC First United Corp. 0.12% 178,352 $6.6M No change
KRE SS SPDR S&P Regional Bank 0.12% 100,000 $6.3M New
WTTR Select Water Solutions Inc. 0.11% 546,309 $5.8M No change
SND Smart Sand Inc. 0.11% 2,696,408 $5.8M Add +32.2%
SLND Southland Holdings Inc. 0.10% 1,246,629 $5.3M Add +68.1%
FMBH First Mid Bancshares Inc. 0.10% 137,473 $5.2M No change
ALRS Alerus Financial Corp. 0.10% 233,700 $5.2M No change
FUSB First US Bancshares Inc. 0.09% 397,454 $4.8M Add +5.2%
INSG Inseego Corp. 0.09% 319,048 $4.8M New
ASRV Ameriserv Financial Inc. 0.09% 1,635,677 $4.7M No change
NOV Nov Inc. 0.08% 339,697 $4.5M Reduce -12.4%
FCG First Trust Natural Gas ETF 0.08% 190,000 $4.5M Add +18.8%
DTI Drilling Tools International 0.08% 1,887,691 $4.3M Add +33.5%
COFS Choiceone Financial SVCS Inc. 0.08% 148,548 $4.3M No change
CZWI Citizens Community Bancorp I 0.07% 248,319 $4.0M No change
INVX Innovex International Inc. 0.07% 193,212 $3.6M Add +391.3%
KLXE KLX Energy Services Holding 0.06% 1,713,108 $3.3M Add +1.2%
PSCE Invesco S&P Smallcap Energy 0.05% 68,469 $2.9M Reduce -8.6%
NINEQ Nine Energy Service Inc. 0.05% 4,178,566 $2.6M No change
CAC Camden National Corp. 0.04% 61,269 $2.4M No change
OCC Optical Cable Corp. 0.04% 281,830 $2.3M Add +314.8%
BVFL BV Financial Inc. filed as BV FINL INC 0.04% 141,262 $2.3M No change
SHBI Shore Bancshares Inc. 0.04% 136,840 $2.2M No change
TGEN Tecogen Inc./Waltham Ma 0.04% 243,622 $2.1M Add +484.2%
BRBS Blue Ridge Bankshares Inc. 0.02% 312,221 $1.3M No change
FENC Fennec Pharmaceuticals Inc. 0.02% 139,559 $1.3M Reduce -0.1%
SBFG SB Financial Group Inc. filed as SB FINL GROUP INC 0.02% 46,286 $893K No change
FRBA First Bank/Hamilton NJ 0.01% 48,939 $797K No change
TILE Interface Inc. 0.01% 25,000 $724K Reduce -85.2%
CIVB Civista Bancshares Inc. 0.00% 10,000 $203K No change
Other holdings (1): bonds, preferreds, convertibles and warrants · $14K (not counted above)
SecurityClassShares / PrincipalValueChange
ASTLW Algoma Steel Group Inc. -CW26 *W EXP 10/19/202 93,408$14KNo change

Total filed on the 13F, all lines: $5.4B.

Portfolio Sells Q2 2025 → Q3 2025
IESC Ies Holdings Inc. Reduce -1.4% 77.03% −6.95
IWM iShares Russell 2000 ETF Reduce -41.5% 0.44% −0.53
OIH Vaneck Oil Services ETF Reduce -39.8% 0.39% −0.44
AAPL Apple Inc. Reduce -30.0% 0.16% −0.11
TILE Interface Inc. Reduce -85.2% 0.01% −0.08
NOV Nov Inc. Reduce -12.4% 0.08% −0.05
ODP The Odp Corp. Reduce -27.0% 0.14% −0.04
PSCE Invesco S&P Smallcap Energy Reduce -8.6% 0.05% −0.02
FENC Fennec Pharmaceuticals Inc. Reduce -0.1% 0.02% −0.01

Portfolio Buys Q2 2025 → Q3 2025
HUM Humana Inc. New 0.74% +0.74
FLEX Flex Ltd. Add +1146.9% 0.66% +0.60
BTU Peabody Energy Corp. Add +327.2% 0.72% +0.60
TPC Tutor Perini Corp. New 0.55% +0.55
AMR Alpha Metallurgical Resource Add +60.3% 1.43% +0.55
BA The Boeing Co. New 0.48% +0.48
SNDK Sandisk Corp. Add +91.0% 0.65% +0.45
LUMN Lumen Technologies Inc. Add +667.6% 0.48% +0.41
GNW Genworth Financial Inc. New 0.40% +0.40
WDC Western Digital Corp. Add +152.6% 0.53% +0.37
RIG Transocean Ltd. Add +473.1% 0.46% +0.36
GLW Corning Inc. Add +150.8% 0.45% +0.29
AVDL Avadel Pharmaceuticals Ltd. Add +2.7% 1.49% +0.28
UFPI Ufp Industries Inc. Add +270.6% 0.41% +0.24
AMD Advanced Micro Devices Add +177.9% 0.42% +0.23
NBR Nabors Industries Ltd. Add +101.8% 0.45% +0.23
XBI SS SPDR S&P Biotech ETF Add +151.7% 0.43% +0.22
AMRZ Amrize Ltd. New 0.22% +0.22
ATKR Atkore Inc. Add +178.6% 0.48% +0.20
BW Babcock & Wilcox Enterpr Add +84.6% 0.25% +0.19
EQT Eqt Corp. New 0.17% +0.17
XLE SS Energy Select Sector New 0.17% +0.17
PSEC Prospect Capital Corp. New 0.16% +0.16
INDV Indivior Ltd. Add +22.2% 0.46% +0.13
MHK Mohawk Industries Inc. Add +64.0% 0.45% +0.13
MU Micron Technology Inc. Add +29.9% 0.67% +0.12
KRE SS SPDR S&P Regional Bank New 0.12% +0.12
ORN Orion Group Holdings Inc. Add +440.8% 0.16% +0.11
INSG Inseego Corp. New 0.09% +0.09
TTI Tetra Technologies Inc. Add +4.8% 0.40% +0.08
IOSP Innospec Inc. Add +119.3% 0.25% +0.07
OSG Octave Specialty Group Inc. Add +55.6% 0.29% +0.06
SXC Suncoke Energy Inc. Add +176.8% 0.12% +0.05
INVX Innovex International Inc. Add +391.3% 0.07% +0.05
COHR Coherent Corp. Add +95.7% 0.12% +0.05
OCC Optical Cable Corp. Add +314.8% 0.04% +0.04
CNR Core Natural Resources Inc. Add +41.2% 0.23% +0.03
TGEN Tecogen Inc./Waltham Ma Add +484.2% 0.04% +0.03
MTRN Materion Corp. Add +16.3% 0.16% +0.03
LBRT Liberty Energy Inc. Add +50.9% 0.20% +0.02
SLND Southland Holdings Inc. Add +68.1% 0.10% +0.02
WGO Winnebago Industries Add +37.3% 0.12% +0.01
MTRX Matrix Service Co. Add +54.0% 0.23% +0.01
SLB SLB Ltd. Add +44.4% 0.41% +0.01
SKY Champion Homes Inc. Add +20.6% 0.29% +0.01
SND Smart Sand Inc. Add +32.2% 0.11% −0.00
OC Owens Corning Add +38.0% 0.53% −0.01
FCG First Trust Natural Gas ETF Add +18.8% 0.08% −0.02
KLXE KLX Energy Services Holding Add +1.2% 0.06% −0.02
DTI Drilling Tools International Add +33.5% 0.08% −0.03

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 103$11.1BIESC, SNDK, OC, MU, TPC
Q1 2026 101$7.3BIESC, IWM, AMR, OC, TPC
Q4 2025 93$5.7BIESC, OC, AVDL, AMR, WTM
Q3 2025 86$5.4BIESC, AVDL, AMR, BXC, HUM
Q2 2025 76$3.8BIESC, AVDL, BXC, IWM, AMR
Q1 2025 78$2.3BIESC, AVDL, BXC, AMR, OIH
Q4 2024 87$3.2BIESC, AMR, OIH, AVDL, IWM
Q3 2024 84$3.2BIESC, AMR, AVDL, BTU, HAL
Q2 2024 99$2.9BIESC, AMR, OIH, AVDL, SLB
Q1 2024 88$2.6BIESC, IWM, AMR, OIH, AVDL