Gendell Jeffrey L

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 13, 2026), Gendell Jeffrey L reported 93 stock positions worth $5.7 billion. Its top holding was Ies (IESC) at 70.2% of the portfolio, followed by Owens Corning (OC, 1.8%) and Avadel Pharmaceuticals (AVDL, 1.8%). Compared with Q3 2025, it opened 13 new positions, sold out of 6, added to 34 and reduced 19. The biggest buy was Owens Corning (OC, shares +349%) and the biggest sale Ies (IESC, shares −2%).

Most Recent 13F
Q2 2026
Location
Greenwich, CT
CIK
0001056581
Portfolio Value
$5.7B (Q4 2025)
SEC Filing
0001214659-26-001719 ↗ filed Feb 13, 2026

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 Q3 2025 Q4 2025: $5.7B $5.7B Q4 2025 Q1 2026: $7.3B Q1 2026 Q2 2026: $11.1B Q2 2026

Holdings 93 stocks · $5.7B
IESC Ies Holdings Inc. filed as IES HLDGS INC 70.24% 10,348,407 $4.0B Reduce -1.7%
OC Owens Corning 1.80% 922,063 $103.2M Add +349.3%
AVDL Avadel Pharmaceuticals Ltd. 1.79% 4,769,357 $102.8M Reduce -10.3%
AMR Alpha Metallurgical Resource 1.72% 494,072 $98.8M Add +4.0%
WTM White Mountains Insurance GP 1.18% 32,520 $67.6M New
TPC Tutor Perini Corp. 1.04% 889,915 $59.6M Add +95.0%
GNW Genworth Financial Inc. 1.02% 6,485,888 $58.6M Add +168.0%
MHK Mohawk Industries Inc. 0.85% 445,669 $48.7M Add +136.3%
RIG Transocean Ltd. 0.78% 10,789,833 $44.6M Add +34.5%
BXC Bluelinx Holdings Inc. 0.77% 718,993 $44.2M Add +9.1%
OIH Vaneck Oil Services ETF 0.73% 146,532 $41.7M Add +79.9%
MU Micron Technology Inc. 0.71% 143,373 $40.9M Reduce -33.9%
FLEX Flex Ltd. 0.71% 676,448 $40.9M Add +8.5%
INDV Indivior Ltd. 0.69% 1,096,343 $39.3M Add +4.8%
SNDK Sandisk Corp. 0.69% 165,449 $39.3M Reduce -47.5%
LUMN Lumen Technologies Inc. 0.65% 4,761,216 $37.0M Add +12.8%
WDC Western Digital Corp. 0.63% 210,189 $36.2M Reduce -12.4%
SLB SLB Ltd. filed as SLB LIMITED 0.58% 870,000 $33.4M Add +33.9%
BW Babcock & Wilcox Enterpr 0.56% 5,046,068 $32.0M Add +6.2%
XBI SS SPDR S&P Biotech ETF 0.56% 262,278 $32.0M Add +12.9%
UFPI Ufp Industries Inc. 0.54% 340,698 $31.0M Add +41.4%
TTI Tetra Technologies Inc. 0.47% 2,885,544 $27.0M Reduce -24.4%
SKY Champion Homes Inc. 0.47% 317,097 $26.8M Add +54.4%
GLW Corning Inc. 0.46% 300,900 $26.3M No change
HAL Halliburton Co. 0.45% 921,100 $26.0M New
ATKR Atkore Inc. 0.43% 387,201 $24.5M Reduce -7.4%
AMD Advanced Micro Devices 0.39% 105,000 $22.5M Reduce -25.3%
FCG First Trust Natural Gas ETF 0.39% 943,874 $22.1M Add +396.8%
IOSP Innospec Inc. 0.38% 285,351 $21.8M Add +63.1%
EQT Eqt Corp. 0.33% 351,863 $18.9M Add +104.7%
NBR Nabors Industries Ltd. 0.32% 342,799 $18.6M Reduce -42.4%
LXU LSB Industries Inc. 0.32% 2,134,130 $18.1M Add +3.7%
BA The Boeing Co. 0.31% 81,811 $17.8M Reduce -31.8%
CNR Core Natural Resources Inc. 0.28% 180,749 $16.0M Add +19.0%
BTU Peabody Energy Corp. 0.26% 506,614 $15.0M Reduce -65.7%
FTI Technipfmc PLC 0.25% 320,000 $14.3M New
LBRT Liberty Energy Inc. 0.25% 771,289 $14.2M Reduce -13.2%
SND Smart Sand Inc. 0.22% 3,126,915 $12.5M Add +16.0%
FMC FMC Corp. 0.22% 900,000 $12.5M New
MTRX Matrix Service Co. 0.22% 1,057,561 $12.4M Add +11.7%
OSG Octave Specialty Group Inc. 0.21% 1,569,472 $12.2M Reduce -15.8%
PATK Patrick Industries Inc. 0.20% 105,088 $11.4M No change
CMI Cummins Inc. 0.20% 22,240 $11.4M No change
ORN Orion Group Holdings Inc. 0.19% 1,104,300 $11.0M Add +6.5%
SXC Suncoke Energy Inc. 0.18% 1,472,040 $10.6M Add +82.3%
OIS Oil States International Inc. filed as OIL STS INTL INC 0.18% 1,565,269 $10.6M Reduce -4.4%
CLB Core Laboratories Inc. 0.18% 648,460 $10.4M Add +13.9%
RBCAA Republic Bancorp Inc. Class A 0.17% 142,916 $9.9M No change
PSEC Prospect Capital Corp. 0.17% 3,728,319 $9.7M Add +17.8%
AAPL Apple Inc. 0.17% 35,000 $9.5M No change
HUM Humana Inc. 0.16% 36,000 $9.2M Reduce -76.7%
BHC Bausch Health Cos Inc. 0.16% 1,298,275 $9.0M New
MTRN Materion Corp. 0.15% 71,296 $8.9M No change
TSEM Tower Semiconductor Ltd. 0.15% 75,000 $8.8M Reduce -19.4%
IROQ If Bancorp Inc. 0.15% 326,179 $8.8M No change
INVX Innovex International Inc. 0.15% 392,311 $8.6M Add +103.0%
BAX Baxter International Inc. 0.15% 446,125 $8.5M New
PEBK Peoples Bancorp of NC 0.14% 217,763 $7.9M No change
FRD Friedman Industries 0.13% 354,576 $7.3M No change
GT Goodyear Tire & Rubber Co. 0.13% 820,569 $7.2M New
WGO Winnebago Industries 0.12% 170,585 $6.9M Reduce -14.6%
FUNC First United Corp. 0.12% 178,352 $6.7M No change
SLND Southland Holdings Inc. 0.11% 1,899,940 $6.3M Add +52.4%
AVTR Avantor Inc. 0.11% 545,000 $6.2M New
BOOM DMC Global Inc. 0.11% 902,306 $6.0M New
DTI Drilling Tools International 0.10% 2,439,737 $6.0M Add +29.2%
WTTR Select Water Solutions Inc. 0.10% 546,309 $5.7M No change
FUSB First US Bancshares Inc. 0.10% 397,454 $5.6M No change
FMBH First Mid Bancshares Inc. 0.09% 137,473 $5.4M No change
NOV Nov Inc. 0.09% 339,697 $5.3M No change
ALRS Alerus Financial Corp. 0.09% 233,700 $5.3M No change
ASRV Ameriserv Financial Inc. 0.09% 1,635,677 $5.2M No change
COHR Coherent Corp. 0.09% 27,627 $5.1M Reduce -55.0%
CZWI Citizens Community Bancorp I 0.08% 248,319 $4.4M No change
INSG Inseego Corp. 0.08% 429,301 $4.4M Add +34.6%
COFS Choiceone Financial SVCS Inc. 0.08% 148,548 $4.4M No change
KLXE KLX Energy Services Holding 0.06% 1,753,108 $3.3M Add +2.3%
PSCE Invesco S&P Smallcap Energy 0.05% 68,469 $2.9M No change
CAC Camden National Corp. 0.05% 61,269 $2.7M No change
BVFL BV Financial Inc. filed as BV FINL INC 0.04% 141,262 $2.6M No change
SHBI Shore Bancshares Inc. 0.04% 136,840 $2.4M No change
UTI Universal Technical Institut 0.04% 91,585 $2.4M New
OCC Optical Cable Corp. 0.03% 415,340 $1.8M Add +47.4%
AA Alcoa Corp. 0.03% 33,394 $1.8M New
TGEN Tecogen Inc./Waltham Ma 0.03% 295,541 $1.5M Add +21.3%
FENC Fennec Pharmaceuticals Inc. 0.02% 139,559 $1.1M No change
SBFG SB Financial Group Inc. filed as SB FINL GROUP INC 0.02% 46,286 $1.0M No change
BRBS Blue Ridge Bankshares Inc. 0.02% 214,608 $916K Reduce -31.3%
FRBA First Bank/Hamilton NJ 0.01% 48,939 $806K No change
TILE Interface Inc. 0.01% 25,000 $698K No change
GSM Ferroglobe PLC 0.01% 97,997 $455K New
SCL Stepan Co. 0.01% 9,085 $430K New
CIVB Civista Bancshares Inc. 0.00% 10,000 $222K No change

Options reported separately and not counted above: AVDL calls ($24.4M).

Portfolio Sells Q3 2025 → Q4 2025
IESC Ies Holdings Inc. Reduce -1.7% 70.24% −6.79
HUM Humana Inc. Reduce -76.7% 0.16% −0.58
BTU Peabody Energy Corp. Reduce -65.7% 0.26% −0.46
IWM iShares Russell 2000 ETF Sold out 0.00% −0.44
AMRZ Amrize Ltd. Sold out 0.00% −0.22
XLE SS Energy Select Sector Sold out 0.00% −0.17
BA The Boeing Co. Reduce -31.8% 0.31% −0.17
ODP The Odp Corp. Sold out 0.00% −0.14
NBR Nabors Industries Ltd. Reduce -42.4% 0.32% −0.12
KRE SS SPDR S&P Regional Bank Sold out 0.00% −0.12
OSG Octave Specialty Group Inc. Reduce -15.8% 0.21% −0.07
ATKR Atkore Inc. Reduce -7.4% 0.43% −0.06
NINEQ Nine Energy Service Inc. Sold out 0.00% −0.05
COHR Coherent Corp. Reduce -55.0% 0.09% −0.03
AMD Advanced Micro Devices Reduce -25.3% 0.39% −0.03
BRBS Blue Ridge Bankshares Inc. Reduce -31.3% 0.02% −0.01
WGO Winnebago Industries Reduce -14.6% 0.12% −0.00
OIS Oil States International Inc. Reduce -4.4% 0.18% +0.00
TSEM Tower Semiconductor Ltd. Reduce -19.4% 0.15% +0.03
SNDK Sandisk Corp. Reduce -47.5% 0.69% +0.04
MU Micron Technology Inc. Reduce -33.9% 0.71% +0.05
LBRT Liberty Energy Inc. Reduce -13.2% 0.25% +0.05
TTI Tetra Technologies Inc. Reduce -24.4% 0.47% +0.07
WDC Western Digital Corp. Reduce -12.4% 0.63% +0.10
AVDL Avadel Pharmaceuticals Ltd. Reduce -10.3% 1.79% +0.30

Portfolio Buys Q3 2025 → Q4 2025
OC Owens Corning Add +349.3% 1.80% +1.27
WTM White Mountains Insurance GP New 1.18% +1.18
GNW Genworth Financial Inc. Add +168.0% 1.02% +0.63
TPC Tutor Perini Corp. Add +95.0% 1.04% +0.49
HAL Halliburton Co. New 0.45% +0.45
MHK Mohawk Industries Inc. Add +136.3% 0.85% +0.40
OIH Vaneck Oil Services ETF Add +79.9% 0.73% +0.34
RIG Transocean Ltd. Add +34.5% 0.78% +0.32
BW Babcock & Wilcox Enterpr Add +6.2% 0.56% +0.30
FCG First Trust Natural Gas ETF Add +396.8% 0.39% +0.30
AMR Alpha Metallurgical Resource Add +4.0% 1.72% +0.29
FTI Technipfmc PLC New 0.25% +0.25
INDV Indivior Ltd. Add +4.8% 0.69% +0.22
FMC FMC Corp. New 0.22% +0.22
SKY Champion Homes Inc. Add +54.4% 0.47% +0.18
SLB SLB Ltd. Add +33.9% 0.58% +0.17
LUMN Lumen Technologies Inc. Add +12.8% 0.65% +0.17
BHC Bausch Health Cos Inc. New 0.16% +0.16
EQT Eqt Corp. Add +104.7% 0.33% +0.16
BAX Baxter International Inc. New 0.15% +0.15
IOSP Innospec Inc. Add +63.1% 0.38% +0.13
XBI SS SPDR S&P Biotech ETF Add +12.9% 0.56% +0.13
UFPI Ufp Industries Inc. Add +41.4% 0.54% +0.13
GT Goodyear Tire & Rubber Co. New 0.13% +0.13
SND Smart Sand Inc. Add +16.0% 0.22% +0.11
AVTR Avantor Inc. New 0.11% +0.11
BOOM DMC Global Inc. New 0.11% +0.11
INVX Innovex International Inc. Add +103.0% 0.15% +0.08
SXC Suncoke Energy Inc. Add +82.3% 0.18% +0.06
CLB Core Laboratories Inc. Add +13.9% 0.18% +0.05
FLEX Flex Ltd. Add +8.5% 0.71% +0.05
CNR Core Natural Resources Inc. Add +19.0% 0.28% +0.05
UTI Universal Technical Institut New 0.04% +0.04
ORN Orion Group Holdings Inc. Add +6.5% 0.19% +0.03
AA Alcoa Corp. New 0.03% +0.03
DTI Drilling Tools International Add +29.2% 0.10% +0.02
LXU LSB Industries Inc. Add +3.7% 0.32% +0.02
SLND Southland Holdings Inc. Add +52.4% 0.11% +0.01
PSEC Prospect Capital Corp. Add +17.8% 0.17% +0.01
GSM Ferroglobe PLC New 0.01% +0.01
SCL Stepan Co. New 0.01% +0.01
KLXE KLX Energy Services Holding Add +2.3% 0.06% −0.00
OCC Optical Cable Corp. Add +47.4% 0.03% −0.01
INSG Inseego Corp. Add +34.6% 0.08% −0.01
MTRX Matrix Service Co. Add +11.7% 0.22% −0.01
TGEN Tecogen Inc./Waltham Ma Add +21.3% 0.03% −0.01
BXC Bluelinx Holdings Inc. Add +9.1% 0.77% −0.12

Options Activity Q3 2025 → Q4 2025
AVDL Avadel Pharmaceuticals Ltd. call New 1,131,500 $24.4M

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

Notes & Other Activity Q3 2025 → Q4 2025
ASTLW Algoma Steel Group Inc. -CW26 *W EXP 10/19/202 Sold out 93,408 $14Kbefore exit

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

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