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Bandera Partners LLC

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13F filer, CIK 1399386, Brooklyn, NY

Bandera Partners LLC reported $228,129,575 across 13 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-11-12. Its ten largest share positions make up 92.24% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0000921895-25-002977

Period
2025-09-30
Reported value
$228M
Holdings
13
Top 10 weight
92.24%
New
0
Sold out
1

Largest buys vs the previous quarter

None.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
DYAIexited-1,383,308-$1.37M
BURreduced-83,122-$994K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q3 2025

Share positions as resolved from 13F-HR 0000921895-25-002977, largest first. % of portfolio is the value over $228,129,575, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
JYNTJOINT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,937,296 shares; 2024Q4: 3,937,296 shares; 2025Q1: 3,937,296 shares; 2025Q2: 3,937,296 shares; 2025Q3: 3,937,296 shares 3,937,296$37.6M16.47%0Timeline
SGUSTAR GROUP LPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,445,360 shares; 2024Q4: 3,445,360 shares; 2025Q1: 3,445,360 shares; 2025Q2: 2,745,360 shares; 2025Q3: 2,745,360 shares 2,745,360$32.5M14.24%0Timeline
BURBURFORD CAPITAL LIMITEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,767,114 shares; 2024Q4: 1,767,114 shares; 2025Q1: 1,767,114 shares; 2025Q2: 2,510,883 shares; 2025Q3: 2,427,761 shares 2,427,761$29M12.73%-83,122Timeline
AMKRAMKOR TECHNOLOGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 304,853 shares; 2024Q4: 304,853 shares; 2025Q1: 304,853 shares; 2025Q2: 773,493 shares; 2025Q3: 773,493 shares 773,493$22M9.63%0Timeline
GOOGLALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 116,300 shares; 2024Q4: 116,300 shares; 2025Q1: 116,300 shares; 2025Q2: 89,322 shares; 2025Q3: 89,322 shares 89,322$21.7M9.52%0Timeline
SKYWSKYWEST INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 87,760 shares; 2024Q4: 87,760 shares; 2025Q1: 209,000 shares; 2025Q2: 179,107 shares; 2025Q3: 179,107 shares 179,107$18M7.9%0Timeline
AMRCAMERESCO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 326,098 shares; 2024Q4: 326,098 shares; 2025Q1: 734,355 shares; 2025Q2: 526,769 shares; 2025Q3: 526,769 shares 526,769$17.7M7.75%0Timeline
NNINELNET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 127,000 shares; 2024Q4: 127,000 shares; 2025Q1: 127,000 shares; 2025Q2: 102,389 shares; 2025Q3: 102,389 shares 102,389$12.8M5.63%0Timeline
AIOTPOWERFLEET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,864,317 shares; 2024Q4: 1,864,317 shares; 2025Q1: 1,864,317 shares; 2025Q2: 1,881,666 shares; 2025Q3: 1,881,666 shares 1,881,666$9.86M4.32%0Timeline
RRGBRED ROBIN GOURMET BURGERS INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 229,598 shares; 2025Q1: 850,000 shares; 2025Q2: 1,350,000 shares; 2025Q3: 1,350,000 shares 1,350,000$9.26M4.06%0Timeline
TLFTANDY LEATHER FACTORY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,857,936 shares; 2024Q4: 2,857,936 shares; 2025Q1: 2,857,936 shares; 2025Q2: 2,857,936 shares; 2025Q3: 2,857,936 shares 2,857,936$8.57M3.76%0Timeline
BTMDBIOTE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,435,635 shares; 2024Q4: 2,435,635 shares; 2025Q1: 2,435,635 shares; 2025Q2: 2,283,791 shares; 2025Q3: 2,283,791 shares 2,283,791$6.85M3%0Timeline
HQIHIREQUEST INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 251,847 shares; 2024Q4: 251,847 shares; 2025Q1: 251,847 shares; 2025Q2: 236,847 shares; 2025Q3: 236,847 shares 236,847$2.28M1%0Timeline

Sold out in Q3 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
DYAIDYADIC INTL INC DEL1,383,308$1.37Mshares

How Q3 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0000921895-25-002977 base2025-11-12acceptance time not in the bulk data set