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FM

Fondren Management Portfolio holdings

AUM $16.9M Turnover 36%
1-Year Est. Return 5.82%
This Fund
S&P 500
This Quarter Est. Return
+11.41%
1 Year Est. Return
-5.82%
3 Year Est. Return
+14.2%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$16.9M
AUM Growth
-$8.94M
Cap. Flow
-$10.2M
Cap. Flow %
-60.23%
Top 10 Hldgs %
92.77%
Holding
25
New
–
Increased
4
Reduced
9
Closed
9
Avg Time Held
1.7 years
Top 10 Avg Time Held
0.7 years
Top 20 Avg Time Held
0.9 years

Top Buys

Rank Stock Value
1
LSAK icon
Lesaka Technologies
LSAK
+$1.06M
2
BVH
Bluegreen Vacations Holding Corporation
BVH
+$87.5K
3
HWCC
Houston Wire & Cable Company
HWCC
+$26.3K
4
PFX icon
PhenixFIN
PFX
+$2.91K

Top Sells

Rank Stock Value
1
IMMR icon
Immersion
IMMR
+$3.4M
2
BH icon
Biglari Holdings Class B
BH
+$1.9M
3
HHS icon
Harte-Hanks
HHS
+$1.66M
4
SYNC
Synacor, Inc.
SYNC
+$677K
5
TTI icon
TETRA Technologies
TTI
+$612K

Sector Composition

Rank Sector Weight
1 Technology 26.67%
2 Consumer Discretionary 23.24%
3 Energy 15.8%
4 Communication Services 10.82%
5 Financials 9.53%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
BH icon
1
Biglari Holdings Class B
BH
$1.43B
$3.94M 23.24%
44,221
-23,200
-34% -$1.9M
2018 Q2
9 quarters
EGY icon
2
Vaalco Energy
EGY
$667M
$2.47M 14.59%
2,471,000
– –
2016 Q4
15 quarters
SPRT
3
DELISTED
support.com, Inc.
SPRT
$2.34M 13.84%
1,301,874
– –
2016 Q4
15 quarters
LSAK icon
4
Lesaka Technologies
LSAK
$374M
$2.17M 12.84%
645,000
+330,000
+105% +$1.06M
2019 Q1
6 quarters
SYNC
5
DELISTED
Synacor, Inc.
SYNC
$1.83M 10.82%
1,213,447
-556,553
-31% -$677K
2019 Q3
4 quarters
OPNT
6
DELISTED
Opiant Pharmaceuticals, Inc. Common Stock
OPNT
$1.02M 6.05%
137,000
-49,900
-27% -$443K
2019 Q1
6 quarters
PFX icon
7
PhenixFIN
PFX
$85M
$892K 5.27%
50,000
+189
+0.4% +$2.91K
2018 Q3
8 quarters
BVH
8
DELISTED
Bluegreen Vacations Holding Corporation
BVH
$536K 3.17%
40,000
+6,000
+18% +$87.5K
2020 Q2
1 quarter
CRD.B icon
9
Crawford & Co Class B
CRD.B
$562M
$251K 1.48%
38,900
-20,575
-35% -$146K
2020 Q1
2 quarters
HWCC
10
DELISTED
Houston Wire & Cable Company
HWCC
$250K 1.48%
100,000
+10,000
+11% +$26.3K
2019 Q3
4 quarters
BCIC icon
11
BCP Investment Corp
BCIC
$80.2M
$238K 1.41%
17,910
– –
2019 Q4
3 quarters
CRD.A icon
12
Crawford & Co Class A
CRD.A
$582M
$232K 1.37%
35,500
-7,170
-17% -$53K
2016 Q4
15 quarters
TGA
13
DELISTED
Transglobe Energy Corp
TGA
$204K 1.2%
535,500
-1,032,067
-66% -$558K
2019 Q1
6 quarters
ACNT icon
14
Ascent Industries
ACNT
$122M
$202K 1.19%
36,556
-8,444
-19% -$57.2K
2020 Q2
1 quarter
RMCF icon
15
Rocky Mountain Chocolate Factory
RMCF
$8.81M
$175K 1.03%
65,462
-7,138
-10% -$24.3K
2018 Q4
7 quarters
USAP icon
16
DELISTED
Universal Stainless & Alloy
USAP
$173K 1.02%
31,523
-8,827
-22% -$62.9K
2019 Q2
5 quarters
ALOT icon
17
DELISTED
AstroNova
ALOT
– –
-30,000
Closed -$239K –
BH.A icon
18
Biglari Holdings Class A
BH.A
$1.39B
– –
-1,510
Closed -$506K –
HHS icon
19
Harte-Hanks
HHS
$32.5M
– –
-545,502
Closed -$1.66M –
HQI icon
20
HireQuest
HQI
$241M
– –
-45,416
Closed -$281K –
IMMR icon
21
Immersion
IMMR
$235M
– –
-545,000
Closed -$3.4M –
TTI icon
22
TETRA Technologies
TTI
$776M
– –
-1,145,000
Closed -$612K –
VATE icon
23
INNOVATE Corp
VATE
$81.2M
– –
-12,500
Closed -$418K –
LUB
24
DELISTED
Luby's Inc.
LUB
– –
-63,422
Closed -$92K –
CSLT
25
DELISTED
CASTLIGHT HEALTH, INC.
CSLT
– –
-300,000
Closed -$249K –

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Fondren Management's Q3 2020 Portfolio in Review

As of Q3 2020, Fondren Management held 25 positions worth $16.9M, down 35% from $25.9M the previous quarter. Its ten largest holdings account for 93% of the portfolio.

Fondren Management withdrew a net $10.2M in Q3 2020, closing 9 positions and reducing 9 holdings. Its most notable exit was Immersion, an estimated $3.4M position sold in full.

By sector, the portfolio is most concentrated in Technology at 27% of assets, up from 26% a quarter earlier, followed by Consumer Discretionary and Energy.

Against the trend, Fondren Management added an estimated $1.06M to Lesaka Technologies.

  • Fondren Management added most to Lesaka Technologies in Q3 2020, an estimated $1.06M increase.
  • Fondren Management's biggest Q3 2020 reduction was Biglari Holdings Class B, cutting an estimated $1.9M.
  • Fondren Management fully exited Immersion in Q3 2020, selling an estimated $3.4M.
  • Fondren Management's ten largest holdings make up 93% of its $16.9M portfolio in Q3 2020.
  • Fondren Management opened 0 new positions and closed 9 in Q3 2020.
  • Fondren Management's portfolio value fell 35% quarter-over-quarter to $16.9M.

Based on Fondren Management's 13F filing for Q3 2020, filed 13 Nov 2020.