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FM
Fondren Management Portfolio holdings
AUM
$16.9M
1-Year Est. Return
5.82%
This Fund
S&P 500
This Quarter
Est. Return
-1.07%
1 Year Est. Return
-5.82%
3 Year Est. Return
+14.2%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$111M
AUM Growth
-$19.2M
(-15%)
Cap. Flow
-$10.4M
Cap. Flow
% of AUM
-9.33%
Top 10 Holdings %
Top 10 Hldgs %
53.34%
Holding
106
New
31
Increased
14
Reduced
16
Closed
32
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
BVH
Bluegreen Vacations Holding Corporation
BVH
|
+$3.12M |
| 2 |
PhenixFIN
PFX
|
+$2.87M |
| 3 |
CNR
Cornerstone Building Brands, Inc.
CNR
|
+$1.83M |
| 4 |
PDF Solutions
PDFS
|
+$1.64M |
| 5 |
WRD
WildHorse Resource Development
WRD
|
+$1.61M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
DigitalBridge
DBRG
|
+$3M |
| 2 |
World Kinect Corp
WKC
|
+$2.5M |
| 3 |
SMTA
Spirit MTA REIT Common Shares of Beneficial Interest
SMTA
|
+$2.5M |
| 4 |
Sinclair Inc
SBGI
|
+$2.25M |
| 5 |
JMBA
Jamba, Inc.
JMBA
|
+$2.13M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Real Estate | 21.85% |
| 2 | Energy | 16.63% |
| 3 | Industrials | 12.53% |
| 4 | Consumer Discretionary | 10.68% |
| 5 | Technology | 9.57% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
BVH
1
DELISTED
Bluegreen Vacations Holding Corporation
BVH
| $10.6M | 9.56% |
286,940
+78,000
| +37% | +$3.12M |
|
2
Stratus Properties
STRS
$165M
| $8.33M | 7.48% |
272,300
+6,800
| +3% | +$208K |
|
|
GSB
3
DELISTED
GlobalSCAPE, Inc.
GSB
| $6.8M | 6.11% |
1,696,685
-81,386
| -5% | -$311K |
|
4
Vaalco Energy
EGY
$567M
| $6.75M | 6.06% |
2,471,000
| – | – |
|
|
5
World Kinect Corp
WKC
$1.87B
| $6.02M | 5.41% |
217,500
-97,500
| -31% | -$2.5M |
|
6
Biglari Holdings Class B
BH
$1.21B
| $4.78M | 4.29% |
26,365
+3,990
| +18% | +$764K |
|
|
CALL
7
DELISTED
magicJack VocalTec Ltd
CALL
| $4.22M | 3.79% |
505,000
| – | – |
|
8
Harte-Hanks
HHS
| $4.17M | 3.75% |
585,600
+1,500
| +0.3% | +$13.2K |
|
9
Acacia Research
ACTG
$439M
| $3.9M | 3.5% |
1,218,460
| – | – |
|
|
SPRT
10
DELISTED
support.com, Inc.
SPRT
| $3.77M | 3.39% |
1,301,874
| – | – |
|
|
SMTA
11
DELISTED
Spirit MTA REIT Common Shares of Beneficial Interest
SMTA
| $3.58M | 3.21% |
310,500
-235,000
| -43% | -$2.5M |
|
|
12
Biglari Holdings Class A
BH.A
$1.19B
| $3.07M | 2.76% |
3,330
+1,380
| +71% | +$1.32M |
|
|
13
PhenixFIN
PFX
$88.7M
| $2.98M | 2.67% |
+38,961
| New | +$2.87M |
|
14
Crawford & Co Class A
CRD.A
$537M
| $2.71M | 2.43% |
301,000
+3,766
| +1% | +$32.3K |
|
15
Magnolia Oil & Gas
MGY
$5.04B
| $2.55M | 2.29% |
170,000
-110,000
| -39% | -$1.44M |
|
|
SPA
16
DELISTED
Sparton
SPA
| $2.4M | 2.15% |
166,000
+41,000
| +33% | +$595K |
|
|
WRD
17
DELISTED
WildHorse Resource Development
WRD
| $1.77M | 1.59% |
+75,000
| New | +$1.61M |
|
|
CNR
18
DELISTED
Cornerstone Building Brands, Inc.
CNR
| $1.67M | 1.5% |
+110,000
| New | +$1.83M |
|
19
AstroNova
ALOT
$222M
| $1.63M | 1.46% |
75,426
+54,426
| +259% | +$1.09M |
|
|
20
PDF Solutions
PDFS
$2.14B
| $1.47M | 1.32% |
+162,500
| New | +$1.64M |
|
|
VOLT
21
DELISTED
Volt Information Sciences, Inc.
VOLT
| $1.17M | 1.05% |
303,697
-43,303
| -12% | -$156K |
|
|
SPLP
22
DELISTED
STEEL PARTNERS HOLDINGS L.P.
SPLP
| $1.17M | 1.05% |
69,967
+17,018
| +32% | +$285K |
|
|
FRSH
23
DELISTED
Papa Murphy's Holdings, Inc
FRSH
| $1.05M | 0.94% |
202,000
| – | – |
|
|
NTRI
24
DELISTED
NutriSystem, Inc.
NTRI
| $926K | 0.83% |
25,000
-5,000
| -17% | -$193K |
|
|
OHAI
25
DELISTED
OHA Investment Corporation
OHAI
| $915K | 0.82% |
600,000
| – | – |
|
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Fondren Management's Q3 2018 Portfolio in Review
As of Q3 2018, Fondren Management held 106 positions worth $111M, down 15% from $131M the previous quarter. Its ten largest holdings account for 53% of the portfolio.
Fondren Management withdrew a net $10.4M in Q3 2018, closing 32 positions and reducing 16 holdings. Its most notable exit was DigitalBridge, an estimated $3M position sold in full.
By sector, the portfolio is most concentrated in Real Estate at 22% of assets, up from 19% a quarter earlier, followed by Energy and Industrials.
Against the trend, Fondren Management opened a new position in PhenixFIN worth $2.98M.
- Fondren Management's largest Q3 2018 buy was PhenixFIN: 38,961 shares worth $2.98M.
- Fondren Management added most to Bluegreen Vacations Holding Corporation in Q3 2018, an estimated $3.12M increase.
- Fondren Management's biggest Q3 2018 reduction was World Kinect Corp, cutting an estimated $2.5M.
- Fondren Management fully exited DigitalBridge in Q3 2018, selling an estimated $3M.
- Fondren Management's ten largest holdings make up 53% of its $111M portfolio in Q3 2018.
- Fondren Management opened 31 new positions and closed 32 in Q3 2018.
- Fondren Management's portfolio value fell 15% quarter-over-quarter to $111M.
Based on Fondren Management's 13F filing for Q3 2018, filed 14 Nov 2018.