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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
-23.04%
1 Year Est. Return
-5.82%
3 Year Est. Return
+14.2%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$76.6M
AUM Growth
-$34.8M
(-31%)
Cap. Flow
-$11.1M
Cap. Flow
% of AUM
-14.53%
Top 10 Holdings %
Top 10 Hldgs %
47.08%
Holding
115
New
41
Increased
15
Reduced
15
Closed
39
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Biglari Holdings Class B
BH
|
+$4.04M |
| 2 |
LKQ Corp
LKQ
|
+$1.63M |
| 3 |
PhenixFIN
PFX
|
+$1.41M |
| 4 |
Apple
AAPL
|
+$1.36M |
| 5 |
Element Solutions
ESI
|
+$1.32M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Stratus Properties
STRS
|
+$5.86M |
| 2 |
CALL
magicJack VocalTec Ltd
CALL
|
+$4.22M |
| 3 |
BVH
Bluegreen Vacations Holding Corporation
BVH
|
+$3.2M |
| 4 |
World Kinect Corp
WKC
|
+$2.96M |
| 5 |
GSB
GlobalSCAPE, Inc.
GSB
|
+$2.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 13.86% |
| 2 | Technology | 13.06% |
| 3 | Financials | 11.79% |
| 4 | Real Estate | 11.52% |
| 5 | Industrials | 10.29% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Biglari Holdings Class B
BH
$1.21B
| $6.11M | 7.98% |
53,785
+27,420
| +104% | +$4.04M |
|
|
BVH
2
DELISTED
Bluegreen Vacations Holding Corporation
BVH
| $5.24M | 6.84% |
182,840
-104,100
| -36% | -$3.2M |
|
|
GSB
3
DELISTED
GlobalSCAPE, Inc.
GSB
| $4.57M | 5.97% |
1,021,000
-675,685
| -40% | -$2.9M |
|
4
Vaalco Energy
EGY
$567M
| $3.63M | 4.74% |
2,471,000
| – | – |
|
|
SPRT
5
DELISTED
support.com, Inc.
SPRT
| $3.2M | 4.18% |
1,301,874
| – | – |
|
|
6
PhenixFIN
PFX
$88.7M
| $3.14M | 4.1% |
59,000
+20,039
| +51% | +$1.41M |
|
7
Acacia Research
ACTG
$439M
| $3.06M | 3.99% |
1,025,000
-193,460
| -16% | -$598K |
|
8
Crawford & Co Class A
CRD.A
$537M
| $2.71M | 3.55% |
305,000
+4,000
| +1% | +$36K |
|
|
9
World Kinect Corp
WKC
$1.87B
| $2.25M | 2.94% |
105,000
-112,500
| -52% | -$2.96M |
|
|
SMTA
10
DELISTED
Spirit MTA REIT Common Shares of Beneficial Interest
SMTA
| $2.14M | 2.8% |
300,500
-10,000
| -3% | -$101K |
|
|
11
Biglari Holdings Class A
BH.A
$1.19B
| $2.12M | 2.77% |
3,610
+280
| +8% | +$217K |
|
|
TST
12
DELISTED
TheStreet, Inc.
TST
| $1.62M | 2.11% |
79,676
+61,750
| +344% | +$1.21M |
|
13
AstroNova
ALOT
$222M
| $1.48M | 1.93% |
78,800
+3,374
| +4% | +$65.7K |
|
|
14
Stratus Properties
STRS
$165M
| $1.44M | 1.88% |
60,000
-212,300
| -78% | -$5.86M |
|
|
15
LKQ Corp
LKQ
$6.47B
| $1.42M | 1.86% |
+60,000
| New | +$1.63M |
|
|
16
Element Solutions
ESI
$9.11B
| $1.24M | 1.62% |
+120,000
| New | +$1.32M |
|
17
Harte-Hanks
HHS
| $1.18M | 1.55% |
489,100
-96,500
| -16% | -$460K |
|
|
18
Apple
AAPL
$4.9T
| $1.1M | 1.44% |
+28,000
| New | +$1.36M |
|
|
SPA
19
DELISTED
Sparton
SPA
| $1.09M | 1.42% |
60,000
-106,000
| -64% | -$1.55M |
|
20
Sempra
SRE
$60.3B
| $1.08M | 1.41% |
+20,000
| New | +$1.14M |
|
|
FNJN
21
DELISTED
Finjan Holdings, Inc.
FNJN
| $1.05M | 1.38% |
420,000
+345,386
| +463% | +$1.15M |
|
22
Apollo Global Management
APO
$69.5B
| $982K | 1.28% |
+40,000
| New | +$1.15M |
|
23
US Foods
USFD
$21.4B
| $949K | 1.24% |
+30,000
| New | +$925K |
|
24
KKR & Co
KKR
$90.6B
| $932K | 1.22% |
+47,500
| New | +$1.09M |
|
|
TPCO
25
DELISTED
Tribune Publishing Company Common Stock
TPCO
| $822K | 1.07% |
72,500
+32,500
| +81% | +$470K |
|
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Fondren Management's Q4 2018 Portfolio in Review
As of Q4 2018, Fondren Management held 115 positions worth $76.6M, down 31% from $111M the previous quarter. Its ten largest holdings account for 47% of the portfolio.
Fondren Management withdrew a net $11.1M in Q4 2018, closing 39 positions and reducing 15 holdings. Its most notable exit was magicJack VocalTec Ltd, an estimated $4.22M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 14% of assets, up from 11% a quarter earlier, followed by Technology and Financials.
Against the trend, Fondren Management opened a new position in LKQ Corp worth $1.42M.
- Fondren Management's largest Q4 2018 buy was LKQ Corp: 60,000 shares worth $1.42M.
- Fondren Management added most to Biglari Holdings Class B in Q4 2018, an estimated $4.04M increase.
- Fondren Management's biggest Q4 2018 reduction was Stratus Properties, cutting an estimated $5.86M.
- Fondren Management fully exited magicJack VocalTec Ltd in Q4 2018, selling an estimated $4.22M.
- Fondren Management's ten largest holdings make up 47% of its $76.6M portfolio in Q4 2018.
- Fondren Management opened 41 new positions and closed 39 in Q4 2018.
- Fondren Management's portfolio value fell 31% quarter-over-quarter to $76.6M.
Based on Fondren Management's 13F filing for Q4 2018, filed 14 Feb 2019.