GENDELL JEFFREY L

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CIK 1056581

13F portfolio (2026-Q1)

$7.3B

Positions

101

Implied 1Y CAGR

modeled · as filed

Long positions in SEC Section 13(f) securities (US-listed stocks, ADRs and ETFs), largest first · Δ vs 2025-Q4. A lagged quarterly snapshot (filed ≤45 days after quarter-end); excludes shorts, options, cash, and shares listed only on non-US exchanges — foreign companies held via a US listing or ADR (e.g. Alibaba, TSMC) ARE included.

Implied return what this book implies · modeled, not advice methodology →

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As filed = each book applied at its quarter-end (what the reported book did) · As copyable = applied at its statutory 45-day filing deadline (what a 13F follower could have earned).

Computing…

Hypothetical modeled performance constructed with hindsight — not actual results, and not indicative of future results. See the Disclaimer.

Exposures · what this manager owns, by sector & size (2026-Q1)

Holdings

101

Top 5

74.6%

Top 10

79.9%

Effective N

2.2

HHI

0.453

This quarter

12 new · 0 exit →

By sector

Industrials71.3%

Information Technology5.9%

Energy5.9%

Unclassified5.1%

Materials4.8%

Financials3.4%

Health Care1.7%

Consumer Discretionary1.4%

Communication Services0.5%

By market cap

Mid ($2–10B)77.1%

Large ($10–200B)8.5%

Small ($300M–2B)6.0%

Unknown5.5%

Mega (>$200B)1.6%

Micro (<$300M)1.3%

By region

North America94.7%

Other5.1%

Middle East0.2%

By industry group GICS — finer than sector

Industry group	Weight	Names
Construction & Engineering	68.82%	5
Unclassified	5.10%	7
Oil, Gas & Consumable Fuels	3.95%	11
Technology Hardware & Equipment	2.76%	6
Semiconductors & Semiconductor Equipment	2.75%	6
Insurance	2.40%	5
Machinery	2.18%	9
Coal & Consumable Fuels	1.96%	3
Construction Materials	1.60%	2
Metals & Mining	1.41%	7
Chemicals	1.00%	4
Banks	0.97%	16
Pharmaceuticals & Biotechnology	0.85%	5
Paper & Forest Products	0.79%	2
Textiles, Apparel & Luxury Goods	0.58%	2
Distributors	0.55%	1
Life Sciences Tools & Services	0.53%	1
Diversified Telecommunication Services	0.45%	1
Health Care Equipment & Supplies	0.36%	1
Aerospace & Defense	0.30%	1
Automobiles & Components	0.23%	2
Communications Equipment	0.23%	2
Electrical Equipment & Components	0.18%	1
Diversified Consumer Services	0.05%	1

Top holdings

#	Ticker	Name	Sector	Weight
1	IESC	IES Holdings, Inc.	Industrials	67.11%
2	IWM	ISHARES TR	Unclassified	3.22%
3	AMR	Alpha Metallurgical Resources, Inc.	Energy	1.52%
4	OC	Owens Corning	Materials	1.39%
5	TPC	TUTOR PERINI CORP	Industrials	1.32%
6	SNDK	Sandisk Corp	Information Technology	1.30%
7	WTM	WHITE MOUNTAINS INSURANCE GROUP LTD	Financials	1.13%
8	RIG	Transocean Ltd.	Energy	1.06%
9	BW	Babcock & Wilcox Enterprises, Inc.	Industrials	1.03%
10	GNW	GENWORTH FINANCIAL INC	Financials	0.85%

94/101 names classified · sector 94.9% of weight · industry 94.9% · mkt cap 94.5%; unclassified names shown, never dropped.

Sector allocation over time · how the GICS mix & top names shifted quarter by quarter

top 5/sector, rest → “Other” · 52 quarters

IndustrialsIESC, AAL, UAL, DAL, OIS · other

FinancialsC, BAC, JPM, COF, DB · other

Consumer DiscretionaryPATK, BXC, WGO, THO, DAN · other

MaterialsLXU, CLF, SKY, FCX, NEM · other

EnergyAMR, BTU, NBR, HAL, SLB · other

Information TechnologyENS, ATKR, SNDK, FSLR, NVDA · other

Health CareXAIR, AVTR, BAX, INDV, BHC · other

Communication ServicesLUMN, NCMI

UtilitiesTLN, NRG, D

UnclassifiedIntegrated Electricl N, KRE, AVADEL PHARMACEUTICALS PLC, BARNES & NOBLE INC, UNITED STATES STL CORP NEW · other

Sector is classified on each name's CURRENT fundamentals, not point-in-time — apparent sector drift can reflect the market re-rating a holding, not a manager trade. 13F is a lagged quarterly snapshot of long positions in US-listed securities only — foreign companies held via a US listing or ADR ARE included, but shares listed only on non-US exchanges (plus shorts, options and cash) are not. Latest quarter: 94.9% of the book is sector-classified (unclassified names shown, never dropped).

Style box · size × value-growth placement of the reported book (2026-Q1), classified on current fundamentals (not point-in-time) — load it into PORT to overlay your own portfolio

holdings, colored by sector (73 classified)GENDELL JEFFREY L centroid (Small Growth)

IndustrialsMaterialsEnergyInformation TechnologyFinancialsConsumer DiscretionaryHealth CareCommunication Services

Style box summary for GENDELL JEFFREY L: centroid Small Growth. Heaviest cells: Small Growth 71.0%, Small Value 6.3%, Small Core 5.4%.

Classified: 89.4% of book weight (73/100 names) · unclassified 10.6%: IWM, SNDK, RIG, BW, OIH, AVTR, XBI, FCG, ATKR, MTRX +17 more. Size: cap 70/20/10 bands; style: value/growth composite on our own metrics — not Morningstar's model.

Contribution holdings-based, any period

No contribution data for this period.

Holdings· 101 positions (2026-Q1) · largest first · Δ vs 2025-Q4

#	Security	Shares	Value	Weight	Δ QoQ
1	IESCIES HLDGS INC	10,340,248	$4.9B	67.1%	HOLD
2	IWMISHARES TR	954,068	$237M	3.2%	NEW
3	AMRALPHA METALLURGICAL RESOUR I	544,148	$112M	1.5%	ADD 10%
4	OCOWENS CORNING NEW	940,522	$102M	1.4%	ADD 2%
5	TPCTUTOR PERINI CORP	1,250,727	$97M	1.3%	ADD 41%
6	SNDKSANDISK CORP	150,000	$95M	1.3%	TRIM −9%
7	WTMWHITE MTNS INS GROUP LTD	37,814	$83M	1.1%	ADD 16%
8	RIGTRANSOCEAN LTD	11,700,000	$78M	1.1%	ADD 8%
9	BWBABCOCK & WILCOX ENTERPRISES	5,126,068	$75M	1.0%	HOLD
10	GNWGENWORTH FINL INC	7,698,913	$63M	0.9%	ADD 19%
11	OIHVANECK ETF TRUST	150,000	$61M	0.8%	ADD 2%
12	GLWCORNING INC	400,900	$55M	0.7%	ADD 33%
13	WDCWESTERN DIGITAL CORP	200,009	$54M	0.7%	TRIM −5%
14	MUMICRON TECHNOLOGY INC	140,000	$47M	0.6%	TRIM −2%
15	SLBSCHLUMBERGER LTD	900,000	$46M	0.6%	ADD 3%
16	APHAMPHENOL CORP	360,500	$46M	0.6%	NEW
17	MHKMOHAWK INDS INC	425,347	$42M	0.6%	TRIM −5%
18	AMDADVANCED MICRO DEVICES INC	200,000	$41M	0.6%	ADD 90%
19	BXCBLUELINX HLDGS INC	739,523	$40M	0.5%	ADD 3%
20	AVTRAVANTOR INC	4,917,270	$39M	0.5%	ADD 802%
21	HALHALLIBURTON CO	977,489	$38M	0.5%	ADD 6%
22	UFPIUFP INDUSTRIES INC	375,698	$35M	0.5%	ADD 10%
23	XBISPDR SERIES TRUST	262,278	$34M	0.5%	HOLD
24	INDVINDIVIOR PHARMACEUTICALS INC COM	1,096,343	$33M	0.5%	NEW
25	LUMNLUMEN TECHNOLOGIES INC	4,761,216	$33M	0.5%	HOLD
26	NBRNABORS INDUSTRIES LTD	342,799	$30M	0.4%	HOLD
27	ONON SEMICONDUCTOR CORP	470,000	$29M	0.4%	NEW
28	FCGFIRST TR EXCHANGE-TRADED FD	900,000	$29M	0.4%	TRIM −5%
29	BAXBAXTER INTL INC	1,564,543	$26M	0.4%	ADD 251%
30	FLEXFlextronics Internat'l. Ltd.	400,000	$26M	0.4%	TRIM −41%
31	FMCF M C CORP	1,395,000	$24M	0.3%	ADD 55%
32	TTITETRA TECHNOLOGIES INC DEL	2,776,088	$24M	0.3%	TRIM −4%
33	SKYCHAMPION HOMES INC	317,097	$24M	0.3%	HOLD
34	ATKRATKORE INC	400,214	$24M	0.3%	ADD 3%
35	FTITECHNIPFMC PLC	320,000	$22M	0.3%	HOLD
36	BABOEING CO	110,000	$22M	0.3%	ADD 34%
37	LBRTLIBERTY ENERGY INC	750,000	$22M	0.3%	TRIM −3%
38	IOSPINNOSPEC INC	294,504	$22M	0.3%	ADD 3%
39	EQTEQT CORP	320,000	$20M	0.3%	TRIM −9%
40	AGOASSURED GUARANTY LTD	245,422	$20M	0.3%	NEW
41	GTGOODYEAR TIRE & RUBR CO	2,960,011	$20M	0.3%	ADD 261%
42	AAPLAPPLE INC	70,000	$18M	0.2%	ADD 100%
43	NOVNOV INC	240,330	$17M	0.2%	TRIM −29%
44	AAAlcoa Upstream Corp.	253,088	$17M	0.2%	ADD 658%
45	BTUPEABODY ENERGY CORP	506,614	$17M	0.2%	HOLD
46	BHCBAUSCH HEALTH COS INC	2,969,840	$16M	0.2%	ADD 129%
47	SNDSMART SAND INC	3,126,915	$16M	0.2%	HOLD
48	CNRCORE NATURAL RESOURCES INC	150,000	$16M	0.2%	TRIM −17%
49	MTRXMATRIX SVC CO	1,231,307	$14M	0.2%	ADD 16%
50	SXCSUNCOKE ENERGY INC	2,077,114	$14M	0.2%	ADD 41%
51	TSEMTOWER SEMICONDUCTOR LTD	75,000	$13M	0.2%	HOLD
52	GEVGE VERNOVA INC	15,000	$13M	0.2%	NEW
53	ORNORION GROUP HLDGS INC	1,104,300	$12M	0.2%	HOLD
54	CMICUMMINS INC	22,240	$12M	0.2%	HOLD
55	VISNCOMMSCOPE HLDG CO INC	655,000	$12M	0.2%	NEW
56	PATKPATRICK INDS INC	105,088	$12M	0.2%	HOLD
57	WTTRSELECT WATER SOLUTIONS INC	715,269	$11M	0.1%	ADD 31%
58	CLBCORE LABORATORIES INC	648,460	$11M	0.1%	HOLD
59	PSECPROSPECT CAP CORP	4,009,902	$10M	0.1%	ADD 8%
60	DTIDRILLING TOOLS INTL CORP	2,409,059	$10M	0.1%	HOLD
61	MTRNMATERION CORP	71,296	$10M	0.1%	HOLD
62	RBCAAREPUBLIC BANCORP INC KY	142,916	$10M	0.1%	HOLD
63	ALKSALKERMES PLC	263,604	$9M	0.1%	NEW
64	INVXINNOVEX INTERNATIONAL INC	356,460	$9M	0.1%	TRIM −9%
65	PEBKPEOPLES BANCORP N C INC	217,763	$9M	0.1%	HOLD
66	SCLSTEPAN CO	165,520	$8M	0.1%	ADD 1722%
67	COHRCOHERENT CORP	27,627	$7M	0.1%	HOLD
68	OSGOCTAVE SPECIALTY GROUP INC	1,413,212	$7M	0.1%	TRIM −10%
69	FUNCFIRST UTD CORP	178,352	$7M	0.1%	HOLD
70	NINENINE ENERGY SERVICE, INC.	784,501	$6M	0.1%	NEW
71	FRDFRIEDMAN INDS INC	354,576	$6M	0.1%	HOLD
72	FUSBFIRST US BANCSHARES INC	397,454	$6M	0.1%	HOLD
73	ASRVAMERISERV FINL INC	1,635,677	$6M	0.1%	HOLD
74	FMBHFirst Mid Ill Bankshares, Inc.	137,473	$6M	0.1%	HOLD
75	ENSENERSYS	32,186	$6M	0.1%	NEW
76	ALRSALERUS FINL CORP	233,700	$6M	0.1%	HOLD
77	BOOMDMC GLOBAL INC	1,002,790	$5M	0.1%	ADD 11%
78	WGOWINNEBAGO INDS INC	163,684	$5M	0.1%	TRIM −4%
79	CZWICITIZENS CMNTY BANCORP INC M	248,319	$5M	0.1%	HOLD
80	INSGINSEEGO CORP	429,301	$5M	0.1%	HOLD
81	KLXEKLX ENERGY SERVICS HOLDNGS I	1,771,108	$5M	0.1%	HOLD
82	COFSCHOICEONE FINL SVCS INC	148,548	$4M	0.1%	HOLD
83	PSCEINVESCO EXCH TRADED FD TR II	68,469	$4M	0.1%	HOLD
84	HUMHUMANA INC	24,057	$4M	0.1%	TRIM −33%
85	GSMFERROGLOBE PLC	912,323	$4M	0.1%	ADD 831%
86	MPBMID PENN BANCORP INC	108,271	$3M	0.0%	NEW
87	OISOIL STS INTL INC	298,317	$3M	0.0%	TRIM −81%
88	OCCOPTICAL CABLE CORP	417,440	$3M	0.0%	HOLD
89	UTIUNIVERSAL TECHNICAL INST INC	91,585	$3M	0.0%	HOLD
90	ALKSALKERMES PLC	87,869	$3M	0.0%	NEW
91	SLNDSOUTHLAND HLDGS INC	2,280,257	$3M	0.0%	ADD 20%
92	CACCAMDEN NATL CORP	61,269	$3M	0.0%	HOLD
93	BVFLBV FINL INC	141,262	$3M	0.0%	HOLD
94	SHBISHORE BANCSHARES INC	136,840	$3M	0.0%	HOLD
95	SBFGSB FINL GROUP INC	46,286	$972,006	0.0%	HOLD
96	BRBSBLUE RIDGE BANKSHARES INC VA	214,608	$901,354	0.0%	HOLD
97	FRBAFIRST BK WILLIAMSTOWN NEW JE	48,939	$783,024	0.0%	HOLD
98	TGENTECOGEN INC NEW	245,541	$628,585	0.0%	TRIM −17%
99	TILEINTERFACE INC	25,000	$623,000	0.0%	HOLD
100	FENCFENNEC PHARMACEUTICALS INC	83,024	$510,597	0.0%	TRIM −41%
101	CIVBCIVISTA BANCSHARES INC	10,000	$227,900	0.0%	HOLD

Position trends· top 15 holdings · shares held over 6 quarters

green added · red trimmed

Security

2024-Q4

2025-Q1

2025-Q2

2025-Q3

2025-Q4

2026-Q1

Latest value

IESCIES HLDGS INC

10.7M

10.5M

10.3M

$4.9B

IWMISHARES TR

288K

—

170K

99K

—

954K

$237M

AMRALPHA METALLURGICAL RESOUR I

361K

226K

296K

475K

494K

544K

$112M

OCOWENS CORNING NEW

—

149K

205K

922K

941K

$102M

TPCTUTOR PERINI CORP

—

456K

890K

1.3M

$97M

SNDKSANDISK CORP

—

35K

165K

315K

165K

150K

$95M

WTMWHITE MTNS INS GROUP LTD

—

33K

38K

$83M

RIGTRANSOCEAN LTD

12.5M

4.5M

1.4M

8.0M

10.8M

11.7M

$78M

BWBABCOCK & WILCOX ENTERPRISES

1.2M

1.7M

2.6M

4.8M

5.0M

5.1M

$75M

GNWGENWORTH FINL INC

—

2.4M

6.5M

7.7M

$63M

OIHVANECK ETF TRUST

255K

100K

135K

81K

147K

150K

$61M

GLWCORNING INC

—

20K

120K

301K

401K

$55M

WDCWESTERN DIGITAL CORP

293K

45K

95K

240K

210K

200K

$54M

MUMICRON TECHNOLOGY INC

67K

77K

167K

217K

143K

140K

$47M

SLBSCHLUMBERGER LTD

413K

396K

450K

650K

870K

900K

$46M

Shares reported each quarter by the largest current holdings. Green = added vs the prior filing of that name, red = trimmed, grey = roughly held; a dash is a quarter with no 13F on file (a gap is skipped, not read as an exit). 13F is filed up to 45 days after quarter-end. Up to 40 quarters (10 years) available — use the selector above.

☆GENDELL JEFFREY L