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VOL. XII · NO. 117Established MMXIV · George Town, Grand CaymanAtlantic Edition · $4.50

The Cayman Journal

Finance · Business · Technology · Caribbean & Global Affairs
13F COMBINATION REPORT

GENDELL JEFFREY L

Quarter ended Q1 2025 · Filed May 15, 2025 · Accession 0001214659-25-007856

Total Value
$2.32B
Positions
116
Other Managers
3
Confidential Omitted
No
View on SEC.gov

Holdings (116)

#IssuerTicker / CUSIPSharesValue% of Filing
1IES HOLDINGS INCIESC5,614,644$927.0M40.02%
2IES HOLDINGS INCIESC4,107,859$678.2M29.28%
3IES HOLDINGS INCIESC995,465$164.4M7.10%
4BLUELINX HOLDINGS INCBXC418,187$31.4M1.35%
5AVADEL PHARMACEUTICALSG296871033,838,603$30.1M1.30%
6ALPHA METALLURGICAL RESOURCE020764106205,472$25.7M1.11%
7AVADEL PHARMACEUTICALSG296871032,288,553$17.9M0.77%
8HALLIBURTON COHAL615,863$15.6M0.67%
9VANECK OIL SERVICES ETF92189H60753,000$13.9M0.60%
10PEABODY ENERGY CORPBTU967,484$13.1M0.57%
11VANECK OIL SERVICES ETF92189H60747,317$12.4M0.54%
12TETRA TECHNOLOGIES INC88162F1053,607,594$12.1M0.52%
13LSB INDUSTRIES INC5021601041,755,954$11.6M0.50%
14TRANSOCEAN LTDRIG3,435,978$10.9M0.47%
15SCHLUMBERGER LTDSLB255,676$10.7M0.46%
16NABORS INDUSTRIES LTDNBRWF255,741$10.7M0.46%
17MOHAWK INDUSTRIES INC60819010482,038$9.4M0.40%
18REPUBLIC BANCORP INC-CLASS ARBCAA146,709$9.4M0.40%
19PATRICK INDUSTRIES INC703343103105,088$8.9M0.38%
20SELECT WATER SOLUTIONS INCWTTR831,195$8.7M0.38%
21ATKORE INCATKR135,739$8.1M0.35%
22IF BANCORP INC44951J105319,181$7.7M0.33%
23MOHAWK INDUSTRIES INC60819010465,418$7.5M0.32%
24OIL STATES INTERNATIONAL INC6780261051,426,609$7.3M0.32%
25INNOSPEC INCIOSP77,247$7.3M0.32%
26ALERUS FINANCIAL CORP01446U103389,794$7.2M0.31%
27LIBERTY ENERGY INCLBRT441,476$7.0M0.30%
28SPDR S&P REGIONAL BANKING78464A698120,000$6.8M0.29%
29CHOICEONE FINANCIAL SVCS INC170386106231,780$6.7M0.29%
30ISHARES RUSSELL 2000 VALUE E46428763043,438$6.6M0.28%
31FRIEDMAN INDUSTRIES358435105431,372$6.4M0.28%
32LSB INDUSTRIES INC502160104946,937$6.2M0.27%
33FIRST TRUST NATURAL GAS ETF33733E807239,376$5.9M0.26%
34PEOPLES BANCORP OF NCPEBO217,763$5.9M0.26%
35EQT CORPEQT110,000$5.9M0.25%
36SCHLUMBERGER LTDSLB140,000$5.9M0.25%
37MICRON TECHNOLOGY INCMU67,000$5.8M0.25%
38FIRST UNITED CORP33741H107178,352$5.4M0.23%
39PEABODY ENERGY CORPBTU381,835$5.2M0.22%
40KLX ENERGY SERVICES HOLDING48253L2051,445,327$5.1M0.22%
41CAMDEN NATIONAL CORP133034108121,107$4.9M0.21%
42BLUELINX HOLDINGS INCBXC64,640$4.8M0.21%
43FIRST US BANCSHARES INCFUSB362,440$4.8M0.21%
44FIRST MID BANCSHARES INC320866106137,473$4.8M0.21%
45MATRIX SERVICE CO576853105382,118$4.7M0.21%
46CITIGROUP INCC-PR65,000$4.6M0.20%
47SMART SAND INCSND1,727,072$4.5M0.19%
48CORE NATURAL RESOURCES INCCNR57,323$4.4M0.19%
49NABORS INDUSTRIES LTDNBRWF98,922$4.1M0.18%
50AMERISERV FINANCIAL INC03074A1021,635,677$4.0M0.17%
51INDIVIOR PLCINDV405,933$3.9M0.17%
52SHORE BANCSHARES INCSHBI283,410$3.8M0.17%
53ATKORE INCATKR63,761$3.8M0.17%
54AMBAC FINANCIAL GROUP INCOSG435,055$3.8M0.16%
55CORE LABORATORIES INCCLB249,528$3.7M0.16%
56CITIZENS COMMUNITY BANCORP ICIA250,937$3.6M0.16%
57TRANSOCEAN LTDRIG1,098,463$3.5M0.15%
58FIRST TRUST NATURAL GAS ETF33733E807140,000$3.5M0.15%
59INTERFACE INCTILE168,713$3.3M0.14%
60INVESCO S&P SMALLCAP ENERGYIVZ78,869$3.3M0.14%
61ENERGY SELECT SECTOR SPDR81369Y50635,000$3.3M0.14%
62SPDR S&P BIOTECH ETF78464A87038,846$3.2M0.14%
63CORE LABORATORIES INCCLB207,468$3.1M0.13%
64ORION GROUP HOLDINGS INCORN583,031$3.0M0.13%
65ODP CORP/THE88337F105203,323$2.9M0.13%
66HELMERICH & PAYNEHP110,000$2.9M0.12%
67DRILLING TOOLS INTERNATIONAL26205E1071,169,870$2.8M0.12%
68MATRIX SERVICE CO576853105215,000$2.7M0.12%
69ALPHA METALLURGICAL RESOURCE02076410620,974$2.6M0.11%
70NINE ENERGY SERVICE INCNINE2,282,710$2.6M0.11%
71SUNCOKE ENERGY INCSXC272,591$2.5M0.11%
72SEADRILL LIMITEDSDRL99,568$2.5M0.11%
73ODP CORP/THE88337F105162,685$2.3M0.10%
74LUMEN TECHNOLOGIES INCLUMN550,000$2.2M0.09%
75BV FINANCIAL INC05603E208141,262$2.2M0.09%
76NINE ENERGY SERVICE INCNINE1,901,334$2.1M0.09%
77NOV INCNOV140,499$2.1M0.09%
78ADVANCED MICRO DEVICESAMD20,578$2.1M0.09%
79SOUTHLAND HOLDINGS INCSLND-WT694,766$2.1M0.09%
80TETRA TECHNOLOGIES INC88162F105577,839$1.9M0.08%
81INDIVIOR PLCINDV200,548$1.9M0.08%
82EQT CORPEQT35,000$1.9M0.08%
83NOV INCNOV118,676$1.8M0.08%
84TOWER SEMICONDUCTOR LTDTSEM46,000$1.6M0.07%
85HELMERICH & PAYNEHP57,795$1.5M0.07%
86AMBAC FINANCIAL GROUP INCOSG167,231$1.5M0.06%
87SANDISK CORPSNDK30,000$1.4M0.06%
88COHERENT CORPCOHR21,435$1.4M0.06%
89OIL STATES INTERNATIONAL INC678026105250,000$1.3M0.06%
90WESTERN DIGITAL CORPWDC30,000$1.2M0.05%
91TOWER SEMICONDUCTOR LTDTSEM27,099$966,3500.04%
92SB FINANCIAL GROUP INC78408D10546,286$963,6750.04%
93CORE MOLDING TECHNOLOGIES INCMT61,266$931,2430.04%
94BLUE RIDGE BANKSHARES INCBRBS280,973$915,9720.04%
95CORNING INCGLW20,000$915,6000.04%
96QXO INCQXO-PB65,313$884,3380.04%
97BORR DRILLING LTDBORR399,261$874,3820.04%
98MICRON TECHNOLOGY INCMU10,000$868,9000.04%
99FIRST BANK/HAMILTON NJ31931U10257,715$854,7590.04%
100SEADRILL LIMITEDSDRL33,780$844,5000.04%
101KLX ENERGY SERVICES HOLDING48253L205227,892$797,6220.03%
102BABCOCK & WILCOX ENTERPRBW-PA960,154$645,6080.03%
103COHERENT CORPCOHR9,915$643,8800.03%
104FENNEC PHARMACEUTICALS INCFENC102,172$622,2270.03%
105WESTERN DIGITAL CORPWDC15,000$606,4500.03%
106FENNEC PHARMACEUTICALS INCFENC93,049$566,6680.02%
107LIBERTY ENERGY INCLBRT35,367$559,8600.02%
108BABCOCK & WILCOX ENTERPRBW-PA765,092$514,4480.02%
109HBT FINANCIAL INC/DE40411110615,181$340,2060.01%
110HALLIBURTON COHAL11,286$286,3260.01%
111HAWTHORN BANCSHARES INCHWBK10,000$282,3000.01%
112SANDISK CORPSNDK5,000$238,0500.01%
113CIVISTA BANCSHARES INCCIVB10,000$195,4000.01%
114IF BANCORP INC44951J1057,201$173,4720.01%
115OPTICAL CABLE CORPOCC45,000$125,5500.01%
116ALGOMA STEEL GROUP INC -CW2601565811593,408$34,7940.00%