Bandera Master Fund L.P.

Bandera Master Fund L.P. is reported as a hedge fund in Form ADV private-fund disclosures. The adviser is Bandera Partners, based in Brooklyn, New York, United States.

General hedge fund $100M to $500M $250K to $1M minimum

$242.9Mgross assets

$250Kminimum

30owners

3(c)(1)exemption

Disclosure fields

Fund facts

SEC private fund ID805-1035152558

Reference ID13832

JurisdictionCayman Islands

Fund of fundsNo

Master fundYes

Feeder fundNo

Non-US ownership29%

Assets valued100%

Annual auditYes

GAAPYes

Source periodMarch 2026

Date submitted03/27/2026 12:26:26 PM

Adviser

Bandera Partners

TypeRegistered investment adviser

SEC number801-74294

CRD161230

Regulatory AUM$244.1M

Compliance signals

Exempt from registration Sales limited Prime brokers reported Custodians reported

Service providers

Reported counterparties

General partners

Bandera Partners Management LLC

Auditors

EISNER AMPER LLP

Prime brokers

BTIG, LLC

Custodians

J.P. MORGAN SECURITIES LLCPERSHING LLCCOMPUTERSHAREGOLDMAN SACHS & CO. LLCAST

Administrators

APEX GROUP LTD.