CIK: 0001238990
Total reported value
$1.7B
Reporting period: 2026-03-31 · Number of holdings: 163
PUNCH & ASSOCIATES INVESTMENT MANAGEMENT, INC. disclosed 163 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $1.7B and a quarterly turnover rate of 26.0%.
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Punch & Associates Investment Management, INC.'s disclosed holdings carry a Herfindahl concentration index of 0.012 — mathematically equivalent to about 81 equally-sized positions, well below its 163 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 1.01), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 43% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Trim RDNT
-8.6% -$13.2M
Add TDW
+4.3% $12.2M
Trim AMP
-90.5% -$11.8M
Trim LZ
+2.4% -$10.8M
Trim GOOGL
-18.5% -$10.4M
Trim VRRM
+1.7% -$8.9M
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | SNEX | Stonex Group INC | Stock-Financials | 4.39% | +0.46% | +33.30% | |
| 2 | LAUR | Laureate Education INC | Stock-Other | 2.36% | — | -7.83% | |
| 3 | UTI | Universal Technical Institut | Stock-Other | 2.24% | +0.46% | -7.95% | |
| 4 | ACA | Arcosa INC | Stock-Industrials | 2.22% | — | +0.23% | |
| 5 | ATEN | A10 Networks INC | Stock-Other | 1.95% | +0.47% | +1.69% | |
| 6 | RDNT | Radnet INC | Stock-Healthcare | 1.92% | -0.79% | -8.58% | |
| 7 | SILA | Sila Realty Trust INC | Stock-Other | 1.84% | — | +7.34% | |
| 8 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 1.78% | -0.63% | -18.50% | |
| 9 | SPNT | SiriusPoint Ltd. | Stock-Other | 1.76% | — | +1.83% | |
| 10 | TDW | Tidewater INC | Stock-Energy | 1.68% | +0.70% | +4.27% | |
| 11 | RPRX | Royalty Pharma plc | Stock-Healthcare | 1.66% | +0.31% | -0.26% | |
| 12 | LQDT | Liquidity Services INC | Stock-Other | 1.62% | — | +1.11% | |
| 13 | TREE | Lendingtree INC | Stock-Other | 1.60% | — | +37.77% | |
| 14 | GSL | Global Ship Lease, Inc. | Stock-Other | 1.54% | -0.45% | -26.11% | |
| 15 | NPKI | Npk International INC | Stock-Other | 1.52% | +0.23% | -1.84% | |
| 16 | PLOW | Douglas Dynamics INC | Stock-Other | 1.51% | +0.34% | +1.16% | |
| 17 | CVCO | Cavco Industries INC | Stock-Consumer Disc | 1.42% | — | +21.26% | |
| 18 | FIBK | First Interstate Bancsys-a | Stock-Other | 1.42% | — | +1.60% | |
| 19 | PSMT | Pricesmart INC | Stock-Consumer Staples | 1.41% | +0.27% | +1.61% | |
| 20 | VTS | Vitesse Energy INC | Stock-Other | 1.40% | -0.22% | -7.29% | |
| 21 | PARR | Par Pacific Holdings INC | Stock-Energy | 1.36% | +0.17% | -35.12% | |
| 22 | WTTR | Select Water Solutions INC | Stock-Other | 1.35% | +0.43% | +1.85% | |
| 23 | BG | Bunge Global SA | Stock-Consumer Staples | 1.34% | +0.35% | -4.13% | |
| 24 | GRBK | Green Brick Partners INC | Stock-Other | 1.33% | — | +1.73% | |
| 25 | IIIV | I3 Verticals Inc-class A | Stock-Other | 1.33% | +0.19% | +32.81% | |
| 26 | JCAP | Jefferson Capital INC | Stock-Other | 1.24% | +1.24% | NEW | |
| 27 | ENVA | Enova International INC | Stock-Financials | 1.20% | — | +1.92% | |
| 28 | APAM | Artisan Partners Asset Ma -a | Stock-Financials | 1.16% | — | +25.92% | |
| 29 | RTO | Rentokil Initial Plc-sp Adr | Stock-Other | 1.09% | — | -0.29% | |
| 30 | PDX | Pimco Dynamic Income Strat | Stock-Other | 1.08% | — | -19.26% | |
| 31 | ADUS | Addus Homecare CORP | Stock-Other | 1.05% | — | +5.98% | |
| 32 | BXC | Bluelinx Holdings INC | Stock-Other | 1.01% | — | +2.07% | |
| 33 | SFM | Sprouts Farmers Market INC | Stock-Consumer Staples | 0.97% | — | +26.08% | |
| 34 | VRRM | Verra Mobility CORP | Stock-Other | 0.95% | -0.53% | +1.74% | |
| 35 | MELI | Mercadolibre INC | Stock-Consumer Disc | 0.93% | — | +9.31% | |
| 36 | MSFT | Microsoft CORP | Stock-Tech | 0.92% | — | +16.48% | |
| 37 | LZ | Legalzoomcom INC | Stock-Other | 0.88% | -0.64% | +2.37% | |
| 38 | IQV | Iqvia Holdings INC | Stock-Healthcare | 0.87% | -0.29% | +0.11% | |
| 39 | DSP | Viant Technology Inc-a | Stock-Other | 0.87% | — | +16.44% | |
| 40 | KKR | Kkr & Co INC | Stock-Financials | 0.86% | -0.34% | +0.07% | |
| 41 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 0.86% | — | +0.06% | |
| 42 | HLMN | Hillman Solutions CORP | Stock-Other | 0.85% | — | +1.73% | |
| 43 | MRVL | Marvell Technology INC | Stock-Tech | 0.80% | +0.42% | +80.61% | |
| 44 | TMO | Thermo Fisher Scientific INC | Stock-Healthcare | 0.77% | — | +0.11% | |
| 45 | CSW | Csw Industrials INC | Stock-Industrials | 0.77% | — | +1.94% | |
| 46 | BV | Brightview Holdings INC | Stock-Other | 0.76% | — | +2.04% | |
| 47 | JPM | Jpmorgan Chase & Co | Stock-Financials | 0.75% | — | -3.45% | |
| 48 | EOG | Eog Resources INC | Stock-Energy | 0.75% | +0.20% | +0.48% | |
| 49 | BRSP | Brightspire Capital INC | Stock-Other | 0.75% | — | -1.02% | |
| 50 | PAYS | Paysign INC | Stock-Other | 0.70% | +0.26% | +40.73% |
Performance for Q3 2026
+4.3%
Performance Last 4 Quarters
+12.5%
Based on 67% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 163 | $1.7B | 26 | |
| 2025-12-31 | 156 | $1.7B | 19 | |
| 2025-09-30 | 160 | $1.7B | 38 | |
| 2025-06-30 | 163 | $1.6B | 0 | |
| 2025-03-31 | 164 | $1.5B | 100 | |
| 2024-12-31 | 168 | $1.8B | 0 | |
| 2024-09-30 | 169 | $1.8B | 0 | |
| 2024-06-30 | 175 | $1.7B | 0 | |
| 2024-03-31 | 176 | $1.8B | 0 | |
| 2023-12-31 | 230 | $1.7B | 0 | |
| 2023-09-30 | 231 | $1.6B | 0 | |
| 2023-06-30 | 236 | $1.6B | 0 | |
| 2023-03-31 | 231 | $1.6B | 0 | |
| 2022-12-31 | 224 | $1.5B | 0 | |
| 2022-09-30 | 221 | $1.4B | 0 | |
| 2022-06-30 | 237 | $1.4B | 0 | |
| 2022-03-31 | 238 | $1.8B | 0 | |
| 2021-12-31 | 246 | $1.9B | 0 | |
| 2021-09-30 | 241 | $1.7B | 0 | |
| 2021-06-30 | 245 | $1.8B | 21 | |
| 2021-03-31 | 238 | $1.7B | 26 | |
| 2020-12-31 | 235 | $1.4B | 34 | |
| 2020-09-30 | 235 | $1.2B | 25 | |
| 2020-06-30 | 228 | $1.1B | 39 | |
| 2020-03-31 | 222 | $839.2M | 50 | |
| 2019-12-31 | 235 | $1.3B | 22 | |
| 2019-09-30 | 212 | $1.2B | 16 | |
| 2019-06-30 | 205 | $1.2B | 13 | |
| 2019-03-31 | 205 | $1.2B | 22 | |
| 2018-12-31 | 215 | $1.0B | 25 | |
| 2018-09-30 | 212 | $1.3B | 16 | |
| 2018-06-30 | 204 | $1.2B | 19 | |
| 2018-03-31 | 183 | $1.1B | 17 | |
| 2017-12-31 | 183 | $1.2B | 17 | |
| 2017-09-30 | 180 | $1.1B | 17 | |
| 2017-06-30 | 181 | $1.1B | 18 | |
| 2017-03-31 | 182 | $1.0B | 98 | |
| 2016-12-31 | 180 | $1.0B | 23 | |
| 2016-09-30 | 175 | $933.7M | 19 | |
| 2016-06-30 | 171 | $865.4M | 21 | |
| 2016-03-31 | 166 | $824.7M | 20 | |
| 2015-12-31 | 274 | $827.8M | 26 | |
| 2015-09-30 | 181 | $730.4M | 20 | |
| 2015-06-30 | 178 | $795.9M | 23 | |
| 2015-03-31 | 173 | $803.3M | 100 | |
| 2014-12-31 | 170 | $767.0M | 0 | |
| 2014-09-30 | 174 | $715.3M | 19 | |
| 2014-06-30 | 173 | $746.1M | 18 | |
| 2014-03-31 | 173 | $730.5M | 17 | |
| 2013-12-31 | 174 | $742.4M | 24 | |
| 2013-09-30 | 204 | $642.3M | 21 | |
| 2013-06-30 | 165 | $568.8M | 0 |
Punch & Associates Investment Management, INC.'s most significant position changes for 2026-03-31: New buy: Jefferson Capital INC (JCAP); New buy: Sea Ltd-adr (SE); Sold out: Healthstream INC (HSTM); New buy: Amrize Ltd (AMRZ); New buy: Trimas CORP (TRS).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | TDW | Tidewater INC | +0.7% | +4.27% | Add |
| 2 | ATEN | A10 Networks INC | +0.5% | +1.69% | Add |
| 3 | SNEX | Stonex Group INC | +0.5% | +33.30% | Add |
| 4 | UTI | Universal Technical Institut | +0.5% | -7.95% | Trim |
| 5 | WTTR | Select Water Solutions INC | +0.4% | +1.85% | Add |
| 6 | MRVL | Marvell Technology INC | +0.4% | +80.61% | Add |
| 7 | BG | Bunge Global SA | +0.4% | -4.13% | Trim |
| 8 | PLOW | Douglas Dynamics INC | +0.3% | +1.16% | Add |
| 9 | RPRX | Royalty Pharma plc | +0.3% | -0.26% | Trim |
| 10 | PSMT | Pricesmart INC | +0.3% | +1.61% | Add |
| 11 | PAYS | Paysign INC | +0.3% | +40.73% | Add |
| 12 | NPKI | Npk International INC | +0.2% | -1.84% | Trim |
| 13 | SMRT | Smartrent INC | +0.2% | +163.88% | Add |
| 14 | APEI | American Public Education | +0.2% | -0.16% | Trim |
| 15 | EOG | Eog Resources INC | +0.2% | +0.48% | Add |
| 16 | IIIV | I3 Verticals Inc-class A | +0.2% | +32.81% | Add |
| 17 | RFIL | Rf Industries LTD | +0.2% | -6.20% | Trim |
| 18 | PARR | Par Pacific Holdings INC | +0.2% | -35.12% | Trim |
| 19 | GLRE | Greenlight Capital Re, Ltd. | -0.2% | -74.82% | Trim |
| 20 | VTS | Vitesse Energy INC | -0.2% | -7.29% | Trim |
| 21 | TDOC 1.25 06-01-27 | Teladoc Health INC | -0.3% | -99.40% | Trim |
| 22 | ARHS | Arhaus INC | -0.3% | +2.07% | Add |
| 23 | IQV | Iqvia Holdings INC | -0.3% | +0.11% | Add |
| 24 | MDXG | Mimedx Group INC | -0.3% | +0.62% | Add |
| 25 | KKR | Kkr & Co INC | -0.3% | +0.07% | Add |
| 26 | GSL | Global Ship Lease, Inc. | -0.5% | -26.11% | Trim |
| 27 | ULTA | Ulta Beauty INC | -0.5% | -36.79% | Trim |
| 28 | VRRM | Verra Mobility CORP | -0.5% | +1.74% | Add |
| 29 | GOOGL | Alphabet Inc-cl A | -0.6% | -18.50% | Trim |
| 30 | LZ | Legalzoomcom INC | -0.6% | +2.37% | Add |
| 31 | AMP | Ameriprise Financial INC | -0.7% | -90.54% | Trim |
| 32 | RDNT | Radnet INC | -0.8% | -8.58% | Trim |
| 33 | JCAP | Jefferson Capital INC | — | NEW | New buy |
| 34 | SE | Sea Ltd-adr | — | NEW | New buy |
| 35 | HSTM | Healthstream INC | — | EXIT | Sold out |
| 36 | AMRZ | Amrize Ltd | — | NEW | New buy |
| 37 | TRS | Trimas CORP | — | NEW | New buy |
| 38 | ALEX | Alexander & Baldwin INC | — | EXIT | Sold out |
| 39 | ARCC | Ares Capital CORP | — | NEW | New buy |
| 40 | FC | Franklin Covey Co | — | EXIT | Sold out |
| 41 | T | At&t INC | — | EXIT | Sold out |
| 42 | CASS | Cass Information Systems INC | — | NEW | New buy |
| 43 | ALX | Alexander's INC | — | NEW | New buy |
| 44 | ALNT | Allient INC | — | EXIT | Sold out |
| 45 | OXM | Oxford Industries INC | — | NEW | New buy |
| 46 | WHR 8.5 02-15-29 A | Whirlpool CORP | — | NEW | New buy |
| 47 | ACN | Accenture plc | — | EXIT | Sold out |
| 48 | ORCL 6.5 01-15-29 D | Oracle CORP | — | NEW | New buy |
| 49 | PDM | Piedmont Realty Trust INC | — | NEW | New buy |
| 50 | SAMG | Silvercrest Asset Manageme-a | — | NEW | New buy |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-15 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-17 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-14 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-14 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-15 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-14 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-14 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-14 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-15 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-15 | Amendment | View on EDGAR |
| 2023-12-31 | 2024-02-14 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-10-26 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-14 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-15 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-14 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-14 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-15 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-16 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-15 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-11-15 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-09-10 | Amendment | View on EDGAR |
| 2021-06-30 | 2021-08-16 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-05-18 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-02-16 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-11-16 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-08-14 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-05-15 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-02-14 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-11-14 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-08-14 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-05-14 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-02-14 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-11-14 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-08-14 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-05-14 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-02-14 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-11-14 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-08-14 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-08-14 | Amendment | View on EDGAR |
| 2017-03-31 | 2017-04-27 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-02-02 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2016-11-21 | Amendment | View on EDGAR |
| 2016-09-30 | 2016-11-01 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-07-15 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2016-04-25 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-01-28 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2015-11-13 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2015-07-24 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2015-04-29 | 13F-HR | View on EDGAR |
| 2014-12-31 | 2015-02-03 | Amendment | View on EDGAR |
| 2014-12-31 | 2015-02-02 | 13F-HR | View on EDGAR |
| 2014-09-30 | 2014-10-10 | 13F-HR | View on EDGAR |
| 2014-06-30 | 2014-07-10 | 13F-HR | View on EDGAR |
| 2014-03-31 | 2014-04-23 | 13F-HR | View on EDGAR |
| 2013-12-31 | 2014-02-07 | 13F-HR | View on EDGAR |
| 2013-09-30 | 2013-10-28 | 13F-HR | View on EDGAR |
| 2013-06-30 | 2013-07-30 | 13F-HR | View on EDGAR |
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