Q3 2025 · 13F-HR
PUNCH & ASSOCIATES INVESTMENT MANAGEMENT, INC.holdings as filed
Filed 2025-11-14 · accession 0001398344-25-020910
$1.73B
Reported value
160
Positions
2025-09-30
Period end
The Brief · PUNCH & ASSOCIATES INVESTMENT MANAGEMENT, INC. · Q3 2025
AI · grounded in 13F
PUNCH & ASSOCIATES INVESTMENT MANAGEMENT, INC. established a new position in SNEX valued at $71.7M. The fund also initiated new stakes in RDNT for $49.5M and LAUR for $40.6M. Additional new positions include UTI at $37.8M and ACA at $34.1M. Total assets under management stand at $1.7B across 160 positions.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 861896108 | SNEX | STONEX GROUP INC | $71.7M | 4.16% | 710,853 | Common | NONE |
| 750491102 | RDNT | RADNET INC | $49.5M | 2.87% | 649,378 | Common | NONE |
| 518613203 | LAUR | LAUREATE EDUCATION INC | $40.6M | 2.35% | 1,285,802 | Common | NONE |
| 913915104 | UTI | UNIVERSAL TECHNICAL INST INC | $37.8M | 2.19% | 1,162,277 | Common | NONE |
| 039653100 | ACA | ARCOSA INC | $34.1M | 1.98% | 363,595 | Common | NONE |
| Y27183600 | GSL | GLOBAL SHIP LEASE INC NEW | $33.7M | 1.95% | 1,097,441 | Common | NONE |
| 02079K305 | GOOGL | ALPHABET INC | $32.6M | 1.89% | 134,083 | Common | NONE |
| 92852X103 | VTS | VITESSE ENERGY INC | $29.6M | 1.71% | 1,272,995 | Common | NONE |
| 146280508 | SILA | SILA REALTY TRUST INC | $28.5M | 1.65% | 1,135,388 | Common | NONE |
| 92511U102 | VRRM | VERRA MOBILITY CORP | $27.9M | 1.62% | 1,128,672 | Common | NONE |
| 69346N107 | PDX | PIMCO DYNAMIC INCOME STRATEG | $26.5M | 1.53% | 1,061,415 | Common | NONE |
| 392709101 | GRBK | GREEN BRICK PARTNERS INC | $26.2M | 1.52% | 354,901 | Common | NONE |
| 002121101 | ATEN | A10 NETWORKS INC | $26.0M | 1.51% | 1,431,358 | Common | NONE |
| 69888T207 | PARR | PAR PAC HOLDINGS INC | $25.3M | 1.46% | 713,430 | Common | NONE |
| 46571Y107 | IIIV | I3 VERTICALS INC | $25.2M | 1.46% | 777,477 | Common | NONE |
| 53635B107 | LQDT | LIQUIDITY SVCS INC | $25.0M | 1.45% | 909,743 | Common | NONE |
| 149568107 | CVCO | CAVCO INDS INC DEL | $24.8M | 1.44% | 42,686 | Common | NONE |
| 09624H208 | BXC | BLUELINX HLDGS INC | $23.5M | 1.36% | 321,231 | Common | NONE |
| 32055Y201 | FIBK | FIRST INTST BANCSYSTEM INC | $23.1M | 1.34% | 724,155 | Common | NONE |
| 52603B107 | TREE | LENDINGTREE INC NEW | $22.5M | 1.30% | 347,654 | Common | NONE |
| 52466B103 | LZ | LEGALZOOM COM INC | $22.1M | 1.28% | 2,126,260 | Common | NONE |
| 651718504 | NPKI | NPK INTERNATIONAL INC | $21.4M | 1.24% | 1,894,726 | Common | NONE |
| G7709Q104 | RPRX | ROYALTY PHARMA PLC | $21.0M | 1.22% | 595,891 | Common | NONE |
| 48251W104 | KKR | KKR & CO INC | $20.8M | 1.20% | 159,705 | Common | NONE |
| 741511109 | PSMT | PRICESMART INC | $19.4M | 1.12% | 159,681 | Common | NONE |
| 25960R105 | PLOW | DOUGLAS DYNAMICS INC | $19.2M | 1.11% | 614,815 | Common | NONE |
| 04316A108 | APAM | ARTISAN PARTNERS ASSET MGMT | $19.2M | 1.11% | 441,852 | Common | NONE |
| 81617J301 | WTTR | SELECT WATER SOLUTIONS INC | $19.1M | 1.10% | 1,782,526 | Common | NONE |
| 594918104 | MSFT | MICROSOFT CORP | $19.0M | 1.10% | 36,680 | Common | NONE |
| 85208M102 | SFM | SPROUTS FMRS MKT INC | $18.8M | 1.09% | 172,883 | Common | NONE |
| 58733R102 | MELI | MERCADOLIBRE INC | $18.3M | 1.06% | 7,851 | Common | NONE |
| 88642R109 | TDW | TIDEWATER INC NEW | $18.2M | 1.06% | 342,081 | Common | NONE |
| 90384S303 | ULTA | ULTA BEAUTY INC | $18.0M | 1.04% | 32,950 | Common | NONE |
| 946760105 | CLMB | CLIMB GLOBAL SOLUTIONS INC | $17.3M | 1.00% | 128,340 | Common | NONE |
| G8192H106 | SPNT | SIRIUSPOINT LTD | $17.0M | 0.99% | 941,379 | Common | NONE |
| 006739106 | ADUS | ADDUS HOMECARE CORP | $16.9M | 0.98% | 143,655 | Common | NONE |
| 46266C105 | IQV | IQVIA HLDGS INC | $16.6M | 0.96% | 87,418 | Common | NONE |
| 68389X105 | ORCL | ORACLE CORP | $16.6M | 0.96% | 58,962 | Common | NONE |
| 431636109 | HLMN | HILLMAN SOLUTIONS CORP | $16.0M | 0.93% | 1,743,304 | Common | NONE |
| 084670702 | BRK/B | BERKSHIRE HATHAWAY INC DEL | $15.5M | 0.90% | 30,810 | Common | NONE |
| 12008R107 | BLDR | BUILDERS FIRSTSOURCE INC | $15.5M | 0.90% | 127,659 | Common | NONE |
| H11356104 | BG | BUNGE GLOBAL SA | $15.3M | 0.89% | 188,110 | Common | NONE |
| 760125104 | RTO | RENTOKIL INITIAL PLC | $15.1M | 0.87% | 597,185 | Common | NONE |
| 10948C107 | BV | BRIGHTVIEW HLDGS INC | $14.7M | 0.85% | 1,099,128 | Common | NONE |
| 46625H100 | JPM | JPMORGAN CHASE & CO. | $14.4M | 0.83% | 45,573 | Common | NONE |
| 602496101 | MDXG | MIMEDX GROUP INC | $14.0M | 0.81% | 2,005,014 | Common | NONE |
| 011311107 | ALG | ALAMO GROUP INC | $13.3M | 0.77% | 69,872 | Common | NONE |
| 254687106 | DIS | DISNEY WALT CO | $13.2M | 0.76% | 115,177 | Common | NONE |
| 883556102 | TMO | THERMO FISHER SCIENTIFIC INC | $13.2M | 0.76% | 27,129 | Common | NONE |
| 03076C106 | AMP | AMERIPRISE FINL INC | $12.9M | 0.75% | 26,246 | Common | NONE |
| 42222N103 | HSTM | HEALTHSTREAM INC | $12.8M | 0.74% | 452,384 | Common | NONE |
| 10949T109 | BRSP | BRIGHTSPIRE CAPITAL INC | $12.7M | 0.74% | 2,335,970 | Common | NONE |
| 830830105 | SKY | CHAMPION HOMES INC | $12.5M | 0.73% | 164,045 | Common | NONE |
| 126402106 | CSW | CSW INDUSTRIALS INC | $12.1M | 0.70% | 49,928 | Common | NONE |
| 49456B101 | KMI | KINDER MORGAN INC DEL | $12.1M | 0.70% | 426,162 | Common | NONE |
| 52472M101 | LEGH | LEGACY HOUSING CORP | $11.8M | 0.68% | 429,110 | Common | NONE |
| 04035M102 | ARHS | ARHAUS INC | $11.6M | 0.67% | 1,091,153 | Common | NONE |
| 353469109 | FC | FRANKLIN COVEY CO | $11.5M | 0.67% | 591,318 | Common | NONE |
| 337738108 | FISV | FISERV INC | $11.4M | 0.66% | 88,518 | Common | NONE |
| 57667L107 | MTCH | MATCH GROUP INC NEW | $11.4M | 0.66% | 322,558 | Common | NONE |
| 29357K103 | ENVA | ENOVA INTL INC | $11.1M | 0.64% | 96,452 | Common | NONE |
| 556269108 | SHOO | MADDEN STEVEN LTD | $11.1M | 0.64% | 331,551 | Common | NONE |
| 244199105 | DE | DEERE & CO | $10.6M | 0.62% | 23,239 | Common | NONE |
| 78467J100 | SSNC | SS&C TECHNOLOGIES HLDGS INC | $10.6M | 0.61% | 119,331 | Common | NONE |
| 478160104 | JNJ | JOHNSON & JOHNSON | $10.4M | 0.60% | 55,892 | Common | NONE |
| 92557A101 | DSP | VIANT TECHNOLOGY INC | $10.4M | 0.60% | 1,199,490 | Common | NONE |
| 26875P101 | EOG | EOG RES INC | $10.1M | 0.58% | 89,691 | Common | NONE |
| 94106L109 | WM | WASTE MGMT INC DEL | $10.0M | 0.58% | 45,117 | Common | NONE |
| 760759100 | RSG | REPUBLIC SVCS INC | $9.6M | 0.55% | 41,686 | Common | NONE |
| 143905107 | CSV | CARRIAGE SVCS INC | $9.4M | 0.55% | 211,425 | Common | NONE |
| 761025105 | RSSS | RESEARCH SOLUTIONS INC | $9.3M | 0.54% | 2,499,310 | Common | NONE |
| 91324P102 | UNH | UNITEDHEALTH GROUP INC | $9.2M | 0.53% | 26,572 | Common | NONE |
| 18482P103 | CLFD | CLEARFIELD INC | $9.0M | 0.52% | 262,610 | Common | NONE |
| 03769M106 | APO | APOLLO GLOBAL MGMT INC | $8.9M | 0.52% | 66,756 | Common | NONE |
| 09257W100 | BXMT | BLACKSTONE MTG TR INC | $8.8M | 0.51% | 479,793 | Common | NONE |
| 533535100 | LINC | LINCOLN EDL SVCS CORP | $8.7M | 0.51% | 371,750 | Common | NONE |
| 17888H103 | CIVI | CIVITAS RESOURCES INC | $8.4M | 0.49% | 259,248 | Common | NONE |
| 45685K102 | INFU | INFUSYSTEM HLDGS INC | $8.4M | 0.49% | 809,750 | Common | NONE |
| 910710102 | ACIC | AMERICAN COASTAL INS CORP | $8.2M | 0.48% | 723,900 | Common | NONE |
| G1151C101 | ACN | ACCENTURE PLC IRELAND | $8.2M | 0.48% | 33,295 | Common | NONE |
| 404609109 | HCKT | HACKETT GROUP INC | $8.1M | 0.47% | 428,654 | Common | NONE |
| 33741Q107 | FTHY | FIRST TR HIGH YIELD OPPRT 20 | $8.1M | 0.47% | 556,742 | Common | NONE |
| 87612E106 | TGT | TARGET CORP | $7.7M | 0.45% | 86,262 | Common | NONE |
| 02913V103 | APEI | AMERICAN PUB ED INC | $7.7M | 0.45% | 195,316 | Common | NONE |
| 108621103 | BWB | BRIDGEWATER BANCSHARES INC | $7.6M | 0.44% | 433,960 | Common | NONE |
| 036752103 | ELV | ELEVANCE HEALTH INC FORMERLY | $7.5M | 0.44% | 23,249 | Common | NONE |
| 097023204 | BA 6 10/15/27 | BOEING CO | $7.4M | 0.43% | 106,235 | Common | NONE |
| 33751L105 | MYFW | FIRST WESTN FINL INC | $7.2M | 0.42% | 311,502 | Common | NONE |
| 645827205 | IDR | IDAHO STRATEGIC RESOURCES | $7.1M | 0.41% | 209,655 | Common | NONE |
| 749552105 | RFIL | RF INDS LTD | $6.6M | 0.38% | 803,059 | Common | NONE |
| 00847J105 | AGYS | AGILYSYS INC | $6.5M | 0.38% | 61,930 | Common | NONE |
| 780915104 | RMT | ROYCE MICRO-CAP TR INC | $6.4M | 0.37% | 616,718 | Common | NONE |
| 17878Y207 | CVEO | CIVEO CORP CDA | $6.3M | 0.37% | 275,585 | Common | NONE |
| G4095J109 | GLRE | GREENLIGHT CAPITAL RE LTD | $6.1M | 0.36% | 482,250 | Common | NONE |
| 015271109 | ARE | ALEXANDRIA REAL ESTATE EQ IN | $6.0M | 0.35% | 72,480 | Common | NONE |
| 00206R102 | T | AT&T INC | $5.9M | 0.34% | 208,578 | Common | NONE |
| 26441C204 | DUK | DUKE ENERGY CORP NEW | $5.9M | 0.34% | 47,448 | Common | NONE |
| 73754Y100 | PTB | POTBELLY CORP | $5.8M | 0.33% | 338,779 | Common | NONE |
| 629445206 | NVEC | NVE CORP | $5.7M | 0.33% | 86,690 | Common | NONE |
| 666762109 | NRIM | NORTHRIM BANCORP INC | $5.4M | 0.31% | 247,496 | Common | NONE |
| G3R239101 | GAMB | GAMBLING COM GROUP LIMITED | $5.1M | 0.30% | 628,315 | Common | NONE |
| 639027101 | NATR | NATURES SUNSHINE PRODS INC | $4.8M | 0.28% | 312,000 | Common | NONE |
| 87357P100 | TCMD | TACTILE SYS TECHNOLOGY INC | $4.8M | 0.28% | 346,125 | Common | NONE |
| 014491104 | ALEX | ALEXANDER & BALDWIN INC NEW | $4.7M | 0.27% | 260,449 | Common | NONE |
| 87918AAF2 | TDOC 1.25 06/01/27 | TELADOC HEALTH INC | $4.7M | 0.27% | 4,997,000 | Common | NONE |
| 505743104 | LADR | LADDER CAP CORP | $4.6M | 0.27% | 421,594 | Common | NONE |
| 92663R105 | VMD | VIEMED HEALTHCARE INC | $4.6M | 0.26% | 671,360 | Common | NONE |
| 902673102 | UFPT | UFP TECHNOLOGIES INC | $4.5M | 0.26% | 22,700 | Common | NONE |
| 285409108 | ELMD | ELECTROMED INC | $4.3M | 0.25% | 175,520 | Common | NONE |
| 71377E105 | PFMTUSD | PERFORMANT HEALTHCARE INC | $4.2M | 0.25% | 549,000 | Common | NONE |
| 893529107 | TRNS | TRANSCAT INC | $4.2M | 0.24% | 57,530 | Common | NONE |
| 73688F201 | BCIC | BCP INVESTMENT CORPORATION | $4.2M | 0.24% | 365,149 | Common | NONE |
| 68384X209 | OPXS | OPTEX SYS HLDGS INC | $4.1M | 0.24% | 319,863 | Common | NONE |
| 42727E103 | HGBL | HERITAGE GLOBAL INC | $4.1M | 0.24% | 2,475,228 | Common | NONE |
| 00162Q452 | AMLP | ALPS ETF TR | $4.1M | 0.24% | 87,483 | Common | NONE |
| 019330109 | ALNT | ALLIENT INC | $4.0M | 0.23% | 89,500 | Common | NONE |
| 45769N105 | ISSC | INNOVATIVE SOLUTIONS & SUPPO | $3.8M | 0.22% | 306,695 | Common | NONE |
| 384556106 | GHM | GRAHAM CORP | $3.7M | 0.22% | 67,755 | Common | NONE |
| 25264R207 | BVE | DIAMOND HILL INVT GROUP INC | $3.6M | 0.21% | 25,653 | Common | NONE |
| 70451A104 | PAYS | PAYSIGN INC | $3.5M | 0.20% | 552,735 | Common | NONE |
| 339382103 | FLXS | FLEXSTEEL INDS INC | $3.4M | 0.20% | 73,502 | Common | NONE |
| 62188E103 | MLCI | MOUNT LOGAN CAP INC | $3.2M | 0.18% | 405,343 | Common | NONE |
| 48251W500 | KKR 6.25 03/01/28 D | KKR & CO INC | $3.2M | 0.18% | 60,250 | Common | NONE |
| 82846H504 | QXO 5.5 05/15/28 | QXO INC | $3.1M | 0.18% | 57,000 | Common | NONE |
| 492854104 | KEQU | KEWAUNEE SCIENTIFIC CORP | $3.0M | 0.17% | 70,085 | Common | NONE |
| 729273102 | PLBC | PLUMAS BANCORP | $2.7M | 0.16% | 62,535 | Common | NONE |
| 798241105 | SJT | SAN JUAN BASIN RTY TR | $2.7M | 0.16% | 443,701 | Common | NONE |
| 749360400 | RCMT | RCM TECHNOLOGIES INC | $2.6M | 0.15% | 97,206 | Common | NONE |
| 877163105 | TAYD | TAYLOR DEVICES INC | $2.5M | 0.15% | 51,325 | Common | NONE |
| 40416E103 | HCI | HCI GROUP INC | $2.4M | 0.14% | 12,280 | Common | NONE |
| 464287689 | IWV | ISHARES TR | $1.9M | 0.11% | 4,927 | Common | NONE |
| 56146T103 | MAMA | MAMAS CREATIONS INC | $1.7M | 0.10% | 165,000 | Common | NONE |
| 05366Y201 | AVNW | AVIAT NETWORKS INC | $1.7M | 0.10% | 72,500 | Common | NONE |
| 74265M205 | PDEX | PRO-DEX INC COLO | $1.6M | 0.10% | 48,608 | Common | NONE |
| 52474R207 | LGCY | LEGACY ED INC | $1.6M | 0.09% | 168,500 | Common | NONE |
| 294375209 | EPSN | EPSILON ENERGY LTD | $1.6M | 0.09% | 311,905 | Common | NONE |
| 48563L101 | KRT | KARAT PACKAGING INC | $1.6M | 0.09% | 61,515 | Common | NONE |
| 66405S100 | NBN | NORTHEAST BK PORTLAND ME | $1.5M | 0.09% | 14,835 | Common | NONE |
| 46520M204 | ACCS | ACCESS NEWSWIRE INC | $1.5M | 0.09% | 138,260 | Common | NONE |
| 55025L108 | LFT | LUMENT FINANCE TRUST INC | $1.4M | 0.08% | 707,312 | Common | NONE |
| 46266A109 | IRMD | IRADIMED CORP | $1.2M | 0.07% | 17,000 | Common | NONE |
| 87422Q109 | TLN | TALEN ENERGY CORP | $365,827 | 0.02% | 860 | Common | NONE |
| 47233W109 | JEF | JEFFERIES FINL GROUP INC | $359,483 | 0.02% | 5,495 | Common | NONE |
| 922908611 | VBR | VANGUARD INDEX FDS | $244,840 | 0.01% | 1,173 | Common | NONE |
| 38526M106 | LOPE | GRAND CANYON ED INC | $242,570 | 0.01% | 1,105 | Common | NONE |
| 50155Q100 | KD | KYNDRYL HLDGS INC | $203,303 | 0.01% | 6,770 | Common | NONE |
| 74836W203 | QRHC | QUEST RESOURCE HLDG CORP | $174,180 | 0.01% | 111,654 | Common | NONE |
| 32026V104 | FFWM | FIRST FNDTN INC | $146,909 | 0.01% | 26,375 | Common | NONE |
| 922908769 | VTI | VANGUARD INDEX FDS | $145,493 | 0.01% | 443 | Common | NONE |
| 464288869 | IWC | ISHARES TR | $54,716 | 0.00% | 367 | Common | NONE |
| 464287655 | IWM | ISHARES TR | $44,763 | 0.00% | 185 | Common | NONE |
| 922908363 | VOO | VANGUARD INDEX FDS | $37,968 | 0.00% | 62 | Common | NONE |
| 464287226 | AGG | ISHARES TR | $30,075 | 0.00% | 300 | Common | NONE |
| 464288802 | SUSA | ISHARES TR | $25,773 | 0.00% | 190 | Common | NONE |
| 464287200 | IVV | ISHARES TR | $18,740 | 0.00% | 28 | Common | NONE |
| 464287804 | IJR | ISHARES TR | $11,289 | 0.00% | 95 | Common | NONE |
| 464288513 | HYG | ISHARES TR | $7,957 | 0.00% | 98 | Common | NONE |
| 46432F842 | IEFA | ISHARES TR | $5,937 | 0.00% | 68 | Common | NONE |
| 464287242 | LQD | ISHARES TR | $5,239 | 0.00% | 47 | Common | NONE |
| 464287408 | IVE | ISHARES TR | $3,133 | 0.00% | 15 | Common | NONE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.