SEC 13F Intelligence

Managers / Q4 2019 · view latest →

PUNCH & ASSOCIATES INVESTMENT MANAGEMENT, INC.

CIK 0001238990 · 7701 FRANCE AVE. SOUTH, SUITE 300, EDINA, MN, 55435 · 9522244350

Reported Value
$1.3B
Q4 2019
Positions
235
Filings on Record
32
2019–present window
Filed
Feb 14, 2020
original filing

Summary

Punch & Associates Investment Management, Inc. reported $1.3B in U.S.-listed holdings across 235 positions for Q4 2019.

Its largest position, RILY, represents 3.1% of the portfolio.

Compared with Q3 2019, the fund opened 33 new positions and exited 10.

Portfolio Metrics

Turnover
+8.1%
vs prior filed quarter
Top-10 Concentration
+19.2%
share of reported value
Largest Position
+3.1%
B Riley Finl
New / Exited
33 / 10
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $1.0BQ4 ’18Q1 ’19: $1.2BQ2 ’19: $1.2BQ3 ’19: $1.2BQ4 ’19: $1.3BQ4 ’19Q1 ’20: $839MQ2 ’20: $1.1BQ3 ’20: $1.2BQ4 ’20: $1.4BQ4 ’20Q1 ’21: $1.7BQ2 ’21: $2.0BQ3 ’21: $1.7BQ4 ’21: $1.9BQ4 ’21Q1 ’22: $1.8BQ2 ’22: $1.4BQ3 ’22: $1.4BQ4 ’22: $1.5BQ4 ’22Q1 ’23: $1.6BQ2 ’23: $1.6BQ3 ’23: $1.6BQ4 ’23: $1.7BQ4 ’23Q1 ’24: $1.8BQ2 ’24: $1.7BQ3 ’24: $1.8BQ4 ’24: $1.8BQ4 ’24Q1 ’25: $1.5BQ2 ’25: $1.6BQ3 ’25: $1.7BQ4 ’25: $1.7BQ4 ’25Q1 ’26: $1.7Bfilingsflow.com

Portfolio Composition

By security type
Common Stock: 74.9%Closed-End Fund: 8.4%Other: 7.7%ETP: 6.3%REIT: 2.7%
  • Common Stock · 74.9% · $951M
  • Closed-End Fund · 8.4% · $106M
  • Other · 7.7% · $98M
  • ETP · 6.3% · $80M
  • REIT · 2.7% · $34M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2019 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
ISHARES TRNEW+88.8K88.8K+$10M$10M
NRGXEURPIMCO ENRGY TACTICAL CR OPPNEW+418.1K418.1K+$7M$7M
AIOTPOWERFLEET INCNEW+785.6K785.6K+$5M$5M
BROADMARK RLTY CAP INCNEW+331.8K331.8K+$4M$4M
ISHARES TRNEW+3.7K3.7K+$616,000$616,000
VANGUARD INDEX FDSNEW+4.4K4.4K+$530,000$530,000
VANGUARD INDEX FDSNEW+3.0K3.0K+$414,000$414,000
TORTOISE ENERGY INDEPENDENCNEW+64.3K64.3K+$279,000$279,000

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q4 2019

48 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1ISHARES TRS&P 500 GRWT ETF · CORE MSCI EURO · SHORT TREAS BD3.34%$42M422.3K
2RILYB RILEY FINL INChistory →COM3.09%$39M1.56M
3INTLUSDINTL FCSTONE INChistory →COM2.75%$35M715.5K
4CSWCCAPITAL SOUTHWEST CORPhistory →COM2.03%$26M1.24M
5CALYCALLAWAY GOLF COhistory →COM1.71%$22M1.02M
6EFTTECHTARGET INChistory →COM1.69%$21M822.1K
7GRBKGREEN BRICK PARTNERS INChistory →COM1.63%$21M1.80M
8TRYBARINGS BDC INChistory →COM1.60%$20M1.97M
9DGIIDIGI INTL INChistory →COM1.59%$20M1.14M
10MBUUMALIBU BOATS INChistory →COM CL A1.44%$18M445.9K
11CMCOCOLUMBUS MCKINNON CORP N Yhistory →COM1.43%$18M453.3K
12KBALUSDKIMBALL INTL INChistory →CL B1.35%$17M826.4K
13NEUBERGER BERMAN MLP AND ENRCOM1.32%$17M2.48M
14PARRPAR PACIFIC HOLDINGS INChistory →COM NEW1.27%$16M691.6K
15PZNUSDPZENA INVESTMENT MGMT INChistory →CLASS A1.25%$16M1.84M
16PLOWDOUGLAS DYNAMICS INChistory →COM1.22%$15M281.5K
17HCKTHACKETT GROUP INChistory →COM1.20%$15M942.8K
18INVESCO EXCHANGE TRADED FD TS&P500 PUR VAL1.11%$14M202.8K
19SEASPAN CORPSHS1.08%$14M968.1K
20DLXDELUXE CORPhistory →COM1.04%$13M263.6K
21RIVERNORTH DOUBLELINE STRATECOM0.98%$12M760.1K
22FCFRANKLIN COVEY COhistory →COM0.96%$12M379.2K
23LADLITHIA MTRS INChistory →CL A0.95%$12M81.8K
24MSFTMICROSOFT CORPhistory →COM0.94%$12M76.0K
25STEWBOULDER GROWTH & INCOME FD Ihistory →COM0.92%$12M989.0K
26DISDISNEY WALT COhistory →COM DISNEY0.91%$12M80.2K
27RDNTRADNET INChistory →COM0.90%$11M565.6K
28ADUSADDUS HOMECARE CORPhistory →COM0.90%$11M118.0K
29HIGHLAND INCOME FUNDHIGHLAND INCOME0.89%$11M911.2K
30UNHUNITEDHEALTH GROUP INChistory →COM0.89%$11M38.4K
31DRIVE SHACK INCCOM0.84%$11M2.92M
32ETSYETSY INChistory →COM0.84%$11M239.7K
33JPMJPMORGAN CHASE & COhistory →COM0.84%$11M76.1K
34FIRST TR DYNAMIC EUROPE EQTCOM SHS0.80%$10M676.1K
35FISVFISERV INChistory →COM0.79%$10M87.2K
36HOFTHOOKER FURNITURE CORPhistory →COM0.79%$10M392.0K
37FOEFERRO CORPhistory →COM0.79%$10M679.0K
38ARCCARES CAP CORPCOM0.76%$10M520.5K
39AGYSAGILYSYS INCCOM0.76%$10M381.2K
40ALGALAMO GROUP INCCOM0.76%$10M76.8K
41SSPSCRIPPS E W CO OHIOCL A NEW0.75%$10M608.7K
42SPOKSPOK HLDGS INCCOM0.72%$9M751.8K
43ELVANTHEM INCCOM0.70%$9M29.5K
44DYHTARGET CORPCOM0.67%$9M66.4K
45UFPTUFP TECHNOLOGIES INCCOM0.67%$8M171.0K
46ALNTALLIED MOTION TECHNOLOGIES ICOM0.67%$8M174.8K
47HQHTEKLA HEALTHCARE INVSSH BEN INT0.67%$8M405.8K
481GSNNOVANTA INCCOM0.66%$8M95.4K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$1.7B163May 15, 202613F-HRchanges · EDGAR ↗
Q4 2025$1.7B156Feb 17, 202613F-HRchanges · EDGAR ↗
Q3 2025$1.7B160Nov 14, 202513F-HRchanges · EDGAR ↗
Q2 2025$1.6B163Aug 14, 202513F-HRchanges · EDGAR ↗
Q1 2025$1.5B164May 15, 202513F-HRchanges · EDGAR ↗
Q4 2024$1.8B168Feb 14, 202513F-HRchanges · EDGAR ↗
Q3 2024$1.8B169Nov 14, 202413F-HRchanges · EDGAR ↗
Q2 2024$1.7B175Aug 14, 202413F-HRchanges · EDGAR ↗
Q1 2024$1.8B176May 15, 202413F-HRchanges · EDGAR ↗
Q4 2023$1.7B230Feb 15, 2024RESTATEMENTchanges · EDGAR ↗
Q3 2023$1.6B231Oct 26, 202313F-HRchanges · EDGAR ↗
Q2 2023$1.6B236Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$1.6B231May 15, 202313F-HRchanges · EDGAR ↗
Q4 2022$1.5B224Feb 14, 202313F-HRchanges · EDGAR ↗
Q3 2022$1.4B221Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$1.4B237Aug 15, 202213F-HRchanges · EDGAR ↗
Q1 2022$1.8B238May 16, 202213F-HRchanges · EDGAR ↗
Q4 2021$1.9B246Feb 15, 202213F-HRchanges · EDGAR ↗
Q3 2021$1.7B241Nov 15, 202113F-HRchanges · EDGAR ↗
Q2 2021$2.0B245Aug 16, 202113F-HRchanges · EDGAR ↗
Q1 2021$1.7B238May 18, 202113F-HRchanges · EDGAR ↗
Q4 2020$1.4B235Feb 16, 202113F-HRchanges · EDGAR ↗
Q3 2020$1.2B235Nov 16, 202013F-HRchanges · EDGAR ↗
Q2 2020$1.1B228Aug 14, 202013F-HRchanges · EDGAR ↗
Q1 2020$839M222May 15, 202013F-HRchanges · EDGAR ↗
Q4 2019$1.3B235Feb 14, 202013F-HRchanges · EDGAR ↗
Q3 2019$1.2B212Nov 14, 201913F-HRchanges · EDGAR ↗
Q2 2019$1.2B205Aug 14, 201913F-HRchanges · EDGAR ↗
Q1 2019$1.2B205May 14, 201913F-HRchanges · EDGAR ↗
Q4 2018$1.0B215Feb 14, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.