SEC 13F Intelligence

Managers / Q4 2019 · view latest →

Adirondack Research & Management Inc.

CIK 0001569100 · 2390 WESTERN AVENUE, GUILDERLAND, NY, 12084 · 518-690-0470

Reported Value
$115M
Q4 2019
Positions
88
Filings on Record
11
2019–present window
Filed
Feb 11, 2020
original filing

Summary

Adirondack Research & Management Inc. reported $115M in U.S.-listed holdings across 88 positions for Q4 2019.

Its largest position, Office Depot, represents 4.1% of the portfolio.

Compared with Q3 2019, the fund opened 9 new positions and exited 17.

Portfolio Metrics

Turnover
+18.9%
vs prior filed quarter
Top-10 Concentration
+31.9%
share of reported value
Largest Position
+4.1%
Office Depot
New / Exited
9 / 17
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, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. 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
Q1 ’19: $161MQ1 ’19Q2 ’19: $139MQ3 ’19: $115MQ3 ’19Q4 ’19: $115MQ1 ’20: $72MQ1 ’20Q2 ’20: $76MQ3 ’20: $72MQ3 ’20Q4 ’20: $73MQ1 ’21: $85MQ1 ’21Q2 ’21: $86MQ3 ’21: $82MQ3 ’21filingsflow.com

Portfolio Composition

By security type
Common Stock: 87.4%Other: 8.7%MLP: 1.3%REIT: 1.3%Closed-End Fund: 0.5%Other: 0.9%
  • Common Stock · 87.4% · $101M
  • Other · 8.7% · $10M
  • MLP · 1.3% · $1M
  • REIT · 1.3% · $1M
  • Closed-End Fund · 0.5% · $567,000
  • Other · 0.9% · $1M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2019 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
OIO-I GLASS INCNEW+260.8K260.8K+$3M$3M
GRAFTECH INTL LTDNEW+124.5K124.5K+$1M$1M
THIRD PT REINS LTDNEW+121.2K121.2K+$1M$1M
HOUGHTON MIFFLIN HARCOURT CONEW+200.4K200.4K+$1M$1M
CALLON PETE CO DELNEW+212.4K212.4K+$1M$1M
CRNCCERENCE INCNEW+38.0K38.0K+$860,000$860,000
BRXBRIXMOR PPTY GROUP INCNEW+35.0K35.0K+$757,000$757,000
COLONY CR REAL ESTATE INCNEW+52.4K52.4K+$690,000$690,000

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

Holdings — Q4 2019

88 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1OFFICE DEPOT INCCOM4.08%$5M1.72M
2MR COOPER GROUP INCCOM3.44%$4M317.1K
3NATIONAL WESTN LIFE GROUP INCL A3.39%$4M13.5K
4CELESTICA INCSUB VTG SHS3.32%$4M463.4K
5ASCARDMORE SHIPPING CORPhistory →COM3.21%$4M409.1K
6MDRXALLSCRIPTS HEALTHCARE SOLUTNhistory →COM3.17%$4M372.8K
7CNOCNO FINL GROUP INChistory →COM2.96%$3M188.3K
8COVANTA HLDG CORPCOM2.79%$3M217.3K
9SEBSEABOARD CORPhistory →COM2.79%$3M757
10PATTERSON COMPANIES INCCOM2.72%$3M153.2K
11OIO-I GLASS INChistory →COM2.70%$3M260.8K
12ADTRAN INCCOM2.63%$3M306.7K
13LAZARD LTDSHS A2.59%$3M74.8K
14VONAGE HLDGS CORPCOM2.43%$3M390.1K
15GTNGRAY TELEVISION INChistory →COM2.27%$3M122.2K
16INFINERA CORPORATIONCOM2.21%$3M321.8K
17STCSTEWART INFORMATION SVCS CORhistory →COM2.16%$2M61.2K
18LYTSLSI INDS INChistory →COM2.15%$2M409.8K
19GNWGENWORTH FINL INChistory →COM CL A2.12%$2M556.5K
20TRIUMPH GROUP INC NEWCOM2.09%$2M95.5K
21VISTA OUTDOOR INCCOM1.86%$2M286.4K
22AAALCOA CORPhistory →COM1.77%$2M94.9K
23JBLUJETBLUE AWYS CORPhistory →COM1.67%$2M103.0K
24CNDTCONDUENT INChistory →COM1.64%$2M305.0K
25SOUTHWESTERN ENERGY COCOM1.44%$2M686.7K
26LIMELIGHT NETWORKS INCCOM1.41%$2M397.9K
27SANMSANMINA CORPORATIONhistory →COM1.36%$2M46.0K
28GRAFTECH INTL LTDCOM1.25%$1M124.5K
29HILL INTERNATIONAL INCCOM1.24%$1M453.6K
30MANITEX INTL INCCOM1.23%$1M237.7K
31THIRD PT REINS LTDCOM1.10%$1M121.2K
32HOUGHTON MIFFLIN HARCOURT COCOM1.09%$1M200.4K
33TTITETRA TECHNOLOGIES INC DELhistory →COM1.01%$1M597.0K
34KNKNOWLES CORPCOM0.96%$1M52.2K
35CECOCECO ENVIRONMENTAL CORPCOM0.95%$1M142.8K
36VSHVISHAY INTERTECHNOLOGY INCCOM0.93%$1M50.6K
37DFINDONNELLEY FINL SOLUTIONS INCCOM0.91%$1M100.8K
38CALLON PETE CO DELCOM0.89%$1M212.4K
39ATENA10 NETWORKS INCCOM0.87%$1M146.2K
40SCHNITZER STL INDSCL A0.84%$968,00044.6K
41SEACOR HOLDINGS INCCOM0.82%$948,00022.0K
42MTGMGIC INVT CORP WISCOM0.82%$943,00066.5K
43HORIZON GLOBAL CORPCOM0.82%$941,000269.7K
44CODICOMPASS DIVERSIFIED HOLDINGSSH BEN INT0.80%$925,00037.2K
45ARAYACCURAY INCCOM0.76%$877,000310.9K
46CRNCCERENCE INCCOM0.75%$860,00038.0K
47WLKPWESTLAKE CHEM PARTNERS LPCOM UNIT RP LP0.68%$783,00029.6K
48MSFTMICROSOFT CORPCOM0.67%$779,0004.9K
49ADMARCHER DANIELS MIDLAND COCOM0.67%$769,00016.6K
50BRXBRIXMOR PPTY GROUP INCCOM0.66%$757,00035.0K
51HESS MIDSTREAM PARTNERS LPUNIT LTD PR INT0.64%$740,00032.6K
52GSMFERROGLOBE PLCSHS0.60%$693,000737.4K
53COLONY CR REAL ESTATE INCCOM CL A0.60%$690,00052.4K
54PBF LOGISTICS LPUNIT LTD PTNR0.59%$676,00033.4K
55DFPFLAHERTY & CRUMRINE DYN PFDSHS0.49%$567,00025.4K
56CLARCLARUS CORP NEWCOM0.49%$562,00041.4K
57BROOKLINE BANCORP INC DELCOM0.45%$517,00031.4K
58HIGHARTFORD FINL SVCS GROUP INCCOM0.43%$502,0008.3K
59TAT&T INCCOM0.43%$500,00012.8K
60INVACARE CORPCOM0.40%$465,00051.5K
61METMETLIFE INCCOM0.39%$446,0008.8K
62BSXBOSTON SCIENTIFIC CORPCOM0.38%$441,0009.7K
63JAKKS PAC INCCOM0.36%$421,000408.5K
64EXCEXELON CORPCOM0.36%$419,0009.2K
65CSS INDS INCCOM0.36%$414,00093.9K
66HARVARD BIOSCIENCE INCCOM0.35%$400,000131.0K
67KEMET CORPCOM NEW0.34%$397,00014.7K
68CISION LTDSHS0.34%$391,00039.3K
69EDCONSOLIDATED EDISON INCCOM0.33%$376,0004.2K
70TRIBGBPTRINITY BIOTECH PLCSPON ADR NEW0.32%$365,000353.1K
71PFEPFIZER INCCOM0.30%$352,0009.0K
72TRUSTCO BK CORP N YCOM0.30%$349,00040.2K
73CCEPCOCA COLA EUROPEAN PARTNERSSHS0.28%$327,0006.4K
74NWLNEWELL BRANDS INCCOM0.28%$327,00017.0K
75KTCCKEY TRONIC CORPCOM0.27%$310,00056.9K
76RENEWABLE ENERGY GROUP INCCOM NEW0.26%$296,00011.0K
77TRNTRINITY INDS INCCOM0.25%$293,00013.2K
78RWMPROSHARES TRSHRT RUSSELL20000.25%$292,0007.9K
79ABTABBOTT LABSCOM0.25%$290,0003.3K
80TECKTECK RESOURCES LTDCL B0.25%$283,00016.3K
81MDLZMONDELEZ INTL INCCL A0.23%$261,0004.7K
82SUPERIOR DRILLING PRODS INCCOM0.21%$247,000301.1K
83VCSHVANGUARD SCOTTSDALE FDSSHRT TRM CORP BD0.21%$247,0003.0K
84PRKSSEAWORLD ENTMT INCCOM0.21%$245,0007.7K
85GENERAL ELECTRIC COCOM0.20%$228,00020.5K
86DINDINE BRANDS GLOBAL INCCOM0.19%$218,0002.6K
87BBCPCONCRETE PUMPING HLDGS INCCOM0.16%$189,00034.5K
88NOKNOKIA CORPSPONSORED ADR0.16%$189,00051.0K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q3 2021$82M98Oct 29, 202113F-HRchanges · EDGAR ↗
Q2 2021$86M94Aug 5, 202113F-HRchanges · EDGAR ↗
Q1 2021$85M90Apr 27, 202113F-HRchanges · EDGAR ↗
Q4 2020$73M81Feb 8, 202113F-HRchanges · EDGAR ↗
Q3 2020$72M75Nov 5, 202013F-HRchanges · EDGAR ↗
Q2 2020$76M75Aug 14, 202013F-HRchanges · EDGAR ↗
Q1 2020$72M86May 13, 202013F-HRchanges · EDGAR ↗
Q4 2019$115M88Feb 11, 202013F-HRchanges · EDGAR ↗
Q3 2019$115M96Nov 4, 201913F-HRchanges · EDGAR ↗
Q2 2019$139M100Aug 6, 201913F-HRchanges · EDGAR ↗
Q1 2019$161M100May 20, 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 ↗.