PUNCH & ASSOCIATES INVESTMENT MANAGEMENT, INC. Information

3601 W. 76TH STREET, EDINA, Minnesota, 55435, (952) 224-4350

Report Date: 09/30/2014

Position Statistics

Total Positions 180
New Positions 9
Increased Positions 85
Decreased Positions 68
Positions with Activity 153
Sold Out Positions 8
Total Mkt Value (in $ millions) 737

Institutional Holdings information is filed by major institutions on form 13-F with the Securities and Exchange Commission.

Sector Weighting

Basic Materials 0.6%
Capital Goods 4.54%
Conglomerates
Consumer Cyclical 8.37%
Consumer/Non-Cyclical 3.98%
Energy 1.48%
Financial 32.88%
Healthcare 5.24%
Services 29.37%
Technology 9.9%
Transportation 1.74%
Utilities 0.52%

85 INCREASED Positions as of 09/30/2014

Company Class Value of Shares ($1,000s) ▼ Change in Value ($1,000s) Change (%) Shares Held
JOURNAL COMMUNICATIONS INC CL A 13,158 48 .37 1,220,578
FRANKLIN COVEY CO COM 12,373 16 .13 665,575
PZENA INVESTMENT MGMT INC CLASS A 11,721 55 .47 1,351,954
TECHTARGET INC COM 10,631 32 .30 971,800
SPOK HLDGS INC COM 10,603 63 .60 585,147
INTL FCSTONE INC COM 10,510 39 .37 540,651
LENDINGTREE INC NEW COM 9,811 3,731 61.37 242,855
U S PHYSICAL THERAPY INC COM 9,716 261 2.76 244,486
DESTINATION XL GROUP INC COM 9,346 35 .38 1,839,832
HORACE MANN EDUCATORS CORP NEW COM 8,613 78 .91 274,140
ROUSE PPTYS INC COM 8,447 63 .75 442,701
CALLAWAY GOLF CO COM 8,340 75 .91 1,052,982
LITHIA MTRS INC CL A 8,198 48 .59 93,220
UNITED FINL BANCORP INC NEW COM 8,177 63 .78 594,661
NATURAL GAS SERVICES GROUP COM 8,093 30 .38 367,878
MVC CAPITAL INC COM 8,045 2,190 37.40 831,913
HACKETT GROUP INC COM 7,804 42 .54 991,600
NUVEEN BUILD AMER BD FD COM 7,716 193 2.57 354,928
MONOTYPE IMAGING HOLDINGS INC COM 7,209 46 .64 247,659
GDL FUND COM SH BEN IT 6,803 80 1.19 666,296