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 179
New Positions 9
Increased Positions 85
Decreased Positions 68
Positions with Activity 153
Sold Out Positions 8
Total Mkt Value (in $ millions) 728

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 4.7%
Conglomerates
Consumer Cyclical 8.47%
Consumer/Non-Cyclical 3.79%
Energy 1.4%
Financial 32.88%
Healthcare 5.35%
Services 29.17%
Technology 9.94%
Transportation 1.77%
Utilities 0.53%

85 INCREASED Positions as of 09/30/2014

Company Class Value of Shares ($1,000s) ▼ Change in Value ($1,000s) Change (%) Shares Held
AMERCO COM 6,504 1,475 29.33 22,416
FIVE STAR QUALITY CARE INC COM 6,476 18 .28 1,750,194
SCRIPPS E W CO OHIO CL A NEW 6,407 61 .96 309,233
MACQUARIE INFRASTR CO LLC MEMBERSHIP INT 6,373 339 5.62 88,421
COURIER CORP COM 6,100 .01 257,489
HOME LN SERVICING SOLUTIONS LT ORD SHS 6,007 232 4.01 488,796
HONG KONG TELEVISION NETWK LTD SPONSORED ADR 5,792 32 .56 657,380
DATALINK CORP COM 5,790 28 .48 483,745
ARBOR RLTY TR INC COM 5,623 2,213 64.91 803,305
DICE HLDGS INC COM 5,492 1,688 44.39 624,048
TRUEBLUE INC COM 5,441 25 .46 266,822
NUVEEN MTG OPPORTUNITY TERM FD COM 5,407 2,564 90.19 231,059
ENSTAR GROUP LIMITED SHS 5,304 48 .91 38,874
BLACKSTONE MTG TR INC COM CL A 5,086 1,682 49.40 173,519
CLOUGH GLOBAL OPPORTUNITIES FD SH BEN INT 5,083 88 1.76 422,910
MAGELLAN HEALTH INC COM NEW 5,033 37 .73 83,186
NUVEEN PFD & INCOME TERM FD COM 4,957 216 4.55 212,311
MADDEN STEVEN LTD COM 4,901 25 .51 139,357
CORENERGY INFRASTRUCTURE TR IN COM 4,838 133 2.82 723,118
ASCENT CAP GROUP INC COM SER A 4,714 29 .63 107,485