PUNCH & ASSOCIATES INVESTMENT MANAGEMENT, INC. Information

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

Report Date: 12/31/2013

Position Statistics

Total Positions 214
New Positions 12
Increased Positions 99
Decreased Positions 91
Positions with Activity 190
Sold Out Positions 41
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 0.74%
Capital Goods 4.97%
Conglomerates
Consumer Cyclical 7.72%
Consumer/Non-Cyclical 3.93%
Energy 2.9%
Financial 31.09%
Healthcare 5.88%
Services 29.69%
Technology 10.33%
Transportation 1.01%
Utilities 0.8%

99 INCREASED Positions as of 12/31/2013

Company Class Value of Shares ($1,000s) ▼ Change in Value ($1,000s) Change (%) Shares Held
ZIX CORP COM 2,329 34 1.47 600,217
HALLMARK FINL SVCS INC EC COM NEW 2,182 5 .22 258,575
ROYCE VALUE TR INC COM 2,040 80 4.06 129,508
CASCADE MICROTECH INC COM 1,997 1,227 159.39 200,951
ROCKY BRANDS INC COM 1,701 76 4.65 120,436
WEST MARINE INC COM 1,626 766 89.13 140,787
STRATTEC SEC CORP COM 1,542 1,542 New 21,467
KIRKLANDS INC COM 1,526 376 32.66 88,150
CIFC CORP COM 1,309 329 33.51 170,000
AWARE INC MASS COM 1,225 143 13.20 218,000
ROYCE MICRO-CAP TR INC COM 1,141 86 8.15 93,982
INVESTORS TITLE CO COM 1,066 124 13.18 14,600
HERITAGE FINL GROUP INC COM 1,027 1,027 New 53,038
AXCELIS TECHNOLOGIES INC COM 968 968 New 499,000
ARES COML REAL ESTATE CORP COM 641 641 New 49,600
BLACKROCK MUN TARGET TERM TR COM SHS BEN IN 619 619 New 31,245
IMAGE SENSING SYS INC COM 298 298 New 61,107
SUPREME INDS INC CL A 157 157 New 17,633
HUTCHINSON TECHNOLOGY INC COM 32 32 New 11,500