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) 707

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

Sector Weighting

Basic Materials 0.7%
Capital Goods 4.98%
Conglomerates
Consumer Cyclical 7.74%
Consumer/Non-Cyclical 3.98%
Energy 2.91%
Financial 31.01%
Healthcare 5.85%
Services 29.73%
Technology 10.37%
Transportation 0.98%
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
HALLMARK FINL SVCS INC EC COM NEW 2,092 5 .22 258,575
BSB BANCORP INC MD COM 2,823 6 .21 164,230
PZENA INVESTMENT MGMT INC CLASS A 15,296 29 .19 1,399,484
HUTCHINSON TECHNOLOGY INC COM 32 32 New 11,500
ZIX CORP COM 2,401 35 1.47 600,217
FIRST BUS FINL SVCS INC WIS COM 4,361 59 1.38 92,044
SOLAR CAP LTD COM 3,520 67 1.95 161,818
COHEN & STEERS CLOSED END OPPO COM 3,871 68 1.78 302,888
ROYCE VALUE TR INC COM 1,971 77 4.06 129,508
ROCKY BRANDS INC COM 1,742 77 4.65 120,436
ROYCE MICRO-CAP TR INC COM 1,110 84 8.15 93,982
XCEL ENERGY INC COM 2,918 87 3.07 95,400
OTTER TAIL CORP COM 2,774 88 3.27 94,595
ALTISOURCE RESIDENTIAL CORP CL B 3,537 105 3.07 127,468
INVESTORS TITLE CO COM 1,032 120 13.18 14,600
CLOUGH GLOBAL EQUITY FD COM 4,771 128 2.75 322,770
AWARE INC MASS COM 1,258 147 13.20 218,000
SUPREME INDS INC CL A 147 147 New 17,633
REDWOOD TR INC COM 4,122 147 3.71 205,708
SELECT INCOME REIT COM SH BEN INT 5,387 151 2.89 178,617