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) 722

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

Sector Weighting

Basic Materials 0.59%
Capital Goods 4.63%
Conglomerates
Consumer Cyclical 8.34%
Consumer/Non-Cyclical 3.82%
Energy 1.4%
Financial 32.98%
Healthcare 5.32%
Services 29.27%
Technology 9.94%
Transportation 1.78%
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
ALAMO GROUP INC COM 3,099 11 .37 68,815
ALCENTRA CAP CORP COM 1,254 1,254 New 96,615
ALTISOURCE PORTFOLIO SOLNS SA REG SHS 1,226 8 .66 58,144
ALTISOURCE RESIDENTIAL CORP CL B 3,401 1,192 53.97 202,660
AMERCO COM 6,525 1,480 29.33 22,416
ANTHEM INC COM 3,738 20 .53 27,985
ARBOR RLTY TR INC COM 5,599 2,204 64.91 803,305
ARES COML REAL ESTATE CORP COM 4,080 30 .73 338,015
AROTECH CORP COM NEW 575 575 New 250,000
ASCENT CAP GROUP INC COM SER A 4,705 29 .63 107,485
AWARE INC MASS COM 1,509 182 13.72 303,000
BARRETT BUSINESS SERVICES INC COM 3,618 2,491 221.12 122,025
BLACKROCK KELSO CAPITAL CORP COM 4,486 2,935 189.25 556,636
BLACKROCK MUN TARGET TERM TR COM SHS BEN IN 2,738 2,054 300.40 127,746
BLACKSTONE MTG TR INC COM CL A 5,063 1,674 49.40 173,519
BSB BANCORP INC MD COM 3,222 154 5.02 172,479
CALLAWAY GOLF CO COM 8,192 74 .91 1,052,982
CHIMERA INVT CORP COM 1,600 1,600 New 501,520
CINCINNATI BELL INC NEW COM 2,994 30 1.00 981,584
CLAYMORE EXCHANGE TRD FD TR GUGG SPINOFF ETF 3,360 5 .16 75,720