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) 755

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

Sector Weighting

Basic Materials 0.64%
Capital Goods 4.57%
Conglomerates
Consumer Cyclical 7.95%
Consumer/Non-Cyclical 3.99%
Energy 1.47%
Financial 33.28%
Healthcare 5.19%
Services 29.52%
Technology 9.97%
Transportation 1.63%
Utilities 0.5%

180 Positions as of 09/30/2014

Company Class ▲ Value of Shares ($1,000s) Change in Value ($1,000s) Change (%) Shares Held
ISHARES TR 1-3 YR TR BD ETF 270 -92 (25.38) 3,205
JOURNAL COMMUNICATIONS INC CL A 13,939 51 .37 1,220,578
LITHIA MTRS INC CL A 8,309 49 .59 93,220
SALEM COMMUNICATIONS CORP DEL CL A 3,439 -27 (0.79) 441,474
SILVERCREST ASSET MGMT GROUP I CL A 3,235 1,231 61.46 209,900
SUPREME INDS INC CL A 2,110 New 279,900
SCRIPPS E W CO OHIO CL A NEW 6,899 66 .96 309,233
ALTISOURCE RESIDENTIAL CORP CL B 3,769 1,321 53.97 202,660
PZENA INVESTMENT MGMT INC CLASS A 12,357 58 .47 1,351,954
3M CO COM 2,105 New 12,614
AGILYSYS INC COM 3,178 New 253,000
ALAMO GROUP INC COM 3,376 12 .37 68,815
ALCENTRA CAP CORP COM 1,256 1,256 New 96,615
AMERCO COM 6,306 1,430 29.33 22,416
AMERIPRISE FINL INC COM 4,702 -34 (0.72) 34,385
ANTHEM INC COM 3,552 19 .53 27,985
ARBOR RLTY TR INC COM 5,438 2,141 64.91 803,305
ARES COML REAL ESTATE CORP COM 4,016 29 .73 338,015
AWARE INC MASS COM 1,345 162 13.72 303,000
AXCELIS TECHNOLOGIES INC COM -1,213 Sold Out 0