PUNCH & ASSOCIATES INVESTMENT MANAGEMENT, INC.
Long book
$1.73B
Q1 2026
Positions
163
Top-10 weight
22%
concentration
Last quarter
+15.6%
SPY +14.8%
Turnover
20%
of book per quarter
Strategy in plain words
auto-generated from filingsPUNCH & ASSOCIATES INVESTMENT MANAGEMENT, INC. is an institutional manager, running a $1.73B US long book across 163 positions.
The portfolio is broadly diversified across 163 positions (top 10 only 22%). Turnover is modest: positions are typically held for years. Current anchor positions: STONEX GROUP INC, LAUREATE EDUCATION INC, UNIVERSAL TECHNICAL INSTITUT, ARCOSA INC, A10 NETWORKS INC.
Over the last 9 quarters its long book ran on average 1.2pp per quarter behind the S&P 500, beating the index in 3 of 9 quarters. Signal value of individual moves is limited — treat changes as weak evidence.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
-2.2%
Q2 2024
+7.4%
Q3 2024
+1.9%
Q4 2024
-7.0%
Q1 2025
+7.0%
Q2 2025
+7.1%
Q3 2025
-0.9%
Q4 2025
+0.9%
Q1 2026
+15.6%
Sector allocation
Financials 21%
Services media 15%
Technology 15%
Industrials 14%
Healthcare 10%
Consumer discretionary 7%
Other 7%
Energy 5%
Long book by quarter
What does PUNCH & own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| SNEX STONEX GROUP INC | Financials | 943.6K | $76.1M | 4.4% | +33.3% |
| LAUR LAUREATE EDUCATION INC | Services media | 1.2M | $40.9M | 2.4% | -7.8% |
| UTI UNIVERSAL TECHNICAL INSTITUT | Services media | 1.1M | $38.9M | 2.2% | -7.9% |
| ACA ARCOSA INC | Industrials | 362.3K | $38.5M | 2.2% | +0.2% |
| ATEN A10 NETWORKS INC | Technology | 1.5M | $33.8M | 1.9% | +1.7% |
| RDNT RADNET INC | Healthcare | 595.3K | $33.3M | 1.9% | -8.6% |
| GOOGL ALPHABET INC-CL A | Technology | 107.3K | $30.9M | 1.8% | -18.5% |
| SPNT SIRIUSPOINT LTD | Financials | 1.4M | $30.5M | 1.8% | +1.8% |
| TDW TIDEWATER INC | Industrials | 347.9K | $29.1M | 1.7% | +4.3% |
| RPRX ROYALTY PHARMA PLC- CL A | Healthcare | 598.6K | $28.7M | 1.7% | -0.3% |
| LQDT LIQUIDITY SERVICES INC | Services media | 920.4K | $28.1M | 1.6% | +1.1% |
| TREE LENDINGTREE INC | Financials | 647.0K | $27.7M | 1.6% | +37.8% |
| GSL GLOBAL SHIP LEASE INC-CL A | Industrials | 718.1K | $26.7M | 1.5% | -26.1% |
| NPKI NPK INTERNATIONAL INC | Services media | 1.8M | $26.4M | 1.5% | -1.8% |
| PLOW DOUGLAS DYNAMICS INC | Industrials | 621.8K | $26.2M | 1.5% | +1.2% |
| CVCO CAVCO INDUSTRIES INC | Other | 51.0K | $24.7M | 1.4% | +21.3% |
| FIBK FIRST INTERSTATE BANCSYS-A | Financials | 735.4K | $24.6M | 1.4% | +1.6% |
| PSMT PRICESMART INC | Consumer discretionary | 162.2K | $24.4M | 1.4% | +1.6% |
| VTS VITESSE ENERGY INC | Energy | 1.3M | $24.2M | 1.4% | -7.3% |
| PARR PAR PACIFIC HOLDINGS INC | Energy | 377.2K | $23.6M | 1.4% | -35.1% |
| WTTR SELECT WATER SOLUTIONS INC | Energy | 1.5M | $23.4M | 1.3% | +1.8% |
| BG BUNGE GLOBAL SA | Consumer staples | 182.2K | $23.2M | 1.3% | -4.1% |
| GRBK GREEN BRICK PARTNERS INC | Industrials | 358.3K | $23.1M | 1.3% | +1.7% |
| IIIV I3 VERTICALS INC-CLASS A | Technology | 1.0M | $23.1M | 1.3% | +32.8% |
| JCAP JEFFERSON CAPITAL INC | Financials | 1.1M | $21.5M | 1.2% | New |
| ENVA ENOVA INTERNATIONAL INC | Financials | 153.5K | $20.8M | 1.2% | +1.9% |
| APAM ARTISAN PARTNERS ASSET MA -A | Financials | 551.3K | $20.1M | 1.2% | +25.9% |
| ADUS ADDUS HOMECARE CORP | Healthcare | 193.9K | $18.2M | 1.0% | +6.0% |
| BXC BLUELINX HOLDINGS INC | Consumer discretionary | 321.9K | $17.4M | 1.0% | +2.1% |
| SFM SPROUTS FARMERS MARKET INC | Consumer discretionary | 217.6K | $16.8M | 1.0% | +26.1% |
| VRRM VERRA MOBILITY CORP | Industrials | 1.1M | $16.4M | 0.9% | +1.7% |
| MELI MERCADOLIBRE INC | Services media | 9.4K | $16.2M | 0.9% | +9.3% |
| MSFT MICROSOFT CORP | Technology | 43.0K | $15.9M | 0.9% | +16.5% |
| LZ LEGALZOOMCOM INC | Technology | 2.7M | $15.2M | 0.9% | +2.4% |
| IQV IQVIA HOLDINGS INC | Healthcare | 88.5K | $15.1M | 0.9% | +0.1% |
| DSP VIANT TECHNOLOGY INC-A | Technology | 1.3M | $15.1M | 0.9% | +16.4% |
| KKR KKR & CO INC | Financials | 161.6K | $14.9M | 0.9% | +0.1% |
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 31.1K | $14.9M | 0.9% | +0.1% |
| HLMN HILLMAN SOLUTIONS CORP | Industrials | 1.8M | $14.8M | 0.9% | +1.7% |
| MRVL MARVELL TECHNOLOGY INC | Technology | 140.1K | $13.9M | 0.8% | +80.6% |
| TMO THERMO FISHER SCIENTIFIC INC | Other | 27.3K | $13.4M | 0.8% | +0.1% |
| CSW CSW INDUSTRIALS INC | Other | 51.0K | $13.3M | 0.8% | +1.9% |
| BV BRIGHTVIEW HOLDINGS INC | Consumer staples | 1.1M | $13.2M | 0.8% | +2.0% |
| JPM JPMORGAN CHASE & CO | Financials | 44.5K | $13.1M | 0.8% | -3.4% |
| EOG EOG RESOURCES INC | Energy | 90.3K | $13.1M | 0.8% | +0.5% |
| PAYS PAYSIGN INC | Services media | 2.1M | $12.1M | 0.7% | +40.7% |
| CSV CARRIAGE SERVICES INC | Services media | 263.8K | $12.0M | 0.7% | +6.9% |
| ALG ALAMO GROUP INC | Industrials | 70.9K | $11.7M | 0.7% | +1.4% |
| MTCH MATCH GROUP INC | Technology | 380.0K | $11.7M | 0.7% | +3.5% |
| SHOO STEVEN MADDEN LTD | Other | 337.1K | $11.4M | 0.7% | +1.5% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 163 | $1.73B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 156 | $1.71B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 160 | $1.73B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 163 | $1.63B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 164 | $1.53B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 168 | $1.83B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 169 | $1.81B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 175 | $1.71B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 15, 2024 | 176 | $1.76B | canonical | SEC ↗ |
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