Punch & Associates Investment Management
EDINA, MNfiles as PUNCH & ASSOCIATES INVESTMENT MANAGEMENT, INC.
$2.0bn in 164 US stocks at the end of 30 June 2026. The top 10 are 23.0% of the money. It changed about 12.2% of the portfolio this quarter.
Value
$2.0bn
Stocks
164
Top 10 share
23.0%
Turnover
12.2%
What changed this quarter
New
Bought for the first time this quarter.
- ST JOEJOE1.2% of the fund
- Cohen & SteersCNS0.9% of the fund
- SalesforceCRM0.6% of the fund
- LSI IndustriesLYTS0.2% of the fund
- Journey MedicalDERM0.2% of the fund
- Firstsun Capital BancorpFSUN0.1% of the fund
- Park Dental PartnersPARK<0.1% of the fund
- ACRES Commercial RealtyACR<0.1% of the fund
- MiniMed GroupMMED<0.1% of the fund
- KnowlesKN<0.1% of the fund
- ChemedCHE<0.1% of the fund
- Ishares TRIXUS<0.1% of the fund
Added
Bought more of a stock they already held.
- Laureate EducationLAUR2.2% of the fund+6%
- Enova InternationalENVA1.9% of the fund+6%
- RadNetRDNT1.9% of the fund+6%
- Liquidity ServicesLQDT1.8% of the fund+4%
- TrimasTRS1.8% of the fund+230%
- SiriusPointSPNT1.8% of the fund+6%
- Douglas DynamicsPLOW1.8% of the fund+6%
- PricesmartPSMT1.7% of the fund+6%
- Cavco IndustriesCVCO1.6% of the fund+6%
- LendingTreeTREE1.6% of the fund+12%
- Green Brick PartnersGRBK1.5% of the fund+6%
- First Interstate BancsystemFIBK1.5% of the fund+6%
- Global Ship LeaseGSL1.4% of the fund+6%
- Jefferson CapitalJCAP1.4% of the fund+30%
- Vitesse EnergyVTS1.2% of the fund+19%
- i3 VerticalsIIIV1.2% of the fund+6%
- Addus HomeCareADUS1.0% of the fund+7%
- BlueLinx HoldingsBXC1.0% of the fund+4%
- Sprouts Farmers MarketSFM1.0% of the fund+13%
- Artisan Partners Asset ManagementAPAM1.0% of the fund+8%
- Viant TechnologyDSP0.9% of the fund+11%
- Legalzoom.comLZ0.9% of the fund+6%
- BrightView HoldingsBV0.8% of the fund+6%
- AgilysysAGYS0.8% of the fund+154%
- Hillman SolutionsHLMN0.8% of the fund+6%
Cut
Sold some of their stake.
- StoneX GroupSNEX4.1% of the fund-26%
- ArcosaACA2.5% of the fund-4%
- A10 NetworksATEN2.2% of the fund-19%
- Select Water SolutionsWTTR1.4% of the fund-6%
- NPK InternationalNPKI1.4% of the fund-4%
- PAR Pacific HoldingsPARR1.0% of the fund-9%
- Iqvia HoldingsIQV0.8% of the fund-5%
- PIMCO Dynamic Income Strategy FundPDX0.7% of the fund-18%
- Bunge Global SABG0.7% of the fund-28%
- Match GroupMTCH0.7% of the fund-9%
- R F IndustriesRFIL0.6% of the fund-29%
- ClearfieldCLFD0.5% of the fund-4%
- Lincoln Educational ServicesLINC0.5% of the fund-20%
- Carriage ServicesCSV0.5% of the fund-5%
- ElectromedELMD0.5% of the fund-3%
- Builders FirstSourceBLDR0.4% of the fund-22%
- NVENVEC0.4% of the fund-22%
- Republic ServicesRSG0.4% of the fund-8%
- Royce Micro-Cap TrustRMT0.4% of the fund-4%
- SS&C Technologies HoldingsSSNC0.3% of the fund-25%
- First Western FinancialMYFW0.3% of the fund-21%
- GrahamGHM0.3% of the fund-22%
- CiveoCVEO0.3% of the fund-8%
- RCM TechnologiesRCMT0.2% of the fund-5%
- Plumas BancorpPLBC0.2% of the fund-5%
Sold out
Sold their entire stake.
- Sila Realty Trust-100%
- Verra MobilityVRRM-100%
- Johnson & JohnsonJNJ-100%
- Avanos MED-100%
- Oracle-100%
- First Fndtn-100%
- Greenlight Capital REGLRE-100%
- BCP InvestmentBCIC-100%
- Grand Canyon EducationLOPE-100%
- Teladoc Health-100%
- Ishares TRSUSA-100%
Holdings
- Rentokil InitialRTO
- Share
- 0.9%
- Value
- $17m
- Shares
- 603,739
Held
- PIMCO Dynamic Income Strategy FundPDX
- Share
- 0.7%
- Value
- $15m
- Shares
- 701,289
-18%
- First Trust High Yield Opportunities 2027 Term FundFTHY
- Share
- 0.7%
- Value
- $13m
- Shares
- 966,836
+9%
- SeaSE
- Share
- 0.6%
- Value
- $13m
- Shares
- 132,705
Held
- Royce Micro-Cap TrustRMT
- Share
- 0.4%
- Value
- $8m
- Shares
- 522,665
-4%
- Boeing
- Share
- 0.3%
- Value
- $7m
- Shares
- 104,145
Held
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| StoneX GroupSNEX | 4.1% | $82m | 694,090 | -26% |
| ArcosaACA | 2.5% | $50m | 347,540 | -4% |
| Universal Technical InstituteUTI | 2.3% | $47m | 1,096,078 | Held |
| Laureate EducationLAUR | 2.2% | $45m | 1,240,072 | +6% |
| A10 NetworksATEN | 2.2% | $44m | 1,188,747 | -19% |
| Marvell TechnologyMRVL | 2.1% | $42m | 140,873 | Held |
| Enova InternationalENVA | 1.9% | $39m | 162,629 | +6% |
| RadNetRDNT | 1.9% | $39m | 633,272 | +6% |
| AlphabetGOOGL | 1.9% | $38m | 107,628 | Held |
| Liquidity ServicesLQDT | 1.8% | $37m | 954,735 | +4% |
| TrimasTRS | 1.8% | $36m | 807,292 | +230% |
| SiriusPointSPNT | 1.8% | $36m | 1,501,976 | +6% |
| Douglas DynamicsPLOW | 1.8% | $36m | 659,319 | +6% |
| Royalty PharmaRPRX | 1.7% | $34m | 597,938 | Held |
| PricesmartPSMT | 1.7% | $33m | 171,348 | +6% |
| Cavco IndustriesCVCO | 1.6% | $33m | 53,930 | +6% |
| LendingTreeTREE | 1.6% | $32m | 725,675 | +12% |
| Green Brick PartnersGRBK | 1.5% | $30m | 380,387 | +6% |
| First Interstate BancsystemFIBK | 1.5% | $30m | 778,006 | +6% |
| Select Water SolutionsWTTR | 1.4% | $29m | 1,435,415 | -6% |
| Global Ship LeaseGSL | 1.4% | $29m | 761,080 | +6% |
| Jefferson CapitalJCAP | 1.4% | $28m | 1,446,818 | +30% |
| NPK InternationalNPKI | 1.4% | $28m | 1,738,857 | -4% |
| Vitesse EnergyVTS | 1.2% | $25m | 1,586,924 | +19% |
| ST JOEJOE | 1.2% | $24m | 376,859 | New |
| i3 VerticalsIIIV | 1.2% | $23m | 1,099,486 | +6% |
| TidewaterTDW | 1.1% | $23m | 342,356 | Held |
| Addus HomeCareADUS | 1.0% | $21m | 208,135 | +7% |
| BlueLinx HoldingsBXC | 1.0% | $21m | 336,308 | +4% |
| Sprouts Farmers MarketSFM | 1.0% | $21m | 245,608 | +13% |
| Artisan Partners Asset ManagementAPAM | 1.0% | $21m | 594,780 | +8% |
| PAR Pacific HoldingsPARR | 1.0% | $19m | 345,115 | -9% |
| Viant TechnologyDSP | 0.9% | $19m | 1,501,487 | +11% |
| Cohen & SteersCNS | 0.9% | $18m | 240,160 | New |
| Legalzoom.comLZ | 0.9% | $17m | 2,850,501 | +6% |
| Rentokil InitialRTO | 0.9% | $17m | 603,739 | Held |
| PaysignPAYS | 0.8% | $17m | 2,073,580 | Held |
| BrightView HoldingsBV | 0.8% | $17m | 1,184,042 | +6% |
| AgilysysAGYS | 0.8% | $17m | 159,080 | +154% |
| Iqvia HoldingsIQV | 0.8% | $16m | 84,013 | -5% |
| MicrosoftMSFT | 0.8% | $16m | 43,112 | Held |
| Hillman SolutionsHLMN | 0.8% | $16m | 1,880,839 | +6% |
| MercadoLibreMELI | 0.8% | $16m | 9,288 | Held |
| Berkshire HathawayBRK-B | 0.8% | $16m | 31,198 | Held |
| CSW IndustrialsCSW | 0.7% | $15m | 54,288 | +6% |
| Steven MaddenSHOO | 0.7% | $15m | 357,620 | +6% |
| AmrizeAMRZ | 0.7% | $15m | 280,902 | +78% |
| KKRKKR | 0.7% | $15m | 161,910 | Held |
| JPMorgan ChaseJPM | 0.7% | $15m | 44,647 | Held |
| PIMCO Dynamic Income Strategy FundPDX | 0.7% | $15m | 701,289 | -18% |
| AlexandersALX | 0.7% | $14m | 51,409 | +152% |
| Bunge Global SABG | 0.7% | $14m | 131,519 | -28% |
| Thermo Fisher ScientificTMO | 0.7% | $14m | 27,170 | Held |
| First Trust High Yield Opportunities 2027 Term FundFTHY | 0.7% | $13m | 966,836 | +9% |
| Match GroupMTCH | 0.7% | $13m | 346,382 | -9% |
| BrightSpire CapitalBRSP | 0.6% | $13m | 2,395,950 | +4% |
| Climb Global SolutionsCLMB | 0.6% | $13m | 551,910 | Held |
| SeaSE | 0.6% | $13m | 132,705 | Held |
| R F IndustriesRFIL | 0.6% | $12m | 588,115 | -29% |
| Alamo GroupALG | 0.6% | $12m | 75,589 | +7% |
| EOG ResourcesEOG | 0.6% | $12m | 90,539 | Held |
| SalesforceCRM | 0.6% | $12m | 74,875 | New |
| Apollo Global ManagementAPO | 0.6% | $12m | 98,139 | Held |
| Legacy HousingLEGH | 0.6% | $11m | 427,665 | Held |
| UnitedHealth GroupUNH | 0.6% | $11m | 27,021 | Held |
| TargetTGT | 0.6% | $11m | 85,963 | Held |
| Walt DisneyDIS | 0.6% | $11m | 116,186 | Held |
| ClearfieldCLFD | 0.5% | $11m | 277,610 | -4% |
| Kinder MorganKMI | 0.5% | $11m | 331,678 | Held |
| Piedmont Realty TrustPDM | 0.5% | $11m | 1,153,153 | +110% |
| American Public EducationAPEI | 0.5% | $10m | 195,000 | Held |
| Innovative Solutions & SupportIA | 0.5% | $10m | 569,963 | +10% |
| Waste ManagementWM | 0.5% | $10m | 45,755 | Held |
| Lincoln Educational ServicesLINC | 0.5% | $10m | 200,550 | -20% |
| Carriage ServicesCSV | 0.5% | $10m | 249,404 | -5% |
| Northrim BancorpNRIM | 0.5% | $10m | 342,960 | +5% |
| Tactile Systems TechnologyTCMD | 0.5% | $9m | 315,000 | +5% |
| ArhausARHS | 0.5% | $9m | 1,110,755 | Held |
| ElectromedELMD | 0.5% | $9m | 218,520 | -3% |
| Bridgewater BancsharesBWB | 0.5% | $9m | 434,660 | Held |
| Elevance HealthELV | 0.4% | $9m | 23,223 | Held |
| American Coastal InsuranceACIC | 0.4% | $9m | 808,705 | Held |
| Builders FirstSourceBLDR | 0.4% | $9m | 100,211 | -22% |
| Ulta BeautyULTA | 0.4% | $9m | 19,723 | Held |
| DeereDE | 0.4% | $9m | 13,825 | Held |
| OracleORCL | 0.4% | $9m | 59,742 | Held |
| NVENVEC | 0.4% | $8m | 81,215 | -22% |
| Republic ServicesRSG | 0.4% | $8m | 38,646 | -8% |
| Blackstone Mortgage TrustBXMT | 0.4% | $8m | 476,188 | Held |
| InfuSystem HoldingsINFU | 0.4% | $8m | 834,750 | Held |
| Cass Information SystemsCASS | 0.4% | $8m | 156,527 | +38% |
| Mimedx GroupMDXG | 0.4% | $8m | 2,058,089 | Held |
| Ares CapitalARCC | 0.4% | $8m | 425,878 | +9% |
| Miller IndustriesMLR | 0.4% | $8m | 153,070 | +39% |
| Royce Micro-Cap TrustRMT | 0.4% | $8m | 522,665 | -4% |
| TranscatTRNS | 0.4% | $7m | 80,087 | +24% |
| Natures Sunshine ProductsNATR | 0.4% | $7m | 340,000 | Held |
| Idaho Strategic ResourcesIDR | 0.4% | $7m | 222,220 | +7% |
| Boeing | 0.3% | $7m | 104,145 | Held |
| SS&C Technologies HoldingsSSNC | 0.3% | $7m | 111,173 | -25% |
Showing the largest 100 of 164.
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is up 25.3% since 30 June 2025.
Where the money is
Financial services19.4%
Technology19.4%
Industrials14.8%
Retail & consumer12.6%
Health care10.3%
Energy4.9%
Materials4.2%
Real estate3.5%
Everyday goods3.2%
Media & telecom2.5%
Utilities0.3%
Other4.9%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.