Punch & Associates Investment Management, Inc. Buys Barings BDC Inc, iShares Core MSCI Europe ETF, Ready Capital Corp, Sells Barings BDC Inc, Reaves Utility Income Fund, Nautilus Inc

• New Purchases: BBDC, IEUR, RC, RESI, SFE, XAN, KJ7, APPS, PLBC, ZYXI, VEA, PDEX, SPY, VWO, INFU,
• Added Positions: FARM, BXC, RNET, AMOT, HCFT, HQH, DHX, WY, KINS, SBFG, LUNA, GEC, ELY, VISI, IEC, DGII, PRGX, PARR, ARC, ETSY, ELMD, PLOW, BRID, CYBE, MBUU, CMCO, NOVT, NTIC, VZ, VREX, WM, RSG, USPH, RMT, UTX, SSP, WTTR, SNBR, SSNC, TGT, TURN, ACN, AIRG, ALG, AMP, ANTM, BRK.B, CPHC, CARB, DLX, DIS, ETG, FDEU, FIF, THRM, JPM, KE, SHOO, XOM, CVS, BC, HRL, ORCL, ISDR,
• Reduced Positions: CSWI, LAD, SLP, CPTA, ADUS, SSFN, TREE, ALOT, OUT, DWSN, SAMG, IEMG, SHY, HWCC, BANX, LAWS, CIM, OCSI, IVE, TRNS, BHB, RVT, PCSB, JLS, HCCI, CVGI, PG, BCX, KMB, JYNT, GL, JOF, GECC,
• Sold Out: TRY, UTG, NLS, ENFC, AFH, BKCC, MRBK, PMD, PIH, OEF, LAZY,

For the details of PUNCH & ASSOCIATES INVESTMENT MANAGEMENT, INC.'s stock buys and sells, go to https://www.gurufocus.com/guru/punch+%26+associates+investment+management%2C+inc./current-portfolio/portfolio

1. B. Riley Financial Inc (RILY) - 1,530,869 shares, 2.69% of the total portfolio. Shares added by 0.68%
2. Capital Southwest Corp (CSWC) - 1,484,956 shares, 2.62% of the total portfolio. Shares reduced by 0.75%
3. INTL FCStone Inc (INTL) - 601,740 shares, 2.01% of the total portfolio. Shares added by 0.57%
4. iShares S&P 500 Growth ETF (IVW) - 113,675 shares, 1.72% of the total portfolio. Shares added by 0.27%
5. Barings BDC Inc (BBDC) - 1,856,370 shares, 1.54% of the total portfolio. New Position

Punch & Associates Investment Management, Inc. initiated holding in Barings BDC Inc. The purchase prices were between $9.81 and $10.33, with an estimated average price of $9.97. The stock is now traded at around $9.86. The impact to a portfolio due to this purchase was 1.54%. The holding were 1,856,370 shares as of .

Punch & Associates Investment Management, Inc. initiated holding in iShares Core MSCI Europe ETF. The purchase prices were between $43.78 and $46.6, with an estimated average price of $45.52. The stock is now traded at around $43.86. The impact to a portfolio due to this purchase was 0.9%. The holding were 228,127 shares as of .

Punch & Associates Investment Management, Inc. initiated holding in Ready Capital Corp. The purchase prices were between $14.36 and $15.35, with an estimated average price of $14.81. The stock is now traded at around $14.95. The impact to a portfolio due to this purchase was 0.27%. The holding were 215,785 shares as of .

Punch & Associates Investment Management, Inc. initiated holding in Front Yard Residential Corp. The purchase prices were between $9.41 and $12.44, with an estimated average price of $10.82. The stock is now traded at around $11.12. The impact to a portfolio due to this purchase was 0.23%. The holding were 226,665 shares as of .

Punch & Associates Investment Management, Inc. initiated holding in Safeguard Scientifics Inc. The purchase prices were between $10.79 and $12.69, with an estimated average price of $11.7. The stock is now traded at around $12.05. The impact to a portfolio due to this purchase was 0.21%. The holding were 201,576 shares as of .

Punch & Associates Investment Management, Inc. initiated holding in Exantas Capital Corp. The purchase prices were between $10.6 and $11.51, with an estimated average price of $11.03. The stock is now traded at around $11.35. The impact to a portfolio due to this purchase was 0.16%. The holding were 170,765 shares as of .

Punch & Associates Investment Management, Inc. added to a holding in Farmer Bros Co by 49.41%. The purchase prices were between $15.92 and $21.82, with an estimated average price of $19.09. The stock is now traded at around $12.77. The impact to a portfolio due to this purchase was 0.25%. The holding were 542,737 shares as of .

Punch & Associates Investment Management, Inc. added to a holding in BlueLinx Holdings Inc by 35.82%. The purchase prices were between $18.55 and $27.07, with an estimated average price of $22.84. The stock is now traded at around $27.58. The impact to a portfolio due to this purchase was 0.21%. The holding were 473,420 shares as of .

Punch & Associates Investment Management, Inc. added to a holding in RigNet Inc by 46.89%. The purchase prices were between $7.58 and $10.53, with an estimated average price of $9.23. The stock is now traded at around $7.74. The impact to a portfolio due to this purchase was 0.2%. The holding were 746,560 shares as of .

Punch & Associates Investment Management, Inc. added to a holding in Allied Motion Technologies Inc by 46.35%. The purchase prices were between $32.47 and $40.42, with an estimated average price of $35.95. The stock is now traded at around $33.40. The impact to a portfolio due to this purchase was 0.16%. The holding were 162,401 shares as of .

Punch & Associates Investment Management, Inc. added to a holding in Tekla Healthcare Investors by 22.70%. The purchase prices were between $18.85 and $20.79, with an estimated average price of $19.75. The stock is now traded at around $19.47. The impact to a portfolio due to this purchase was 0.14%. The holding were 437,162 shares as of .

Punch & Associates Investment Management, Inc. added to a holding in Hunt Companies Finance Trust Inc by 274.55%. The purchase prices were between $3.26 and $3.55, with an estimated average price of $3.43. The stock is now traded at around $3.24. The impact to a portfolio due to this purchase was 0.14%. The holding were 655,460 shares as of .

Punch & Associates Investment Management, Inc. sold out a holding in Barings BDC Inc. The sale prices were between $8.5 and $9.18, with an estimated average price of $8.69.

Punch & Associates Investment Management, Inc. sold out a holding in Reaves Utility Income Fund. The sale prices were between $33.56 and $35.87, with an estimated average price of $34.55.

Punch & Associates Investment Management, Inc. sold out a holding in Nautilus Inc. The sale prices were between $2.15 and $5.92, with an estimated average price of $3.95.

Punch & Associates Investment Management, Inc. sold out a holding in Entegra Financial Corp. The sale prices were between $22.76 and $30.12, with an estimated average price of $28.04.

Punch & Associates Investment Management, Inc. sold out a holding in Atlas Financial Holdings Inc. The sale prices were between $0.61 and $2.46, with an estimated average price of $1.12.

Punch & Associates Investment Management, Inc. sold out a holding in BlackRock Capital Investment Corp. The sale prices were between $5.95 and $6.26, with an estimated average price of $6.12.