President

0001398344-23-019757.txt : 20231026 0001398344-23-019757.hdr.sgml : 20231026 20231026111939 ACCESSION NUMBER: 0001398344-23-019757 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20230930 FILED AS OF DATE: 20231026 DATE AS OF CHANGE: 20231026 EFFECTIVENESS DATE: 20231026 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUNCH & ASSOCIATES INVESTMENT MANAGEMENT, INC. CENTRAL INDEX KEY: 0001238990 IRS NUMBER: 820566501 STATE OF INCORPORATION: MN FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-10972 FILM NUMBER: 231348184 BUSINESS ADDRESS: STREET 1: 7701 FRANCE AVE. SOUTH STREET 2: SUITE 300 CITY: EDINA STATE: MN ZIP: 55435 BUSINESS PHONE: 9522244350 MAIL ADDRESS: STREET 1: 7701 FRANCE AVE. SOUTH STREET 2: SUITE 300 CITY: EDINA STATE: MN ZIP: 55435 FORMER COMPANY: FORMER CONFORMED NAME: BRIDGEWATER CAPITAL ADVISORS INC DATE OF NAME CHANGE: 20030605 13F-HR 1 primary_doc.xml X0202 13F-HR LIVE false false false 0001238990 XXXXXXXX 09-30-2023 09-30-2023 false PUNCH & ASSOCIATES INVESTMENT MANAGEMENT, INC.

7701 FRANCE AVE. SOUTH SUITE 300 EDINA MN 55435

13F HOLDINGS REPORT 028-10972 000117962 801-61205 N Howard D. Punch, Jr. President 952-224-4350 /s/ Howard D. Punch, Jr. Edina MN 10-24-2023 0 231 1561322320 INFORMATION TABLE 2 fp0085396-1_13fhr-table.xml 180 DEGREE CAP CORP COM NEW 68235B208 3171168 747917 SH SOLE 0 0 747917 3M CO COM 88579Y101 1697796 18135 SH SOLE 0 0 18135 A10 NETWORKS INC COM 002121101 17437977 1160211 SH SOLE 0 0 1160211 ABBOTT LABS COM 002824100 207453 2142 SH SOLE 0 0 2142 ABBVIE INC COM 00287Y109 335385 2250 SH SOLE 0 0 2250 ACCENTURE PLC IRELAND SHS CLASS A G1151C101 10775508 35087 SH SOLE 0 0 35087 ACRES COMMERCIAL REALTY CORP COM NEW 00489Q102 5902965 711192 SH SOLE 0 0 711192 ADDUS HOMECARE CORP COM 006739106 11817932 138724 SH SOLE 0 0 138724 AGILYSYS INC COM 00847J105 8472119 128055 SH SOLE 0 0 128055 AGNC INVT CORP COM 00123Q104 8556222 906379 SH SOLE 0 0 906379 ALAMO GROUP INC COM 011311107 11697403 67670 SH SOLE 0 0 67670 ALLIENT INC COM 019330109 9710333 314047 SH SOLE 0 0 314047 ALPHABET INC CAP STK CL A 02079K305 14915900 113984 SH SOLE 0 0 113984 ALPHABET INC CAP STK CL C 02079K107 1075909 8160 SH SOLE 0 0 8160 ALPS ETF TR ALERIAN MLP 00162Q452 9568878 226751 SH SOLE 0 0 226751 ALTA EQUIPMENT GROUP INC COMMON STOCK 02128L106 9892535 820277 SH SOLE 0 0 820277 AMERIPRISE FINL INC COM 03076C106 11376129 34507 SH SOLE 0 0 34507 AMES NATL CORP COM 031001100 735971 44362 SH SOLE 0 0 44362 AMGEN INC COM 031162100 241884 900 SH SOLE 0 0 900 APPLE INC COM 037833100 1941288 11339 SH SOLE 0 0 11339 ARBOR REALTY TRUST INC COM 038923108 615145 40523 SH SOLE 0 0 40523 ARCOSA INC COM 039653100 24059403 334623 SH SOLE 0 0 334623 ARHAUS INC COM CL A 04035M102 6016077 646890 SH SOLE 0 0 646890 ARLINGTON ASSET INVST CORP CL A NEW 041356205 6248800 1460000 SH SOLE 0 0 1460000 ASTRONOVA INC COM 04638F108 6202312 496185 SH SOLE 0 0 496185 AT&T INC COM 00206R102 6663858 443666 SH SOLE 0 0 443666 AVIAT NETWORKS INC COM NEW 05366Y201 15518350 497383 SH SOLE 0 0 497383 AVID BIOSERVICES INC COM 05368M106 11201871 1186639 SH SOLE 0 0 1186639 B. RILEY FINANCIAL INC COM 05580M108 31809042 776020 SH SOLE 0 0 776020 BANK AMERICA CORP COM 060505104 322153 11766 SH SOLE 0 0 11766 BAR HBR BANKSHARES COM 066849100 8966146 379439 SH SOLE 0 0 379439 BARINGS BDC INC COM 06759L103 13647185 1531671 SH SOLE 0 0 1531671 BCE INC COM NEW 05534B760 5875456 153929 SH SOLE 0 0 153929 BERKSHIRE HATHAWAY INC DEL CL A 084670108 1062954 2 SH SOLE 0 0 2 BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 15501569 44252 SH SOLE 0 0 44252 BLACKSTONE SECD LENDING FD COMMON STOCK 09261X102 7983778 291805 SH SOLE 0 0 291805 BLUELINX HLDGS INC COM NEW 09624H208 39352399 479381 SH SOLE 0 0 479381 BOEING CO COM 097023105 7642287 39870 SH SOLE 0 0 39870 BOSTON SCIENTIFIC CORP COM 101137107 417701 7911 SH SOLE 0 0 7911 BRIDGEWATER BANCSHARES INC COM 108621103 6202764 654300 SH SOLE 0 0 654300 BRIGHTSPIRE CAPITAL INC COM CL A 10949T109 452911 72350 SH SOLE 0 0 72350 BRIGHTVIEW HLDGS INC COM 10948C107 11351340 1464689 SH SOLE 0 0 1464689 BRISTOL-MYERS SQUIBB CO COM 110122108 246496 4247 SH SOLE 0 0 4247 BRUNSWICK CORP COM 117043109 9450362 119625 SH SOLE 0 0 119625 BUILDERS FIRSTSOURCE INC COM 12008R107 16547342 132921 SH SOLE 0 0 132921 CAPITAL SOUTHWEST CORP COM 140501107 17714554 773561 SH SOLE 0 0 773561 CARRIER GLOBAL CORPORATION COM 14448C104 7877518 142709 SH SOLE 0 0 142709 CAVCO INDS INC DEL COM 149568107 6281265 23644 SH SOLE 0 0 23644 CELCUITY INC COM 15102K100 548400 60000 SH SOLE 0 0 60000 CHARLES & COLVARD LTD COM 159765106 1060819 1853931 SH SOLE 0 0 1853931 CHEVRON CORP NEW COM 166764100 494596 2933 SH SOLE 0 0 2933 CINTAS CORP COM 172908105 9717388 20202 SH SOLE 0 0 20202 CION INVT CORP COM 17259U204 17232615 1630333 SH SOLE 0 0 1630333 CIVEO CORP CDA COM NEW 17878Y207 6588471 317823 SH SOLE 0 0 317823 CIVITAS RESOURCES INC COM NEW 17888H103 17437127 215619 SH SOLE 0 0 215619 CLIMB GLOBAL SOLUTIONS INC COM 946760105 7267226 168966 SH SOLE 0 0 168966 COASTAL FINL CORP WA COM NEW 19046P209 2231320 52000 SH SOLE 0 0 52000 COCA COLA CO COM 191216100 223920 4000 SH SOLE 0 0 4000 COLUMBUS MCKINNON CORP N Y COM 199333105 10857518 311015 SH SOLE 0 0 311015 COSTCO WHSL CORP NEW COM 22160K105 232199 411 SH SOLE 0 0 411 CSW INDUSTRIALS INC COM 126402106 14988642 85532 SH SOLE 0 0 85532 CVS HEALTH CORP COM 126650100 5926116 84877 SH SOLE 0 0 84877 DEERE & CO COM 244199105 9098287 24109 SH SOLE 0 0 24109 DHI GROUP INC COM 23331S100 7396687 2417218 SH SOLE 0 0 2417218 DIAMOND HILL INVT GROUP INC COM NEW 25264R207 4129965 24500 SH SOLE 0 0 24500 DIGI INTL INC COM 253798102 11779715 436286 SH SOLE 0 0 436286 DISNEY WALT CO COM 254687106 9604720 118504 SH SOLE 0 0 118504 DISTRIBUTION SOLUTIONS GRP I COM 520776105 9393228 361278 SH SOLE 0 0 361278 DLH HLDGS CORP COM 23335Q100 6754514 578793 SH SOLE 0 0 578793 DOCGO INC COM 256086109 10955063 2055359 SH SOLE 0 0 2055359 DOUGLAS DYNAMICS INC COM 25960R105 11008853 364773 SH SOLE 0 0 364773 EASTERLY GOVT PPTYS INC COM 27616P103 2995543 262077 SH SOLE 0 0 262077 ELECTROMED INC COM 285409108 4352329 418896 SH SOLE 0 0 418896 ELEVANCE HEALTH INC COM 036752103 10615524 24380 SH SOLE 0 0 24380 EMERSON ELEC CO COM 291011104 302457 3132 SH SOLE 0 0 3132 ENSTAR GROUP LIMITED SHS G3075P101 10868425 44911 SH SOLE 0 0 44911 EOG RES INC COM 26875P101 10010209 78970 SH SOLE 0 0 78970 EPSILON ENERGY LTD COM 294375209 1480591 280415 SH SOLE 0 0 280415 EQUITY COMWLTH COM SH BEN INT 294628102 70894 3859 SH SOLE 0 0 3859 EQUITY COMWLTH 6.5% CNV PFD D 294628201 1898334 75903 SH SOLE 0 0 75903 ETSY INC COM 29786A106 4860003 75256 SH SOLE 0 0 75256 EVOLUTION PETE CORP COM 30049A107 3247427 474770 SH SOLE 0 0 474770 FASTENAL CO COM 311900104 222713 4076 SH SOLE 0 0 4076 FIRST TR HIGH YIELD OPPRT 20 COM 33741Q107 11874053 891445 SH SOLE 0 0 891445 FIRST WESTN FINL INC COM 33751L105 5191572 286037 SH SOLE 0 0 286037 FISERV INC COM 337738108 11820325 104642 SH SOLE 0 0 104642 FLEXSTEEL INDS INC COM 339382103 3752079 180736 SH SOLE 0 0 180736 FRANKLIN COVEY CO COM 353469109 25941978 604426 SH SOLE 0 0 604426 GAMBLING COM GROUP LIMITED ORDINARY SHARES G3R239101 6193707 473525 SH SOLE 0 0 473525 GENTHERM INC COM 37253A103 8314571 153236 SH SOLE 0 0 153236 GLOBAL SHIP LEASE INC NEW COM CL A Y27183600 35052685 1911270 SH SOLE 0 0 1911270 GLOBE LIFE INC COM 37959E102 479499 4410 SH SOLE 0 0 4410 GREEN BRICK PARTNERS INC COM 392709101 19040160 458688 SH SOLE 0 0 458688 GREENLIGHT CAPITAL RE LTD CLASS A G4095J109 4780804 445140 SH SOLE 0 0 445140 HACKETT GROUP INC COM 404609109 9764065 413907 SH SOLE 0 0 413907 HARVARD BIOSCIENCE INC COM 416906105 12569046 2923034 SH SOLE 0 0 2923034 HEALTHSTREAM INC COM 42222N103 18223352 844456 SH SOLE 0 0 844456 HERITAGE CRYSTAL CLEAN INC COM 42726M106 16639998 366924 SH SOLE 0 0 366924 HERITAGE GLOBAL INC COM 42727E103 8615771 2761465 SH SOLE 0 0 2761465 HILLMAN SOLUTIONS CORP COM 431636109 12047821 1460342 SH SOLE 0 0 1460342 HOME DEPOT INC COM 437076102 203052 672 SH SOLE 0 0 672 HONEYWELL INTL INC COM 438516106 278758 1509 SH SOLE 0 0 1509 LUMENT FINANCE TRUST INC COM 55025L108 3448821 1658087 SH SOLE 0 0 1658087 IAC INC COM NEW 44891N208 6945092 137827 SH SOLE 0 0 137827 INFUSYSTEM HLDGS INC COM 45685K102 9060810 939918 SH SOLE 0 0 939918 INNOVATIVE SOLUTIONS & SUPPO COM 45769N105 326648 42980 SH SOLE 0 0 42980 INTEL CORP COM 458140100 604634 17008 SH SOLE 0 0 17008 INTERNATIONAL BUSINESS MACHS COM 459200101 209333 1492 SH SOLE 0 0 1492 ISHARES TR CORE DIV GRWTH 46434V621 7370 149 SH SOLE 0 0 149 ISHARES INC CORE MSCI EMKT 46434G103 3536046 74302 SH SOLE 0 0 74302 ISHARES TR CORE MSCI EURO 46434V738 3022249 60859 SH SOLE 0 0 60859 ISHARES TR CORE S&P500 ETF 464287200 118952 277 SH SOLE 0 0 277 ISHARES TR CORE S&P MCP ETF 464287507 99740 400 SH SOLE 0 0 400 ISHARES TR CORE S&P SCP ETF 464287804 57258 607 SH SOLE 0 0 607 ISHARES TR CORE S&P TTL STK 464287150 183670 1950 SH SOLE 0 0 1950 ISHARES TR CORE US AGGBD ET 464287226 83225 885 SH SOLE 0 0 885 ISHARES TR DOW JONES US ETF 464287846 9770 94 SH SOLE 0 0 94 ISHARES TR IBOXX HI YD ETF 464288513 5529 75 SH SOLE 0 0 75 ISHARES TR IBOXX INV CP ETF 464287242 3469 34 SH SOLE 0 0 34 ISHARES TR ISHS 1-5YR INVS 464288646 19876 399 SH SOLE 0 0 399 ISHARES TR MICRO-CAP ETF 464288869 35435 354 SH SOLE 0 0 354 ISHARES TR MSCI KLD400 SOC 464288570 150608 1850 SH SOLE 0 0 1850 ISHARES TR MSCI USA ESG SLC 464288802 36888 410 SH SOLE 0 0 410 ISHARES TR RUS 2000 VAL ETF 464287630 2147 16 SH SOLE 0 0 16 ISHARES TR RUSSELL 2000 ETF 464287655 40827 231 SH SOLE 0 0 231 ISHARES TR S&P 500 GRWT ETF 464287309 6043523 88330 SH SOLE 0 0 88330 ISHARES TR S&P 500 VAL ETF 464287408 7086063 46061 SH SOLE 0 0 46061 ISHARES TR S&P MC 400GR ETF 464287606 21672 300 SH SOLE 0 0 300 ISHARES TR SELECT DIVID ETF 464287168 16792 156 SH SOLE 0 0 156 ISHARES TR SP SMCP600VL ETF 464287879 4308460 48290 SH SOLE 0 0 48290 ISSUER DIRECT CORP COM NEW 46520M204 1650546 87795 SH SOLE 0 0 87795 JOHNSON & JOHNSON COM 478160104 11222102 72052 SH SOLE 0 0 72052 JPMORGAN CHASE & CO COM 46625H100 11228970 77430 SH SOLE 0 0 77430 KARAT PACKAGING INC COM 48563L101 1277524 55400 SH SOLE 0 0 55400 KENNEDY-WILSON HOLDINGS INC COM 489398107 9027810 612470 SH SOLE 0 0 612470 KINDER MORGAN INC DEL COM 49456B101 9361530 564628 SH SOLE 0 0 564628 KKR & CO INC COM 48251W104 12402596 201341 SH SOLE 0 0 201341 LEGACY HOUSING CORP COM 52472M101 11893769 612765 SH SOLE 0 0 612765 ELI LILLY & CO COM 532457108 2961198 5513 SH SOLE 0 0 5513 LINCOLN EDL SVCS CORP COM 533535100 4620460 546800 SH SOLE 0 0 546800 LIQUIDITY SVCS INC COM 53635B107 6299150 357500 SH SOLE 0 0 357500 LOGAN RIDGE FINANCE CORP COM 541098109 4348826 209582 SH SOLE 0 0 209582 LUNA INNOVATIONS INC COM 550351100 7309530 1247360 SH SOLE 0 0 1247360 MADDEN STEVEN LTD COM 556269108 6227088 196005 SH SOLE 0 0 196005 MARKEL GROUP INC COM 570535104 201731 137 SH SOLE 0 0 137 MATCH GROUP INC NEW COM 57667L107 9648215 246285 SH SOLE 0 0 246285 MCDONALDS CORP COM 580135101 495267 1880 SH SOLE 0 0 1880 MERCK & CO INC COM 58933Y105 205900 2000 SH SOLE 0 0 2000 MICROSOFT CORP COM 594918104 16027737 50761 SH SOLE 0 0 50761 MOTOROLA SOLUTIONS INC COM NEW 620076307 456198 1676 SH SOLE 0 0 1676 NOODLES & CO COM CL A 65540B105 2238514 909965 SH SOLE 0 0 909965 NORTHERN TECHNOLOGIES INTL C COM 665809109 6908837 516742 SH SOLE 0 0 516742 NUVEEN PFD & INCOME TERM FD COM 67075A106 6631738 386240 SH SOLE 0 0 386240 NVE CORP COM NEW 629445206 7351530 89500 SH SOLE 0 0 89500 NVIDIA CORPORATION COM 67066G104 1109224 2550 SH SOLE 0 0 2550 OAKTREE SPECIALTY LENDING CO COM 67401P405 15805956 785584 SH SOLE 0 0 785584 OLO INC CL A 68134L109 168468 27800 SH SOLE 0 0 27800 OPTEX SYS HLDGS INC COM NEW 68384X209 1891285 455183 SH SOLE 0 0 455183 ORACLE CORP COM 68389X105 11834674 111732 SH SOLE 0 0 111732 PAR PAC HOLDINGS INC COM NEW 69888T207 38135501 1061088 SH SOLE 0 0 1061088 PERFORMANT FINL CORP COM 71377E105 6172975 2731405 SH SOLE 0 0 2731405 PFIZER INC COM 717081103 668939 20167 SH SOLE 0 0 20167 PHX MINERALS INC CL A 69291A100 4226203 1161045 SH SOLE 0 0 1161045 PIMCO ENERGY & TACTICAL CR O COM SHS BEN INT 69346N107 21757465 1097199 SH SOLE 0 0 1097199 PLUMAS BANCORP COM 729273102 1305957 38253 SH SOLE 0 0 38253 PORTMAN RIDGE FIN CORP COM NEW 73688F201 2292964 119115 SH SOLE 0 0 119115 POTBELLY CORP COM 73754Y100 10260978 1315510 SH SOLE 0 0 1315510 PRO-DEX INC COLO COM NEW 74265M205 1092877 69610 SH SOLE 0 0 69610 PROCTER AND GAMBLE CO COM 742718109 559957 3839 SH SOLE 0 0 3839 QUEST RESOURCE HLDG CORP COM NEW 74836W203 3005695 406175 SH SOLE 0 0 406175 QUIPT HOME MEDICAL CORP COM 74880P104 1318946 259125 SH SOLE 0 0 259125 RADNET INC COM 750491102 29478393 1045704 SH SOLE 0 0 1045704 REPUBLIC SVCS INC COM 760759100 10260155 71996 SH SOLE 0 0 71996 RESEARCH SOLUTIONS INC COM 761025105 961500 384600 SH SOLE 0 0 384600 RF INDS LTD COM PAR $0.01 749552105 3059213 1016350 SH SOLE 0 0 1016350 ROPER TECHNOLOGIES INC COM 776696106 435852 900 SH SOLE 0 0 900 ROYCE MICRO-CAP TR INC COM 780915104 7698617 929785 SH SOLE 0 0 929785 ROYCE VALUE TR INC COM 780910105 701762 54527 SH SOLE 0 0 54527 SELECT WATER SOLUTIONS INC CL A COM 81617J301 17631135 2217753 SH SOLE 0 0 2217753 SILVERCREST ASSET MGMT GROUP CL A 828359109 4793645 302057 SH SOLE 0 0 302057 SKYLINE CHAMPION CORPORATION COM 830830105 6373402 100022 SH SOLE 0 0 100022 SPDR SER TR PRTFLO S&P500 HI 78468R788 250505 7143 SH SOLE 0 0 7143 SPDR S&P 500 ETF TR TR UNIT 78462F103 1515982 3546 SH SOLE 0 0 3546 SPROUTS FMRS MKT INC COM 85208M102 25014783 584458 SH SOLE 0 0 584458 SRH TOTAL RETURN FUND INC COM 101507101 4924425 379386 SH SOLE 0 0 379386 SS&C TECHNOLOGIES HLDGS INC COM 78467J100 6651986 126608 SH SOLE 0 0 126608 ARROWMARK FINANCIAL CORP COM 861780104 1190552 68070 SH SOLE 0 0 68070 STONEX GROUP INC COM 861896108 52203108 538621 SH SOLE 0 0 538621 STRATEGIC TRUST RUNNING GWTH ETF 48817R870 210749 8285 SH SOLE 0 0 8285 STREAMLINE HEALTH SOLUTIONS COM 86323X106 103039 106500 SH SOLE 0 0 106500 STRYKER CORPORATION COM 863667101 320819 1174 SH SOLE 0 0 1174 TARGET CORP COM 87612E106 7082593 64055 SH SOLE 0 0 64055 TECHTARGET INC COM 87874R100 6721116 221381 SH SOLE 0 0 221381 THERMO FISHER SCIENTIFIC INC COM 883556102 9841773 19444 SH SOLE 0 0 19444 TILE SHOP HLDGS INC COM 88677Q109 4588520 835796 SH SOLE 0 0 835796 TOPGOLF CALLAWAY BRANDS CORP COM 131193104 18298056 1322114 SH SOLE 0 0 1322114 TRANSCAT INC COM 893529107 10039182 102472 SH SOLE 0 0 102472 U HAUL HOLDING COMPANY COM 023586100 839288 15380 SH SOLE 0 0 15380 U HAUL HOLDING COMPANY COM SER N 023586506 8321402 158836 SH SOLE 0 0 158836 UFP TECHNOLOGIES INC COM 902673102 7103800 44000 SH SOLE 0 0 44000 UNITEDHEALTH GROUP INC COM 91324P102 19573264 38821 SH SOLE 0 0 38821 UNIVERSAL TECHNICAL INST INC COM 913915104 11081377 1322360 SH SOLE 0 0 1322360 US BANCORP DEL COM NEW 902973304 623313 18854 SH SOLE 0 0 18854 VANGUARD ADMIRAL FDS INC 500 GRTH IDX F 921932505 46900 190 SH SOLE 0 0 190 VANGUARD ADMIRAL FDS INC 500 VAL IDX FD 921932703 49365 332 SH SOLE 0 0 332 VANGUARD ADMIRAL FDS INC SMLLCP 600 IDX 921932828 698588 7993 SH SOLE 0 0 7993 VANGUARD WHITEHALL FDS HIGH DIV YLD 921946406 366923 3551 SH SOLE 0 0 3551 VANGUARD INDEX FDS LARGE CAP ETF 922908637 9084 46 SH SOLE 0 0 46 VANGUARD INDEX FDS SML CP GRW ETF 922908595 86315 403 SH SOLE 0 0 403 VANGUARD INDEX FDS MID CAP ETF 922908629 9371 45 SH SOLE 0 0 45 VANGUARD INDEX FDS REAL ESTATE ETF 922908553 7188 95 SH SOLE 0 0 95 VANGUARD INDEX FDS S&P 500 ETF SHS 922908363 2248396 5725 SH SOLE 0 0 5725 VANGUARD SCOTTSDALE FDS VNG RUS1000IDX 92206C730 9816 50 SH SOLE 0 0 50 VANGUARD SCOTTSDALE FDS VNG RUS1000VAL 92206C714 436823 6553 SH SOLE 0 0 6553 VANGUARD INDEX FDS SMALL CP ETF 922908751 173377 917 SH SOLE 0 0 917 VANGUARD INDEX FDS SM CP VAL ETF 922908611 827365 5188 SH SOLE 0 0 5188 VANGUARD INDEX FDS TOTAL STK MKT 922908769 150468 708 SH SOLE 0 0 708 VERRA MOBILITY CORP CL A COM STK 92511U102 18882269 1009747 SH SOLE 0 0 1009747 VIEMED HEALTHCARE INC COM 92663R105 3432872 510085 SH SOLE 0 0 510085 VIRTUS CONVERTIBLE & INC 202 COM 92838R105 10631546 1210882 SH SOLE 0 0 1210882 VISA INC COM CL A 92826C839 207009 900 SH SOLE 0 0 900 VITESSE ENERGY INC COMMON STOCK 92852X103 11413386 498619 SH SOLE 0 0 498619 WASTE MGMT INC DEL COM 94106L109 8349495 54772 SH SOLE 0 0 54772 WELLS FARGO CO NEW COM 949746101 415138 10160 SH SOLE 0 0 10160 WESTERN ASSET GLOBAL CORP DE COM 95790C107 8945949 754932 SH SOLE 0 0 754932 WESTERN ASSET HIGH YIELD DEF COM 95768B107 10475923 911743 SH SOLE 0 0 911743 WILLIAMS COS INC COM 969457100 6347905 188421 SH SOLE 0 0 188421 XPEL INC COM 98379L100 9188821 119165 SH SOLE 0 0 119165 LENDINGTREE INC NOTE 0.500% 7/1 52603BAD9 2882250 3660000 SH SOLE 0 0 3660000 WAYFAIR INC NOTE 0.625%10/0 94419LAM3 4788828 5560000 SH SOLE 0 0 5560000 TELADOC HEALTH INC NOTE 1.250% 6/0 87918AAF2 3860980 4845000 SH SOLE 0 0 4845000