0000903064-11-000013.txt : 20110426 0000903064-11-000013.hdr.sgml : 20110426 20110426165954 ACCESSION NUMBER: 0000903064-11-000013 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20110331 FILED AS OF DATE: 20110426 DATE AS OF CHANGE: 20110426 EFFECTIVENESS DATE: 20110426 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GRACE & WHITE INC /NY CENTRAL INDEX KEY: 0000903064 IRS NUMBER: 132884675 STATE OF INCORPORATION: NY FISCAL YEAR END: 0228 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-04415 FILM NUMBER: 11780653 BUSINESS ADDRESS: STREET 1: 515 MADISON AVE STREET 2: SUITE 1700 CITY: NY STATE: NY ZIP: 10022 BUSINESS PHONE: 2129355990 MAIL ADDRESS: STREET 1: 515 MADISON AVE STREET 2: SUITE 1700 CITY: NY STATE: NY ZIP: 10022 13F-HR 1 sec13f1q11.txt GRACE & WHITE, INC 13F 3/31/11 UNTIED STATES SECURITIES AND EXCHANGE COMMISSION Washington D.C. 205049 FORM 13F FORM 13F COVER PAGE REPORT FOR THE QUARTER ENDED MARCH 31, 2011 INSTITUTIONAL INVESTMENT MANAGER FILING THE REPORT: GRACE & WHITE, INC. 515 MADISON AVE. SUITE 1700 NEW YORK, N.Y. 10022 13F FILE NUMBER SEC13F1Q11.TXT The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing the Report on Behalf of Reporting Manager: MARC E. RAVITZ, CFA EXECUTIVE VICE PRESIDENT 212-935-5990 S/MARC E. RAVITZ NY, NY 4/26/11 13F HOLDINGS REPORT I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCANGE ACT OF 1934. GRACE & WHITE, INC. FORM 13F SUMMARY PAGE AS OF DATE: 03/31/11 REPORT SUMMARY: NUMBER OF OTHER INCLUDED MANAGERS: 0 FORM 13F INFORMATION TABLE ENTRY TOTAL: 174 FORM 13F INFORMATION TABLE VALUE TOTAL: $473,733,000 LIST OF OTHER INCLUDED MANAGERS: NO. 13F FILE NUMBER NAME GRACE & WHITE, INC. FORM 13F INFORMATION TABLE AS OF DATE: 03/31/11 VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- ABERDEEN ASSET MGMT PLC UK ORD COM G00434111 35 10250 SH SOLE 0 0 10250 AEGON N V PFD PER 6.875% PREFERRED STOCKS N00927306 221 9300 SH SOLE 4100 0 5200 ALAMO GROUP INC COM COM 011311107 1917 69834 SH SOLE 5000 0 64834 ALLIANCE BANKSHARES CORP COM COM 018535104 1965 354144 SH SOLE 30189 0 323955 ALLIANT CORP COM COM 018802108 12535 321998 SH SOLE 68169 0 253829 ALLIANT CORP COM COM 018802108 62 1600 SH OTHER 0 0 1600 ALLSTATE CORP COM 020002101 499 15690 SH SOLE 0 0 15690 ALTERRA CAPITAL HOLDINGS LTD COM G0229R108 9625 432384 SH SOLE 45070 0 387314 AMERICAN WOODMARK CORP COM COM 030506109 4114 197008 SH SOLE 22115 0 174893 AMR CORP DEL COM COM 001765106 72 11200 SH SOLE 0 0 11200 APPLIED INDL TECHNLGIES INC CO COM 03820C105 11384 342262 SH SOLE 32025 0 310237 ARGO GROUP INTL HLDGS LTD COM COM G0464B107 3767 114009 SH SOLE 5810 0 108199 ASIA FINANCIAL HOLDINGS LTD SH COM G0532X107 4771 10602915 SH SOLE 1690586 0 8912329 ASTRO-MED INC NEW COM COM 04638F108 953 122136 SH SOLE 62300 0 59836 ATMOS ENERGY CORP COM COM 049560105 5035 147650 SH SOLE 29300 0 118350 BANG & OLUFSEN HLG ORD B COM K07774126 1761 119412 SH SOLE 47556 0 71856 BASSETT FURNITURE INDS INC COM COM 070203104 3793 485706 SH SOLE 93566 0 392140 BASSETT FURNITURE INDS INC COM COM 070203104 18 2300 SH OTHER 0 0 2300 BCSB BANCORP INC COM COM 055367106 232 17534 SH SOLE 9397 0 8137 BERKLEY W R CORP COM COM 084423102 903 28022 SH SOLE 0 0 28022 BOEING CO COM 097023105 3722 50350 SH SOLE 20000 0 30350 BP AMOCO ADS COM 055622104 214 4841 SH SOLE 0 0 4841 BRISTOL MYERS SQUIBB CO COM 110122108 1748 66126 SH SOLE 28400 0 37726 BROADWAY FINL CORP DEL COM COM 111444105 124 52690 SH SOLE 2700 0 49990 BRONCO DRILLING CO INC COM COM 112211107 1871 165605 SH SOLE 14100 0 151505 BRUNSWICK BANCORP INC COM COM 117030106 155 25816 SH SOLE 25816 0 0 CALLAWAY GOLF CO COM COM 131193104 7792 1142566 SH SOLE 173000 0 969566 CALLAWAY GOLF CO COM COM 131193104 19 2800 SH OTHER 0 0 2800 CAPITAL SOUTHWEST CORP COM COM 140501107 2985 32615 SH SOLE 300 0 32315 CARROLLTON BANCORP COM COM 145282109 113 25070 SH SOLE 5800 0 19270 CASTLE A M & CO COM 148411101 6205 328639 SH SOLE 6800 0 321839 CFS BANCORP INC COM COM 12525D102 1930 345864 SH SOLE 98651 0 247213 CFS BANCORP INC COM COM 12525D102 28 5000 SH OTHER 0 0 5000 CHUBB CORP COM 171232101 1189 19400 SH SOLE 0 0 19400 CHUBU NIPPON BROADCAST CO LTSH COM J06594105 2611 453437 SH SOLE 31000 0 422437 CIMAREX ENERGY CO COM COM 171798101 4409 38258 SH SOLE 3100 0 35158 CITIGROUP INC COM COM 172967101 58 13199 SH SOLE 0 0 13199 CLIFTON SVGS BANCORP INC COM COM 18712Q103 3156 265869 SH SOLE 70521 0 195348 COCA COLA CO COM COM 191216100 1117 16833 SH SOLE 13300 0 3533 COLONIAL FINANCIAL SERVICES COM 19566B101 4165 321647 SH SOLE 48086 0 273561 CONOCOPHILLIPS COM COM 20825C104 1082 13544 SH SOLE 0 0 13544 CONSOLIDATED TOMOKA LD CO COM COM 210226106 1197 36959 SH SOLE 7000 0 29959 CORN PRODS INTL INC COM COM 219023108 3933 75900 SH SOLE 8600 0 67300 CORTS TR 111 PROVIDENT FING CO COM 22081P209 734 29300 SH SOLE 8800 0 20500 CORTS TR II PROVIDENT FING TCO PREFERRED STOCKS 22081B200 1925 76100 SH SOLE 9400 0 66700 CORTS TR PROVIDENT FING TR ICR PREFERRED STOCKS 22080X203 683 26153 SH SOLE 5200 0 20953 CURRENCYSHARES EURO TRUST COM 23130C108 1059 7500 SH SOLE 1600 0 5900 CYBEX INTL INC COM COM 23252E106 1188 1397838 SH SOLE 183912 0 1213926 DAWSON GEOPHYSICAL CO COM COM 239359102 2862 65217 SH SOLE 8100 0 57117 DELPHI FINL GROUP INC CL A COM 247131105 4287 139612 SH SOLE 9300 0 130312 DGT HOLDINGS CORP COM 23328R107 1856 193305 SH SOLE 22957 0 170348 EKORNES ASA ORD COM R20126109 2288 85500 SH SOLE 28200 0 57300 EMBER RES INC COM COM 29081X207 606 1366385 SH SOLE 250194 0 1116191 EMC INS GROUP INC COM 268664109 1995 80334 SH SOLE 28405 0 51929 EMC INS GROUP INC COM 268664109 37 1500 SH OTHER 0 0 1500 ENERPLUS CORPORATION COM 292766102 8813 278350 SH SOLE 79200 0 199150 ENERPLUS CORPORATION COM 292766102 47 1500 SH OTHER 0 0 1500 EVEREST RE GROUP COM G3223R108 10006 113475 SH SOLE 19775 0 93700 EXXON MOBIL CORPORATION COM 30231G102 13291 157980 SH SOLE 81314 0 76666 FAIRBORNE ENERGY LTD COM 303623102 8569 1527540 SH SOLE 93475 0 1434065 FAIRFAX FINL HLDGS LTD CONINGE WARRANT AND RIGH 303901110 0 61500 SH SOLE 20500 0 41000 FARMER BROS CO COM COM 307675108 132 10930 SH SOLE 1500 0 9430 FIBRIA CELULOSE S.A. SP ADR COM 31573A109 2825 172028 SH SOLE 22850 0 149178 FOREST CITY ENTERPRISES CLASS COM 345550107 10348 549565 SH SOLE 32673 0 516892 FOREST CITY ENTERPRISES CLASS COM 345550305 613 32680 SH SOLE 0 0 32680 FOREST CITY ENTERPRISES INC SR COM 345550404 1910 79770 SH SOLE 8670 0 71100 FREQUENCY ELECTRS INC COM COM 358010106 3475 338709 SH SOLE 62700 0 276009 FRIEDMAN INDS INC COM 358435105 552 54210 SH SOLE 12600 0 41610 FUEL SYS SOLUTIONS INC COM COM 35952W103 7332 242927 SH SOLE 10000 0 232927 FUJI FIRE & MARINE INS CO LTSH COM J14238117 618 351000 SH SOLE 165000 0 186000 GENERAL DYNAMICS CORP COM COM 369550108 612 8000 SH SOLE 0 0 8000 GENERAL ELEC CO COM 369604103 523 26096 SH SOLE 0 0 26096 GETTY RLTY CORP NEW COM COM 374297109 293 12804 SH SOLE 0 0 12804 GIVAUDAN AG GDR COM H3238Q102 259 257 SH SOLE 0 0 257 GLOBAL TECH ADVANCED INNOVATIO COM G39320117 369 54393 SH SOLE 26172 0 28221 GORMAN RUPP CO COM 383082104 12473 316649 SH SOLE 58305 0 258344 GORMAN RUPP CO COM 383082104 108 2733 SH OTHER 0 0 2733 GREAT WOLF RESORTS INC COM COM 391523107 3114 1475761 SH SOLE 221444 0 1254317 H & Q HEALTHCARE FD SH BEN INT MUTUAL FUNDS 404052102 157 10968 SH SOLE 5807 0 5161 H & Q LIFE SCIENCES INVS SH BE COM 404053100 751 62469 SH SOLE 28349 0 34120 HAMPDEN BANCORP INC COM COM 40867E107 713 53557 SH SOLE 7306 0 46251 HELMERICH & PAYNE INC COM 423452101 11076 161245 SH SOLE 20400 0 140845 HESS CORP COM COM 42809H107 688 8070 SH SOLE 0 0 8070 HMN FINL INC COM COM 40424G108 448 163041 SH SOLE 22500 0 140541 HOLMEN AB SHS B COM W4200N112 4631 133900 SH SOLE 20900 0 113000 HUGOTON RTY TR TEX UNIT BEN IN COM 444717102 659 27700 SH SOLE 0 0 27700 I B M COM 459200101 261 1600 SH SOLE 0 0 1600 JOHNSON & JOHNSON COM COM 478160104 3474 58627 SH SOLE 0 0 58627 JONES GROUP INC COM COM 48020T101 5996 436100 SH SOLE 68000 0 368100 KEWEENAW LD ASSN LTD COM COM 493026108 308 3280 SH SOLE 0 0 3280 KID BRANDS, INC. COM COM 49375T100 2198 299022 SH SOLE 62450 0 236572 KIMBALL INTL INC CL B COM 494274103 4756 679379 SH SOLE 137258 0 542121 KIMCO RLTY CORP COM COM 49446R109 7658 417573 SH SOLE 51600 0 365973 LASALLE RE HLDGS LTD PFD A PREFERRED STOCKS G5383Q119 3 40700 SH SOLE 13000 0 27700 LECHTERS INC 20010927 CONVERTIBLE BOND U52323AA7 0 385000 PRN SOLE 35000 0 350000 LIBERTY GLOBAL INC COM SER A COM 530555101 315 7600 SH SOLE 553 0 7047 LUBYS CAFETERIAS INC COM COM 549282101 998 188327 SH SOLE 60225 0 128102 LUFKIN INDS INC COM COM 549764108 522 5590 SH SOLE 0 0 5590 LYDALL INC COM COM 550819106 7206 810629 SH SOLE 52900 0 757729 MAGAL SECURITY SYS LTD ORD COM M6786D104 1685 548909 SH SOLE 53908 0 495001 MANULIFE FINL CORP COM COM 56501R106 2807 158700 SH SOLE 1700 0 157000 MCLEODUSA INC CL A COM 582266706 0 41990 SH SOLE 41757 0 233 MEADWESTVACO CORPORATION COM 583334107 9936 327600 SH SOLE 58416 0 269184 MEADWESTVACO CORPORATION COM 583334107 60 1970 SH OTHER 0 0 1970 MEDCO HEALTH SOLUTIONS INC COM COM 58405U102 1638 29174 SH SOLE 24350 0 4824 MERCK & COMPANY COM 58933Y105 3286 99534 SH SOLE 77800 0 21734 METLIFE INC COM COM 59156R108 895 20000 SH SOLE 0 0 20000 MFS GOVT MKTS INCOME TR SH BEN MUTUAL FUNDS 552939100 1515 236701 SH SOLE 40874 0 195827 MFS INTERMARKET INCOME TR I SH COM 59318R103 613 74900 SH SOLE 6500 0 68400 MGE ENERGY INC COM 55277P104 1548 38243 SH SOLE 4718 0 33525 MICROSOFT CORP COM COM 594918104 264 10400 SH SOLE 0 0 10400 MS&AD INS GP HLDG (8725-JP) COM J4687C105 2383 104277 SH SOLE 47110 0 57167 MUELLER PAUL CO COM 624752101 574 26377 SH SOLE 2000 0 24377 MURPHY OIL CORP COM COM 626717102 330 4500 SH SOLE 600 0 3900 NAUGATUCK VY FINL CORP COM COM 639067107 2890 359011 SH SOLE 103231 0 255780 NEW YORK & CO INC COM COM 649295102 2100 299631 SH SOLE 48000 0 251631 NKSJ HOLDINGS INC SHS ISIN #JP COM J58699109 314 47890 SH SOLE 33918 0 13972 NORTH VALLEY BANCORP COM NEW COM 66304M204 275 25360 SH SOLE 4200 0 21160 NUCOR CORP COM 670346105 13825 300422 SH SOLE 28520 0 271902 OLD REP INTL CORP COM COM 680223104 2280 179661 SH SOLE 16004 0 163657 ORION ENERGY SYSTEMS INC COM COM 686275108 147 36506 SH SOLE 0 0 36506 ORYX INTERNATIONAL GROWTH FUND COM G6775Y108 577 150000 SH SOLE 0 0 150000 OXFORD INDS INC COM COM 691497309 4230 123727 SH SOLE 28900 0 94827 OXFORD INDS INC COM COM 691497309 41 1200 SH OTHER 0 0 1200 PATTERSON-UTI ENERGY INC COM COM 703481101 5434 184886 SH SOLE 3700 0 181186 PENGROWTH ENERGY CORPORATION COM 70706P104 8077 583995 SH SOLE 103811 0 480184 PENGROWTH ENERGY CORPORATION COM 70706P104 23 1696 SH OTHER 0 0 1696 PENN MILLERS HLDG CORP COM COM 707561106 184 13002 SH SOLE 4502 0 8500 PENN WEST PETROLEUM LTD COM 707887105 10207 368476 SH SOLE 54900 0 313576 PEOPLES UNITED FINANCIAL INCCO COM 712704105 1129 89707 SH SOLE 0 0 89707 PEPSICO INC COM 713448108 5589 86775 SH SOLE 3600 0 83175 PFIZER INC COM COM 717081103 323 15892 SH SOLE 0 0 15892 PHOENIX COS INC NEW COM COM 71902E109 2007 737741 SH SOLE 51900 0 685841 PHOENIX COS INC NEW QUIBS 2032 PREFERRED STOCKS 71902E208 2147 96900 SH SOLE 48300 0 48600 PLUM CREEK TIMBER CO INC COM COM 729251108 240 5508 SH SOLE 0 0 5508 PMA CAP CORP NT SR 8.50% 18 PREFERRED STOCKS 693419301 426 41594 SH SOLE 9444 0 32150 PROCTER & GAMBLE COMPANY COM 742718109 269 4368 SH SOLE 0 0 4368 PROSPEX RES LTD COM COM 743627101 1867 933280 SH SOLE 138000 0 795280 REEVES TELECOM LTD PARTNERSHPA COM 75865P100 68 233507 SH SOLE 183157 0 50350 ROCHE HLDG LTD DIV RIGHTS CERT WARRANT AND RIGH H69293217 3585 25000 SH SOLE 0 0 25000 ROYAL DUTCH SHELL PLC SPONS AD COM 780259206 2051 28147 SH SOLE 500 0 27647 ROYCE OTC MICRO-CAP FD INC COM COM 780915104 147 14399 SH SOLE 8567 0 5832 SCHULMAN A INC COM COM 808194104 3485 140976 SH SOLE 29787 0 111189 SCHULMAN A INC COM COM 808194104 44 1800 SH OTHER 0 0 1800 SCOTTISH RE GROUP LIMITED SHS COM G73537410 22 143400 SH SOLE 10600 0 132800 SI FINANCIAL GROUP INC COM 78425V104 1550 156834 SH SOLE 54493 0 102341 SIGNET JEWELERS LIMITED SHS COM G81276100 2218 48200 SH SOLE 8100 0 40100 SMUCKER J M CO COM NEW COM 832696405 204 2862 SH SOLE 0 0 2862 STATE AUTO FINL CORP COM 855707105 1493 81943 SH SOLE 9047 0 72896 STEPAN CHEMICAL CO COM 858586100 3809 52533 SH SOLE 9700 0 42833 SUNOCO INC COM COM 86764P109 12779 280305 SH SOLE 53314 0 226991 TEMPLETON EMERGING MKTS INCMCO MUTUAL FUNDS 880192109 1155 69350 SH SOLE 14100 0 55250 TOKIO MARINE HOLDINGS INC COM 889094108 4218 157195 SH SOLE 116500 0 40695 TUESDAY MORNING CORP COM NEW COM 899035505 5458 1113849 SH SOLE 136634 0 977215 UNITED PARCEL SVC INC CL B COM 911312106 6473 87090 SH SOLE 0 0 87090 UNUMPROVIDENT CORP COM 91529Y106 15113 575748 SH SOLE 56065 0 519683 UNUMPROVIDENT CORP COM 91529Y106 38 1460 SH OTHER 0 0 1460 URSTADT BIDDLE PPTYS INC CL A COM 917286205 4718 248045 SH SOLE 28900 0 219145 URSTADT BIDDLE PPTYS INC COM COM 917286106 5975 371841 SH SOLE 88629 0 283212 URSTADT BIDDLE PPTYS INC COM COM 917286106 32 2000 SH OTHER 0 0 2000 URSTADT BIDDLE PPTYS INS SR PF PREFERRED STOCKS 917286403 1998 19400 SH SOLE 1150 0 18250 USA TRUCK INC COM COM 902925106 5039 387599 SH SOLE 29238 0 358361 VECTREN CORP COM COM 92240G101 8368 307645 SH SOLE 56422 0 251223 VIASYSTEMS GROUP INC COM COM 92553H803 1136 41618 SH SOLE 1917 0 39701 VIRTUS INVT PARTNERS INC COM COM 92828Q109 275 4673 SH SOLE 1292 0 3381 VULCAN MATLS CO COM COM 929160109 460 10095 SH SOLE 0 0 10095 WAL MART STORES INC COM 931142103 274 5259 SH SOLE 0 0 5259 WASHINGTON REAL ESTATE INVT SH COM 939653101 3199 102900 SH SOLE 26700 0 76200 WASHINGTON REAL ESTATE INVT SH COM 939653101 28 900 SH OTHER 0 0 900 WATSCO INC COM 942622200 6427 92200 SH SOLE 21700 0 70500 WELLS FARGO & CO PFD FRAC ACAT PREFERRED STOCKS KEK746889 0 97400 SH SOLE 0 0 97400 WEST MARINE INC COM COM 954235107 718 68799 SH SOLE 8338 0 60461 WEST PHARMACEUTICAL SVCS INCCO COM 955306105 2230 49806 SH SOLE 6666 0 43140 WILLIAMS SONOMA INC COM COM 969904101 4706 116200 SH SOLE 28700 0 87500 LINE COUNT: 174