Grace & White Inc.

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed January 29, 2025), Grace & White Inc. reported 133 stock positions worth $527.3 million. Its top holding was Unum (UNM) at 6.9% of the portfolio, followed by Applied Industrial Tech (AIT, 6.7%) and Ingredion (INGR, 3.8%). Compared with Q3 2024, it opened 9 new positions, sold out of 4, added to 20 and reduced 24. The biggest buy was a new position in Alerus Financial (ALRS) and the biggest sale an exit from HMN Financial (HMNF).

Most Recent 13F
Q2 2026
Location
NY, NY
CIK
0000903064
Portfolio Value
$527.3M (Q4 2024)
SEC Filing
0000903064-25-000001 ↗ filed Jan 29, 2025

Holdings Value

0$200.0M$400.0M$600.0M$800.0M Q1 2024: $548.6M Q1 2024 Q2 2024: $525.7M Q2 2024 Q3 2024: $546.8M Q3 2024 Q4 2024: $527.3M $527.3M Q4 2024 Q1 2025: $516.4M Q1 2025 Q2 2025: $538.6M Q2 2025 Q3 2025: $558.2M Q3 2025 Q4 2025: $553.2M Q4 2025 Q1 2026: $558.3M Q1 2026 Q2 2026: $623.9M Q2 2026

Holdings 133 stocks · $527.3M
UNM Unum Group 6.92% 499,356 $36.5M No change
AIT Applied Industrial Tech Inc. 6.72% 148,016 $35.4M Reduce -2.5%
INGR Ingredion Inc. 3.80% 145,581 $20.0M Reduce -0.7%
TRMLF Tourmaline Oil Corp. 3.56% 406,343 $18.8M No change
WSO Watsco Inc. 3.52% 39,200 $18.6M Reduce -1.9%
EG Everest Group Ltd. 3.25% 47,232 $17.1M No change
SIG Signet Jewelers Ltd. 3.17% 207,262 $16.7M Add +6.1%
BF.B Brown-Forman Corp. Class B 3.15% 436,698 $16.6M No change
NUE Nucor Corp. 2.71% 122,339 $14.3M Add +12.0%
WST West Pharmaceutical Services 2.57% 41,330 $13.5M No change
MFC Manulife Financial Corp. 2.51% 430,805 $13.2M Reduce -0.2%
GRC Gorman-Rupp Co. 2.50% 348,067 $13.2M No change
FSLR First Solar Inc. 2.40% 71,710 $12.6M No change
ALG Alamo Group Inc. 2.38% 67,502 $12.5M No change
CTO Cto Realty Growth Inc. filed as CTO RLTY GROWTH INC NEW 2.17% 581,671 $11.5M No change
WSM Williams-Sonoma Inc. 1.93% 54,930 $10.2M Reduce -3.7%
BHF Brighthouse Financial Inc. 1.81% 198,275 $9.5M No change
AEG Aegon Ltd.-NY Reg SHR 1.67% 1,493,962 $8.8M No change
AMWD American Woodmark Corp. 1.55% 102,645 $8.2M No change
SCL Stepan Co. 1.49% 121,147 $7.8M No change
KIM Kimco Realty Corp. 1.45% 326,087 $7.6M Reduce -4.2%
INN Summit Hotel Properties Inc. 1.38% 1,065,953 $7.3M Reduce -4.4%
ORN Orion Group Holdings Inc. 1.38% 992,797 $7.3M No change
AIFIF Asia Financial Hldgs Ltd. 1.33% 13,790,666 $7.0M No change
UPS United Parcel Service Class B 1.28% 53,690 $6.8M No change
SWGNF Swatch Group AG/the-Reg 1.22% 180,650 $6.4M Reduce -3.0%
HLMMF Holmen AB-B Shares 1.14% 162,892 $6.0M No change
BBT Beacon Financial Corp. filed as BERKSHIRE HILLS BANCORP INC 1.07% 199,010 $5.7M No change
KE Kimball Electronics Inc. 0.96% 270,877 $5.1M Add +5.5%
ALRS Alerus Financial Corp. 0.94% 256,233 $4.9M New
NTR Nutrien Ltd. 0.93% 109,200 $4.9M Add +9.5%
MUR Murphy Oil Corp. 0.87% 151,052 $4.6M Add +6.4%
CALY Callaway Golf Company filed as TOPGOLF CALLAWAY BRANDS CORP 0.87% 581,344 $4.6M Reduce -11.8%
BF.A Brown-Forman Corp. Class A 0.78% 109,173 $4.1M Add +13.1%
LNT Alliant Energy Corp. 0.77% 68,350 $4.0M No change
NWN Northwest Natural Holding Co. 0.75% 99,409 $3.9M No change
CSWC Capital Southwest Corp. 0.73% 176,597 $3.9M No change
CTRA Coterra Energy Inc. 0.73% 150,032 $3.8M No change
PEP Pepsico Inc. 0.71% 24,740 $3.8M Reduce -2.6%
WPRT Westport Fuel Systems Inc. 0.71% 1,043,980 $3.7M Add +40.3%
BWEN Broadwind Inc. 0.71% 1,980,599 $3.7M Add +15.5%
GRUPO ROTOPLAS SAB DE CV 0.68% 4,676,774 $3.6M Add +34.9%
MSFT Microsoft Corp. 0.64% 7,975 $3.4M No change
DVN Devon Energy Corp. 0.62% 100,236 $3.3M Add +55.0%
AAPL Apple Inc. 0.58% 12,283 $3.1M Reduce -14.0%
LND Brasilagro-Cia Bra - SPN ADR 0.56% 817,057 $2.9M Add +38.8%
DNIFF Danieli & Co. 0.53% 112,263 $2.8M Add +969.2%
CIMEF Cimc Enric Holdings Ltd. 0.53% 3,098,500 $2.8M No change
RSHPF Irish Residential Properties 0.51% 2,835,750 $2.7M Add +22.9%
TWI Titan International Inc. 0.50% 391,228 $2.7M No change
SNT Senstar Technologies Corp. 0.50% 768,378 $2.6M Reduce -16.3%
HP Helmerich & Payne 0.49% 80,486 $2.6M No change
GHM Graham Corp. 0.49% 57,846 $2.6M Reduce -24.6%
TWIN Twin Disc Inc. 0.48% 214,136 $2.5M No change
NVO Novo-Nordisk A/S-Spons ADR 0.47% 29,000 $2.5M No change
MSADF Ms&ad Insurance Group Holdin 0.45% 108,511 $2.4M Reduce -4.1%
GNLAF Genesis Land Development Co. 0.45% 1,036,506 $2.4M No change
EXCOF Exco Technologies Ltd. 0.44% 448,550 $2.3M No change
CSW CSW Industrials Inc. 0.44% 6,603 $2.3M No change
PTEN Patterson-Uti Energy Inc. 0.44% 279,768 $2.3M No change
OESX Orion Energy Systems Inc. 0.42% 2,745,544 $2.2M Add +1.9%
APOG Apogee Enterprises Inc. 0.41% 30,400 $2.2M Reduce -14.4%
GEOS Geospace Technologies Corp. 0.41% 216,096 $2.2M No change
FTEK Fuel Tech Inc. 0.37% 1,868,127 $2.0M No change
SASR Sandy Spring Bancorp Inc. 0.37% 58,145 $2.0M Reduce -29.0%
WMT Walmart Inc. 0.36% 21,000 $1.9M Reduce -6.7%
AKRBF Aker BP ASA 0.36% 96,736 $1.9M Add +7.0%
REG Regency Centers Corp. 0.35% 25,206 $1.9M No change
GOOGL Alphabet Inc. Class A 0.34% 9,350 $1.8M No change
ALOT Astronova Inc. 0.33% 142,809 $1.7M No change
HNI Hni Corp. 0.32% 33,429 $1.7M Reduce -1.8%
WRB WR Berkley Corp. filed as BERKLEY W R CORP 0.28% 24,869 $1.5M No change
BYFC Broadway Financial Corp. 0.26% 197,060 $1.3M No change
DWSN Dawson Geophysical Co. 0.25% 988,550 $1.3M Add +0.9%
VABK Virginia National Bankshares 0.25% 34,279 $1.3M No change
VWDRY Vestas Wind Systems-Unsp ADR 0.24% 283,750 $1.3M No change
RYAM Rayonier Advanced Materials 0.22% 142,365 $1.2M Reduce -3.4%
KEWL Keweenaw Land Association LT 0.22% 33,448 $1.2M No change
BGOUF Bang & Olufsen A/S 0.22% 873,736 $1.1M Reduce -1.6%
RYZ Ryerson Holding Corp. 0.21% 59,500 $1.1M No change
WIW Western Asst Infl-LNK Opp 0.20% 124,620 $1.0M Reduce -31.6%
FFXDF Fairfax India Ho-Sub VTG SHS 0.18% 59,560 $954K No change
RUFFER INV 0.17% 273,800 $919K Add +7.7%
CBUPF Chubu-Nippon Broadcasting Co. 0.17% 242,172 $906K No change
SUZ Suzano SA - Spon ADR 0.16% 81,974 $830K No change
ZBH Zimmer Biomet Holdings Inc. 0.15% 7,500 $792K No change
MRK Merck & Co. Inc. 0.14% 7,267 $723K No change
CULP Culp Inc. 0.13% 120,918 $710K No change
XOM Exxon Mobil Corp. 0.13% 6,482 $697K No change
MPB Mid Penn Bancorp Inc. 0.12% 21,103 $609K No change
STEW SRH Total Return Fund Inc. 0.11% 36,560 $586K No change
MCD McDonald's Corp. 0.11% 2,000 $580K No change
CHRD Chord Energy Corp. 0.11% 4,948 $579K No change
AMZN Amazon.com Inc. 0.10% 2,520 $553K No change
CUSUX Six Circles US Unconstr Eq 0.09% 26,887 $468K New
BRK.B Berkshire Hathaway Inc. Class B 0.09% 1,000 $453K No change
KRNY Kearny Financial Corp. 0.08% 58,317 $413K Reduce -44.0%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.07% 3,500 $390K No change
XWIAX Western Asset Infl-Link Sec 0.07% 46,694 $374K Add +21.0%
CHINA MOBILE LTD 0.07% 37,500 $370K No change
BMY Bristol-Myers Squibb Co. 0.07% 6,293 $356K No change
FXAIX Fidelity 500 Index Fund 0.07% 1,730 $353K New
SPINNOVA OYJ 0.06% 324,710 $329K Add +2.0%
BRRE Blue Ridge Real Estate Co. 0.06% 38,376 $307K No change
CSCO Cisco Systems Inc. 0.06% 5,140 $304K No change
SWKH SWK Holdings Corp. filed as SWK HLDGS CORP 0.06% 18,721 $297K Add +11.1%
COST Costco Wholesale Corp. 0.05% 300 $275K No change
THG Hanover Insurance Group Inc./ 0.05% 1,775 $275K No change
COP Conocophillips 0.05% 2,730 $271K No change
TKOMY Tokio Marine Holdings-ADR 0.05% 7,010 $255K No change
ES Eversource Energy 0.05% 4,418 $254K No change
FXNC First National Corp. 0.05% 10,478 $241K No change
CIBEY Commercial Intl Bank-ADR 0.04% 151,112 $233K No change
CBTAX Six Circles Tax Aware BND 0.04% 22,979 $224K New
JZCLF JZ Capital Partners Ltd. 0.04% 87,214 $223K Reduce -27.6%
NSGRX Northern Small Cap Core-I 0.04% 8,354 $211K No change
GOOG Alphabet Inc. Class C 0.04% 1,060 $202K New
CIUEX Six Circles Intl Uncon Eq 0.04% 17,403 $186K New
XBNYX BlackRock New York Muni Inc. 0.03% 16,500 $168K No change
VWIUX Vanguard I/T Tax Exmpt-Adm 0.03% 11,910 $162K New
DUNEDIN ENT 0.03% 27,143 $159K Reduce -73.3%
RBKB Rhinebeck Bancorp Inc. 0.02% 12,664 $122K No change
CRDOX Six Circles Credit Opport 0.02% 13,380 $119K New
HAIN Hain Celestial Group Inc. 0.02% 14,000 $86K New
LUB Luby's Inc. filed as LUBYS CAFETERIAS INC COM 0.01% 106,401 $72K No change
FFXXF Helios Fairfax Partners Corp. 0.01% 34,300 $70K No change
TBLA Taboola.com Ltd. 0.01% 13,348 $49K No change
GSFVF Gasfrac Energy Services Inc. 0.00% 31,000 $0 No change
KIDBQ Kid Brands Inc. 0.00% 23,000 $0 No change
TUEMQ Tuesday Morning Corp. 0.00% 16,188 $0 No change
SHORE CAPITAL GROUP 0.00% 88,056 $0 No change
VWSYF Vestas Wind Systems A/S 0.00% 37,500 $0 No change
AEGON NV SHS 0.00% 62,265 $0 No change
Other holdings (4): bonds, preferreds, convertibles and warrants · $7.3M (not counted above)
SecurityClassShares / PrincipalValueChange
PHOENIX COMPANIES INC (PNX 7.45 01/15/32) PREFERRED STOCKS 262,432$4.7MNo change
SUMMIT HOTEL PROPERTIES (INN 6.25 PERP E) PREFERRED STOCKS 70,194$1.4MAdd +71.9%
SUMMIT HOTEL PROPERTIES (INN 5.875 PERP F) PREFERRED STOCKS 29,889$607KNo change
CHS INC (CHSINC V6.75 PERP 3) PFD 24,229$600KNo change

Total filed on the 13F, all lines: $534.6M.

Portfolio Sells Q3 2024 → Q4 2024
HMNF HMN Financial Inc. Sold out 0.00% −1.05
CALY Callaway Golf Company Reduce -11.8% 0.87% −0.46
SWGNF Swatch Group AG/the-Reg Reduce -3.0% 1.22% −0.25
WIW Western Asst Infl-LNK Opp Reduce -31.6% 0.20% −0.10
SASR Sandy Spring Bancorp Inc. Reduce -29.0% 0.37% −0.10
DUNEDIN ENT Reduce -73.3% 0.03% −0.10
PEP Pepsico Inc. Reduce -2.6% 0.71% −0.08
WSO Watsco Inc. Reduce -1.9% 3.52% −0.07
SBUX Starbucks Corp. Sold out 0.00% −0.07
KRNY Kearny Financial Corp. Reduce -44.0% 0.08% −0.05
APOG Apogee Enterprises Inc. Reduce -14.4% 0.41% −0.04
FEIM Frequency Electronics Inc. Sold out 0.00% −0.04
DHR Danaher Corp. Sold out 0.00% −0.04
AAPL Apple Inc. Reduce -14.0% 0.58% −0.03
HNI Hni Corp. Reduce -1.8% 0.32% −0.02
INN Summit Hotel Properties Inc. Reduce -4.4% 1.38% −0.01
JZCLF JZ Capital Partners Ltd. Reduce -27.6% 0.04% −0.01
MSADF Ms&ad Insurance Group Holdin Reduce -4.1% 0.45% −0.01
RYAM Rayonier Advanced Materials Reduce -3.4% 0.22% −0.01
BGOUF Bang & Olufsen A/S Reduce -1.6% 0.22% −0.00
KIM Kimco Realty Corp. Reduce -4.2% 1.45% +0.00
WMT Walmart Inc. Reduce -6.7% 0.36% +0.03
GHM Graham Corp. Reduce -24.6% 0.49% +0.07
INGR Ingredion Inc. Reduce -0.7% 3.80% +0.11
MFC Manulife Financial Corp. Reduce -0.2% 2.51% +0.18
SNT Senstar Technologies Corp. Reduce -16.3% 0.50% +0.23
WSM Williams-Sonoma Inc. Reduce -3.7% 1.93% +0.31
AIT Applied Industrial Tech Inc. Reduce -2.5% 6.72% +0.53

Portfolio Buys Q3 2024 → Q4 2024
ALRS Alerus Financial Corp. New 0.94% +0.94
DNIFF Danieli & Co. Add +969.2% 0.53% +0.47
DVN Devon Energy Corp. Add +55.0% 0.62% +0.16
KE Kimball Electronics Inc. Add +5.5% 0.96% +0.09
CUSUX Six Circles US Unconstr Eq New 0.09% +0.09
WPRT Westport Fuel Systems Inc. Add +40.3% 0.71% +0.08
RSHPF Irish Residential Properties Add +22.9% 0.51% +0.08
FXAIX Fidelity 500 Index Fund New 0.07% +0.07
LND Brasilagro-Cia Bra - SPN ADR Add +38.8% 0.56% +0.05
NTR Nutrien Ltd. Add +9.5% 0.93% +0.05
CBTAX Six Circles Tax Aware BND New 0.04% +0.04
GOOG Alphabet Inc. Class C New 0.04% +0.04
CIUEX Six Circles Intl Uncon Eq New 0.04% +0.04
VWIUX Vanguard I/T Tax Exmpt-Adm New 0.03% +0.03
CRDOX Six Circles Credit Opport New 0.02% +0.02
HAIN Hain Celestial Group Inc. New 0.02% +0.02
XWIAX Western Asset Infl-Link Sec Add +21.0% 0.07% +0.01
AKRBF Aker BP ASA Add +7.0% 0.36% +0.00
SWKH SWK Holdings Corp. Add +11.1% 0.06% +0.00
RUFFER INV Add +7.7% 0.17% +0.00
OESX Orion Energy Systems Inc. Add +1.9% 0.42% −0.01
BWEN Broadwind Inc. Add +15.5% 0.71% −0.01
MUR Murphy Oil Corp. Add +6.4% 0.87% −0.01
DWSN Dawson Geophysical Co. Add +0.9% 0.25% −0.03
SPINNOVA OYJ Add +2.0% 0.06% −0.03
BF.A Brown-Forman Corp. Class A Add +13.1% 0.78% −0.07
GRUPO ROTOPLAS SAB DE CV Add +34.9% 0.68% −0.08
NUE Nucor Corp. Add +12.0% 2.71% −0.30
SIG Signet Jewelers Ltd. Add +6.1% 3.17% −0.51

Notes & Other Activity Q3 2024 → Q4 2024
SUMMIT HOTEL PROPERTIES (INN 6.25 PERP E) PREFERRED STOCKS Add +71.9% 70,194 $1.4M

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 129$623.9MAIT, UNM, GRC, NUE, SIG
Q1 2026 132$558.3MAIT, UNM, NUE, SIG, GRC
Q4 2025 133$553.2MUNM, AIT, NUE, SIG, FSLR
Q3 2025 135$558.2MUNM, AIT, SIG, INGR, FSLR
Q2 2025 133$538.6MUNM, AIT, SIG, INGR, TRMLF
Q1 2025 131$516.4MUNM, AIT, WSO, TRMLF, INGR
Q4 2024 133$527.3MUNM, AIT, INGR, TRMLF, WSO
Q3 2024 128$546.8MAIT, UNM, BF.B, SIG, INGR
Q2 2024 132$525.7MAIT, UNM, WSO, TRMLF, BF.B
Q1 2024 131$548.6MAIT, UNM, NUE, SIG, TRMLF