# Walthausen & Co., LLC

> Institutional holdings reported to the SEC as of Q3 2022 on Form 13F. CIK 1483339. Source: https://holderbook.com/funds/1483339-walthausen-co-llc/

- Reported value: $119.8M
- Positions: 95
- Weight of the ten largest: 15.4%
- Filed: 2022-11-14

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| LUCKY STRIKE ENTERTAINMENT C | [LUCK](https://holderbook.com/stocks/LUCK/) | $2.1M | 169,330 | 1.7% | 3 |
| BEACON ROOFING SUPPLY INC | [BECN](https://holderbook.com/stocks/BECN/) | $1.9M | 34,950 | 1.6% | 6 |
| KIRBY CORP | [KEX](https://holderbook.com/stocks/KEX/) | $1.9M | 31,000 | 1.6% | 6 |
| CITY HLDG CO | [CHCO](https://holderbook.com/stocks/CHCO/) | $1.8M | 20,738 | 1.5% | 16 |
| HERITAGE CRYSTAL CLEAN INC | [HCCI](https://holderbook.com/stocks/HCCI/) | $1.8M | 62,204 | 1.5% | 16 |
| EXPAND ENERGY CORPORATION | [EXE](https://holderbook.com/stocks/EXE/) | $1.8M | 19,360 | 1.5% | 6 |
| RYDER SYS INC | [R](https://holderbook.com/stocks/R/) | $1.8M | 23,750 | 1.5% | 6 |
| COMMERCIAL METALS CO | [CMC](https://holderbook.com/stocks/CMC/) | $1.8M | 50,270 | 1.5% | 7 |
| AEROJET ROCKETDYNE HLDGS INC | [AJRD](https://holderbook.com/stocks/AJRD/) | $1.8M | 44,040 | 1.5% | 3 |
| MCGRATH RENTCORP | [MGRC](https://holderbook.com/stocks/MGRC/) | $1.7M | 20,732 | 1.5% | 16 |
| WESBANCO INC | [WSBC](https://holderbook.com/stocks/WSBC/) | $1.7M | 50,780 | 1.4% | 8 |
| TITAN MACHY INC | [TITN](https://holderbook.com/stocks/TITN/) | $1.7M | 59,443 | 1.4% | 5 |
| GULFPORT ENERGY CORP | [GPOR](https://holderbook.com/stocks/GPOR/) | $1.7M | 18,925 | 1.4% | 6 |
| HUB GROUP INC | [HUBG](https://holderbook.com/stocks/HUBG/) | $1.7M | 24,100 | 1.4% | 8 |
| NBT BANCORP INC | [NBTB](https://holderbook.com/stocks/NBTB/) | $1.6M | 43,322 | 1.4% | 16 |
| INDEPENDENT BK CORP MASS | [INDB](https://holderbook.com/stocks/INDB/) | $1.6M | 21,860 | 1.4% | 8 |
| WSFS FINL CORP | [WSFS](https://holderbook.com/stocks/WSFS/) | $1.6M | 34,913 | 1.4% | 10 |
| HANCOCK WHITNEY CORPORATION | [HWC](https://holderbook.com/stocks/HWC/) | $1.6M | 35,300 | 1.3% | 8 |
| COMFORT SYS USA INC | [FIX](https://holderbook.com/stocks/FIX/) | $1.6M | 16,487 | 1.3% | 5 |
| AAON INC | [AAON](https://holderbook.com/stocks/AAON/) | $1.6M | 29,510 | 1.3% | 2 |
| EMCOR GROUP INC | [EME](https://holderbook.com/stocks/EME/) | $1.6M | 13,678 | 1.3% | 16 |
| EASTERN BANKSHARES INC | [EBC](https://holderbook.com/stocks/EBC/) | $1.6M | 80,140 | 1.3% | 6 |
| PINNACLE FINL PARTNERS INC | [PNFP](https://holderbook.com/stocks/PNFP/) | $1.6M | 19,310 | 1.3% | 1 |
| SEABOARD CORP DEL | [SEB](https://holderbook.com/stocks/SEB/) | $1.6M | 456 | 1.3% | 5 |
| TRICO BANCSHARES | [TCBK](https://holderbook.com/stocks/TCBK/) | $1.5M | 34,380 | 1.3% | 16 |
| FIRST FINANCIAL CORPORATION | [THFF](https://holderbook.com/stocks/THFF/) | $1.5M | 33,760 | 1.3% | 16 |
| WEBSTER FINL CORP | [WBS](https://holderbook.com/stocks/WBS/) | $1.5M | 33,430 | 1.3% | 7 |
| HELMERICH & PAYNE INC | [HP](https://holderbook.com/stocks/HP/) | $1.5M | 40,420 | 1.2% | 3 |
| MATERION CORP | [MTRN](https://holderbook.com/stocks/MTRN/) | $1.5M | 18,135 | 1.2% | 16 |
| MUELLER INDS INC | [MLI](https://holderbook.com/stocks/MLI/) | $1.4M | 23,952 | 1.2% | 16 |
| HAEMONETICS CORP MASS | [HAE](https://holderbook.com/stocks/HAE/) | $1.4M | 19,226 | 1.2% | 3 |
| CAMDEN NATL CORP | [CAC](https://holderbook.com/stocks/CAC/) | $1.4M | 33,386 | 1.2% | 16 |
| CAVCO INDS INC DEL | [CVCO](https://holderbook.com/stocks/CVCO/) | $1.4M | 6,876 | 1.2% | 14 |
| AXCELIS TECHNOLOGIES INC | [ACLS](https://holderbook.com/stocks/ACLS/) | $1.4M | 23,270 | 1.2% | 8 |
| INDEPENDENT BANK GROUP INC | [IBTX](https://holderbook.com/stocks/IBTX/) | $1.4M | 22,950 | 1.2% | 6 |
| SEACOAST BKG CORP FLA | [SBCF](https://holderbook.com/stocks/SBCF/) | $1.4M | 46,385 | 1.2% | 9 |
| FIRST BANCORP N C | [FBNC](https://holderbook.com/stocks/FBNC/) | $1.4M | 38,240 | 1.2% | 14 |
| CHESAPEAKE UTILS CORP | [CPK](https://holderbook.com/stocks/CPK/) | $1.4M | 12,080 | 1.2% | 4 |
| MONRO INC | [MNRO](https://holderbook.com/stocks/MNRO/) | $1.4M | 31,717 | 1.1% | 8 |
| WASHINGTON TR BANCORP INC | [WASH](https://holderbook.com/stocks/WASH/) | $1.4M | 29,351 | 1.1% | 9 |
| HORIZON BANCORP IND | [HBNC](https://holderbook.com/stocks/HBNC/) | $1.4M | 75,820 | 1.1% | 6 |
| VISHAY PRECISION GROUP INC | [VPG](https://holderbook.com/stocks/VPG/) | $1.4M | 45,680 | 1.1% | 6 |
| VALVOLINE INC | [VVV](https://holderbook.com/stocks/VVV/) | $1.3M | 53,010 | 1.1% | 5 |
| THERMON GROUP HLDGS INC | [THR](https://holderbook.com/stocks/THR/) | $1.3M | 86,195 | 1.1% | 6 |
| MERIT MED SYS INC | [MMSI](https://holderbook.com/stocks/MMSI/) | $1.3M | 23,357 | 1.1% | 12 |
| OCEANFIRST FINL CORP | [OCFC](https://holderbook.com/stocks/OCFC/) | $1.3M | 70,365 | 1.1% | 16 |
| METHODE ELECTRS INC | [MEI](https://holderbook.com/stocks/MEI/) | $1.3M | 34,950 | 1.1% | 10 |
| CHAMPION HOMES INC | [SKY](https://holderbook.com/stocks/SKY/) | $1.3M | 24,450 | 1.1% | 7 |
| ALIGHT INC | [ALIT](https://holderbook.com/stocks/ALIT/) | $1.3M | 175,900 | 1.1% | 5 |
| CONCENTRIX CORP | [CNXC](https://holderbook.com/stocks/CNXC/) | $1.3M | 11,478 | 1.1% | 7 |
| ENCORE WIRE CORP | [WIRE](https://holderbook.com/stocks/WIRE/) | $1.3M | 11,000 | 1.1% | 3 |
| HACKETT GROUP INC | [HCKT](https://holderbook.com/stocks/HCKT/) | $1.3M | 71,602 | 1.1% | 10 |
| ONTO INNOVATION INC | [ONTO](https://holderbook.com/stocks/ONTO/) | $1.2M | 19,156 | 1.0% | 11 |
| UMH PPTYS INC | [UMH](https://holderbook.com/stocks/UMH/) | $1.2M | 75,970 | 1.0% | 13 |
| MAXIMUS INC | [MMS](https://holderbook.com/stocks/MMS/) | $1.2M | 20,806 | 1.0% | 11 |
| COHU INC | [COHU](https://holderbook.com/stocks/COHU/) | $1.2M | 45,925 | 1.0% | 5 |
| ENCOMPASS HEALTH CORP | [EHC](https://holderbook.com/stocks/EHC/) | $1.2M | 26,094 | 1.0% | 16 |
| MERCER INTL INC | [MERC](https://holderbook.com/stocks/MERC/) | $1.2M | 94,848 | 1.0% | 16 |
| MERCURY SYS INC | [MRCY](https://holderbook.com/stocks/MRCY/) | $1.2M | 28,690 | 1.0% | 3 |
| ALAMO GROUP INC | [ALG](https://holderbook.com/stocks/ALG/) | $1.1M | 9,266 | 0.9% | 4 |
| OSI SYSTEMS INC | [OSIS](https://holderbook.com/stocks/OSIS/) | $1.1M | 15,530 | 0.9% | 9 |
| ADDUS HOMECARE CORP | [ADUS](https://holderbook.com/stocks/ADUS/) | $1.1M | 11,720 | 0.9% | 2 |
| PROPETRO HLDG CORP | [PUMP](https://holderbook.com/stocks/PUMP/) | $1.1M | 138,450 | 0.9% | 4 |
| FEDERAL AGRIC MTG CORP | [AGM](https://holderbook.com/stocks/AGM/) | $1.1M | 11,190 | 0.9% | 10 |
| NUVASIVE INC | [NUVA](https://holderbook.com/stocks/NUVA/) | $1.1M | 25,291 | 0.9% | 8 |
| ALLIENT INC | [ALNT](https://holderbook.com/stocks/ALNT/) | $1.1M | 38,355 | 0.9% | 16 |
| VSE CORP | [VSEC](https://holderbook.com/stocks/VSEC/) | $1.1M | 30,291 | 0.9% | 8 |
| NORTHERN OIL & GAS INC | [NOG](https://holderbook.com/stocks/NOG/) | $1.1M | 38,910 | 0.9% | 2 |
| ADVANSIX INC | [ASIX](https://holderbook.com/stocks/ASIX/) | $1.1M | 33,130 | 0.9% | 2 |
| TENNANT CO | [TNC](https://holderbook.com/stocks/TNC/) | $1.1M | 18,802 | 0.9% | 7 |
| ORION S.A. | [OEC](https://holderbook.com/stocks/OEC/) | $1.1M | 78,742 | 0.9% | 3 |
| LAKELAND FINL CORP | [LKFN](https://holderbook.com/stocks/LKFN/) | $1.0M | 13,875 | 0.8% | 16 |
| ABM INDS INC | [ABM](https://holderbook.com/stocks/ABM/) | $1.0M | 26,230 | 0.8% | 16 |
| EPR PPTYS | [EPR](https://holderbook.com/stocks/EPR/) | $999.0K | 27,855 | 0.8% | 7 |
| V2X INC | [VVX](https://holderbook.com/stocks/VVX/) | $986.0K | 27,848 | 0.8% | 10 |
| EARTHSTONE ENERGY INC | [ESTE](https://holderbook.com/stocks/ESTE/) | $956.0K | 77,600 | 0.8% | 2 |
| HEARTLAND FINL USA INC | [HTLF](https://holderbook.com/stocks/HTLF/) | $953.0K | 21,974 | 0.8% | 16 |
| TRIMAS CORP | [TRS](https://holderbook.com/stocks/TRS/) | $951.0K | 37,940 | 0.8% | 4 |
| SHYFT GROUP INC | [SHYF](https://holderbook.com/stocks/SHYF/) | $937.0K | 45,856 | 0.8% | 1 |
| AZZ INC | [AZZ](https://holderbook.com/stocks/AZZ/) | $915.0K | 25,050 | 0.8% | 11 |
| CLEVELAND-CLIFFS INC NEW | [CLF](https://holderbook.com/stocks/CLF/) | $911.0K | 67,630 | 0.8% | 7 |
| LHC GROUP INC | [LHCG](https://holderbook.com/stocks/LHCG/) | $874.0K | 5,340 | 0.7% | 4 |
| OCEANEERING INTL INC | [OII](https://holderbook.com/stocks/OII/) | $835.0K | 104,846 | 0.7% | 3 |
| G III APPAREL GROUP LTD | [GIII](https://holderbook.com/stocks/GIII/) | $818.0K | 54,700 | 0.7% | 7 |
| VISTA OUTDOOR INC | [VSTO](https://holderbook.com/stocks/VSTO/) | $809.0K | 33,260 | 0.7% | 5 |
| LSI INDS INC OHIO | [LYTS](https://holderbook.com/stocks/LYTS/) | $733.0K | 95,280 | 0.6% | 6 |
| GREAT LAKES DREDGE & DOCK CO | [GLDD](https://holderbook.com/stocks/GLDD/) | $656.0K | 86,551 | 0.5% | 16 |
| NMI HLDGS INC | [NMIH](https://holderbook.com/stocks/NMIH/) | $656.0K | 32,187 | 0.5% | 8 |
| KULICKE & SOFFA INDS INC | [KLIC](https://holderbook.com/stocks/KLIC/) | $605.0K | 15,690 | 0.5% | 16 |
| GLOBAL MED REIT INC | [GMREXXXX](https://holderbook.com/stocks/GMREXXXX/) | $583.0K | 68,397 | 0.5% | 9 |
| SIGNET JEWELERS LIMITED | [SIG](https://holderbook.com/stocks/SIG/) | $556.0K | 9,725 | 0.5% | 7 |
| KNOWLES CORP | [KN](https://holderbook.com/stocks/KN/) | $534.0K | 43,849 | 0.4% | 11 |
| TRIUMPH FINANCIAL INC | [TFIN](https://holderbook.com/stocks/TFIN/) | $488.0K | 8,982 | 0.4% | 5 |
| KIMBALL ELECTRONICS INC | [KE](https://holderbook.com/stocks/KE/) | $429.0K | 25,015 | 0.4% | 16 |
| STEWART INFORMATION SVCS COR | [STC](https://holderbook.com/stocks/STC/) | $342.0K | 7,833 | 0.3% | 14 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q3 2022 | -3.4% | -5.3% | +2.0% | 100% |
| Q2 2022 | -13.5% | -16.5% | +3.0% | 100% |
| Q1 2022 | -4.7% | -4.9% | +0.2% | 99% |
| Q4 2021 | +7.5% | +10.7% | -3.1% | 99% |
| Q3 2021 | -1.2% | +0.3% | -1.5% | 100% |
| Q2 2021 | +2.9% | +8.0% | -5.1% | 99% |
| Q1 2021 | +20.9% | +6.0% | +14.9% | 100% |
| Q4 2020 | +28.7% | +11.6% | +17.0% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q3 2022 | $119.8M | 95 |
| Q2 2022 | $223.1M | 140 |
| Q1 2022 | $354.5M | 140 |
| Q4 2021 | $381.1M | 141 |
| Q3 2021 | $394.9M | 141 |
| Q2 2021 | $927.5M | 159 |
| Q1 2021 | $474.4M | 141 |
| Q4 2020 | $366.6M | 137 |
| Q3 2020 | $482.0M | 132 |
| Q2 2020 | $492.6M | 128 |
| Q1 2020 | $466.6M | 128 |
| Q4 2019 | $763.4M | 139 |