GRACE & WHITE INC /NY

NY, NY · CIK 903064 · 13F filing filed 2023-02-02

SEC-registered investment adviser since 1977 · corporation

Assets managed$964.2m
Staff5 · 4 in investment roles
Main clients (by assets)High net worth individuals 95%, Pension plans 3%, Companies 1%
Main officeNew York, NY
Form ADV · 2026-05-08SEC adviser record

$505.2m reported value +8.9% vs Q3 2022

131positions

34.5%in top 10

4 new 22 added 40 reduced 4 sold out vs Q3 2022

Holdings, Q4 2022

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	BROWN FORMAN CORP CL B BF.B	BF.B	367,798	$24.2m4.78%	4.78%	Unchanged
2	UNUM GROUP COM UNM	UNM	560,823	$23.0m4.55%	4.55%	Reduced -20.9k	-20,929 -3.6%
3	Tourmaline Oil Corp COM TRMLF	TRMLF	417,558	$21.1m4.17%	4.17%	Reduced -5.5k	-5,539 -1.3%
4	APPLIED INDL TECHNOLOGIES IN COM AIT	AIT	163,665	$20.6m4.08%	4.08%	Reduced -3.0k	-3,000 -1.8%
5	EVEREST GROUP LTD COM EG	EG	48,765	$16.2m3.20%	3.20%	Reduced -2.6k	-2,617 -5.1%
6	INGREDION INC COM INGR	INGR	156,366	$15.3m3.03%	3.03%	Reduced -1.9k	-1,924 -1.2%
7	FIRST SOLAR INC COM FSLR	FSLR	101,500	$15.2m3.01%	3.01%	Reduced -4.5k	-4,500 -4.2%
8	NUCOR CORP COM NUE	NUE	108,862	$14.3m2.84%	2.84%	Reduced -2.2k	-2,249 -2.0%
9	SIGNET JEWELERS LIMITED SHS SIG	SIG	198,511	$13.5m2.67%	2.67%	Reduced -1.9k	-1,899 -0.9%
10	WATSCO INC COM WSO	WSO	42,925	$10.7m2.12%	2.12%	Unchanged
11	WEST PHARMACEUTICAL SVSC INC COM WST	WST	45,090	$10.6m2.10%	2.10%	Added +1.5k	+1,500 3.4%
12	BRIGHTHOUSE FINL INC COM BHF	BHF	205,375	$10.5m2.08%	2.08%	Reduced -14.3k	-14,350 -6.5%
13	ALAMO GROUP INC COM ALG	ALG	69,052	$9.8m1.94%	1.94%	Unchanged
14	UNITED PARCEL SERVICE INC CL B UPS	UPS	53,690	$9.3m1.85%	1.85%	Unchanged
15	TOPGOLF CALLAWAY BRANDS CORP COM CALY	CALY	457,444	$9.0m1.79%	1.79%	Added +30.9k	+30,900 7.2%
16	GORMAN RUPP CO COM GRC	GRC	352,206	$9.0m1.79%	1.79%	Reduced -2.3k	-2,316 -0.7%
17	AEGON N V NY REGISTRY SHS NY REGISTRY SHS		1,790,355	$9.0m1.79%	1.79%	Reduced -117.3k	-117,255 -6.2%
18	CTO RLTY GROWTH INC NEW COM CTO	CTO	464,968	$8.5m1.68%	1.68%	Added +2.0k	+2,000 0.4%
19	TEXTAINER GROUP HOLDINGS LTD SHS TGH	TGH	272,691	$8.5m1.67%	1.67%	Unchanged
20	STEPAN CO COM SCL	SCL	77,697	$8.3m1.64%	1.64%	Added +300	+300 0.4%
21	ARGO GROUP INTL HLDGS LTD COM AGII	AGII	309,506	$8.0m1.58%	1.58%	Added +3.0k	+3,000 1.0%
22	MANULIFE FINL CORP COM MFC	MFC	443,430	$7.9m1.57%	1.57%	Added +7.2k	+7,200 1.6%
23	JOHNSON & JOHNSON COM JNJ	JNJ	40,800	$7.2m1.43%	1.43%	Unchanged
24	KIMCO RLTY CORP COM KIM	KIM	333,078	$7.1m1.40%	1.40%	Reduced -4.9k	-4,874 -1.4%
25	SUMMIT HOTEL PPTYS INC COM INN	INN	925,885	$6.7m1.32%	1.32%	Reduced -5.3k	-5,276 -0.6%
26	HOLMEN AB-B COM HLMMF	HLMMF	165,992	$6.6m1.31%	1.31%	Reduced -3.0k	-3,000 -1.8%
27	BROWN FORMAN CORP CL A BF.A	BF.A	96,555	$6.3m1.26%	1.26%	Unchanged
28	ASIA FINANCIAL HOLDINGS LTD SH COM 662	662	13,849,916	$6.3m1.25%	1.25%	Added +199.5k	+199,501 1.5%
29	URSTADT BIDDLE PPTYS INC CL A UBA	UBA	318,577	$6.0m1.19%	1.19%	Reduced -6.3k	-6,350 -1.9%
30	BOEING CO COM BA	BA	30,750	$5.9m1.16%	1.16%	Unchanged
31	GRUPO ROTOPLAS SAB DE CV COM COM		3,403,929	$5.5m1.09%	1.09%	Unchanged
32	AMERICAN WOODMARK CORPORATIO COM AMWD	AMWD	110,995	$5.4m1.07%	1.07%	Unchanged
33	MURPHY OIL CORP COM MUR	MUR	125,852	$5.4m1.07%	1.07%	Reduced -29.5k	-29,452 -19.0%
34	GENERAL DYNAMICS CORP COM GD	GD	20,000	$5.0m0.98%	0.98%	Unchanged
35	BERKSHIRE HILLS BANCORP INC COM BBT	BBT	161,089	$4.8m0.95%	0.95%	Reduced -4.3k	-4,343 -2.6%
36	PEPSICO INC COM PEP	PEP	26,089	$4.7m0.93%	0.93%	Reduced -560	-560 -2.1%
37	WILLIAMS SONOMA INC COM WSM	WSM	40,190	$4.6m0.91%	0.91%	Added +775	+775 2.0%
38	PHOENIX COS INC NEW QUIBS 2032 PREFERRED STOCKS PNX 7.45 01.15.32	PNX 7.45 01.15.32	262,432	$4.6m0.90%	0.90%	Reduced -4.5k	-4,468 -1.7%
39	TRITON INTL LTD CL A TRTN	TRTN	65,172	$4.5m0.89%	0.89%	Reduced -1.4k	-1,426 -2.1%
40	SOUTH JERSEY INDS INC COM SJI	SJI	121,200	$4.3m0.85%	0.85%	Reduced -2.5k	-2,500 -2.0%
41	HMN FINL INC COM COM		193,755	$4.1m0.82%	0.82%	Unchanged
42	HELMERICH & PAYNE INC COM HP	HP	80,786	$4.0m0.79%	0.79%	Reduced -1.1k	-1,101 -1.3%
43	ALLIANT ENERGY CORP COM LNT	LNT	69,013	$3.8m0.75%	0.75%	Reduced -3.3k	-3,332 -4.6%
44	KIMBALL INTL INC CL B KBAL	KBAL	579,836	$3.8m0.75%	0.75%	Added +35.0k	+35,000 6.4%
45	COTERRA ENERGY INC COM CTRA	CTRA	151,240	$3.7m0.74%	0.74%	Unchanged
46	ORION GROUP HLDGS INC COM ORN	ORN	1,551,839	$3.7m0.73%	0.73%	Added +400	+400 0.0%
47	VESTAS WIND SYS AS UNSP ADR COM VWDRY	VWDRY	343,500	$3.3m0.65%	0.65%	Unchanged
48	CAPITAL SOUTHWEST CORP COM CSWC	CSWC	177,471	$3.0m0.60%	0.60%	Added +8.0k	+8,000 4.7%
49	BRASILAGRO COMPANHIA BRASILE SPONSORED ADR LND	LND	526,241	$3.0m0.59%	0.59%	Reduced -5.0k	-5,035 -0.9%
50	EXXON MOBIL CORP COM XOM	XOM	27,099	$3.0m0.59%	0.59%	Unchanged
51	BROADWIND INC COM NEW BWEN	BWEN	1,607,542	$2.9m0.57%	0.57%	Unchanged
52	DEVON ENERGY CORP NEW COM DVN	DVN	46,586	$2.9m0.57%	0.57%	Unchanged
53	MS&AD INS GP HLDG (8725-JP) COM MSADF	MSADF	86,895	$2.8m0.55%	0.55%	Reduced -765	-765 -0.9%
54	KIMBALL ELECTRONICS INC COM KE	KE	120,250	$2.7m0.54%	0.54%	Unchanged
55	GRAHAM CORP COM GHM	GHM	270,114	$2.6m0.51%	0.51%	Reduced -2.2k	-2,228 -0.8%
56	ENERPLUS CORP COM ERF	ERF	145,984	$2.6m0.51%	0.51%	Reduced -1.1k	-1,100 -0.8%
57	EXCO TECHNOLOGIES LTD COM COM EXCOF	EXCOF	442,050	$2.5m0.50%	0.50%	Added +84.8k	+84,750 23.7%
58	WESTPORT FUEL SYSTEMS INC COM NEW COM NEW		3,226,802	$2.5m0.49%	0.49%	Added +89.0k	+89,046 2.8%
59	Tokio Marine Holdings Inc ADR TKOMY	TKOMY	113,010	$2.4m0.48%	0.48%	Unchanged
60	MERCK & CO INC COM MRK	MRK	20,267	$2.2m0.45%	0.45%	Reduced -1.5k	-1,500 -6.9%
61	MICROSOFT CORP COM MSFT	MSFT	9,150	$2.2m0.43%	0.43%	Unchanged
62	FUEL TECH INC COM FTEK	FTEK	1,713,933	$2.2m0.43%	0.43%	Unchanged
63	TWIN DISC INC COM TWIN	TWIN	223,385	$2.2m0.43%	0.43%	Unchanged
64	SWATCH GROUP AG NAMEN AKT COM SWGNF	SWGNF	41,425	$2.2m0.43%	0.43%	Reduced -375	-375 -0.9%
65	TITAN INTL INC ILL COM TWI	TWI	139,322	$2.1m0.42%	0.42%	Unchanged
66	DAWSON GEOPHYSICAL CO NEW COM DWSN	DWSN	1,053,894	$2.1m0.41%	0.41%	Unchanged
67	APOGEE ENTERPRISES INC COM APOG	APOG	42,000	$1.9m0.37%	0.37%	Reduced -1.0k	-1,000 -2.3%
68	ASTRONOVA INC COM ALOT	ALOT	142,809	$1.8m0.36%	0.36%	Reduced -3.9k	-3,850 -2.6%
69	IRISH RESIDENTL PPTYS REIT POR COM RSHPF	RSHPF	1,502,608	$1.8m0.35%	0.35%	Unchanged
70	KEARNY FINL CORP MD COM KRNY	KRNY	173,309	$1.8m0.35%	0.35%	Reduced -2.2k	-2,181 -1.2%
71	WESTERN AST INFL LKD OPP & I COM WIW	WIW	184,197	$1.7m0.33%	0.33%	Reduced -3.6k	-3,575 -1.9%
72	BROADWAY FINL CORP DEL COM COM		1,557,942	$1.6m0.31%	0.31%	Added +121.2k	+121,215 8.4%
73	APPLE INC COM AAPL	AAPL	12,059	$1.6m0.31%	0.31%	Added +840	+840 7.5%
74	GENESIS LAND DEV CORP COM COM GNLAF	GNLAF	1,036,506	$1.6m0.31%	0.31%	Added +69.0k	+69,000 7.1%
75	ORION ENERGY SYS INC COM OESX	OESX	839,844	$1.5m0.30%	0.30%	Unchanged
76	CHUBU NIPPON BROADCAST CO LTSH COM 9402	9402	374,470	$1.5m0.30%	0.30%	Unchanged
77	RAYONIER ADVANCED MATLS INC COM RYAM	RYAM	147,365	$1.4m0.28%	0.28%	Reduced -109.0k	-109,008 -42.5%
78	SHELL PLC SPON ADS SHEL	SHEL	24,816	$1.4m0.28%	0.28%	Unchanged
79	FREQUENCY ELECTRS INC COM FEIM	FEIM	192,453	$1.4m0.27%	0.27%	Reduced -30.2k	-30,230 -13.6%
80	SENSTAR TECHNOLOGIES LTD ORD ORD		1,032,074	$1.3m0.26%	0.26%	Added +151.1k	+151,095 17.1%
81	VIRGINIA NATL BANKSHARES COR COM VABK	VABK	34,279	$1.3m0.25%	0.25%	Unchanged
82	BERKLEY W R CORP COM WRB	WRB	16,580	$1.2m0.24%	0.24%	Unchanged
83	BRUNSWICK BANCORP INC COM COM COM		70,152	$1.2m0.24%	0.24%	Unchanged
84	VESTAS WIND SYS AS SHS COM 0NMK	0NMK	37,500	$1.1m0.22%	0.22%	Unchanged
85	BANG & OLUFSEN HLG ORD B COM BGOUF	BGOUF	896,386	$1.1m0.21%	0.21%	Reduced -26.6k	-26,600 -2.9%
86	SANDY SPRING BANCORP INC COM SASR	SASR	28,245	$995.1k0.20%	0.20%	Unchanged
87	CULP INC COM CULP	CULP	209,169	$960.1k0.19%	0.19%	Reduced -8.3k	-8,315 -3.8%
88	NORTHWEST NAT HLDG CO COM NWN	NWN	20,014	$952.5k0.19%	0.19%	Unchanged
89	ALPHABET INC CAP STK CL A GOOGL	GOOGL	10,450	$922.0k0.18%	0.18%	Unchanged
90	CSW INDUSTRIALS INC COM CSW	CSW	7,853	$910.4k0.18%	0.18%	Unchanged
91	SUZANO S A SPON ADS SUZ	SUZ	93,724	$866.0k0.17%	0.17%	Unchanged
92	WESTROCK CO COM WRK	WRK	22,660	$796.7k0.16%	0.16%	Reduced -675	-675 -2.9%
93	URSTADT BIDDLE PPTYS INC COM COM		40,663	$740.5k0.15%	0.15%	Reduced -501	-501 -1.2%
94	FAIRFAX INDIA HLDGS CORP COM S COM FFXDF	FFXDF	59,560	$731.4k0.14%	0.14%	Added +10.0k	+10,000 20.2%
95	CIMC ENRIC HOLDINGS LTD SHS COM CIMEF	CIMEF	713,500	$721.6k0.14%	0.14%	Reduced -37.5k	-37,500 -5.0%
96	KEWEENAW LD ASSN LTD COM COM KEWL	KEWL	33,948	$687.4k0.14%	0.14%	Unchanged
97	PFIZER INC COM PFE	PFE	11,998	$614.8k0.12%	0.12%	Unchanged
98	CHS Inc PREFERRED STOCK CHSINC V6.75 PERP 3	CHSINC V6.75 PERP 3	24,579	$590.6k0.12%	0.12%	Unchanged
99	BRISTOL-MYERS SQUIBB CO COM BMY	BMY	8,073	$580.9k0.11%	0.11%	Unchanged
100	SPINNOVA OYJ COM COM		96,324	$561.3k0.11%	0.11%	Added +5.0k	+5,000 5.5%

Sold out since Q3 2022

Security	Ticker	Shares held before	Value then
WALMART INC WMT	WMT	2,950	$383.0k3.0k shares
ALPHABET INC GOOG	GOOG	2,160	$208.0k2.2k shares
TUESDAY MORNING CORP		1,683,330	$203.0k1.7m shares
RHINEBECK BANCORP INC		12,462	$122.0k12.5k shares

Stakes above 5%

Companies where this manager has reported owning more than 5% of a class of shares, on Schedule 13D (may seek influence) or 13G (passive): its latest filing for each, from 19 Dec 2024 on.

Company	Ticker	Stake	Change	Schedule	Last filed
BROADWIND INC BWEN · 13G · filed 2026-01-27	BWEN	8.8%≈ $9.9m	-0.2 pts	13G	2026-01-27
ORION ENERGY SYS INC OESX · 13G · filed 2025-02-05	OESX	8.5%		13G	2025-02-05
WESTPORT FUEL SYSTEMS INC WPRT · 13G · filed 2026-01-27	WPRT	6.7%≈ $2.6m	+0.6 pts	13G	2026-01-27
ORION ENERGY SYS INC OESX · 13G · filed 2026-01-27	OESX	6.3%≈ $2.6m		13G	2026-01-27
GEOSPACE TECHNOLOGIES CORP GEOS · 13G · filed 2026-10-07	GEOS	6.1%≈ $5.4m	new	13G	2026-10-07