REINHART PARTNERS, LLC.

MEQUON, WI · CIK 1080298 · 13F filing filed 2025-01-13

SEC-registered investment adviser since 1991 · limited liability company

Assets managed$2.5bn
Staff16 · 6 in investment roles
Main clients (by assets)State and local governments 34%, Mutual funds and ETFs 27%, Companies 15%
Websitereinhartpartners.com
Form ADV · 2026-05-18SEC adviser record

Legal entityREINHART PARTNERS, LLC (US)

$2.6bn reported value -1.3% vs Q3 2024

78positions

36.0%in top 10

5 new 31 added 39 reduced 7 sold out vs Q3 2024

Also in the report of:

Dorsey & Whitney Trust CO LLC – $270.2k of shares are in both reports

Shares in two reports are counted once in each security's totals.

Holdings, Q4 2024

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	FIRST CTZNS BANCSHARES INC N CL A FCNCA	FCNCA	57,981	$122.5m4.71%	4.71%	Added +1.2k	+1,183 2.1%
2	LANTHEUS HLDGS INC COM LNTH	LNTH	1,366,873	$122.3m4.70%	4.70%	Added +123.3k	+123,282 9.9%
3	FRONTDOOR INC COM FTDR	FTDR	2,037,618	$111.4m4.29%	4.29%	Reduced -239.1k	-239,078 -10.5%
4	U HAUL HOLDING COMPANY COM SER N UHAL.B	UHAL.B	1,581,127	$101.3m3.90%	3.90%	Added +510.5k	+510,481 47.7%
5	INSPERITY INC COM NSP	NSP	1,171,843	$90.8m3.49%	3.49%	Added +89.8k	+89,809 8.3%
6	ASSURED GUARANTY LTD COM AGO	AGO	1,005,784	$90.5m3.48%	3.48%	Added +28.0k	+28,026 2.9%
7	AIR LEASE CORP CL A AL	AL	1,585,790	$76.5m2.94%	2.94%	Added +42.0k	+42,034 2.7%
8	WHITE MTNS INS GROUP LTD COM WTM	WTM	38,272	$74.4m2.86%	2.86%	Reduced -1.1k	-1,097 -2.8%
9	HILLMAN SOLUTIONS CORP COM HLMN	HLMN	7,612,474	$74.1m2.85%	2.85%	Added +130.3k	+130,273 1.7%
10	MARCUS & MILLICHAP INC COM MMI	MMI	1,909,491	$73.1m2.81%	2.81%	Added +73.8k	+73,792 4.0%
11	ACI WORLDWIDE INC COM ACIW	ACIW	1,407,815	$73.0m2.81%	2.81%	Reduced -962	-962 -0.1%
12	WINTRUST FINL CORP COM WTFC	WTFC	584,589	$72.9m2.81%	2.81%	Reduced -196.8k	-196,804 -25.2%
13	AXCELIS TECHNOLOGIES INC COM NEW ACLS	ACLS	1,036,112	$72.4m2.79%	2.79%	Added +348.5k	+348,504 50.7%
14	INTERDIGITAL INC COM IDCC	IDCC	360,238	$69.8m2.69%	2.69%	Added +164.2k	+164,223 83.8%
15	FIRST AMERN FINL CORP COM FAF	FAF	1,042,158	$65.1m2.50%	2.50%	Added +28.8k	+28,755 2.8%
16	EURONET WORLDWIDE INC COM EEFT	EEFT	627,149	$64.5m2.48%	2.48%	Added +20.8k	+20,824 3.4%
17	SILICON MOTION TECHNOLOGY CO SPONSORED ADR SIMO	SIMO	1,135,738	$61.4m2.36%	2.36%	Added +55.4k	+55,363 5.1%
18	ENCOMPASS HEALTH CORP COM EHC	EHC	656,320	$60.6m2.33%	2.33%	Reduced -16.7k	-16,720 -2.5%
19	ADAPTHEALTH CORP COMMON STOCK AHCO	AHCO	6,266,854	$59.7m2.30%	2.30%	Added +68.2k	+68,212 1.1%
20	PAR TECHNOLOGY CORP COM PAR	PAR	746,660	$54.3m2.09%	2.09%	Reduced -200.1k	-200,113 -21.1%
21	GRAND CANYON ED INC COM LOPE	LOPE	330,946	$54.2m2.09%	2.09%	Added +5.3k	+5,339 1.6%
22	FIRST HAWAIIAN INC COM FHB	FHB	2,020,442	$52.4m2.02%	2.02%	Reduced -440.9k	-440,877 -17.9%
23	ASGN INC COM EFOR	EFOR	587,193	$48.9m1.88%	1.88%	Reduced -1.8k	-1,806 -0.3%
24	GMS INC COM COM		541,519	$45.9m1.77%	1.77%	Added +12.1k	+12,099 2.3%
25	ALEXANDER & BALDWIN INC NEW COM ALEX	ALEX	2,469,815	$43.8m1.69%	1.69%	Reduced -84.1k	-84,097 -3.3%
26	INTERNATIONAL BANCSHARES COR COM IBOC	IBOC	687,160	$43.4m1.67%	1.67%	Added +5.0k	+5,016 0.7%
27	MAXIMUS INC COM MMS	MMS	551,146	$41.1m1.58%	1.58%	Added +167.0k	+167,019 43.5%
28	RYMAN HOSPITALITY PPTYS INC COM RHP	RHP	275,888	$39.2m1.51%	1.51%	Reduced -107.1k	-107,138 -28.0%
29	MODINE MFG CO COM MOD	MOD	304,808	$35.3m1.36%	1.36%	Reduced -864	-864 -0.3%
30	THOR INDS INC COM THO	THO	360,142	$34.5m1.33%	1.33%	Added +40.9k	+40,868 12.8%
31	ELEMENT SOLUTIONS INC COM ESI	ESI	1,275,161	$32.4m1.25%	1.25%	Added +34.3k	+34,274 2.8%
32	GENTEX CORP COM GNTX	GNTX	1,124,403	$32.3m1.24%	1.24%	Added +20.6k	+20,624 1.9%
33	ISHARES TR RUSSELL 2000 ETF IWM	IWM	144,731	$32.0m1.23%	1.23%	New
34	SPROUTS FMRS MKT INC COM SFM	SFM	228,011	$29.0m1.11%	1.11%	Reduced -98.3k	-98,300 -30.1%
35	GXO LOGISTICS INCORPORATED COMMON STOCK GXO	GXO	600,136	$26.1m1.00%	1.00%	Reduced -8.6k	-8,558 -1.4%
36	CARTERS INC COM CRI	CRI	467,763	$25.3m0.98%	0.98%	Reduced -56.2k	-56,176 -10.7%
37	TRINET GROUP INC COM TNET	TNET	234,068	$21.2m0.82%	0.82%	Added +1.1k	+1,113 0.5%
38	FORMFACTOR INC COM FORM	FORM	443,414	$19.5m0.75%	0.75%	Added +18.6k	+18,561 4.4%
39	SS&C TECHNOLOGIES HLDGS INC COM SSNC	SSNC	237,621	$18.0m0.69%	0.69%	Reduced -47.0k	-46,996 -16.5%
40	AFFILIATED MANAGERS GROUP IN COM AMG	AMG	74,834	$13.8m0.53%	0.53%	Reduced -14.7k	-14,740 -16.5%
41	TRANSUNION COM TRU	TRU	146,512	$13.6m0.52%	0.52%	Reduced -28.6k	-28,597 -16.3%
42	AMN HEALTHCARE SVCS INC COM AMN	AMN	515,941	$12.3m0.47%	0.47%	New
43	PAYCOM SOFTWARE INC COM PAYC	PAYC	59,614	$12.2m0.47%	0.47%	Added +12.8k	+12,778 27.3%
44	AVANTOR INC COM AVTR	AVTR	551,273	$11.6m0.45%	0.45%	Added +20.5k	+20,540 3.9%
45	LPL FINL HLDGS INC COM LPLA	LPLA	35,404	$11.6m0.44%	0.44%	Reduced -91.4k	-91,353 -72.1%
46	M & T BK CORP COM MTB	MTB	60,317	$11.3m0.44%	0.44%	Reduced -13.2k	-13,186 -17.9%
47	ALLISON TRANSMISSION HLDGS I COM ALSN	ALSN	102,533	$11.1m0.43%	0.43%	Reduced -21.9k	-21,855 -17.6%
48	FMC CORP COM NEW FMC	FMC	227,328	$11.1m0.43%	0.43%	Added +39.2k	+39,230 20.9%
49	REXFORD INDL RLTY INC COM REXR	REXR	282,598	$10.9m0.42%	0.42%	Added +4.5k	+4,518 1.6%
50	CAMDEN PPTY TR SH BEN INT CPT	CPT	91,286	$10.6m0.41%	0.41%	Reduced -18.3k	-18,271 -16.7%
51	LKQ CORP COM LKQ	LKQ	279,314	$10.3m0.39%	0.39%	Added +6.7k	+6,723 2.5%
52	BAKER HUGHES COMPANY CL A BKR	BKR	249,561	$10.2m0.39%	0.39%	Reduced -51.8k	-51,809 -17.2%
53	FIDELITY NATL INFORMATION SV COM FIS	FIS	124,306	$10.0m0.39%	0.39%	Reduced -26.9k	-26,863 -17.8%
54	XCEL ENERGY INC COM XEL	XEL	146,311	$9.9m0.38%	0.38%	Reduced -32.7k	-32,702 -18.3%
55	GLOBAL PMTS INC COM GPN	GPN	87,937	$9.9m0.38%	0.38%	Reduced -19.8k	-19,831 -18.4%
56	LIVE NATION ENTERTAINMENT IN COM LYV	LYV	75,217	$9.7m0.37%	0.37%	Reduced -90.7k	-90,683 -54.7%
57	AMERICOLD REALTY TRUST INC COM COLD	COLD	454,645	$9.7m0.37%	0.37%	Added +16.5k	+16,544 3.8%
58	WILLSCOT HLDGS CORP COM CL A WSC	WSC	289,010	$9.7m0.37%	0.37%	Added +7.4k	+7,425 2.6%
59	FIDELITY NATIONAL FINANCIAL FNF GROUP COM FNF	FNF	169,967	$9.5m0.37%	0.37%	Reduced -35.1k	-35,120 -17.1%
60	CHARLES RIV LABS INTL INC COM CRL	CRL	50,676	$9.4m0.36%	0.36%	Reduced -11.8k	-11,822 -18.9%
61	ZIMMER BIOMET HOLDINGS INC COM ZBH	ZBH	86,755	$9.2m0.35%	0.35%	Added +22.2k	+22,220 34.4%
62	BJS WHSL CLUB HLDGS INC COM BJ	BJ	97,413	$8.7m0.33%	0.33%	Reduced -54.1k	-54,129 -35.7%
63	AMERICAN FINL GROUP INC OHIO COM AFG	AFG	63,187	$8.7m0.33%	0.33%	Reduced -13.5k	-13,538 -17.6%
64	BOK FINL CORP COM NEW BOKF	BOKF	78,596	$8.4m0.32%	0.32%	Reduced -43.3k	-43,296 -35.5%
65	COGNIZANT TECHNOLOGY SOLUTIO CL A CTSH	CTSH	107,034	$8.2m0.32%	0.32%	Reduced -24.5k	-24,518 -18.6%
66	EAGLE MATLS INC COM EXP	EXP	31,215	$7.7m0.30%	0.30%	Reduced -6.9k	-6,945 -18.2%
67	INTERCONTINENTAL EXCHANGE IN COM ICE	ICE	50,422	$7.5m0.29%	0.29%	Reduced -10.4k	-10,446 -17.2%
68	PROGRESSIVE CORP COM PGR	PGR	30,153	$7.2m0.28%	0.28%	Reduced -6.3k	-6,259 -17.2%
69	KEYSIGHT TECHNOLOGIES INC COM KEYS	KEYS	43,604	$7.0m0.27%	0.27%	Reduced -8.7k	-8,679 -16.6%
70	TAPESTRY INC COM TPR	TPR	91,368	$6.0m0.23%	0.23%	New
71	MICROCHIP TECHNOLOGY INC. COM MCHP	MCHP	100,025	$5.7m0.22%	0.22%	New
72	SENSATA TECHNOLOGIES HLDG PL SHS ST	ST	204,941	$5.6m0.22%	0.22%	Reduced -59.4k	-59,383 -22.5%
73	DOLLAR GEN CORP NEW COM DG	DG	70,282	$5.3m0.21%	0.21%	Reduced -15.3k	-15,315 -17.9%
74	SNAP ON INC COM SNA	SNA	14,492	$4.9m0.19%	0.19%	Reduced -13.2k	-13,206 -47.7%
75	ISHARES TR RUS MDCP VAL ETF IWS	IWS	245,513	$3.2m0.12%	0.12%	New
76	ISHARES TR CORE S&P500 ETF IVV	IVV	2,245	$1.3m0.05%	0.05%	Unchanged
77	PREMIER INC CL A PINC	PINC	16,610	$352.1k0.01%	0.01%	Unchanged
78	SPDR SER TR PORTFOLIO SHORT SPSB	SPSB	9,500	$283.7k0.01%	0.01%	Unchanged

Sold out since Q3 2024

Security	Ticker	Shares held before	Value then
1ST SOURCE CORP SRCE	SRCE	233,540	$14.0m233.5k shares
ALEXANDRIA REAL ESTATE EQ IN ARE	ARE	77,514	$9.2m77.5k shares
INTERPUBLIC GROUP COS INC IPG	IPG	265,370	$8.4m265.4k shares
LOEWS CORP L	L	97,035	$7.7m97.0k shares
MICROSOFT CORP MSFT	MSFT	900	$387.3k900 shares
INTUIT INTU	INTU	500	$310.5k500 shares
AMERICAN EXPRESS CO AXP	AXP	1,100	$298.3k1.1k 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
INSPERITY INC NSP · 13G · filed 2026-02-12	NSP	7.3%≈ $113.4m	+1.4 pts	13G	2026-02-12
SKYWARD SPECIALTY INS GROUP SKWD · 13G · filed 2026-02-12	SKWD	6.0%≈ $141.0m	new	13G	2026-02-12
CADRE HLDGS INC CDRE · 13G · filed 2026-02-12	CDRE	5.3%≈ $61.9m	new	13G	2026-02-12
YETI HLDGS INC YETI · 13G · filed 2026-10-13	YETI	5.1%≈ $192.8m	new	13G	2026-10-13
HILLMAN SOLUTIONS CORP HLMN · 13G · filed 2025-08-05	HLMN	5.1%≈ $84.8m	new	13G	2025-08-05