REINHART PARTNERS, LLC.

MEQUON, WI · CIK 1080298 · 13F filing filed 2025-04-11

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)

$2.7bn reported value +5.5% vs Q4 2024

77positions

36.4%in top 10

4 new 35 added 35 reduced 5 sold out vs Q4 2024

Also in the report of:

Dorsey & Whitney Trust CO LLC – $301.0k of shares are in both reports

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

Holdings, Q1 2025

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	INSPERITY INC COM NSP	NSP	1,484,060	$132.4m4.83%	4.83%	Added +312.2k	+312,217 26.6%
2	FIRST CTZNS BANCSHARES INC N CL A FCNCA	FCNCA	66,459	$123.2m4.49%	4.49%	Added +8.5k	+8,478 14.6%
3	LANTHEUS HLDGS INC COM LNTH	LNTH	1,205,940	$117.7m4.29%	4.29%	Reduced -160.9k	-160,933 -11.8%
4	U HAUL HOLDING COMPANY COM SER N UHAL.B	UHAL.B	1,756,314	$103.9m3.79%	3.79%	Added +175.2k	+175,187 11.1%
5	ASSURED GUARANTY LTD COM AGO	AGO	1,134,810	$100.0m3.64%	3.64%	Added +129.0k	+129,026 12.8%
6	FRONTDOOR INC COM FTDR	FTDR	2,368,684	$91.0m3.32%	3.32%	Added +331.1k	+331,066 16.2%
7	AIR LEASE CORP CL A AL	AL	1,773,830	$85.7m3.12%	3.12%	Added +188.0k	+188,040 11.9%
8	INTERDIGITAL INC COM IDCC	IDCC	410,442	$84.9m3.09%	3.09%	Added +50.2k	+50,204 13.9%
9	WHITE MTNS INS GROUP LTD COM WTM	WTM	42,478	$81.8m2.98%	2.98%	Added +4.2k	+4,206 11.0%
10	FIRST AMERN FINL CORP COM FAF	FAF	1,203,977	$79.0m2.88%	2.88%	Added +161.8k	+161,819 15.5%
11	EURONET WORLDWIDE INC COM EEFT	EEFT	738,383	$78.9m2.88%	2.88%	Added +111.2k	+111,234 17.7%
12	ADAPTHEALTH CORP COMMON STOCK AHCO	AHCO	7,236,262	$78.4m2.86%	2.86%	Added +969.4k	+969,408 15.5%
13	HILLMAN SOLUTIONS CORP COM HLMN	HLMN	8,659,239	$76.1m2.77%	2.77%	Added +1.0m	+1,046,765 13.8%
14	WINTRUST FINL CORP COM WTFC	WTFC	669,718	$75.3m2.75%	2.75%	Added +85.1k	+85,129 14.6%
15	MARCUS & MILLICHAP INC COM MMI	MMI	2,162,935	$74.5m2.72%	2.72%	Added +253.4k	+253,444 13.3%
16	AXCELIS TECHNOLOGIES INC COM NEW ACLS	ACLS	1,441,022	$71.6m2.61%	2.61%	Added +404.9k	+404,910 39.1%
17	ACI WORLDWIDE INC COM ACIW	ACIW	1,303,598	$71.3m2.60%	2.60%	Reduced -104.2k	-104,217 -7.4%
18	SILICON MOTION TECHNOLOGY CO SPONSORED ADR SIMO	SIMO	1,364,291	$69.0m2.51%	2.51%	Added +228.6k	+228,553 20.1%
19	MODINE MFG CO COM MOD	MOD	875,834	$67.2m2.45%	2.45%	Added +571.0k	+571,026 187.3%
20	GRAND CANYON ED INC COM LOPE	LOPE	366,392	$63.4m2.31%	2.31%	Added +35.4k	+35,446 10.7%
21	MAXIMUS INC COM MMS	MMS	911,511	$62.2m2.27%	2.27%	Added +360.4k	+360,365 65.4%
22	ENCOMPASS HEALTH CORP COM EHC	EHC	562,968	$57.0m2.08%	2.08%	Reduced -93.4k	-93,352 -14.2%
23	FIRST HAWAIIAN INC COM FHB	FHB	2,325,881	$56.8m2.07%	2.07%	Added +305.4k	+305,439 15.1%
24	PAR TECHNOLOGY CORP COM PAR	PAR	858,843	$52.7m1.92%	1.92%	Added +112.2k	+112,183 15.0%
25	SKYWARD SPECIALTY INS GROUP COM SKWD	SKWD	944,431	$50.0m1.82%	1.82%	New
26	INTERNATIONAL BANCSHARES COR COM IBOC	IBOC	777,713	$49.0m1.79%	1.79%	Added +90.6k	+90,553 13.2%
27	GMS INC COM COM		636,235	$46.6m1.70%	1.70%	Added +94.7k	+94,716 17.5%
28	LANDSTAR SYS INC COM LSTR	LSTR	285,533	$42.9m1.56%	1.56%	New
29	ASGN INC COM EFOR	EFOR	665,987	$42.0m1.53%	1.53%	Added +78.8k	+78,794 13.4%
30	RYMAN HOSPITALITY PPTYS INC COM RHP	RHP	437,273	$40.0m1.46%	1.46%	Added +161.4k	+161,385 58.5%
31	YETI HLDGS INC COM YETI	YETI	1,062,746	$35.2m1.28%	1.28%	New
32	FORMFACTOR INC COM FORM	FORM	1,155,610	$32.7m1.19%	1.19%	Added +712.2k	+712,196 160.6%
33	THOR INDS INC COM THO	THO	382,754	$29.0m1.06%	1.06%	Added +22.6k	+22,612 6.3%
34	GXO LOGISTICS INCORPORATED COMMON STOCK GXO	GXO	726,022	$28.4m1.03%	1.03%	Added +125.9k	+125,886 21.0%
35	SPROUTS FMRS MKT INC COM SFM	SFM	145,092	$22.1m0.81%	0.81%	Reduced -82.9k	-82,919 -36.4%
36	ELEMENT SOLUTIONS INC COM ESI	ESI	930,259	$21.0m0.77%	0.77%	Reduced -344.9k	-344,902 -27.1%
37	AMN HEALTHCARE SVCS INC COM AMN	AMN	744,943	$18.2m0.66%	0.66%	Added +229.0k	+229,002 44.4%
38	ALEXANDER & BALDWIN INC NEW COM ALEX	ALEX	957,802	$16.5m0.60%	0.60%	Reduced -1.5m	-1,512,013 -61.2%
39	PAYCOM SOFTWARE INC COM PAYC	PAYC	69,899	$15.3m0.56%	0.56%	Added +10.3k	+10,285 17.2%
40	SS&C TECHNOLOGIES HLDGS INC COM SSNC	SSNC	147,317	$12.3m0.45%	0.45%	Reduced -90.3k	-90,304 -38.0%
41	AFFILIATED MANAGERS GROUP IN COM AMG	AMG	70,243	$11.8m0.43%	0.43%	Reduced -4.6k	-4,591 -6.1%
42	TRANSUNION COM TRU	TRU	135,533	$11.2m0.41%	0.41%	Reduced -11.0k	-10,979 -7.5%
43	LKQ CORP COM LKQ	LKQ	262,913	$11.2m0.41%	0.41%	Reduced -16.4k	-16,401 -5.9%
44	LPL FINL HLDGS INC COM LPLA	LPLA	32,621	$10.7m0.39%	0.39%	Reduced -2.8k	-2,783 -7.9%
45	REXFORD INDL RLTY INC COM REXR	REXR	271,712	$10.6m0.39%	0.39%	Reduced -10.9k	-10,886 -3.9%
46	CAMDEN PPTY TR SH BEN INT CPT	CPT	83,992	$10.3m0.37%	0.37%	Reduced -7.3k	-7,294 -8.0%
47	FIDELITY NATIONAL FINANCIAL FNF GROUP COM FNF	FNF	157,282	$10.2m0.37%	0.37%	Reduced -12.7k	-12,685 -7.5%
48	BAKER HUGHES COMPANY CL A BKR	BKR	231,807	$10.2m0.37%	0.37%	Reduced -17.8k	-17,754 -7.1%
49	M & T BK CORP COM MTB	MTB	56,545	$10.1m0.37%	0.37%	Reduced -3.8k	-3,772 -6.2%
50	AVANTOR INC COM AVTR	AVTR	615,723	$10.0m0.36%	0.36%	Added +64.5k	+64,450 11.7%
51	XCEL ENERGY INC COM XEL	XEL	135,031	$9.6m0.35%	0.35%	Reduced -11.3k	-11,280 -7.7%
52	AMERICOLD REALTY TRUST INC COM COLD	COLD	443,085	$9.5m0.35%	0.35%	Reduced -11.6k	-11,560 -2.5%
53	ALLISON TRANSMISSION HLDGS I COM ALSN	ALSN	96,498	$9.2m0.34%	0.34%	Reduced -6.0k	-6,035 -5.9%
54	LIVE NATION ENTERTAINMENT IN COM LYV	LYV	70,200	$9.2m0.33%	0.33%	Reduced -5.0k	-5,017 -6.7%
55	ZIMMER BIOMET HOLDINGS INC COM ZBH	ZBH	80,305	$9.1m0.33%	0.33%	Reduced -6.5k	-6,450 -7.4%
56	FMC CORP COM NEW FMC	FMC	215,043	$9.1m0.33%	0.33%	Reduced -12.3k	-12,285 -5.4%
57	TAPESTRY INC COM TPR	TPR	124,949	$8.8m0.32%	0.32%	Added +33.6k	+33,581 36.8%
58	EAGLE MATLS INC COM EXP	EXP	39,520	$8.8m0.32%	0.32%	Added +8.3k	+8,305 26.6%
59	FIDELITY NATL INFORMATION SV COM FIS	FIS	116,559	$8.7m0.32%	0.32%	Reduced -7.7k	-7,747 -6.2%
60	INTERCONTINENTAL EXCHANGE IN COM ICE	ICE	47,241	$8.1m0.30%	0.30%	Reduced -3.2k	-3,181 -6.3%
61	GLOBAL PMTS INC COM GPN	GPN	82,088	$8.0m0.29%	0.29%	Reduced -5.8k	-5,849 -6.7%
62	PROGRESSIVE CORP COM PGR	PGR	27,725	$7.8m0.29%	0.29%	Reduced -2.4k	-2,428 -8.1%
63	AMERICAN FINL GROUP INC OHIO COM AFG	AFG	59,113	$7.8m0.28%	0.28%	Reduced -4.1k	-4,074 -6.5%
64	BOK FINL CORP COM NEW BOKF	BOKF	73,500	$7.7m0.28%	0.28%	Reduced -5.1k	-5,096 -6.5%
65	COGNIZANT TECHNOLOGY SOLUTIO CL A CTSH	CTSH	99,741	$7.6m0.28%	0.28%	Reduced -7.3k	-7,293 -6.8%
66	CHARLES RIV LABS INTL INC COM CRL	CRL	48,742	$7.3m0.27%	0.27%	Reduced -1.9k	-1,934 -3.8%
67	SENSATA TECHNOLOGIES HLDG PL SHS ST	ST	291,015	$7.1m0.26%	0.26%	Added +86.1k	+86,074 42.0%
68	BJS WHSL CLUB HLDGS INC COM BJ	BJ	60,664	$6.9m0.25%	0.25%	Reduced -36.7k	-36,749 -37.7%
69	MICROCHIP TECHNOLOGY INC. COM MCHP	MCHP	135,822	$6.6m0.24%	0.24%	Added +35.8k	+35,797 35.8%
70	KEYSIGHT TECHNOLOGIES INC COM KEYS	KEYS	40,704	$6.1m0.22%	0.22%	Reduced -2.9k	-2,900 -6.7%
71	DOLLAR GEN CORP NEW COM DG	DG	67,991	$6.0m0.22%	0.22%	Reduced -2.3k	-2,291 -3.3%
72	SNAP ON INC COM SNA	SNA	13,493	$4.5m0.17%	0.17%	Reduced -999	-999 -6.9%
73	ISHARES TR RUS 2000 VAL ETF IWN	IWN	20,838	$3.1m0.11%	0.11%	New
74	WILLSCOT HLDGS CORP COM CL A WSC	WSC	106,937	$3.0m0.11%	0.11%	Reduced -182.1k	-182,073 -63.0%
75	ISHARES TR CORE S&P500 ETF IVV	IVV	2,245	$1.3m0.05%	0.05%	Unchanged
76	PREMIER INC CL A PINC	PINC	16,610	$320.2k0.01%	0.01%	Unchanged
77	SPDR SER TR PORTFOLIO SHORT SPSB	SPSB	9,500	$285.9k0.01%	0.01%	Unchanged

Sold out since Q4 2024

Security	Ticker	Shares held before	Value then
GENTEX CORP GNTX	GNTX	1,124,403	$32.3m1.1m shares
ISHARES TR IWM	IWM	144,731	$32.0m144.7k shares
CARTERS INC CRI	CRI	467,763	$25.3m467.8k shares
TRINET GROUP INC TNET	TNET	234,068	$21.2m234.1k shares
ISHARES TR IWS	IWS	245,513	$3.2m245.5k 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
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