REINHART PARTNERS, LLC.

MEQUON, WI · CIK 1080298 · 13F filing filed 2025-07-09

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)

$2.9bn reported value +6.7% vs Q1 2025

74positions

36.9%in top 10

5 new 27 added 40 reduced 8 sold out vs Q1 2025

Also in the report of:

Dorsey & Whitney Trust CO LLC – $353.8k of shares are in both reports

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

Holdings, Q2 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	FIRST CTZNS BANCSHARES INC N CL A FCNCA	FCNCA	69,279	$135.6m4.63%	4.63%	Added +2.8k	+2,820 4.2%
2	LANTHEUS HLDGS INC COM LNTH	LNTH	1,403,659	$114.9m3.92%	3.92%	Added +197.7k	+197,719 16.4%
3	SILICON MOTION TECHNOLOGY CO SPONSORED ADR SIMO	SIMO	1,471,583	$110.6m3.78%	3.78%	Added +107.3k	+107,292 7.9%
4	FRONTDOOR INC COM FTDR	FTDR	1,873,702	$110.4m3.77%	3.77%	Reduced -495.0k	-494,982 -20.9%
5	MODINE MFG CO COM MOD	MOD	1,091,561	$107.5m3.67%	3.67%	Added +215.7k	+215,727 24.6%
6	INSPERITY INC COM NSP	NSP	1,786,953	$107.4m3.67%	3.67%	Added +302.9k	+302,893 20.4%
7	AXCELIS TECHNOLOGIES INC COM NEW ACLS	ACLS	1,518,544	$105.8m3.61%	3.61%	Added +77.5k	+77,522 5.4%
8	ASSURED GUARANTY LTD COM AGO	AGO	1,138,398	$99.2m3.39%	3.39%	Added +3.6k	+3,588 0.3%
9	U HAUL HOLDING COMPANY COM SER N UHAL.B	UHAL.B	1,752,270	$95.3m3.25%	3.25%	Reduced -4.0k	-4,044 -0.2%
10	WINTRUST FINL CORP COM WTFC	WTFC	751,481	$93.2m3.18%	3.18%	Added +81.8k	+81,763 12.2%
11	INTERDIGITAL INC COM IDCC	IDCC	409,316	$91.8m3.14%	3.14%	Reduced -1.1k	-1,126 -0.3%
12	EURONET WORLDWIDE INC COM EEFT	EEFT	897,910	$91.0m3.11%	3.11%	Added +159.5k	+159,527 21.6%
13	WHITE MTNS INS GROUP LTD COM WTM	WTM	41,694	$74.9m2.56%	2.56%	Reduced -784	-784 -1.9%
14	FIRST AMERN FINL CORP COM FAF	FAF	1,217,263	$74.7m2.55%	2.55%	Added +13.3k	+13,286 1.1%
15	HILLMAN SOLUTIONS CORP COM HLMN	HLMN	10,053,219	$71.8m2.45%	2.45%	Added +1.4m	+1,393,980 16.1%
16	GMS INC COM COM		643,256	$70.0m2.39%	2.39%	Added +7.0k	+7,021 1.1%
17	ADAPTHEALTH CORP COMMON STOCK AHCO	AHCO	7,312,626	$69.0m2.36%	2.36%	Added +76.4k	+76,364 1.1%
18	MARCUS & MILLICHAP INC COM MMI	MMI	2,214,779	$68.0m2.32%	2.32%	Added +51.8k	+51,844 2.4%
19	YETI HLDGS INC COM YETI	YETI	2,142,818	$67.5m2.31%	2.31%	Added +1.1m	+1,080,072 101.6%
20	FORMFACTOR INC COM FORM	FORM	1,904,698	$65.5m2.24%	2.24%	Added +749.1k	+749,088 64.8%
21	MAXIMUS INC COM MMS	MMS	913,856	$64.2m2.19%	2.19%	Added +2.3k	+2,345 0.3%
22	AIR LEASE CORP CL A AL	AL	1,082,860	$63.3m2.16%	2.16%	Reduced -691.0k	-690,970 -39.0%
23	PAR TECHNOLOGY CORP COM PAR	PAR	883,792	$61.3m2.09%	2.09%	Added +24.9k	+24,949 2.9%
24	LANDSTAR SYS INC COM LSTR	LSTR	426,033	$59.2m2.02%	2.02%	Added +140.5k	+140,500 49.2%
25	RYMAN HOSPITALITY PPTYS INC COM RHP	RHP	595,284	$58.7m2.01%	2.01%	Added +158.0k	+158,011 36.1%
26	FIRST HAWAIIAN INC COM FHB	FHB	2,343,300	$58.5m2.00%	2.00%	Added +17.4k	+17,419 0.8%
27	ENCOMPASS HEALTH CORP COM EHC	EHC	453,119	$55.6m1.90%	1.90%	Reduced -109.8k	-109,849 -19.5%
28	SKYWARD SPECIALTY INS GROUP COM SKWD	SKWD	959,036	$55.4m1.89%	1.89%	Added +14.6k	+14,605 1.6%
29	GRAND CANYON ED INC COM LOPE	LOPE	282,281	$53.4m1.82%	1.82%	Reduced -84.1k	-84,111 -23.0%
30	INTERNATIONAL BANCSHARES COR COM IBOC	IBOC	788,418	$52.5m1.79%	1.79%	Added +10.7k	+10,705 1.4%
31	ASGN INC COM EFOR	EFOR	1,019,406	$50.9m1.74%	1.74%	Added +353.4k	+353,419 53.1%
32	ACI WORLDWIDE INC COM ACIW	ACIW	987,041	$45.3m1.55%	1.55%	Reduced -316.6k	-316,557 -24.3%
33	ELEMENT SOLUTIONS INC COM ESI	ESI	1,650,624	$37.4m1.28%	1.28%	Added +720.4k	+720,365 77.4%
34	GXO LOGISTICS INCORPORATED COMMON STOCK GXO	GXO	721,918	$35.2m1.20%	1.20%	Reduced -4.1k	-4,104 -0.6%
35	INDEPENDENT BK CORP MASS COM INDB	INDB	507,696	$31.9m1.09%	1.09%	New
36	ISHARES TR RUSSELL 2000 ETF IWM	IWM	88,411	$19.1m0.65%	0.65%	New
37	PAYCOM SOFTWARE INC COM PAYC	PAYC	63,921	$14.8m0.51%	0.51%	Reduced -6.0k	-5,978 -8.6%
38	V2X INC COM VVX	VVX	290,081	$14.1m0.48%	0.48%	New
39	TAPESTRY INC COM TPR	TPR	146,891	$12.9m0.44%	0.44%	Added +21.9k	+21,942 17.6%
40	AFFILIATED MANAGERS GROUP IN COM AMG	AMG	64,410	$12.7m0.43%	0.43%	Reduced -5.8k	-5,833 -8.3%
41	SS&C TECHNOLOGIES HLDGS INC COM SSNC	SSNC	135,398	$11.2m0.38%	0.38%	Reduced -11.9k	-11,919 -8.1%
42	TRANSUNION COM TRU	TRU	126,824	$11.2m0.38%	0.38%	Reduced -8.7k	-8,709 -6.4%
43	LPL FINL HLDGS INC COM LPLA	LPLA	29,716	$11.1m0.38%	0.38%	Reduced -2.9k	-2,905 -8.9%
44	M & T BK CORP COM MTB	MTB	51,616	$10.0m0.34%	0.34%	Reduced -4.9k	-4,929 -8.7%
45	LIVE NATION ENTERTAINMENT IN COM LYV	LYV	64,392	$9.7m0.33%	0.33%	Reduced -5.8k	-5,808 -8.3%
46	MICROCHIP TECHNOLOGY INC. COM MCHP	MCHP	128,381	$9.0m0.31%	0.31%	Reduced -7.4k	-7,441 -5.5%
47	LKQ CORP COM LKQ	LKQ	241,953	$9.0m0.31%	0.31%	Reduced -21.0k	-20,960 -8.0%
48	REXFORD INDL RLTY INC COM REXR	REXR	250,867	$8.9m0.30%	0.30%	Reduced -20.8k	-20,845 -7.7%
49	FIDELITY NATL INFORMATION SV COM FIS	FIS	107,477	$8.7m0.30%	0.30%	Reduced -9.1k	-9,082 -7.8%
50	CAMDEN PPTY TR SH BEN INT CPT	CPT	77,308	$8.7m0.30%	0.30%	Reduced -6.7k	-6,684 -8.0%
51	KEYSIGHT TECHNOLOGIES INC COM KEYS	KEYS	52,467	$8.6m0.29%	0.29%	Added +11.8k	+11,763 28.9%
52	XCEL ENERGY INC COM XEL	XEL	124,077	$8.4m0.29%	0.29%	Reduced -11.0k	-10,954 -8.1%
53	ALLISON TRANSMISSION HLDGS I COM ALSN	ALSN	88,266	$8.4m0.29%	0.29%	Reduced -8.2k	-8,232 -8.5%
54	SENSATA TECHNOLOGIES HLDG PL SHS ST	ST	273,352	$8.2m0.28%	0.28%	Reduced -17.7k	-17,663 -6.1%
55	FIDELITY NATIONAL FINANCIAL FNF GROUP COM FNF	FNF	146,486	$8.2m0.28%	0.28%	Reduced -10.8k	-10,796 -6.9%
56	BAKER HUGHES COMPANY CL A BKR	BKR	213,386	$8.2m0.28%	0.28%	Reduced -18.4k	-18,421 -8.0%
57	INTERCONTINENTAL EXCHANGE IN COM ICE	ICE	43,247	$7.9m0.27%	0.27%	Reduced -4.0k	-3,994 -8.4%
58	AVANTOR INC COM AVTR	AVTR	568,329	$7.6m0.26%	0.26%	Reduced -47.4k	-47,394 -7.7%
59	EAGLE MATLS INC COM EXP	EXP	37,190	$7.5m0.26%	0.26%	Reduced -2.3k	-2,330 -5.9%
60	DOLLAR GEN CORP NEW COM DG	DG	64,660	$7.4m0.25%	0.25%	Reduced -3.3k	-3,331 -4.9%
61	SMITH A O CORP COM AOS	AOS	109,260	$7.2m0.24%	0.24%	New
62	COGNIZANT TECHNOLOGY SOLUTIO CL A CTSH	CTSH	90,602	$7.1m0.24%	0.24%	Reduced -9.1k	-9,139 -9.2%
63	AMERICOLD REALTY TRUST INC COM COLD	COLD	409,774	$6.8m0.23%	0.23%	Reduced -33.3k	-33,311 -7.5%
64	AMERICAN FINL GROUP INC OHIO COM AFG	AFG	53,812	$6.8m0.23%	0.23%	Reduced -5.3k	-5,301 -9.0%
65	ZIMMER BIOMET HOLDINGS INC COM ZBH	ZBH	73,795	$6.7m0.23%	0.23%	Reduced -6.5k	-6,510 -8.1%
66	BOK FINL CORP COM NEW BOKF	BOKF	68,015	$6.6m0.23%	0.23%	Reduced -5.5k	-5,485 -7.5%
67	GLOBAL PMTS INC COM GPN	GPN	73,630	$5.9m0.20%	0.20%	Reduced -8.5k	-8,458 -10.3%
68	PROGRESSIVE CORP COM PGR	PGR	18,552	$5.0m0.17%	0.17%	Reduced -9.2k	-9,173 -33.1%
69	BJS WHSL CLUB HLDGS INC COM BJ	BJ	43,015	$4.6m0.16%	0.16%	Reduced -17.6k	-17,649 -29.1%
70	MARRIOTT INTL INC NEW CL A MAR	MAR	14,310	$3.9m0.13%	0.13%	New
71	SNAP ON INC COM SNA	SNA	12,436	$3.9m0.13%	0.13%	Reduced -1.1k	-1,057 -7.8%
72	WILLSCOT HLDGS CORP COM CL A WSC	WSC	100,805	$2.8m0.09%	0.09%	Reduced -6.1k	-6,132 -5.7%
73	ISHARES TR CORE S&P500 ETF IVV	IVV	2,245	$1.4m0.05%	0.05%	Unchanged
74	SPDR SER TR PORTFOLIO SHORT SPSB	SPSB	9,500	$286.8k0.01%	0.01%	Unchanged

Sold out since Q1 2025

Security	Ticker	Shares held before	Value then
THOR INDS INC THO	THO	382,754	$29.0m382.8k shares
SPROUTS FMRS MKT INC SFM	SFM	145,092	$22.1m145.1k shares
AMN HEALTHCARE SVCS INC AMN	AMN	744,943	$18.2m744.9k shares
ALEXANDER & BALDWIN INC NEW ALEX	ALEX	957,802	$16.5m957.8k shares
FMC CORP FMC	FMC	215,043	$9.1m215.0k shares
CHARLES RIV LABS INTL INC CRL	CRL	48,742	$7.3m48.7k shares
ISHARES TR IWN	IWN	20,838	$3.1m20.8k shares
PREMIER INC PINC	PINC	16,610	$320.2k16.6k 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