Insights from the First Quarter of 2024 13F Filing
Keeley-Teton Advisors, LLC (Trades, Portfolio), a firm renowned for its expertise in small to mid-cap value investing, has recently disclosed its 13F filings for the first quarter of 2024. The firm, which emerged from the merger of Keeley Asset Management Corp and Teton Advisors, Inc. in March 2017, continues to leverage a disciplined, bottom-up approach to identify undervalued stocks. This strategy is complemented by a robust operational infrastructure and a unified distribution platform aimed at enhancing client engagement and expanding market reach.
New Additions to the Portfolio
Keeley-Teton Advisors, LLC (Trades, Portfolio) expanded its portfolio by adding 14 new stocks in the first quarter of 2024. Noteworthy new positions include:
- Helios Technologies Inc (HLIO, Financial), with 73,691 shares valued at approximately $3.29 million, making up 0.41% of the portfolio.
- Federated Hermes Inc (FHI, Financial), comprising 89,036 shares, which represent about 0.4% of the portfolio, with a total value of $3.22 million.
- Mesa Laboratories Inc (MLAB, Financial), holding 23,751 shares valued at $2.61 million, accounting for 0.32% of the portfolio.
Significant Increases in Existing Positions
The firm also increased its stakes in 104 stocks, with significant boosts in:
- NCR Atleos Corp (NATL, Financial), adding 97,638 shares for a total of 183,602 shares, marking a 113.58% increase in share count and impacting the portfolio by 0.24%, valued at $3.63 million.
- iShares Core S&P Mid-Cap ETF (IJH, Financial), with an additional 29,447 shares, bringing the total to 31,124 shares. This adjustment represents a 1,755.93% increase in share count, valued at $1.89 million.
Complete Exits
In a strategic move, Keeley-Teton Advisors, LLC (Trades, Portfolio) exited 16 positions entirely in this quarter, including:
- Zurn Elkay Water Solutions Corp (ZWS, Financial), where all 121,368 shares were sold, impacting the portfolio by -0.46%.
- Bank of N.T. Butterfield & Son Ltd (NTB, Financial), liquidating 54,688 shares, which caused a -0.23% impact on the portfolio.
Reductions in Key Holdings
The firm also reduced its positions in 149 stocks. The most notable reductions were:
- Chemed Corp (CHE, Financial), with a decrease of 4,899 shares, resulting in a -48.56% reduction and a -0.37% portfolio impact. The stock traded at an average price of $607.51 during the quarter.
- Griffon Corp (GFF, Financial), reducing 40,178 shares, which led to a -64.66% decrease and a -0.32% impact on the portfolio. The stock's price averaged $65.29 during the quarter.
Portfolio Overview and Sector Allocation
As of the first quarter of 2024, Keeley-Teton Advisors, LLC (Trades, Portfolio)'s portfolio included 347 stocks. The top holdings were:
- 5.11% in iShares Core S&P 500 ETF (IVV, Financial)
- 1.62% in Vanguard Total Stock Market ETF (VTI, Financial)
- 1.39% in Ensign Group Inc (ENSG, Financial)
- 1.34% in S&P 500 ETF TRUST ETF (SPY, Financial)
- 1.32% in TechnipFMC PLC (FTI, Financial)
The firm's investments are primarily concentrated across 11 industries, ensuring a diversified and robust portfolio.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
