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Institutional Investment Manager
RUTABAGA CAPITAL MANAGEMENT LLC/MA
RUTABAGA CAPITAL MANAGEMENT LLC/MA (CIK: 0001128239) incorporated in Delaware, located at 64 Broad Street, Boston, MA. Institutional holdings reported to the SEC.

Institutional Holdings (2015Q4)
Portfolio Summary: 62 holdings with a total value of $794,488,000.
#
Name
Shares
Value ($)
%
Options
Notes
1 GRANITE CONSTR INC 746,312 32,024,000 4.03%
2 BLUE NILE INC COM 753,198 27,966,000 3.52%
3 REGIS CORP MINN COM 1,926,236 27,256,000 3.43%
4 MISTRAS GROUP INC 1,346,025 25,696,000 3.23%
5 InnerWorkings Inc 3,407,346 25,555,000 3.22%
6 PLY GEM HLDGS INC COM 2,031,729 25,478,000 3.21%
7 MUELLER WTR PRODS INC 2,836,946 24,398,000 3.07%
8 NCI BLDG SYS INC 1,957,573 24,293,000 3.06%
9 National Interstate Corp 880,375 23,506,000 2.96%
10 INVACARE CORP COM 1,349,091 23,461,000 2.95%
11 SCHNITZER STL INDS 1,578,031 22,676,000 2.85%
12 MAIDEN HOLDINGS LTD 1,497,096 22,322,000 2.81%
13 POWELL INDS INC COM 821,774 21,391,000 2.69%
14 Headwaters Inc 1,264,307 21,329,000 2.68%
15 BRIGGS & STRATTON CORP 1,232,794 21,327,000 2.68%
16 RIGNET INC 1,020,384 21,112,000 2.66%
17 CENTRAL GARDEN & PET CO COM 1,402,306 18,959,000 2.39%
18 GREENHILL & CO INC COM 635,199 18,173,000 2.29%
19 GREAT LAKES DREDGE & DOCK CO 4,183,757 16,568,000 2.09%
20 ASHFORD HOSPITALITY TR INC COM SHS 2,616,732 16,512,000 2.08%
21 ENVIRI CORP COM 2,065,239 16,274,000 2.05%
22 Douglas Dynamics Inc 697,447 14,695,000 1.85%
23 STONERIDGE INC COM 978,025 14,475,000 1.82%
24 INSTEEL INDUSTRIES 648,202 13,560,000 1.71%
25 MODINE MFG CO COM 1,435,134 12,988,000 1.63%
26 WILLIS LEASE FINANCE CORP COM 643,814 12,941,000 1.63%
27 Casella Waste SYS 2,144,151 12,822,000 1.61%
28 MARINEMAX INC COM 670,096 12,343,000 1.55%
29 UMH PPTYS INC 1,210,268 12,248,000 1.54%
30 MERCURY SYS INC COM 664,103 12,193,000 1.53%
31 FIRST CONN BANCORP INC MD 692,192 12,051,000 1.52%
32 LAYNE CHRISTENSEN CO 2,164,081 11,383,000 1.43%
33 HILL INTERNATIONAL INC 2,792,569 10,835,000 1.36%
34 COLUMBUS MCKINNON CORP N Y COM 527,931 9,978,000 1.26%
35 HOMETRUST BANCSHARES INC 490,051 9,924,000 1.25%
36 CENTRAL GARDEN & PET CO CL A NON-VTG 697,700 9,489,000 1.19%
37 FURMANITE CORPORATION 1,353,139 9,012,000 1.13%
38 HORIZON GLOBAL CORPORATION 849,000 8,804,000 1.11%
39 Ashford Hospitality Prime, Inc. 572,849 8,306,000 1.05%
40 INTREPID POTASH INC 2,804,368 8,273,000 1.04%
41 TITAN MACHY INC COM 751,980 8,219,000 1.03%
42 ASTRONOVA INC 537,778 7,771,000 0.98%
43 QAD Inc 377,730 7,751,000 0.98%
44 FRP HLDGS INC COM 224,681 7,626,000 0.96%
45 LMI Aerospace, Inc. 754,712 7,600,000 0.96%
46 Libbey Inc Com 300,019 6,396,000 0.81%
47 Dynamic Materials 888,582 6,211,000 0.78%
48 HOUSTON WIRE CABLE CO 1,151,189 6,078,000 0.77%
49 CPI AEROSTRUCTURES INC COM NEW 622,730 6,059,000 0.76%
50 COMMERCIAL VEH GROUP INC 2,164,895 5,975,000 0.75%
Page 1 of 2

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0001144969-16-000056, filed 2016.02.10).

From 2023-01-03 onward, the SEC requires values to be reported in nearest dollars. Earlier filings reported values in thousands; therefore, positions shown as $0 in older filings may represent actual values between $0–$999.