Adirondack Research & Management Inc.

Registered adviser

CIK

1569100

Location

Guilderland, NY

Portfolio Value

Micro $74,259,230

Diversification

Diversified

Filing Date

Global Rank

#5,762 / 6,035 ▲ 28 · as of Sep 2021

Top Industry

Information Technology Services 8.1%

Period ended 5 years ago

Filed Oct 29, 2021 · 5y

7 quarters · since Mar 2020

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Registered adviser

Form ADV roster, Nov 1, 2026

Form ADV adviser

CRD 130987

Roster of Nov 1, 2026

Regulatory AUM

$126,126,085

Main clients

Individuals and high net worth (59% of AUM)

Registered funds advised

1 series (0 index, 0 ETFs)

$45,273,265 net assets· N-CEN Mar 31, 2026

Form ADV history

Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.

Rosters	Regulatory AUM	Main clients
Apr 2026 to Nov 2026	$126,126,085	Individuals and high net worth (59%)
Apr 2025 to Mar 2026	$110,674,422	Individuals and high net worth (62%)
Apr 2024 to Mar 2025	$93,802,784	Individuals and high net worth (63%)
May 2023 to Mar 2024	$94,009,969	Individuals and high net worth (61%)
Apr 2023	$94,009,969	Individuals and high net worth (61%)
Apr 2022 to Mar 2023	$102,084,787	Individuals and high net worth (56%)

3 earlier changes not shown.

Portfolio style

Measured from the filed 13F common-share book for Sep 30, 2021, never from the firm's own description.

Style

Diversified active

Top 10 weight 25.0%, 64.7 effective positions, active share 93.4% against the S&P 500 as of 2021-09-30; it meets none of the index-like, systematic-like or concentrated tests

Turnover

Medium turnover

46.7% over the last four quarters (30% to under 100%)

Horizon

Horizon unknown

The value-weighted holding period is at least 5.4 quarters, but 58.2% of the book was already held when coverage starts

Closest benchmark: the S&P 500 as of 2021-09-30, active share 93.4%; sector active share 30.9% against the combined 13F book's sector weights.

Over time 7 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

91 tracked positions · as of Sep 30, 2021 · Δ vs Jun 30, 2021

Top Position

4.3%

−0.5 pts

Top 5

14.2%

−1.1 pts

Top 10

25.0%

−1.7 pts

HHI

155

Diversified−12

Portfolio Trend

7 quarters · across all stocks

Sector Breakdown

As of Sep 30, 2021

Sector	% Portfolio	Value	Positions
Technology	18.9%	$14,049,408	14
Financial Services	16.9%	$12,514,328	12
Unclassified	15.5%	$11,544,085	18
Industrials	12.3%	$9,164,545	8
Consumer Defensive	8.7%	$6,453,629	8
Energy	6.4%	$4,737,801	4
Consumer Cyclical	5.9%	$4,417,032	7
Healthcare	5.1%	$3,786,492	7
Basic Materials	4.4%	$3,258,534	7
Utilities	2.7%	$1,990,473	4
Real Estate	2.1%	$1,523,069	1
Communication Services	1.1%	$819,834	1

Last Quarter's Activity

Export CSV

Sep 30, 2021 vs Jun 30, 2021

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
—		+50,276	465,320	$963,000
GNW	Genworth Financial Inc	+47,362	361,285	$1,354,818
—		+25,600	103,948	$467,000
AR	ANTERO RESOURCES Corp	+19,400	99,690	$1,875,168
EZPW	Ezcorp Inc	+16,278	60,004	$454,230
CGNT	Cognyte Software Ltd.	+16,197	41,334	$849,413
TRST	Trustco Bank Corp N Y	+12,499	49,446	$1,580,788
ASC	Ardmore Shipping Corp	+12,049	366,773	$1,522,107
ARAY	Accuray Inc	+11,376	218,537	$863,221
—		+6,300	87,067	$1,164,085
F	Ford Motor Co	+2,700	61,875	$876,150
GLW	Corning Inc	+2,107	15,630	$570,338
CLF	Cleveland-Cliffs Inc.	+2,000	19,600	$388,276
TIPT	Tiptree Inc.	+1,800	95,600	$957,912
ADM	Archer-Daniels-Midland Co	+972	18,187	$1,091,401
CSCO	Cisco Systems, Inc.	+792	19,187	$1,044,348
T	At&T Inc.	+233	30,353	$819,834
KO	Coca Cola Co	+142	15,544	$815,593
D	Dominion Energy, Inc	+102	12,864	$939,329
TECK	Teck Resources Ltd	+75	15,370	$382,866
WLKP	Westlake Chemical Partners LP	+10	29,210	$710,971
—		+2	11,916	$540,000
TSN	Tyson Foods, Inc.	+2	13,504	$1,066,005
PM	Philip Morris International Inc.	+2	9,101	$862,683
RL	Ralph Lauren Corp	+1	7,015	$778,945
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
ATEN	A10 Networks, Inc.	−45,548	40,636	$547,773
—		−39,000	47,950	$1,043,000
UAA	Under Armour, Inc.	−32,149	30,000	$605,400
—		−31,265	176,035	$0
CLS	Celestica Inc	−22,800	193,996	$1,722,684
GE	General Electric Co	−17,547	2,510	$258,605
MTRX	Matrix Service Co	−9,791	72,835	$761,854
HBIO	Harvard Bioscience Inc	−9,400	90,020	$628,339
UIS	Unisys Corp	−7,955	75,858	$1,907,070
—		−7,656	163,860	$1,363,000
OI	O-I Glass, Inc.	−6,231	81,715	$1,166,073
STC	Stewart Information Services Corp	−5,496	8,700	$550,362
MTG	Mgic Investment Corp	−5,333	98,600	$1,475,056
CALM	Cal-Maine Foods Inc	−2,800	13,700	$495,392
LYTS	Lsi Industries Inc	−1,500	208,653	$1,617,060
NOK	Nokia Corp	−800	51,880	$282,746
PFE	Pfizer Inc	−650	8,115	$349,026
BRX	Brixmor Property Group Inc.	−594	68,886	$1,523,069
—		−570	7,316	$1,541,000
CODI	Compass Diversified Holdings	−468	40,864	$1,151,138
HIG	Hartford Insurance Group, Inc.	−370	7,445	$523,011
MET	Metlife Inc	−330	8,133	$502,050
BSX	Boston Scientific Corp	−310	8,780	$380,964
—		−280	57,800	$944,000
—		−180	23,230	$293,000
No positions match the current search.

New Positions

Positions the filer opened this quarter

9 positions

Ticker	Company	Shares	Value
HLMN	Hillman Solutions Corp.	126,181	$1,505,339
BAX	Baxter International Inc	12,597	$1,013,176
CNX	CNX Resources Corp	58,400	$737,008
MATV	Mativ Holdings, Inc.	18,248	$632,475
ECVT	Ecovyst Inc.	52,375	$610,692
BABA	Alibaba Group Holding Ltd	3,486	$516,102
—		26,300	$451,000
—		122,612	$345,000
—		57,620	$164,000
No positions match the current search.

Sold Out

Positions the filer fully exited

5 positions

Ticker	Company	Shares	Value
—		126,821	$2,233,000
LCY	Hillman Solutions Corp.	121,465	$1,506,000
PQG	Ecovyst Inc.	52,134	$801,000
AAPL	Apple Inc.	1,540	$210,918
—		10,739	$0
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

91 tracked positions · $74,259,230 total · filing declares 98 positions · $82,215,000 · as of Sep 30, 2021

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 91 positions by value · page 1 of 2

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
CNDT	CONDUENT Inc Technology	Held	484,139	0	$3,190,476	−12.1%	7+	before history	4.30%
UIS	Unisys Corp Technology	Reduced	75,858	-7,955	$1,907,070	−10.1%	7+	before history	2.57%
CNO	CNO Financial Group, Inc. Financial Services	Held	79,920	0	$1,881,316	−0.3%	7+	before history	2.53%
AR	ANTERO RESOURCES Corp Energy	Added	99,690	+19,400	$1,875,168	+55.4%	3	$9.66	2.53%
CLS	Celestica Inc Technology	Reduced	193,996	-22,800	$1,722,684	+1.2%	7+	before history	2.32%
SPNT	SiriusPoint Ltd Financial Services	Held	182,231	0	$1,687,459	−8.0%	3	$10.15	2.27%
LYTS	Lsi Industries Inc Industrials	Reduced	208,653	-1,500	$1,617,060	−3.9%	7+	before history	2.18%
TRST	Trustco Bank Corp N Y Financial Services	Added	49,446	+12,499	$1,580,788	+24.4%	7+	before history	2.13%
EAF	Graftech International Ltd Industrials	Held	152,078	0	$1,569,444	−11.2%	7+	before history	2.11%
		Reduced	7,316	-570	$1,541,000	−12.9%	7+	before history	2.08%
BRX	Brixmor Property Group Inc. Real Estate	Reduced	68,886	-594	$1,523,069	−4.2%	7+	before history	2.05%
ASC	Ardmore Shipping Corp Industrials	Added	366,773	+12,049	$1,522,107	+1.7%	7+	before history	2.05%
HLMN	Hillman Solutions Corp. Industrials	NEW	126,181	NEW	$1,505,339	NEW	1	$12.24	2.03%
MTG	Mgic Investment Corp Financial Services	Reduced	98,600	-5,333	$1,475,056	+4.4%	7+	before history	1.99%
		Reduced	163,860	-7,656	$1,363,000	−22.1%	7+	before history	1.84%
GNW	Genworth Financial Inc Financial Services	Added	361,285	+47,362	$1,354,818	+10.7%	7+	before history	1.82%
PLAB	Photronics Inc Technology	Held	89,858	0	$1,224,764	+3.2%	6	$11.34	1.65%
OI	O-I Glass, Inc. Consumer Cyclical	Reduced	81,715	-6,231	$1,166,073	−18.8%	7+	before history	1.57%
		Added	87,067	+6,300	$1,164,085	−22.1%	7+	before history	1.57%
CODI	Compass Diversified Holdings Industrials	Reduced	40,864	-468	$1,151,138	+9.2%	7+	before history	1.55%
ADM	Archer-Daniels-Midland Co Consumer Defensive	Added	18,187	+972	$1,091,401	+4.6%	7+	before history	1.47%
COP	Conocophillips Energy	Reduced	15,975	-18	$1,082,625	+11.2%	3	$49.29	1.46%
TSN	Tyson Foods, Inc. Consumer Defensive	Added	13,504	+2	$1,066,005	+7.0%	3	$69.04	1.44%
CSCO	Cisco Systems, Inc. Technology	Added	19,187	+792	$1,044,348	+7.1%	3	$47.33	1.41%
		Reduced	47,950	-39,000	$1,043,000	−31.3%	7+	before history	1.40%
BAX	Baxter International Inc Healthcare	NEW	12,597	NEW	$1,013,176	NEW	1	$79.02	1.36%
		Added	465,320	+50,276	$963,000	−6.8%	7+	before history	1.30%
TIPT	Tiptree Inc. Financial Services	Added	95,600	+1,800	$957,912	+9.8%	5	$5.60	1.29%
		Reduced	57,800	-280	$944,000	−1.5%	4	unpriced	1.27%
D	Dominion Energy, Inc Utilities	Added	12,864	+102	$939,329	+0.0%	7+	before history	1.26%
WFC	Wells Fargo & Company Financial Services	Added	19,884	+1	$922,816	+2.5%	2	$44.65	1.24%
IMKTA	Ingles Markets Inc Consumer Defensive	Held	13,910	0	$918,477	+13.3%	6	$40.30	1.24%
F	Ford Motor Co Consumer Cyclical	Added	61,875	+2,700	$876,150	−0.4%	2	$13.31	1.18%
ARAY	Accuray Inc Healthcare	Added	218,537	+11,376	$863,221	−7.8%	7+	before history	1.16%
PM	Philip Morris International Inc. Consumer Defensive	Added	9,101	+2	$862,683	−4.3%	2	$95.95	1.16%
TAP	Molson Coors Beverage Co Consumer Defensive	Reduced	18,582	-63	$861,833	−13.9%	4	$41.42	1.16%
CGNT	Cognyte Software Ltd. Technology	Added	41,334	+16,197	$849,413	+37.9%	3	$27.95	1.14%
T	At&T Inc. Communication Services	Added	30,353	+233	$819,834	−5.4%	7+	before history	1.10%
KO	Coca Cola Co Consumer Defensive	Added	15,544	+142	$815,593	−2.1%	3	$50.38	1.10%
		Held	45,470	0	$790,000	+7.3%	3	unpriced	1.06%
SEB	Seaboard Corp Industrials	Reduced	190	-9	$778,998	+1.2%	7+	before history	1.05%
RL	Ralph Lauren Corp Consumer Cyclical	Added	7,015	+1	$778,945	−5.7%	4	$83.89	1.05%
MTRX	Matrix Service Co Industrials	Reduced	72,835	-9,791	$761,854	−12.2%	6	$9.99	1.03%
		Held	12,737	0	$758,000	−14.9%	7+	before history	1.02%
CNX	CNX Resources Corp Energy	NEW	58,400	NEW	$737,008	NEW	1	$12.09	0.99%
WLKP	Westlake Chemical Partners LP Basic Materials	Added	29,210	+10	$710,971	−9.6%	7+	before history	0.96%
KN	Knowles Corp Technology	Held	36,909	0	$691,674	−5.1%	7+	before history	0.93%
		Held	94,351	0	$677,000	−1.6%	7+	before history	0.91%
MATV	Mativ Holdings, Inc. Basic Materials	NEW	18,248	NEW	$632,475	NEW	1	$37.34	0.85%
HBIO	Harvard Bioscience Inc Healthcare	Reduced	90,020	-9,400	$628,339	−24.1%	7+	before history	0.85%

Showing the top 50 of 91 positions. Create a free account to see every position, past quarters, search, filters and CSV export.

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.