GRACE & WHITE INC

Grace & White, Inc. (Grace & White) is a Registered Investment Advisor founded in 1977. Gerald I. White, CFA, President, Chief Financial Officer and Director, is the principal owner. Marc E. Ravitz, CFA, Executive Vice-President and Director, and two other investment professionals contribute to the investment management process. As of February 28, 2025, Grace & White's assets under management were approximately $920,689,000, of which $919,265,000 is managed on a discretionary basis and $1,424,000 on a non-discretionary basis. They consider client limitations when managing accounts and invest in various securities such as warrants, certificates of deposit, corporate debt securities, tax-exempt debt securities, mutual fund shares, money market funds, United States government debt securities, government-related agency bonds, options contracts on securities, convertible securities, and partnerships.

Grace & White provides investment supervisory services on a discretionary basis, tailoring each portfolio to the client's financial objectives, including their desire for income and risk tolerance. Investments may include equity securities (exchange-listed, exchange-traded funds, over-the-counter, foreign issuers), warrants, certificates of deposit, corporate and tax-exempt debt securities, mutual fund shares, and money market funds. The firm may employ various techniques such as long-term purchases (securities held at least one year), short-term purchases (securities sold within one year), option writing strategies, short sales, and margin transactions. Fundamental analysis is used but it cannot accurately predict price movements, especially in the short term, due to unforeseen factors like economic environment, interest rates, credit markets, foreign currency exchange rates, consumer confidence, supply interruptions, commodity prices, natural disasters and political events. All investments involve financial risk borne by the client, who is also responsible for paying any income or other taxes due for transactions in their account. Long-term purchases are usually based on a 3-5 year time horizon.

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