The Packrats are back again, replacing things they pinch with walnuts. However they get into a spot of bother when they puncture their own wall with a thimble and spring a leak. They rush into Pooh house and he decides to shelter them until the rain stops. He tells them that not everyone is happy with walnuts in return. The whole gang is hard at work bailing out water. The Packrats steal pots form the others and give them to Pooh. Pooh tells them that it's better to give than to take and puts them to sleep. However, the Packrats take Pooh things and put them in Piglet's house. Pooh can't understand why. The Gang tries to capture them, though Pooh says they're confused. The gang finds that all the other houses are bare too. Pooh doesn't want to believe that they're thieves. However, the Packrats had taken all the things to Owl's house for safe keeping from the floor and the gang thank them with a cake!