AS OF 09-30-2020
| Top 10 Holdings (excluding cash) |
| Aimia Inc. (AIM CN) |
35.5% |
| Village Roadshow Ltd. (VRL AU) |
16.9% |
| Greatview Asceptic (468 HK) |
8.8% |
| Cineplex (CGX CN) |
8.3% |
| Revlon Inc. (REV) |
7.7% |
| AMC Entertainment Holdings (AMC) |
7.2% |
| International Game Technology PLC (IGT) |
5.1% |
| American Equity Investment Life Holding (AEL) |
3.6% |
| CMIC Holdings (2309 JP) |
2.3% |
| ABS-CBN Corp. (ABSP PM) |
2.1% |
| Portfolio Characteristics |
| Mkt. Cap. (wtd. avg.) |
$515 mil. |
| Mkt. Cap. (median) |
$340 mil. |
| EV / EBITDA |
4.9x |
| Price / FCF |
7.2x |
| FCF yield |
13.8% |
| Country Exposure |
 |
Note: The top ten holdings and portfolio characteristics shown above are based on a representative account. The representative account is an actual, separately managed portfolio representative of the firm’s investment strategy. The information shown is not intended nor should it be construed to be a recommendation to buy or sell an individual security.
