AS OF 06-30-2018


Top 10 Holdings (excluding cash)
Revlon Inc. (REV) 15.4%
AMC Entertainment Holdings (AMC) 13.6%
Aimia Inc. (AIM CN)   10.8%
Intralot SA (INLOT GA)    6.7%
Jardine Strategic (JS SP)   5.7%
Clear Media Ltd. (100 HK)   5.1%
KT Corp. (KT)   4.8%
International Game Technology PLC (IGT)   4.5%
CMIC Holdings Ltd. (2309 JP)   4.0%
HC2 Holdings (HCHC)   3.8%


Portfolio Characteristics
Mkt. Cap. (wtd. avg.) $6.0 bil.
Mkt. Cap. (median) $802 mil.
EV / EBITDA 6.1x
Price / FCF 9.3x
FCF yield 10.7%


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.