AS OF 06-30-2017

Top 10 Holdings (excluding cash)
Revlon Inc. (REV) 13.4%
AMC Entertainment Holdings (AMC)   7.7%
International Game Technology PLC (IGT)   7.4%
Clear Media Ltd. (100 HK)   6.8%
Intralot SA (INLOT GA)    6.6%
Jardine Strategic (JS SP)   6.6%
First Pacific Corp. (142 HK)   6.0%
Rallye SA (RAL FP)   5.9%
KT Corp. (KT)   4.9%
ABS-CBN Corp (ABS PM)   4.8%


Portfolio Characteristics
Mkt. Cap. (wtd. avg.) $8.1 bil.
Mkt. Cap. (median) $1.2 bil.
EV / EBITDA 6.7x
Price / FCF 10.3x
FCF yield 9.7%


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.