AS OF 06-30-2021
| Top 10 Holdings (excluding cash) |
| Aimia Inc. (AIM CN) |
27.7% |
| AMA Group Ltd. (AMA AU) |
18.3% |
| Greatview Asceptic (468 HK) |
12.7% |
| Cineplex (CGX CN) |
9.3% |
| Revlon Inc. (REV) |
9.1% |
| International Game Technology PLC (IGT) |
5.3% |
| ABS-CBN Corp. (ABSP PM) |
3.7% |
| CMIC Holdings Inc. (2309 JP) |
2.8% |
| Bayer AG (BAYRY) |
2.7% |
| American Equity Investment Life Holding (AEL) |
2.5% |
| Portfolio Characteristics |
| Mkt. Cap. (wtd. avg.) |
$2,850 mil. |
| Mkt. Cap. (median) |
$687 mil. |
| EV / EBITDA |
6.8x |
| Price / FCF |
10.2x |
| FCF yield |
9.8% |
| 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.
